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Are You in the World of Crypto? Here’s How to Avoid Major Problems According to the AMF!

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The regulation of cryptocurrencies in France has reached a significant milestone as the Autorité des Marchés Financiers (AMF) has begun accepting applications from crypto asset service providers. This proactive approach comes ahead of the implementation of the European Union’s (EU) Markets in Crypto Assets (MiCA) regulations, set to take effect on December 30th. The AMF’s initiative aims to facilitate a smooth transition for service providers into the new regulatory framework.

Application Details for Crypto Service Providers

The AMF announced on its website that applications have been open since July 1st. This allows crypto asset service providers ample time—about six months—to prepare for compliance with MiCA requirements. The EU will enforce MiCA regulations starting December 30th, with the AMF specifying that ten types of crypto asset services will require EU authorization from that date. These services include:

1. Custody and administration of crypto assets on behalf of clients.

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2. Operation of a crypto asset trading platform.

3. Cryptocurrency trading.

4. Execution of crypto asset orders on behalf of clients.

5. Provision of advice on cryptocurrencies.

6. Portfolio management involving crypto assets.

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7. Offering of crypto transfer services.

Compliance and Security Obligations

Under MiCA, crypto asset service providers must adhere to various compliance and security obligations. The AMF highlights several key requirements:

– Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF): Providers must implement robust measures to prevent money laundering and terrorist financing activities.
– Cybersecurity Obligations: Stringent cybersecurity measures must be in place to protect digital assets and client data.
– Custody and Segregation of Assets: Where applicable, providers must comply with regulations concerning the custody of funds and the segregation of assets.

Transition Periods and Full Compliance Deadline

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The AMF has indicated that there will be transition periods in certain circumstances to facilitate the shift to the new regulatory framework. However, all EU crypto asset service providers must obtain MiCA authorization by July 2026.

Impact on the Crypto Asset Sector

The introduction of these regulations is aimed at enhancing trust and security in the crypto asset sector. While the new standards promote greater transparency and stability, they also present challenges, especially for small businesses. These entities may find it difficult to meet the complex and potentially costly regulatory requirements.

The AMF’s proactive steps towards the implementation of MiCA regulations mark a crucial development in the regulation of cryptocurrencies in France. This move is expected to strengthen the market’s integrity and protect investors, setting a new standard for the crypto industry within the EU.

Source: cointribune.com

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The post Are You in the World of Crypto? Here’s How to Avoid Major Problems According to the AMF! appeared first on HIPTHER Alerts.

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Blockchain

Everdome and Alpine Web3 Redefine Fan Engagement with Bold Metaverse Vision

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Alpine Web3 and Everdome are joining forces to push the boundaries of fan engagement through immersive digital experiences. Building on Alpine’s storied motorsport legacy, this partnership will bring fans closer to the action with metaverse pop-up spaces and interactive events.

As Alpine Web3 shifts its focus beyond motorsport, this collaboration aims to redefine sports marketing by merging the physical and digital worlds, offering fans a dynamic and innovative way to connect with their favorite teams and events.

Alpine is a brand with a long and successful history, founded in 1955 by Jean Rédélé and quickly building success across multiple motorsports disciplines. With titles across multiple motor racing disciplines such as the World Rally Championship, 24 Hours of Le Mans, success in F1® racing and the FIA WEC Endurance World Championship, Alpine has constantly innovated for success.

Now Alpine seeks to expand their innovation beyond motorsport, looking for ways to engage new audiences with experiential sports marketing as the real and digital worlds converge.

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This two-way partnership will see Everdome work on a variety of experiential Alpine focussed destinations, kicking off with a series of metaverse pop-up spaces for Alpine Web3, released to coincide with the major sporting events across their race calendar, from Formula One® and beyond.

Everdome will also create interactive events with Alpine Web3 and their partners, allowing global audiences to take one step closer to the action as we explore the future of sports fan engagement together.

Last year, Everdome and Alpine first collaborated with an exclusive metaverse AMA with their F1® driver Pierre Gasly and Binance Fan Token, creating an interactive event where the audience could join with their avatar-likenesses inside a unique environment, bringing them closer to their racing heroes inside a digital world.

“Experiential marketing is on the rise as audiences react positively to immersive, interactive experiences which bring a feeling of deeper involvement with their sporting teams and heroes.’’ said Artur Kaczmarczyk, Chief Growth Officer for Everdome. “This new partnership will explore a future of sports fan engagement, creating a series of activations across the motorsports racing calendar to let global Alpine fans feel closer to the team, drivers and brand.’’

Beginning with metaverse spaces highlighting images and videos from Alpine inside fully interactive, avatar-led digital environments, Everdome will go on to create a dedicated and permanent metaverse footprint for Alpine Racing inside their digital headquarters, showcasing their glorious history, exciting present and promising future.

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“This collaboration with Everdome underlines our commitment to constant innovation through leveraging the latest technology”, said Guillaume Vergnas, Head of Merchandising, Licensing, Esports & Web3 at Alpine. ‘’Motorsport has always been about passion, spectacle and interaction, and with Everdome we seek to allow audiences a taste of the spectacle in a novel digital world.’’

Everdome will introduce their large community of web3 followers and metaverse pioneers to Alpine’s exciting web3 ecosystem, paving the way for some exciting cross-project collaborations, activations and more across 2024 and beyond.

The post Everdome and Alpine Web3 Redefine Fan Engagement with Bold Metaverse Vision appeared first on HIPTHER Alerts.

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Blockchain

Blockchain Technology Market Size to Achieve USD 1,879.30 Billion by 2034

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Blockchain

Blockchain Technology in BFSI Market Is Expected To Reach a Revenue Of USD 258.2 Bn By 2033, at 46.0% CAGR: Dimension Market Research

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