Web3 on 🔥 | 😞 Chinese citizens' data on sale

GM, welcome to Web3 on 🔥 today we will tell you what’s going on in the crypto world in 5 minutes, so you can spend the rest of your time wondering if there is a synonym for synonym…

📜 Hong Kong prepares to regulate crypto space🥸 US trying to make DAOs more transparent😞 Chinese citizens' data on sale

Hong Kong prepares to regulate crypto space

Crypto crackdown in Hong Kong

The Hong Kong government is introducing new legislation to regulate the crypto space.The proposed changes include a licensing regime for crypto service providers. This move comes as part of wider efforts by the government to combat money laundering and terrorist financing.

US trying to make DAOs more transparent

Crypto regulation is coming!

Don't worry, we're not talking about the end of the world.The Responsible Financial Innovation Act was just introduced and it has some major implications for the crypto world.

The bill proposes a comprehensive set of regulations for the digital assets sector, including DAOs. This is a big step forward for clarity in the crypto world – the bill is perhaps most productively seen as an invitation for further dialogue. In the coming months, its success or failure will largely be determined by the strength of the debates it generates. It has already engendered strong reactions from the industry one of the most hotly debated — and potentially impactful — sections of the legislation pertains to decentralized autonomous organizations.

What do you think about this new development?

Chinese citizens' data on sale

You might want to think twice before giving your personal information to the Chinese government.

According to a recent report, a hacker has stolen about 23 terabytes of data on a billion Chinese citizens from a Shanghai police database.The data is being offered for sale for 10 bitcoins. At the time of writing, this sum amounts to about $197,806.

The leaked data includes names, addresses, birthplaces, national ID numbers, mobile numbers, as well as crime and case details.The user shared a sample of 750,000 records to allow interested buyers to verify that the data for sale is not fake.

So if you're thinking about traveling or doing business in China anytime soon, you might want to think again and if you are worried that your crypto footprint may be vulnerable to leaks too... Don’t use centralized exchanges, but go for a wallet like Metamask or Ambire Wallet and protect your data.

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