Bitcoin Ordinals Make Their Way to Binance: Nifty Newsletter, 3-9 May
In this week’s newsletter, you can learn about new technologies that are creating new ethics for humanity. Read about nonfungible token (NFT) marketplace Binance NFTs adding support for Bitcoin Ordinals to its platform, and check out why Kenyan lawmakers are considering a tax on crypto and NFT transfers. In other news, former OpenSea manager Nathaniel Chastain was found guilty of insider trading in a New York federal court, and don’t forget this week’s Nifty News, with the Pudgy Penguins signing a deal with a major Hollywood agency.
Emerging Technologies to Create “New Ethics” for Humanity: MEWS 2023
At the Metaverse Entertainment Worlds conference in Monaco, legal expert and mathematics Ph.D. owner Stephen Castell discussed with Cointelegraph how technologies such as blockchain and artificial technologies are transforming ethics and the banking sector.
Castell emphasized the importance of trust in the emerging technology industry and how it connects to the recent banking crisis in the United States. He noted that trust was a fundamental concept for a bank at its inception.
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Bitcoin Ordinals hit Binance NFT Marketplace in latest update
Bitcoin Ordinals, also informally called Bitcoin NFTs, will be supported on the Binance NFT Marketplace later in May, according to an announcement from the crypto exchange.
Users will be able to buy and trade Bitcoin tokens from existing Binance accounts, with the update including royalty support and monetization opportunities for creators.
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Kenya considers tax on crypto, NFT transfers and online influencers
Kenyan lawmakers are considering introducing a 3% tax on crypto and NFT transfers. A recently introduced bill in the Kenyan Parliament aims to enact a digital wealth tax on income from the transfer of digital assets, including NFTs.
The proposed tax would require exchanges or those initiating crypto or NFT transfers to collect and submit the tax to the authorities. In addition to crypto and NFTs, the new tax regime also aims to tax monetized online content.
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The jury sentences the former OpenSea boss in the NFT case about insider trading
Former OpenSea employee Nathaniel Chastain has been found guilty of wire fraud and money laundering in a federal court in New York. The former OpenSea employee was accused of insider trading after buying NFTs selected to be displayed on the market.
The defense attorney argued that Chastain was not guilty because he was not informed that the information he received was confidential. However, prosecutors countered that the former OpenSea employee knowingly broke the law and used anonymous accounts to hide the trades.
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Nifty News: Pudgy Penguins Sign With WME, Bitblox To Make Web3 Gambling Games And More
NFT collective Pudgy Penguins signed a deal with Hollywood talent agency William Morris Endeavor (WME). The popular NFT project aims to spread its intellectual property rights through TV, film and games. Meanwhile, startup Cryptoys revealed the launch of Star Wars NFT collectibles, which will be hosted on the Flow blockchain.
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Thank you for reading this summary of the week’s most notable developments in the NFT space. Check back next Wednesday for more reports and insights into this area of active development.
