Coinbase News: PwC and SKChain Advisors Launch Blockchain-Based Identity Solution for the EU

In a significant development for blockchain technology in the financial sector, PwC Italy has collaborated with SKChain Advisors to introduce a blockchain-powered identity solution tailored for the European Union. Here’s a closer look at this groundbreaking initiative.

PwC and SKChain Advisors Unveil Blockchain-Powered Identity Solution for the EU

PwC Italy has partnered with blockchain consultancy SKChain Advisors to create an identity solution for the European Union based on blockchain technology. The solution aligns with the European Digital Identity Wallet (EUDI Wallet) requirements as outlined in the eIDAS 2.0 regulation. It builds a secure self-sovereign identity (SSI) framework, enabling users to manage their personal information independently of centralized governance entities. The World Mobile Chain, operating as a Layer 3 protocol on Coinbase’s Base network, serves as the platform for this solution, providing secure and regulatory-compliant access to European enterprises and consumers. Users will gain improved access to Web3 and traditional services through this initiative.

Coinbase CLO Pushes for Tornado Cash Sanction Removal

Coinbase’s Chief Legal Officer, Paul Grewal, is advocating for the finalization of the Tornado Cash sanction removal following an update from the Treasury Department’s SDN. Grewal accused the Treasury Department of attempting to bypass the court’s legal ruling and revealed that the announcement of the lifting of sanctions contains an illegal moot clause, which does not align with legal precedence and fails to prevent future sanctions. Grewal shared his thoughts on social media, calling for the district court to grant the plaintiffs’ motion for partial summary judgment.