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Japanese Powerhouses mixi and DAZN Partner to Create a Sports NFT Marketplace on Flow

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Media powerhouse mixi, Inc. and global sports streaming service DAZN Japan Investment GK announced that DAZN MOMENTS, a sports NFT marketplace, will launch on Flow, a leading Web3 platform designed for consumer-friendly applications. The announcement was made locally in Japan with Flow confirming the new marketplace will launch in the spring.

DAZN MOMENTS joins the thriving sports ecosystem on Flow, home to NBA Top Shot, NFL ALL DAY, UFC Strike, Crictos, and The Players’ Lounge, among others.

The DAZN MOMENTS marketplace will allow users to collect moments of super skills of players as well as memorable moments of various sports in Japan. DAZN MOMENTS will draw upon mixi’s success in entertainment and sports – including the social network mixi – as well as the mobile game Monster Strike, which has grossed more than $9 billion since its launch in 2013; and DAZN’s global lead in streaming live and on-demand sports events to more than 200 countries and territories.

“mixi is a true example of the best-in-class Japanese-based companies that are emerging on Flow,” said Mik Naayem, Chief Business Officer and Co-Founder of Dapper Labs. “mixi has led the charge on game-changing platforms, and DAZN has pioneered sports streaming around the globe. By giving fans an awesome experience and an easy way to get engaged, the launch of DAZN MOMENTS will be a true watershed moment for Web3 adoption in Japan.”

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“Bringing DAZN’s rich content to NFT moments on Flow will bring traditional memorabilia to life in the digital world in Japan,” said Koki Kimura, President and Representative Director of mixi. “Dapper Labs’ creativity in design and functionality has inspired us for DAZN MOMENTS and we hope to bring that same level of energy captured in the U.S. to Japan.”

“We’re excited to partner with mixi to unlock NFTs for various sports in Japan,” Manabu Yamada, Executive Vice President of DAZN Japan. “We unlocked live streaming sports five years ago, and we’re excited to bring that next-generation of innovation to how fans engage with their favorite moments through valuable NFTs.”

mixi and DAZN Japan have been working together since December 2020, bringing DAZN data into Fansta, mixi’s restaurant and bar search application. This gives fans an easy way to find places to watch their favorite sporting events. Coming in the Spring, Japanese fans will be able to collect moments from their favorite sporting events through the DAZN MOMENTS marketplace on Flow. mixi will donate a part of the profits to sports associations to support the continued development of sports in Japan.

Blockchain

Europe Tax Advisory Market Valuation Poised to Soar to USD 28.50 Billion By 2032 | Astute Analytica

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Brazil to Tighten Regulation on Foreign Crypto Exchanges

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Brazil’s Receita Federal Increases Scrutiny on Foreign Cryptocurrency Exchanges

Brazil’s tax authority, Receita Federal, plans to intensify its oversight of foreign cryptocurrency exchanges operating within the country. This move aims to enhance regulation and transparency amid the rising use of digital assets in Latin America’s largest economy.

New Reporting Requirements for International Platforms
Recent reports indicate that Receita Federal will soon issue an order requiring international cryptocurrency platforms, including Binance and Coinbase, to provide detailed operational data and information on their partnerships with local service providers.

Government’s Regulatory Focus
Andrea Chaves, Deputy Secretary of Inspection at the Federal Revenue Service, emphasized the importance of this measure. “It’s crucial for us to understand how they operate here and ensure there’s no illegality,” she stated. The government aims to ensure compliance with tax laws and confirm that services provided to Brazilian customers are fully legal.

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Wagner Lima, a risk management coordinator at Receita Federal, underscored the need to review collaborations between foreign exchanges and local service providers. This review ensures compliance with a 2019 regulation that mandates information sharing.

Rise in Crypto Asset Declarations
This decision comes in response to a significant increase in crypto asset declarations by Brazilians. From January to July 2023, Brazilians declared 133.6 billion reais ($24.6 billion) in crypto assets, marking a 36.6% increase from the previous year. Notably, 14.5 billion reais were declared through foreign exchanges, representing a 51.2% growth.

Upcoming Order Details
The forthcoming order will require exchanges to disclose their operational methods and customer service practices in Brazil. However, it will exclude customer-specific data and transactional information to comply with current Brazilian laws.

Future Regulatory Framework
Brazilian authorities are also working on developing a clear framework for digital currencies and their legal status, expected to be introduced by mid-2024. This framework aims to organize both local and foreign exchanges operating within Brazil, ensuring their compliance with local laws and regulatory requirements.

Source: cryptotimes.io

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The post Brazil to Tighten Regulation on Foreign Crypto Exchanges appeared first on HIPTHER Alerts.

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Financial Institution NAB Embraces Crypto Custody Solution

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National Australia Bank Invests in Crypto Custody Firm Zodia Custody

National Australia Bank (NAB), a prominent financial institution, has taken a significant step into the cryptocurrency custody arena. Instead of creating its own digital currency, NAB Ventures has opted to invest in Zodia Custody, a London-based firm specializing in the secure storage of digital assets for institutional clients.

Strategic Shift and Industry Alignment
This investment marks a strategic shift for NAB, aligning itself with global financial leaders like Standard Chartered, Northern Trust, and SBI Holdings, who have already acknowledged the importance of safeguarding digital assets for investors. By partnering with Zodia Custody, NAB showcases a forward-thinking approach, choosing collaboration over direct competition with established players like Coinbase.

Commitment to Innovation
The decision to invest in Zodia Custody reflects NAB’s commitment to providing cutting-edge solutions to its institutional clients while leveraging the potential of the crypto market. This move positions NAB as a key ally for institutional investors seeking secure and regulated infrastructure to navigate the complexities of digital asset storage and management.

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Additional Insights
One significant aspect not highlighted in the initial report is that NAB’s engagement with a crypto custody solution underscores the growing demand from institutional investors for secure and regulated infrastructure to enter the crypto space.

Key Questions
1. How will NAB’s partnership with Zodia Custody impact its overall financial services and competitive position in the market?
2. What regulatory challenges and compliance requirements does NAB face by entering the crypto custody space?
3. How does NAB plan to address security concerns related to the storage of digital assets for its institutional clients?
4. What are the potential risks and rewards for NAB as it ventures into the crypto custody sector?

Key Challenges
NAB may encounter several challenges, including regulatory compliance issues, cybersecurity risks, market volatility of crypto assets, competition from existing players in the space, and the need to build trust among institutional clients for their crypto custody services.

Advantages
1. Access to a Growing Market: Entry into the rapidly expanding crypto market and potential new revenue streams.
2. Strengthened Partnerships: Enhanced relationships with global leaders in the crypto custody sector.
3. Diversification: Broadening service offerings to meet the evolving needs of institutional clients.

Disadvantages
1. Regulatory Scrutiny: Increased regulatory oversight and compliance costs.
2. Market Volatility: Exposure to the highly volatile nature of crypto assets.
3. Reputation Risk: Potential damage to reputation if security breaches or operational issues occur in the custody of digital assets.

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Source: smartphonemagazine.nl

The post Financial Institution NAB Embraces Crypto Custody Solution appeared first on HIPTHER Alerts.

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