Today in Crypto: Binance Plans to Ask Court to Dismiss CFTC Lawsuit, Solana-Based Exchange.art Set to Integrate with Ethereum, UK’s Data Watchdog to Investigate Worldcoin -TGN

Get your daily, bite-sized summary of cryptoasset and blockchain related news – explore the stories flying under the radar of today’s crypto news._________

Legal news

• Crypto exchange Binance intends to ask the court to dismiss a lawsuit brought by the US Commodity Futures Trading Commission (CFTC) in March of this year. In a submit to a Illinois District Court, several Binance entities, CEO Changpeng Zhao and former Chief Compliance Officer Samuel Lim said they plan to file two separate motions to dismiss the recent CFTC complaint. “The Foreign Binance Entities and Zhao intend to file a joint motion to dismiss the complaint. Lim intends to file a separate motion to dismiss the complaint and join portions of the motion filed by the Foreign Binance Entities and Zhao,” it said.

Blockchain News

• Swap.artan art market Solanawill integrate with the Ethereum blockchain on August 1. The strategic cross-chain integration is launching with more than 80 Ethereum curated creators, including Amber Vittoria and Patrick Amadon, according to a press release. It also allows for an easier approach for creators, allowing them to “serve Solana and Ethereum collectors to enjoy higher discoverability and higher profits without any extra effort.”

Regulation news

• The United Kingdom’s data watchdog, the Bureau Information Commissions (ICO), will investigate World currencya project of Open AI CEOSam Altman. “We take note of the launch of WorldCoin in the UK and will investigate further,” said a spokesman for the Information Commissioner’s Office. told CoinDesk. Organizations “should have a clear legal basis to process personal data.” The Worldcoin Foundation spokesperson said they adhere to strict privacy guidelines and “continue to review local laws and regulations to ensure compliance.”

• Crypto exchange Rain has obtained a license to operate a virtual asset brokerage and custody service for its clients in the United Arab Emirates (UAE). CEO and co-founder, Joseph Dallago, tweeted that this is “the first licensed retail show” in the country. He added that this was a five-year effort, as the company inquired about licensure in 2018. “UAE residents can now fund their account in minutes, thanks to a partnership with a local bank in the UAE,” said Dallago.

DeFi news

• Decentralized infrastructure protocol Pocket network announced that its Decentralized Autonomous Organization (DAO) has approved a $1.4 million budget for projects that are “vital to its mission to provide developers with reliable, high-performance, and cost-effective Remote Procedure Call (RPC) access to blockchains.” According to a press release, the budget includes more than $500,000 in grants, as well as a fork of 80% of future DAO revenue, available to community contributors working on the DAO’s key projects, such as gateway-verse, an ERC20 packaged token, and Pocket Network’s upcoming full-stack protocol upgrade.

Gaming news

• Phantom galaxiesan open-world mech shooter ARPG, integrated Chain link Verifiable random function (VRF) on Polygon main net. “By integrating the industry’s leading decentralized oracle network, we now have access to a tamper-resistant and controllable source of randomness needed to randomize Planet traits upon beating,” saidBlowfish Studiosa subsidiary of Animoca Brands. This makes for a more exciting and transparent user experience, as users have verifiable assurances that the randomness underlying the generation of properties Planet NFTs (a game asset with distinctive in-game properties and usability) is provably fair and fraud-resistant, it added.

Career news

• Provider of OTC trading solutions for digital assets Upper markets announced the appointment of Tom Gould as the company’s new Director of Strategic Partnerships as part of its efforts to build the company’s senior leadership team, said the press release. Gould has more than 25 years of experience in the financial industry. He was previously Head of North American Sales at OK Group and with LMAX exchangeand held senior positions bank of America, Credit SwitzerlandAnd ABN AMROamong other things.