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Canada SailGP Team Announces Partnership with Algorand

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Canada SailGP Team has unveiled a significant three-year partnership with the Algorand Foundation. The agreement marks the first major partnership announcement for the Canadian team and sponsorship of a professional sailing team by a blockchain platform.

Canada SailGP Team and the Algorand Foundation share a vision for a sustainable future that is built on cutting-edge innovation and high-performance technology, making the partnership a natural fit. Both are committed to inspiring a brighter and cleaner future for our planet through sport.

Founded by digital finance entrepreneur Fred Pye, the Canada SailGP Team is all about inspiring the next generation of sailors in Canada, facilitating opportunities for youth to get involved in the sport and creating a pathway for exceptional athletes.  The team is building a foiling development programme (We CAN Foil) which will give young sailors from coast to coast the chance to learn to fly. Canada SailGP Team, as part of SailGP, is committed to racing for a better future which includes combating climate change and accelerating the transition to clean energy.

The Algorand Foundation is dedicated to fulfilling the global promise of blockchain technology by leveraging the power of the Algorand protocol and its ecosystem to enable everyone to harness the potential of an equitable and truly borderless digital economy built on a carbon-negative network. With its Pure Proof-of-Stake approach, Algorand has built a sustainable, decentralized blockchain with minimal power consumption that will positively impact innovation in finance and inclusion without negatively impacting the environment.

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“SailGP’s combination of sport and technology makes it uniquely positioned to provide a platform for growth of all digital asset technology.  The Canada SailGP Team is leading the development in this space, and I’m confident that we will be the first team in the League, perhaps in all of professional sailing, to showcase the possibilities of blockchain. This is just one of the reasons why we are so pleased to partner with the Algorand Foundation,” said Pye.

“We are excited to partner with the Canada SailGP Team as we are so well-aligned on our shared values of high-performance technology and a sustainable, carbon-zero approach. We look forward to collaborating with the team on a range of initiatives that will show the unique mix of performance, security and sustainability that mark out Algorand as a unique blockchain,” said Staci Warden, CEO of the Algorand Foundation.

The countdown to the start of Season 3 has begun, with only a few weeks until the team’s first event – Bermuda Sail Grand Prix presented by Hamilton Princess – on 14-15 May, followed by the events in Chicago (June), Plymouth (July) and Copenhagen (August).

Blockchain

Legal Luminary Sarah Brennan Champions Pioneering Crypto Regulation Approaches

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Sarah Brennan, an accomplished figure in corporate and securities law, serves as General Counsel at Delphi Ventures, focusing on investments in the Web3 space. With over 14 years of experience in securities law and a deep involvement in digital assets since 2017, Brennan also co-leads LeXpunK, a collective dedicated to establishing legal frameworks for decentralized digital communities.

In a candid interview with a prominent cryptocurrency news outlet, Brennan discussed various critical topics. She addressed the emergence of crypto super PACs, funded significantly by major firms like Ripple and Circle, to counter strict SEC regulations. Brennan viewed the SAB 121 bill, backed by the US administration, as potentially isolating the crypto community from broader financial integration.

While acknowledging the influence of centralized entities in advocating for crypto interests, Brennan cautioned against replicating traditional financial hierarchies within the crypto sphere, which contradicts its revolutionary ethos. She expressed concerns about monopolistic scenarios that could dominate the crypto landscape, exerting excessive control over essential industry components and traditional financial operations.

Regarding regulatory challenges, Brennan advocated for tailored regulations to manage systemic risks posed by large centralized crypto institutions. She criticized the current regulatory opacity and inconsistency, which she believes have fostered suboptimal business practices. Through LeXpunK, Brennan endeavors to pioneer experimental legal structures that could redefine regulatory compliance for token issuances, though reception from policymakers has been lukewarm.

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Looking ahead, Brennan emphasizes the need for proactive regulatory approaches using antitrust measures to prevent crypto monopolies, promote decentralization, and target bad actors. However, she highlighted the persistent communication gap between crypto-literate legal advocates and hesitant regulators as a significant obstacle.

Brennan continues to drive forward her mission through new advocacy platforms aimed at shaping the future of cryptographic regulation, navigating complexities to ensure balanced and effective regulatory frameworks in the evolving crypto landscape.

Source: shakirabrasil.info

The post Legal Luminary Sarah Brennan Champions Pioneering Crypto Regulation Approaches appeared first on HIPTHER Alerts.

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Italy Ramps Up Crypto Oversight in Line with MiCA

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Italy is preparing to strengthen its oversight of cryptocurrency markets to align with the European Union’s Markets in Crypto-Assets (MiCA) regulatory framework. This initiative, initially enacted in 2022, aims to impose stricter monitoring of digital asset markets, particularly targeting insider trading and market manipulation. Under the new decree, fines ranging from 5,000 to 5 million euros ($5,400 to $5.4 million) will be imposed based on the severity of violations, reinforcing compliance and market integrity.

For blockchain firms and decentralized finance (DeFi) protocols, MiCA presents significant challenges. These entities must decide between fully decentralizing their networks or complying with MiCA’s Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations. Fully decentralized networks are exempt from reporting requirements but risk non-compliance if they employ foundations or intermediaries moderating communities.

Centralized exchanges like Binance are adapting to MiCA by categorizing stablecoins as authorized or unauthorized, aligning with regulatory requirements without delisting these assets from spot markets. Uphold has similarly adjusted by delisting certain stablecoins for compliance purposes.

Despite regulatory pressures, experts are optimistic about stablecoins’ future. Figures like Jeremy Allaire, CEO of Circle, predict stablecoins could represent 10% of the money supply within a decade. They anticipate widespread adoption driven by benefits such as financial inclusion, lower remittance costs, and seamless cross-border commerce via public blockchains.

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This regulatory framework underscores the transformative potential of stablecoins and blockchain technology within the global financial system.

Source: coinfomania.com

The post Italy Ramps Up Crypto Oversight in Line with MiCA appeared first on HIPTHER Alerts.

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1inch Network Teams Up with Blockaid for Shield API

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1inch Network has collaborated with Blockaid to introduce the 1inch Shield API, a pioneering advancement in Web3 security. This collaboration aims to enhance user protection within decentralized finance (DeFi) by bolstering defenses against fraudulent tokens. Blockaid, renowned for its expertise in Web3 security solutions, utilizes advanced data analytics and machine learning to swiftly identify and flag scam tokens, safeguarding users from potential financial risks.

The 1inch Shield API also addresses compliance with Anti-Money Laundering (AML) regulations through continuous screenings of blockchain addresses. Powered by TRM Labs, this feature scrutinizes addresses for associations with sanctioned entities and illicit activities, preemptively restricting suspect addresses to prevent regulatory infractions.

Additionally, 1inch integrates Etherscan Pro’s blocklisting capabilities to proactively blacklist suspicious addresses, further fortifying its security measures.

This initiative marks a significant milestone in DeFi security, promising unparalleled levels of security and compliance. As 1inch continues to deploy this technology across its platform, it aims to provide developers and users with enhanced protection and confidence in navigating the Web3 landscape.

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Source: cryptotimes.io

The post 1inch Network Teams Up with Blockaid for Shield API appeared first on HIPTHER Alerts.

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