Discover and read the best of Twitter Threads about #cryptoassets

Most recents (24)

The European Systemic Risk Board (#ESRB) has released a report diving into EU non-bank financial intermediation risk monitoring from June to December 2022 and the risks that could impact non-bank actors in the #crypto industry. We've read it for you👇

#CryptoRegulation Image
📌 Key risks identified are:

1️⃣ Persistent credit risk - Opaque business structures and unsustainable business models leading to default

2️⃣ Market risk - Boom and bust cycles fuelled by leverage and the speculative nature of assets
3️⃣ Liquidity risks - Business models built on maturity & liquidity transformations without appropriate safeguards, resulting in vulnerability to 'runs'
Read 8 tweets
1/14 These critical threads highlight key points on the latest FCA 'Research Note: Cryptoassets consumer research 2023'; revealing a significant increase in #cryptoasset ownership in the #UK, with 9% of adults (4.97m) owning cryptoassets in 2022; highlighting the growing adoption
2/14 The research highlights that 15% of #cryptoasset users have purchased #stablecoins. This indicates that stablecoins, which are designed to minimise price volatility, have gained traction as a popular choice among #crypto investors. #CryptoassetsOwnership
3/14 A noteworthy is that 28% of non-cryptoasset users stated they would be more likely to buy #cryptoassets if the market & activities were regulated. This underscores the potential impact of regulation on consumer behaviour & the importance of creating a regulated environment.
Read 23 tweets
1/10: This threads critically highlight a few points on the #UK #FCA Proposal on #Cryptoasset Financial Promotions Rule that seeks feedback on how they approach & how firms comply with their requirement of fairness, clarity and not misleading. #CryptoRegulations
2/10: The FCA has introduced new regulations for marketing cryptoassets to #UK consumers. This move requires firms, including those based overseas, to comply with the regime and review the statutory instrument alongside the Policy Statement (PS). #CryptoRegulations
3/10: Firms planning to market to UK consumers must carefully consider the four available routes for lawfully communicating promotions and ensure compliance with the relevant requirements. Seeking professional advice is crucial during this preparation phase. #ComplianceMatters
Read 10 tweets
IOSCO recently published its long-awaited consultation report on regulating #CryptoAssets, consisting of 18 high-level recommendations for global regulators to take into consideration when crafting and enforcing rules in this area. Image
⏰ The deadline to provide feedback has been set for 31 July, with a view to finalising them by September/October this year
👇 Key points of IOSCO's recommendations EU's #MiCA framework:

Main focus: Market integrity & investor protection;
Require #CASPs to implement fair, orderly, and timely transactions;
Read 15 tweets

Navigating #Crypto #Regulation in the UK 🇬🇧💰🔍

A comprehensive summary of the UK House of Commons Treasury Committee report on government's approach to #cryptoassets & how they plan to balance the scales of innovation and risk. (1/16) #ShitcoinShutdown #DLT Thread on the UK Gov's plan...
2. Shoutout to @MatthewLINY for finding this document that was published May 10 2023. 🤝

In this thread, I am going to summarize some viewpoints of the UK Gov and I will post the document link at the end of the Thread! Lets dig in⏬ #Crypto #DLT #Blockchain Image
3. The Treasury Committee has called for the UK Gov to step up its efforts in regulating #cryptocurrency, amidst rising concerns about risks to consumers.

They advocate for a pragmatic and balanced approach to regulation, recognising the potential of #DLT in financial services. Image
Read 18 tweets
1/ 🚀 Exciting news for #Uniswap and Apple users!

Uniswap's iOS mobile wallet is now live on the Apple App Store after previously being delayed due to Apple's approval process.
A thread🧵👇

#DeFi #cryptocurrency #wallet #iOS Image
2/ 📱 Uniswap's iOS Wallet: Initially unveiled in early March, the app faced delays as Apple held up its approval.

Despite being 100% compliant with Apple's specifications, Uniswap struggled to get the green light for the full launch. 🚦 #UniswapWallet #AppleAppStore
3/ 🌐 Official Listing: Now, the Uniswap mobile wallet is officially available in most countries, with more to come as Apple approves its release in other regions. 🗺️

#cryptowallet #UniswapRelease
Read 7 tweets
@Meria_Finance (previously Just Mining) led by CEO @PowerHasheur is a #Staking Provider, #Cryptoassets Manager, #CryptoEducator and more on @MultiversX #blockchain 🪐

They are Rank 3; 224 Nodes; 814K+ $EGLD in Delegation Cap & 17800+ Delegators:…

Together with @Ledger , @Meria_Finance is partner of @MultiversX Global Outreach Tour 🔥

They were also part of @XDayParis event, as part of the panel: Metaverse & Web3 Initiatives, Implications, & Impact for France

As @Meria_Finance keeps on building since the early days of #ElrondNetwork - now @MultiversX - it has been added to our platform at:…

Let's build and grow together!⚡️🛠️

$EGLD #Staking #StakingProvider #validator
Read 3 tweets
Today, we attended the #FTX hearing by the @EP_Economics in the @Europarl_EN.

It was an interesting discussion, with the underlying question being

"Would #MiCA have prevented the FTX collapse? Will the new rules be enough to address those issues?"

A🧵with key quotes:

Speakers underlined this is not a #crypto issue, but a human one

"The lack of segregation of user data in the #FTXscandal demonstrates the legislative need for the #EU to apply existing data protection rules to the #crypto market"

MEP @itinagli, Chair of @EP_Economics

"The #FTXscandal is caused by human behaviour!

It is to the #crypto market what Lehman Brothers represented for the traditional finance industry. Had #MiCA been already in place, the #FTX case should have never been possible"

MEP @DrStefanBerger, MiCA Rapporteur

Read 9 tweets
(1/10) The hype and effusion of #crypto has been crazy in the past few years. There are still aspects that remain obscure to most people. We unroll the mysteries of crypto in this thread. 🧐🔮🧵

Learn More 👇…
(2/10) What is #cryptocurrency? ⚡
Cryptocurrency is a #decentralized #digitalasset that exists on the blockchain. 🌐 It is not controlled by any authority but solely belongs to its owner.

#Crypto being decentralized implies that it runs on a peer-to-peer relationship. 🤝
(3/10) There is no need for a third party to intervene in a #transaction; it is based on a peer-to-peer relationship.

The currencies are stored in virtual platforms called #digitalwallets. But why are #cryptocurrencies named like this? 🤔💱
Read 10 tweets
[1/20] John Orchard (CEO, @OMFIF) spricht in diesem gerade einmal 4 Monate alten Video über die Zukunft von #Blockchain, #NFTs und #Web3.

In diesem 🧵 fasse ich zusammen, welche spannenden Rückschlüsse gezogen werden und was die Zukunft für uns alle bereithält. 👀 WSI OMFIF Wealth Strategy Institute How a digital world will
[2/20] Das erste Statement, gleich zu Beginn der Sitzung brachte mich zum Schmunzeln. 😉

Nach über 2 Jahren der Diskussionen und des Research zu #CBDCs, wissen die meisten #Zentralbanken bis heute immer noch nicht was sie tun sollen.
[3/20] Danach startet Stefan Edelmann (@sygnumofficial) in das Gespräch mit einer Übersicht der Investmentmöglichkeiten im #DLT Bereich, die aus seiner Sicht existieren:

• Der technologische Layer / Das Fundament als neues digitales #Asset Universum (Nicht die Währung)
Read 22 tweets
#MiCA was not the only proposal completed last week, as 🇪🇺 institutions also finalised the Transfers-of-Funds Regulation (TFR).

The #TFR is meant to implement the @FATFWatch's #travelrule for transfers of #cryptoassets in the EU.

As always, check our 🧵for details:

First, a bit of #context:

The original Transfers-of-Funds Regulation was established in 2015 and introduced the requirement for financial institutions to accompany each #transfer of funds with verified information about the originator and beneficiary of the transfer.

As part of its 2020 Action Plan on preventing #moneylaundering and #terrorism financing, the @EU_Commission put forward a legislative proposal for a recast of the original #TFR text with the main objective of expanding traceability requirements to crypto-assets.

Read 18 tweets
📢#MiCA is complete!

The landmark #crypto regulation sets out uniform 🇪🇺 requirements for offerors of #cryptoassets and service providers (#CASPs) to apply for authorisation in the Single Market.

👀🧵for a full dive on #MiCA and what it means for the #cryptoindustry.

Even though a better agreement was close last week, 🇫🇷 vetoed it during the 🇪🇺 MS intervention period & raised concerns on USD-denominated #stablecoins used as a "means of #exchange", suggesting a return to their restriction when used for #settlement purposes ❗️

The compromise was to at least clarify that USD-#stablecoins used for spot #trading would NOT be captured.

The final text was approval by #COREPER yesterday and @EP_Economics will do it on 10/10. Final adoption by Ministers and the Parliament’s Plenary will be end of Oct.

Read 22 tweets
On April 23, 2022, I registered with Florida Department of Corporations
Entity Name: 1equal1, 1=1, #1=1, One Equal One, 1e1, 1ae1, ONE EQUAL ONE, One_Equal_One, ONE_EQUAL_ONE, Inc.
@threadreaderapp unroll
(as proof of Payment; undeterred by delays. happy to comply with #consumerprotection #law #regulation)

[Mirror] (…)

Today, May 17, 2022 I had the courage. I applied for a #Grant @OpenSea.
My submission for #grant

1equal1 is……
with the Power of #NFTCommunity
@threadreaderapp unroll

1equal1, the project is a personal commitment and movement to advance civil rights and social justice by inspiring, advocating, and mobilizing via digital art in the blockchain.
Read 18 tweets
Latest UPDATE on the #TFR (Travel Rule) trilogue:

EU institutions are working to finalise the #TFR text to implement the #travelrule in Europe. Please find below the latest details. The aimed-for deadline for conclusion is still the first week of June.

Key issues on table:

The provisions introduced by the @Europarl_EN requiring #verification of information for each transfer of assets, the additional requirements applied to transfers to #unhosted wallets and the #blacklist of non-compliant entities.

In the past weeks, the @EUCouncil has taken onboard the concerns from the blockchain & crypto #industry, as well as those of regulators and competent #authorities (!), that flagged the impracticality and unintended consequences these provisions would have.

Read 9 tweets
Potion Community!

🧙🏻‍♂️ Would you like to protect your #cryptoassets from volatility?
#potion #potionprotocol #defi #crypto #cryptocurrency #trading #cryptotrading
Learn about the Potion protocol here:
🤝 With Potion Protocol, you can create an on-chain, transparent, fully-collateralized put option via a smart contract that will pay out immediately whenever necessary.

The power of insurance is in your hands!

#options #collateral #blockchain #ETH #BTC
🧠 Potion protocol give insurance buyers get the best price by routing the purchase to the cheapest combination of LP insurers.

🕶 If you want to save on gas fees, Potion Protocol also offers existing potions at your disposal to protect your assets.
Read 9 tweets
Top 5 #cryptoassets by NV: Linear, Weekly

Read 5 tweets
Timeline from 2011 until February 2018. There are more interesting assets from 2018 but those did not fit in the image. There are also some 1 of 1 art pieces or special images on Namecoin which are impossible to show because of image size.
Read 3 tweets
1/ Pro-tip for long term investors: Principal Tokens from @element_fi are a good way to long high conviction #cryptoassets at a discount to spot:
2/ How is the cryptoasset offered at a discount?

@element_fi allows users to split the base asset of a *yield generating position* into 2 separate, fungible tokens: The Principal Token and the Yield Token.
3/ At the end of a set term (eg, 6 months) each Principal Token is redeemable for its proportional share of the initial stake, while Yield Tokens are redeemable for the yield generated by the principal over the same time period.
Read 6 tweets
Financial life lessons I wish I learned earlier in life. Mind the downside risk. Lose 20% you have to make 25% to get back to even. Lose 50% you have to make 100% to get back to even. Feeling a bit of a thread here.
1/ It's hard to think about the long term when watching an asset that re-prices itself every millisecond. Write down your investment philosophy. Don't have one, start now. Buy a notebook, if you can't afford one DM me your address. Every day write your investing principles.
2/over time your investment philosophy will take root in your heart and mind. Keep writing though. Don't ever stop. This will be your bible in the darkest moments when you want to throw in the towel.
Read 13 tweets
@CaitlinLong_ @uniformlaws @Prof_CarlaReyes I'm very proud of the work done by the brilliant members of the @uniformlaws Digital Asset Working Group incl. @Prof_CarlaReyes @Andrea_Tosato to create this draft. For the twitterati who don't practice law, you may wonder, what's this? & Is it important? YES. A quick #thread
@CaitlinLong_ @uniformlaws @Prof_CarlaReyes @Andrea_Tosato The proposed new article 12 of the UCC would include rules for commercial transactions of what we’ve termed "controllable electronic records" or CERs. This would include a wide variety of #digitalassets including what we generally call #cryptocurrency along with /2
@CaitlinLong_ @uniformlaws @Prof_CarlaReyes @Andrea_Tosato #digitalassets that are related to other assets or legal rights such as precious metals-backed assets, certain types of #NFTs etc. /3
Read 12 tweets
1/ Our second issue is out.

In this issue, we discuss global labor arbitrage and the #Metaverse by looking at the history of MMORPG gold farming and the future of #playtoearn gaming.

This is done through the lens of @YieldGuild, a Metaverse recruitment agency.

Link/thread 👇
3/ @Its_Falcon_Time refers here to the #Metaverse as a set of digital nations.

We agree with this metaphor.

The #Metaverse with its shared on-chain history, vibrant meme culture, & the developing spatial Webaverse is best understood in this way.

Read 21 tweets
#Cryptoassets going through their first bull are likely to draw down 95-99% in their first bear.
If you think your asset is so high quality it’ll be excluded, look at $ETH’s first bear (2018-20).
Keep these #’s in mind as you gawk at “how rich you are.” If you just hodl, you may end up with 1-5% of what you have at the peak.

If holding BTC, maybe 15-30%.
Read 5 tweets

El estado de Wyoming (EEUU) ha aprobado la solicitud de dar apertura a un banco comercial a la exchange de criptomonedas Kraken, con el que la empresa puede mejorar y expandir sus productos, según un comunicado de prensa.

Hasta ahora, Kraken dependía de terceros para ...

...las transferencias bancarias y otros servicios que le permitían interactuar con el sistema financiero convencional.

Ahora sus clientes podrán realizar operaciones bancarias directamente con Kraken Financial, tal como lo harían con su banco actual. Para empezar, la ...

...compañía ofrece a los usuarios la opción de depositar USD y activos virtuales, que se integrarán en los servicios de intercambio existentes. El comunicado de prensa establece que esto puede proporcionar a los clientes una mejor infraestructura financiera, una mejor...
Read 4 tweets
#California appellate court affirms summary judgment in favor of @coinbase as to claims for #conversion #breach of contract & negligence; related to #coinbase not supporting #bitcoingold fork for its users; since it's precedent in CA, let's dive in /1 ImageImageImageImage
Court ruled that there was no agreement to give Plaintiff #Bitcoingold; there was no "contractual obligation to support or provide services for any particular cryptocurrency." Merger clause barred parol evidence & there was no contractual duty. That's breach of contract /2
Conversion of crypto is a pet issue of mine because it requires the Court to determine that the thing that is allegedly converted (i.e. the civil version of theft) is legally recognized property. Fun Fact- property rights are mostly created by state law. Only 1 state (Wyoming)/3
Read 11 tweets

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