• Commerzbank receives a license to custody crypto assets to provide services to institutional clientsIt is the first bank in the country to receive such a licenseCommerzbank – the fourth-largest bank in Germany – announced it received a crypto custody license, earlier today. Notably, it is the first full-service bank to gain such a license in a European country. Additionally, the bank seeks to provide crypto custody support to its institutional clients now that it has secured a license.“Commerzbank is the first German full-service bank to be granted the Crypto Custody Licence pursuant to Article 1 Section 1a Sentence 1 No 6 German Banking Act (KWG). The licence will enable the Bank to build up a broad range of digital asset services, with particular emphasis on crypto assets.”European Union mulls over stablecoin liquidityNotably, Germany’s leading bank received a green light when the European Union is set to implement one of the most comprehensive crypto rules. The Markets in Crypto Assets regulation (MiCA), which will go into effect this coming year, has gained praise from several leaders including France’s Finance Minster Bruno Le Maire. The minister claimed that the new regulation would “put an end to the crypto wild west”.The new rules, adopted by 27 countries, will mandate crypto companies to have secured authorization in at least one of the 27 countries to provide services. Additionally, companies will have to start publishing a clear white paper on the offered crypto assets.Furthermore, MiCA also has dedicated rules for stablecoins, which will be dubbed e-money tokens (EMTs), if it is pegged to fiat currency. Additionally, the rules will also ban EMTs, which are not pegged to EU currency, from having over 1 million transactions per day. This rule also extends to algo-stablecoins.With this in place, the EU is currently mulling over the liquidity requirement for stablecoins. A draft published by the European Banking Authority (EBA) seeks periodic liquidity stress requirements for large stablecoins, along with liquidity requirements for reserve assets. The press release said,“In the RTS on liquidity requirements of the reserve of assets the EBA proposes minimum percentage rates of the reserve of assets with a maturity of no longer than between 1 and 5 working days. Furthermore, the EBA proposes overall techniques for liquidity management of the reserve of assets. This includes minimum creditworthiness and liquidity soundness of credit institutions#BTC #CryptoMarketDynamics

Attorney Jeremy Hogan, partner at Hogan & Hogan and one of the most vocal pro-crypto lawyers on X, recently hailed the growth of his XRP holdings.
Read more on: https://thecryptobasic.com/2023/11/20/pro-xrp-lawyer-celebrates-massive-xrp-portfolio-growth/
#XRPUpdate #XRPSurge #Crypto #CryptoMarketDynamics #CryptoNews🔒📰🚫

Data shows that the XRP Ledger (XRPL), the blockchain powering the XRP ecosystem, is now home to over 1,500 crypto projects.
Read more on: https://thecryptobasic.com/2023/11/21/over-1500-projects-now-in-the-xrpl-ecosystem-with-multiple-use-cases/
#XRPL #XRPLUpgrade #crypto #CryptoMarketDynamics #CryptoNews🔒📰🚫

The cryptocurrency industry bloomed in 2021 and received significant credibility this year. It is a sector that can no longer be ignored in terms of potential and innovation. However, with rising interest and demand, many fraudulent practices have also surfaced to take advantage of novice investors.At press time, there are more than 11,500 digital assets in the market, and not all of them are worth considering from an investment perspective. To tackle such a situation Simply is bringing forward an analysis platform that will allow investors to identify the crypto projects with huge upside potential and market credibility.What is Simply?Simply is a project that is determined to provide transparent and valid information about a cryptocurrency project to its investors. Its objective is in-line with the promotion of credible cryptocurrency pre-sales, which limits the chances of illicit and scam protocols. The analysis platform ensures that the new and emerging investor class are well educated and they understand the concepts related to the crypto economy. Their whitepaper stated,“As a crypto community, we must take care of ourselves and protect this great digital economic revolution worldwide, and it is for this reason that we have created Simply.”Simply believes that it is formulating a tool that will allow investors to start investing with more information, and therefore protecting both the asset class and individual involved.What can the userbase expect?Simply will provide a high-level reporting service for its userbase, and they will be able to look into pre-sale options which involve tokens younger than 6-months old. The reports will be offered to all visitors, but they are only a limited number of free reports per week. The premium users will be the ones eligible for unlimited access to all reports on the platform. Simply mentioned,“In addition to the high-level report that we will deliver, will have a deep analysis and interpretation of their technological contract, as well as an article of aninterview with the project developers, which will allow those users who read the premium report to understand more about these projects, in addition to the mindset and experience of the developers in charge.”Simply TokenomicsSimply token will largely benefit its holders from the tokenomics level. The platform has a 3% TAX reward for holders, which is for holding. Hence, they will be receiving free tokens from 3% of each transaction that is taking place with Simply tokens. A proper breakdown of the tokenomics is listed below:Symbol: SIMPLYContract: 0x500dd87DECC43dD9cCFa66343A1EbFA9F99b9dF4Total Supply: 100,000,000Burned atlaunch: 50,000,000Each transaction pays a distributed tax:RewardstoHolders: 3%Liquidity Pool: 3%Project andMarketingWallet: 4%Slippage: 10%Final wordsOverall, Simply is trying to establish itself as a platform that can be trusted by a large group of investors to identify projects with strong market value and potential. In addition to that, Simply platform will be launched in under two weeks, and every person who registers on their website will receive a premium account on our platform for free.For more information, please visit their official site.#CryptoMarketDynamics #dyor

The AI token market has entered a bullish course following confirmation that Sam Altman, the previously ousted CEO of OpenAI, will be reinstated to lead the AI-focused research firm.
Read more on: https://thecryptobasic.com/2023/11/22/crypto-ai-token-market-spike-11-65-to-9-3b-as-sam-altman-confirms-returning-as-openai-ceo/
#Crypto #CryptoMarketDynamics #CryptoTreasure #CryptoNews🔒📰🚫 #Cryptonews230