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BIS introduces 7-step blockchain-based #cryptocurrency security framework #CBDCs
The new BIS Polaris framework will assist central banks in creating and implementing a mechanism to maintain the security of CBDCs, particularly those utilising #blockchain.
The seven steps of the Polaris #framework are: Prepare, Identify, Protect, Detect, Respond, Recover, and Adapt.
The new BIS Polaris framework will assist central banks in creating and implementing a mechanism to maintain the security of CBDCs, particularly those utilising #blockchain.
The seven steps of the Polaris #framework are: Prepare, Identify, Protect, Detect, Respond, Recover, and Adapt.
BIS introduces 7-step blockchain-based #cryptocurrency security framework #CBDCs
The new BIS Polaris framework will assist central banks in creating and implementing a mechanism to maintain the security of CBDCs, particularly those utilising #blockchain.
The seven steps of the Polaris #framework are: Prepare, Identify, Protect, Detect, Respond, Recover, and Adapt.
The new BIS Polaris framework will assist central banks in creating and implementing a mechanism to maintain the security of CBDCs, particularly those utilising #blockchain.
The seven steps of the Polaris #framework are: Prepare, Identify, Protect, Detect, Respond, Recover, and Adapt.
- **MiCA Introduces Unified Regulatory Framework**: Verena Ross, #Chairman of the European Securities and Markets Authority, highlighted the introduction of the Markets in Crypto-assets (MiCA) framework in the EU. MiCA aims to establish a consistent regulatory #framework for #cryptoassets not covered by existing financial services regulations.
- **Replacing Heterogeneous System**: MiCA aims to replace the current diverse regulatory landscape across EU member countries with a more standardized and mature set of regulations, providing clarity for businesses and investors.
- **Key Provisions**: MiCA targets entities involved in issuing cryptoassets, providing cryptoasset trading, #investment advice, custody services, and more. It outlines authorization and governance requirements for crypto asset service providers, disclosure requirements for #crypto products, and measures to uphold the integrity of the crypto market.
- **Consumer Protection and Market Integrity**: The framework is designed to enhance consumer protection, market integrity, and financial stability. It sets standards to ensure that crypto assets are offered and traded in a secure and transparent environment.
- **Important Caveat for Consumers**: While MiCA brings regulatory clarity and safeguards, it's important to note that crypto assets do not carry the same protections as traditional financial products. Consumers should understand that no crypto asset is inherently "safe," and due diligence is necessary before investing or engaging with such assets.
MiCA represents a significant step toward establishing a more structured and secure environment for crypto assets within the EU, addressing regulatory gaps and bolstering consumer confidence.
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- **Replacing Heterogeneous System**: MiCA aims to replace the current diverse regulatory landscape across EU member countries with a more standardized and mature set of regulations, providing clarity for businesses and investors.
- **Key Provisions**: MiCA targets entities involved in issuing cryptoassets, providing cryptoasset trading, #investment advice, custody services, and more. It outlines authorization and governance requirements for crypto asset service providers, disclosure requirements for #crypto products, and measures to uphold the integrity of the crypto market.
- **Consumer Protection and Market Integrity**: The framework is designed to enhance consumer protection, market integrity, and financial stability. It sets standards to ensure that crypto assets are offered and traded in a secure and transparent environment.
- **Important Caveat for Consumers**: While MiCA brings regulatory clarity and safeguards, it's important to note that crypto assets do not carry the same protections as traditional financial products. Consumers should understand that no crypto asset is inherently "safe," and due diligence is necessary before investing or engaging with such assets.
MiCA represents a significant step toward establishing a more structured and secure environment for crypto assets within the EU, addressing regulatory gaps and bolstering consumer confidence.
$BTC $ETH $BNB
#Glassnode and #ARKInvest Collaborate on New #Bitcoin Economic Analysis Framework.
Here's a succinct summary in key points:
- Glassnode introduces Cointime Economics, a new framework.
- Developed with ARKInvest, it analyzes the Bitcoin economy.
- The #framework includes over 30 new indicators and tools.
- It #enhances valuation and pricing models for traditional on-chain analysis.
- Cointime Economics aims to validate and refine existing analysis methods.
Here's a succinct summary in key points:
- Glassnode introduces Cointime Economics, a new framework.
- Developed with ARKInvest, it analyzes the Bitcoin economy.
- The #framework includes over 30 new indicators and tools.
- It #enhances valuation and pricing models for traditional on-chain analysis.
- Cointime Economics aims to validate and refine existing analysis methods.
U.S. Representatives Urge SEC Chairman to Collaborate on Cryptocurrency Regulation!
In a noteworthy move, Representatives French Hill and Dusty Johnson have jointly penned a compelling letter addressed to Gary Gensler, the Chairman of the Securities and Exchange Commission (SEC), advocating for a collaborative effort between the SEC and Congress to establish a comprehensive regulatory framework for cryptocurrencies. The representatives express concerns about the current approach to enforcement and regulation in the digital asset realm, highlighting the confusion and uncertainty it has caused among investors and industry stakeholders.
Regulatory Gaps and Legislative Efforts:
Representatives Hill and Johnson, serving on the House Financial Services Committee and the House Agriculture Committee, respectively, emphasize their commitment to addressing regulatory gaps in the U.S. digital asset market. They outline their past four years of endeavors, including holding hearings, introducing bills, and crafting a comprehensive draft proposal that delineates powers between the SEC and the Commodity Futures Trading Commission (CFTC). These legislative efforts aim to bolster consumer protections and provide clarity for market participants. #framework
Proactive Approach over Reactive Enforcement:
The representatives argue that a proactive legislative approach is crucial for the digital asset industry. They assert that relying solely on enforcement actions after harm has occurred is insufficient, and a comprehensive regulatory framework is needed to prevent such harm. They believe that their proposed legislation would enhance consumer protections and offer much-needed clarity, fostering a safer and more stable market environment. #GaryGensler
Concerns about Political Influence:
Expressing concerns, the representatives accuse the SEC of suspiciously synchronizing its actions with Congressional activities, raising doubts about the regulator's intentions and suspicions of undue political interference. This alignment has triggered apprehension among the representatives and emphasizes the need for an open and collaborative relationship between regulatory bodies and lawmakers. #regulations #digitalassets $BTC
Call to Action:
In conclusion, the letter serves as a passionate call to action, urging Chairman Gary Gensler and the SEC to collaborate openly with Congress. The representatives envision a harmonious effort between regulatory bodies and lawmakers that would result in a well-defined and robust regulatory framework for cryptocurrencies. Such collaboration is expected to protect consumers, foster innovation, and promote sustainable growth within the burgeoning digital asset space. #SEC
Regulatory Gaps and Legislative Efforts:
Representatives Hill and Johnson, serving on the House Financial Services Committee and the House Agriculture Committee, respectively, emphasize their commitment to addressing regulatory gaps in the U.S. digital asset market. They outline their past four years of endeavors, including holding hearings, introducing bills, and crafting a comprehensive draft proposal that delineates powers between the SEC and the Commodity Futures Trading Commission (CFTC). These legislative efforts aim to bolster consumer protections and provide clarity for market participants. #framework
Proactive Approach over Reactive Enforcement:
The representatives argue that a proactive legislative approach is crucial for the digital asset industry. They assert that relying solely on enforcement actions after harm has occurred is insufficient, and a comprehensive regulatory framework is needed to prevent such harm. They believe that their proposed legislation would enhance consumer protections and offer much-needed clarity, fostering a safer and more stable market environment. #GaryGensler
Concerns about Political Influence:
Expressing concerns, the representatives accuse the SEC of suspiciously synchronizing its actions with Congressional activities, raising doubts about the regulator's intentions and suspicions of undue political interference. This alignment has triggered apprehension among the representatives and emphasizes the need for an open and collaborative relationship between regulatory bodies and lawmakers. #regulations #digitalassets $BTC
Call to Action:
In conclusion, the letter serves as a passionate call to action, urging Chairman Gary Gensler and the SEC to collaborate openly with Congress. The representatives envision a harmonious effort between regulatory bodies and lawmakers that would result in a well-defined and robust regulatory framework for cryptocurrencies. Such collaboration is expected to protect consumers, foster innovation, and promote sustainable growth within the burgeoning digital asset space. #SEC
- Indian Prime Minister Narendra Modi emphasized the need for a global framework and regulations for cryptocurrencies.
- In an interview with Business Today, Modi acknowledged the rapid technological changes and emphasized the importance of adopting, democratizing, and taking a unified approach to emerging technologies.
- Modi highlighted that regulations and frameworks for technologies like cryptocurrencies should not be limited to one country or group of countries.
- He proposed the idea of a global consensus-based model for regulations, drawing parallels to the aviation industry where common global rules and regulations are in place.
- India, currently holding the G20 presidency, has been actively involved in shaping the conversation around cryptocurrency regulation beyond just financial stability, considering broader macroeconomic implications, especially for emerging markets and developing economies.
- The #G20 , under India's presidency, achieved a consensus on these matters, guiding standard-setting bodies accordingly, and hosted discussions and seminars to deepen insights into crypto assets.
- #India has released a "Presidency Note" to contribute to the establishment of a global framework for crypto assets.
- The Financial Stability Board (FSB) proposed guidelines for a #global regulatory #framework for crypto assets, and the G20 finance ministers and central bank governors have previously agreed that crypto regulation requires global policy responses.
- In an interview with Business Today, Modi acknowledged the rapid technological changes and emphasized the importance of adopting, democratizing, and taking a unified approach to emerging technologies.
- Modi highlighted that regulations and frameworks for technologies like cryptocurrencies should not be limited to one country or group of countries.
- He proposed the idea of a global consensus-based model for regulations, drawing parallels to the aviation industry where common global rules and regulations are in place.
- India, currently holding the G20 presidency, has been actively involved in shaping the conversation around cryptocurrency regulation beyond just financial stability, considering broader macroeconomic implications, especially for emerging markets and developing economies.
- The #G20 , under India's presidency, achieved a consensus on these matters, guiding standard-setting bodies accordingly, and hosted discussions and seminars to deepen insights into crypto assets.
- #India has released a "Presidency Note" to contribute to the establishment of a global framework for crypto assets.
- The Financial Stability Board (FSB) proposed guidelines for a #global regulatory #framework for crypto assets, and the G20 finance ministers and central bank governors have previously agreed that crypto regulation requires global policy responses.
