Today's News updates December 05, 2021

1. *Bitmart Says It Lost USD 150M In a Hack, Suspends Withdrawals*
   One of the top 30 crypto exchanges, Bitmart, confirmed it has lost around USD 150m in a hack today, December 5, and has temporarily suspended withdrawals until further notice.

2. Cryptocurrency exchange Binance is working to build its U.K. business after the country’s regulator told it to halt operations earlier this year, the company’s chief executive officer told the Sunday Telegraph newspaper.

   Binance aims to become a registered crypto asset firm in the country in six to 18 months, CEO Changpeng Zhao told the newspaper. The move would allow the world’s biggest cryptocurrency exchange to offer a wider array of products if it can overcome British anti-money laundering standards that have stymied the industry.

3. Cryptocurrency industry Seized upon Singapore as an Unlikely Asian Alternative

   Banned by China, confronting a clampdown in South Korea and new limitations in Hong Kong, the digital currency industry has taken advantage of Singapore as an improbable Asian other option. The nation of 5.5m individuals has since quite a while ago depended on monetary administrations to assist with driving its $344bn economy, and it is currently securing a heightening race with Hong Kong and Tokyo for the crown of worldwide monetary center point in Asia.

4. The metaverse 'is already here' and will give cryptocurrencies the opportunity to make it better, a Solana co-founder says.
5. India’s television network NDTV says the government circulated a note on the proposed bill, which says private cryptocurrencies will be regulated and will not be recognized as legal currency in India. The legislation is also reported to describe cryptocurrencies as crypto assets that will be overseen by the country’s market watchdog, the Securities and Exchange Board of India.