Chinese city public servants to receive digital RMB salaries from May

SEC wins $2.8M in suit over alleged crypto token price manipulation

Bank of Korea given right to investigate local crypto firms: Report

US Treasury seeks to tighten nonbank rules following banking crisis

LUNA is not a security, South Korean court rules in Terra co-founder’s case

OpenAI’s CTO says government regulators should be ‘very involved’ in regulating AI

German regulators launch inquiry into ChatGPT GDPR compliance

District 9 director’s shooter, Decentraland red-light district battle: Web3 Gamer

Crypto is dead in America’: Tech billionaire Chamath Palihapitiya

Terraform Labs co-founder and nine others indicted in South Korea

Ex-CFO that stole $5M to trade crypto and ‘meme stocks’ gets 3 years prison

Beaxy exchange shutters after SEC presses multiple charges against founder, execs.

Net losses from crypto theft down sharply in Q1 2023 at $322M.

Terra co-founder Daniel Shin’s arrest denied by court, citing low flight risk.

Polls suggest Elizabeth Warren’s anti-crypto army strategy may not pay off.

INX security token platform gets its first token from a public company, Greenbriar.

Paxful co-founders’ litigation cites misappropriation of funds, money laundering, U.S. sanctions evasion.

Europe’s digital ID wallet — Easy for users or a data privacy nightmare?

Binance under regulatory fire in Australia and Dubai, CZ resigns Irish directorships.

State regulators sound alarm on investment platform using AI to mislead US investors.

Seized exchange Bitzlato allows users to withdraw 50% of Bitcoin

CFTC calls ETH a commodity in Binance suit, highlighting the complexity of classification

Crypto-friendly banks mismanaged traditional risks, FDIC head tells Senate hearing.

Hong Kong turns to Japan for advice after ‘mind-boggling’ Web3 influx.

Anti-TikTok RESTRICT Act could be turned against crypto and much else, think tank warns.

Sam Bankman-Fried is paying for legal defense using previously gifted funds from Alameda.

Binance Bitcoin balance drops by 3.4K BTC within 24 hours of CFTC lawsuit

TUSD Stablecoin Daily Trading Volume Surpasses $1B After Binance Boost

Arbitrum’s First Governance Proposal Turns Messy With $1B ARB Tokens at Stake

IRS calls for public feedback on taxing NFTs as collectibles

SVB’s UK arm issues 15M pounds in bonuses after symbolic bailout.

Binance launches internal investigation following KYC bypass rumors

Peter Schiff blames ‘too much gov’t regulation’ for worsening financial crisis

Coinbase submits petition to SEC explaining that staking is not securities

US lawmaker suggests Signature’s collapse was tied to instability of crypto

Crypto acted as safe haven amid SVB and Signature bank run: Cathie Wood

*Silicon Valley Bank’s UK branch shut down by Bank of England

*South Dakota gov vetoes bill excluding crypto from definition of ‘money’

*USDC depegs as Circle confirms $3.3B stuck with Silicon Valley Bank

*​​Stablecoins and Ether are ‘going to be commodities,’ reaffirms CFTC chair

*Crypto funding shifts from CeFi to DeFi after major collapses: Finance Redefined

*US senators write to banking regulators about potential crypto discrimination

*Nigerian president-elect aims to use blockchain technology in the banking sector

*US Fed to create new crypto team amid concerns about unregulated stablecoins

*Biden budget proposes 30% tax on crypto mining electricity usage

*German regulator BaFin suggests a ‘case-by-case’ approach for NFTs

*Euler Finance hacked for ~200m USD in a widespread hack.

U.S. lawmakers argue SEC accounting policy places crypto customers at risk

Binance USD market cap falls below $10B amid rising regulatory concerns

SEC chair implies crypto exchanges may be ‘qualified custodians’ as new rule is drafted

UAE free zone to explore Bitcoin payments for services, lawyer says

Solana faces ‘lack of appetite’ from US regulators, says Austin Federa

US legislators renew call for EPA investigation of crypto mining emissions data

India explores offline functionality of CBDCs — RBI executive director

The crypto industry has ‘already started’ moving outside US, says Ripple CEO

Binance recommends P2P as Ukraine suspends hryvnia use on crypto exchanges

Internal documents reveal Australia’s potential timeline for crypto legislation

Today we will share our thoughts and answer a few questions on Avalanche Warp Messaging (AWM).

Avalanche Warp Messaging is a generalised messaging protocol developed by Ava Labs for bridge free communication between Subnets. What are Subnets you ask ?

Avalanche Subnets

Well Subnets are Avalanche’s solution to the scaling problem of blockchains, instead of forcing any transaction on a single shared state developers can spin up their own application specific blockchains. Subnets are short for subnetworks which means a dynamic subset of Avalanche validators that have their own consensus. Avalanche validators don’t automatically run blockchains for any Subnet. Instead, Subnets need to incentivise Avalanche validators separately for their support. Subnet validators will stake and be rewarded in a Subnet’s native token. Once an Avalanche validator creates a Subnet, the Subnet can create rulesets for their validators and launch their own blockchains with customized virtual machines.

Avalanche Warp Messaging

AWM was released in the latest Banff 5 upgrade of Avalanche end of the last year. Up until now, subnets needed to build and manage their own bridging solutions in order to communicate with and transfer assets between other subnets, but AWM changes that completely. AWM allows for native communication between any 2 blockchains on different Subnets and makes subnets interoperable.

How does it work ?

Here is a small technical primer on Avalanche Warp Messaging. AWM leverages BLS signatures that allows any two subnets to send and verify arbitrary messages between themselves, providing a seamless and trust minimised communication standard across the Avalanche ecosystem of subnets.

Because all Subnet Validators must validate the Primary Network the P-Chain, they can access the stake weights and registered BLS public keys of any other Subnet at any time. AWM also allows message passing to be quick since subnets simply need to aggregate the BLS Signatures, send the message, and verify the signatures.

Use Cases

1. Cross- chain composability.
2. Secure asset transfer between subnets.
3. Cross chain yield generating strategies in DeFi.

End Note

AWM is an important step forward to enable interoperable subnets and thus creating a seamless subnet powered world.

*The Financial Stability Board (FSB), the International Monetary Fund (IMF), and the Bank for International Settlements (BIS) will deliver papers and recommendations establishing standards for a global crypto regulatory framework says the group of the 20.

*FTX Japan allows total withdrawal of funds; users rejoice the ‘escape’

*U.S. Treasury Janet Yellen calls for ‘strong regulatory framework’ for crypto activities

*Colombia’s legal system experiments in the metaverse.

*The Central Bank of Jordan is closer to its next step toward a retail central bank digital currency (rCBDC) with the completion of an International Monetary Fund technical report on the country’s markets.

*Yield platform Stablegains sued for promoting UST: Finance Redefined.

*The European Commission (EC) has launched a blockchain regulatory sandbox aiming to offer legal certainty for innovative blockchain solutions.

*India explores cross-border payment functionality with Singapore

* CORE Introducing Cross-Chain Transaction Signing, exclusively in Core! Transact easily across multiple networks! Say goodbye to manual network switching.

*Platypus on Avalanche C-chain Blockchain have successfully recovered the 2.4 million USDC from the attacked contract.

*You can now read or listen to the Complete Guide to avalanche Avax here.

*Indonesia’s central banking regulator Bank Indonesia has announced the start of a consultation process for its central bank digital currency (CBDC) initiative known as Project Garuda.

*Vitalik Buterin, the co-founder of Ethereum, in a recent podcast, revealed that he didn’t expect non-fungible tokens (NFTs) to be as successful as it is at the moment.

*Venom Foundation and DAO Maker are joining forces to incubate promising web3 projects focused on delivering solutions for real-world problems

*As Turkey and Syria recovers from the devastating earthquake, crypto firms and individuals, including Optimism, Connext, Binance, and Vitalik Buterin of Ethereum continue to offer support

*Consumer Federation of California reattempts to regulate crypto companies

*BTC block reward miner Hut 8 (NASDAQ: HUT) is merging with US Bitcoin Corp. (USBTC) to form Hut 8 Corp., or New Hut, the two companies have announced.

*United States Securities and Exchange Commission (SEC) Commissioner Hester Peirce has publicly rebuked her own agency over the shutdown of crypto exchange Kraken’s crypto staking program in the United States

*The CEO and co-founder of cryptocurrency exchange Coinbase, Brian Armstrong, believes banning retail crypto staking in the United States would result in even more businesses moving offshore.

*Avalanche price analysis in positive momentum is currently in motion : AVAX gains nominal value as price touches $18

*The Avalanche Foundation has donated $1M in AVAX to the disaster relief efforts, for the earthquake that has affected Turkey and Syria. Encouraging others to join the effort.

• $JOE will be launched as an omni chain fungible token (OFT). This evolution of $JOE will unlock seamless connectivity for the $JOE token across all chains supported by the Trader Joe DEX

*American venture capitalist Tim Draper has urged India’s government to hasten their adoption of blockchain technology to increase administrative efficiency and foster transparency.

*Hong Kong Monetary Authority skeptical against algorithmic stable coins

* the Philippine Economic Zone Authority (PEZA) confirmed the spike in the number of investments in January, an 83.69% increase from the figures of January 26

*Dungeons & Dragons reverse decision on NFT ban following community uproar.

*Kazakhstan’s Senate proposes revisions to digital asset mining bill

*Marathon Digital Holdings Inc. (NASDAQ: MARA) is set to open a new block reward mining facility in Abu Dhabi worth over $400 million.

*BTC miner Hut 8 sues power supplier for breach of power purchase contract