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Artmarket.com, already positioned on NFTs with Artprice, reacts to an interview on BFM Crypto with Bruno Le Maire and notably his desire to make France “the hub of the crypto-asset ecosystem”

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On 17 October 2022Bruno Le Maire – Minister of Economy, Finance and Industrial and Digital Sovereignty – was interviewed by BFM Crypto on the topic of crypto-assets.

Artmarket.com carefully notes the declaration by the top of the State of the economic potential of the crypto-asset ecosystem, and above all of wanting to make France “the European hub of the crypto-asset ecosystem”. Bruno Le Maire declares: “And we want France to be the European hub of the crypto-asset ecosystem.”

He also said: “Today, France has some of the most innovative DASPs in the world and can draw on an exceptional concentration of crypto skills, whether scientific, IT, financial, legal or commercial.

Artmarket.com is fully prepared to contribute to making France a Leader in crypto-assets in Europe and also in the world, in the specific field of Art NFTs, adopted by all historical players in the Art Market.

As World Leader in Art Market Information and a pioneer on the Internet since 1987 with Group Serveur, Artprice by Artmarket (twice designated an “innovative company” by BPI France) has all the advantages, technological know-how, and expertise to give France a place as an international leader in the field of crypto art.

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Artmarket.com already has a permanent information feed on daily NFT news in 119 countries, as the world’s leading press agency dedicated to the Art Market, NFTs, and Metaverse:

https://www.prnewswire.com/news-releases/artmarketcom-artprice-and-cision-extend-their-alliance-to-119-countries-to-become-the-worlds-leading-press-agency-dedicated-to-the-art-market-nfts-and-the-metaverse-301431845.html

Artprice by Artmarket.com confirms that during the first half of 2022, the Art NFT phenomenon (Jeton Non Fongible in French) became a durable segment of the art market on all continents with acceleration in sales and volumes in the second half of 2022. This acceleration has been triggered primarily by a) the purge of cryptocurrencies and b) the introduction of much more favorable legislation in the USA. Meanwhile, Europe has introduced a regulatory framework that supervises and controls the cryptocurrency environment, thereby giving greater confidence to consumers, investors, and operators.

This regulation is the subject of studies, colloquia, and proposals to major French and European government bodies by the Art & Law Institute, where Artprice by Artmarket has been heavily involved as a long-standing member since 1997.

thierry Ehrmann, founder of Artprice and CEO of Artmarket.com remarks: “in our various annual art market reports and our communications with investors, we have always included NFTs in our studies. And we have always said that one cannot understand this market with exponential growth without understanding the vital importance of Blockchains, cryptocurrencies, and their cultural origin within the Cypherpunk milieu (period of PGP-type data encryption in the early 1990s).

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Indeed, OpenSea USA, the leading NFT platform, itself declares that 80% of the primary issues of Art NFTs are likely to impact the intellectual property rights of third parties. Faced with this observation, Opensea has announced that it is considering solutions to counter this scourge and protect sellers and buyers. There is only one viable solution to this problem: the certification of the primary Art-NFT market by Artprice through its blockchain and its smart contracts.

It is precisely in the primary issue of Art NFTs that Artprice by Artmarket.com is the only one on the world market, taking into account all the underlying parameters and data, to be able to truly meet the certification of primary issues of Art NFTs.

This ability to certify primary issues of Art NFTs is based on the fact that Artprice by Artmarket.com is the World Leader in Art Market Information and author for 25 years of its authoritative databases. These in turn contain the largest documentary collection in the world of notes, manuscripts, and catalogs of auction sales since 1700, guaranteeing in return the authenticity and the historical proof of its databases.

Artprice by Artmarket.com aims to be the most successful and highly competitive Art NFTs platform through its Metaverse, which is the ultimate and inevitable outcome of the NFT revolution.

This Metaverse is the assurance of exponential and continuous growth of the Art Market by NFTs. It will be accompanied by its Blockchain and its smart contracts to allow fair remuneration for artists, with copyright societies such as ADAGP, of which Artprice has long been one of the main contributors, under the legal provisions of reproduction, for the support of artists.

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The Minister of the Economy adds “In the immediate future, I am delighted with the transition from Ethereum to proof of stake, which consumes much less energy. ”

This is in line with Artprice by Artmarket.com’s Blockchain, which will mainly use Ethereum for its smart contracts, as announced in its recent press release, following the transition from “Proof of Work” (PoW) to “Proof of Stake” of Ethereum 2.0 on September 15, 2022:

https://www.prnewswire.com/news-releases/artmarketcom-with-a-99-95-reduction-in-energy-consumption-the-merge-is-a-historic-and-ecological-success-for-ethereum-the-reference-cryptocurrency-for-artprice-and-for-the-art-nft-market-301625211.html

Indeed, Artmarket.com has been following very closely for the last 3 years the transition to “The Merge” for the decarbonized Blockchain Ethereum 2.0, in the context of the global energy crisis, which is only just beginning. According to its Founder Vitalik Buterin, thanks to “The Merge”, after 7 years of development and successful beta tests), the electricity consumption of the Blockchain ETH collapses by more than 99.95%, going from “Proof of Work” (PoW) to the “Proof of Stake” (PoS).

The fact that Artprice anticipated three years earlier the Blockchain Ethereum and its smart contract as the reference in the Art Market for NFTs, is further reinforced by the official dispatch from Christie’s on September 27, 2022, with the launch announced of Christie’s 3.0 which is based on the Blockchain Ethereum.

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According to an Artprice study:

“All Market Makers in the Art Market and in particular the majority of Auction Houses worldwide now have an NFT department for cataloged and online sales throughout the year. Similarly, all the major structures in the museum industry and art galleries are starting to publish their own NFTs.

Digital Art created in the 1980s is finally making its real revolution by impacting nearly half a billion Art NFT enthusiasts, at purchasing costs that are now very accessible.

There are already more than 54,000 artists identified by Artprice who directly produce their NFTs for their buying public and this is only the very beginning of this paradigm shift.

It is a major event that definitively modifies the structure of the Art Market and its actors, as known since 1950 according to sociologists, art historians, and analysts. This is also confirmed by the various departments of Artprice, particularly concerning the figures.”

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https://www.actusnews.com/fr/artmarket/cp/2022/09/29/artmarket_com-rapport-financier-s1-2022-les-capitaux-propres-depassent-les-30m-eur-rn-en-progression-record-ca-s1-mise-en-place

Artmarket.com will contribute to giving France and Europe a chance to counterbalance the Anglo-Saxon hegemony in the field of crypto-assets. It will expose to the Minister of Economy, Finance, and Industrial and Digital sovereignty, the unique capabilities of Artprice by Artmarket.com, the World leader in Art Market information for 25 years, in certification of primary issuance in the field of Art NFTs and crypto Art more generally.

Copyright 1987-2022 thierry Ehrmann www.artprice.com – www.artmarket.com

Wladimir P. is a Content Editor at European Gaming Media and at PICANTE Media and covers a large variety of industries.

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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Blockchain

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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Blockchain

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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