Loading
Welcome at World Crypto Global. This portal is packed with useful content and resources to built out your own crypto skills. WorldCrypto is a site member of Gabriel Vega Network.
BitFlyer, a leading Japanese crypto asset exchange operator, announced the implementation of new regulations known as the travel rule, aimed at preventing criminal activities and enhancing security in the crypto industry. (Read More)
Japan has set out to make significant changes to its cryptocurrency rules. The ruling party has introduced a new framework under the Financial Instruments and Exchange Act. Japan’s Liberal Democratic Party (LDP) , which is the nation’s ruling political party, is advancing some significant regulations in regards to cryptocurrency. Japans Plan to Lower Crypto Taxes […]
The French oversight agency, National Commission on Informatics and Liberty (CNIL), has raised doubts about the legality of Worldcoin’s biometric data collection methods. Besides questioning the legitimacy of its data acquisition processes, CNIL is also delving into how this biometric data is stored. Notably, Worldcoin has collected this data for over two million registrants who [...]
The post Report: French Privacy Regulator Probes Worldcoin’s Biometric Data Practices appeared first on Crypto Breaking News.
Israel is now looking into decentralised autonomous organisations (DAOs) in its latest efforts to bring the digital assets industry under its watch. DAOs are blockchain-based organisations that operate based on rules coded into smart contracts. Uniswap, Augur and MakerDAO are top examples of such organizations.
Israel Eyes DAO Regulation
On Wednesday, the Israeli Ministry of Finance announced the appointment of a multi-agency team tasked with recommending rules for the regulation of DAOs. The team will look at various areas of DAO regulation, including corporate status determination and taxation.
Regulating this type of organization will help “to create legal certainty, reduce risk factors in activity conducted through DAOs and realise the potential for the Israeli economy,” the ministry explained.
As part of efforts towards DAO regulation, the ministry has called on academics, civil society organizations and other industry stakeholders to submit proposals on various areas pertinent to the regulation of DAOs. Specifically, the ministry wants the public to submit materials on the nature of DAOs, their benefits over traditional corporations, the major risks they pose, as well as advantages and threats to the Israeli economy.
Additionally, the ministry is calling for submissions related to registration requirements for recognizing DAOs as legal entities, minority holder protection, application of existing financial rules to DAOs, and money laundering risks posed by DAO activities. The public has until September 9, 2023, to put forward their recommendations, the ministry noted.
Crypto Regulation in Israel
In recent years, Israel has sought to regulate the digital assets industry. Earlier this month, Israeli lawmakers conducted a preliminary reading for a new bill that proposes the exemption of foreigners from capital gains taxes; that is, taxes on profit made from their cryptocurrency activities.
In March, the Bank of Israel proposed rules for permitting stablecoin use in the country while managing risks and protecting investors. The apex monetary authority also called for public comments on the proposals.
A month earlier, the Israel Securities Authority (ISA) also published a proposal calling for an amendment to the applicability of the country’s securities laws to cryptocurrencies. The securities watchdog noted that while cryptocurrencies serve as a financial investment, they are not included in definitions found in the country’s laws.
Since August 2017, Israel has created a least three crypto-related committees to look into various areas of crypto regulation and adoption in the country. The first committee, which was established in August 2017, called for a balance between encouraging technological innovation and preserving the interests of the investing public.
Furthermore, while the second committee worked on rules for promoting and establishing rules for the digital asset markets in Israel, the third committee examined the ISA’s policy on investment products in digital assets.
Meanwhile, Israel is not missing in the global race towards a central bank digital currency (CBDC) launch. However, Finance Magnates reported that the Western Asia nation has tied the launch of its CBDC, the digital shekel, to similar moves by global economies such as the United States and the European Union.
DXtrade Teams Up with Acuity; Firm of Tickmill’s CEO Invest €3.5M; read today's news nuggets.
This article was written by Solomon Oladipupo at www.financemagnates.com.
China’s oldest credit rating agency, Chengxin International Credit Rating (CCXI), made headlines this week by downgrading the United States’ credit rating. The agency lowered the rating from AAAg to AAg+ and attributed this decision to the escalating political discord, rising inflation, and the ongoing impasse over the debt ceiling. U.S. Credit Rating Suffers Downgrade by [...]
The post China’s Credit Agency Downgrades US Credit Rating Over Debt-Ceiling Standoff and Looming Default appeared first on Crypto Breaking News.
In contrast to the regulatory stance taken by the U.S. Securities and Exchange Commission (SEC), the Commodity Futures Trading Supervisory Agency (CFTSA) of the Republic of Indonesia has officially labeled 501 cryptocurrencies as commodities. The list of these digital assets includes popular tokens such as bitcoin, ethereum, usd coin, litecoin, and several others that the [...]
The post Indonesia Labels 501 Cryptocurrencies as Commodities, Paving the Way for Regional Adoption appeared first on Crypto Breaking News.
In a significant development, Japan’s National Tax Agency made a remarkable move by reviewing its corporate tax guidelines. The most important aspect is the exemption [...]
Roughly ten days ago, the credit agency Moody’s Investors Service downgraded the U.S. banking sector from “stable” to “negative.” In a recent update on Thursday, the company stated that there is still a risk to the U.S. economy. The managing director of credit strategy at Moody’s explained that the country “will be unable to curtail [...]
The post Moody’s Warns of Potential Financial Disruption Spillover Beyond US Banking Sector appeared first on Crypto Breaking News.
Despite stepping down as CEO three years ago, Yuzo Kano has continued to have a significant influence on the company, given he’s the Japan-based crypto exchange’s largest stakeholder.
The Financial Services Agency of Japan confirmed it would lift the ban on the domestic use of foreign stablecoins.
Continue reading What Japan’s Adjusted Regulations Mean for Stablecoins at DailyCoin.com.
The country has declared transactions using digital technology illegal because these are not recognized as monetary instruments.
The post Nepal Tells Internet Providers: Block Crypto-Related Websites, Apps appeared first on BitPinas.
PROOF Co-founder Kevin Rose announced the deal via Twitter on Jan. 6, noting that the aim is to get the Moonbirds brand recognized on a global scale and not just in the Web3 space.
The United Kingdom’s next prime minister is Rishi Sunak. Sunak supports bitcoin and wants to turn the UK into a major center for it. In the midst of this, UK MPs have decided to accept cryptocurrencies as regulated goods and financial instruments. Recently, the UK’s HM Revenue and Customs [HMRC] Department published a series of […]
The FSA is seeking public feedback on the draft regulation that will allow Japanese exchanges to enable stablecoin trading.
The post Japan Considers Lifting Restrictions on Foreign Stablecoins After Ban appeared first on BitPinas.
Under the plan, the blockchain-powered ID would be fully decentralized, meaning the government won't be able to see how or when the ID is being used.
Do the Cool Cats still have Blue Chip status? The collection fell on hard times lately, but so has any other NFT project out there. We’re in a bear market, after all. A Hollywood agency manages the Cool Cats project, they had the coolest exhibit in NFT NYC, and collaborated with TIME magazine in a weird NFT drop. Still, the collection’s floor price is down to levels not seen since the project’s conception. Related Reading: Blue Chip NFTs 101 – What’s The Secret Behind CloneX? Built For The Metaverse The Cool Cats started spreading good vibes in July 2021. It’s a PFP collection consisting of 9.999 unique cats assembled from various traits that formed 300K possibilities total. The ecosystem expanded in two major ways lately. They launched their secondary collection, the Cool Pets, and their own token, $MILK. The new coin is the blood of the gamified experience that the collection’s creators have been releasing. pic.twitter.com/GcpXtb5Vt8 — Mike Tyson (@MikeTyson) July 9, 2021 Speaking about those, the core team are: the smart contract programmer Tom Williamson, web developer Rob Mehew, creative director Evan Luza, and illustrator Colin Egan AKA The Cartoonist. The unofficial fifth member of the band is Mike Tyson. The eternal heavyweight champion changed his Twitter profile picture to a Cool Cats and that propelled the collection when it needed it the most. The Relationship Between Cool Cats And CAA The Cool Cats went Hollywood on March 2021. In a move unprecedented at the time, the creators signed with leading talent agency CAA. In a press release from the time, the partners explained the deal in detail: “Leading entertainment and sports agency Creative Artists Agency (CAA) has signed Cool Cats, producers of the widely known Cool Cats and Cool Pets NFT collections. In collaboration with the gamified NFT company, the agency will identify and create opportunities for Cool Cats characters across an array of areas, including licensing and merchandising, animated content, brand partnerships, live events, publishing, and more.” So, there’s serious money and interests behind the cats. Why are they fading away into the background, then? Is it just an effect of the bear market? BTC price chart on Bitbay | Source: BTC/USD on TradingView.com Cool Cats ’ got utility First of all, Cool Cats holders get their NFT’s property rights. That means, they can produce commercial projects with their NFT’s images. Cool Cat owners also get access to the project’s Discord server, and priority for all of the exclusive Cool Cats events and mints. Holders can stack their NFTs and get yield in $MILK. Another benefit is access to Cooltopia, a project they define as “a gamified ecosystem built on interactivity and utility, community rewards and growth, collaboration with brands, and much more.” Another self-definition has Cooltopia as a “place where having a Cool Cats NFT grants you evolving access to games, tokens, community events, collaborations, and more.” Plus, there’s the Cool Pets side project. A reward to NFT holders and a way for newcomers to enter the ecosystem at a lower price point. The Cool Pets collection has 19,999 units. Every holder got a pet for free. The general public bought the other half. The Cool Pets first come as an egg image, that hatches and reveals the final NFT. The pets are divided into four elements: Fire, Water, Air, and Grass. The $MILK token The $MILK is an ERC20 token on the Ethereum and Polygon blockchains. It’s the oil that greases Cooltopia’s gamified economy. According to the documentation: “$MILK is the key to all sorts of functionality and fun in the Cool Cats ecosystem, from buying Battle or Housing chests to going on quests.” “$MILK is also how you’ll enhance and evolve your Cool Pets.” This one describes the NFTs staking-like mechanism: “Your Cool Cat is earning $MILK just by being cool (the $MILK claiming clock begins as soon as the contract is deployed), and that $MILK will accumulate over time.” Controversy And Suspicion There’s something strange going on with this project. Recently, the newly-appointed CEO stepped down after just three months. There was never a credible explanation. The collection just tweeted, “Chris Hassett has stepped down as CEO. We thank him and wish him the best moving forward.” Is there something rotten in the Cool Cats headquarters? Related Reading: Blue Chip NFTs 101: The World Of Women Collection, Including And Conquering And then there’s the price. At its height, in October 2021, the Cool Cats floor price was around 26 ETH. Almost a year later, the floor Cool Cats are trading for 2.9 ETH. That’s not all, the Cool Pets’ floor price is 0.18 ETH. Are those Blue Chip numbers? Even though we’re basically in the middle of a crypto winter, the collection seems to be falling off a cliff… Will the Cool Cats land on their feet? Featured Image: screen shot from the collection's site | Charts by TradingView
<p>The UK's advertising watchdog, the Advertising Standards Authority (ASA), has banned two advertisements by the Premier League football club, Arsenal for its crypto-based fan token scheme.</p><p>The adverts for $AFC fan tokens were deemed by the ASA to be misleading fans over the risks of cryptocurrency investing. The first advert published on August 6th, 2021 described the token, and how it could be used within the Socios app.Six days later, a second advert was uploaded on Facebook featuring Arsenal footballers Ben White, Calum Chambers and Kieran Tierney promoting the token, along with text that briefly detailed $AFC, the Chilliz ($CHZ) cryptocurrency and the Socios app.</p><p>"Took Advantage of Consumers’ Inexperience"</p><p>Despite an appeal lodged after the complaint last year, the ASA upheld its decision that the two adverts were “misleading because they failed to illustrate the risk of the investment,” and “irresponsible because they took advantage of consumers’ inexperience or credulity and trivialized engaging with and investing in crypto assets.”</p><p>Arsenal, who have finished behind their North London rivals Tottenham Hotspur for the last six seasons, initially appealed the decision, saying the warnings were enough and their audience was knowledgeable on crypto. The club also tried to argue the point that there was no regulatory basis to include information regarding capital gains taxes incurred from trading the tokens, despite them being crypto assets and, as such, subject to such rules.</p><p>However, the complaint was upheld and Arsenal's appeal was rejected. The ASA stated the Arsenal ad was misleading “because it did not make clear that the tokens were <a href="https://www.financemagnates.com/cryptocurrency/" target="_blank">crypto</a> assets, which could only be obtained by opening a crypto assets exchange account, and in the case of paid-for fan tokens, required the purchase of another cryptocurrency.”</p><p>The UK advertising watchdog ruled that the adverts “must not appear again in the form complained about.”The ASA also warned Arsenal:- to make it clear that investments with paid-for fan tokens are subject to volatile markets and are unregulated crypto assets.</p><p>- not to mislead consumers by omitting material like the need to open a crypto assets exchange account and purchase various <a href="https://www.financemagnates.com/terms/c/cryptocurrencies/" target="_blank" id="b091101e-6e02-4b36-aa0e-7c972dfdd6ed_1" class="terms__main-term">cryptocurrencies</a> in order to buy the tokens.</p><p> - to make sure future ads are not trivialized by omitting risk warnings and taking advantage of consumers’ lack of experience with crypto.</p> This article was written by Finance Magnates Staff at www.financemagnates.com.
As the war in Ukraine continues to bear its toll, the USA for UNHCR has received a donation of $2.5 million to support families that are most impacted by the ongoing crisis. (Read More)
Who’s one step closer to regulating cryptocurrency use? Brazil is. The Senate Committee, more specifically The Committee on Economic Affairs, settled on a bill. Its aim is to regulate crypto transactions in Brazil. For the bill to become law, it has to be approved in the Senate plenary and then by the Chamber of Deputies. If it goes through those two hoops, the law goes into effect 180 days after publication. Related Reading | Stablecoin Supply Near $200 Billion, Faster Growth Than Rest of Crypto Even though regulation still seems far away, it’s good to remember that the bill started its journey just five months ago. When the whole world thought its aim was to declare bitcoin legal tender, NewsBTC used online translators to get to the bottom of the story. At the time, we quoted Brazil ’s premiere bitcoin journalist Saori Honorato about the future of the bill: “Last week, the bill was approved by a special committee of the Chamber of Deputies and now goes to the Chamber’s Plenary. If approved by deputies, it advances to the Senate to be discussed once more and, if approved, goes for the president.“ And look how far it is, already at the Senate level. It’s worth noting that Brazil ’s President still holds the power to veto the bill at any point. However, as Portal Do Bitcoin informs, there are concrete reasons to believe he approves of the bill: “Among the senators who voted in favor was Flávio Bolsonaro (Liberal-RJ), son of President Jair Bolsonaro. This indicates that the Chief Executive must have a favorable stance on the Senate bill.” Why Is Brazil Behind The Crypto Bill? Alternative versions of the bill proposed two organizations to be in charge of crypto. The Central Bank and the Federal Revenue Agency AKA the tax collectors. The approved version has another idea. “The Executive Branch will be responsible for defining which bodies will regulate and supervise business with cryptocurrencies.” The Executive Branch will also be in charge of authorizing crypto-related operations to conduct business in Brazil. If said companies detect a suspect transaction, they’ll have to report it to the Financial Activities Control Council. Especially if it’s related to money laundering. The key aspect of the bill is to “establish rules in line with international standards to prevent money laundering and concealment of assets, and to combat the activities of criminal organizations,” according to Portal Do Bitcoin. It also formally defines some concepts, for example, a “virtual asset”. It’s a “digital representation of value that can be traded or transferred by electronic means and used to make payments or for investment purposes.” Related Reading | Ether EFT Gets Approval From Brazilian Securities Regulator The bill also defines “virtual service providers” as: “The company that performs, on behalf of third parties, at least one of the services: redemption of cryptocurrencies (exchange for sovereign currency); exchange between one or more cryptocurrencies; transfer of virtual assets; custody or administration of these assets or instruments to control virtual assets; or participation in financial services related to the offering by an issuer or the sale of virtual assets.” For “those who commit fraud in the provision of virtual asset services,” the bill contemplates a four to eight years sentence. Plus, a fine. ETH in Brazil, price chart on Mercado | Source: ETH/BRL on TradingView.com Words By The Bill’s Author In a press release quoted by Portal Do Bitcoin, Senator Irajá, the author of the bill, promises: “We are creating a regulatory framework to ensure security and transparency. The media covered cases of financial pyramids that caused damage to companies and citizens. The cryptocurrency market has doubled in size since 2019. This milestone encourages it to continue growing, but this time fighting financial pyramids, evasions and other crimes.” Is regulation good or bad for the cryptocurrency ecosystem in Brazil? That’s for the market to decide. Featured Image by Pexels on Pixabay | Charts by TradingView
Japan proposes amendments to ease regulations on tokenized membership rights for Decentralized Autonomous Organizations (DAOs), aligning tokenized rights with traditional company memberships, marking a significant step towards fostering DAO operations. (Read More)
World Crypto Global opens the door to digital freedom for everyone.
Manage your free WCG Coins securely—where simplicity meets global accessibility.
FREE CRYPTO COINS
AVAILABLE FOR RESERVATION
ALREADY ALLOCATED
No fees. No catch. Your crypto journey starts here.
World Crypto Global
