Category Archives: sandbox

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MANA und SAND: Metaverse-Token geben weiterhin den Ton an

Decentraland Logo auf Smartphone
Während der Großteil der Kryptowährungen einiges an Kursverlusten einbüßen muss, verzeichnen vor allem Metaverse-affine Token neue Rekordwerte. Ist wieder einmal der Hype rund um die virtuelle Parallelwelt Schuld? Das Marktupdate.
 
Source: BTC-ECHO

Der Beitrag Metaverse-Token geben weiterhin den Ton an erschien zuerst auf BTC-ECHO.

Bitcoin korrigiert, doch Sandbox (SAND) hält dagegen: Die Gründe!

Sandbox (SAND)
Während Bitcoin und der Großteil des Krypto-Space crashen, ist Sandbox (SAND) eine der wenigen Kryptowährungen, die sich dem Trend entgegenstellt – woran liegt das?
 
Source: BTC-ECHO

Der Beitrag Bitcoin korrigiert, doch Sandbox (SAND) hält dagegen: Das sind die Gründe erschien zuerst auf BTC-ECHO.

Russia to Test Crypto in 4 Regions

Russia crypto

News outlet Cryptopolitan has reported that Russia is now preparing to test innovative methods of money transfer, including the use of cryptocurrency, in four regions. It says that the economics ministry has already drafted a bill to set up a monitoring mechanism.

Under the new bill, the testing of various cryptocurrencies can be conducted by firms, businesses, individuals, and specialists in the economic zones legally without the worry of violating laws. The draft law is thought to include advancement of artificial intelligence, neurotech, quantum tech, robotics, cybernetics, and amplified reality, in addition to cryptocurrency and blockchain technology.

The bill acknowledges that innovative tech often fails because of a lack of support from legal frameworks, so the plan’s major goal is to promote ventures in these emerging fields, boosting the process of modernization with flexible control, while taking advantage of lower costs and resources needed to develop advanced goods and facilities.

Apparently, these supervisory sandboxes will slowly include crypto into traditional financial institutes.

The sandbox approach is increasingly popular, especially with countries wanting to compete as a blockchain and innovation hub to rival the likes of Crypto Valley in Switzerland. Not all countries have ensured that this innovation sandbox covers crypto, such as the recent one set up by the Reserve Bank of India, which specifically denies cryptocurrency access.

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Israel Securities Authority Recommends Crypto Regulation

Israel Securities Authority Recommends Crypto Regulation

The Israel Securities Authority (ISA) has published its final report on the cryptocurrency industry and it may be moving forward with regulations.

The news as reported by local business outlet Globes detailed the findings of the committee tasked with the responsibility of drafting a regulatory framework for the industry. It recommended bringing the industry under the purview of the security laws as concerning the issuance, and trading of cryptocurrencies that constitute securities.

The committee, headed by Securities Authority chief economist Dr Gitit Gur-Gershgoren and former corporate finance department Adv Moti Yamin, has also said that supervision can contribute to progress in the cryptocurrency sector considering that there is a significant connection between the regulator and the cryptocurrency industry.

It, however, seems the regulator will be keeping an open mind towards the emerging digital assets. However, for the industry to continue functioning in the jurisdiction, operators have been urged to contact the securities authority before engaging in any form of cryptographic asset offering, and cryptocurrency exchanges will as well be supervised.

The committee had submitted an earlier report in March 2018, however, according to the recent report, so much has changed in the industry. The report identified changes in both the technological aspects and the nature of tokenized asset offerings, especially how they are conducted in the western markets – in accordance with the securities laws. Gur-Gershgoren summarily said:

“The cryptographic assets field proved to us over the past year that a careful and prolonged consideration of this dynamic and innovative sector enables us to make decisions that preserve the balance between the need to promote innovation and the obligation to preserve investors’ interests. The excitement that permeated the sector in 2017 has cooled, but the technology is here to stay.”

He further noted that the changing trends in the industry although require as much supervision as possible, reinforces the idea of formulating regulations that support its development. While he pointed out that technological innovation can potentially streamline, improve, and enhance competition in the capital market and the entire economy, the place for a sandbox regulatory environment was considered pivotal to shaping the regulations alongside the innovations brought about by the technology.

For many jurisdictions, a sandbox has been the preferred route towards regulation before issuing a comprehensive rule book in order to better understand the sector. Recently, Bahrain’s central bank launched its blockchain sandbox program to allow operators to continue with their activities under supervision while consultations for prospective framework proceeds.

Last year, Hong Kong’s regulator said it would allow a sandbox environment to determine its regulatory stance.

 

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Japan Approves Trial for Yen-Backed Stablecoin Settlement

Japan Approves Trial for Yen-Backed Stablecoin Settlement

A subsidiary of Japanese internet group Digital Garage has been approved for the first blockchain finance project authorized by the government’s new regulatory sandbox. Crypto Garage will test the issuance of a Japanese yen-backed stablecoin using Blockstream, a Bitcoin infrastructure startup.

Excited to announce @CryptoGarageInc, a Joint Venture between @DigitalGarage, Tokyo Tanshi & @Blockstream, developing #SETTLENET & $JPY #stablecoin for #LiquidNetwork. Alongside the JV, @Blockstream took an additional $10MM strategic investment from DG. 🌊 https://t.co/mOvMsogMOX pic.twitter.com/j82dusL2gO

— Blockstream (@Blockstream) January 21, 2019

A new platform called SettleNet has been launched by Crypto Garage with development aid from Blockstream to conduct the trials, which utilizes the latter’s inter-exchange settlement network Liquid. Settlenet will be used both to test the issuance of the stablecoin as well as conduct payment settlements between it and alternative cryptocurrency assets.

The proof-of-concept trial has been proposed to last the length of one year and will involve only Japanese licensed cryptocurrency exchanges with trades between the yen-backed stablecoin and Blockstream’s Bitcoin-pegged token, Liquid Bitcoin (L-BTC), taking place with restricted volumes for now.

According to Crypto Garage, the network will allow atomic swaps between the two digital currencies for instant trades, creating ”rapid, secure and confidential transfer of the crypto assets while eradicating counterparty risk”.

Digital Garage has been working alongside Blockstream since November 2017 to develop blockchain financial solutions in Japan. The Cabinet Secretariat of Japan is responsible for managing this trial.

 

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