Crypto industry leader, Tether Operations Limited, and technology and strategy company, BTguru, have entered into a Memorandum of Understanding (MoU) to assess digital assets educational initiatives in Turkey (Türkiye). The MoU aims to develop comprehensive programs introducing stakeholders to blockchain and peer-to-peer technology, and explore real-world asset tokenization use cases for banks. This collaboration could […]
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Defi Education Fund on Chevron Doctrine Overruled: ‘It Opens a New Chapter in the Battle for Clear Regulations’
The Defi Education Fund, an organization focused on defending and bringing clarity to decentralized finance, pondered on what the recent overruling of the so-called Chevron doctrine might mean for crypto. The organization explained that this decision marks a new chapter in the battle for clearer regulations in the crypto environment, putting Congress at the forefront […]
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Tether, Nodo Partner to Drive Stablecoin and Bitcoin Education in Africa
Stablecoin issuer Tether has partnered with Nodo to educate prospective African users about the use cases of stablecoins and facilitate transactions with the former’s digital asset. The six-month campaign will include Ask Me Anything (AMA) sessions, workshops, and question-and-answer sessions with crypto experts on social media. African Users to Learn of Stablecoin Use Cases The […]
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Beba and Defi Education Fund Sue the SEC Over Its Airdrop Policies
Texas apparel company Beba and the Defi Education Fund (DEF) have announced a legal complaint against the U.S. SEC. They allege that the SEC has violated Administrative Procedure Act procedures by adopting an encompassing crypto policy without an official rulemaking process. Additionally, the plaintiffs seek to clarify that a token airdropped to its users does […]
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Ramping up Blockchain Education Can Help Make South Korea the World’s Crypto Leader, Says Hashed CPO Edward Hong
According to Edward Hong, the chief platform officer (CPO) at the early-stage venture firm Hashed, South Korea’s decision to delay putting in place a comprehensive crypto regulatory framework seems to be more of a strategic move rather than hesitation. Hong insisted that the perceived delay helps to ensure that South Korea’s regulatory regime will be in sync with any internationally agreed framework.
Korea’s Position at the ‘Forefront of Global Technology Adoption’
Hong also told Bitcoin.com News that when South Korea’s crypto regulatory framework is in sync with those of its peers, this may make it possible for the Asian country to foster a “more standardized and interoperable landscape for crypto assets.” When asked about how South Korea has made itself one of the world’s leading cryptocurrency markets, the CPO suggested that this may have something to do with the country’s position “at the forefront of global technology adoption.”
Regarding the prospect of Korea becoming successful in the crypto space just as it has done with everything else, Hong said this may be possible if both industry leaders and the government increase efforts to educate people.
Meanwhile, Brian Kang, a co-founder at Factblock, which is organizing the Korea Blockchain Week (KBW) along with Hashed, told Bitcoin.com News that this year’s event will prioritize blockchain and Web3 education. Kang added that the event, which is set to be held in the first week of September, will highlight to the world the “technology’s transformative potential in addressing challenges across various industries”.
Below are both Edward Hong and Brian Kang’s respective answers to questions sent to them via Telegram.
Bitcoin.com News (BCN): According to a recent report by CCData, Korean crypto exchange Upbit saw its trading volumes jump by 42% jump in July which makes it one of the world’s largest crypto exchanges. Moreover, the Korean won (KRW) is now the second-most traded fiat currency against bitcoin (BTC) after the U.S. dollar, according to Coinhills. Can you explain to our readers how Korea came to have such a high awareness of and interest in crypto?
Edward Hong (EH): Korea is positioned at the forefront of global technology adoption. Since the turn of the millennium, coinciding with the rapid expansion of internet usage, the Web 2.0 industry has witnessed an unparalleled surge in growth in the country. This eventually led Koreans to promptly adopt innovative technologies such as blockchain and cryptocurrency. This progress has provided the foundational context for Korea’s rise to one of the world’s most active crypto markets
BCN: The Korean government appears to have prioritized investor protection with the Virtual Asset User Protection Act. Could this new act stifle innovation in the crypto space? Also, do you think regulators have tried to balance investor protection and the need for crypto innovation?
EH: Indeed, the lack of global consensus on a unified regulatory framework for cryptoassets is a significant factor contributing to South Korea’s cautious approach in delaying comprehensive industry-wide regulations. While adopting anti-money laundering (AML) requirements based on the Financial Action Task Force (FATF) recommendations is a crucial step, the approach acknowledges the challenge of achieving universally harmonized legislation in an industry that transcends borders.
South Korea’s decision to delay a comprehensive regulatory framework appears strategic rather than hesitant. It acknowledges the complexity of achieving international consistency in provisions and definitions. By awaiting greater global alignment, South Korea aims to ensure that its regulatory framework effectively fits within the broader international context, promoting a more standardized and interoperable landscape for crypto assets.
There is much anticipation surrounding South Korea’s evolving approach to crypto regulation, reflecting a forward-looking stance and an environment poised for positive developments in the crypto industry.
BCN: Factblock has been organizing Korea Blockchain Week (KBW), one of the biggest crypto events in Asia, with the co-host Hashed for years. Can you tell our readers how this started and your journey so far?
Brian Kang (BK): In 2017, Factblock, a prominent Web3 community builder in South Korea, first introduced KBW to Hashed. Hashed embraced KBW’s vision of establishing Korea as a central hub for the blockchain and Web3 industries. This shared vision prompted Factblock and Hashed to jointly decide to co-host KBW and collaborate to realize these aspirations. KBW’s primary emphasis lies in education about blockchain and Web3, as well as highlighting the technology’s transformative potential in addressing challenges across various industries.
As the blockchain/Web3 ecosystem continues to witness the emergence of numerous projects, it becomes evident that additional efforts are necessary to enhance the familiarity and accessibility of these projects to the broader public — this is a goal that KBW aims to accomplish for the industry. Aligned with this understanding, KBW maintains its commitment to fostering an environment that accelerates the widespread adoption of Web3 technologies.
BCN: This year’s KBW is scheduled to start in the first week of September. Besides the usual panel discussions or side events, how can international builders coming to Korea get maximum exposure to the local crypto ecosystem?
BK: KBW 2023 has an extensive lineup of events planned, featuring not only the main event ‘IMPACT’ but also over 100 side events during the entire week including hackathons and other events tailored for builders and founders. KBW also has curated a series of networking events where participants from across the globe will have the privilege of engaging, forging valuable relationships, and identifying business opportunities.
BCN: Korea has established itself as a global leader in electronics, automobiles, shipbuilding, and many other countries. In your opinion, what are some of the biggest challenges that impede the country’s attempt to replicate the same level of success in the crypto industry?
EH: The foremost challenge revolves around the regulations and policies governing the blockchain and Web3 industries. The absence of comprehensive guidelines necessary for industry growth has led to a sense of ambiguity for builders venturing into the Web3 space. However, it’s worth noting that this challenge is not unique to Korea; similar circumstances seem to prevail in other nations as well. Furthermore, the critical requirement is the easy accessibility and comprehensive education of blockchain technology and Web3.
Many individuals still find the technology challenging to understand and grasp. To address this, increased efforts from both industry leaders and the government to educate people are imperative. By doing so, the Web3 industry could experience unprecedented growth opportunities in the future.
BCN: Amid the so-called Operation Choke Point 2.0 in the US, many builders and developers are looking at countries that have a combination of regulatory clarity and a thriving ecosystem. In your view, why should they consider setting up a base in Korea particularly when Hong Kong, Japan, and Singapore are also going the extra mile to attract companies and talent?
EH: As mentioned in the previous question, it is evident that Korea is at the forefront of adopting new technologies. Notably, Korea has surpassed Japan, Hong Kong, and Singapore in generating a greater number of unicorns according to Statista in 2022. This distinction can be attributed to Korea’s robust technological infrastructure and notably high internet penetration rate. These factors have cultivated an abundant talent pool of skilled engineers who have already created numerous blockchain-based projects in the country.
What are your thoughts on this interview? Let us know what you think in the comments section below.
Defi Education Fund Submits FOIA Request for SEC’s Docs
The Defi Education Fund, an organization dedicated to expanding the decentralized finance environment, has submitted a Freedom of Information Act (FOIA) request to the U.S. Securities and Exchange Commission (SEC). The documents requested are linked to the SEC’s non-answer to whether syndicated term loan notes constitute securities.
Defi Education Fund Issues FOIA Request for SEC Documents Linked to Kirschner v JPMorgan
The Defi Education Fund, an organization that seeks to achieve regulatory clarity in the decentralized finance space, has submitted a Freedom of Information Act (FOIA) request to the U.S. Securities and Exchange Commission (SEC) regarding its acts on the Kirschner v. JPMorgan case.
In Kirschner v. JPMorgan, the Second Circuit of the United States Court of Appeals ordered the SEC to submit “any views it wishes to share” on considering if syndicated term loan notes could be securities. However, the SEC declined to take sides, stating that it was “not in a position to file a brief on behalf of the Commission in this matter” after asking for two extensions to inquire on the subject.
While some were relieved by the SEC’s answer due to the potentially disruptive effect of its opinions on the resolution of the case and the health of the lending market in the U.S., the Defi Education Fund considered this strange behavior.
Amanda Tuminelli, CLO of the Defi Education Fund, stated:
Why would the SEC want to avoid writing thoughtful analysis on whether something is a security? (said every crypto lawyer ever). Might it be that they are worried about publicly laying out how something *is not* a security?
Crypto-Related Implications
The Defi Education Fund believes that the way the SEC acted (or failed to act) in this case, might be linked to its posture on crypto and the ruling in the SEC v. Ripple case.
According to Tuminelli, who shared the perspective of Bloomberg journalist Adam Levine, if the SEC declared that these loans were not considered securities, it would set a precedent conceding that some investment opportunities are not securities. Also, the commission could be accused of favoritism to big incumbents due to the involvement of JPMorgan in the case.
On the contrary, if the SEC declared these loans were considered securities, this could also be viewed as an overreaching attempt because most loans have not been treated as securities, a position that might spur a conflict with the court’s views.
Tuminelli concluded:
Maybe we get something that evidences what the crypto industry has said for years – the SEC is avoiding taking a concrete public position on ‘securities’ analysis so they can continue to regulate by enforcement.
What do you think about the Defi Education Fund’s FOIA request? Tell us in the comments section below.
CoinEx Charity’s Effort to Support Education Is Appreciated by Kacuv
PRESS RELEASE. Recently, CoinEx Charity has kicked off its second educational welfare program in Türkiye. In the first program, all the students receiving donations have continued their studies in the new semester. Since last year, CoinEx Charity has participated in the Umudum Scholarship Program initiated by the local charity organization Kacuv in Türkiye, offering support in tuition to 50 local impoverished students.
The Umudum Scholarship Program provides scholarships for students in preschools, primary schools, secondary schools, and universities in Türkiye who need financial support to continue their studies. This program aims to boost students’ learning motivation and ensure that their education is not interrupted due to financial difficulties.
CoinEx Charity’s Effort to Support Education
Since last May, CoinEx Charity has launched a global educational welfare program, with concrete effort in poverty alleviation and educational welfare activities in impoverished regions. After more than a year of exploration, CoinEx Charity has blazed a trail, which involves global visits, targeted assistance, and joint donations. So far, CoinEx Charity has donated over 0,000 worth of learning supplies to schools in more than 20 regions worldwide, established several charitable libraries, and donated over 0,000 to multiple educational welfare programs jointly with official charity organizations in various regions.
With the support of CoinEx Charity’s educational welfare program, more than 10,000 impoverished children worldwide have returned to school and successfully completed their studies. The new school supplies and libraries have also provided them with better learning conditions, fulfilling their desire to continue their education. The journey of educational welfare has just begun, and CoinEx Charity is not alone. Every bit of its effort for educational welfare will reach other compassionate social organizations and institutions, and CoinEx Charity will partner with more charity institutions in this undertaking.
Thanks from Kacuv
This year, Türkiye has been hit by a severe earthquake, causing millions of children to lose their homes and schools. According to the latest report from UN News, the earthquake in this country has dealt a heavy blow to nearly four million local students, and many of them are unable to continue their studies after the disaster.
Currently, CoinEx Charity’s first educational welfare program in Türkiye has come to an end, and the second has kicked off. In the second program, we have helped some of the children affected by the earthquake resume their studies. As a token of gratitude for CoinEx’s loving support, Kacuv posted a thank-you poster on Twitter, with these words: “We want to thank CoinEx Charity for its continuous support of our Umudum Scholarship Program. It has provided scholarships for 50 disadvantaged students in Türkiye to ignite their dreams for education.”
On CoinEx Charity’s journey of educational welfare, we often receive thank-you letters from all over the world, including from Phuong Xa High School in Vietnam, Human Development Foundation (DHF) in Thailand, and UNICEF. These sincere thank-you letters represent recognition for CoinEx Charity’s effort in educational welfare, and encourage us to continue our commitment to this undertaking.
CoinEx Charity firmly believes that children should never be deprived of the right to education by economic difficulties. However, in remote areas with limited educational resources, children face many challenges in gaining access to quality education, and some even quit school because of financial reasons. The road ahead will be long, and CoinEx Charity will do its best to provide more educational opportunities for children worldwide, while calling on more global charitable organizations to engage in this cause and jointly drive the development of education for public welfare.
This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.
Crypto Exchange Bybit Partners With Innovation Growth Hub to Launch Blockchain Education Program
Bybit has said it is inviting African youths that wish to attend a blockchain education training program to submit their applications. The training and educational program is expected to help the participating individuals learn the fundamentals of blockchain technology.
Understanding the Blockchain
Bybit, one of the world’s leading global crypto exchanges, has partnered with Innovation Growth Hub to launch a blockchain education and training program targeting African youths. The training program is expected to help young people learn and understand the fundamentals of blockchain, as well as how this creates new opportunities.
According to a local report, experts in the blockchain field are expected to lead or oversee the interactive discussions and online lectures. An unnamed spokesperson for Bybit is quoted in the report highlighting the importance of the training program.
“Our goal is to give young people the knowledge and skills they need to understand and engage with blockchain technology. Hence, we will work together with Innovation Growth Hub to create a unique learning experience for participants,” the spokesperson said.
In addition to helping the youths acquire knowledge about blockchain and its probable uses, the training program is also intended to acquaint them with the workings of Bybit’s ecosystem. Participants also stand a chance of winning prizes even as they continue to learn.
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The HDF Educational Welfare Report: CoinEx Charity Empowers Children’s Education Through Charitable Giving
PRESS RELEASE. Since last year, CoinEx Charity has been funding children in poor areas, bringing them back to school to continue their education. The Mercy Children’s Educational Welfare Program is still ongoing and has helped over 20,000 children with funds from CoinEx Charity. Recently, CoinEx Charity received a report from the Human Development Foundation (HDF), a charitable organization based in Thailand. In its report, HDF thanked CoinEx Charity for its charitable donations and illustrated how the scholarship funds were used.
HDF is a non-profit and non-denominational charitable foundation located in Klong Toey, the largest slum community in Bangkok, Thailand. To help poor children, HDF has established the Mercy Centre which currently houses 100 children, more than 20 of whom were born with HIV/AIDS. Since 2022, CoinEx Charity has been reaching out to the children at HDF Mercy Centre through donations. By providing protection, care, and appropriate education for the kids, HDF and CoinEx Charity are working together to prepare them for a future full of opportunities and facilitate their sound growth with love and warmth.
According to the HDF report, CoinEx’s generous donation has been used to purchase school uniforms, shoes, books, stationary, and other essential items to support the continued education of the children living at the Mercy Centre, as well as to pay school fees. The opportunities afforded by education help these kids to break the cycle of poverty, and give them the knowledge and capabilities to assist in securing skilled jobs as adults.
This February marks the last month of academic studies, and the students will soon graduate or move up to the next grade. In its report, HDF noted that the school year has gone well, the students are learning, thriving, laughing, and playing, and will be back in new classes after the Songkran holidays.
HDF also expresses gratitude to CoinEx Charity for its help in providing daily teaching supplies for the children at the Mercy Centre. “Thank you to CoinEx for your assistance in providing for the day-to-day necessities of education for our Mercy kids, and for the larger role you also play in supporting the Human Development Foundation, keeping this invaluable center open as a source of support for the whole community, continuing children’s education and caring for each heart, each child, with love. This support of our kids’ education is so very important; it is a long-term investment in their futures and their adult lives. Thank you to CoinEx for partnering with us in our work and for helping to make a difference in the lives of so many of the children cared for in our homes. We at the Human Development Foundation greatly appreciate CoinEx’s continued support,” the report says. The HDF report demonstrates the institution’s recognition of CoinEx Charity’s long-term educational charity efforts. Going forward, CoinEx Charity will continue to empower educational welfare worldwide and help more kids continue their education.
Consistent educational welfare efforts
Over the past year, with a full-hearted commitment to charity, CoinEx Charity has visited the world’s most vulnerable and remote areas, leaving its footprints across countries that include Türkiye, Syria, Thailand, Vietnam, Indonesia, Brazil, Nigeria, India, South Korea, Germany, Venezuela, and the Philippines. Through different forms of charity donations and educational welfare programs, CoinEx Charity has cared for children in impoverished areas, passing on a message of love and charity.
In the future, CoinEx Charity will stay committed to its original goals and help poor children in poverty-stricken areas strive for academic success through concrete action, creating more value for communities. Meanwhile, CoinEx Charity calls on charitable organizations and kind-hearted individuals worldwide to contribute their due share to poor children’s education and lives for the long-term development of educational welfare.
This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.
Binance to Support Georgia’s Crypto Industry Through Blockchain Education
Digital asset exchange Binance has agreed to help Georgia to develop its cryptocurrency sector by launching educational and other blockchain initiatives. The leading coin trading platform has been expanding its presence in the region with similar projects in other countries.
Binance and Georgian Tech Agency to Jointly Develop Country’s Crypto Economy
The world’s largest cryptocurrency exchange, Binance, announced the signing of a memorandum of understanding with Georgia’s Agency for Innovation and Technology (GITA). The sides intend to work together on the implementation of educational and community initiatives in the blockchain space and the further development of the nation’s crypto industry.
The agreement comes after a meeting between the trading platform’s CEO Changpeng Zhao and Prime Minister Irakli Garibashvili in November, during which investments were also discussed. The cooperation will cover projects by both Binance Academy and Binance Charity as well as organizing local events and hackathons by BNB Сhain, a press release detailed.
“Our goals are in line with the Georgian Agency for Innovation and Technology’s goals — together, we can create an effective system in Georgia, whereby innovation and technology can be developed,” Binance’s Regional Director Vladimir Smerkis was quoted as stating. He also noted:
For a long time, we have seen a huge interest in the cryptocurrency market and in particular, crypto education in Georgia. I want to separately emphasize that Georgia is one of the most innovation-driven countries in the region.
GITA Chairman Avtandil Kasradze pointed out that the blockchain-related hackathons and workshops that will be held in Georgia’s tech parks will facilitate the formation of new startup ideas and the implementation of projects oriented towards commercialization.
This is not Binance’s first educational initiative in Georgia, a crypto-friendly destination that plans to update its digital asset regulations and legalize the industry. In January, the exchange announced the signing of a memorandum of cooperation with the country’s Business and Technology University (BTU) to deliver blockchain education to its students. Binance Academy will provide educational materials on blockchain, Web3, NFTs, and cryptocurrency.
Binance has been engaged in similar initiatives in other countries in Eastern Europe, the post-Soviet space, and the Caucasus region as part of its focus on expanding presence in the region. In December, the global crypto firm launched a blockchain education program in Kazakhstan’s universities and offered to help Azerbaijan in efforts to adopt crypto regulations.
Do you think educational projects support the wider adoption of cryptocurrencies in new markets? Share your thoughts on the subject in the comments section below.