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Digital Pratik’s JorrParivar presents India’s first NFT-ticketed IRL event – the ‘JorrDaar Event’

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In a remarkable move, popular content creator and personal branding practitioner Digital Pratik is bringing forth India’s first-ever NFT ticketed IRL event – JorrDaar Event – through his NFT project, JorrParivar. Encompassing a wide range of activities, Q&A sessions, in-depth panel discussions about Web3 tech and NFTs, and much more, this first-of-its-kind event will be held on 24th June 2022 at Club 07 in Ahmedabad, Gujarat.

JorrParivar by Digital Pratik is the country’s very-first community-driven NFT project consisting of 1254 tokens around 22 IPs with a primary focus on the practicalities of branding, marketing, and motivation – and is now presenting its own unique event exclusively for JorrParivar holders. This JorrDaar Event, in turn, marks itself as India’s first on-ground event for which real NFT tickets will be airdropped specifically in your wallet based on a snapshot of JorrParivar holders on Ethereum Blockchain. These NFT tickets will be redeemed on JorrParivar’s custom Web3 platform, which will generate code via blockchain. Their portal will then scan this at the event before letting in the attendees. What’s noteworthy is that the tickets to the event are not sold in INR or any fiat currency.

Breaking paths from the ordinary, JorrDaar intends to bring together like-minded people under one roof, thereby unlocking phenomenal networking opportunities in the Web3-crypto-NFT landscape and beyond. Apart from facilitating these meaningful interactions and conversations, the event also seeks to serve as a platform for NFT artists to showcase their art in the JorrDaar gallery to all JorrParivar holders. Furthermore, it will also see a Q&A session that will detail all about NFTs alongside 3-panel discussions. Each panel discussion will deep-dive into relevant subjects such as the Web3 World, the GenZ’s take on NFTs, and whether NFTs can be a way of branding and marketing. Panelists for these include notable personalities like Anshul Rustaggi, Vishakha Singh, Raj Shamani, Varun Mayya, Farheen, Ayush, Shashank, Pratik, Agastya Shah, Pritosh, Gurang, Reshi , Anshuman, and Abhinav, amongst several others.

While expressing his excitement about the event, Digital Pratik said, “It is no secret that NFTs have brought about a paradigm shift in art collecting and are the future. However, I believe that they will also revolutionize and take the marketing realm by storm by becoming another way of branding and marketing a business online. This event is our endeavour to club the power of community and our future and, in the process, break down and bring conversations around NFTs to the mainstream. I am looking forward to learning and growing with the JorrParivar family, alongside, of course, having lots of fun!”

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In addition to this, the JorrDaar Event will bring into its fold a bunch of special activities, surprise launches, exclusive merchandising, and perks for the JorrParivar NFT holders – making for fun as well as an insightful experience. At the same time, it also acts as yet another step by JorrParivar towards playing a significant role in ushering in Web3 and fostering crypto development at a lightning-fast pace in the country.

Blockchain

PayPal receives New York crypto trust charter

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The New York State Department of Financial Services (NYDFS) has granted PayPal Digital a limited purpose trust charter, a designation typically held by digital asset custodians and some stablecoin issuers.

Last August, PayPal launched its PYUSD stablecoin, marking the first stablecoin from a BigTech company. Paxos Trust Company, which also holds an NYDFS limited trust charter, currently issues the PYUSD stablecoin. Paxos has been PayPal’s partner for its cryptocurrency services since inception. Consequently, the new trust charter may signal PayPal’s intention to take over the custody of its clients’ crypto-assets and potentially move the issuance of PYUSD in-house.

Despite reaching out to PayPal for clarification on the purpose of the trust charter, no response was received before publication.

The PYUSD stablecoin is still in its early stages, with its recent integration for cross-border payments via PayPal’s Xoom app. The stablecoin’s market capitalization has grown to nearly $400 million, up from $190 million in early April. Notably, wallets associated with the issuer Paxos hold over $125 million, possibly on behalf of PayPal. The top five wallets constitute 71% of the stablecoin balance, with 17 wallets holding $1 million or more, accounting for 97% of the total holdings.

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The largest holders include Paxos, Crypto.com, Curve (DeFi), Defiance Capital, and Frax (DeFi). Among these, Crypto.com holds a balance of $103 million and Bullish holds $23 million.

Additionally, in November, the SEC’s enforcement division issued a subpoena requesting documents related to the issuance of the PYUSD stablecoin.

Source: ledgerinsights.com

The post PayPal receives New York crypto trust charter appeared first on HIPTHER Alerts.

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Hong Kong SFC to conduct compliance checks on crypto firms

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The Hong Kong Securities and Futures Commission (SFC) has announced that it will conduct on-site compliance checks on local virtual asset trading platforms (VATPs) that are still completing their regulatory applications following the June 1 licensing deadline.

In a notice issued on May 28, the SFC emphasized that all local crypto trading platforms must be either licensed or “deemed-to-be-licensed” by the regulatory body before the June 1 deadline. Operating an unlicensed VATP in Hong Kong after this date will be considered a criminal offense, and the SFC will actively pursue non-compliant companies.

In the coming months, the SFC will perform on-site inspections of deemed-to-be-licensed VATP applicants to evaluate their compliance with regulatory requirements. These inspections will focus on how firms safeguard client assets and implement Know Your Customer (KYC) processes.

The SFC urged investors to trade cryptocurrencies only on SFC-licensed platforms to ensure their protection. It also cautioned companies seeking licenses against actively marketing their services or onboarding new retail clients until they are formally licensed. Additionally, firms must prevent mainland Chinese residents from accessing their services, adhering to China’s ban on cryptocurrency trading.

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Earlier this month, it was reported that the number of crypto exchanges seeking operational licenses in Hong Kong had been decreasing. Eleven crypto companies and exchanges, including well-known platforms like OKX and Huobi’s local arm, withdrew their applications ahead of the deadline. Currently, only 18 applications remain pending approval.

In response to the upcoming licensing requirements, some crypto firms have proactively taken steps to ensure compliance. For example, Gate.HK, a crypto exchange, halted all activities related to acquiring new users and marketing, prevented existing users from making deposits, and began delisting tokens on May 23. The exchange plans to relaunch its services after restructuring its platform to comply with Hong Kong’s regulatory requirements.

According to the SFC, only two companies, OSL Digital Securities Limited and Hash Blockchain Limited, have been granted licenses to operate in Hong Kong so far.

Source: tradingview.com

The post Hong Kong SFC to conduct compliance checks on crypto firms appeared first on HIPTHER Alerts.

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Argentina crypto group plans to set up a blockchain valley in Buenos Aires

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The crypto community in Argentina is planning to establish a “blockchain valley” in Buenos Aires as part of the Crecimiento movement, which has a following of 500 individuals.

This group includes prominent figures in the country’s crypto ecosystem, such as Diego Guitérrez, co-founder of Bitcoin Layer 2 Rootstock; Marcelo Cavazzoli, CEO and co-founder of Lemon Cash, a leading crypto purchasing app in Latin America; and Elian Alvarez, a general partner at Ripio Ventures.

Significantly, Crecimiento’s core team has the support of advisors to Argentina’s new libertarian president, Javier Milei.

Crecimiento aims to create a hub for crypto and technology-oriented business founders in the capital, offering a comprehensive three-dimensional plan. This includes bringing 5 to 10 million people on-chain by offering exclusive items, boosting the number of tech-related startups, and providing necessary support.

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The group’s mission is to work with Argentina’s newly crypto-friendly government to bolster the cryptocurrency sector through initiatives like tax rebates, industry investment, and simplified regulations.

During his campaign, President Milei highlighted the benefits of Bitcoin, associating it with a sense of freedom, though no formal statements have been made on the subject. Nonetheless, the group has been actively collaborating with officials to establish their crypto center in Buenos Aires.

Maria Milagros Santamaria, a Web3 lawyer, noted that regulators are showing a high level of positivity toward their proposals and are requesting specific plans regarding the crypto sector to move forward. She mentioned that there are only a few individuals opposed to the initiative, and fortunately, their numbers are minimal.

Source: cryptonewsz.com

The post Argentina crypto group plans to set up a blockchain valley in Buenos Aires appeared first on HIPTHER Alerts.

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