The world of cryptocurrency has seen many new advancements this week, including Roqqu entering the South African market, the Texas House of Representatives passing the Proof of Reserve Act, and an AI-generated interview with the family of Michael Schumacher causing uproar. Read on for more details.
Roqqu’s Expansion to South Africa
Nigeria-based crypto-exchange Roqqu has been given regulatory approval to operate in South Africa. This gives users access to purchasing digital currencies and withdrawing South African rand. Looking to widen its scope in the African market, Roqqu has ambitious plans to become the go-to platform for five million customers by 2023. The company also has plans for regional expansion in Ghana, Uganda, Kenya, and Tanzania.
Texas Proof of Reserve Bill Passes
The Texas House of Representatives has ratified the Proof of Reserve bill, which requires crypto-exchanges to have sufficient reserves to meet all customer obligations. This law will become effective on September 1, 2023. Digital asset providers with 500 or more customers and assets of over $10 million will be prohibited from combining customer funds with operational capital or using them for any transaction apart from the one requested by the customer.
CoreWeave Secures $221 Million in Series B Funding Round
Cloud provider CoreWeave has announced it secured $221 million in a Series B funding round led by Magnetar Capital. Other contributors include Nvidia, RAM, and more. CoreWeave intends to use the funds to expand its cloud infrastructure for applications such as AI, ML, virtual effects rendering, batch processing, and pixel streaming.
Schumacher’s Family AI Interview Sparks Outcry
German magazine Die Aktuelle published an interview with former Formula One driver Michael Schumacher, which was actually created by AI. The quotes were only revealed at the end of the article. Schumacher’s family has taken legal action against the magazine for the act.
TransUnion to Provide Credit Scoring to Public Blockchain Networks
One of the three biggest credit reporting agencies in the US, TransUnion, has declared that it will offer credit scoring to public blockchain networks. Consumers will get access to complete credit information and DApps will obtain excerpts with the consent of the customer.
Crypto remains in the news with these and other developments. For more info on the blockchain and cryptocurrency world, visit cryptotvplus.com and follow us on social media. Don’t forget to subscribe to our YouTube channel and switch on notifications.