As of writing, Bitcoin was trading near $19,180.<\/p>\n Top-10 crypto assets by market cap closed the week with mixed results. The best performers were Ethereum (+3%) and Dogecoin (+1.3%). The laggards were XRP (-5.4%) and Solana (-5.1%).<\/p>\n The total market capitalization stood at $959.63 billion. Bitcoin\u2019s dominance index remained unchanged at 38.4%.<\/p>\n The Kraken cryptocurrency exchange banned<\/a> users in Russia from registering accounts and restricted accounts based in Russia<\/a>. The company said it complies with legal and regulatory requirements in all jurisdictions where it operates. The measures come amid the European Union\u2019s eighth sanctions package.<\/p>\n The NFT-focused project Dapper Labs stated<\/a> that it will allow Russians to withdraw collectible tokens, but under a set of conditions.<\/p>\n The company explained that on 7 October it imposed restrictions on Russian citizens in response to a directive from Circle, the issuer of USDC. Circle is a partner of Dapper for processing payments and custody of assets.<\/p>\n On 17 October the Aptos Labs team announced the launch of the mainnet. The protocol uses the Move programming language, developed by Meta for the closed Diem project. The network is pitched as another competitor to Ethereum.<\/p>\n Leading platforms immediately listed<\/a> the native token APT. However, the community raised concerns about low throughput and the project\u2019s tokenomics, specifically centralisation of assets among investors through private token sales.<\/p>\n On the following day the project team unveiled<\/a> details of the tokenomics. At the same time, among early testers of the network conducted<\/a> an APT airdrop. The Aptos ecosystem gained new partnerships \u2014 LayerZero Labs announced<\/a> the launch of the cross-chain bridge Aptos Bridge, and the DEX Pancakeswap put to a community vote<\/a> the proposal to deploy the protocol on the new blockchain.<\/p>\n The European Commission stated<\/a> that EU member states should prepare to suspend cryptocurrency mining, \u201cif there is a need to relieve load on electricity systems.\u201d The EC also proposed creating a rating system for cryptocurrencies in the context of the environmental impact of their mining.<\/p>\n The payments giant Mastercard, in partnership with Paxos, will act as an intermediary for traditional financial institutions in launching cryptocurrency trading. Mastercard will provide<\/a> the necessary level of security and regulatory compliance (AML\/KYC). Product testing is planned for the first quarter of 2023.<\/p>\n Ripple received<\/a> internal documents from the U.S. Securities and Exchange Commission regarding remarks by former director of the regulator\u2019s corporate finance division, William H. Hinman. They are expected to shed light on asset-class criteria and bring the company closer to victory in the lawsuit.<\/p>\n Also this week, XRP Ledger developers began testing<\/a> an EVM-compatible sidechain designed to extend the network\u2019s smart-contract capabilities and enable DeFi applications.<\/p>\n For now, interactions with the sidechain are possible only on the Devnet test network. A mainnet launch is planned for the second quarter of 2023.<\/p>\n The financial regulator and the Texas attorney general intend to block the purchase of Voyager Digital assets by FTX US. The company and its chief, Sam Bankman-Fried, are suspected of violating securities laws.<\/p>\n Regulators are interested in the exchange\u2019s interest-bearing products that appear to have the characteristics of investment contracts. Voyager offered similar services.<\/p>\n This week it also emerged that FTX US proposed returning 72% of frozen customer funds.<\/p>\n The MetaMask team presented<\/a> a beta version of an SDK designed to simplify the integration of decentralized applications with a non-custodial wallet. At this initial stage the toolkit supports JavaScript, including the React library and the cross\u2011platform React Native framework.<\/p>\n The head of FTX believes<\/a> that regulation of the crypto industry is inevitable. One of the core points, he said, is ensuring compliance with sanction regimes and creating a \u201creliable list of addresses\u201d under a centralized regulator like OFAC.<\/p>\n He also added that FTX US intends to apply the Howey test to assets under consideration for listing to assess whether they are securities. Ideally, in Bankman-Fried\u2019s view, the crypto industry should be a place where the designation of a security is not viewed as a bad thing.<\/p>\n The Germany-based fintech Nuri (formerly Bitwala), focused on cryptocurrencies, will wind down at the end of November after a failed funding round. About 500,000 customers have been advised to withdraw their funds by 18 December.<\/p>\n In the first half of 2023, Brazil\u2019s largest neobank Nubank, in partnership with Polygon, will launch its own digital currency Nucoin. The initiative is a new way to expand the loyalty programme. The token will be distributed free among 70 million customers, and will offer discounts on the company\u2019s products and other privileges.<\/p>\n Germany\u2019s neobank N26 will in the coming months add the ability to trade around 200 digital assets in its app. The company will use the Bitpanda solution from the Austrian crypto exchange under its own brand.<\/p>\n The largest Solana-based NFT platform \u2014 Magic Eden \u2014 announced<\/a> a move to an optional royalty model, following the x2y2 trend. Users will now determine the level of payments to creators when reselling non-fungible tokens.<\/p>\n In addition, Magic Eden announced a hackathon to develop alternative monetisation tools for the project with a prize pool of up to $1 million.<\/p>\n Also on ForkLog:<\/p>\n Maximum extractable value (MEV) did not disappear after Ethereum\u2019s biggest update The Merge and the shift of the second-largest cryptocurrency to proof-of-stake. A modified MEV-Boost system has emerged, adapted to this algorithm.<\/p>\n ForkLog has examined<\/a> the features of the new solution, its uptake and its impact on the market.<\/p>\n ForkLog AI found out<\/a> which AI algorithms are used for image generation and whether such systems could replace artists.<\/p>\n In new educational cards they explained, what is cryptocurrency<\/a> and why the crypto community is wary of scrapping the Bretton Woods monetary system.<\/p>\n They described, what long and short mean<\/a>, how the StarkNet blockchain<\/a> works and why the fees on Ethereum are so high. They also looked at<\/a> five free AI image-generation services.<\/p>\n In traditional digests, ForkLog gathered the week\u2019s key events in cybersecurity and artificial intelligence (AI).<\/p>\n The DeFi sector continues to attract heightened attention from crypto investors. ForkLog has compiled the most important developments in a digest.<\/p>\n![\"Weekly](\"https:\/\/forklog.com\/wp-content\/uploads\/BTCUSDT_2022-10-23_19-53-10-1024x467.png\")
![\"Weekly](\"https:\/\/forklog.com\/wp-content\/uploads\/top10-45-1024x524.png\")
Sanctions on Russia tighten<\/h2>\n
Aptos developers announce the launch of the project’s mainnet<\/h2>\n
European Commission warns of possible mining suspensions in the EU<\/h2>\n
Mastercard will provide banks with tools to access cryptocurrencies<\/h2>\n
Ripple received SEC court documents. XRP developers will launch an EVM-compatible sidechain<\/h2>\n
What to discuss with friends?<\/h2>\n
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FTX US suspected of violating securities laws<\/h2>\n
MetaMask team presents an SDK for integrating a wallet with dapps<\/strong><\/h2>\n
Sam Bankman-Fried on his vision for crypto regulation<\/h2>\n
German crypto bank Nuri to wind down in November. Nubank and N26 announce new initiatives<\/h2>\n
NFT marketplace Magic Eden ends mandatory royalties<\/h2>\n
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What else to read?<\/h2>\n