politics / 10 posts found

New EU Law Will Regulate NFT Collections Like Cryptocurrencies

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On August 2, during a panel at Korea Blockchain Week, European Union (EU) Advisor Peter Kerstens offered new insights into the EU’s attempts to create broad regulatory measures in the crypto and NFT spaces. According to Kerstens, under the Markets in Crypto-Assets (MiCA) law, NFT collections will receive the same treatment as cryptocurrencies, CoinDesk reports. With this new classification, EU citizens hoping to put an NFT collection up for sale will fall under the umbrella of crypto-asset service providers (CASPs), and will need to receive express authorization from the EU before offering up their services (or wares) to the public. […]

Japan’s Central Bank Has Abandoned Its Digital Currency Plans

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The Bank of Japan (BoJ) is scrapping its planned host of central bank digital currency (CBDC) services due to a reported lack of public interest, according to an initial report from Asia Times. Among other things, this means one aspect of Japan will remain unchanged since the Japanese bubble economy of the 1980s: its reliance on conventional, fiat-based currency. This move came despite the promise of CBDC, which could be the first truly peer-to-peer digital form of conducting money transactions, as existing digital wallets still require the presence of intermediary institutions like financial institutions, issuing and acquiring banks, payment service […]

A Senator Is Calling for Google and Apple CEOs to Stymie Crypto Scams

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For all of Web3’s successes in celebrating diversity and raising funds for unquestionably noble causes, the Web3 space still has its fair share of bugbears — scammers. Thefts, rug pulls, and the like remain a distinct risk for anyone making their first steps into Web3. However, these bad actors don’t just look to target members of the crypto and NFT communities on their home turf via wash trades. Some have looked to gain access to users’ crypto wallets in a seemingly innocent way: via mobile apps. The lengths that scammers have gone to forcibly part users from their hard-earned crypto […]

A New NFT Project Celebrates Autocrats With Poison Cakes

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There are many ways to interpret the decline of democratic institutions and the subsequent rise of authoritarian leaders around the globe in the last 30 years. But any explanation, according to Ben Rhodes, the former Deputy National Security Advisor for Strategic Communications and Speechwriting under President Barack Obama, must include the following: “The first was the excess of globalization, the excess of capitalism, and the creation of exploding inequality happening at the same time that globalization is […] encroaching on people’s national identity or tribal identity. […] Coming on the heels of people already thinking, ‘Is this working for us? […]

Talks This Week May Decide the Future of NFTs in the EU

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European Union (EU) negotiators are meeting this week in an attempt to finalize a broad range of rules related to crypto and NFTs. Specifically, the new regulations are aimed at combatting money laundering and could establish an authorization regime for crypto service providers. The documents were prepared by France, CoinDesk reports. Notably, these rules could force people who create non-fungible tokens (NFTs) to centralize and register with governments. According to the documents, this means that an NFT creator would need to be “a legal person rather than a decentralized entity.” As a result, they would have to register their information […]

Politicians Are Turning to NFTs to Fund Their Campaigns

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NFTs have revolutionized the world of crowdfunding. Instead of relying on platforms like Kickstarter or Indiegogo to raise money, many people are using the proceeds from NFT sales to support charitable causes. In the first few months of 2022 alone, activists and organizations raised millions to eliminate medical debt, protect reproductive rights, and help those affected by war. NFTs have been used to raise money in just about every sector — including politics. Even former presidential candidate Andrew Yang sees the opportunity to use NFTs and Web3 to drive fundraising and community-building efforts. And he isn’t alone. As the U.S. […]

Romania Plans to Use NFTs To Decrease Bureaucracy (Updated)

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Red tape, bureaucracy — whatever you want to call it — is the reason why everybody dreads going to the DMV (or any government office, for that matter). Romania might have the answer to this, and it involves the use of NFTs. On June 14, Romania’s National Institute for Research and Development In Informatics (ICI) announced an ongoing project that’s slated to make life easier for all its citizens, web3 native or not. It’s an institutional NFT marketplace that, according to ICI Director Adrian Vevera, would “evolve the collaboration between citizens and institutions using a modern digital framework.” Say goodbye […]

Exclusive: Pussy Riot & Salem Ilese Drop ‘Crypto Boy’ NFTs For Reproductive Rights

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Over the past year, it’s become clear that philanthropy is one of the most popular use cases of NFTs. For example, we’ve seen NFT projects raise money to help people suffering in war-affected Ukraine and NFT projects aimed at improving health outcomes for diverse communities. To date, a wide range of artists, brands, DAOs, and more have used NFTs to both help those in need and support causes they believe in. Now, in her very first endeavor in the crypto world, Salem Ilese has become one of the latest individuals to leverage NFTs for a charitable cause. In an exclusive […]

Art for Good: How Ukrainian Children Are Helping Fund Humanitarian Efforts via NFTs

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Various entities throughout the Web3 space have stepped up to aid in fundraising efforts for Ukraine during its ongoing conflict with Russia. One initiative in particular hopes to shed light on some of the country’s most affected, yet underrepresented voices: Ukraine’s children. “Their youth is still not lost” The ongoing humanitarian crisis in Ukraine has left thousands of children with uncertain futures. Stuck underground in bomb shelters, bunkers, and train stations, many of these kids have turned to art to pass the time. Ukrainian-born artist Bonnie Panasenko hopes to give all these displaced children a unified voice with the digital […]

Scams Explained: What Are Rug Pulls? Are They a Crime?

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Back in March of 2022, the U.S. Department of Justice (DOJ) charged Frosties founders Ethan Nguyen (“Frostie”) and Andre Llacuna (“heyandre”) with conspiracy to commit fraud and conspiracy to commit money laundering in what is considered to be the agency’s first NFT “rug pull” bust. The ice-cream-themed project, which was heavily marketed as a “cool, delectable, and unique” collection of 8,888 NFTs, also promised investors raffles, merch, and a “special fund to ensure the Frosties’ longevity.” They didn’t exactly live up to these promises.  Following a two-month investigation, prosecutors in the Southern District of New York arrested and charged Nguyen, […]
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