Latest Crypto News: RBI Now Part Of Telangana’s Web 3.0 Sandbox; Google Cloud, Coinbase In Strategic Partnership

Here are some of the major crypto happenings in the last few days
Latest Crypto News: RBI Now Part Of Telangana’s Web 3.0 Sandbox; Google Cloud, Coinbase In Strategic Partnership

Telangana's Principal Secretary, IT, Jayesh Ranjan has announced a partnership with the Reserve Bank of India (RBI) on Web 3.0 Regulatory Sandbox. He said this on November 5, 2022 at the Game Developer Conference.

According to the Telangana government, this sandbox will aim to promote and help various Web 3.0 start-ups to innovate in the fields of Blockchain, metaverse, non-fungible tokens (NFT), and others in the state.

The Telangana government had launched a ‘Web 3.0 Regulatory Sandbox’ in August 2022.

OpenSea Introduces On-Chain Tool To Enforce NFT Royalties

OpenSea, an NFT marketplace, appears to have weighed in on the issue of NFT royalties by introducing a new ‘on-chain’ tool to assist producers in enforcing royalties.

While other players in the market have been implementing their own tactics over the past few months, the NFT marketplace, which according to CoinGecko, controls 66 per cent of the market share in NFT marketplaces, has remained largely silent on the subject of royalties and enforcement.

UK Bank Santander Will Block Payments

UK bank Santander has said it will prohibit real-time payments to cryptocurrency exchanges starting 2023. The measure, which was originally revealed in an email to customers, aims to shield them from con artists, Reuters reported.

Santander is yet to specify as to when the modification will come into effect in 2023. The bank will implement a more constrained set of restrictions in the near future, it said.

It added that beginning November 15, payments made through mobile and online banking to cryptocurrency exchanges are restricted to a maximum of £1,000 per transaction, and £3,000 each rolling 30-day period.

The ability of clients to withdraw money will not be impacted by the new regulations, it added.

“In recent months, we have seen a large increase in UK customers becoming victims of cryptocurrency fraud,” said a Santander spokesperson.

Google Ties With Coinbase

Google Cloud and Coinbase have announced a new, long-term strategic partnership to better serve the growing Web 3.0 ecosystem and its developers.

According to a Google Cloud press statement, the collaboration will involve Coinbase selecting Google Cloud as a strategic cloud provider to build an advanced exchange and data services.

“Coinbase will use Google Cloud’s powerful platform to process Blockchain data at scale, and enhance the global reach of its crypto services by leveraging Google’s premium fibre-optic network,” the statement says.

Coinbase will also build its global data platform on Google Cloud’s secure infrastructure, and leverage its leading data and analytics technologies to provide Coinbase customers with machine learning-driven crypto insights.

“We want to make building in Web 3.0 faster and easier, and this partnership with Coinbase helps developers get one step closer to that goal,” says Thomas Kurian, CEO of Google Cloud.

Related Stories

No stories found.
Outlook Business & Money