Indian telecom giant Jio Platforms, owned by billionaire Mukesh Ambani, has launched its reward-based token, JioCoin, on the Polygon network. The token was integrated into Jio’s proprietary JioSphere browser, which allows users to earn JioCoins while browsing. However, Jio has not made an official announcement regarding the token’s full utility or potential use cases.
While JioCoin is currently not transferable or redeemable, industry experts speculate it may eventually serve as a currency within Jio’s vast network of companies. Users could potentially redeem the token for services such as mobile recharges or purchases at Reliance gas stations. Despite the potential, the community has raised questions about the token’s transparency, including concerns about its block explorer, smart contracts, and listing on price trackers.
Critics have compared JioCoin to the Brave browser’s Basic Attention Token (BAT), while some view it as a marketing gimmick. Meanwhile, supporters highlight the token’s integration with blockchain and Web3 technology, noting it could bring practical utility to users in the future. The launch comes amid a strict regulatory environment for cryptocurrencies in India, with a flat 30% tax on crypto gains and no loss offsets.
Block Inc has agreed to pay $80 million to 48 US state financial regulators over inadequate money laundering controls on its Cash App platform. The settlement follows findings that the company’s compliance measures were insufficient for policing money laundering risks effectively.
An independent consultant will review Block’s Bank Secrecy Act and anti-money laundering programme and report any deficiencies to regulators. The company has also committed to making internal corrections to strengthen its compliance framework.
A Block spokesperson stated the concerns primarily related to past compliance measures and highlighted significant investments made since then to improve risk management. Cash App, which had 56 million monthly users in December 2023, processed over $248 billion in inflows last year.
Republican officials at the US Securities and Exchange Commission (SEC) are preparing to overhaul the agency’s cryptocurrency policies following the inauguration of President-elect Donald Trump. Commissioners Hester Peirce and Mark Uyeda, who will soon hold the majority at the SEC, are expected to begin reviewing crypto enforcement cases and initiating rule-making efforts to clarify when digital assets are considered securities. Trump’s pick for SEC chair, Paul Atkins, is widely expected to roll back the tough regulatory approach taken under outgoing chair Gary Gensler.
Gensler’s SEC pursued 83 crypto-related enforcement actions, targeting companies like Coinbase and Kraken. Many of these cases argued that cryptocurrencies function as securities and should comply with SEC regulations. Peirce and Uyeda are expected to review and potentially freeze some litigation that does not involve fraud. Industry leaders have long called for clearer regulations, and the new SEC leadership may start a public consultation process to shape future crypto policies.
Trump’s administration is also expected to issue executive orders directing financial regulators to reassess their crypto policies. Bitcoin surged past $100,000 in December amid optimism about a more crypto-friendly regulatory environment. Legal experts caution that dismissing numerous enforcement actions would be unprecedented and could set a controversial precedent. However, settlement negotiations may offer a pathway to resolving disputes while maintaining accountability for fraudulent activities in the sector.
Polygon Labs has partnered with Reliance Jio, India’s largest telecom operator, to bring blockchain and Web3 capabilities to its extensive infrastructure. Serving over 450 million users, Jio plans to integrate Polygon’s technology to enhance its applications and services, creating seamless access to Web3 innovations without exposing users to its complexities.
Jio Platforms CEO Kiran Thomas expressed enthusiasm for exploring the vast potential of Web3 to deliver exceptional digital experiences. Meanwhile, Polygon CEO Marc Boiron noted the collaboration is already live on the network, reflecting significant strides for blockchain adoption in India. The development has also boosted confidence within the Polygon community, with its native token, POL, rising over 5% in response.
Reliance Industries, led by Mukesh Ambani, has a strong history of technological innovation, from revolutionising India’s 4G sector to exploring blockchain’s potential in energy trading. Akash Ambani, Mukesh Ambani’s eldest son, has also championed blockchain and cryptocurrency, hinting at further blockchain-driven projects from the telecom giant.
Crypto scammers have increasingly turned to Telegram malware scams, with reports revealing a staggering 2,000% rise in such incidents since November. Unlike traditional phishing scams, these schemes involve fake verification bots within bogus trading, airdrop, and alpha groups, tricking users into downloading malware. Once installed, the malware allows attackers to steal passwords, crypto wallet keys, and browser data.
Security experts have noted this shift as scammers adapt to user awareness of phishing links. Malware tactics, such as fake Cloudflare verification pages and copied text injection, now dominate the landscape. Security firm Scam Sniffer highlighted that these scams target legitimate communities and rely on sophisticated social engineering to lure victims.
The consequences are severe yet difficult to measure, with $2.3 billion stolen in 2024 across 165 incidents, according to Cyvers. Whilst losses in December were lower than usual, scammers continue to evolve their methods, making these attacks increasingly challenging to counter.
Cannes is set to embrace cryptocurrency payments as part of its preparations for the Ethereum Community Conference (EthCC) in 2025. Mayor David Lisnard has announced training sessions for local merchants to adopt crypto payment systems, starting on 4 February at the Palais des Festivals et des Congrès. The initiative will cover crypto integration’s technical, legal, accounting, and tax aspects, aligning with the city’s broader Web3 strategy.
To welcome EthCC attendees and tourists, Cannes will develop a “crypto-friendly” merchant map showcasing businesses that accept digital payments. EthCC, Europe’s largest Ethereum event, will take place from 30 June to 3 July 2025 and is expected to draw over 10,000 attendees. This provides local businesses a unique opportunity to connect with a global audience and enhance Cannes’ reputation as a premier destination for major events.
Whilst focused on boosting local commerce, Lisnard’s pro-crypto stance has stirred speculation about potential ambitions for the 2027 French presidential race. The move underscores Cannes’ commitment to blockchain and digital finance innovation, setting an example for other cities worldwide.
Dubai is set to add a 17-storey Crypto Tower to its skyline by 2027, with developers DMCC and REIT Development announcing that the building will be a hub for blockchain and crypto startups. The tower will feature office floors for crypto companies, incubators for blockchain projects, an AI innovation floor, a crypto club, and an NFT art gallery, all powered by blockchain technology. DMCC’s Ahmed Bin Sulayem emphasised that the Crypto Tower will showcase Web3’s future, ensuring transparency and ownership through blockchain.
The development follows the success of DMCC’s crypto centre in Uptown Tower, supporting the growing blockchain ecosystem in the region. Meanwhile, in Asia, a Bitcoin hotel is set to open in Tokyo in Q3 2025. Operated by Metaplanet, the hotel aims to become a hub for Bitcoin adoption, education, and community, featuring a Bitcoin gallery, art museum, and workspaces.
Global interest in crypto-linked buildings continues to rise, with other projects such as a Bitcoin hotel chain by IKAR Holdings and the ambitious Satoshi Island, designed as a blockchain-based city, in the works. However, progress on some high-profile projects, like Akon City in Senegal, has slowed.
Arweave, a decentralised data storage company, has sent its ‘Genesis Block’ to the moon in collaboration with Iridia and LifeShup. The mission, announced on 15 January, involved launching encrypted data and cryptocurrencies aboard a space capsule using Iridia’s synthetic DNA-based storage technology and LifeShup’s lunar landing craft. The groundbreaking venture highlights the potential of permissionless networks like Arweave in pioneering new storage innovations.
Founded in 2017, Arweave aims to provide affordable permanent storage for global knowledge and history. The moon mission, which also included Artificial Super Intelligence Alliance tokens, is a step toward safeguarding digital assets and knowledge for future generations. The stable environment of the moon and advancements in nanotechnology will help preserve this data for millennia, according to the companies involved.
Sam Williams, Arweave’s CEO, expressed excitement about the collaboration, which underscores the growing capabilities of decentralised storage networks, while Iridia’s VP, Buck Watia, highlighted the mission’s significance in preserving information beyond time and space.
Indonesia is making waves in the global Web3 revolution with its rapid adoption of cryptocurrency and a young, tech-savvy population. Ranked third in the Chainalysis Global Crypto Adoption Index, Indonesia recorded 157 billion dollars in crypto inflows between 2023 and 2024. With nearly 200% year-on-year market growth, the country’s decentralised exchange transactions surpass global averages, reflecting the population’s enthusiasm for digital assets.
The Indonesian government’s support has been a key driver of this growth. Cryptocurrencies were recently reclassified as digital financial assets, a move expected to enhance transparency and investor protection under the Financial Services Authority’s oversight. Meanwhile, crypto is reshaping sectors like e-commerce and remittances, saving Indonesians millions yearly and boosting financial accessibility.
Despite its impressive rise, challenges remain. With less than 8% of the population actively using crypto, significant room exists for growth. Addressing cultural and ethical considerations, including Shariah-compliant financial tools and education initiatives, could unlock this potential. By embracing tailored solutions and fostering partnerships between blockchain and traditional finance, Indonesia is poised to cement its leadership in the Web3 economy.
Polymarket, a cryptocurrency-based prediction market, has come under fire for alleged violations of Singapore’s strict gambling laws. Authorities blocked access to the platform, deeming it an unlicensed gambling site. Those who attempt to bypass restrictions risk hefty fines and jail time under the Gambling Control Act 2022.
Further criticism erupted as Polymarket allowed users to bet on tragic events like the devastating Palisades wildfire in Los Angeles. The platform’s wildfire-related betting markets have been widely condemned as unethical, with accusations of profiting from human suffering. Polymarket’s attempts to defend its actions have done little to appease public outrage.
Meanwhile, Polymarket faces intense scrutiny in the US. The FBI recently raided CEO Shayne Coplan’s residence, seizing electronic devices, while the CFTC subpoenaed Coinbase for information on the platform’s activities. Despite its rapid growth during the US elections, with record-breaking trading volumes, Polymarket now grapples with plummeting activity and mounting regulatory challenges.
