Cryptocurrency continues to make headlines with exciting developments in the industry. This week, we have a roundup of the latest news, including Roqqu’s expansion to South Africa, Texas’ approval of the Proof of Reserve bill, and controversy surrounding an AI-generated interview with Schumacher’s family.
Roqqu’s Expansion to South Africa
Roqqu, a Nigerian cryptocurrency exchange, has received regulatory approval to operate in South Africa. This expansion allows users to purchase cryptocurrencies and withdraw funds using the South African rand. Roqqu has expressed its desire to expand its dominance in the African market and plans to reach five million users by 2023. The exchange is also eyeing regional expansion in Ghana, Uganda, Kenya, and Tanzania.
Texas Approves Proof of Reserve Bill
The Texas House of Representatives has passed the Proof of Reserve bill, requiring cryptocurrency exchanges to maintain reserves to fulfill all obligations to customers. This bill will go into effect on September 1, 2023. Digital asset providers that serve over 500 customers in the state and have at least $10 million of customer funds would be restricted from commingling customer funds with any other type of operational capital and using customer funds for any other transactions besides the original transaction demanded by the customer.
CoreWeave Raises $221 Million in Series B Funding Round
CoreWeave, a specialized cloud provider, announced that it raised $221 million in a series B funding round led by Magnetar Capital, with contributions from Nvidia, RAM, and others. The company plans to expand its cloud infrastructure for computational workloads such as artificial intelligence, machine learning, virtual effects rendering, batch processing, and pixel streaming.
Schumacher’s Family AI Generates Controversy
German magazine Die Aktuelle released an alleged interview with former Formula One driver Michael Schumacher, which was actually generated by AI. The article contained a series of off-alleged quotes that were revealed only at the end of the article. The family confirmed that they will be taking legal action against the magazine.
TransUnion to Supply Credit Scoring to Public Blockchain Networks
TransUnion, one of the three major credit reporting agencies in the US, announced that it would begin supplying credit scoring to public blockchain networks. Complete credit information will be delivered to the consumer and excerpts will go to decentralized applications (DApps) at the customer’s request.
With these exciting developments in the cryptocurrency industry, it’s essential to stay up-to-date on the latest news and market updates. For more information and news on blockchain and cryptocurrency, visit our website, cryptotvplus.com, and follow us on social media. Don’t forget to subscribe to our YouTube channel and turn on notifications.