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VNX launches Europe’s first tokens referencing fiat currencies with an underlying gold base value

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VNX, Europe’s first regulated entity for investing in tokenized precious metals under Liechtenstein’s Blockchain Act, launches the VNX Euro (VEUR) and VNX Swiss Franc (VCHF) tokens referencing respective fiat currencies on crypto exchange Emirex with tokenized physical gold as a base value. VNX’s tokens enable new investment and holding strategy implementations through digitally referenced fiat currencies and tokenized precious metals.

The crypto market’s ongoing rough patch may discourage curious retail and institutional investors from exploring its more volatile offerings. For investors wading cautiously through the crypto landscape, tokens referencing traditionally valuable commodities and major European currencies can help rebuild trust in decentralized finance and digital assets.

The launch of VEUR and VCHF expands investor capabilities in the crypto space by offering digital assets tied to traditional currencies. The new additions solidify VNX’s roster of tokens backed by trusted physical commodities, empowering accredited investors searching for stable digital assets to hold, trade, and earn with.

Most of the crypto economy now is denominated in dollars as a reference asset, much like the traditional global economy. But the share of currencies such as EUR and CHF in the traditional economy is much larger in percentage than in the crypto landscape. These currencies are additionally more native to  European retail investors and are also the balance currency for institutional market participants based in the region.

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As the first coin backed by tokenized precious metals in Europe from a token generator licensed under Liechtenstein’s Blockchain Act, VNX’s platform equips institutional and retail investors to utilize stable crypto assets in a regulated setting. In addition to its flagship physical gold-backed VNX Gold token, users can implement VEUR and VCHF for inflation hedging, CEX/DEX trading, and CeFi or DeFi liquidity and staking.

Founded in 2014 Emirex is dedicated to building the infrastructure for the new digital economy, making VNX Euro and VNX CHF available on Emirex unlocks a new audience ready to explore the possibilities of commodity-backed tokens.

“We are thrilled to launch new fiat-referencing tokens and introduce new ways for our clients to utilize commodity-backed crypto in their investment strategies,” says Alexander Tkachenko, Founder and CEO of VNX. “Launching these tokens is a big step forward in bringing stable and reliable digital assets to a global community.”

“Launching VNX’s fiat-referencing tokens on our platform unlocks new opportunities for crypto investors in EMEA to expand their portfolios,” says Greg Mars, Co-Founder of Emirex. “Expanding digital assets backed by precious commodities offers a defined route with an inherent value for users to explore crypto on their own terms.”

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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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