PolyMarket has been banned in Singapore for operating as an unlicensed gambling service provider. The Singapore authorities, specifically the Gambling Regulatory Authority (GRA), have blocked access to PolyMarket citing violations of the country’s stringent Gambling Control Act 2022.
Users attempting to access the platform are met with warnings that they could face penalties including fines up to SGD 10,000, imprisonment for up to six months, or both for engaging with unlicensed gambling services. This move is part of a broader crackdown on unlicensed online gambling in Singapore, where only state-run entities like Singapore Pools are authorized to provide online betting services.
Donald Trump’s administration is planning a significant overhaul of the SEC’s cryptocurrency policies. The incoming leadership, including Commissioners Hester Peirce and Mark Uyeda, is expected to review and potentially freeze pending enforcement cases that do not involve fraud. This shift marks a departure from the enforcement-heavy approach of the previous administration under Gary Gensler, which saw numerous actions against major crypto firms like Coinbase and Kraken.
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The new SEC leadership aims to clarify when digital assets fall under SEC jurisdiction and may ease accounting restrictions that have deterred public companies from offering crypto custody services. This regulatory reset aligns with Trump’s campaign promises to embrace digital assets and promote innovation in the crypto sector.
VanEck has filed for a new exchange-traded fund (ETF) called the “OnChain Economy” ETF. This ETF aims to invest in companies that are part of the digital asset ecosystem, rather than directly holding cryptocurrencies. The ETF will invest at least 80% of its net assets in “Digital Transformation Companies” and digital asset instruments.
These include companies involved in crypto exchanges, payment gateways, mining operations, and firms providing infrastructure services. The ETF plans to establish a subsidiary in the Cayman Islands to manage certain digital asset investments, with exposure capped at 25% of total assets each quarter.
ElizaOS has unveiled a groundbreaking AI-powered humanoid robot priced at $420,000. This next-generation personal robot, known as “Eliza,” is designed to redefine the capabilities of robotics and intelligent machines, Eliza is designed to build deep emotional connections with users, exhibiting empathy and lifelike expressions. The robot can perform a range of tasks, from managing personal schedules to handling complex operations like blockchain transactions.
Virtuals AI launchpad has announced a significant buyback and burn program worth over $20 million for AI agents launched on their platform. This initiative aims to reduce the supply of AI agent tokens, thereby increasing their value and promoting a healthier ecosystem. Virtuals Protocol plans to use over 13 million VIRTUAL tokens (worth approximately $48 million) to buy and burn AI agent tokens. This deflationary program is expected to boost the value of both VIRTUAL and its agent tokens. Some of the top AI agent tokens that will benefit from this program include GAME, CONVO, AIXBT, SEKOIA, and MISATO.
Reliance Jio Platforms has partnered with Polygon Labs to bring Web3 and blockchain solutions to over 450 million users in India. This collaboration aims to integrate advanced blockchain technology into Jio’s existing applications and services, enhancing the digital experience for its massive user base. The partnership will enable Jio to offer more secure, faster, and decentralized services, leveraging Polygon’s blockchain technology. Jio plans to integrate Web3 capabilities into its existing applications, providing users with enhanced privacy and control over their personal data.
