In a new opinion piece in CoinDesk DEF's Amanda Tuminelli and the Blockchain Association's Marisa Tashman Coppel explore how the SEC's newly launched Consolidated Audit Trail (CAT) will impact the digital asset sector and why it represents another step toward making "massive unchecked government surveillance a reality." https://lnkd.in/eMuiCGdG
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Yet more proverbial creep, creep, creep, as I’ve written on on numerous occasions on this same platform, regarding the oncoming avalanche towards a globally coordinated system - superstructure - of regulations for the “crypto” space. There will be lost degrees of freedom as a result. That, in turn, has implications for privacy or, perhaps more pointedly, anonymity of & behind complex transactions &/or transfers, remittances, etc. New forms of “money”, if one chooses to use such equating language, will be accompanied by & with new forms of regulation. And these new regulations will be carefully coordinated across the globe with all its varying governmental regimes. This is an inevitability, rightly or wrongly: it’s also a necessity for fairly obvious reasons that need not be enumerated here.
In their latest op-ed for CoinDesk, Blockchain Association's Marisa Tashman Coppel and DeFi Education Fund's Amanda Tuminelli shed light on the SEC's new mass surveillance tool - the Consolidated Audit Trail or "CAT" - and the ensuing privacy concerns. Remember: Privacy is normal. https://lnkd.in/eMuiCGdG
Crypto’s Latest Privacy Battle
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Blockchain has long held the potential to solve the finance industry's biggest challenges. Lower transaction costs. Faster reconciliation. Reduced counterparty risk. New innovation avenues to explore. With deep experience in traditional finance, we at Polity Network understand the potential of blockchain and DLT. Per the below article from CoinDesk, we're not alone in that understanding: "Institutions, once wary of the nascent and unregulated nature of digital assets, are now stepping into this space, encouraged by clearer regulatory guidance and more sophisticated financial instruments." Regulatory compliance while supporting financial innovation is core to the vision for Polity Network. That's why we're building the Polity Network marketplace for the coming wave of institutional adoption. Read the full article below: https://lnkd.in/gEkXuWTq
The Institutional Era of Crypto Brings Fresh Innovation
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Blockchain makes a big promise of true decentralization and radical transparency. But so far, the space hasn't fully lived up to that promise. In this CoinDesk article, Flipside CTO Jim Myers explains why there's still so much centralization of wealth and power in Web3, and what we can do about it: https://lnkd.in/edU3M3Ua
Open Data: The Unfulfilled Promise of Blockchain
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Recent reporting from CoinDesk and Fortune suggests the U.S. Securities and Exchange Commission is preparing to classify ether (ETH), the native token of the second-largest blockchain, Ethereum, as a security. The move would undoubtedly have severe repercussions for the entire crypto industry, including derailing plans for an spot ETH exchange-traded fund.
Why the SEC Shouldn’t Classify ETH as a Security
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The real promise of blockchain technology lies in the assets themselves. Consider how assets operate today. Various systems are needed to run vital processes such as pricing an asset, distributing interest and dividends, and communicating with investors. With tokenization, we could incorporate these processes into the asset itself. Given a tokenized asset is capable of executing automated processes on its own, we could eliminate the need for potentially dozens of systems working behind the scenes.
Time to Take the Reins on Tokenization, or Risk Missing Out
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"It’s time to advance the metaphorical bullet train on Blockchain policy being American made. Let us not forget. — Thank you Dr.W. Scott Stornetta and Dr. Stuart Haber. Celebrate these brilliant American Inventors for their contributions”. #congress #whitehouse #uspto #sec #treasury #blockchaininnovation #blockchaindevelopment #blockchain
China to Verify Citizens' Identities With New Blockchain-Based Platform
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“ In a system like that, digital money would only add friction and potentially become useless. Or would it? Although fascinating, this reality faces at least two significant hurdles before it can come to pass. First, the number of transactions could quickly overwhelm even the most efficient blockchain. (…) The econd hurdle for tokenized assets to replace money is legal”. #tokenization #blockchain #defi
How Tokenized Assets Can Replace Money
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Staking in the world of cryptocurrency has faced its share of misunderstandings and challenges, often due to misleading practices in the market. It's crucial to differentiate between legitimate staking and what can be called "staking" in quotation marks, which may obscure the risks associated with these activities. Legitimate staking involves locking tokens directly on a blockchain with operators or validators, allowing participants to retain ownership of their tokens while supporting blockchain operations. On-chain staking is transparent and observable on the blockchain, making it a lower-risk activity. https://lnkd.in/dJ4X4zg5
Staking Risks Are Vastly Misunderstood
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"The introduction of #ETFs and institutions could disrupt the cyclical price pumps that have historically trailed the #Bitcoin halving. This could signal an end to crypto’s four-year bull/bear cycle and be the beginning of a whole new era for #crypto." A very well written and analyzed op-ed piece by CoinFlip's Daniel Polotsky on CoinDesk regarding the possible future of crypto based on numerous shifts in the current landscape. An important outlook to explore to stay informed on the possibility of the upcoming shift. #AltBanking We aggregate and bring the best actionable information, news and opportunities in this rapidly evolving ecosystem straight to our followers. So be sure to follow us so we can help you stay informed and up-to-date! #blockchain #Web3 https://lnkd.in/enwXgqr9
Is This the End of Bitcoin's 4-Year Bull/Bear Market Cycle?
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