Connect with us

Latest News

Denmark Country Plans To Ban Some Bitcoin & Defi Wallets  | EVM News

Avatar

Published

on


Denmark has proposed new regulations that might ban the use of self-custody Bitcoin wallets and other decentralised finance (DeFi) platforms.

Denmark, a Nordic country known for its high standard of living, allows the legal trading, buying, and selling of cryptocurrencies. The Danish Financial Supervisory Authority oversees cryptocurrency activities to ensure compliance with financial regulations and prevent money laundering. Recent proposals suggest Denmark may be planning to bring more strict rules & laws to regulate the unregulated part of this innovative sector.

Denmark’s latest approved regulatory proposal could ban self-custody Bitcoin wallets and other DeFi interfaces, decentralised Cryptocurrency protocols. 

The Danish Financial Supervisory Authority (DFSA) plans to ban all unregulated wallets due to concerns about unregulated cryptocurrency activities. Despite criticism, the DFSA argues this move will ensure crypto transactions are regulated and address a coverage gap in DeFi regulation.

If this rule is implemented, it will contradict the EU’s Markets in Crypto Assets (MiCA) guidelines and the US’s stance on BTC self-custody wallets. MiCA regulations, effective from December 30, 2024, do not apply to the DeFi sector and have been criticised for stifling innovation but there are huge chances that lawmakers will work later on this issue, probably in 2025.

Estonia & self-custody wallet ban

Estonia, another European Union (EU) member country, has implemented similar rules on self-custodial wallets, which could negatively impact the sector in Denmark. 

Crypto enthusiasts noted that if Denmark adopts these rules, no one will be able to offer Bitcoin wallets, DEX interfaces, or any token-related services without being regulated in Denmark’s jurisdiction & there are huge chances that similar measures will be adopted by other EU member countries.

In contrast, the US crypto infrastructure bill FIT21 Act has chosen to study DeFi, like MiCA, instead of regulating it. The DFSA is now seeking feedback from stakeholders on its proposals. That means, the American regulatory body decided to first study this unregulated sector, instead of direct ban/unban decision.

Read also: VanEck Files for SOL Spot ETF with SEC; Technical Indicators Point to Potential $200 Breakout”




Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest News

Donald Trump Champions Bitcoin: Calls For Bitcoin As Strategic Reserve Asset | EVM News

Avatar

Published

on


Former President Donald Trump has expressed strong support for Bitcoin, suggesting it should be considered a strategic reserve asset. He warned that restricting Bitcoin’s growth would benefit China and Russia.

Donald Trump, the 45th President of the United States, is known for his outspoken views on a wide range of topics. Historically, Trump has been skeptical of Bitcoin and cryptocurrencies, labeling them as volatile and potentially fraudulent. However, his recent endorsement of Bitcoin as a strategic reserve asset marks a significant shift in his stance, highlighting the evolving perception of digital currencies in the global financial landscape.

Former President Donald Trump has again shown strong support for Bitcoin. He said that Bitcoin could be considered a strategic reserve asset, according to a Forbes report.

Sam Lyman, the policy director of top bitcoin mining firm Riot, responded to this recent stance of Trump & said that Trump acknowledged Bitcoin’s geopolitical significance and warned that policies hindering its growth would benefit China and Russia.

Trump’s endorsement positions him as the first major political party nominee to embrace Bitcoin in the USA, likely aiming to gain support from cryptocurrency enthusiasts in the upcoming US presidential election. This move highlights his recognition of Bitcoin as a strategic reserve asset and seeks to appeal to the growing community of crypto supporters.

Cynthia Lummis’s support for Bitcoin 

The US Senator Cynthia Lummis from Wyoming, known as the “Crypto Queen” of Congress, has recently suggested that the Federal Reserve diversify its foreign currency holdings by adding Bitcoin to its balance sheet. Lummis believes Bitcoin is an excellent store of value and advocates for the government to diversify its investments to include the cryptocurrency.

These days, Cynthia is planning to appear at a major Bitcoin-focused event to share her thoughts on the future of Bitcoin adoption in the US under the new crypto bill.

Read also: Ethereum Surges 100% Against Bitcoin in Annual Revenue from Transaction Fees




Continue Reading

Latest News

E Money Network Launches $2 MILLION RWA Grant Program To Spearhead RWA Ecosystem | EVM News

Avatar

Published

on


Bengaluru, India, July 3rd, 2024, Chainwire

E Money Network, a modular RWA blockchain, has launched the biggest RWA grant program in the crypto space, totaling $2 million, to enable RWA projects to build on their blockchain and accelerate the development of the RWA economy. 

E Money Network’s Architecture Unlocks a World of Possibilities

E Money Network is an L1 blockchain that acts as a foundational network for building RWA projects. Apart from a developer-friendly SDK for customized features, it also has standard ready-made modules such as KYC verified onboarding, banking, staking, governance and more that can be incorporated directly into applications. The E Money Network supports interoperability with Inter-Blockchain Communication (IBC), allowing the development of applications that can communicate with other IBC-compatible blockchains. 

E Money Network has built-in compliance modules including Know Your Customer (KYC), Know Your Ownership (KYB) and Know Your Transaction (KYT) to enable adherence to the upcoming Markets in Crypto Assets (MiCA) regulations. These features ensure that every entity and transaction in an application built on the E Money Network is also MiCA compliant by default. 

Objectives of the Grant Program 

As a part of its #BUIDLonEMN initiative, E Money Network invites developer teams with disruptive RWA-centric ideas to build on the E Money Network and bring innovative solutions to life. Applicants can submit Requests for Proposals (RFPs) detailing their ideas for RWA applications . Its $2 million grant pool will be distributed as initial capital among eligible projects.

E Money Network’s CEO Raj Bagadi quoted “RWA ecosystem is in its nascent stages, and building the RWA ecosystem with numerable RWA-specific applications will help in shaping E Money Network’s trajectory and spearheading new advancements for the wider RWA ecosystem. Hence, we are launching the biggest grant program to enable the next generation of entrepreneurs seeking to rebuild the financial markets with RWA applications.”

Evaluation Criteria for Winning Grants

A group of technology experts, marketing professionals and experienced community members will form the selection committee for reviewing grant applications. Applications to the grant program will be evaluated on the basis of the following criteria –

  1. The project’s objective and scope
  2. The anticipated impact of the project
  3. The project’s milestones and KPIs
  4. Expected budget
  5. Team details including roles, responsibilities and prior experience of each team member
  6. Product roadmap

Each proposal must include at least three milestones with measurable KPIs such as user growth, TVL increase, transaction volume, etc. 

Depending on the afore-mentioned factors, projects can become eligible to win grants ranging from $5000 to $50000 based on requirements and scale of the product. Additionally, E Money Network will also provide winners of the grant program access to mentorship from industry experts, legal and compliance support, marketing and growth support, networking opportunities with other RWA projects and E Money Network’s core developers. 

How to Apply

Interested developers and builders can join the #BUIDLonEMN initiative by filling out the grant application form here and joining E Money Network’s grant channel on Discord. After the submission of the application, the selection committee will evaluate the project. Successful applications to the grant program will be notified along with further instructions. 

About E Money Network

E Money Network is the regulated Modular RWA blockchain. It serves as an L1 blockchain designed for seamless interoperability between DeFi 2.0 and RWA tokenisation, effectively establishing a network that aims to bridge the liquidity divide between Web 2.0 and Web 3.0.

For more information users can visit: X | LinkedIn | Blogs | Whitepaper  

For media queries, users can contact: marketing@emoney.network

Contact

Head of Marketing & Branding
Shivangini Agarwal
E Money Network
marketing@emoney.network




Continue Reading

Latest News

Transforming Online Gambling And Community Engagement: Mpeppe (MPEPE) Unveils Strategic Innovations | EVM News

Avatar

Published

on


Frankfurt, Germany, July 2nd, 2024, Chainwire

Mpeppe (MPEPE) is emerging as a transformative force, poised to redefine online gambling and community engagement. By going beyond mere financial transactions, Mpeppe (MPEPE) aims to build a vibrant, creative, and globally impactful community. This ambitious project embraces the spirit of soccer and integrates decentralized finance (DeFi) elements, driving positive change and creation through strategic community planning.

Mpeppe (MPEPE) in Online Gambling

Meme cryptocurrencies, known for their playful branding and viral marketing, have significantly influenced the online gambling sector. Mpeppe (MPEPE) stands out in this space for several compelling reasons:

  • Market Dynamics: The inherent volatility of Mpeppe (MPEPE) can create an engaging experience, drawing interest from those who are accustomed to the fluctuating nature of traditional gambling.
  • Viral Influence: Utilizing memes and internet culture, Mpeppe (MPEPE) engages audiences beyond typical cryptocurrency markets, increasing visibility and interest in online gambling platforms.
  • Reward Mechanisms: The Mpeppe (MPEPE) Casino offers an engaging gaming experience by utilizing $MPEPE and other cryptocurrencies for timely rewards, setting it apart from traditional online casinos.

Mpeppe (MPEPE) and DeFi: A Powerful Synergy

At the forefront of innovation, Mpeppe (MPEPE) is integrating DeFi protocols into its ecosystem, significantly enhancing its utility. Key features of this integration include:

  • Yield Farming and Liquidity Mining: Mpeppe (MPEPE) allows users with the chance to earn rewards through liquidity provision and farming activities, fostering an active community and incentivizing participation.
  • Decentralized Governance: empowers its community with decentralized governance mechanisms. This enables members to have a say in the project’s direction and development, promoting a sense of ownership and collaboration. The community-driven approach ensures that the interests of all stakeholders are considered, fostering a more inclusive and democratic environment.
  • Comprehensive Financial Services: Mpeppe (MPEPE) Integrating DeFi protocols allows Mpeppe (MPEPE) to offer a wide range of financial services such as lending, borrowing, trading, and yield farming without traditional intermediaries. Mpeppe (MPEPE) demonstrates the potential of DeFi to innovate within the financial sector.

Building a Global Community

Mpeppe (MPEPE) is a meme coin that aims to create a global community that celebrates creativity, soccer spirit, and real-world impact. It aligns its values with community interests, aiming to build a sustainable ecosystem. The project’s focus on soccer resonates with a global audience, creating camaraderie and shared purpose. This unique approach distinguishes Mpeppe (MPEPE) from other meme coins.

Join the Mpeppe (MPEPE) Movement

As Mpeppe (MPEPE) continues to grow and innovate, it invites individuals and investors to join its movement and be part of a community that values creativity, positive change, and creation. With its unique blend of meme culture, online gambling excitement, and DeFi integration, Mpeppe (MPEPE) is set to revolutionize the future of online gambling and community engagement.

About Mpeppe (MPEPE)

Mpeppe (MPEPE) is a meme cryptocurrency aiming to create a global community through strategic community planning. It integrates decentralized finance protocols and soccer spirit, driving positive change and creation. Mpeppe is a visionary project that combines online gambling excitement with DeFi innovation, fostering a global community united by soccer and a commitment to positive change.

For more information on the Mpeppe (MPEPE) Presale, users can visit Mpeppe (MPEPE) and join the community on Telegram | Twitter.

Users can use promo code $MPEPPE to get a 15% bonus.

Mpeppe (MPEPE) is the source of this content. This Press Release is for informational purposes only. The information does not constitute investment advice or an offer to invest.

Contact

Marketing Team
Chris P
Mpeppe.io
team@mpeppe.io


Continue Reading

Trending