It's time for our beloved Weekly Update as the week draws to a close. Get ready to delve into the latest news, exciting events, and the champions of our competitions!
Let's kick off with the eagerly anticipated winner announcements:
- In the Trading competition, the victor is 23910322990, earning a well-deserved reward of 5,000 PXP!
- Meanwhile, in the Bug & Suggestions competition, 16246388568 emerges victorious, seizing a prize of 7,500 PXP!
A hearty congratulations to our esteemed winners! Your rewards will be promptly credited within the next few working days. But wait, the excitement doesn't end there! Our new competition round is already here, you can trade on the PointPay exchange with any pairs or submit your brilliant ideas and valuable bug discoveries to win PXP tokens.
Now, let's dive into the captivating events that unfolded at PointPay this week. First and foremost, we witnessed the astounding 25th round of the PXP token burn, obliterating a remarkable 3,200,000 PXP! This astonishing figure sets a new record for PointPay, and you can find all the mesmerizing details of this burn in our dedicated article.
Next up, we hosted our traditional Ask Me Anything (AMA) session with the PointPay CEO, Vladimir Kardapoltsev. The session, held on June 29th, was an enthralling affair, brimming with discussions on market trends, exciting announcements, and captivating revelations. In case you missed the live broadcast, fret not! You can catch the recording of this AMA session on our YouTube channel, where a wealth of knowledge awaits.
But that's not all! Our tireless team at PointPay remains committed to enhancing and perfecting our platform. We are diligently ironing out bugs and making necessary improvements to the current version. Furthermore, we are sparing no effort in expediting the release of our iOS application. However, we have encountered an unforeseen delay due to inexplicable moderation issues with the App Store. Rest assured, we are actively engaging in negotiations, and we anticipate a swift resolution to this matter.
Exciting times lie ahead as we continue to forge ahead on multiple fronts. Our upcoming endeavors include the introduction of Margin trading, the addition of new coins to our platform, and the launch of enticing events on our innovative Launchpad. Stay tuned, as these developments will soon unfold before your eyes. Find all the intriguing details within the captivating AMA session recording.
Lastly, we cannot overlook the momentous occasion that unfolded this week, as the United Kingdom took a significant stride towards becoming a crypto-friendly nation:
June 29th, a momentous event unfolded as King Charles of England bestowed his royal seal upon a groundbreaking bill, endowing regulatory bodies with the authority to oversee the realm of digital currencies and stablecoins. This auspicious act marks the formal transformation of the project into an all-encompassing law. It is worth noting that the upper echelons of the Parliament had previously bestowed their approval upon the corresponding legal provisions during the bygone week.
In a statement of great significance, Andrew Griffith, the Minister of Financial Services in the United Kingdom, articulated, "This pivotal legislation empowers regulators to exercise effective control over digital assets, ensuring their secure integration within the fabric of our nation."
Having taken shape during the preceding summer, the bill grants regulators an expanded realm of influence over the financial ecosystem, encompassing the vast realm of cryptocurrencies. While undergoing deliberations within the hallowed halls of the local parliament, additional amendments were incorporated, signifying the inclusion of stablecoins within the regulatory purview.
In the foreseeable future, the exalted trio comprising the UK Treasury, the Financial Conduct Authority, and the Bank of England shall wield their conferred powers to introduce and enforce comprehensive regulatory measures within the cryptocurrency sector. In pursuit of the government's visionary strategy to foster the complete metamorphosis of the nation into a distinguished hub of digital finance, the UK Treasury is presently engaged in extensive consultations to chart the course ahead.
Thanks again for taking the time to read this update. We look forward to seeing you next week!
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