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Crypto: Cardano Anticipates MiCA Compliance with this Innovation!

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In a proactive move, the Cardano Foundation, in collaboration with the Crypto Carbon Ratings Institute (CCRI), published sustainability indicators for the Cardano network, ensuring compliance with the upcoming MiCA regulations in the EU. This initiative highlights Cardano’s energy-efficient consensus protocol and underscores its commitment to a sustainable and transparent approach to cryptocurrency.

The report published by the Cardano Foundation and CCRI reveals that the crypto network operates on a consensus protocol consuming significantly less electricity than proof-of-work (PoW) protocols. As of May 2024, the network’s total annual electrical consumption was 704.91 MWh, a figure well below that of PoW-based networks like Bitcoin. Cardano’s sustainability indicators comply with the regulatory technical standards (RTS) proposed by ESMA under the MiCA framework. These indicators cover energy use, greenhouse gas emissions, waste production, and the use of natural resources.

The Cardano Foundation has taken the lead in complying with MiCA sustainability indicators six months before the regulatory deadline, establishing a new standard for the industry within the European Union. Frederik Gregaard, CEO of the Cardano Foundation, stated that this initiative aims to ensure adherence to upcoming EU regulations and set a benchmark for the crypto industry.

Cardano’s initiative demonstrates how blockchain networks can address ESG concerns, particularly environmental impact, while maintaining transparency and efficiency. With the MiCA regulations coming into effect in December, affecting crypto asset service providers, ecosystems such as Cardano will be impacted. The Cardano Foundation and CCRI have taken a significant step towards sustainability and regulatory compliance, positioning Cardano as a leader in adopting responsible and transparent practices. This move could encourage broader adoption of blockchain technology in a sustainable manner, reinforcing the trust of regulators, investors, and users in the crypto industry.

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Source: cointribune.com

The post Crypto: Cardano Anticipates MiCA Compliance with this Innovation! appeared first on HIPTHER Alerts.

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Switzerland Regulatory Technology Business Report 2024: Market to Surpass $550 Million by 2029, Driven by Collaborative Opportunities and Data Privacy Solutions

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Swiss RegTech Market

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Blockchain Life 2024: The Visionary and Tectum CEO Alex Guseff Among Featured Speakers

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DLA Piper’s crypto tokenization engine TOKO relaunches as Scintilla

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Following a management buy-out by the management team at TOKO FZE, the business has been rebranded as Scintilla, the revolutionary platform providing on-chain solutions and services to make investments more inclusive, accessible, and efficient. Having been developed within DLA Piper’s Law& innovation portfolio, TOKO – now Scintilla has a fresh brand identity, new leadership, and innovative product offerings. Scintilla is set to reshape the future of finance by enabling businesses to unlock the power of blockchain technology across various asset classes, with DLA Piper remaining as a minority shareholder.

Regulated by Dubai’s Virtual Assets Regulatory Authority (VARA), Scintilla is one of the first digital asset companies to gain full market licenses, marking a significant milestone in the sector’s landscape. Being a regulated entity underscores Scintilla’s commitment to the highest standards of compliance and security while pioneering new solutions for tokenization in the global market.

Innovating Finance Through Tokenization

Scintilla offers a comprehensive suite of tokenization services designed to bring liquidity, transparency, and efficiency to traditional finance sectors. From tokenized financial products, and real estate all the way to new legal funding products, Scintilla’s digital asset solutions enable clients to tokenize assets that were previously inaccessible to investors or illiquid.

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Scintilla’s services include:

Advisory Services: The gateway to successful market entry. From initial opportunity assessment to strategic development of game-changing tokenization-based solutions.

Use Case Development: Bringing products to life. From initial POC development and iteration towards MVP all the way through to the full market launch.

Broker/Dealer Services: Creating new markets. Regulated primary market trading, ensuring the highest levels of trust and security within the tokenization space.

Exchange Services: Universal participation. Seamless, secure secondary trading of tokenized assets, with industry-leading technology and compliance standards.

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Scintilla is uniquely positioned to capitalize on the confluence of Dubai’s world-leading regulatory environment, cutting-edge technology, and the burgeoning RWA market.

A New Era for Scintilla

The relaunch of Scintilla represents more than just a rebranding—it signifies the company’s growing ambition to lead in the digital asset space. With an expanded team of industry experts, including continuing Board representation from DLA Piper, and a clear strategic vision, Scintilla is set to drive the adoption of tokenization in traditional financial markets.

“Our relaunch marks the beginning of an exciting new chapter for Scintilla and the wider industry. We are committed to pushing the boundaries of what is possible in digital finance while ensuring our solutions are underpinned by strong regulatory compliance,” said Tim Popplewell, CEO of Scintilla. “With our new suite of products and services, we are empowering investors to transform the way they manage and access value.”

Jean-Pierre Douglas-Henry, Managing Director, Sustainability and Resilience, DLA Piper added: “Innovation is a key strand in our business strategy. As our business focuses on developing and nurturing innovations that add significant value to our clients through our Law& innovation program, it is fantastic to see this solution spun out into the thriving digital asset space for the next stage of its growth and development.”

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