UKISS Web3 round-up of the biggest headlines in cryptocurrency, NFTs, blockchain, and the metaverse.

Web3 round-up: Twitter is now $ETH-friendly, Singapore has no plans for NFT regulation

  • Twitter welcomes Ethereum addresses

  • Singapore currently has no plans to regulate NFTs

  • Binance.US under probe

  • Cardano doubles bug bounty rewards

You’re reading this week’s round-up of the hottest news in crypto, blockchain, and non-fungible tokens (NFTs). Let’s start!

Ethereum addresses on Twitter

Twitter users can now share Ethereum addresses to the world on the social media platform. The latest development marks the company’s further move towards being Ethereum-friendly after making NFT profile pictures possible not too long ago. 

Users who have wallets on the Ethereum blockchain can add an address as a payment option for Twitter’s tip jar feature, which also supports Paga, Paytm, and Barter by Flutterwave for users in Nigeria, India, and Ghana. 

No plans to regulate NFTs in Singapore

The rising popularity of non-fungible tokens has prompted a Singaporean parliamentarian to raise the topic among lawmakers this week. But regulation is not on the cards for now.

According to Tharman Shanmugaratnam, the minister in charge of the city-state’s central bank, the Monetary Authority of Singapore will consider the substance of the asset when assessing whether a product should come under regulatory remit. While NFTs can represent any underlying asset, they primarily represent art and collectables at the moment, he noted. 

Binance under probe

The U.S. arm of cryptocurrency exchange Binance is reportedly under probe by the Securities and Exchange Commission. The investigation focuses on the relationship between Binance CEO Changpeng Zhao and trading firms Merit Peak and Sigma Chain AG, according to Wall Street Journal. The commission has requested more information about both companies, the report added. 

Cardano doubles bug bounty rewards

The Cardano foundation overseeing the public blockchain platform is temporarily doubling rewards for its bug bounty program. The non-profit said it was increasing the rewards till Mar 25 in a bid to boost the network’s security. The most significant reward is $20,000 for critical vulnerabilities affecting Cardano nodes, according to its HackerOne page. 

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