Search results for regulation

  • EXCLUSIVE: Mark Cuban On Purchasing Crypto, Its Regulation, Ethereum Merge And Why You Shouldn't Buy Metaverse Property

    Billionaire investor Mark Cuban has got opinions, with one purchasing digital currencies with genuine utility value, claiming that the price of tokens is the least significant and the least interesting component of cryptocurrencies. He also stated in an interview with Benzinga that regulation of cryptocurrencies should be "optional," with the possibility of a limited listing over-the-counter (OTC) and as Pink Sheets. Pink Sheet-listed companies are companies that are not listed on a major exchange such as the New York Stock Exchange (NYSE) or the Nasdaq. Pink Sheet-listed stocks trade over-the-counter, which means the stocks are traded through a broker-dealer network. Token Price Speculation Too High “I don't think anyone should speculate on tokens. I think they should look at what applications they use and buy tokens to use for those applications. There is far too much token speculation. The pricing of tokens is the least interesting and least important aspect of crypto," the billionaire Dallas Mavericks owner said. “Being able to do things that you can't do without crypto like smart contracts enabled apps like DeFi and NFTs and being able to buy carbon offsets or insurance and hopefully future impactful apps, are what makes tokens important,” he added. Cuban Seeks Regulations of Cryptos Under CFTC The avid crypto advocate also sought optional regulations of digital currencies, ideally by the Commodity Futures Trading Commission (CFTC). “There are tens of thousands of equities that have the option of possibly registering with the NYSE or NASDAQ or doing a minimal listing with OTC and Pink sheets. The same options should be available to tokens,” Cuban said. Replying to a query about his views on the future of the metaverse, Cuban said purchasing property in the metaverse was the "biggest mistake" anyone could make as there might be an infinite number of virtual worlds that would not be necessarily linked among themselves and there were no standards metaverses adhere to. “This means that it's relatively cheap to create an unlimited number of plots of lands across an unlimited number of metaverses across an unlimited number of blockchains,” he said. Current Market Rally Driven by Anticipation Over Ethereum Merge Ethereum (CRYPTO: ETH) is expected to transition from the energy-intensive, proof-of-work consensus to a more energy-efficient proof-of-stake mechanism, known as the Ethereum Merge, in the week of Sept. 19, after completing two testnets in advance of the event. Cuban said one of the probable explanations for the recent upswing in the cryptocurrency market is the anticipation around the Ethereum Merge. “People look for a lot of reasons to buy in a momentum-driven market. What the actual impact will be is unknown to everyone. It's a guess,” Cuban said. Ethereum Prices More Than Double From mid-June Lows The price of cryptocurrencies, especially Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH), have significantly recovered in July after falling as much as 75% from their all-time highs in November 2021. From their mid-June lows, Bitcoin and Ethereum have gained 36% and 102%, respectively. Photo: Kathy Hutchins via Shutterstock   © 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • Viktor Prokopenya, Founder Of Capital.com And Currency.com Voices Support For The New EU Agreement On Anti-Money Laundering Rules For Cryptocurrency Regulation

    Viktor Prokopenya, the founder and CEO of Capital.com and Currency.com, has voiced his support for the new EU Agreement on anti-money laundering rules for cryptocurrency regulation. The new agreement’s aim is to introduce an obligation for crypto asset service providers to collect and make accessible certain information about the originator and beneficiary of crypto asset transfers in operation. The Markets in Crypto-Assets Proposal (MiCA) The ’markets in crypto-assets’ (MiCA) proposal, will cover “issuers of unbacked crypto-assets, and so-called stablecoins” as well as the trading venues and the wallets where crypto-assets are held. The new agreement will enable the EU to deal with the risks of money laundering and terrorist financing linked to these new technologies while reconciling competitiveness, consumer, and investor protection, as well as the protection of financial integrity in the internal market. The regulation aims to harmonize rules regarding:     Disclosure and transparency for the issuance and trading of crypto-assets     Licensing and supervision of crypto-asset service providers     Operation, organization and governance of token issuers and crypto asset providers     Consumer protection Market abuse The regulation will also result in companies being more accountable for investor losses, with crypto companies having higher investor protection standards to adhere to. They may also be held liable in the case of losses of investor funds. MiCA mandates that stablecoin issuers have a presence in the EU and that they possess sufficiently liquid reserves. The regulation was originally introduced in 2020 and provides the first iteration of a sound legal framework for crypto-asset markets to develop within the EU. It provides a clear definition of the regulatory treatment of crypto-assets which are not covered by existing legislation on financial services. The aim of this is to support innovation and a competitive environment, as well as to prevent market manipulation, terrorist financing and other criminal activities. In the latest version of the legislative text, there is the differentiation between crypto assets in general, asset referenced tokens (ARTs) and e-money tokens primarily used for payments. The draft regulation also distinguishes between electronic money tokens and asset-referenced tokens with regard to who can issue both. The European Central Bank will have the capacity to authorize or refuse the issuance of tokens that threaten the financial stability of the EU or monetary sovereignty in the eurozone. The new rules come in the midst of bitcoin facing its worst quarter in more than a decade and is the first attempt at creating comprehensive regulation for digital assets in the EU. The move comes ahead of both the US and British decisions to roll out laws tailored to the market of cryptocurrencies. Although the initiative was incorporated in 2021, it took until March 2022 until new developments came to fruition with the European Parliament advancing a regulatory proposal. Currently, the UK’s FCA is following a different path to the MiCA regulation, aiming to license and regulate the industry fully as well as to regulate stablecoins which it considers to pose an “immediate risk to traditional payment methods”. It remains to be seen what regulation will be put in place with regard to Web3, as establishing regulation for DeFi and TradFi will follow a different approach to the regulation of cryptocurrencies. Prokopenya, a London-based technology entrepreneur who launched his investment company, VP Capital, after founding and selling his software development company Viaden Media, has significant experience in digital currency trading and financial technology. Capital.com is an international fintech company that implements AI in financial instruments online trading. The company was launched in 2016 and created the infrastructure for the cryptocurrency exchange Currency.com. “I have long supported regulation of crypto and fintech – this agreement represents an important advance for our industry. Transparency and responsible regulation is the future for our sector.” “Prokopenya was quick to welcome the regulation, which he says will help with the expansion of both of his businesses as users feel more confident about using the platforms. “We founded Capital.com with one simple idea in mind – there should be no barriers to financial trading. For too long now, finance, particularly trading, has been restricted to the elitist world of large institutions and city traders. “Fast-forward to today and a whole new generation of investors brought up on mobile technology and the internet has emerged promising to change the face of traditional investing forever. To give everyone the chance to learn to trade and invest for themselves we built a platform that was engaging, informative and simple to use. “We focused on three strategic enablers to achieve our goal - education, fair and transparent pricing and cutting-edge technology”. The areas of technology where VP Capital focuses its active investments – artificial intelligence, augmented reality, computer vision, fintech and blockchain – require a combination of particular and rare skills as well as a lot of processing power. A highly specialized and innovative technology space, it has high growth potential. Its focus for the upcoming year centers on the following three key strategic objectives:   Prioritising free and extensive education   Harnessing AI-powered technology to deliver a tailored experience   Prioritising fair and transparent pricing The democratization of finance Prokopenya hopes that Capital.com can achieve its objectives of catalyzing the democratization of finance and has been outspoken in his belief that people should remain optimistic on the future of digital currencies and the inevitable push toward the democratization of financial markets and financial participation. He stated: “Trading apps and platforms can play an essential role in assisting in the growth and development of financial literacy. This is something built into our approach at Capital.com, with educational tools embedded into our user experience. These tools can be vital in improving and expanding a trader's knowledge and importantly, their confidence. Our Investment App, or the in-app guides on concepts such as derivatives offers the opportunity to nurture our customer's skills. After all, a trader who takes the time to expand their understanding of how best to utilize leveraged trading could find it is the key to increased successes in the future.” About Viktor Prokopenya A serial IT entrepreneur and investor, Viktor is the founder of the investment firm VP Capital, focused on fintech and blockchain companies and on artificial intelligence and computer-vision specialists such as Banuba and Facemetrics. A trained lawyer, computer scientist, and a Doctor in Business Administration, Viktor is passionate about cutting-edge and innovative technologies. He has founded a number of technology businesses, grown them successfully, and subsequently sold them. Image sourced from Shutterstock  This post contains sponsored advertising content. This content is for informational purposes only and not intended to be investing advice. © 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • Crypto Flipsider News – Bitcoin Above $23k; AAVE to Launch Stablecoin; Ethereum Merge Delay; MineXMR Shuts Down; Crypto Regulations

    Click here to read our crypto digest. Continue reading Crypto Flipsider News – Bitcoin Above $23k; AAVE to Launch Stablecoin; Ethereum Merge Delay; MineXMR Shuts Down; Crypto Regulations at DailyCoin.com.

  • US and UK Regulators to Frame a Strengthened Crypto Regulation

    The US and UK regulators collaborated to enlarge cryptocurrency regulation. The Working Group wants to strengthen regulatory outcomes for stablecoins

  • Crypto Miners Get Leverage From Iran Regulation: Access To Renewable Power

    Each country focuses on crypto regulations, some have strengthened the rules but revising and making minor changes is constant. Similarly,

  • Will Regulation Navigate DeFi and NFTs To Go Mainstream?

    As per popular predictions, the NFT sector would attain $210 billion by 2030. Overall TVL of the DeFi sector is

  • India Still Waiting For Global Coordination on Crypto Regulation

    Indian government can track cryptocurrency movements thanks to the 1% transaction tax. RBI has advised the government to set laws

  • SEC’s Inflexible Demand for Crypto Regulation Lands In Criticism-Loop

    SEC recently alleged that 9 crypto assets listed by Coinbase are securities. SEC Chairman says, most crypto tokens have the

  • Thailand Plans To Implement Stricter Regulations On Crypto-Asset Platforms: Bloomberg

    After a bitcoin selloff saddled retail investors with significant losses and brought down businesses, Thailand aims to tighten supervision of digital asset companies, Bloomberg reported citing the country's top regulator. What happened: Most current rules governing digital assets were passed in 2018, but the Securities & Exchange Commission is looking to modify them, according to Secretary-General Ruenvadee Suwanmongkol. She stated, without getting into specifics, that proposals include stricter requirements for the management and licensing of cryptocurrency custodians. Related: Crypto Exchange Zipmex To Resume Withdrawals Why It's Important: "The extreme volatility of digital-asset prices has spurred the urgent need for improved supervision," Ruenvadee said in an interview. "Our main focus will be to provide more protection for small investors, some of whom are putting most of their savings into these assets." Plans to increase oversight come as one of the country's regulated cryptocurrency exchanges, Zipmex (Thailand) Ltd., and its regional parent this week stopped accepting withdrawals, joining other crypto companies in a liquidity crisis after the collapse of Celsius Network Ltd. and Three Arrows Capital. Also Read: More Pain Ahead For Ethereum? Celsius Crashes 55% As It Halts Withdrawals Over 'Extreme Market Conditions' © 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • Thai Crypto Regulations Hindering SCB’s Bitkub Stake Purchase

    SCB X Group postponed its plan to acquire a 51 percent stake in Thai crypto exchange Bitkub. This is due ...Read More...

  • EU, US swap policy intel on European crypto regulation, stablecoins

    The EU and the US swapped crypto policy insights on stablecoins and other issues during a joint financial forum in Brussels last week. Representatives from the two governments met as part of an EU–US Joint Financial Regulatory Forum from July 13-14, the US Treasury announced. Participants discussed the EU’s new Markets in Crypto-Assets Regulation (MiCA) […] The post EU, US swap policy intel on European crypto regulation, stablecoins appeared first on The Block.