Discover and read the best of Twitter Threads about #digitalassets

Most recents (20)

June 30, 2021: ASIC has just released a consultation paper titled "Crypto-assets as underlying assets for ETPs and other
investment products"

Below is a thread to summarise some interesting highlights from the paper.

Read full here:
asic.gov.au/media/yhbgvq02…
It covers how exchange traded products (ETPs) that
invest in, or provide exposure to, #digitalassets can meet existing regulatory expectations for ETPs.

The paper sets out our proposals on good practices on related products.

ASIC also noted that the proposals are preliminary.
ASIC acknowledges the interest in Australia for digital asset ETPs, in particular ETFs.

While also raising the unique features and risks which need to be recognised by operators and issuers, and they should meet and stay consistent with existing
regulatory obligations.
Read 14 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/ @quant_network is here to build that foundational layer on which others can build and create value on, they’re here to (inter)connect large ecosystems / networks that may be national, regional or corporate, finance or health related. They’re here to change your future. $QNT
2/ Yes, their focus is mostly on #Enterprise at this moment, as that’s where mass adoption is taking place. People using #Quant products without knowing they do so, that being #CBDC’s or other #DigitalAssets. They’ve been building silently, to unveil a work of art.
3/ But they’re here to open up the technology to anyone who’s willing to learn and put it in the effort. Yes, this is aimed at the $BTC, $ETH, $XRP, $AVAX, $DAG, $DOT, $ALBT, etc developers. Anyone is welcome to create a connector (due H1).
Read 4 tweets
@beeple 5000 Days Crypto Sold for $69M as NFT reach main stream art market at auction platform @ChristiesInc Interest in #NFT and #NFTartists have increase exponentially since Crypto Kitty of 2017. Let explore the NFT so investors can best gain an understanding the asset.
NFT or None Fungible Token is powered by #etherium #Blockchain. Fungible physical assets can be gold, money, or commodity while fungible digital assets are #BTC and other #Crypto. Mona Lisa is the non digital version of NFT, while NFT is a form of #digitalarts and #DigitalAssets
NFT popularity grew from @CryptoKitties. The rights and ownership of each unique kitties is identify to owners via #smartcontracts. The smartness of NFT enable by the block-chain encryption ensure contracts are tamper proof and efficient in the transactions of ownership.
Read 10 tweets
Let’s explore $QNT- Vocalink-Mastercard connections.

THREAD TIME⬇️ Image
#Quant_Network core team members have previous working experience at #Vocalink (Mastercard company):

✅ $QNT CEO Gilbert Verdian was Chief Information Security Officer (CISO)

✅ $QNT Chief Product Officer Martin Hargreaves held mutiple top positions (see last pic below) ImageImageImage
However, Gilbert Verdian and Martin Hargreaves are not the only team members with working experience in both $QNT and #Vocalink/Mastercard.
There was also Mark Aldersey, Head of Product in #Quant_Network from Nov 2018-March 2020 and Colin Paterson, former $QNT CTO. ImageImage
Read 15 tweets
1/ HEY CRYPTO LAWYERS: buckle in bc a big piece of US #crypto regulatory puzzle fell in place yesterday. Culminates >2yr process, coordinating w/ SEC & other regulators, to clarify "#qualifiedcustodian." #NoActionLetter by #Wyoming Banking Division🤠here:
docs.google.com/viewer?a=v&pid…
2/ Here's an article from @ForbesCrypto's @AndreaTinianow & a post from McDermott Will & Emery, the attorneys who obtained the letter for @TwoOceanTrust of #Wyoming.

So...WHAT DOES IT REALLY MEAN??? 🤔

mwe.com/media/mcdermot…

forbes.com/sites/andreati…
3/ Follow along! Under SEC Custody Rule & SEC Customer Protection Rule, #RIAs (Registered Investment Advisers) & investment managers must hire a #qualifiedcustodian to store customers' assets.

But traditional custody banks can't/won't touch #bitcoin & other #crypto right now.
Read 22 tweets
The paradox of #decentralization and team #Leadership defines the future of #Crypto ecosystem. Excited to share my perspective on progressive decentralization in this thread
It starts with the purpose of the token. Is the project using the token to enable community ownership or is it predominantly inclined towards crowd funding ? #tokenization #crypto
Tokens inclined towards #Community #Ownership are on the right path towards progressive decentralization
Read 11 tweets
1/ MORE ANALYSIS-Goldman's new head of #digitalassets is a #repo trader based in LONDON. This is significant bc UK law basically has no limits on #rehypothecation. To be clear I'm not worried abt #bitcoin--as a system it's immune to WallSt's leverage games
2/ That doesn't mean its price won't be impacted tho--bc #rehypothecation fulfills real demand w/ artificially created supply & thereby suppresses price, all else equal. Rehypothecation works as long as there's a lender of last resort. But #bitcoin has no lender of last resort!🚧
3/ So, how many times could a #bitcoin be rehypothecated? In UK there's basically no limit bc the broker/dealer takes outright title to the customer's asset. This is why Lehman transferred so many of its assets to its UK subsidiary from its US subsidiary. kramerlevin.com/en/perspective…
Read 6 tweets
Excited to announce that "#DigitalAssets & Blockchain Technology: U.S. Law & Regulation" is now available at: e-elgar.com/shop/usd/digit…. This collaboration w/Daniel Stabile & Kim Prior addressing US law applied to #crypto & #blockchain is perfect for students & practitioners alike.
Thanks to our publisher @Elgar_Law, our law firms @CarltonFields and @ShuttsBowen for their support!
Tagging co-author @KimPriorB to this thread!
Read 3 tweets
1/ GAME ON! The @USOCC's announcement that it's following #Wyoming by allowing national banks to custody #digitalassets is GREAT news for #crypto! Long overdue & hopefully will help U.S. regain ground it lost to other developed world countries by dilly-dallying for so long.
2/ Winners=customers & #crypto VCs. This will spur M&A boom as US banks acquire #digitalasset custodians. Most must sell bc:
a. trust co. charters now obsolete &
b. #BitLicense now obsolete 👏

bc @USOCC leapfrogged 'em. Custodians now MUST have a bank charter to be competitive.
3/ But @USOCC didn't leapfrog #Wyoming, bc we already offer a bank charter.🤠

What's the distinction? A bank license was **ALWAYS** the optimal US regulatory structure for crypto custodians--not a trust charter or #BitLicense. Bank charters are SO much better for #crypto custody
Read 25 tweets
#RHODEISLAND HB 7989 would "establish an economic growth #blockchain act, set regulations for the sale of #hemp, regulate #virtual and #digital assets and establish depository banks for these purposes" Uses WY/CA #blockchain definition. /1 ImageImageImageImage
it's a long bill and there's a lot going on here. Summary: Would establish a 13 member state tech council to develop a "#blockchain filing system," use a #blockchain for a "Track and trace" hemp/cannabis supply chain system, create a fintech sandbox, including /2 ImageImageImageImage
special provision for a special depository institution that can hold deposits but not make loans, not hypothecate assets; would include #virtualcurrency (extremely broadly defined) as part of defined #digitalassets ImageImageImageImage
Read 3 tweets
#Tennessee SB 2840 would amend the state's UCC; classify #digitalassets as property, defines #virtualcurrency as a subset of digital assets; /1 legiscan.com/TN/text/SB2840… ImageImageImageImage
Echoes of Wyoming- "virtual currency is... considered money" for the purposes of Article 9... uniquely equates "control" and "posesssion" with "exclusive legal authority" to transact... /2 ImageImageImageImage
a #privatekey must be "held by a person"- are smart contracts now agents who "hold" keys for a person? PK defined as a "unique element of cryptographic data," ...that is: (B) Paired with a unique, publicly available element of cryptographic data" -only public/private key systems!
Read 7 tweets
@Capgemini has released their 'Top trends in Capital Markets:2020' report, it holds some interesting insights for consideration...A few takeaways..#GlobalTrends #DigitalReality #DigitalAssets #AI #Automation #FinTech (1/4) Image
3/4 The move to 'Quantamental #Investing' #FundamentalInvesting #Quant #GlobalTrends Image
Read 4 tweets
1/ My views in EconomicTimes on #Libra: “If @facebook were to design the Libra to be a closed system, only to be transacted on its network and not beyond, #RBI should ideally be less concerned, since the #coin does not engage with the external economy” bit.ly/2Ro8jpC
2/ “If it is not meant to operate in a closed system, then it is exactly the kind of #DigitalAssets that concerns RBI. #regulations as currently drafted seem to indiscriminately apply to both the above examples.”
3/ "The argument that this is a #stablecoin — a #cryptocurrency whose value is pegged to be as stable as the dollar — is unlikely to pass muster with the banking regulator, due to concerns around tax evasion, money laundering and fraud" @ikigailaw
Read 3 tweets
@jchervinsky @josh_blockchain @gulovsen @ForbesCrypto @DelRayMan @AndreaTinianow @GitlitzMichelle @JTelpner @msantoriESQ @ronqman @jaybaris @KMSmithDC @BlockchainAssn Thanks Jake. Who’s responsible for adding federal preemption to the new #tokentaxonomyact? That provision wasn’t included in the version of the bill introduced in December. I wonder what changed between then and now
@jchervinsky @josh_blockchain @gulovsen @ForbesCrypto @DelRayMan @AndreaTinianow @GitlitzMichelle @JTelpner @msantoriESQ @ronqman @jaybaris @KMSmithDC @BlockchainAssn 1/ What’s controversial abt federal preemption here isn’t merely that state securities regulators will object (they will, as Greg Strong points out in @josh_blockchain’s post), but something much more fundamental: do the feds control property law, or just a subset (securities)?
@jchervinsky @josh_blockchain @gulovsen @ForbesCrypto @DelRayMan @AndreaTinianow @GitlitzMichelle @JTelpner @msantoriESQ @ronqman @jaybaris @KMSmithDC @BlockchainAssn 2/ If #digitaltokens aren’t securities, then what are they? The #tokentaxonomyact doesn’t answer bc it can’t. We ran into the same issue in #Wyoming—originally exempting tokens from state securities laws in last year’s HB70, but not defining what they were. So, #Wyoming fixed
Read 7 tweets
@valkenburgh @BullyEsq @propelforward 1/ Magic?? Back at ya w/ the @TenthAmendment! You can expect states to fight like hell to maintain supremacy over property law—neither the Supremacy nor Commerce clauses have eroded that much. If you support federal preemption for property law, do you think feds should preempt..
@valkenburgh @BullyEsq @propelforward @TenthAmendment 2/ ...the UCC? If not, what’s the difference? Big companies in this sector have shown a tendency to seek collectivist solutions for expediency—for short-term convenience. That comes at serious cost for individual owners of #digitalassets & jettisons competition among states to...
@valkenburgh @BullyEsq @propelforward @TenthAmendment 3/ ...ENABLE the industry w/ welcoming laws, rather than restrictive laws. Competition among states has proven beneficial to us—why should we give that up?? It’s a lot harder to capture all the states than to capture Congress. This is shades of the #UASF debate—what’s good for...
Read 4 tweets
1/ BOOM! #Wyoming just recognized clear, direct property rights for #digitalassets by passing SF125! This means #blockchain cos will prob want to apply WY law to your contracts, domicile here, &/or have a physical presence here. Thx again to the army of ppl who helped over months
2/ As @TraceMayer says, v impt for broad adoption of #crypto that it be “backwards-compatible w/ law.” SF125 enables that. Bill was amended w/ improvements & latest is here: wyoleg.gov/Legislation/20…. Goes to @GordonGovernor for signature & could officially become law next week
3/ I'll publish analysis after it officially becomes law, but here's the key: #Wyoming law recognizes property rights in the DIRECT ownership of #digitalassets. Property law in US is determined by states, not the feds. WY not only did it first but did it right!! This applies to
Read 11 tweets
We’ll be announcing a first wave of speakers over the next few days! Confirming more every day, and excited to have every one! For the most up to date list, check out mitbitcoinexpo.org #MITBitcoinExpo #TheNext10Years
Starting off, can’t wait to hear from @tdryja, research scientist and thought leader at @mitDCI! Co-author of the lightning paper and currently working on Utreexo, he has insights to share about the future of scalability! #MITBitcoinExpo Get your tickets: mitbitcoinexpo.org
@cathieyun’s absolutely blown us away with her cryptography for @go_interstellar - some might even say she’s bulletproof! Can’t wait to hear her speak at the #MITBitcoinExpo. #TheNext10Years Get your tickets here: mitbitcoinexpo.org
Read 59 tweets
So many terms floating around lately in relation to #DecentralizedNetworks, protocols, staking, and mining. The following Twitter-Wiki is how I understand all of these closely-related, but subtly different concepts. . . 👇
#DecentralizedNetwork - In our #Blockchain context, a P2P network with a protocol that can trustlessly transfer value in the form of #DigitalAssets.
#GeneralizedMining - Extraction of on-protocol compensation from #DecentralizedNetworks through the provision of #SupplySideServices, liquidity, or alpha-generating activities. (cc @coinfund_io, @JoeLallouz)
Read 25 tweets

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