GameStop to launch an NFT-related project, and Canadian regulator sues Poloniex

American GameStop Network to launch an NFT-related project

The American network for the sale of game consoles, computer games, and game accessories GameStop will launch an Ethereum platform for NFT tokens. The exact date of the platform launch has not yet been disclosed.

“We are building a team. We welcome exceptional engineers (solidity, react, python), designers, gamers, marketers, and community leaders,” the company’s announcement, which is posted on the site’s website, says.

Probably, the target audience of the project will be not only players and developers, but also potential NFT collectors. There is also a slogan on the site: “Power to the players. Power to the creators. Power to the collectors.”

Canadian regulator accuses Poloniex of illegal asset trading

The Ontario Securities and Exchange Commission has sued the popular crypto platform Poloniex. OSC believes that the exchange is carrying out illegal trading in stocks and derivatives.

In early spring of this year, it became known that companies conducting operations with cryptoassets in Canada are required to register as investment dealers. Until April 19, such companies had to contact the regulator to warn of possible sanctions against them.

70 platforms applied to OSC, some of which were registered outside Canada, but Poloniex was not among them. Now the platform faces a large fine, as well as a ban on trading in securities.

Wharton School of Business talks about the possibilities of decentralized finance

DeFi has the potential to transform the global financial market. According to experts at the Wharton School of Business at the University of Pennsylvania, such assets can be used in insurance, lending, capital management, the development of decentralized exchanges, and the issuance of stablecoins.

In addition, the use of DeFi is possible when running “ancillary services” such as wallets and oracles. Decentralized finance can help alleviate market pressures, transaction costs, and asset allocation costs.

However, business school experts have also pointed out the disadvantages of DeFi. For example, these are frequent cases of fraud, an uncertain attitude of regulators towards such assets, and immaturity of the technology.