Blockchain and Cryptocurrency News Roundup

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  • March 21, 2022
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21 March 2022

Here’s a short summary of some of the biggest headlines in Crypto. HSBC Enters Metaverse Space through Collaboration with the Sandbox, Ukrainian President Signs Law to Establish Regulatory Framework for Crypto, and finally, U.S. Democrats Propose Bill to Restrict Russian Crypto Use amid Ukraine Crisis.

HSBC Enters Metaverse Space through Collaboration with the Sandbox

HSBC Bank announced Wednesday a partnership with The Sandbox, a blockchain gaming platform, to build its presence in the Hong Kong-based company’s metaverse.

Through the partnership, HSBC acquired a plot of LAND, virtual real estate in The Sandbox metaverse, which it will develop to engage, entertain, and connect with sports, esports, and gaming enthusiasts.

The Sandbox is a virtual world where players can build, own, and monetize their gaming experiences in the Ethereum blockchain. The Sandbox is a subsidiary business owned by Hong Kong-based blockchain gaming developer Animoca Brands.

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Ukrainian President Signs Law to Establish Regulatory Framework for Crypto

Amidst the ongoing war on its shores, President Volodymyr Zelenskyy has signed into law the bill that will legalize digital currencies in Ukraine.

According to a press release published by the Ministry of Digital Transformation, the new law helps in creating conditions for the launch of a legal market for virtual assets in Ukraine.

The new industry will be regulated by the National Securities and Stock Market Commission, which re-affirms the determination by the government “towards bringing the crypto sector out of the shadows and launching a legal market for virtual assets in Ukraine.”

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U.S. Democrats Propose Bill to Restrict Russian Crypto Use amid Ukraine Crisis

U.S. Democratic senators introduced a bill to the U.S. President Thursday that they propose to impose sanctions on foreign cryptocurrency companies with business to Russian entities, preventing them away from transacting with U.S. customers.

The bill also involves wanting the Treasury Department to block digital asset exchanges operating in the United States from trading with any Russian crypto users.

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