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Web3 game education platform PiP World completes $10 million seed round financing

ChainCatcher news, according to CoinDesk, the Web3 gaming and edtech ecosystem PiP World has announced the completion of a $10 million seed round financing, with the investor being the fintech company Exinity. PiP World plans to use this funding to create "Duolingo for the cryptocurrency space."According to the press release, the PiP World ecosystem combines gameplay with personalized learning and includes several products: PiP Trader (a AAA strategy management simulator game for building trading portfolios), Gold Rush (a click-to-earn game on the Telegram platform), PiP Academy (a gamified application that simplifies financial concepts), and StockRise (a stock simulator).The platform aims to help global users better understand and engage with cryptocurrency and financial markets through fun gaming experiences and personalized learning approaches. PiP World founder and CEO Saad Naja stated that this financing will help the company expand its product offerings and reach more global users, especially in emerging markets where financial tools and knowledge are scarce.Additionally, the Web3 asset data platform RootData shows that PiP World is a Web3 gaming and edtech ecosystem designed to make financial market education fun, engaging, and easy to understand. It has launched a game called Gold Rush on Telegram, providing players with meaningful financial education while incorporating fun and addictive gaming experiences that simulate the excitement of cryptocurrency trading, while also creating a strategic foundation for real trading in the cryptocurrency market.

Blockchain Association and DeFi Education Fund: The SEC's consolidated audit tracking has privacy issues

ChainCatcher news, according to The Block, the Blockchain Association and the DeFi Education Fund have stated that the new database operated by the U.S. Securities and Exchange Commission raises privacy concerns for millions of people and could potentially trap digital assets.After the financial crisis, the SEC passed Rule 613 in 2012, requiring national securities exchanges and the Financial Industry Regulatory Authority to maintain a Consolidated Audit Trail (CAT). Former SEC Chairman Jay Clayton stated in 2017 that the goal was to allow regulators to oversee the securities market in a "comprehensive" manner. According to the Securities Industry and Financial Markets Association, the consolidated audit trail is set to be fully operational by the end of May 2024.This 351-page rule does not explicitly mention digital assets, but both cryptocurrency organizations have indicated that the SEC considers many cryptocurrency participants to be exchanges or brokers, and therefore they must report information to the CAT. In a friend-of-the-court brief submitted on Thursday, the organizations stated that the CAT would turn "the blockchain into a massive and fully de-anonymized repository that the government can search at will, without having to show any reason to obtain a search warrant." They noted in the brief, "Due to the nature of blockchain technology, even accessing a seemingly limited identity record can unlock a vast amount of irrelevant financial transactions that the user has conducted in the past, present, and future, all of which will be subject to scrutiny by the federal government and numerous private entities."
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