Crypto on LYO: The Blend — Samsung to Launch Crypto Exchange in 2023, Australia’s Plans for Better Crypto Regulations Revealed, New Updates on the LYOWALLET App

What happened in the crypto world in the last week? Let’s see some interesting news together!

Samsung to Launch Crypto Exchange in 2023

Samsung Securities is one of the seven major South Korean brokerages that will establish cryptocurrency exchanges early next year. The entities have filed their application for preliminary approval and establishment of corporations to create cryptocurrency exchanges.

This move by the South Korean firms is in harmony with the promise of the country’s newly elected president Yoon Suk-Yeol to implement crypto-friendly policies and give way to new projects.

Australia’s Plans for Better Crypto Regulations Revealed

In a statement released by the Australian treasury, the agenda will start with their government’s form of market research called “token mapping.” Token mapping aims to unveil a crypto asset’s underlying code and other defining technological features.

This method will help the Australian government to “identify how crypto assets and related services should be regulated.”

According to Australia’s Treasurer Jim Chalmers:

“The previous government dabbled in crypto asset regulation but prematurely jumped straight to options without first understanding what was being regulated. The Albanese Government is taking a more serious approach to work out what is in the ecosystem and what risks need to be looked at first.”

Nike NFT Revenue Breaches $185M

Nike has positioned itself as the world’s highest-earning brand from NFTs with a total of over $185 million in revenue since its launch.

The iconic sports brand also leads the number of transactions with 67,000.

Other companies included in the top five brands in total NFT revenue are Dolce & Gabbana with $25,651,129, Tiffany with $12,622,377, Gucci with $11,557,154, and Adidas with $10,943,653.

New Updates on the LYOWALLET App

LYOWALLET, the non-custodial wallet of LYOPAY, has launched version 1.2.1 of its mobile app. The update includes added Chain Network selection when the wallet is connected through Wallet Connect and the ability to use LYOWALLET with PancakeSwap and UniSwap.

Moreover, eight new tokens have been added to the platform as well. These are USDC, KCS, NOW, VAI, ALICE, FRAX, APENFT, and TrueUSD.

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