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Coinbase has obtained the Virtual Assets Service Provider (VASP) approval from the French regulator Autorité des Marchés Financiers (AMF). This approval enables Coinbase to offer cryptocurrency custody and trading services to both retail and institutional investors in compliance with French financial regulations and European Union laws. The company sees this as a significant milestone in its efforts to expand services across Europe. This announcement comes alongside Circle, another stablecoin issuer, also securing regulatory approval in France. (Source: Cryptopolitan)

A set of rules governing inter-exchange deposits and withdrawals is set to take effect in Hong Kong on New Year's Eve, creating hurdles for local crypto users. Hashkey Pro, a Hong Kong-based cryptocurrency exchange, outlined the new regulations, including expedited verification processes for clients with the same name account. However, clients will need to provide Know Your Customer (KYC) information and account screenshots for deposits and withdrawals from other exchanges. The Travel Rule applies only to third-party exchanges, not self-custody wallets. Non-compliance may result in reversed transactions and additional fees for users. (Source: Cointelegraph)

Argentina's minister of foreign affairs, international trade, and worship, Diana Mondino, announced that the recent "Bases for the Reconstruction of the Argentine Economy" decree, aimed at economic reform and deregulation, includes provisions allowing the settlement of contracts in Bitcoin and other cryptocurrencies. The decree, effective since December 20, permits debtors to choose payment in currencies not recognized as legal tender in Argentina. While not explicitly mentioning crypto, the decree opens the door for broader currency choices, including Bitcoin, marking a significant development for cryptocurrency adoption in the country. (Source: Cryptopolitan)

The Shanghai branch of the Bank of China has successfully conducted the first-ever settlement of precious metals using the digital yuan. Collaborating with the Shanghai Gold Exchange, the bank finalized a $14 million transaction, marking a significant milestone for the Chinese central bank digital currency (CBDC). The move emphasizes China's commitment to promoting the digital yuan and positions Shanghai as an international financial hub. (Source: Bitcoin.com)

El Salvador's Congress has approved a new migration law, championed as a "vital interest" by President Nayib Bukele, allowing foreigners to obtain expedited citizenship by donating Bitcoin to the country's development projects. The program, limited to 1,000 participants annually, offers citizenship to those making altruistic contributions without specifying a minimum donation. The initiative aims to attract foreign investors, requiring participants to invest $1 million in either Bitcoin or Tether, with the goal of injecting $1 billion into El Salvador's economy. (Source: Benzinga)

Elon Musk has revealed plans for X to launch in-app payment services by mid-2024 during a conversation with Cathie Wood of ARK Invest. Musk mentioned that the timeline is subject to approval for various money transmitter licenses, indicating the platform's expansion into payment services. However, the prospects of cryptocurrency integration into X's payment services remain uncertain. (Source: Cointelegraph)

The Federal Deposit Insurance Company (FDIC) has announced updated rules for bank signage and advertising, addressing both the cryptocurrency industry and potential misrepresentations in traditional banking. The new regulations aim to ensure clarity and transparency in promoting financial products and services, with specific considerations for the evolving landscape of cryptocurrency. The broader implications of these rules emphasize the need for accurate representation in advertising, impacting both the crypto and traditional banking sectors. (Source: Coingape)

The Bank of China's Shanghai Branch has successfully completed the first cross-border digital yuan transaction, settling a 100 million yuan trade. The transaction involved collaboration between the Bank of China Shanghai Branch, its RMB Trading Business Headquarters, and BOC Hong Kong. This achievement reflects the synergy between the local and Hong Kong branches, marking a significant milestone in the adoption of digital yuan in international transactions. The bank has also been actively involved in developing system support for foreign financial institutions in digital RMB projects. (Source: Coingape)

A U.S. appeals court has issued a mandate formalizing the forfeiture of 69,370 bitcoins and other cryptocurrencies linked to the defunct Silk Road dark web market. The judgment, originally made in August, became effective following the finalization of the mandate. Silk Road founder Ross Ulbricht, two claimants, and the U.S. government are listed as parties in the filing. The government had previously taken control of the crypto, handed over by "Individual X," who hacked into Silk Road and gained control of its funds. The seized crypto, valued at over $1 billion in 2020, has now been officially forfeited. (Source: Cointelegraph)

The European Union has introduced its twelfth package of restrictive measures against Russia, barring Russian nationals from owning or controlling cryptocurrency service providers. The move is part of the EU's efforts to combat the circumvention of existing prohibitions on providing crypto-related services. Additionally, the EU announced that diamonds entering its territory must now be traced using blockchain technology, ensuring transparency from "the mine to the finger." The new sanctions package aims to contribute to a just and lasting peace while acknowledging the impact of EU sanctions on the Russian economy. (Source: Bitcoin.com)

In a landmark decision, the UK Supreme Court has upheld lower court rulings that artificial intelligence (AI) entities cannot be recognized as inventors in patent applications. The case involved Dr. Stephen Thaler's AI, Dabus, which was denied inventor status by the court, emphasizing that inventors must be people. While bringing clarity to patent law, the decision leaves questions about AI creativity open for future debate. The ruling reinforces the long-standing principle that inventions must be attributed to individuals, maintaining the legal requirement that an inventor must be a person. (Source: Cryptopolitan.com)

Former FTX CEO Sam Bankman-Fried's request for a four to six-week postponement of his sentencing hearing has been denied by Judge Lewis Kaplan. Bankman-Fried's defense argued that more time is needed to gather evidence for the sentencing submission and prepare for the pre-sentencing interview scheduled for December 21. The judge dismissed the request, and Bankman-Fried's sentencing hearing remains set for March 28, 2024. Bankman-Fried was convicted on all counts related to fraud and other offenses at FTX and Alameda Research on November 2. (Source: Bitcoinist.com)