Web3 Diaries-EU Signs New Crypto Licensing
The European Union formally signed its landmark Markets in Crypto Assets (MiCA) regulation into law on Wednesday, taking the bloc closer to becoming the first major jurisdiction in the world with tailored rules for the sector.
The law was signed by the European Parliament President Roberta Metsola and Swedish Rural Affairs Minister Peter Kullgren, alongside a separate anti-money laundering law that requires crypto providers to verify their customers’ identity when they transfer funds.
The news was announced on Twitter by the Swedish government, which is chairing legislative talks as it holds the EU presidency. A parliament spokesperson confirmed to CoinDesk that the laws in question include MiCA and the transfer of funds rules as well as two unrelated regulations on trade with Ukraine.
First Digital Unveils USD Stablecoin as Hong Kong Crypto Rules Kick In
First Digital Group, a technology-driven financial institution powering digital asset industry, today announced launching of a USD stablecoin, FDUSD.
The stablecoin is issued on Ethereum and BNB. The company is in discussions with all major exchanges for a listing.
First Digital says FDUSD is backed by “high-quality reserves” of cash and cash equivalents in regulated financial institutions around Asia, and will be issued by First Digital Trust, a trust company registered under Hong Kong’s Trust Ordinance.
Part of the requirements of Hong Kong’s Trust Ordinance is to keep all reserves in segregated accounts, which prevents co-mingling of assets.
Pixel Penguins Unveil Dangers Of NFT Influencer Culture
Many gullible investors follow social media influencers for collecting non-fungible token (NFT) of their dream. However, it is observed that hidden behind profile-picture (PFP) NFTs are figures who send “gm” messages, share the latest crypto news and boost morale within the Web3 community when the market takes a blow.
Many of these influencers have amassed tens of thousands – sometimes millions – of followers. But with a large following comes a responsibility to act in good faith, knowing that their tweets may sway opinions about whether to buy or sell an NFT.
The role becomes less glamorous when an influencer promotes an NFT project that turns out to be a scam.
You need to login in order to Like
