Blockchain
Brane Welcomes Regulatory Action on Unregistered Crypto Trading Platforms, Focus on Regulated Custody
Calgary, Alberta–(Newsfile Corp. – December 15, 2022) – Brane Inc. (“Brane”), a Canadian fintech company recognized as one of Canada’s leading digital asset technology companies, welcomes the Canadian Securities Administrators’ (CSA) December 12th announcement that CSA’s member regulators will consider enforcement action to bring certain crypto trading platforms into compliance with Canadian securities law.
“In the wake of the FTX collapse, protecting Canadian investors from high-risk crypto platforms has never been more urgent,” said Matt Pierce, interim President of Brane Trust. “With this announcement, regulators have placed a spotlight on the importance of regulated digital asset custody to keep investor assets safe — and that’s exactly the challenge that Brane is built to solve.”
Brane Trust, a wholly owned subsidiary of Brane Inc., is a trust company regulated by the Government of Alberta for the purpose of digital asset custody. Incorporated in September 2021, Brane Trust is progressing toward registration by Alberta’s Ministry of Treasury Board and Finance and status as a qualified custodian under Canadian securities law, which will enable the company to provide industry-leading, regulated custody for crypto asset trading platforms and exchange-traded funds (ETFs) as required by the CSA.
The CSA’s recent announcement pertains to crypto trading platforms (commonly referred to as “exchanges”) that are accessible by Canadians, even if their operations are located outside of Canada. While a growing number of crypto exchanges have engaged with securities regulators to bring their operations into compliance, Canadian investors remain at risk from un- or under-regulated exchanges with questionable asset management and custodial practices.
“Thanks to the work of our securities and financial institution regulators, Canada is a global leader in balancing investor protection with blockchain innovation,” said Pierce. “We look forward to continued collaboration with regulators and industry partners to bring trust, confidence, and stability to Canada’s digital asset sector.”
For more information:
Emile Scheffel
[email protected]
About Brane
Founded in 2017, Brane Inc. is a carbon neutral Canadian fintech company dedicated to setting the standard in digital asset custody. Brane Vault, its core digital asset custody technology, is third-party certified to stringent global standards including SOC 2 Type 1, ISO 27001, ISO 27017, and NIST CSF Tier 4, and insured against theft and crime. Brane has been recognized as one of Canada’s Best Workplaces in Financial Services and Start-Ups categories by Great Place to Work®, and one of Canada’s 10 Best and Brightest Companies by Canadian Business magazine.
Forward-Looking Statements
This press release contains forward-looking information and forward-looking statements (together, “forward-looking statements”) within the meaning of applicable securities legislation, which reflect Brane’s current expectations regarding future events, including statements relating to: the ability of Brane to become carbon neutral, the ability of Brane and other market participants to reduce greenhouse gas emissions. In some cases, but not necessarily in all cases, forward-looking statements can be identified by the use of words or phrases such as “create”, “continue to”, “expand”, “accelerate”, “enhancing”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” occur. Forward-looking statements are based on a number of assumptions and are subject to a number of risks and uncertainties, many of which are beyond Brane’s control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking statements. All forward-looking statements made in this press release are made as of the date hereof and Brane does not undertake any obligation to update such forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
Blockchain
Glidelogic Corp. Announces Revolutionary AI-Generated Content Copyright Protection Solution
Blockchain
Ethereum ETFs Aren’t Blockchain But Is A Revolutionary Tech: Top 6 Amazing Reasons To Invest In Them
The financial landscape is rapidly evolving, with the integration of blockchain technology and cryptocurrencies becoming more prominent. Among these, Ethereum ETFs (Exchange-Traded Funds) have emerged as a significant investment vehicle, offering exposure to the Ethereum blockchain’s native cryptocurrency, Ether (ETH), without requiring direct ownership. However, it’s crucial to understand that Ethereum ETFs are distinct from the blockchain itself and serve different purposes in the investment world.
Understanding Ethereum and ETFs
Ethereum: A decentralized platform that enables the creation and execution of smart contracts and decentralized applications (dApps). It operates using its cryptocurrency, Ether (ETH), which fuels the network.
ETF (Exchange-Traded Fund): A type of investment fund that holds a collection of assets and is traded on stock exchanges. ETFs can include various asset classes, such as stocks, commodities, or bonds.
Ethereum ETFs: The Intersection of Traditional Finance and Cryptocurrency
An Ethereum ETF provides a way for investors to gain exposure to the price movements of Ether without directly purchasing the cryptocurrency. This is achieved through an ETF structure, where the fund holds assets linked to the value of Ether, and investors can buy shares of the ETF on traditional stock exchanges.
Key Features of Ethereum ETFs:
- Indirect Exposure: Investors gain exposure to Ether’s price changes without needing to manage or store the cryptocurrency themselves.
- Regulatory Compliance: Unlike the relatively unregulated cryptocurrency market, ETFs operate under the oversight of financial regulators, offering a layer of investor protection.
- Accessibility: Ethereum ETFs are available through traditional brokerage platforms, making them accessible to a broader range of investors.
Why Invest in an Ethereum ETF?
- Diversification: Including an Ethereum ETF in a portfolio can provide exposure to the cryptocurrency market, potentially enhancing diversification beyond traditional assets.
- Convenience and Familiarity: ETFs are a familiar investment product, simplifying the process of investing in cryptocurrencies.
- Professional Management: ETF managers handle the investment decisions, including the buying and selling of assets, which can be advantageous for those less familiar with the cryptocurrency space.
- Regulatory Oversight: ETFs are subject to regulatory scrutiny, potentially offering more safety and transparency compared to direct cryptocurrency investments.
- Potential for Growth: As the cryptocurrency market grows, ETFs linked to assets like Ether may benefit from rising prices.
Key Differences Between Ethereum and Ethereum ETFs
While both are related to the Ethereum blockchain, Ethereum itself and Ethereum ETFs represent different forms of investment:
- Ethereum (ETH):
- Direct ownership of the cryptocurrency.
- Full exposure to Ethereum’s features, including staking and network participation.
- Traded on cryptocurrency exchanges.
- Highly volatile and largely unregulated.
- Ethereum ETF:
- Indirect exposure through shares representing Ether’s value.
- Traded on traditional stock exchanges under regulatory oversight.
- Offers a more stable and familiar investment structure.
- Typically lower volatility compared to direct cryptocurrency ownership.
Future Considerations for Ethereum ETFs
The approval and launch of Ethereum ETFs mark a significant milestone in bringing cryptocurrencies closer to mainstream finance. They offer a convenient and regulated means for investors to gain exposure to the growing digital assets market. However, they also come with limitations, such as not allowing direct participation in the Ethereum ecosystem’s innovations, like dApps and smart contracts.
As the market evolves, we may see more sophisticated financial products that better capture the full potential of the Ethereum ecosystem. For now, Ethereum ETFs provide a balanced option for those interested in cryptocurrency exposure within the framework of traditional finance.
In conclusion, while Ethereum ETFs offer a gateway into the world of digital assets, they should be viewed as complementary to, rather than a replacement for, direct investment in the underlying blockchain technologies. Investors should carefully consider their investment goals, risk tolerance, and the unique attributes of both Ethereum and Ethereum ETFs when making investment decisions.
Source: blockchainmagazine.net
The post Ethereum ETFs Aren’t Blockchain But Is A Revolutionary Tech: Top 6 Amazing Reasons To Invest In Them appeared first on HIPTHER Alerts.
Nexo, a leading institution in the digital assets industry, has reinforced its commitment to data security by renewing its SOC 2 Type 2 audit and attaining a new SOC 3 Type 2 assessment without any exceptions. This rigorous audit process, conducted by A-LIGN, a respected independent auditor specializing in security compliance, confirms Nexo’s adherence to stringent Trust Service Criteria for Security and Confidentiality.
Key Achievements and Certifications
- SOC 2 and SOC 3 Compliance:
- SOC 2 Type 2: This audit evaluates and reports on the effectiveness of an organization’s controls over data security, particularly focusing on the confidentiality, integrity, and availability of systems and data.
- SOC 3 Type 2: This public-facing report provides a summary of SOC 2 findings, offering assurance to customers and stakeholders about the robustness of Nexo’s data security practices.
- Additional Trust Service Criteria:
- Nexo expanded the scope of these audits to include Confidentiality, showcasing a deep commitment to protecting user data.
- Security Certifications:
- The company also adheres to the CCSS Level 3 Cryptocurrency Security Standard, and holds ISO 27001, ISO 27017, and ISO 27018 certifications, awarded by RINA. These certifications are benchmarks for security management and data privacy.
- CSA STAR Level 1 Certification:
- This certification demonstrates Nexo’s adherence to best practices in cloud security, further solidifying its position as a trusted partner in the digital assets sector.
Impact on Customers and Industry Standards
Nexo’s rigorous approach to data protection and compliance sets a high standard in the digital assets industry. By achieving these certifications, Nexo provides its over 7 million users across more than 200 jurisdictions with confidence in the security of their data. These achievements not only emphasize the company’s dedication to maintaining top-tier security standards but also highlight its proactive stance in fostering trust and transparency in digital asset management.
Nexo’s Broader Mission
As a premier institution for digital assets, Nexo offers a comprehensive suite of services, including advanced trading solutions, liquidity aggregation, and tax-efficient credit lines backed by digital assets. Since its inception, the company has processed over $130 billion, showcasing its significant impact and reliability in the global market.
In summary, Nexo’s successful completion of SOC 2 and SOC 3 audits, along with its comprehensive suite of certifications, underscores its commitment to the highest standards of data security and operational integrity. This dedication positions Nexo as a leader in the digital assets space, offering unparalleled security and peace of mind to its users.
Source: blockchainreporter.net
The post Nexo Reaffirms Commitment to Data Protection with SOC 3 and SOC 2 Compliance appeared first on HIPTHER Alerts.
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