Blockchain DXB: Crypto & Coffee at 8 ☕ 28th Aug 🚀 🟢MakerDAO rebrands to Sky 🟣Ethereum Foundation spending 👀 New Zealand Crypto Tax Framework ❗ Russia stablecoin plan?

28th Aug: Crypto & Coffee at 8

🟢MakerDAO rebrands to Sky 🟣Ethereum Foundation spending 👀 New Zealand Crypto Tax Framework ❗ Russia stablecoin plan?

🟣 MakerDao to SKY: A Defi decision in a Centralized way?

👀 Rune Christensen, co-founder of Makerdao posted a video on Twitter (X) here https://rb.gy/e2se1y We are in the endgame now https://sky.money/ is the new project 

The aim is to unlock the next evolution in DeFI, Decentralized, non-custodial services and rewards 

- Brand new feature- Native token reward

- End-to-end focus on simplicity & ease of use 

- The sky protocol will have two upgraded tokens 1) USDS stablecoin and 2) Sky governance token. Loads of useful information about the App were discussed in the video. Importantly, the original tokens, DAI and MKR, will continue to exist, with each MKR token being equivalent to 24,000 SKY tokens.

- Stars- Sub-DAOs with 1st star called Spark- A top 10 Defi protocol already? The launch date is later on

- Important - It will be restricted in some countries such as the USA & UK ( Not borderless, censorship-resistant) The project goes live on 18th September

🎙️ Check out the Blockchain DXB episode we share our commentary on this

🟢 Vitalik Buterin and Josh Stark provided a breakdown of the Ethereum Foundation's 2023 spending on Aug. 27 via X here. We recommend going through a series of posts here https://t.ly/BOa7J

- 36.5% allocated to "new institutions" supporting Ethereum.

- 24.9% spent on Layer-1 research and development.

- Kain Warwick criticized the foundation for neglecting DeFi.

- Buterin responded, emphasizing his focus on sustainable DeFi projects.

- The Ethereum Foundation partnered with ETH Kipu to promote blockchain education in Argentina:

- Hosted high school workshops.

- Launched a Solidity programming course.

👀 New Zealand plans to implement the OECD's crypto reporting framework by April 2026. The framework aims to ensure that firms provide tax information on crypto transactions in a way that facilitates international information exchange and combats tax evasion. Info here https://t.ly/UTa_X

-Crypto-asset service providers would have to collect information on their users' transactions starting April 1, 2026, 

- Firms will have until June 30, 2027, to report the information to the Inland Revenue.

🚨Russia stablecoin plans

- Russia plans to launch two new crypto exchanges in Moscow and St. Petersburg to support foreign economic activity. These exchanges will likely operate under an experimental legal regime due to sanctions risks and will initially serve large companies. They aim to create stablecoins, but face challenges with technology and liquidity. The exchanges will be regulated under an experimental legal framework rather than existing cryptocurrency laws. 

🟠 Two UAE news (See slides)

⚡ Okto Secures Business License from RAK Digital Assets Oasis

⚡ KAUST enhances its scientific research efforts with 67 projects in AI, bioinformatics, cybersecurity

For slides click here: https://tinyurl.com/352afa2h

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