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ANN HU FILM, CONFETTI, LAUNCHES NFT COLLECTION AND INTERNATIONAL CAMPAIGN TO SPARK SOLIDARITY FOR DYSLEXIC POPULATION

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The independent film, CONFETTI, which has crossed over and garnered mainstream popularity—based on its story of courage, compassion, and the unique challenges and gifts of individuals with dyslexia—is coming to the blockchain. Following a successful US release embraced by critics and a 92% audience rating on Rotten Tomatoes, CONFETTI will have its exclusive red carpet BAFTA premiere, where writer and director, Ann Hu, will launch a first-of-its-kind NFT art collection to mobilize awareness around dyslexia and neurodivergent perspectives. During this gathering, Hu will offer free NFTs to the audience to kick-off the project’s international dyslexia awareness campaign.

The special event taking place on October 20th at London’s Princess Ann Theater at 1:30pm GMT will be a star-studded occasion with confirmed celebrity guests, including Her Royal Highness Princess Beatrice, Her Majesty Queen Diambi Kabatusuila, His Highness Sheikh Hamad, and many more.

Based on Hu’s own story with her daughter, CONFETTI chronicles the journey of a young mother, who travels with her 9-year-old daughter from their small town in China to New York City in search of a proper education for the girl. Along the way, they are tested and often discouraged, but their belief in themselves and their faith in humanity forges a path to solutions in the end.

The CONFETTI NFT collection, a series of 2022 digital art pieces, depicts the main characters of the film. Launching at the October 20th BAFTA event, the collection will start with 200 free mint opportunities, and a 20 piece BAFTA limited edition will also be available for purchase on the same day. Following the event, the public mint of the NFT collection will begin, including a charity auction of 2 unique pieces that are 1/1s  from the collection.

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NFT holders will join an international community providing resources and education for people with dyslexia worldwide. The majority of proceeds from NFT sales will go to organizations, such as the British Dyslexia Association, supporting dyslexic individuals globally. As the project evolves, Hu’s vision is to make NFT art created by dyslexic artists available and to produce a dyslexia-focused identity movement.

CONFETTI, both the film and the NFT project, serve as the genesis of a dialogue about the need for a global identity for people with learning differences,” says Hu. “This project will be the first feature film to spawn a Web3 community solely dedicated to the cause of equity and visibility for neurodivergent people.”

As a creative offering, the NFT will catalyze change and maintain a compassionate digital space that honors the director’s daughter and the millions of kids and adults like her who see the world through the lens of dyslexia.

To purchase a CONFETTI NFT, visit the CONFETTI NFT site here. Sign up for the community list in Discord here. Follow the project on Twitter at @Confetti_NFT. To join the Confetti World Foundation Linkedin group, go here.

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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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