The Main Events of March in the Crypto Space
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- 1 The main events of March in the crypto space
The main events of March in the crypto space
In the first month of spring, several events will take place on the cryptocurrency market at once, which can affect both the cost of individual coins and the market as a whole.
Activating PowerUp Update on EOS Network
The EOS PowerUp Model update will be activated on March 11. Testing started in September last year, and on February 24, 2021, 15 out of 21 block manufacturers approved it. With the PowerUp upgrade, users will be able to rent resources, and token holders will be able to receive a percentage of the resource rental fees.
Symbol network launch and blockchain snapshot
On March 12, 2021, a snapshot of the NEM blockchain will be taken at block number 3 105 500, and all XEM token holders will receive XYM tokens at the launch of Symbol in a 1: 1 ratio. The event was supported by all major exchanges, and users of these exchanges will also receive tokens of the new blockchain after the launch of Symbol, which is scheduled for March 15, 2021. The developers are positioning Symbol as a next-generation enterprise-grade blockchain for developers and enterprises.
Banning South Korean exchanges from working with anonymous cryptocurrencies
From the beginning of March, a ban on working with digital assets that pose a high risk of money laundering, including anonymous cryptocurrencies, comes into force. This ban was introduced at the end of 2020 by the Financial Services Commission of South Korea (FSC). Regulators have ordered marketplaces to implement user display systems, and all users will have to go through a Know Your Customer (KYC) procedure.
Adding European stablecoins to the Avalanche ecosystem
In mid-January 2021, the Avalanche project announced a partnership with the e-Money project, which will add European stablecoins to the Avalanche ecosystem. It is planned to add digital euros (EUR), Swiss francs (CHF), Norwegian krone (NOK), Swedish krona (SEK), and Danish krone (DKK) in March. According to e-Money, all stablecoins are collateralized in the form of deposits and government bonds in commercial banks, and Ernst & Young conducts a quarterly audit of the collateral.
Denomination of Pundi X tokens
In March, NPXS tokens will be exchanged for new ones at a ratio of 1000: 1. The ticker of the new token will be published along with the contract closer to the exchange date so that the attackers could not take it. It is expected that all major exchanges will support the exchange, and it will also be available through the official wallet of the XWallet project. Stacking and other features will remain unchanged and will be available for the new token.
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