Crypto Guides, Knowledge & Insights

SEC Lawsuit Over XRP 'Has Gone Exceedingly Well'

Ripples CEO Comments on SEC Lawsuit Over XRP　　Ripple CEO Brad Garlinghouse discussed the SEC lawsuit over the sale of XRP during a fireside chat at the Paris Blockchain Week Summit Thursday.　　The U.S. Securities and Exchange Commission sued Ripple, Garlinghouse, and co-founder Chris Larsen in December 2020 over the sale of XRP, which the securities watchdog said is an unregistered security offering. Ripple has disputed the SECs findings, insisting that XRP is not a security.　　Garlinghouse shared:　　The lawsuit has gone exceedingly well, and much better than I could have hoped when it began about 15 months ago.　　However, he noted that “the wheels of justice move slowly.” In November last year, Garlinghouse said he expects the lawsuit to conclude this year. “Were seeing pretty good progress despite a slow-moving judicial process,” he said at the time.　　Earlier this week, a judge ruled that the SEC cannot edit the contents of emails purporting to show conflicts of interest regarding how the securities regulator dealt with XRP and other crypto tokens, including ether (ETH).　　Ripple is growing despite the ongoing lawsuit, Garlinghouse noted. “We‘re having record growth,” he remarked Thursday. In January, he said that Ripple’s valuation has risen to $15 billion, emphasizing that his companys financial

2022-04-18Deep Dive

Central Bank of Brazil Confirms It Will Run a Pilot Test for Its CBDC This Year

Central Bank of Brazil Advances CBDC Project　　The Central Bank of Brazil has offered details about the advancements it has made regarding its CBDC project, the digital real. Its president, Roberto Campos Neto, hinted at an unspecified test involving the usage of the currency during the final six months of this year. At an event, he declared:　　This is a way to create currency digitization without creating a break in bank balance sheets. This project should have some kind of pilot in the second half of the year.　　Campos Neto also gave hints about the way in which this currency will be used, saying it will be linked to the reserve transference system, a kind of fiat-based payments system. With this pilot program, Brazil could advance to the vanguard of countries that have CBDC programs in South America.　　Campos Neto also offered his take regarding the state of the cryptocurrency market in Brazil. He explained that cryptocurrencies are viewed more as investment assets than as a payment method. However, this could change as more adoption is achieved globally and locally.Path to a CBDC and Regulatory Panorama　　The Central Bank of Brazil has been advancing with its digital real project since last year when it redacted

2022-04-18Deep Dive

AMC Theatres now accepts Dogecoin, Shiba Inu

AMC Theatres has partnered with Bitpay to offer various crypto payment options, including Dogecoin (DOGE) and Shiba Inu (SHIB).　　AMC Theatres CEO Adam Aron announced the development on Twitter.　　In the tweet, Aron said that people across the U.S. using AMC’s iOS and Android apps could use crypto payments to pay for tickets and other services.Not the first crypto to be accepted by AMC　　Increasingly interested in cryptocurrencies, AMC Theatres, called a “meme stock” by some, has been accepting crypto payments for almost six months. The company first started taking crypto payments in November 2021, which allowed customers to purchase movie tickets and other services online using Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH), and Litecoin (LTC).　　The company’s move into Dogecoin and Shiba Inu was expected since early this year when CEO Adam Aron tweeted that the company would accept the doggy coins no later than March 2021. Though slightly overdue, AMC Theatres has now delivered on those promises.Dogecoin soars thanks to Elon Musk　　U.S.-based customers can download the latest version of AMC’s mobile app to access payments with Dogecoin and Shiba Inu. The company did not disclose the other cryptocurrencies it will accept.　　Though eternally popular, as it seems, the dog tokens have received

2022-04-18Deep Dive

Binance say NFTs are a technology looking for new applications

The Head of NFT regulation and traditional adoption. Hai cites the main concern as “what will happen to the traditional industry” if NFTs take over the property market？　　The failure of traditional industries to embrace technology is not a new concept. This is especially true of industries that do not have a large percentage of young talent in decision-making roles. Only 12% of partners in legal firms in the UK are under 35. Indeed, the desire to adopt technology is not the only barrier. Issues around regulation are one of the major topics of 2022, with several talks on the matter being held at PBWS last week. However, Hai believes the solution to progress within the NFT and blockchain spaces is better communication rather than regulation. She states that,　　“Regulation is a one-way thing and it‘s not what we need. What we need is better communication which is a 2-way thing. You set up a rule that you don’t understand and you start to regulate. If you dont communicate that will never work.”The problem with mass adoption　　Hai acknowledges that the gateway to NFTs is still a problem for mass adoption. Many people still dont know how to get into the crypto world,

2022-04-17Deep Dive

5 Launchpads to Look Out For in the Crypto Space

In the world of cryptocurrency, launchpads are becoming increasingly popular. They address a unique challenge for both crypto-investors and developers and have gained a lot of popularity as a result of the benefits they provide. 　　Although the launchpad phenomenon is increasingly typical among cryptocurrency experts, the majority of people have no idea how launchpads work and their intended uses.What is a Crypto Launchpad？ How do they Work？　　Launchpads are incubation platforms that enable blockchain projects to raise capital via crowdfunding. These platforms also enable users to buy into crowdfunded projects at a low price due to being early investors.　　Projects can use launchpads to raise funds through different methods including:　　Initial Exchange Offerings (IEOs)　　Token sales are conducted through centralized exchanges, users usually deposit a certain amount of tokens (USDT or ETH for example) and then get the crowdfunded projects tokens in return.　　Initial Dex Offerings (IDOs)　　Like IEOs but done through a decentralized exchange (DEX), users usually stake the platform‘s native token for a certain period to gain an allocation or receive the project’s tokens in return.　　Initial Game Offerings (IGOs)　　This system is similar to IDOs, instead, users usually receive in-game NFT items in return for investing in an incubated project.　　In this post, well be looking

2022-04-17Deep Dive

The case for Decentralized Private Networks over traditional VPNs

When the internet was introduced in the 1990s, it was a new way for people to access information and connect globally. Unfortunately, the internet later became a hub where governments and companies track your activities, collect data, and invade your privacy. During this period, Virtual Private Networks (VPNs) became a service that helped mask a users online identity and allowed the user to surf the internet with “privacy.”　　A VPN hides your IP address by routing your connection through a physical server, giving you a new IP address. This new IP address could help you access geo-restricted content, side-step firewalls, and protect your identity. In addition, these VPN services use centralized servers worldwide, allowing users to connect to use its service. 　　VPN services store your data and browsing history and monitor your online activity. Unfortunately, this data is often sold to third parties and can be easily subpoenaed by government officials. In addition, centralized servers are prone to be attacked as they are treasure troves for hackers looking for personal data. 　　A blockchain-based solution called a decentralized VPN (DPN) had become a solution to these problems. Decentralized Private Networks (DPN) are Peer-to-Peer (P2P) networks that take out the third party that

2022-04-17Deep Dive

Bitcoin struggling at $40K with crypto market liquidity drying up

Bitcoin lost 5% over the last week, and was trading at $40.2K as of the time of this writing as Ethereum fell 5.8%, and is trading at $3K.　　The global crypto market valuation was $1.88 trillion, a 0.19% decrease over the last day. Liquidity in the market also dropped as the total crypto market volume for the day stood at $49 billion, which makes a 18.06% decrease.　　The majority of technical indicators are neutral, although short-term buyers are likely to remain active between the $35K-$38K support zone, similar to what occurred earlier this year.Outlook　　The 100-week moving average, which is now 35.3K, serves as a key trend indicator on the weekly chart. A recovery of BTC will require buyers to keep it above that level.　　The 40-week moving average, $46.8K, continues to act as a strong resistance point.　　In late March, the price was within close reach of an upside target of $50,966, but it retreated, just as it did last September.　　During the past 30 days, popular dog-themed meme coins SHIB and DOGE gained as much as 20%. Price rises were largely driven by the broader crypto recovery which included alternative cryptocurrencies, indicating traders greater willingness to take on risk.　　Additionally, upsides in the crypto market

2022-04-17Deep Dive

Why We Can’t Just ‘Stop Printing Money’ to Get Inflation Down

With the Bank of Canada announcing an oversized interest rate hike this week, it might seem like central banks are coming to rescue us from inflation once again. Yet while they did play an important role in mitigating a COVID-induced recession, central banks dont have the power to solve our inflation problem.　　Theres no question that the inflation outlook today is worrying. With inflation hitting 5.7% in March in Canada, we are facing a perfect storm of inflationary pressures from a combination of supply chain bottlenecks, pent-up demand and massive increases in energy prices from Russian sanctions.　　As politicians start to make noise about inflation, we need to be careful not to accept the outdated assumption that central banks can control inflation by limiting the money supply.　　Conservative Party leadership hopeful Pierre Poilievre recently asserted that the solution to inflation is to “stop the central bank from printing money to pay for government spending.” This is not only factually incorrect (the Bank of Canada stopped purchasing large amounts of government bonds back in October of last year), but also outdated.The legacy of monetarism　　Back in the late 1970s and early 1980s, Ronald Reagan and Margaret Thatcher capitalized on public anxiety around rising prices by

2022-04-17Deep Dive

Regulatory Arm of UAE Financial Centre Releases Defi Discussion Paper

The regulatory arm of UAE‘s financial centre, Abu Dhabi Global Market (ADGM), has released a discussion paper that is seeking stakeholders’ comments regarding the regulation of decentralized finance (defi). The paper also makes clear the regulators stance regarding the anonymity of defi transactions.　　Paper Not Guidance for Financial Institutions　　The FSRA, a regulatory arm of the UAE financial centre ADGM, has issued a discussion paper that seeks the publics comments on policy considerations for decentralized finance (defi).　　The release of the document comes as the defi space has seen strong growth both in terms of the number of users as well as the value of such transactions, the FSRA acknowledges in the paper.　　According to the regulatory arm, the discussion paper will serve “as a starting point for a dialogue on how Defi may be eventually regulated.” The FSRA nevertheless clarified that the paper is not a “guidance” for financial institutions. Instead, the paper contains the regulators view on the likely medium-term direction over the course of between five and ten years.　　In addition, the discussion paper contains the regulatory arms so-called “high-level policy positions on how the FSRA might consider regulating Defi.” The document also describes what a future regulatory framework for defi will

2022-04-17Deep Dive

DAO regulation in Australia: Issues and solutions, Part 3

Crypto anarchy is unlikely to be the future that the majority of people support. Company regulation, in its essence, has a lot of positive aspects or at least, a good intention, albeit one often embodied in a red tape that stifles business. Nevertheless, nowadays, corporation rules and regulations are formalized to the extent that they could be put in the machine code. So, the role of the government is to establish mandatory standards for those DAOs that would like to operate in the Australian market.Non-digital　　There are cases when a written legal text is necessary. These are situations where the legal interaction goes beyond the programs code and requires integration with the real world. In this case, there must be formal legal documents and a liable person responsible for delivering business promises to consumers and investors.　　There can be two types of events in a blockchain network: 1. Internal. For example, the transfer of a token in exchange for a cryptocurrency payment. It can be completely automated because both elements — the token and the cryptocurrency — are internal digital elements of the system. 2. External. But if something is external to the network, it will require human interaction and interaction with

2022-04-16Deep Dive

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