Web3 News Summary on December 26th

1. Turkey requires users to provide identity information for transactions exceeding 425 US dollars

According to FinanceFeeds, Turkey announced anti-money laundering (AML) measures on December 25th in the Official Gazette of the Republic of Turkey, requiring users to provide identity information when conducting transactions exceeding 15,000 Turkish lira (425 US dollars) to prevent illegal fund transfers and terrorist financing through cryptocurrency. The regulation will take effect on February 25, 2025, and also requires providers to verify the identity of users transferring funds from unregistered wallet addresses. If the provider cannot obtain sufficient customer information, the transaction may be considered "risky", allowing the service provider to stop the transfer or consider other measures, such as restricting business relationships.

2. The Hashgraph Group obtains Abu Dhabi Fund Management License and will launch a $100 million Web3 Fund

According to Fintech Finance News, The Hashgraph Group (THG), headquartered in Switzerland, has obtained a fund management license from the Abu Dhabi Global Market (ADGM) in the United Arab Emirates. The license obtained by Hashgraph Ventures Manager, a subsidiary of The Hashgraph Group, allows it to launch a $100 million Web3 venture capital fund from the Abu Dhabi Global Market (ADGM).

The Hashgraph Group will invest 20 million dollars, which is 20% of the fund, as seed capital. The fund will focus on investing in startups and established companies within the Hedera ecosystem. The fund will prioritize strategic investments in companies in the Web3 and deep tech fields (developing artificial intelligence (AI), blockchain, robotics technology, and quantum computing solutions). Eligible projects will have the opportunity to participate in the Hashgraph Association's incubator program.

3. The Japanese government has made a formal response to the issue of Bitcoin reserves.

According to Coinpost, on the 20th of this month, the government formally responded to the question raised by Senator Satoshi Hamada regarding the movement of introducing Bitcoin reserves by the United States and other countries. The written response, released in the name of Prime Minister Shigeru Ishiba, clarified the government's position on the possibility of holding encrypted assets as reserves. The response stated that at this stage, there is not a detailed understanding of the movements of countries such as the United States, nor is there a detailed understanding of the movements of other countries regarding the introduction of Bitcoin reserves. Given the current situation, 'the government finds it difficult to express its own opinion'. As discussions on including encrypted assets in national reserve strategies progress domestically and internationally, the Japanese government continues to maintain a cautious stance.

4. Former FTX executive Ryan Salame's release date has been moved up by more than a year.

According to Business Insider, former FTX executive Ryan Salame's release date has been moved up by more than a year. He admitted this year to criminal charges related to the 2022 collapse of the Bankman-Fried cryptocurrency exchange and was sentenced in May to serve 7 and a half years in federal prison, reporting to prison in October. Federal Bureau of Prisons records reviewed by Business Insider in mid-December show Salame's sentence is scheduled to end on March 1, 2031, more than a year earlier than the original release date.

5. US-listed company KULR buys 217.18 bitcoins.

US-listed company KULR has initiated its Bitcoin reserve strategy, purchasing 217.18 bitcoins for a total of $21 million, at an average price of $96,556 per bitcoin. KULR is an energy management platform providing cutting-edge energy storage solutions for space, aerospace, and defense.