JPMorgan Chase's digital token JPM Coin now handles $1 billion worth of transactions daily and the bank plans to continue widening its usage, Global Head of Payments Takis Georgakopoulos said. From a report: "JPM Coin gets transacted on a daily basis mostly in US dollars, but we again intend to continue to expand that," Georgakopoulos said Thursday in an interview on Bloomberg Television. JPM Coin enables wholesale clients to make dollar and euro-denominated payments through a private blockchain network. It's one of the few examples of a live blockchain application by a large bank, but remains a small fraction of the $10 trillion in US dollar transactions moved by JPMorgan on a daily basis. The company also runs a blockchain-based repo application, and is exploring a digital deposit token to accelerate cross-border settlements.

Balaji Srinivasan, former CTO of Coinbase and author of the Network State, has announced his first Network State Conference. This is a conference for people interested in founding, funding, and finding new communities.
Topics include startup societies, network states, digital nomadism, competitive government, legalizing innovation, and building alternatives. Speakers include Glenn Greenwald, Vitalik Buterin, Anatoly Yakovenko, Garry Tan, the Winklevosses, and Tyler Cowen. See presentations by startup society founders around the world, invest in them, and search for the community that fits you.

With this and Joseon, the first legally recognized cyber state, the network state movement is beginning to get interesting.

Another anonymous reader quotes from the Joseon Official X Account's reply to Balaji's announcement:

Joseon, the first legally recognized cyber nation state, will be there.
Interestingly, Joseon dons the same grey checkmark that is for governments on its X account.

An anonymous reader quotes a report from Reuters: Amazon has more than 181 million users in the European Union and directly employs more than 150,000 people in the region, the company said on Wednesday, in its first store transparency report as required by the EU Digital Services Act (DSA). In August, the Digital Services Act (DSA) imposed new rules on content moderation, user privacy and transparency for platforms and search engines labelled as very large online platforms (VLOP), which were defined as having more than 45 million users in the EU.

Amazon has challenged its inclusion in the group, saying it was not the largest retailer in any of the EU countries in which it operates. Germany is by far the biggest market for Amazon store with more than 60 million monthly active users, followed by Italy with 38 million users, according to the report. The company has corporate offices across 50 European cities and 250 logistics centers in the block. In the first half of 2023, the company said it took 274 million actions on its own initiative to remove content that violates policy, or other types of non-illegal content. Amazon also received 8,863 legal requests from EU governments for information about users of its service in the first half of 2023.

Pebble, the first of the would-be Twitter replacements to emerge after Elon Musk bought Twitter, is shutting down. The social media platform -- previously known as T2 to indicate a desire to build a Twitter clone -- was founded by former Twitter employees Sarah Oh and Gabor Cselle. Steven Vaughan-Nichols writes via ZDNet: Pebble was an early-stage, Twitter-like social network. Its goal was to become the "place to have the authentic conversations we've always wanted to have." Its founders, who were largely Twitter alumni, designed Pebble to look and feel like pre-Musk Twitter, with a 280-character limit and direct messaging. I rather liked it, but it appears I was in the minority. Pebble was always a bit rough around the edges, and it never made it past about 20,000 users.

In what was still a surprising announcement, Pebble revealed its plans to shut down operations on November 1, 2023. In a letter to users, Pebble said: "The painful truth, however, is that we were not growing quickly enough for investors to believe that we will break out. Combine that with a crowded space of alternatives -- and the uphill climb is even steeper. In order to continue to build out a complete Pebble, we would have needed more investment, and more time." That was not to be -- and Pebble's backers ran out of money and time.

A spokesperson for the platform stated: "While we are immensely proud of what we achieved with our dedicated team and an incredible community, the reality is that our growth rate was not meeting the expectations set by our investors." With the digital landscape burgeoning with alternative platforms, Pebble was competing in an increasingly crowded marketplace. As the platform prepares for its final curtain call, the team behind Pebble is shifting its focus to showing gratitude to its supportive community. They are exploring potential avenues to ensure that the connections formed on Pebble can continue in another guise. Further details are expected to be shared soon.

UK ministers are poised to reject Big Tech calls for greater scope to appeal against decisions made by the country's antitrust regulator under new digital markets rules, Bloomberg News reported Tuesday, citing people familiar with the matter. From the report: The government plans to use the new Digital Markets Unit within the regulator, the Competition and Market Authority, to apply extra scrutiny to companies such as Alphabet and Meta Platforms, and to curb their dominance. The division is expected to have powers to fine internet firms in a bid to protect consumers, and it may allow smaller companies to access the data held by bigger ones. It could lead to tech companies compensating media outlets for carrying news stories.

Under existing plans, challenges to DMU rulings would only cover whether the CMA followed the correct procedure when making its decisions. But tech companies have lobbied to be able to appeal decisions on a "full merits" basis that would include examining the regulator's assumptions and underlying evidence also. Ministers, however, are set to rebuff the demands of the tech companies, because they are concerned the proposals would make it harder for smaller companies to challenge their bigger rivals, according to the people, who asked not to be named because a final decision hasn't yet been made.

An anonymous reader quotes a report from CoinDesk: Chinese oil and gas company PetroChina (0857) has completed the first international crude oil trade using the country's central bank digital currency (CBDC), the e-CNY, China Daily reported on Saturday. PetroChina bought 1 million barrels of crude oil settled in e-CNY, or digital yuan, at the Shanghai Petroleum and Natural Gas Exchange (SHPGX) on Oct. 18, according to the report by the Chinese Communist Party-owned newspaper. The SHPGX did not disclose the exact value of the deal nor the seller's identity.

China's government may wish to use the e-CNY as a tool for expanding the international use of its currency, also known as the renminbi, so using it to settle purchases of major global commodities like crude oil would be one way to underpin this expansion. While almost all the world's major economies are at least looking at developing a CBDC, China's is comfortably among the most advanced. Transactions using the currency hit 1.8 trillion yuan ($250 billion) as of the end of June, with e-CNY accounting for 0.16% of the cash in circulation.

Bitcoin has surged past $33,000 per coin on Monday, rising nearly 11% in 24 hours. According to CoinGecko, the coin is up more than 17% in the past seven days. Decrypt reports: Bulls have flooded the space as talk about a spot Bitcoin ETF has investors hopeful that the long-awaited crypto product will soon get approval from the U.S. Securities and Exchange Commission. A Monday CoinShares report showed that institutional investors are pouring money into the space; JPMorgan analysts said last week that a spot Bitcoin ETF could be approved by Christmas.

High-profile investment firms that have applied to the SEC for a spot ETF are fine tuning their applications in the hope that the regulator will give them the green light. Investors have been hungry for a spot Bitcoin ETF for the best part of a decade but Wall Street's biggest regulator experts say has denied applications for such a product, mostly citing the potential for market manipulation as one of the main reasons.

But analysts are now more optimistic than ever before: BlackRock, world's biggest fund manager, applied for a Bitcoin ETF of its own. Not long after, manager Grayscale scored a victory against the SEC when a federal judge sided with the firm over its application to convert its flagship Bitcoin fund into an ETF.

An anonymous reader quotes a report from Wired: Hamas' attacks against Israel on October 7 have shifted the geopolitical landscape and triggered a looming Israeli ground assault in the Gaza Strip. Now the ripple effects are reaching the cryptocurrency industry, where they've become the United States Department of the Treasury's rallying cry for a crackdown on cryptocurrency anonymity services. The US Treasury's Financial Crimes Enforcement Network (FinCEN) [on October 19th] released a set of proposed rules that would designate foreign cryptocurrency "mixers" -- services that blend users' digital funds to offer more anonymity and make them harder to trace -- as money laundering tools that pose a threat to national security and would thus face new sanctions and regulations. The new rules, if adopted following a 90-day period of public comment and debate, would potentially represent the broadest restrictions imposed yet on the mixing services and could make it far harder for cryptocurrency holders to put their money through the services before cashing it out at a US cryptocurrency exchange, or even at a foreign exchange that accepts US customers.

While the proposed rules were almost certainly in the works long before October 7, the Treasury's announcement tied the push for a change in policy directly to the use of cryptocurrency by Hamas and militant groups in Gaza. "The Treasury Department is aggressively combatting illicit use of all aspects of the CVC ecosystem by terrorist groups," Wally Adeyemo, deputy secretary of the Treasury, wrote in a statement, using the term "CVC" to mean convertible virtual currency. Adeyemo says that this includes Hamas and Palestinian Islamic Jihad, a militant group that often aligns with Hamas, which Israel blamed for an explosion at a hospital in Gaza earlier this week.

Cryptocurrency mixers have existed almost as long as Bitcoin itself. They offer to take in a user's cryptocurrency, blend it with that of other users, and return the funds so that they are harder to follow from their origin to destination on blockchains, which generally record every transaction in full public view. The Treasury's rule change would designate those cryptocurrency-mixing services -- or at least the majority of them that are based outside the US -- as a "primary money laundering concern." They would thus be considered a threat to US national security as defined by section 311 of the Patriot Act, a section of the law designed to restrict how domestic financial institutions interact with potential sources of terrorist financing. The rule change would mean that US financial services, as well foreign ones with US customers -- including cryptocurrency exchanges -- would have to go through extra record-keeping and reporting requirements for funds that have touched a foreign cryptocurrency mixer, and it might even allow the Treasury to block US exchanges from handling those funds. "We've never seen anything like this before," says Ari Redbord, the head of global policy for TRM Labs, a blockchain analysis firm. Redbord notes that the rule change isn't proposing a blanket ban on foreign mixing services, only new rules for interacting with them. "The reality, however, is that 311 actions oftentimes have a sort of name-and-shame effect, where people are just not wanting to engage with these platforms out of fear of being caught up in money laundering or other type of illicit activity."

"I think the challenge for regulators is, how do we thread the needle between stopping illicit actors from using these platforms but at the same time allow regular users to enable some degree of privacy?" Redbord added. "I think the concern is that this could very much be throwing the baby out with the bathwater."

Brian Steinberg reports via Variety: So-called "pause ads" -- they only turn up a few seconds after a viewer has decided to halt the programming, and not every time one does -- are seeing new movement in the streaming world, with the format appearing more frequently on Hulu since July, according to Josh Mattison, senior vice president of revenue management and operations for Disney Advertising. Pause ads are also in motion in venues such as NBCUniversal's Peacock and Warner Bros. Discovery's Max.

As more media companies seek to goose subscriber rates by offering cheaper ad-supported versions of their streaming services, this type of commercial may become more handy. One of the main attractions of streaming, after all, is that it boasts fewer traditional commercials than its linear TV counterpart. The industry hopes that a pause ad -- other "out of pod" commercial experiences are also in development -- can appear on screen without upsetting a subscriber who gets viscerally roiled by the prospect of a glut of typical TV spots.

Others have also found ways to work ads into the moments when streaming fans come to a stopping point. NBCUniversal's Peacock launched with pause ads, says Peter Blacker, executive vice president of streaming and data products for NBCUniversal's ad-sales division, while Warner Bros. Discovery's Max introduced them in 2022, says Ryan Gould, head of digital ad sales and client partnerships at the company. No one has been holding back on the new format. Hulu has experimented with pauses since at least 2018, and an early version of the idea surfaced last decade when Coca-Cola and Universal Pictures tested concepts with ReplayTV, an early backer of digital video recording technology. Coke, which once used the slogan "the pause that refreshes" to great effect, and Charmin, the Procter & Gamble toilet tissue that can offer succor during many breaks in TV viewing, tested the format with Hulu in 2019.

An anonymous reader quotes a report from Techdirt: Cleveland has spent years being dubbed the "worst connected city in the U.S." thanks to expensive, patchy, and slow broadband. Why Cleveland broadband sucks so badly isn't really a mystery: consolidated monopoly/duopoly power has resulted in a broken market where local giants like AT&T and Charter don't have to compete on price, speeds, availability, customer service, or much of anything else. Data also shows that despite billions in tax breaks, regulatory favors, and subsidies, companies like AT&T have long refused to upgrade low-income and minority Cleveland neighborhoods to fiber. These companies not only engage in this deployment "redlining," but data also makes it clear they often charge these low income and minority neighborhoods more money for the same or slower broadband.

Last week I spent some time talking to Cleveland city leaders and local activists about their plan to do something about it. On one hand, they've doled out $20 million in COVID relief broadband funding to local non-profit DigitalC to deliver fixed wireless broadband at speeds of 100 Mbps for as little as $18. On the other hand, they've convinced a company named SiFi Networks to build a $500 million open access fiber network at no cost to taxpayers. SiFi Networks will benefit from a tight relationship with the city, while making its money from leasing access to the network to ISPs. [...]

Local activists like DigitalC CEO Joshua Edmonds tell me they hope the project teaches U.S. towns and cities that there are alternatives to being feckless supplicants to regional telecom mono/duopolies: "This is a major victory, and I hope that people don't look at it as just a major victory for Cleveland. Every city where there's a prevalent digital divide, where there's political will and ability to execute, people should be paying close attention to what happens in Cleveland, paying close attention to how DigitalC was able to fight and navigate with our coalition of stakeholders."

One 80-year-old retired teacher in Los Angeles lost $69,000 in bitcoin to scammers. And 46,000 people lost over $1 billion to crypto scams since 2021 (according to America's Federal Trade Commission).

Now the Los Angeles Times reports California's new moves against scammers using bitcoin ATMs, with a bill one representative says "is about ensuring that people who have been frauded in our communities don't continue to watch our state step aside when we know that these are real problems that are happening." Starting in January, California will limit cryptocurrency ATM transactions to $1,000 per day per person under Senate Bill 401, which Gov. Gavin Newsom signed into law. Some bitcoin ATM machines advertise limits as high as $50,000... Victims of bitcoin ATM scams say limiting the transactions will give people more time to figure out they're being tricked and prevent them from using large amounts of cash to buy cryptocurrency.

But crypto ATM operators say the new laws will harm their industry and the small businesses they pay to rent space for the machines. There are more than 3,200 bitcoin ATMs in California, according to Coin ATM Radar, a site that tracks the machines' locations. "This bill fails to adequately address how to crack down on fraud, and instead takes a punitive path focused on a specific technology that will shudder the industry and hurt consumers, while doing nothing to stop bad actors," said Charles Belle, executive director of the Blockchain Advocacy Coalition...

Law enforcement has cracked down on unlicensed crypto ATMs, but it can be tough for consumers to tell how serious the industry is about addressing the concerns. In 2020, a Yorba Linda man pleaded guilty to charges of operating unlicensed bitcoin ATMs and failing to maintain an anti-money-laundering program even though he knew criminals were using the funds. The illegal business, known as Herocoin, allowed people to buy and sell bitcoin in transactions of up to $25,000 and charged a fee of up to 25%.
So there's also provisions in the law against exorbitant fees: The new law also bars bitcoin ATM operators from collecting fees higher than $5 or 15% of the transaction, whichever is greater, starting in 2025. Legislative staff members visited a crypto kiosk in Sacramento and found markups as high as 33% on some digital assets when they compared the prices at which cryptocurrency is bought and sold. Typically, a crypto ATM charges fees between 12% and 25% over the value of the digital asset, according to a legislative analysis...

Another law would by July 2025 require digital financial asset businesses to obtain a license from the California Department of Financial Protection and Innovation.

"In 2023, the state of our digital privacy is: Very Creepy." That's the verdict from Mozilla's first-ever "Annual Consumer Creep-o-Meter," which attempts to set benchmarks for digital privacy and identify trends: Since 2017, Mozilla has published 15 editions of *Privacy Not Included, our consumer tech buyers guide. We've reviewed over 500 gadgets, apps, cars, and more, assessing their security features, what data they collect, and who they share that data with. In 2023, we compared our most recent findings with those of the past five years. It quickly became clear that products and companies are collecting more personal data than ever before — and then using that information in shady ways...

Products are getting more secure, but also a lot less private. More companies are meeting Mozilla's Minimum Security Standards like using encryption and providing automatic software updates. That's good news. But at the same time, companies are collecting and sharing users' personal data like never before. And that's bad news. Many companies now view their hardware or software as a means to an end: collecting that coveted personal data for targeted advertising and training AI. For example: The mental health app BetterHelp shares your data with advertisers, social media platforms, and sister companies. The Japanese car manufacturer Nissan collects a wide range of information, including sexual activity, health diagnosis data, and genetic information — but doesn't specify how.

An increasing number of products can't be used offline. In the past, the privacy conscious could always buy a connected device but turn off connectivity, making it "dumb." That's no longer an option in many cases. The number of connected devices that require apps and can't be used offline are increasing. This trend, coupled with the first, means it's harder and harder to keep your data private.
Privacy policies also need improvement. "Legalese, ambiguity, and policies that sprawl across multiple documents and URLs are the status quo. And it's getting worse, not better. Companies use these policies as a shield, not an actual resource for consumers." They note that Toyota has more than 10 privacy policy documents, and that it would actually take five hours to read all the privacy documents the Meta Quest Pro VR headset.

In the end they advise opting out of data collection when possible, enabling security features, and "If you're not comfortable with a product's privacy, don't buy it. And, speak up. Over the years, we've seen companies respond to consumer demand for privacy, like when Apple reformed app tracking and Zoom made end-to-end encryption a free feature."

You can also take a quiz that calculates your own privacy footprint (based on whether you're using consumer tech products like the Apple Watch, Nintendo Switch, Nook, or Telegram). Mozilla's privacy advocates award the highest marks to privacy-protecting products like Signal, Sonos' SL Speakers, and the Pocketbook eReader (an alternative to Amazon's Kindle. (Although 100% of the cars reviewed by Mozilla "failed to meet our privacy and security standards.")

The graphics on the site help make its point. As you move your mouse across the page, the cartoon eyes follow its movement...

An anonymous reader shared this report from the Washington Post: For years, tech companies like Open AI have freely used news stories to build data sets that teach their machines how to recognize and respond fluently to human queries about the world. But as the quest to develop cutting-edge AI models has grown increasingly frenzied, newspaper publishers and other data owners are demanding a share of the potentially massive market for generative AI, which is projected to reach to $1.3 trillion by 2032, according to Bloomberg Intelligence.

Since August, at least 535 news organizations — including the New York Times, Reuters and The Washington Post — have installed a blocker that prevents their content from being collected and used to train ChatGPT. Now, discussions are focused on paying publishers so the chatbot can surface links to individual news stories in its responses, a development that would benefit the newspapers in two ways: by providing direct payment and by potentially increasing traffic to their websites. In July, Open AI cut a deal to license content from the Associated Press as training data for its AI models. The current talks also have addressed that idea, according to two people familiar with the talks who spoke on the condition of anonymity to discuss sensitive matters, but have concentrated more on showing stories in ChatGPT responses.

Other sources of useful data are also looking for leverage. Reddit, the popular social message board, has met with top generative AI companies about being paid for its data, according to a person familiar with the matter, speaking on the condition of anonymity to discuss private negotiations. If a deal can't be reached, Reddit is considering blocking search crawlers from Google and Bing, which would prevent the forum from being discovered in searches and reduce the number of visitors to the site. But the company believes the trade-off would be worth it, the person said, adding: "Reddit can survive without search."
"The moves mark a growing sense of urgency and uncertainty about who profits from online information," the article argues. "With generative AI poised to transform how users interact with the internet, many publishers and other companies see fair payment for their data as an existential issue."

They also cite James Grimmelmann, a professor of digital and information law at Cornell University, who suggests Open AI's decision to negotiate "may reflect a desire to strike deals before courts have a chance weigh in on whether tech companies have a clear legal obligation to license — and pay for — content."

Karen K. Ho reports via ARTnews: British Museum has announced plans to digitize its entire collection in order to increase security and public access, as well as ward off calls for the repatriation of items. The project will require 2.4 million records to upload or upgrade and is estimated to take five years to complete. The museum's announcement on October 18 came after the news 2,000 items had been stolen from the institution by a former staff member, identified in news reports as former curator Peter Higgs. About 350 have been recovered so far, and last month the museum launched a public appeal for assistance. [...]

On the same day the British Museum announced its digitization initiative, Jones and board chairman George Osborne gave oral evidence to the UK Parliament's Culture, Media and Sport Committee. Their comments included an explanation of how the thefts occurred, policy changes made as a result, and how the museum will handle whistleblower complaints going forward. They also gave more details about the British Museum's strategy for digitizing its collection, estimated at a cost of $12.1 million. "We are not asking the taxpayer or the Government for the money; we hope to raise it privately," Osborne said.

The increased digital access to the collection would also be part of the museum's response to requests for items to be returned or repatriated. "Part of our response can be: "They are available to you. Even if you cannot visit the museum, you are able to access them digitally." That is already available -- we have a pretty good website -- but we can use this as a moment to make that a lot better and a lot more accessible," Osborne said.

Ty Roush reports via Forbes: Convoy, a Seattle-based digital freight booker with investors that include billionaires Bill Gates and Jeff Bezos, announced Thursday it would be shutting down, according to Bloomberg, after the company failed to find a buyer amid a "massive freight recession." Convoy's founder and chief executive Dan Lewis notified employees in an internal memo Thursday that "today is your last day at the company," noting the company is "exploring and evaluating strategic options for what might come next," Bloomberg reported.

Lewis said the company had evaluated potential suitors to acquire it, though "none of the options ultimately materialized into anything sufficient to keep the company going in its then current form." Convoy was in "the middle of a massive freight recession and a contraction in the capital markets," according to Lewis, who added "this combination ultimately crushed our progress" and likely swayed potential suitors away from acquiring the firm. "Following an exhaustive process, spanning many, many months during which we explored all viable strategic options for the business, the result is where we are today," Lewis wrote. Convoy was founded in 2015 in an effort to prevent trucks from driving "empty miles" without loads. The idea was to use technology to make freight more efficient by connecting truck drivers with freight companies -- reducing shippers' costs, increasing carriers' earnings, and eliminating carbon emissions in the process.

New York Attorney General Letitia James is suing three cryptocurrency companies -- Gemini, Genesis, and Digital Currency Group (DCG) -- over claims they misled investors, leading to the loss of over $1 billion. From a report: In a lawsuit filed on Thursday, James says their alleged fraudulent schemes affected over 230,000 investors. The lawsuit targets Gemini, the crypto exchange owned by Cameron and Tyler Winklevoss, and its Earn program. The firm marketed Gemini Earn as a high-yield program that involved customers investing with Genesis Global Capital, which is owned by DCG. However, James alleges that Gemini knew investing with Genesis was risky and misled customers as a result.

Google has been caught hosting a malicious ad so convincing that there's a decent chance it has managed to trick some of the more security-savvy users who encountered it. From a report: Looking at the ad, which masquerades as a pitch for the open source password manager Keepass, there's no way to know that it's fake. It's on Google, after all, which claims to vet the ads it carries. Making the ruse all the more convincing, clicking on it leads to Äeepass[.]info, which, when viewed in an address bar, appears to be the genuine Keepass site. A closer look at the link, however, shows that the site is not the genuine one. In fact, Äeepass[.]info -- at least when it appears in the address bar -- is just an encoded way of denoting xn--eepass-vbb[.]info, which, it turns out, is pushing a malware family tracked as FakeBat. Combining the ad on Google with a website with an almost identical URL creates a near-perfect storm of deception.

"Users are first deceived via the Google ad that looks entirely legitimate and then again via a lookalike domain," Jerome Segura, head of threat intelligence at security provider Malwarebytes, wrote in a post on Wednesday that revealed the scam. Information from Google's Ad Transparency Center shows that the ads have been running since Saturday and last appeared on Wednesday. The ads were paid for by an outfit called Digital Eagle, which the transparency page says is an advertiser whose identity has been verified by Google.

An anonymous reader writes: Adobe has unveiled a sparkling, interactive dress -- and got the research scientist who created it to model the high-tech couture. Video of the dress debut shows researcher Christine Dierk wearing the slinky strapless number that, upon first glance, looks like the average sequined cocktail dress. With the click of a handheld remote, however, the dress began to shift patterns like something out of a fashion-forward science fiction film. Created under Adobe's "Project Primrose" initiative, this "digital dress," as Dierk described it for the audience at Adobe's MAX conference last week, "brings fabric to life."

"Unlike traditional clothing, which is static, Primrose allows me to refresh my look in a moment," the Adobe scientist said, demonstrating the clothing's capabilities by having its colors go from light to dark in an instant. The digital dress patterns can also, as Dierks demonstrated, be animated, and will even respond to movement -- though that last feature appeared glitchy and didn't work at first. The researcher-turned-model also told the hosts of her portion of the convention that she not only designed the dress with the help of her team at Adobe, but also stitched it herself.

While the specs of this particular smart garment haven't been published, the high-tech sequins used for smaller Project Primrose offerings, a handbag and a canvas, were described by Dierks and her co-researchers last year in an article presented at a tech conference. As the article explains, those "sequins" are actually "reflective light-diffuser modules" that use reflective-backed polymer-dispersed liquid crystals (PDLC), which are most often used in smart lighting. Technically, all those sequins are tiny screens.

Sandali Handagama reports via CoinDesk: Binance.US users can no longer withdraw dollars directly from the platform after the exchange updated its terms of use on Monday. "In the event that customers wish to withdraw U.S. dollar funds from their account, they may do so by converting U.S. dollar funds to stablecoin or other digital assets, which can subsequently be withdrawn," the email said.

In early June, the firm suspended dollar deposits, saying the U.S. Securities and Exchange Commission's (SEC) "extremely aggressive and intimidating tactics" against the crypto industry had left banking partners reluctant to engage with the sector. In the same message, Binance.US warned customers that its banking partners were preparing to pause dollar withdrawals as early as June 13.

An anonymous reader quotes a report from U.Today:
The country was reimagined by Joseon King Andrew Lee as a digital nation without territory or borders. In this status, it was recognized by Antigua and Barbuda: the two countries inked a treaty that supports education, economic investment and other developmental initiatives and provides the basis for long-standing friendly relations.

Speaking to U.Today, representatives of the country stressed its unique legal design and state management model:

"Joseon is a crypto safe haven in this world where you can legally engage in crypto without any risk of any kind because sovereignty is the absolute authority in this world and another sovereignty doesn't have authority over another sovereignty"

Per their official statement, cryptocurrencies represent legal tender in Joseon and can be used for investments, daily payments and cross-border transactions.
Another report from Bitcoinist details several companies launching in Joseon, including First Day Out Collective which represents a song from Rundown Spaz and Kanye West:
Let's talk about the banger that's making this all come alive: "First Day Out,: a fire track by Rundown Spaz featuring none other than Kanye West, now owned by a DAO and legally recognized corporation in the progressive cybernation of Joseon, which itself is a legally recognized nation-state.