• SHIB booth at SXSW 2023 is a popular spot in the exhibition hall.
• John Richmond has provided avatars with digital makeovers.
• The metaverse industry will likely become mainstream over the next 6-10 years.

SHIB Booth Popular at SXSW 2023

The SHIB booth was a hit at this year’s SXSW conference in Austin, Texas. Shibarium, the layer-2 protocol for the Shiba Inu (SHIB) ecosystem release of beta version last weekend also attracted attention from attendees. Badge holders were able to experience the creation and history of SHIB for all 3 days of the event. This year’s SXSW XR & Metaverse category had a special fanbase for conferences, exhibits, and screenings, though many consider the metaverse not yet ready for mainstream consumption.

John Richmond Brings Fashion to Metaverse

Fashion designer John Richmond has taken his work into the digital world by providing makeovers to avatars through digital wearables he designed himself. His presence at SXSW was featured in WWD’s tweet on March 14th where they announced that „Shib the metaverse will be on full display“ at their booth during the conference.

Metaverse Expected to Become Mainstream Soon

Experts agree that it won’t take long for metaverse technology to become mainstream—estimated time frame being 6-10 years from now. At SXSW 2023, attendees got an inside look into how this revolutionary innovation works and its potential applications outside of gaming and entertainment industries such as fashion design, collaboration opportunities, etc.

SXSW Showcases Innovations Across Industries

SXSW is an annual event that brings different innovations from various fields together under one roof and encourages collaborations between them to share their unique ideas and visions with each other as well as with industry professionals and consumers alike who come out to explore these offerings firsthand.

Conclusion

Though still considered somewhat niche by many, there is no denying that metaverse technology is on its way up and should soon become part of our everyday lives in some capacity or another within just a few short years—and SHIB certainly played its part during this year’s SXSW conference in ushering in that future!

• Thai Cabinet announces tax benefits for businesses that issue digital tokens.
• Exemption covers both main and secondary markets for ICOs issued by corporations or registered organizations.
• Bank of Thailand places limits on use of digital assets to protect financial stability and economy.

Thailand Excludes Firms Issuing Digital Tokens From Taxation

The Thai government recently announced that they will be exempting businesses that issue digital tokens for investment from paying corporate income tax and value-added taxes. This move is seen as a positive step towards the crypto sector, with Finance Minister Arkhom Termpittayapaisith stating that the exemption covers both primary and secondary markets for ICOs issued by corporations or registered organizations.

Boosting Crypto Expansion

Analysts predict that investment token sales will raise about $3.71 billion over the next two years, resulting in a loss of about $1 billion in tax income for the government. The Thai government has eased up on crypto trading laws last year, leading to increased cryptocurrency use within the country.

Limits On Use Of Digital Assets

The Bank of Thailand and other authorities have placed limits on the use of digital assets for payments or other services in order to protect their financial stability and economy. These authorities are also experimenting with Central Bank Digital Currency (CBDC) as a possible cornerstone of tomorrow’s banking system.

Tax Benefits For Investment Tokens

Deputy Government Spokesperson Rachada Dhnadirek said that enterprises will use investment tokens and other means such as debentures to obtain funds, with investors getting Value-Added Tax (VAT) exemptions when purchasing these tokens.

Conclusion

The Thai government’s decision to provide tax benefits to firms issuing digital tokens is seen as a step towards promoting cryptocurrency growth within their nation, while balancing it with necessary regulations set forth by their central bank to maintain economic stability.

• Global Relay has launched a new digital information service called Global Relay Intelligence & Practice (GRIP).
• GRIP is a daily business content service providing digestible, practical information for regulatory professionals to stay apprised of the latest developments in compliance and technology.
• Built and operated by a team of journalists with over 90 years of combined experience in reporting for specialist business communities, it is available every business day to ensure its specialist subscriber base receives the very latest regulatory and operational updates.

Global Relay Launches New Digital Information Service

Global Relay, a leading provider of electronic communication compliance and archiving solutions, today announced the launch of its new digital information service called Global Relay Intelligence & Practice (GRIP). GRIP is a daily business content service providing digestible, practical information for regulatory professionals to stay apprised of the latest developments in compliance and technology. With headlines around key markets, verticals, and trends – including fintech, crypto regulation, and emerging ESG compliance – GRIP gives practitioners in regulated industries the insights needed to make informed decisions in a shifting compliance landscape.

Background Of Global Relay

Global Relay is a pioneer in cloud computing services for the financial sector. Founded in 1999, Global Relay provided cloud archiving solutions for finance brokers to capture and retain email communications compliantly. Today, the company delivers integrated messaging, archiving, supervision, and eDiscovery solutions to the world’s largest banks and other regulated organizations to store and manage their data compliantly.

Challenges Faced By Regulatory Professionals

„Over the past 23 years in this space,“ says Alex Viall from Global Relay „we have seen regulation continually evolve with increasing demands around privacy, security, and data governance.“ As one of the first cloud providers they have constantly adapted to these changes as well as innovated to help customers meet challenges they face while dealing with complex corporate world.

The Aim Of GRIP

Now they want offer that insight as well as expertise to larger compliance community through GRIP which was built by team journalists with over 90 years of combined experience in reporting for specialist business communities according journalistic standards truth accuracy objectivity available every business day so that their subscriber base receive very latest regulatory operational updates .

Conclusion

GRIP provides valuable intelligence as well as insights on practical compliance ,regulatory change how maximize technology streamline these practices helps practitioners regulated industries make informed decision shifting compliance landscape .

• This report examines advancements in exponential technologies, such as Blockchain, AI, Computing, Data, Materials, and User Interface to identify opportunities for new ADAS features in the automotive industry.
• The publisher categorizes emerging ADAS features based on their value addition and technological maturity.
• The report covers topics such as Autonomous Driver DNA, Self-charging EVs, Vehicle Wallets, NFT-based service history, and Autonomous Guardian.

Overview of Automotive Industry

The „Top Blockchain, NFT, Digital Wallet, Metaverse and Other WEB3 Opportunities in Automotive“ report has been added to ResearchAndMarkets.com’s offering. Autonomous Driver DNA, Self-charging EVs, Vehicle Wallets, NFT-based service history and Autonomous Guardian are some of the top ranking emerging ADAS opportunities in the automotive industry. The publisher examined advancements in exponential technologies such as Blockchain, AI Computing Data Materials and User Interface to identify opportunities for new ADAS features that improve cabin safety boost passenger convenience and enhance personalization. These features are categorized based on their value addition and technological maturity.

Vehicle Wallet for EV Charging

Digital Identities can be used to create a vehicle wallet for charging electric vehicles (EVs). BMW is currently conducting a pilot program using renewable energy sources for EV charging with this technology.

NFT-Based Service & Updates‘ Vehicle History

Non Fungible Tokens (NFTs) can be used to store service updates or vehicle history data which may include maintenance schedules or recalls so customers have easy access to all relevant information regarding their car at any time..

Autonomous Guardian

Autonomous self-charging electric cars offer greater convenience by eliminating the need for manual charging while acoustic vehicle monitoring & signalling allow vehicles to alert drivers of potential danger before it is too late. Autonomous guardian also helps keep drivers safe by monitoring the environment around them while driving.

Conclusion

This report provides an insight into various blockchain & WEB3 applications with high potential along with different maturity levels that could help shape the future of the automotive industry from autonomous driver DNA solutions to self-navigation & route optimization services. Additionally it also covers strategies investments partnerships organizational structure progress of regulation etc so readers can plan ahead accordingly when it comes to deploying these solutions commercially or even investing in related companies/products/services etc

Summary
•The International Monetary Fund (IMF) recently issued a final report on El Salvador’s economy, recommending the government address potential risks associated with Bitcoin adoption.
•El Salvador has been steadily investing in Bitcoin, leading to increased economic growth of 2.8% in 2022.
•Bitcoin prices have recovered from its three-week low and are now approaching $22,000 as whale investors take advantage of the dip.

IMF Calls For Addressing of Risks

The International Monetary Fund (IMF) issued a final report on the economy of El Salvador on February 10, 2023. From January 30th to February 8th, the IMF conducted an Article IV consultation with the government of El Salvador and warned that „risks should be addressed“ as it relates to bitcoin adoption. The government has been consistently investing in bitcoin and adding to its national wealth. The agency stressed the need of having more information on the government’s bitcoin transactions and the financial health of the state-owned bitcoin wallet, Chivo.

Economy Increased Strongly in 2022

The IMF reports that despite unfavorable economic shocks, the Salvadoran economy increased strongly in 2022 with growth hitting 2.8%. The IMF claims that due to rising economic risks, access to foreign financial markets for El Salvador remained restricted throughout 2022.

Bitcoin Prices Approaching $22K

Over the weekend, Bitcoin climbed closer to $22,000 as traders and experts warned against too pessimistic emotions in the crypto market. According to on-chain analytics platform Material Indicators, opportunistic whales pounced on Bitcoin after its price reached a three-week low the previous week.

Government’s Bitcoin Acquisitions Need More Openness

The IMF now believes that most threats foreseen by them in 2021 have been averted but calls for more openness around government’s bitcoin acquisitions and counterparties‘ concerns regarding these investments need to be addressed before any risks can arise from them.

Conclusion

El Salvador continues to invest heavily into Bitcoin while maintaining consistent economic growth despite unfavorable conditions worldwide – showing great promise for further adoption elsewhere globally . However , more transparency is needed so potential risks can be effectively addressed .

• WisdomTree’s crypto portfolio dropped in value by $235 million in the Q2 of 2022 due to a prolonged bear market in Bitcoin and other cryptocurrencies.
• As of December 31, 2022, the total value of the cryptocurrency funds managed by WisdomTree was $136 million.
• Despite receiving approval from the SEC to add nine blockchain-enabled ETFs to its platform, the securities regulator has repeatedly shot down attempts to create a Bitcoin spot exchange-traded fund.

WisdomTree’s Crypto Holdings Decrease Over 60%

WisdomTree’s crypto portfolio had decreased significantly during the fourth quarter of 2022 due to an extended bear market in Bitcoin and other cryptocurrencies. The total value of all cryptocurrency funds managed by WisdomTree had declined from $163 million at the beginning of the quarter to only $136 million by December 31st 2022. This resulted in a net loss of $28.3 million for WisdomTree despite quarterly income increasing to $73.31M.

Terra Luna Bankruptcy Impact

The failure of Terra Luna and its associated hedge fund, Three Arrows Capital, as well as crypto lender Celsius caused additional turbulence across cryptocurrency markets contributing further decreases in digital asset values held by WisdomTree. Redemptions and withdrawals from these funds totaled only $4 million throughout this period resulting in a year over year decrease greater than 62%.

SEC Approval

Despite this significant depreciation, WisdomTree did receive approval from the Securities Exchange Commission (SEC) in December 2020 allowing them to add nine blockchain-enabled ETFs on their platform – diversifying their exposure within digital asset markets through established financial mechanisms. However, efforts made by WisdomTree towards creating a Bitcoin spot exchange-traded fund were denied repeatedly by regulators .

Positive Outlook

Despite recent downturns Payments giant Visa remains optimistic about potential growth within the cryptos sector with CEO Alfred Kelly Jr mentioning that there is “a lot more upside here than downside” for institutional investors looking towards digital assets for diversification purposes outside traditional markets like stocks or bonds..

Conclusion

Overall it can be seen that while there has been significant depreciation within WisdomTree’s crypto holdings due to an extended bear market – significant positives have emerged such as SEC approval for new blockchain ETF products and positive outlook from Visa which may suggest that brighter days are ahead for those investing heavily within digital asset space

• The U.S Federal Reserve has rejected Custodia Bank’s membership application due to safety and soundness risks associated with their crypto-asset operations.
• Custodia CEO, Caitlin Long, expressed surprise and disappointment at the Board’s action.
• The bank had been waiting 18 months for the Federal Reserve Board’s response to its application to become a member.

The U.S Federal Reserve Board has rejected Custodia Bank’s application for membership in the Federal Reserve System due to safety and soundness risks associated with their crypto-asset operations. Custodia, formerly known as Avanti Bank, had submitted their original paperwork in October 2022, and had been waiting almost 18 months for a response.

Custodia CEO, Caitlin Long, expressed surprise and disappointment at the Board’s action. The Federal Reserve advised Custodia 72 hours ago that it could either withdraw its membership application or see it denied, and the Fed denied it in record time. Moreover, Custodia pursued federal regulation vigorously, exceeding all rules applicable to conventional banks.

The Federal Reserve Board stated that Custodia’s „novel business model and proposed focus on crypto-assets presented significant safety and soundness risks“ and that the bank’s risk management system was inadequate. Consequently, the Fed was unable to approve the bank’s application due to the elevated risks associated with its anticipated crypto operations, such as the company’s capacity to minimize money laundering and terrorist financing issues.

The rejection of Custodia’s application means that the bank in Wyoming has not yet received a master account, which would allow it to settle transactions with other lenders using the Federal Reserve payments system. This could have large implications for Custodia’s ability to facilitate payments and access liquidity.

Custodia’s experience is a stark reminder of the difficulties that cryptocurrencies and crypto-related businesses can face when attempting to gain regulatory approval. The Federal Reserve Board’s decision highlights the need for crypto-related companies to ensure that their risk management systems are comprehensive and up to date.

• The global market cap is now $1.05 trillion, up 0.80% in the last 24 hours.
• The top trending coins of the day are Dogecoin (DOGE), Avalanche (AVAX), Terra Classic (LUNC), and Polygon (MATIC).
• DOGE and AVAX are currently trading at $0.08983 and $20.37 respectively, and have seen an increase of 4.97% and 13.01% in the last 24 hours respectively.

The cryptocurrency market has seen a major downturn in the last year, with the global market cap falling below one trillion dollars. However, with new projects and updates in the blockchain sector, the market has recently seen a major uptrend, with the global market cap now reaching $1.05 trillion, up 0.80% in the last 24 hours. These positive changes in the market have allowed for some coins to start performing well, with the top trending coins of the day being Dogecoin (DOGE), Avalanche (AVAX), Terra Classic (LUNC), and Polygon (MATIC).

Dogecoin (DOGE) is a meme coin that has seen a resurgence in its popularity, with the coin currently trading at $0.08983, and having seen an increase of 4.97% in the last 24 hours. There are 132 billion Dogecoins in circulation, with a market cap of $11 billion and a 24h trading volume of $641.84 million. Dogecoin has experienced a 54.27% increase in the last 24 hours.

Avalanche (AVAX) is a blockchain project that utilizes smart contracts like Ethereum and ensures near-instant transaction completion. AVAX is ranked 14 with a price of $20.37 and an increase of 13.01% at the time of writing. With a market cap of $6 billion and a 24h trading volume of $875.50 million, there are 314 million AVAX in circulation.

Terra Classic (LUNC) is a proof-of-stake blockchain protocol that utilizes a hybrid consensus algorithm to ensure scalability and security. It is currently trading at $2.87, with a 24-hour trading volume of $3.09 million. There are 6.3 billion LUNC in circulation, with a market cap of $18 million.

Lastly, Polygon (MATIC) is a Layer 2 scaling solution that enables Ethereum-compatible applications to scale and operate faster. MATIC is currently trading at $1.44, with a 24-hour trading volume of $2.19 billion. There are 12.9 million MATIC in circulation, with a market cap of $18.6 billion.

Overall, the cryptocurrency market has seen a major uptrend in the last few days, with the global market cap now reaching $1.05 trillion, up 0.80% in the last 24 hours. This has allowed for some coins to start performing well, with the top trending coins of the day being Dogecoin (DOGE), Avalanche (AVAX), Terra Classic (LUNC), and Polygon (MATIC). All four of these coins have seen an increase in their prices, with Dogecoin and Avalanche seeing the highest percentage increase in the last 24 hours. As the market continues to grow, we can look forward to more coins performing well in the future.