Dear PointPay family,

It's time for a new weekly update! This week has brought us a lot of new and exciting developments. As well, on Thursday, we had the traditional Ask Me Anything (AMA) session with PointPay CEO Vladimir Kardapoltsev, where there were many announcements and news! Don't forget to check it out!

But before we move on, let's announce the winner of the Bug&Suggestions competition this week:

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Congratulations on this victory! The reward of 7,500 PXP will be credited within the next few working days! We encourage everyone else to participate in the new round of Bug&Suggestions competitions: simply send us your ideas for PointPay's development or any bugs/issues you have found on the platform through the dedicated form. The winner will be announced in the next Weekly Update and will receive 7,500 PXP!

What's more - the Marketing suggestions competition is still running! Share your ideas for PointPay's marketing campaign using the dedicated form and stand a chance to win 5,000 PXP!

And now, on to the PointPay news!

First and foremost, we want to remind you that the Trading competitions now have a different format, and the current competitions are available on the Trading Competitions tab, accessible through the website or smartphone.

This week, the main competition has been the meme coin DOGE! It will continue until Monday, July 31st, so don't miss the chance to participate!

Additionally, today, on Friday, July 28th, an extra competition featuring a new token on the platform will become available! Read further for more details!

A long-awaited update has been the implementation of KYC verification on the PointPay website. Previously, this procedure could only be completed using the PointPay application, which caused some difficulties, especially when the iOS app launch was delayed by Apple, effectively depriving users of the ability to undergo the process.

Now, the KYC procedure can be done on the PointPay website using a PC or mobile device browser. As before, you will need to provide specific data and await KYC confirmation, which typically takes less than 24 hours. If you encounter any issues, our support team is always ready to assist you!

Moving on, this week, the list of cryptocurrencies on PointPay has been expanded to include the rapidly gaining popularity Worldcoin! This cryptocurrency comes from the creator of ChatGPT, and it has finally seen the light of day. The main feature of the project behind this cryptocurrency is its aim to connect people from all over the world using World ID - a unique number based on the scan of the iris of each individual.

Currently, the project has gathered over 2 million participants, and iris scanning can be done in 34 countries.

Worldcoin is now fully available on PointPay for purchasing, selling, and trading. To celebrate its arrival on the platform, we are launching Trading competitions featuring pairs with this cryptocurrency.

In the world of cryptocurrencies, there has also been significant news! In the USA, two laws were passed, laying the groundwork for a unified and clear regulation of the crypto sphere.

The first law is the "Blockchain Regulation Act," developed by Republican Congressman Tom Emmer and Democratic Congressman Darren Soto, aimed at outlining principles that eliminate obstacles and requirements for blockchain developers and service providers, such as miners, multi-signature service providers, and decentralized finance (DeFi) platforms.

The second law, "Financial Innovations and Technologies for the 21st Century Act," sets rules for cryptocurrency firms on when to register with either the Commodity Futures Trading Commission (CFTC) or the Securities and Exchange Commission (SEC).

Both laws seek to bring more clarity to the regulation of the crypto sphere and lay the foundation for further cryptocurrency regulation. According to officials from the House, these laws will also protect the rights of investors and consumers.

Thanks again for taking the time to read this update. We look forward to seeing you next week!

Happy trading!


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