Singapore mulls stringent crypto regulations, Meta allows posting NFTs on Facebook and Instagram



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Bet on future ether prices as soon as the Ethereum network’s move to proof-of-stake (PoS) is around the corner! But what else is happening in the cryptocurrency world? From Facebook and Instagram allowing their users to upload NFTs to their favorite social media platforms in Singapore, taking steps to prepare for new cryptocurrency regulations and more … Read on.
OpenSea, the largest non-fungible token market (NFT) has announced that it will only support NFTs that are on the updated Proof-of-Stake (PoS) blockchain after the merger.
To support NFTs on the updated Ethereum PoS chain, OpenSea has made it clear that if there are forked NFTs, they will not be reflected on the platform as it will only support the updated chain.

To ensure a seamless transition of Ethereum Merge, the NFT market also said its staff are preparing the NFT trading platform for any problems that may arise.
The merger event, one of Ethereum’s biggest updates to date, is expected to take place on September 15 or 16.
Launched in 2017, OpenSea, the first NFT market, has supported over 80 million NFTs and over $ 31 billion in total volume.

The Monetary Authority of Singapore (MAS) is reportedly planning to implement additional regulatory measures in the cryptocurrency market to provide investor protection.
The MAS can also strengthen its existing regulations by implementing client suitability assessments.
According to reports, the government is expected to approve consumer adequacy guidelines and impose restrictions on the use of credit and leverage by retail investors when trading digital assets.
Despite its ambition to become one of the world’s leading crypto hubs, Singapore said it will oversee the local digital asset ecosystem more closely than most other nations.
Facebook and Instagram users can now upload NFTs to their favorite social media platforms.
Social media giant Meta, the parent company of Facebook and Instagram, has also announced that it will allow users to add digital wallets to these popular platforms.
To post a digital collectible, all you need to do is link your crypto wallet to Instagram.
Instagram currently allows connections with third-party wallets such as Rainbow, MetaMask, Trust Wallet, and Coinbase Wallet, and currently supports blockchains such as Flow, Polygon and Ethereum.
This digital asset integration is extended to 100 countries and can be posted or shared on Instagram for free.
Residents of the province of Mendoza can now pay government taxes and fees with cryptocurrencies, thanks to widespread cryptocurrency adoption policies in Argentina.
This is just the latest in a long line of cryptocurrency-related adoptions across Argentina.
Citizens can use any cryptocurrency wallet, including Binance, Bybit and Ripio, to make payments through the portal on the ATM website.
Only stablecoins such as Tether (USDT) will be accepted at this time to pay taxes.
Upon receipt of the stablecoins, the ATM will convert the US-linked stablecoins into pesos for processing and provide payers with a receipt of the transaction.
Earlier this year, the country’s capital Buenos Aires unveiled its intention to start accepting public financial transactions in cryptocurrency.
Polygon co-founder Sandeep Nailwal raised $ 50 million for a new venture fund dedicated to Web 3.0 startups.
Nailwal’s venture capital firm, Symbolic Capital, is backed by cryptocurrency protocols, exchanges, cryptocurrency-focused auditing firms, and other venture capital investors.
Symbolic said it intends to focus on supporting startups building decentralized consumer-facing apps. The fund’s mission is to promote the mass adoption of blockchain technology and Web 3.0.

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Disclaimer: This article was written by Giottus Crypto Exchange as part of a paid partnership with The News Minute. Crypto products and NFTs are unregulated and can be highly risky. There can be no regulatory recourse for any losses resulting from such transactions. Please do your research before investing and seek independent legal / financial advice if unsure about investing.
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