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Lawyer Irina Heaver Warns UAE Crypto Payment Restrictions Could Be… | EVM News

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Lawyer Irina Heaver Warns of UAE Crypto Payment Restrictions

YEREVAN (CoinChapter.com) — The Central Bank of the United Arab Emirates (CBUAE) has introduced new regulations that could significantly impact the crypto industry warns crypto and blockchain lawyer, Irina Heaver. On June 5, the board of directors discussed projects under the financial infrastructure (FIT) program, aiming to boost digital transformation. Notably, they approved new guidelines for payment token services, stating that these tokens must be backed by UAE dirhams and cannot be linked to other currencies.

These new rules prohibit the use of cryptocurrencies for payments within the country unless they are licensed dirham payment tokens or registered foreign payment tokens. Currently, neither of these options exists.

UAE Considers Crypto Payment Ban
Source: @AskToRahulSingh
UAE Considers Crypto Payment Ban. Source: @AskToRahulSingh

New UAE Rules Threaten Crypto Payments

Irina Heaver, a prominent crypto and blockchain lawyer, has raised concerns about the new regulations. She told that these rules forbid crypto payments in the UAE. According to Heaver, the CBUAE is

“prohibiting the acceptance of cryptocurrencies for goods and services unless they are licensed dirham payment tokens or registered foreign payment tokens.”

Irina Heaver warns of new UAE regulations. Source: Irina Heaver
Irina Heaver warns of new UAE regulations. Source: Irina Heaver

Moreover, Heaver noted that this move contradicts the UAE’s historical pro-commerce stance. The country has thrived on foreign direct investment due to its liberal policies, absence of capital controls, and freedom of contract under commercial law. Customarily, these policies have allowed parties to agree on their transaction terms, including payment methods and currencies.

Heaver: Tether Ban Could Hinder UAE’s Digital Economy Growth

Primarily, the new regulations could hinder the progress of the Web3 and crypto sectors in the UAE. Heaver pointed out that Tether (USDT) has been the “backbone of transactions” in these sectors. Additionally, she stated that by prohibiting the use of stablecoins, the new rules risk slowing down the development of the digital economy in the country.

“This policy shift could signal a less favorable environment for the crypto industry, which is not beneficial for the UAE’s image or its ambitions in the digital economy,”

She added.

Heaver Highlights Lack of Unified Crypto Advocacy in UAE

Moreover, Heaver also highlighted the lack of strong industry associations in the UAE that can advocate for the crypto and Web3 sectors. She mentioned the Crypto Valley Association in Switzerland as an example of effective industry representation. This association successfully lobbied against unfavorable regulations imposed by the Financial Market Supervisory Authority (FINMA) in relation to staking.

In contrast, the UAE’s existing associations are fragmented. They often serve as platforms for deal flow and business development rather than advocating for the industry’s interests.

“The absence of a united voice in the UAE’s Web3 and crypto industry is a significant disadvantage,”

Heaver noted.

New Crypto Rules Could Deter Foreign Investment

Notably, the new regulations may have broader implications for the UAE’s economy. Heaver emphasized that the country has historically attracted foreign investment due to its liberal economic policies. These new rules could deter investors who are interested in the crypto and Web3 sectors.

Heaver expressed concerns about the new development’s alignment with the UAE’s economic principles and its impact on foreign investment inflow. Above all, by prohibiting the use of stablecoins, the regulations could make the UAE a less attractive destination for investment in the digital economy.


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RCO Finance (RCOF) Sees Massive Surge as Traders Find Best Place t… | EVM News

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RCO Finance (RCOF) has registered significant increments in its social interactions as traders look for the most appropriate platform where they can buy Solana ETF. 

The influx in trading volume with RCOF can be attributed to its recent listing of an ETF, which follows the movements of Solana, one of the more well-known cryptocurrencies.

Given that many investors are increasingly considering investing in cryptocurrencies as an investment product, interest in Crypto ETFs has also risen. With Solana recently entering the crypto market and attracting investors, RCOF’s decision to issue an ETF linked to this cryptocurrency could hardly have been more timely.

The Solana ETF Frenzy Ignites Investor Interest

The recent filing by an American asset manager, VanEck, seeking to list Solana ETF in the United States has brought cheer to crypto enthusiasts. This makes it a milestone occasion for the Solana blockchain and SOL, given it is the first Solana ETF registration within the U.S.

The news has affected the crypto markets, with SOL’s price experiencing over 6% growth in a matter of days after the filing. Industry observers have estimated that should approval be granted to such a new Solana ETF, it could attract billions of dollars in fund inflows like it did when the first spot Bitcoin ETF was launched.

In contrast, investors concerned with fluctuations in the value of cryptocurrency are shifting their focus toward RCO Finance, where they can invest in more promising and stable ideas. Features like AI trading, asset diversification, and advanced security measures all count for going for this platform to diversify a portfolio.

RCO Finance (RCOF) Emerges as the Go-To Platform

While the Solana ETF craze is picking up steam, only one platform stands out as the most popular among those who want to invest in the Solana ecosystem—RCO Finance (RCOF).

RCO Finance is a novel DeFi Ethereum-based platform that has integrated AI to optimize the investment management process. With the help of elaborate AI algorithms, RCO Finance’s robo-advisory solutions provide suitable financial strategies so that your portfolio can be tended to simultaneously in the short and long run.

The idea now includes trading in the Solana ETF and the Bitcoin and Ethereum ETF. Such a wide variety of investment instruments has attracted numerous investors to RCOF, and thus, the site enjoyed active trading in the past few months. 

In addition, the company’s focus on security and transparency has also helped RCO Finance attract more clients from the crypto trading community.

It implements complex security measures, such as using Fireblocks to safeguard users’ funds with multi-factor authentication and cold wallets. RCO Finance stands out from the other platforms because it directly empowers users to convert cryptocurrencies into real-world products such as stocks, bonds, commodities, and other assets.

It is a novel strategy that avoids the cumbersome fiat conversion procedure and makes it easier for investors from various parts of the globe to access digital currencies.

RCO Finance’s Bright Future Ahead

RCO Finance is poised for a bright future as a cutting-edge investment platform powered by AI and ML. Its advanced robo-advisors deliver tailored investment strategies based on individual goals, risk tolerance, and market dynamics.

The fully AI-driven platform eliminates the need for human intervention, financial advisors, or brokers, offering a user-friendly interface for crypto beginners. With a diverse portfolio of over 12,500 asset classes globally and 1000X leverage, RCO Finance is ideal for investors seeking diversification and profit maximization.

Presale Investors Poised for Massive Gains

The excitement surrounding RCO Finance has already translated into tangible results, with the platform’s ongoing presale selling out rapidly. Over 31 million RCOF tokens have already been sold, with presale investors positioned to reap significant rewards.

Presale participants can access a share of RCO Finance’s daily revenue, including transaction taxes on its DEX, trading fees, debit card fees, and AI Robo Advisor subscriptions.

This revenue-sharing model and a token-burning mechanism could drive the RCOF token price up by over 3,000%, potentially reaching $0.40 or $0.60 at launch. Additionally, SolidProof is auditing the token’s smart contract for security and integrity.

A $1,000 investment in the current presale could yield $30,000 or more returns when RCO Finance lists on exchanges. RCOF token holders can also win cash prizes over $100,000 and other valuable items, increasing the platform’s appeal.

Take this opportunity to join the Solana ETF frenzy and invest in RCO Finance’s presale before it closes. Take advantage of this opportunity and become part of this game-changing project for cryptocurrency investments.

For more information about the RCO Finance (RCOF) Presale:
Visit RCO Finance Presale
Join The RCO Finance Community


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Shiba Inu Coinbase Listing Could Spark Frenzy Towards 101% Gains -… | EVM News

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Shiba Inu’s Future Secured? Coinbase Listing Could Spark Buyer Interest

NOIDA (CoinChapter.com)—Shiba Inu’s SHIB token has experienced notable price declines recently, trading more than 37% from June’s high of $0.000026 to reach a daily low near $0.0000169 on June 29. Despite the recent downsides, Coinbase has announced plans to list Shiba Inu futures contracts.

Shiba Inu Coinbase
SHIB price action over the last seven days. Source: CoinStats

The move comes as part of Coinbase’s broader strategy to enhance its digital asset offerings and cater to the growing demand for diverse trading options. SHIB prices have been in a downtrend since June 6, with the token trying to crab since June 23 before dropping again.

Coinbase Expands Futures Trading with Shiba Inu

Coinbase has announced plans to list Shiba Inu for futures contracts, a news that could attract buyers towards SHIB. The exchange submitted a filing to the Commodity Futures Trading Commission (CFTC) to commence trading soon.

The decision makes Coinbase the first US exchange to offer margined futures contracts for Shiba Inu.

On June 28, Coinbase revealed a new list of futures products for its crypto derivatives market, including Shiba Inu and other popular cryptocurrencies such as Avalanche (AVAX), Chainlink (LINK), Polkadot (DOT), and Stellar (XLM). Trading for these futures products is set to begin on July 15.

Shiba Inu Coinbase
Coinbase’s application to CFTC for listing Shiba Inu futures.

The CFTC filing provides detailed terms of these futures contracts, addressing Shiba Inu’s market volatility, regulatory compliance, and other certification details.

Moreover, Coinbase stated that adding Shiba Inu to its futures contracts would help participants manage risks, speculate on price movements, and engage more deeply with the crypto economy with less initial capital.

The inclusion of Shiba Inu in Coinbase’s futures contracts represents a notable development. The move could help increase the acceptance of meme coins in mainstream financial products, leading to greater adoption and stability over time.

SHIB Price Moving Inside Bullish Setup

Despite the announcement, Shiba Inu’s price has not shown significant improvement, currently trading below $0.000018. The memecoin has seen a 1.8% drop in the past 24 hours, reflecting the overall bearish sentiment.

However, SHIB price has formed a bullish setup called the ‘falling wedge,‘ which could benefit from the Coinbase news.

Shiba Inu Coinbase
SHIB’s price formed a bullish pattern with a 101% upside target. Source: Tradingview.com

A falling wedge pattern features a pair of converging trend lines connecting lower highs and lower lows, forming a narrowing shape that slopes downward.

The pattern typically suggests that an asset’s price, while consolidating in a downtrend, is losing bearish momentum and preparing for a potential reversal to the upside. Typically, a breakout occurs in the direction of the overall trend, which, for a falling wedge, is upward.

To estimate the price target of a falling wedge pattern, traders measure the widest part of the wedge at the beginning of the formation. They then project this distance upward from the breakout point to set a potential target.

An accompanying increase in trading volume can further confirm the reliability of the breakout. Higher volume during the breakout suggests stronger market conviction, supporting the likelihood of a successful price reversal.

According to the rules of technical analysis, the Shiba Inu token price could rally nearly 101% to reach the pattern’s theoretical price target near $0.0000342.


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Don’t Buy Rollblock (RBLK) And BlockDAG (BDAG), Buy ETFSwap (ETFS)… | EVM News

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Out of the top cryptocurrencies set to launch soon, only a few, like ETFSwap (ETFS), have the capability of 33x gain within 30 days. As much as tokens like Rollblock (RBLK) and BlockDAG (BDAG) are also gearing up to launch, experts say they are not the ideal option for a high ROI of up to 30x. 

ETFSwap (ETFS) is poised to lead the likes of Rollblock (RBLK) and BlockDAG (BDAG) as the biggest crypto platform in 2024. It is spearheading the bridging of real-world ETFs and blockchain technology at a time when the ETF market is pulling trillions of dollars in investment funds. No wonder experts predict it will surge by 33% in its first month of launch. 

ETFSwap (ETFS) Takes The Crypto Market By Storm

ETFSwap (ETFS) is changing the narrative for how ETFs are traded. The platform is designed to allow users to trade real-world ETFs using cryptocurrency. This means a user can swap cryptocurrencies with a publicly listed ETF and also get access to perpetual trading options with up to 50x leverage. The ETFSwap (ETFS) platform is also different from the traditional platforms as it gives users full control of their assets alongside 24/7 trading access. It charges no management fees and has a user-friendly interface that makes transactions seamless. Secondly, the registration process is quick; over 10,000 users have completed their registration in record time, and no KYC information is required.

The novelty and features of the ETFSwap (ETFS) platform have influenced the worth of its native token, ETFS. The native token, known as ETFS, has performed well since the presale started. Over 290 million tokens have been sold, and over $2 million has been raised. Currently selling at $0.01831 per token, experts believe it will make more than a 33x run in its first month of launch. 

The expected success is attributed to the platform features, token utility, and incentives. The trading discount it offers is a major reason users purchase it. Users say access to tools such as AI-powered ETF Tracker and Screener are reasons for purchasing it. The token also gives voting rights that allow investors a say in the development of the ETFSwap (ETFS) ecosystem. 

Earning opportunities are other benefits of the ETFSwap (ETFS) token. The token enables investors to earn up to 87% APR yield and 36% from the staking pool, which is linked directly to the ETFSwap (ETFS) liquidity. There are also monthly airdrop rewards for token holders to boost their investments. Added to all of these benefits, experts believe the demand for ETFS will grow due to the upcoming Solana and Ripple ETFs, as hinted by the Ripple (XRP) CEO. Hence, ETFS might enjoy a 108x run once listed on exchanges.

Will Rollblock (RBLK) And BlockDAG (BDAG) Soar Like ETFSwap (ETFS)? 

Rollblock (RBLK) and BlockDAG (BDAG) have been in the conversation of top cryptocurrencies set to launch soon. Still, in their presale stage, experts say they might do 10x respectively. Rollblock (RBLK), which is a play-to-earn token for a blockchain-powered casino platform has been gaining some attention. 

Rollblock (RBLK) offers lots of benefits to users of its DeFi casino platform and investors are looking to take advantage of its revenue-sharing model, among other benefits. Analysts think Rollblock (RBLK) will rise 10x in the first month of launch. The same has been said for BlockDAG (BDAG). 

BlockDAG (BDAG) is another sensational project. This innovative X1 miner app rewards users based on mining hours, referrals, and engagement. Although not offering high value like ETFSwap (ETFS) and Rollblock (RBLK), the strong community and popularity of Rollblock (RBLK) have tipped it to rise by 10x when it launches. 

Conclusion

ETFSwap (ETFS) no doubt offers more value than Rollblock (RBLK) and BlockDAG (BDAG). In fact, being in the ETF industry gives ETFSwap (ETFS) an additional edge. With close to 70% of the entire token allocation for presale already sold, now is the time to invest in the ETFSwap (ETFS) token, which is surprisingly still selling at $0.01831.

For more information about the ETFS Presale:

Visit ETFSwap Presale
Join The ETFSwap Community


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