Blockchain
Dynasty Targets Global Upscale Real Estate Market With Innovative Cryptocurrency
A new and unique cryptocurrency, the D¥NS, designed to link the benefits of both the crypto and real estate worlds, is being announced by Swiss-based Dynasty Global Investments AG. D¥NS will be linked to ultra-premium property assets acquired by Dynasty in major centres around the world.
“By linking D¥NS with real estate, we want to bring more solidity and credibility to the market,” stated Dynasty’s co-founder and CEO, Eduardo Carvalho. In all, 21 million D¥NS tokens will be issued in four tranches, starting on July 01 via major crypto exchanges. As tokens are sold, funds will be used to acquire more ultra-premium real estate. With revenues from the properties, Dynasty will rebuy D¥NS from the market to be burnt, increasing their scarcity.
The company is already building its property portfolio, with the purchase of nearly 1,000 sqm of high-end commercial office space in Sao Paulo’s prestigious Faria Lima Avenue, worth BRL 27,695,000 (USD 5.48 million). Additional properties being assessed for acquisition are in cities like New York, London, Hong Kong and Singapore.
It’s no accident that successful Brazilian entrepreneurs Eduardo Carvalho and Fabio Asdurian chose the Swiss canton of Zug as Dynasty’s headquarters when they created the company in 2016. The area, known as the Crypto Valley, hosts a number of cryptocurrency-related businesses committed to the region’s globally recognised rules, set up to regulate the use of blockchain technology. Dynasty also follows strict rules to prevent money laundering, including the 1988 Know Your Client principles, developed in Basel, with a thorough process to identify buyers of its D¥NS tokens.
Carvalho started his enterprising career early, halting university studies to launch his first business venture at the age of 19. He developed experience in the high-end property market as COO of Imovel A, a property business specialised in the sale of luxury real estate. Co-founder Asdurian is also a seasoned retail entrepreneur, with a number of innovative Latin American e-commerce concepts involving major global brands, launched from his native Brazil.
The D¥NS’s launch coincides with Carvalho’s attendance at this year’s Ritossa Family Office Investment Summit in Monte Carlo, starting on June 30. He will make presentations and hold meetings at the event, considered the largest and most influential gathering of family wealth, representing USD 4.5 trillion in assets.
Blockchain
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Blockchain
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Blockchain
Elizabeth Warren Urges Treasury Secretary Yellen to Implement Strong AML/CFT Measures for Stablecoins
In a recent communication directed to Treasury Secretary Janet Yellen, US Senator Elizabeth Warren has strongly advocated for the incorporation of robust Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) measures specifically tailored for stablecoins. Senator Warren’s correspondence underscores the critical importance of adopting the full array of AML tools outlined by the Treasury Department in a prior November 2023 communication to Congress.
Senator Warren has underscored the burgeoning threat posed by cryptocurrencies, particularly stablecoins, to national security. She has specifically drawn attention to instances where entities like Iran and Hamas have turned to cryptocurrencies as a means to raise funds and support terrorist activities. To effectively address this evolving threat landscape, Senator Warren asserts that any forthcoming crypto legislation must encompass comprehensive AML/CFT authorities as requested by the Treasury Department.
Moreover, Senator Warren has made reference to the testimony provided by Deputy Secretary Adewale O. ‘Wally’ Adeyemo before the Senate Committee on Banking, Housing, and Urban Affairs. In this testimony, Adeyemo emphasized the critical need for additional AML authorities to combat the growing menace posed by cryptocurrencies. Senator Warren has pointed out that the exclusion of crucial actors within the digital asset ecosystem, such as miners and validators, from AML/CFT requirements could potentially enable nefarious actors to exploit the increased crypto trading facilitated by stablecoin legislation.
Senator Warren’s steadfast stance on the regulation and oversight of cryptocurrencies is aligned with her prior efforts aimed at curbing illicit activities and safeguarding consumers, the financial system, and national security interests. She has persistently advocated for the closure of loopholes in AML regulations that allow sanctioned entities like Iran to derive revenue through crypto transactions. Furthermore, Senator Warren has consistently voiced concerns regarding the exploitation of cryptocurrencies in terrorist financing schemes and has called for the implementation of stronger regulatory frameworks to protect both consumers and national security interests within the realm of stablecoin-related legislation.
Source: blockchain.news
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