Daily Digest - 26th September 2022

Headlines

▌Moscow Exchange Is Preparing to Become a Cryptocurrency Exchange

The Moscow Exchange, Russia’s largest stock exchange, is preparing to become a cryptocurrency exchange. The Moscow Exchange (MOEX) is also drafting a bill aimed at allowing digital financial assets (DFA) as well as DFA-based securities trading.

Cryptocurrency

▌Apple Will Allow Apps to Sell NFTs in Its App Store

Apple now allows apps that sell NFTs to be installed and sold through its App Store. Developers of current apps can sell NFTs in apps, and new apps can also set up NFTs in them. However, many focus on Apple's hefty 30 percent cut of each transaction, and according to The Information, Magic Eden pulled its service from the App Store after learning of the policy.

▌ApeCoin Community Initiates a New Proposal AIP-88 to Launch NFT Launchpad

The ApeCoin community has initiated a new proposal, AIP-88, which aims to launch Launchpad for the ApeCoin NFT project and integrate the ApeCoin community into one NFT delivery platform. AIP-88, titled “Earning ApeCoin Income with No-Code NFT Drop Platform and Launchpad,” was initiated by Bored Ape Yacht Club (BAYC) member and NiftyKit co-founder Dan, looking to fund developers with this self-service smart contract-based Launchpad platform Support and build deep integration with ApeCoin and set it as the base token of the creator economy.

▌MiCA Has Hindered the Adoption of Stablecoins in the EU

The digital asset landscape in the European Union is evolving ahead of the passage of the Markets in Crypto-Assets (MiCA) regulation framework that aims to instill regulatory clarity around crypto assets. While well-intentioned, the current structure of MiCA may throttle innovation. But if a revised version of this policy passes, it could see the European Union become one of the leaders in the digital payment space.

▌Coinbase Faces $350M Lawsuit Over Patent Infringement From Former ICO, Veritaseum

The biggest crypto exchange in the United States, Coinbase, is being sued by another crypto company, Veritaseum Capital, which alleges that the firm infringed on its patented crypto transfer technology. The patent technology facilitates low-trust peer-to-peer value transfer and is “conditioned on input from or participation of a third party.” Veritaseum Capital says some of Coinbase’s services infringe upon its patent and is requesting $350 million in damages.

▌98% Decrease in ETH Issuance Since Merge

According to data from Ultra Sound Money, Ethereum’s issuance rate has fallen by 98% since the Merge. Since its transition, the network’s supply has grown by 7,385.47 ETH, whereas if it were still running on the Proof-of-Work (PoW) consensus model, it would have added 128,422.13 ETH. Within the last 24 hours, ETH supply has been up by 0.34%. Under PoW, it would have been 3.86% over the same period. However, Ethereum is not yet deflationary because the overall token issued is still higher than the token burned. Supply is still growing even though it is at a very slow pace.