Web3 Diaries- US Virginia Introduces Bill To Protect Digital Assets Mining Rights
The Virginia State Senate has presented legislation that outlines guidelines for the mining, trading, and tax treatment of digital assets.
On January 9, Senator Saddam Azlan Salim, the 34-year-old youngest member of the legislature, introduced Senate Bill No. 339. The Senate is currently discussing the bill, which will be considered by the House of Delegates if approved, before it becomes law.
Darewise, Animoca, Honda team-up for a new project
A new team is trying to put together an interesting game that will not just bring life to virtual reality space but seek to drive experience far and beyond.
Darewise Entertainment and Animoca Brands Japan announced they have partnered with Honda on a new project. The trio plans to bring transportation and vehicle-based gameplay to Darewise’s upcoming blockchain-based online game, Life Beyond.
Darewise and Honda will work together to build gameplay and game assets, as well as activities and Ordinals based on Honda’s vehicles. Players will be able to use Honda’s assets to travel around the in-game world of Dolos.
Terraform Labs Files Bankruptcy in Delaware
Terraform Labs, the company behind the stablecoin TerraUSD, which collapsed and roiled cryptocurrency markets in 2022, has finally succumbed to increased regulatory pressure.
The blockchain protocol and payment platform used for algorithmic stablecoins have filed a voluntary petition in Delaware for Chapter 11 bankruptcy, according to documents filed on Jan. 21.
The cryptocurrency firm declared in the filing that it has between $100 and $500 million in estimated assets and the same amount in liabilities. It is confident of meeting its entire financial obligations without requiring additional financing. It also plans to continue the expansion of its Web3 offerings.
TerraUSD, a dollar-pegged cryptocurrency, and Terra’s LUNA token collapsed in May 2022, destroying billions of dollars in investor wealth.
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