Two European Finance Regulators Urge the EU To Adopt Crypto and ICO Rules

Cryptocurrency and ICO regulations have been an open topic in Europe for quite a long period of time. Some finance regulators claim that it is high time the European Commission determined the place of crypto and ICO in European economy.

The European Banking Authority (EBA) stated that the current crypto asset-related activities did not comply with the EU financial laws, so that The EBA urged the EU to look into the crypto rules and identify what actions may be required at the EU level.

The representative of the EBA said:

“The EBA’s warnings to consumers and institutions on virtual currencies remain valid. The EBA calls on the European Commission to assess whether regulatory action is needed to achieve a common EU approach to crypto-assets. The EBA continues to monitor market developments from a prudential and consumer perspective.”

Moreover, the EBA advised to use the FATF’s recommendations. The Financial Action Task Force (FATF) is to issue a set of recommendations for crypto-related action in June 2019.

Another finance regulator, which supports the EBA, is the European Securities and Markets Authority (ESMA). It released a report which helps the authorities of the EU to make decisions on rules applied to crypto and ICO.

The spokesman of the ESMA said:

“Our survey of NCAs highlighted that some crypto-assets may qualify as MiFID financial instruments, in which case the full set of EU financial rules would apply. However, because the existing rules were not designed with these instruments in mind, NCAs face challenges in interpreting the existing requirements and certain requirements are not adapted to the specific characteristics of crypto-assets.”

We remind you

Seven EU Member States United To Adopt Blockchain In Their Countries

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USA Can Extend Sanctions Against Maduro Government and Ban VISA and Mastercard in Venezuela

At the moment the USA government discusses the possibility of introducing a new package of sanctions, which in fact will prohibit the operation of such systems like Visa and Mastercard in Venezuela.

According to the administration of Donald Trump, such a step would cause irreparable damage to the Maduro government regime, which the United States recognized as illegitimate. These sanctions will mean a total ban for any American company to cooperate with any Venezuelan company that has at least some relation to the current Maduro regime.

The main purpose of these sanctions is to put pressure on the current leadership of Venezuela. However, such actions may affect the lives of ordinary citizens of the country. How to avoid this, officials do not know yet, although they claim that there are some tricks which allow making a number of exceptions.

On Saturday, March 16, Juan Guaido (head of the Venezuelan opposition) said that they managed to take under control the Citgo – a subsidiary of the state-owned oil giant PDVSA.

Recall, recently we wrote that the Russian bank “Eurofinance Mosnarbank”, which cooperated with the already mentioned company PDVSA, came under sanctions.

The USA Imposed Targeted Sanctions on a Russian Bank Which Was Involved in the Creation of El Petro

If the VISA and Mastercard systems stop working in the country, then people will have no other choice but to switch completely to using Bitcoin or their own cryptocurrency El Petro. Given that Venezuelans are used to living in hyperinflationary conditions, cryptocurrency will seem like a fairly stable asset for them.

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Winklevoss’ Brothers Said “Crypto Doesn’t Need Rules”, What About Crypto Companies?

Winklevoss twins are one of the most influential crypto personalities in the modern world. They are multi-millionaires with their own exchange – Gemini – and own dollar-pegged Gemini coin. It is no secret that the brothers have supported crypto since the beginning of it, but now they promote crypto regulation which confronts with the idea of crypto as well as with their billboard slogans. What happened?

Crypto Needs Or Doesn’t Need Rules

The twins are known for deconstructing the stereotypes and the myths that surround crypto in the public. They want to change the image of crypto that has been plagued with scams, hacks, frauds. However, their billboard slogan “Crypto Needs Rules” was criticized by Bitcoin users as the main meaning of crypto is to transfer money or digital assets without having to trust anyone.

Source: Bitcoinist

Cameron Winklevoss said that some people wondered why Gemini believes that the crypto revolution needs rules. He responded:

“Crypto doesn’t need rules, but the companies built on top of it do.”

Cameron also cited a part of report regarding to the defunct QuadrigaCX exchange which lost millions of dollars.

In order to prevent cases like QuadrigaCX and Mt.Gox, the latter’s CEO was sentenced to 2 years and six months in prison, the companies that provide custodial services of customers assets should be regulated. Furthermore, Winklevoss pointed out that these cases as well as other incidents could have been preventable if there was a proper management of the company, in particular, “proper rules and thoughtful regulation”.

We remind you

The Gemini Dollar of Winklevoss Brothers Is Officially Approved

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It Was Offered to Ban Anonymous Cryptocurrencies in Texas

A bill was introduced in Texas which demands an identification of a person who sends or receives cryptocurrencies. However, the bill specifies that if a user has already been using a verified identity digital currency then there is no need to give any person’s verification to the government.

If approved, the bill will take effect September 1, 2019.

The community took the idea not very good.

Having mentioned the bill, Andrew Hinkes, the co-founder and general lawyer of Athena Blockchain, brought up some significant issues:

Texas is not the only example of cryptocurrencies confidentiality infringement. Recently in their report dedicated to usage of cryptocurrencies and blockchain technology the French National Assembly’s Finance Committee offered total ban on cryptocurrencies oriented on confidentiality such as Monero and Zcash.

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Top Global Digital Agencies That You Can Entrust Your ICO Business To

We live in an amazing time, when each of us is able to realize any idea or at least try to do it, even if it is ICO. A startup needs a high-quality development and a launch plan, as well as good promo both online and offline. If you are just at the beginning of your long business journey or you are somewhere along the way, but your project is “not working” properly, you should consider collaborating with professionals in this field. Today we will talk about top-5 digital agencies from different parts of the world based on various ratings and case studies.

1. Crowdcreate – #1 developing marketing agency 

According to Forbes, this ICO agency from Los Angeles is one of the leading cryptocurrency service providers. Crowdcreate has helped more than 60 projects raise about $133 million since its was founded in 2014.

What do they do?

  • Organize a fundraiser;
  • Build a community and management;
  • Attract users;
  • Use influencer marketing, i.e. promote projects with the help of popular opinion leaders.

3 reasons to work with Crowdcreate:

  1. They work on popular online platforms such as YouTube, Reddit, Telegram, Twitter and are featured in well-known media outlets: CNBC, Bloomberg, Forbes.
  2. Crowdcreate has a full-fledged marketing team: the client receives all the necessary services in one place;
  3. They have been working since 2014, which means that the team is at least more experienced in the field of cryptocurrency than other agencies on the market.

2. ICO Box – Box solution for conducting ICOs/STOs

According to The Media Shower, the digital agency ICO Box is ranked second in the Best ICO Marketing Agencies rating.

ICO Box began its work quite recently, only in 2017, but quickly became the leading representative of ICO marketing services in the industry. The agency goes beyond just marketing and includes web development, legal and technical advice in the list of services.

What do they do?

  • Provide technical support for the project;
  • Provide legal advice from experts;
  • Attract users;
  • Digital marketing.

3 reasons to work with ICO Box:

  1. The agency collected over $650 million of investments for 100+ of its clients;
  2. ICO Box assists projects in accordance with US regulations;
  3. Services are divided into many basic and additional packages, which allows the client to choose the type of cooperation he/she needs.

3. FoxTail – changing the digital marketing industry

FoxTail Marketing ranks the 4th in the top-10 rating of Bitcoinist for 2018. This is an American digital agency with a list of successful ICO campaigns. FoxTail Marketing also provides lead generation services for medium-sized businesses. Unlike many agencies, it also provides regular marketing services to companies outside the ICO market.

What do they do?

  • Customize search engine optimization;
  • Social networks;
  • Content marketing;
  • Blog management;
  • Paid content promotion;
  • Email management;
  • Conversion optimization;
  • Optimization of sales funnel;
  • B2B lead generation.

3 reasons to work with FoxTail Marketing:

  1. It focuses on social media and content marketing;
  2. It helps to increase traffic conversion without relying solely on SEO;
  3. It works not only with ICO-projects.

4. BoomICO will raise money for your ICO/STO

This company is the representative of Ukraine among the other marketing agencies in our rating. BoomICO does not just “pack” your ICO, but works with the project since the birth of the idea itself.

What do they do?

  • Legal and technical support of STO/ICO

The defining moment in each ICO is the creation of a token with all legal aspects taken into account. Professional lawyers and technical programmers will help you understand this and prepare everything.

  • Roadshow Event Service

Venture investors are still looking for worthwhile projects with original ideas. BoomICO helps your ICO find big players.

  • Marketing with accredited American investors

BoomICO will present your product to more than 8000 accredited investors by contacting them by email or phone.

  • Promotion at ICOPantera

Korean market whales will become more accessible through the ICO review blog #1 in South Korea.

3 reasons to work with BoomICO:

  1. It has successfully conducted more than a dozen ICOs with the total capitalization of $50 million, some of them being Alttex, RAcoin, and Buddy.
  2. The rating of the agency on ICObench is quite high – 33 points.
  3. BoomICO has access to Korean and US markets, which is rare for most marketing agencies.

5. Black Ball – an investment agency

The company Black Ball works with various projects, attracting both cryptocurrency and fiat investments.

The agency prepares projects no matter what stage of development they are at. Black Ball has a lot of experience working with private and institutional investors from different parts of the world, which makes it possible to promote startups quickly and efficiently.

What do they do?

  • Develop a technical document – WP;
  • Make up a business plan;
  • Prepare a presentation;
  • Work on the creation of an adaptive cross-browser site;
  • Develop smart contracts;
  • Create a secure personal account of the investor;
  • Increase project awareness through branding;
  • Make representative videos;
  • Provide legal support.

3 reasons to work with Black Ball:

  1. The ability to get all the elements of “packaging” in one place;
  2. You will be able to replenish the list of the 38 successfully completed projects and 121 million collected investments;
  3. With Black Ball, you can start working at any stage of the development of your project, even if you only have an idea for now.

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Japan’s Biggest Bank Is Not Going To Create Its Own Cryptocurrency: Fake News Is Not Confirmed

Japan is one of most developed countries in the whole world, when it comes to economic sector, all the spheres are regulated making investments easy and save. News outlets shocked everyone with the news that Japan’s Mizuho bank creates its own cryptocurrency, as it turned out later, the coin is real but the crypto is not.

Cash VS. Online Payments

Even though Japan seems to be a modern country with innovative technological potential, most of its citizens prefer using cash to cards or online payments. In terms of payment systems adoption, the country is definitely left behind, especially if we compare it to China where WePay and AliPay thrive. There are some reasons for this phenomenon. First of all, low interest rates make Japanese hoard their cash. Second of all, the country is very safe, so taking cash with oneself brings no trouble at all. Thirdly, the Japanese population is old, the average age is 47, thus digital payments slowly adjust among citizens.

Summer Olympics in Tokyo

In 2020, the worldwide competition – the Olympic Games – are held in Tokyo. The government rose awareness of lack of electronic payment devices around the country. Thus, it is pushing banks and merchants to find solutions regarding to this problem. Moreover, the government is planning to increase the percentage of people using payment services after the Olympics.

J-Coin To Replace Cash

As a part of the policy of implementing electronic payments, the largest bank in Japan, Mizuho, as well as other 60 financial institution are releasing digital wallet called J-Coin. In the operating method, it resembles AliPay and WePay – scan QR-code and pay. According to the representatives of Mizuho bank, J-Coin has nothing to do with crypto or blockchain in any form.

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Forbes Published The Annual List of The Richest People In The World: Amazon Is On The Top

American business magazine Forbes has updated its annual list of the wealthiest people in the whole world, stating that, in overall, the amount of billionaires has dropped as no one is “immune to economic forces and weak stock markets.” Nevertheless, let us look how much money the ultra-rich and just rich are in possess right now.

The list is topped by the CEO and founder of Amazon – Jeff Bezos, the estimated amount of money accounts for $131 billion. His fortune has swelled by $19 billion in just one year, making him the richest person in the universe for the second time in a row.

The second place was occupied by the principal founder of Microsoft – Bill Gates, his fortune is estimated for $96,5 billion. Gates has become the wealthiest person for 12 times, his riches has grew up by approximately $6 billion in compare to 2018.

The top three ultra-rich people is closed by Warren Buffet – the world-known investment guru. The most successful investor of all the time possesses $82,5 billion. Interestingly, he claimed that he would donate 99% of his fortune.

The top ten of the world’s billionaires list:

Source: Forbes

The list also includes Mark Zuckerberg ($62,3), who has been battling with privacy problems on Facebook; Jack Ma ($37,3) took #21 position, in September 2018, he announced he would resign as Alibaba’s executive chairman; Elon Musk placed #40 with the fortune of $22,3 billion, even though he had some problems with the SEC earlier this year, his company SpaceX was valued at $20 billion.

The youngest self-made billionaire became Kylie Jenner, at the age of 21, her net worth is estimated at $1 billion. She owns 100% of her own company – Kylie Cosmetics, with the annual income of $360 million.  

In general, this year’s list is 55 fewer billionaires than it was last year, the most since the economic crisis in 2009. Nonetheless, 195 newcomes made them to the list. The future is unpredictable that is why let us together see what happens next.

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