Blockchain
Euro Tether delisted from Bitstamp due to MiCA
Bitstamp, a leading cryptocurrency exchange, has announced its decision to delist Euro Tether (EURT), a stablecoin pegged to the euro, in anticipation of the full enforcement of Europe’s Markets in Crypto-Assets Regulation (MiCA) on June 30. This strategic move underscores Bitstamp’s commitment to full compliance with emerging European regulations.
The History and Decline of Euro Tether
Launched in November 2021, Euro Tether was one of the first euro-denominated stablecoins available on Bitstamp. However, its market capitalization has significantly declined, dropping from approximately $236 million in February 2022 to around $33 million, according to CoinGecko. This is in stark contrast to USD Tether (USDT), another stablecoin issued by Tether, which remains the largest by market value, exceeding $110 billion.
James Sullivan, Bitstamp’s managing director for the United Kingdom, emphasized the exchange’s proactive approach towards MiCA compliance. He highlighted Bitstamp’s strong foundation in compliance and security, which positions it to adapt positively to regulatory changes with minimal disruption to its customers. Sullivan noted that the delisting of EURT would impact only a small percentage of clients holding the euro-pegged stablecoin.
Handling Other Electronic Money Tokens (EMTs)
Bitstamp has also clarified its handling of other Electronic Money Tokens (EMTs) not denominated in euros. These EMTs, which are already trading on the platform and do not fall under MiCA regulation, will remain available with certain usage restrictions for European customers. Bitstamp will not list new EMTs that do not meet MiCA standards nor promote such tokens.
Industry Responses to MiCA Regulation
Other cryptocurrency exchanges have also taken significant measures in response to MiCA regulation. For example, Uphold chose to delist USDT and six other stablecoins on June 18 to align with the new regulatory framework. Tether’s CEO, Paolo Ardoino, has publicly criticized the European regulation and indicated that the company does not intend to conform to MiCA guidelines.
Meanwhile, Binance is making adjustments to ensure compliance with MiCA. The exchange is notifying its European Economic Area users about changes, specifically categorizing stablecoins into “regulated” and “unauthorized” based on their adherence to the new rules. Binance plans to transition users from unauthorized to regulated stablecoins and will employ a “sell-only” strategy for non-compliant tokens through its Binance Convert function.
These proactive adjustments by major exchanges like Bitstamp and Binance highlight significant shifts within the cryptocurrency market as operators align with new regulatory landscapes. Their efforts aim to foster a safer and more standardized environment for crypto asset trading across Europe, reflecting a broader movement within the financial technology sector to embrace regulatory changes that promise to enhance consumer protection and market stability.
Source: coinfomania.com
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Blockchain
UNICC and ShelterZoom Developed a Secure Document Tracking and E-Signature Solution for the UN System
The United Nations International Computing Center (UNICC) and ShelterZoom are pleased to announce a new innovative blockchain-based solution for controlling and protecting the digital data of UN entities and other international organizations. As the largest strategic partner for digital solutions and cybersecurity within the UN system, UNICC has partnered with ShelterZoom, a leading data and content protection and ownership SaaS company behind innovations such as Document Token® technology and Document GPS®.
Building upon the 50 years of experienced innovation from the UNICC, the two organizations collaborated on a transformational undertaking offering robust protection and promising increased productivity for document tracking and management. ShelterZoom will contribute its proprietary document tokenization technology, along with its data protection, document tracking and e-signature solutions to deliver a white-labeled platform, giving member organizations a greater level of governance over their content. Using ShelterZoom’s flagship proprietary Single Source Of Truth® technology, the solution provides a means for each file to be protected individually without changing user normal habits instead of having to rely solely on protecting files at the database level. This ‘singularity and control’ is a new era in cybersecurity and document management, which has never been seen before at this level of seamless integration with existing tools.
“The synergy between what we deliver and the goals of the United Nations are a perfect match for Single Source Of Truth,” said Chao Cheng-Shorland, CEO and Cofounder of ShelterZoom. “We have said from the beginning that it is time to think about cybersecurity in a completely new way and in doing so we have created a solution to address other operational pain points while simultaneously solving one of the biggest challenges facing the global population today. The UN is at the frontlines of changing the world for the better and its forward-thinking approach to using technology to address fundamental issues is critical in improving livelihoods for all.”
ShelterZoom solutions have already been in use across dozens of industries and with this new commercial partnership, they can now extend their usefulness to the UN family and other international organizations. The revolutionary method for complete document tracking with built-in productivity tools, such as digital signatures and a market-first method for organizing files inside email, is an all-in-one solution built for a global workforce. The Single Source of Truth model has the added benefit of decreasing the carbon footprint created by excessive digital waste, further supporting the sustainability goals of the United Nations.
“The need for robust cybersecurity and data protection has never been greater,” said Sameer Chauhan, Director of UNICC. “By working together with ShelterZoom, we have developed a cutting-edge tool tailored to the needs of the UN family. Our unwavering commitment to providing best-in-class solutions ensures we continue to support the digital transformation and modernization of the UN system and other international organizations.”
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