News updates December 24, 2021

1. Big Four’ S Korean Crypto Exchanges Hired 600+ Employees in 2021 – And They’re Not Done Yet

South Korea’s biggest crypto exchanges appear to be on an expansion drive – and have hired 620 new staff members this year.

Per the media outlet The Fact, the “big four” crypto trading platforms in the nation – Upbit, Bithumb, Korbit and Coinone – have been growing their workforces in 2021. And pay rates at the firms are on the up, too.

Among the new hires are a number of former senior-level regulators, including ex-officials from the Financial Supervisory Service (FSS), a body with indirect control over the way crypto is policed in the country.

2. Exec Wants Meta to Look to NFT, DAO and Blockchain Expansion Next Year – Report

The man who will become Meta’s chief technology officer in 2022 reportedly wants the firm (formerly known as Facebook) to “target a deep compatibility with the blockchain” – and has talked up the possibility of exploring decentralized autonomous organizations (DAOs) and non-fungible token (NFT)-related business avenues.

Andrew Bosworth, already a leading Meta executive charged with leading the firm’s augmented and virtual-reality drives, is expected to take up his new position in the coming weeks, and will help the firm execute its much-vaunted metaverse pivot.

3. No Progress on Russian Crypto Law until February 2022 at the Earliest, Says Duma Chief

Those hoping to see crypto regulations roll out in Russia will need to wait until at least February next year to see what any draft legislation might look like, per a key parliamentarian.

the official website of the ruling United Russia Party, the vice-speaker of the State Duma, Russia’s parliament, Alexey Gordeyev, has been appointed as the head of a working group that will prepare proposals “on the legislative regulation of the circulation of cryptocurrencies in Russia.

4. Banking Giant KB Creates Crypto, NFT & CBDC-compatible Wallets

The South Korean banking giant Kookmin Bank (KB) says it has developed new multi-coin wallets that are capable of storing non-fungible tokens (NFT) and various tokens including central bank-issued coins.

5. Ethereum ETFs Struggle in Europe, but See Rising Volumes in Canada

Despite presumably being an interesting option for traditionally minded investors, trading volumes of European ethereum (ETH)-backed exchange-traded funds (ETFs) have struggled during the second half of this year. In Canada, on the other hand, the trend is moving in the opposite direction, indicating strong North American demand for ethereum ETFs.