Hong Kong S.A.R., 16th Jun 2023, King NewsWire – The recent lawsuits against Coinbase and Binance by the Securities and Exchange Commission (SEC) have sent shockwaves through the cryptocurrency market. The SEC’s actions indicate a strong push to enforce regulations on crypto businesses offering securities, treating them similarly to traditional stock and bond exchanges. The charges filed against Binance, the world’s largest exchange, and Coinbase, the only publicly listed exchange in the United States, allege violations of securities laws. While SEC Chair Gary Gensler maintains that most crypto tokens are securities falling under the agency’s jurisdiction, there are debates among digital asset enthusiasts, regulators, and lawmakers about the extent of Gensler’s reach.
There are also some good news emerging this week, like the Petaverse project from Hong Kong, that meet all the legal requirements and filled the request to Hong Kong FEC for approval. Earlier this week when asked what is their opinion about the SEC lawsuit against Binance, Petaverse officials released a statement saying that “ The most important aspect of our project is that we are doing it correctly and following the legal requirements, in this way offering more stability for our ecosystem”. The Petaverse native token is implemented with ERC1400 and all the legal declarations are stored in token’s metadata space.
[Hong Kong — June 15, 2023] — Petaverse, a groundbreaking WEB3 platform based in Hong Kong, is set to transform the traditional pet industry by combining physical and virtual elements to offer pet owners an unparalleled interactive experience. With a wide array of features including pet socialization, consultation services, gaming, virtual assets, and more, Petaverse aims to empower pet owners in providing exceptional care for their beloved companions while enhancing the bond between pets and their owners.
At the core of Petaverse lies the unique “participate to earn” system, designed to incentivize pet owners, pet associations, and pet stores to actively engage with the platform. Through this innovative mechanism, users will have the opportunity to earn rewards in the form of the platform’s native token. These tokens can be utilized for shopping and redemption within the Petaverse ecosystem, effectively turning pet care and interaction into a rewarding experience.
“We believe that by merging the physical and virtual realms, we can create an unprecedented virtual pet world that revolutionizes the way pet owners, pet stores, and metaverse players interact with their virtual pets — Petaverse official statement”.
The project is proud to announce the upcoming launch of Petrip, one of the most exciting and engaging earning programs to date. With Petrip, users will have the opportunity to earn incentives while traveling with their pets to various locations. This innovative concept further strengthens the bond between pets and their owners, while simultaneously rewarding their exploration and adventure.
Petaverse invites pet owners, pet associations, and pet stores to join the journey into this transformative pet world. To learn more about Petaverse and stay updated on the latest developments, visit https://www.petaverse.space/en
Petaverse invites pet owners, pet associations, and pet stores to join the journey into this transformative pet world. To learn more about Petaverse and stay updated on the latest developments, visit https://www.petaverse.space/en
You can follow Petaverse development on:
Facebook: https://www.facebook.com/100075970926605
Twitter — https://twitter.com/Petians_1
Discord — https://t.co/yRy8QYroTV
Media Contact
Organization: PETAVERSE
Contact Person: Cosmin M.
Website: https://www.petaverse.space/en
Email: news@petaverse.io
Country: Hong Kong S.A.R.
Release Id: 1606234167
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