The tokenization of real-world assets has been tipped as a major use case of blockchain technology that could drive Web3 adoption. In episode 35 of Cointelegraph’s Hashing It Out podcast, host Elisha Owusu Akyaw interviews Sanjay Raghavan, vice president of Web3 Initiatives at Roofstock onChain, about tokenized real estate on the blockchain and how digital real estate investing interacts with the nonfungible tokens market and the decentralized finance landscape. Raghavan also talks about fractional nonfungible tokens (NFTs), regulations and the risks related to Web3 real estate platforms.

Raghavan explains how real estate is sold on the blockchain using NFTs. Companies that sell real…

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SafeMoon, a decentralized finance project exploited in March, resulting in a net loss of $8.9 million in BNB, has been charged by the United States Securities and Exchange Commission and its key executives for security rules violations and frauds.

The funds associated with the exploit have been on the move via centralized exchanges and Match System, a blockchain analytic firm, believes these transfers via CEX could become critical for law enforcement agencies.

Sean Thornton from Match System told Cointelegraph that they suspect centralized exchanges were used as an intermediate link in the money laundering chain.

“On CEX, funds could be exchanged for other tokens and withdrawn further,… Read more on Cointelegraph

Hong Kong’s securities regulatory authority has issued two circulars to regulate digital asset tokenization in its pursuit of becoming a prominent Web3 hub in Asia.

The Securities and Futures Commission (SFC), in these circulars, offered instructions to intermediaries participating in tokenized securities activities and outlined the criteria for tokenizing investment products authorized by the SFC.

The SFC considers tokenized securities as traditional securities with a tokenization layer. As a result, the exact legal and regulatory requirements that apply to conventional securities markets also pertain to tokenized securities.

The regulator specified that tokenized securities offerings…

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Payment giant PayPal has received a subpoena from the United States Securities and Exchange Commission (SEC) regarding its U.S. dollar-pegged stablecoin.

The Enforcement division of the SEC has sent a subpoena to PayPal related to its PayPal USD (PYUSD) stablecoin, the firm disclosed on Nov. 2, according to a report by Reuters.

The action comes about three months after PayPal launched its PYUSD stablecoin in early August. The stablecoin is issued by Paxos Trust and backed by U.S. dollar deposits, short-term Treasurys and similar cash equivalents. PYUSD is based on the Ethereum blockchain and is aimed at handling digital payments and Web3.

PayPal and Paxos did not immediately respond to…

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As the crypto industry continues to grow, it becomes increasingly intertwined with traditional finance (TradFi) to the benefit of end users. TradFi is notoriously slow, inefficient and expensive. International wire transfers, which take days and double-digit dollar fees in most cases, are a perfect embodiment of the current state of traditional finance.

By comparison, decentralized finance (DeFi) has the potential to provide similar services, including fund transfers, payments and storage, much quicker and at lower costs. However, the majority of financial technology (fintech) applications offered by TradFi services win the users in terms of user experience and simplicity, leaving the…

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Switzerland’s St.Galler Kantonalbank (SGKB), one of the largest banks in the country, is moving into cryptocurrency by introducing Bitcoin (BTC) and Ether (ETH) trading to its customers.

SGKB has partnered with the global cryptocurrency-focused bank SEBA to offer its clients digital asset custody and brokerage services.

Announcing the news on Nov. 1, SGKB and SEBA said that the new crypto service is immediately available to select SGKB customers following a short period of testing earlier this year. Starting off with Bitcoin and Ether support, SGKB plans to expand its offerings to additional cryptocurrencies based on client demand.

Founded back in 1868, St.Galler Kantonalbank is a major…

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Reacting to the rising attempts from bad actors to dupe crypto investors, the United Kingdom’s National Crime Agency (NCA) plans to form a specialized cryptocurrency and virtual assets team to counter the issue.

The NCA posted a job opening on Nov. 4, looking to hire six individuals to create a new team focused on crypto crimes — which will either fall under the National Cyber Crime Unit (NCCU) or the Digital Asset Team. The responsibilities include:

“The role will support existing and new investigations where specialist cryptocurrency experience is required along with taking a proactive lead in identifying targets for further development.”

The role requires candidates to have the…

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The Abu Dhabi Global Market (ADGM) Registration Authority has introduced comprehensive regulations governing Web3 organizations. The international financial free zone’s regulatory framework is “purpose-built” and the first of its kind, the agency claimed.

The Distributed Ledger Technology (DLT) Foundations Regulations will provide for the operation of blockchain foundations, Web3 entities, decentralized autonomous organizations (DAOs) and traditional foundations expanding into DLT. Blockchain foundations provide financial and other forms of support for a blockchain without direct involvement in it.

The regulations enable the creation of a “DLT Foundation” by submitting a signed…

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