Josh Craven📈

The United Arab Emirates is taking significant steps to integrate stablecoins into its financial ecosystem: UAE Central Bank Approval: • New stablecoin registration framework • Oversight of UAE dirham-backed stablecoin arrangements DFSA Amendments: • Stricter requirements for stablecoins in crypto token regime Private Sector Innovation: • Phoenix Group partners with Tether • Launch of UAE dirham-pegged stablecoin Key Implications: • Enhanced stability in the cryptocurrency market • Bridge between traditional finance and digital economy • Positioning UAE as a global cryptocurrency hub The global stablecoin market is projected to reach $2.8 trillion by 2028, highlighting the potential impact of these regulations. These developments demonstrate Dubai's commitment to fostering a regulated and innovative digital asset environment, potentially setting a benchmark for other financial centers. #DubaiFinTech #Stablecoins #FinancialRegulation #CryptoInnovation

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The Crypto flywheel! ⚙ 🔝 ETH's ETF and the UK's stable coin have broken two more regulatory barriers and are fueling mainstream adoption by retailers and brands. As part of this movement, crypto cashback is becoming a notable feature, enhancing engagement with a broader audience. This momentum encourages regulators to remove additional regulatory barriers, creating a positive flywheel for innovation! 🚀

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Ondo Finance's token offering will now be integrated to over 90 blockchains in the cosmos ecosystem🌐 𝐈𝐧 𝐜𝐚𝐬𝐞 𝐲𝐨𝐮 𝐝𝐢𝐝𝐧'𝐭 𝐤𝐧𝐨𝐰.. Cosmsos interoperability network includes many big names, such as dYdX, Sei Network, Injective Labs and Celestia Labs. Ondo will use https://nobleassets.xyz/ as a "routing hub" for liquidity across the Cosmos ecosystem. This is pretty huge news, given that Ondo has now deployed its products across such a large number of thriving ecosystems. Sui, Solana, Polygon, Mantle, Aptos, Injective and now 90 other blockchains on Cosmos, thanks to Noble. 𝐎𝐧𝐝𝐨 𝐡𝐚𝐬 𝐭𝐡𝐞 𝐩𝐞𝐫𝐟𝐞𝐜𝐭 𝐩𝐨𝐬𝐢𝐭𝐢𝐨𝐧𝐢𝐧𝐠.. It's products are institutional-grade, yet DeFi leaning, making them attractive to tradfi participants, whilst benefiting from the network effect that comes from deploying in leading blockchain ecosystems. Having defined its product-market-fit so early on, has also helped to give them such a competitive edge - the use case for RWA-backed yield bearing stablecoins is very clear. The recent decision to move $90M worth of assets backing OUSG to Blackrock's new tokenized fund (BUIDL), was a fantastic move. 𝐖𝐢𝐭𝐡 $300𝐌 𝐢𝐧 𝐓𝐕𝐋 𝐚𝐜𝐫𝐨𝐬𝐬 𝐢𝐭𝐬 𝐩𝐫𝐨𝐝𝐮𝐜𝐭𝐬 𝐚𝐥𝐫𝐞𝐚𝐝𝐲.. It's pretty safe to say that $Ondo is off to a flying start, yet I feel there is so much more to come. Ondo Global Markets, announced recently is a product that will enable them to capture an even larger market share, focused more broadly on securities tokenization, without being limited to its current t-bill exposed products. Below, I have dropped the Coindesk article covering this big new partnership and more information on Ondo GM for you to digest👇

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🌍 Circle Triumphs as First Licensed Stablecoin Issuer under MiCA 🌍 While Dubai tightens its grip on crypto payments, Circle is making waves in the European Union! 🚀✨ Circle's Milestone: ➡ Regulatory Win: Circle's USDC and EURC are now fully compliant digital fiat tokens under MiCA rules. ➡ EU Headquarters: Circle selects France for its European HQ, praising its forward-thinking stance on digital assets. ➡ Dubai's Ban: UAE's new regulations prohibit crypto payments, posing challenges for crypto adoption. ➡ Circle's Success: In stark contrast, Circle’s regulatory approval highlights a supportive environment in the EU. Circle's CEO Jeremy Allaire calls this a historic moment for digital assets, reflecting the industry's evolution and regulatory acceptance. What do you think about these contrasting developments? Share your thoughts and follow me for more crypto insights! 🔥💬 #Circle #Stablecoin #MiCA #CryptoRegulation #DigitalAssets #UAE #CryptoBan

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In the world of Crypto, Web3, DeFi and Blockchain, resilience isn’t just about systems—it’s about people. While the infrastructure may need to handle high volumes of data, the real strength lies in the team behind it. The best teams are those who can perform under intense pressure, adapt swiftly to market volatility, and drive ongoing innovation in response to new challenges. These are individuals who excel at navigating fast-paced environments and thrive in roles where agility is key. At Source Control, our mission is to build these resilient teams from the ground up. We focus on finding not only technically skilled candidates but also those with the right mindset to handle unique demands—people who can think on their feet, manage stress effectively, and work seamlessly within high-stakes environments. We believe that building a resilient team starts with understanding each client’s unique demands, pressures, and culture, then sourcing candidates whose skill sets and values align with those needs. A robust team is, after all, one that can drive performance, recover quickly from setbacks, and stay motivated even as market dynamics evolve. If you’re looking to build a resilient trading team equipped for today’s challenges and tomorrow’s innovations, let’s connect.

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💡Have no intention to read this 44 pages Global Crypto Regulation Landscape report but like the juicy part? Bingo, I’ve summarised this below and added recent development on top. Key Summary: ⭐#1 MiCA sets a precedent for comprehensive crypto regulation - came into force in June 2024 for stablecoins   ⭐#2 Expansion of the Travel Rule to include crypto transactions is now a global trend. Requires originating institution to share info regarding the payments ⭐#3 Growing regulatory focus on stablecoin - EU, SG and HK are leading the way ⭐#4 FATF in March 2024 published a report assessing 58 jurisdictions with significant VASP exposure while 75% of jurisdictions being partially or non-compliant to AML/CFT standards 🇺🇸US - Intensifying efforts to prevent money laundering, enhancing oversight of sanctions evasions, enforcing AML/CFT standards and addressing stablecoin risks - Imposed multiple sanctions and SEC taken aggressive stance by targeting Uniswap, which received the Well’s notice - Lack of progress in passing legislation to crypto. The US House passed the Financial Innovation and Technology for the 21st Century Act but the bill faces hurdles by SEC  🇪🇺EU - MiCA goes into effect for stablecoin and e-money token issuers from Jun'24. While Circle received stablecoin issuer license, we have seen USDT being removed from Coinbase more recently as they are not seeking license - While MiCA is EU-specific, it is influencing regulatory approaches in other regions - In Mar'24, ESMA published first report outlining rules for Cryptoasset Service Provider (CASP), while broader CASP regulation will come into effect in 2024 🇦🇪UAE - In Jun’24, UAE Central Bank approved its stablecoin regulation. Tether later then announced to launch the first to be licensed stablecoin pegged to AED under the Payment Token Services Regulation   - Solidified UAE’s CBDC strategy and sent AED50m from UAE to China via mBridge, a platform that allows cross border payment 🇭🇰Hong Kong - SFC’s VATP (crypto exchange licensing) regime started in Jun’2024 enforcing all exchanges to be licensed. 11 crypto exchanges including crypto.com, Bullish received deemed license. HKVAX received the 3rd VATP license more recently - In Jul’24, HKMA announced the stablecoin consultation results, while a list of 3 stablecoin sandbox participants been announced - In Apr’24, SFC approved 3 firms (China AMC, Bosera AM, Harvest Global) to launch BTC and ETH ETFs listed in HK, 4 months after SEC approved 11 Bitcoin ETFs. 🇸🇬 Singapore  - In Jul’24, Paxos received MAS’ approval to offer it’s stablecoin under Major Payments Institutions (MPI) license  - OKX SG, GSR, BitGo received the MPI licenses earlier this year Travel Rule Service Providers: VerifyVASP, Notabene Crypto surveillance, monitoring service providers: Elliptic, Solidus Labs, Chainalysis Elliptic's Full report: https://hubs.la/Q02RDNkd0 #crypto #regulation #global #report #summary #MiCa #SEC #VARA #MAS #HKMA #SFC

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For the first time ever, yieldcoins can be used as collateral on a perpetuals platform.. Thanks to the Drift Labs x Ondo Finance partnership, bringing RWAs to Solana’s DeFi ecosystem🔥 As of tomorrow, USDY will be available as collateral for perps trading and lending/borrowing on Drift Protocol. Enabling traders to simultaneously execute trades and earn yield holding USDY. The team at Drift perfectly summarises this development by saying: “Tokenized RWAs were never meant to just sit idle in wallets Composability with DeFi unlocks a whole new realm of possibilities and utility for such assets” This partnership not only adds more utility to tokenized real-world assets, it also greatly improves capital efficiency for traders. $USDY being added as collateral on Drift is an extremely exciting integration and brings a first of its kind DeFi use case for tokenized public securities. Ondo first expanded its yieldcoins to the Solana blockchain and ecosystem in December of last year - the partnership has flourished since. Make sure you don’t miss our X Spaces with the Drift team tomorrow, link in the comments below👇 (NOTE: USDY is not, and may not be, offered, sold or otherwise made available in the US or to US persons. USDY also has not been registered under the US Securities Act.)

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📉 Bitcoin Plunges! What's Next for Crypto? 🚀 How do you think the Mt. Gox payouts will further affect BTC prices? Share your insights!

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📉🌐 Runes' Market Ride: Boom to Gloom? 🎢 Do you think Runes can rebound and stabilise in the volatile crypto market? Share your insights!

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#Meme coins under $0.50 are catching eyes: MoonBag, BRETT, and Bitcoin Dogs. Are they worth your investment? The crypto market surged by 2.3%, hitting a $2.07 trillion market cap 📈 However, Asian markets have slowed this recovery. September could be très important for crypto enthusiasts. Key events like presidential debates and Federal Reserve decisions loom large on the horizon. Meanwhile, meme coins such as MoonBag, BRETT, and Bitcoin Dogs are gaining traction 🚀 These low-cost investments are attracting attention. In addition, the U.S. House Financial Services Committee is planning hearings on DeFi and crypto regulations this month 🏛️. #defi #crypto #austinwerner

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Web3 / Crypto Gaming - Does the maths add up? 📈 Paul "The Profit" Dawalibi gives us his insight into the industry in the latest episode of The Level Up Lounge. Catch the full conversation now on YouTube and Spotify. #gaming #web3gaming #cryptogaming

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🔊MiCA Stablecoin legislation comes into effect this Sunday 30th June 2024. 😳$20BN of Stablecoin USDT has left the market - and IMHO has gone underground into Fiat/Cash. This structural market movement is due to stronger VASP (Crypto exchange) AML/KYC source of funds ongoing due diligence and daily PEP/Sanction checks in line with Financial Action Task Force (FATF) travel rule adoption. 🇦🇪 UAE announce a ban on non-dirham backed stablecoins for payments within the region. 🇯🇪 Jersey British Isles based Moneybrain (VASP) ready to serve 🇬🇧 & 🇪🇺 with liquid Blackrock Moneymarket Fund Backed Ethereum ERC20 Stablecoins. $ #USDB € #EUROB £ #GBPB Please add in the comments any other Stablecoins that are able to be exchanged in 🇬🇧 & 🇪🇺from July 1st 2024. Please forward/re-post to who you feel may be interested and onto your preferred exchanges or family offices/OTC desks and ask them to DM me [email protected] if they wish to establish BiPS digital $€£ stablecoin pairings. With thanks to Camomile Shumba for the article in the comments for sharing all the up to date facts. CoinDesk #GlobalP2P #Moneybrain #BiPS #Stablecoins

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🚪Early steps to breaking into Web3 investment and research industry! As I was asked by someone from Tradfi (traditional finance) about that yesterday #1 Pick up the Web3 jargons - build a curiosity to learn all the basics #2 Research Part 1 - go through the top 100 tokens on CoinMarketCap. Form a view on the key difference between tokens in the same segment, ie. Solana vs Avalanche, USDC vs USDC. Find out about it's metrics, use cases, user numbers, Total Value Locked (TVL), Transaction per second (TPS) or how it solves for the blockchain trilemma (security vs scalability vs decentralisation if it's a layer1) etc. Part 2 - Read quality reports from the likes of a16z crypto, Messari, Glassnode, Delphi Digital etc and understand the latest trends #3 Look into the tokenomics, blockchain technology, smart contract and programming language aspects of the tokens #4 Keep networking within the crypto VC industry. I have a list of Asian Web3 investors that i could share! Web3 Running Man Episode 6 P.S I'm co-organising a Web3 Victoria Harbour morning run at 7:30am 31st Oct, feel free to join us there! Will make an announcement about that. #Web3 #Running #Man #investment #research #breaking #into #industry #jargons #token #coinmarketcap #A16z #messari #glassnode #delphidigital

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Wondering what a Web3 compensation + token allocation package looks like in 2024? We've pulled together 8 real life examples from roles we have recently placed, and you can download it for free below ⬇

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🚀 abrdn Leads UK in Asset Tokenization with Hedera Hashgraph 🌐 In a groundbreaking move, abrdn PLC, the UK's largest active wealth manager, has embraced distributed ledger technology by initiating asset tokenization on Hedera Hashgraph. This initiative, in collaboration with regulated digital asset exchange Archax, marks abrdn as the first major UK asset manager to issue a tokenized security. Key Developments: 1️⃣ Innovative Tokenization: abrdn has tokenized its interests in the Aberdeen Standard Liquidity Fund (Lux) – Sterling Fund, leveraging Hedera Hashgraph's technology. 2️⃣ Strategic Partnership: The collaboration between abrdn and Archax underscores the growing interest and practical applications of digital asset tokenization in the financial sector. 3️⃣ Regulatory Progress: The UK Treasury is exploring fund tokenization frameworks, indicating a strong move towards embracing Web3 technologies across the nation. Technological Advancements: - New Hedera Improvement Proposal: EVM developers have released a proposal to enhance Hedera’s functionality, focusing on improving the allowance and approval mechanisms for HBAR, Hedera's native cryptocurrency. - Enhancing DeFi Capabilities: This proposal is part of Hedera's DeFi 2.0 strategy, aiming to foster innovation and accessibility within the decentralized finance ecosystem. 💬 Discussion Point: How do you think abrdn's move into tokenization will influence traditional financial practices and the broader acceptance of blockchain technology in asset management? 🔄 Share your insights and keep an eye on how these developments might shape the future of finance! #Abrdn #HederaHashgraph #AssetTokenization #Blockchain #DigitalAssets #Fintech 🔗 Dive deeper into Abrdn's tokenization project and its impact on the market 👉 https://lnkd.in/eaWBzsh7 Feel free to share this post to spark a conversation on the future of tokenization and digital finance!

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