20 Nov, 2024

Laos Welcomes Over 5 Million Tourists in 2024, Generating Over USD 1 Billion

Laos has recorded over five million tourists this year, exceeding expectations and generating more than USD 1 billion in revenue, Prime Minister Sonexay Siphandone announced on 18 November.According to the PM, domestic tourist numbers surpassed the target by 27 percent, reflecting the success of the Visit Laos Year 2024 campaign.Sonexay also credited the surge in tourist arrivals to the Laos-China Railway, which connects key destinations like Vang Vieng, Luang Prabang, and Oudomxay. From adventure activities to UNESCO-listed heritage sites, these provinces offer attractions that have made them top tourist destinations.To complement these developments, tourism authorities have worked to enhance services at hotels, guesthouses, and restaurants, while adding new facilities at tourist sites. Looking ahead, the Prime Minister emphasized plans to further promote tourism by targeting specific groups and strengthening collaboration between public and private sectors. Efforts will focus on improving roads, tourist attractions, and facilities, while modernizing tourism management.Beyond the convenience of the railway, Laos’s distinctive natural and cultural offerings have drawn global attention. For instance, the river trips in Nam Et-Phou Louey National Park have earned widespread acclaim, with Condé Nast Traveler ranking the park among the world’s top 10 best night safaris in February 2023.Laos’s dedication to sustainable tourism has also garnered international recognition. Luang Prabang, known for its rich cultural heritage, received an award in the 2024 Green Destinations Top 100 Stories for its commitment to responsible tourism and cultural preservation. The award will be formally presented in Chile from 10 to 12 December.With plans to improve infrastructure and diversify offerings, Laos is set to attract even more visitors in the years ahead.

18 Nov, 2024

Tether-Backed Quantoz Launches Mica-Compliant Stablecoins USDQ, EURQ

Quick Take① Quantoz Payments, a blockchain firm based in the Netherlands, has launched two new MiCA-compliant stablecoins pegged to the Euro and the U.S. dollar.② The stablecoins will be listed on Bitfinex and Kraken on Thursday, Nov. 21.③ Tether, alongside Kraken and Fabric Ventures, will invest an undisclosed sum in the company.Tether-Backed Quantoz Launches Mica-Compliant Stablecoins USDQ, EURQShortly before the European Union's Markets in Crypto-Assets regulation, known as MiCA, takes full effect in December, a Netherlands-based firm has launched two MiCA-compliant stablecoins. Quantoz Payments is issuing two new tokens, USDQ and EURQ, stablecoins pegged to the dollar and the euro, respectively, on the Ethereum blockchain. Quantoz is regulated and licensed by the Dutch Central Bank as an Electronic Money Institution, and the stablecoins are fully backed by fiat and "highly liquid financial instruments," according to the firm. The launch comes at a crucial time for European crypto investors, with MiCA regulations restricting certain stablecoins set to go into effect in December. While Circle’s EURC and Société Générale’s EURCV now hold a record 67% market share of the euro-stablecoin market, other competitors such as EURQ are likely looking to claim their own share of the market. EURC's stablecoin supply also recently hit an all-time high. Tether, the world's largest stablecoin issuer, has yet to receive a license for its stablecoin USDT under MiCA. Coinbase has also not commented on whether or not it will delist the token in Europe, as it plans to do with other non-compliant stablecoins by the end of the year. The lack of clarity around USDT might provide one reason why Tether invested an undisclosed sum, alongside Kraken and web3 venture capital firm Fabric Ventures, in Quantoz Payments. "Our support for Quantoz highlights Tether’s commitment to fostering innovative and regulated solutions within the digital asset landscape," Tether CEO Paolo Ardoino said. USDQ and EURQ will be available for trading on Bitfinex and Kraken on Thursday, Nov. 21, according to Quantoz. Quantoz will hold 2% of the token on its balance sheet in accordance with MiCA regulations. "The support through this investment round from some of the best businesses in digital assets will enable us to provide a timely solution for digital asset markets as well as unlock the benefits of blockchain-based money for more traditional use cases," Quantoz CEO Arnoud Star Busmann said.

15 Nov, 2024

XRP Soars 20% as SEC Chair Gensler's Exit Fuels Crypto Rally

XRP, the native cryptocurrency of Ripple, has experienced a remarkable price surge, reaching a six-month high of $0.83. This uptick comes amid growing optimism within the cryptocurrency market, driven by favorable regulatory developments and speculations about changes at the U.S. Securities and Exchange Commission (SEC). Notably, rumors about the potential resignation of SEC Chairman Gary Gensler have ignited investor hopes that a new leadership could offer a more favorable regulatory environment for digital assets, especially Ripple and XRP.XRP's Price Surge and Market MovementsOver the past 24 hours, XRP’s price has increased by 20%, with its 24-hour trading volume rising by 72% to reach $11.13 billion. This surge follows Ripple’s ongoing legal victory against the SEC, which has instilled confidence in the cryptocurrency’s future. XRP’s price jump, now averaging around $0.81, marks a 50% increase over the past week, a level last seen in June 2023. While other major cryptocurrencies, such as Bitcoin (BTC) and Dogecoin (DOGE), have faced losses, XRP’s rally stands out, highlighting the growing investor interest in Ripple’s success.Ripple’s Legal Victory and Growing ConfidenceRipple has recently won a significant court ruling in its legal battle against the SEC, which has improved market sentiment. Ripple’s CEO, Brad Garlinghouse, has expressed optimism about the company’s future as it continues to battle regulatory challenges. In particular, a ruling in favor of Ripple in a major lawsuit signals that the company can better navigate the evolving regulatory landscape, potentially benefiting XRP’s long-term price outlook. Additionally, large-scale XRP transactions, including the movement of 105 million XRP from Binance to an undisclosed wallet, are seen as a sign of investor confidence, further supporting XRP’s price surge.Gensler’s Potential Exit and the Future of Crypto RegulationOne of the key factors behind the recent surge in XRP’s price is speculation regarding the imminent departure of SEC Chairman Gary Gensler. In a recent speech, Gensler hinted at stepping down, fueling hopes that a new SEC leadership under President-elect Donald Trump could result in more favorable regulations for cryptocurrencies. Trump’s pro-crypto stance has led to speculations that his administration would foster a crypto-friendly environment, benefiting U.S.-based projects like Ripple. Gensler’s tenure, known for stringent enforcement against crypto projects, has led many to believe that a change in leadership could bring relief to the industry.XRP’s Growth PotentialAs Ripple continues to secure legal victories and the regulatory environment for crypto shows signs of improvement, analysts predict that XRP could see even further price increases. With Ripple gaining momentum in its ongoing battles, XRP’s market capitalization has reached $47.45 billion, and analysts suggest that it could soon break its current price formation, potentially reaching $1.50. The potential for higher demand, coupled with decreased liquidity due to large transactions, may continue to drive XRP’s price upward.

13 Nov, 2024

Laos-China Railway Hits 3 Million Passengers in First 10 Months of 2024

Over the first ten months of 2024, the Laos-China Railway transported a total of 3 million passengers, marking a 44.4 percent  increase in passenger volume, according to a report by Laos-China Railway Co., Ltd. (LCR) on 5 November.This figure, which averages around 10,000 passengers daily, includes 2.89 million domestic travelers and 107,000 cross-border passengers.Among these, 1,136 government officials and rescue volunteers traveled free of charge during emergency flood relief efforts, while 368 guests received free passage during the ASEAN Summit.To accommodate the increase in passengers, the railway made several improvements, including adding extra trains and extending service hours, especially in support of Laos’s ASEAN chairmanship and the Visit Laos Year 2024 campaign.Looking ahead, LCRC plans to introduce a fifth Electric Multiple Unit train in 2025 to further boost tourism and enhance convenience for visitors, supporting Laos’s expanding travel infrastructure.The Laos-China Railway, also called the Boten–Vientiane railway, was officially launched in December 2021. It is a key project under China’s Belt and Road Initiative, designed to improve regional connectivity and boost trade across Southeast Asia.

11 Nov, 2024

A16z Crypto Says Tokens Will Likely Be ‘Legitimate and Lawful’ Under New Regulations

Quick Take① A post from a16z crypto’s Policy and Regulations team discussing the ramifications of Trump’s re-election says it’s too early to predict specific regulations, but crypto founders should expect a less hostile regulatory environment.② Founders can now “feel empowered to explore all of the groundbreaking products and services that blockchains enable, including tokens,” the post states. A16z Crypto Says Tokens Will Likely Be ‘Legitimate and Lawful’ Under New RegulationsAs the cryptocurrency industry continues to make gains in the wake of the re-election of former President Donald Trump on Tuesday, notable VC firm a16z crypto has a message for crypto founders: When it comes to regulations, you can finally relax. "The good news is that there is now a pathway for constructive engagement with regulatory agencies and legislation that can bring regulatory clarity," a16z tells crypto founders in a new post. " You should now all feel empowered to explore all of the groundbreaking products and services that blockchains enable, including tokens."The post, written by a16z crypto's heads of policy and regulatory alongside its general counsel, sets out an optimistic expectation for laxer regulation and governance of the crypto sector under the incoming administration, though it says that the "vast majority" of speculation on the specifics of such a regime are just "noise" at this point. The post specifically calls out token issuance as one activity founders can have more confidence in. "For many of you who have delayed using tokens to distribute control of your project and build community due to fears of regulatory overreach, you should now have greater confidence in your project’s use of tokens as a legitimate and lawful tool," the post states. The authors, Miles Jennings, Brian Quintenz, and Michele Korver, also gestured towards a16z's plans for next year. "Next year, we’ll advocate for clear regulatory frameworks that foster and bolster innovation and decentralization...We’ll also soon release new guidance on the use of the Decentralized Unincorporated Nonprofit Association (DUNA) for projects looking to make the U.S. home, insulate tokenholders from liability, manage tax and compliance needs, and enable greater economic activity," the authors wrote, referencing Wyoming's unique law regarding DAOs. While the post is optimistic, the authors note that some behaviors may still run afoul of regulators. "While we’ll likely have greater flexibility to experiment, we can’t forget that the fundamental regulatory principles applicable to blockchain systems remain unchanged," the authors wrote, advising founders to "continue to focus on removing centralized aspects or dependencies on trust within your projects, as these are the areas that continue to attract regulatory scrutiny." "We’re optimistic that with clearer rules, it will make it easier to identify and shut down bad actors and allow well-meaning projects to take off," Jennings said in a post on X.

08 Nov, 2024

Detroit Leads U.S. in Crypto Tax Payments, Trump’s Pro-Crypto Stance May Inspire More Cities

The recent rally in Bitcoin, spurred by the optimism following Donald Trump's election, signals a new era of cryptocurrency adoption in the United States. Many analysts predict a 40% price increase for Bitcoin, with Trump's pro-crypto stance offering hope for less restrictive regulatory measures and a more favorable market environment. As Bitcoin and other digital currencies soar in popularity, U.S. cities like Detroit are making bold moves to integrate crypto into everyday financial systems.Detroit is set to become the largest U.S. city to accept cryptocurrency for tax payments, municipal fees, and services. This pioneering decision, which will roll out in mid-2025, is seen as a critical step in the broader adoption of blockchain technology by local governments. Mayor Mike Duggan highlighted the initiative’s potential to empower both residents and entrepreneurs, fostering financial inclusion in the process.Trump’s Pro-Crypto Policies Spark Nationwide MomentumTrump’s election has breathed new life into the cryptocurrency market, with his outspoken support for Bitcoin and digital assets influencing both the financial community and local government policies. His pro-crypto policies are expected to lead to more favorable regulations, spurring cities to embrace blockchain technology for various applications, including public services. Analysts have long predicted that this regulatory shift could push Bitcoin’s price to new heights, fueling optimism in markets across the U.S.As the largest city in Michigan, Detroit’s decision to accept crypto payments signals the start of a significant trend in the U.S. This move is part of a broader push to modernize city services by incorporating digital currencies, a step that aligns with the goals of improving transparency and accessibility. With the PayPal crypto platform ensuring secure transactions and easy conversion to U.S. dollars, Detroit’s new system aims to streamline payment processes for both crypto holders and traditional users.A Growing Trend of Cryptocurrency Adoption by U.S. CitiesDetroit is not alone in its interest in crypto payments. Other U.S. cities are also watching closely as blockchain technology begins to reshape how local governments handle payments. Cities like Miami and smaller towns such as Williston, North Dakota, have already implemented crypto payment systems for services like utility bills and town service fees. Meanwhile, other cities are exploring blockchain solutions for everything from property taxes to licensing fees.As more local governments follow Detroit’s lead, cryptocurrency could soon become a standard payment method for municipal services across the U.S. The increasing acceptance of digital currencies is poised to enhance financial inclusion, particularly for unbanked populations, and streamline payment systems across the country.Future of Cryptocurrency Payments in the U.S.The trend toward crypto payments in the U.S. is just beginning, with more cities likely to join the movement in the coming years. As Trump’s pro-crypto policies continue to encourage innovation and technological advancement, it’s clear that digital currencies are here to stay, offering new opportunities for governments and residents alike. The Detroit initiative is likely to set the stage for other cities considering similar systems, making it a key moment in the evolution of public finance and cryptocurrency adoption.

06 Nov, 2024

Crypto’s Regulatory Headwind Has Turned Into a Tailwind Following Trump’s Victory

Quick Take① Analysts at Bernstein said that crypto’s regulatory headwind had turned into a tailwind following Donald Trump’s election victory.② The analysts also reiterated their call for bitcoin to approach $90,000 by the end of this year and reach a bull cycle target of $200,000 in 2025.Crypto's regulatory headwind has turned into a tailwind following Trump's victoryFollowing Donald Trump’s win in the U.S. presidential election, analysts at research and brokerage firm Bernstein said that crypto’s regulatory headwind had now turned into a tailwind — and the market is “nowhere close to factoring in this shift.”The analysts, led by Gautam Chhugani, told clients in a Wednesday note they expect a new “crypto-friendly” Securities and Exchange Commission Chair and Senate Banking Committee to accelerate regulatory clarity for the industry. Under current Chair Gary Gensler, the SEC has embarked on several legal battles with key players, including Coinbase, Binance, Kraken and Robinhood, as well as against DeFi, NFT and stablecoin projects.The crypto industry seeks new rules on defining digital assets as something other than securities, the applicability of broker/dealer laws to crypto exchanges and DeFi, accelerated approvals for investment products like ETFs and enabling banks to own and custody crypto, Chhugani noted.In particular, the analysts predict faster progress on stablecoin and market structure bills, positively impacting stablecoin issuers such as Circle and Paxos and U.S crypto exchanges. They expect progress on other crypto rules and definitions over the medium term, leading to a re-rating of broader crypto assets outside of bitcoin and ether, which have been “suppressed due to regulatory overhang and lack of clarity on [their] security status.”Trump’s newfound pro-crypto stance put forward many policy promises during the campaign, including firing Gensler on “day one,” turning the U.S. into a bitcoin mining "powerhouse" and creating a national strategic bitcoin reserve, which the analysts also expect the new administration to make positive steps toward.The Republicans are also set to pull off a sweep of the presidency, House and Senate, with Trump winning the popular vote, to the surprise of many. “The crypto super PACs were instrumental in sending crypto friendly representatives to the Senate and the House. We expect a new regime of crypto rule making and this transformational shift is not priced in,” the analysts said.Bitcoin to reach $90,000 by year-end, $200,000 in 2025The total crypto market cap breached $2.5 trillion as news of the election result became clear, Chhugani noted. Bitcoin hit a new all-time high above $75,000 earlier on election night and is currently trading for $73,815, according to Bitcoin Price Page — up 7% over the past 24 hours. DeFi tokens such as Aave and Uniswap posted double-digit gains, alongside positive pre-market and early trading activity for crypto-related stocks like Coinbase and MicroStrategy on Wednesday.The analysts warned that the market’s initial reaction might be to “sell the news” but suggested any such dip was a buying opportunity for crypto and related stocks, reiterating their call for bitcoin to move closer to $90,000 by the end of this year, and reach a bull cycle target of $200,000 by the end of 2025 under the president-elect.Gautam Chhugani maintains long positions in various cryptocurrencies.

04 Nov, 2024

Laos’ Inflation Rate Drops to 20.7% in October

Laos’s inflation rate dropped slightly in October to 20.7 percent, down from 21.7 percent in September, according to official reports.According to data from the National Statistics Bureau, the Consumer Price Index also surged, rising from 245,8 in September to 249,6 in October, highlighting the escalating cost of living in the country.In October, healthcare and medicine costs decreased by 30.8 percent but still remain among the highest categories. Accommodation, water, electricity, and cooking gas costs rose by 29.8 percent, while prices in the restaurant and hotel category increased by 27.5 percent. Household appliances went up by 27.3 percent, education costs by 26.3 percent, and food and non-alcoholic beverages—which are the most consumed items by Lao people—increased by 22.1 percent.According to the report, some of the main reasons behind this month’s decrease of inflation rate were lower exchange rate pressure, together with changes in world oil prices and the domestic market struggling to adjust.

01 Nov, 2024

Sony Launches A New Era for Creators on Ethereum’s Layer 2

Sony Launches Soneium: New Ethereum Layer 2 Solution for CreatorsIn an exciting announcement, consumer electronics leader Sony has introduced Soneium, its proprietary Ethereum Layer 2 (L2) solution, set to go live on testnet in the coming weeks. This launch comes amid rising concerns in the crypto market over infrastructural inefficiencies and the need for more consumer-friendly applications.Focus on Creator Rights and Profit SharingAlthough details regarding Soneium's specific on-chain use cases are still unfolding, Sony’s primary emphasis is on supporting creators. The official Soneium blog highlights the importance of protecting creative rights and establishing innovative profit-sharing mechanisms that benefit both creators and their fans. This commitment to empowering content creators aligns with current industry trends, underscoring the growing recognition of their role in driving engagement and innovation.Built on Optimism’s Rollup Development KitSoneium will leverage Optimism’s rollup development kit, known as the "OP Stack," which currently supports 29 L2 chains within its Superchain ecosystem. This robust technological foundation ensures scalability and efficiency—critical factors for any successful blockchain project.Collaboration with StartaleThe Soneium launch will occur under Sony Block Solutions Labs, a joint venture between Sony Group Corporation and Startale, a Singapore-based blockchain infrastructure startup. With a recent $3.5 million funding round in June 2023, Startale brings valuable expertise, particularly its role in developing the Astar Network zkEVM chain, which will transition to Soneium.ZKsync Welcomes CREATOR ChainAt the same time, ZKsync is enhancing its ecosystem with the introduction of the CREATOR chain, a project incubated by ZTX (ZepetoX). This initiative seeks to leverage ZEPETO’s extensive user base of 20 million monthly active users to bridge Web2 and Web3. The CREATOR chain aims to provide personalized decentralized finance (DeFi) services for creators, capitalizing on ZKsync's zero-knowledge technology to enhance scalability and reduce transaction costs.Record Growth in Layer 2 TransactionsRecent metrics indicate that Layer 2 transactions are experiencing unprecedented growth, with Blast L2 nearing 2.5 million transactions in the past week alone. This positions it as the second most utilized L2 solution, following Base, according to data from Growthepie.As these developments progress, the focus on creator-centric blockchain solutions signals a transformative shift in the digital economy, presenting opportunities for mainstream adoption and innovative applications in the ever-evolving landscape of blockchain technology.