India introduced legislation into cryptocurrency with the Prevention of Money Laundering Act, of 2002. Big Eyes launches “Vault Pin” while Fantom and Solana soar over the month.
India has traditionally viewed cryptocurrency with suspicion. And now it has included cryptocurrency in its anti-money laundering regulations, making cryptocurrency exchanges, non-fungible tokens (NFT), and custody service wallet providers liable for keeping an eye on questionable financial activity.
Up until today, crypto companies were not required by law to carry out verification procedures like Know Your Customer (KYC). Since this is stated in the legislation, it is now required. This will create a huge barrier of entry for crypto-related industries to enter the world’s most populous country.
Big Eyes Gifting Spree Continues With Vault Pin
Big Eyes Coin is not a cryptocurrency for gaming. Yet it’s just as entertaining as the other two cryptos. Every day, more investors are becoming interested in this meme coin with a cat motif. This eco-friendly meme coin is dedicated to building community and saving oceans. Big Eyes declared it will donate money from its wallet to protect marine life despite not charging any taxes or other fees for its services. For this purpose, it will reserve 5% of its whole supply.
From its launch in late 2022, the presale of Big Eyes Coin has been altering meme coin history. Big Eyes has been releasing numerous deals to increase the presale, which also keeps the community interested. Big Eyes Coin presented five distinct treasure boxes for three distinct prices last month.
These loot boxes were created so that the investors would not suffer any losses. Big Eyes Coin also introduced a Savings Tin that cost $9.99 to lower the price of the treasure box. Yet, Big Eyes has a bigger idea this week. It unveiled the Excali-Paw Chest Giant Treasure Box, which costs $10,000 to open, however, if fortune strikes – you may turn into a millionaire.
And last week, the cat coin announced Vault Pins that offer “Loot Boxes”. Take a tour of the Big Eyes Website now and grab the loot boxes worth millions starting from $100. Use the vault pin “819” to win fantastic loot.
Fantom Adoption Rises Across the Industry
Fantom (FTM) aims to provide a quick, scalable, and secure infrastructure for decentralized apps (dApps) and smart contracts. Fantom (FTM) is a protocol that can be used for applications that need quick and effective processing because it supports high transaction volume and short confirmation times.
Fantom (FTM) has already experienced tremendous growth in its user base and collaborations in terms of adoption. Fantom (FTM) has collaborated with several organizations, including the Afghan government to assist with supply chain tracking and the University of Sydney to provide blockchain-based energy trading solutions.
Solana Steps into Generative NFTS
Launched in March 2020, Solana (SOL) is a third-generation blockchain project. The goal of creating Solana (SOL) was to develop the fastest blockchain possible.
Solana (SOL) uses a specific consensus mechanism called Proof of History to accomplish this (PoH). To speed up transaction processing, this technique timestamps transactions made on Solana (SOL) and verifies them in batches.
Recently, Exchange. Art, a web marketplace for fine art centered in Solana announced the launch of a platform for generative art non-fungible tokens (NFT). The tool, known as Code Canvas, will let producers and buyers issue and exchange generative art NFTs on the Solana blockchain.
India’s tightened regulation around cryptocurrency can slow down crypto adoption. However, this also signals that a complete ban on crypto may be off India’s checklist and potential tokens like Big Eyes Coin, Fantom, and Solana may benefit.
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