EMN Weekly Issue #2

PreviousEMN Weekly Issue #1 NextEMN Weekly Issue #3

Last updated 5 months ago

EMN Weekly Issue #2

Welcome to EMN Weekly Issue #2!

EMN Weekly aims to keep you updated with RWA-centric news from the industry, tickle your funny bone with crypto memes and give you a brief refresher on the latest developments at E Money Network. Happy Reading! What's in Today's Issue?

This Week's Top RWA & MiCA News
Meme Time: Crypto Humor for the Week
E Money Network Updates: What You Need to Know
Community Spotlight

Top RWA & MiCA News of the Week

MiCA Regulations: Bistamp Delists Tether’s Euro Stablecoin EURT - With MiCA regulations close at hand, crypto exchange Bitstamp announced that it is delisting Tether’s euro-pegged stablecoin EURT. The exchange’s decision is aimed at ensuring MiCA compliance, which comes into effect on June 30, 2024. The exchange also announced that it would not be listing any new e-money tokens (EMTs) that don’t meet MiCA requirements or engage in marketing them. However, EMTs, which are not euro-denominated and are already available on the exchange but not within MiCA regulation, will not be delisted, Bitstamp noted.
MiCA Regulations: Binance to Impose Restrictions on Copy Trading and Several Stablecoins - In preparation for MiCAR implementation, Binance has imposed restrictions on some key features of its exchange, including copy trading, from June 26, 2024. Binance will also limit the functionalities of “unregulated stablecoins” from June 30, 2024. However, ‘Stablecoins that are not regulated under MiCA, including USDT and others, will still be available for trading on Binance on Spot, for deposit and withdrawal and in your wallet, as normal. They will also be available to sell on Convert. Binance will not be delisting these stablecoins’ the exchange informed its European users in am last week.
RWA Tokenisation Platform Swarm Markets to Offer NFTs based on gold ownership - Germany-based RWA tokenisation platform Swarm Markets is planning on offering gold-based NFTs to users. The NFTs will be available to only those users who pass KYC and AML checks. The gold bars backing the NFTs will be stored in Brink’s vault in London. Users will be allowed to swap the NFTs in a peer-to-peer manner via Swarm's decentralized over-the-counter (dOTC) platform.
Only $2T of Tokenized RWAs by 2030 in Base Case forecasts McKinsey - McKinsey’s latest report predicts that financial institutions are likely to embrace blockchain technology for traditional financial instruments at a slower pace and limited range of assets than more optimistic reports. Even in an optimistic scenario, the market for tokenised assets might go up to $4 trillion. These figures stand in sharp contrast to previously published reports by Boston Consulting Group and 21shares which estimate the tokenised assets market to grow to $10 trillion by the end of the decade.
MiCA Regulations Set to Accelerate Investment in Surveillance Systems in Crypto Trading - As per the report ‘The Impact of MiCA on Crypto Market Surveillance: Insights and Challenges’ commissioned by Eventus, crypto trading is likely to see an increase in surveillance systems due to upcoming MiCA implementation. The report is based on a survey and series of interviews with senior executives at 68 firms engaged in crypto trade across the buy-side, sell-side and exchanges. The study also reports that only about 9% of the firms that come under the purview of MiCA are prepared for its implementation, and about 25% have not begun any preparations.

Crypto Meme of the Week

https://x.com/emoney_network/status/1806268794681073787

Community Spotlight

Our dear community member highlights all the assets that E Money Wallet supports to help other community members gain a deeper understanding of E Money Network. Check it out here - https://x.com/revolution_coin/status/1805881340585513209

This is all for now. See you all next weekend with the next issue!

PreviousEMN Weekly Issue #1 NextEMN Weekly Issue #3

Last updated 5 months ago

Welcome to EMN Weekly Issue #2!

This Week's Top RWA & MiCA News
Meme Time: Crypto Humor for the Week
E Money Network Updates: What You Need to Know
Community Spotlight

Top RWA & MiCA News of the Week

MiCA Regulations: Bistamp Delists Tether’s Euro Stablecoin EURT - With MiCA regulations close at hand, crypto exchange Bitstamp announced that it is delisting Tether’s euro-pegged stablecoin EURT. The exchange’s decision is aimed at ensuring MiCA compliance, which comes into effect on June 30, 2024. The exchange also announced that it would not be listing any new e-money tokens (EMTs) that don’t meet MiCA requirements or engage in marketing them. However, EMTs, which are not euro-denominated and are already available on the exchange but not within MiCA regulation, will not be delisted, Bitstamp noted.
MiCA Regulations: Binance to Impose Restrictions on Copy Trading and Several Stablecoins - In preparation for MiCAR implementation, Binance has imposed restrictions on some key features of its exchange, including copy trading, from June 26, 2024. Binance will also limit the functionalities of “unregulated stablecoins” from June 30, 2024. However, ‘Stablecoins that are not regulated under MiCA, including USDT and others, will still be available for trading on Binance on Spot, for deposit and withdrawal and in your wallet, as normal. They will also be available to sell on Convert. Binance will not be delisting these stablecoins’ the exchange informed its European users in am last week.
RWA Tokenisation Platform Swarm Markets to Offer NFTs based on gold ownership - Germany-based RWA tokenisation platform Swarm Markets is planning on offering gold-based NFTs to users. The NFTs will be available to only those users who pass KYC and AML checks. The gold bars backing the NFTs will be stored in Brink’s vault in London. Users will be allowed to swap the NFTs in a peer-to-peer manner via Swarm's decentralized over-the-counter (dOTC) platform.
Only $2T of Tokenized RWAs by 2030 in Base Case forecasts McKinsey - McKinsey’s latest report predicts that financial institutions are likely to embrace blockchain technology for traditional financial instruments at a slower pace and limited range of assets than more optimistic reports. Even in an optimistic scenario, the market for tokenised assets might go up to $4 trillion. These figures stand in sharp contrast to previously published reports by Boston Consulting Group and 21shares which estimate the tokenised assets market to grow to $10 trillion by the end of the decade.
MiCA Regulations Set to Accelerate Investment in Surveillance Systems in Crypto Trading - As per the report ‘The Impact of MiCA on Crypto Market Surveillance: Insights and Challenges’ commissioned by Eventus, crypto trading is likely to see an increase in surveillance systems due to upcoming MiCA implementation. The report is based on a survey and series of interviews with senior executives at 68 firms engaged in crypto trade across the buy-side, sell-side and exchanges. The study also reports that only about 9% of the firms that come under the purview of MiCA are prepared for its implementation, and about 25% have not begun any preparations.