This Week in the News - February 6

1. Roofstock Sells Alabama Rental Property Via NFT – Roofstock, a real estate investment platform, has sold a property using a non-fungible token (NFT) on the blockchain. This marks the first time a physical property has been sold through the use of NFTs, which are unique digital assets that cannot be replaced or divided. The sale highlights the growing trend of using blockchain technology to sell and trade assets, including real estate. (source)

2. Australia To Tackle Crypto Regulation in Three Stages– Australia plans to regulate cryptocurrency in three stages. The first stage will focus on anti-money laundering and countering the financing of terrorism. The second stage will address consumer protection, market integrity and privacy. The third stage will focus on international cooperation and the technology's use in the financial system. The government aims to strike a balance between innovation and security in the crypto space. (source)

3. European Union Bank Again Uses Ethereum to Explore Tokenized Bonds– The European Investment Bank is issuing a digital bond using the Ethereum blockchain. This marks the first time a AAA-rated financial institution has used a public blockchain for a bond issuance. The issuance will allow the bank to reach a wider pool of investors and increase transparency and efficiency in the process. The EIB aims to explore new ways to finance sustainable development using blockchain technology. (source)

4. Crypto Exchange Binance to Suspend US Dollar Bank Transfers This Week– Cryptocurrency exchange Binance will suspend US dollar deposits this week. The move is due to issues with banking partners which has caused delays in processing USD deposits. Binance has stated that it is working on finding a solution and that it will resume USD deposits in the near future. The exchange will continue to support USD withdrawals and trading during this time. (source)

5. Yuga Labs Settles With Ryder Ripps Collaborator in Trademark Suit– Yuga Labs has settled a trademark dispute with a collaborator of Ryder Ripps. The suit was filed over the use of the term "Yuga" in the collaborator's art projects. The terms of the settlement have not been disclosed, but the parties have agreed to resolve the matter amicably. The resolution brings the lawsuit to a close and allows both parties to move forward. (source)

6. Indian Government Introduces New Crypto Tax Penalties– The Indian government has introduced new tax penalties for cryptocurrency transactions. These penalties will be imposed on those who do not report their crypto holdings and transactions accurately, and they are part of a larger effort by the government to regulate the crypto industry and bring it under their control. The move has been met with mixed reactions, with some in the crypto community calling it a step forward in legitimizing the industry, while others view it as an attempt to stifle innovation and restrict the freedom of individuals to use and invest in cryptocurrencies. (source)