Former CFTC chair and ‘Crypto Dad’ says 2019 is the year to get serious about crypto policy 54303

Former CFTC Chairman Christopher “Crypto Dad” Giancarlo left his role at the regulator this summer, but now he’s stepping even further into the crypto world. Now as a board member for the Chamber of Digital Commerce, Giancarlo is using his expertise to further policy talks across the board, not just on a CFTC/SEC level. Giancarlo sat down with The Block to talk transitions in the regulatory space, as well as his own transition in the industry.

The Block: At the time of your departure from the CFTC how do you feel attitudes toward crypto have shifted from the time you took the position as chairman?

Giancarlo: I think quite dramatically, one of my perspectives on the CFTC at the time I took the helm, it was inordinately backward-looking, perhaps justifiably, but inordinately. So much of its energy and attention was on completing Dodd-Frank reforms to derivative markets. And in Dodd-Frank, there’s no mention about anything technological including crypto assets or blockchain, and the agency’s attention was primarily drawn to that. To its credit, the agency had developed an informal working group under Jeff Bandman that was looking at emerging crypto assets, primarily bitcoin. It was that effort that I accelerated with the formation of Lab CFTC.

The Block: How are you looking at the EOS and Sia settlements with the SEC? Can you provide any insight into what might have gone on there?

Giancarlo: One of the things I want to avoid doing is commenting on activities by the agency. I’m not the type, and don’t want to be seen as the type of former chairman who is looking over the shoulder of the incoming team and commenting on them. What I would say is that it generally shows a continuing focus and attention in this space by the agencies.

The Block: How have you seen the attitudes of regulatory bodies shift in recent years? What is the current attitude characterized by?

Giancarlo: 2017 I think was the year that regulators really woke up to the accelerating pace of crypto assets because of the bitcoin bubble. I would say 2019 is the year in which there’s a growing recognition that regulators and policy makers need to do more than just be aware of these, but may actually need to look at some policy responses. And I think the thing driving that in 2019 is a combination of Libra and the prospects for central bank digital currencies.

The Block: Looking at recent developments, we saw Regulation A+ emerge as a possibly compliant way forward for some companies. What is your take on that innovation, and what other innovations can we perhaps expect to see?

Giancarlo: I think that it shows that the SEC under Jay Clayton is moving beyond just getting smarter and more aware, but actually thinking about some of the policy responses.

The Block: I understand you’ve said you’re not interested in looking over new leadership’s shoulder, but members of the SEC have said they feel federal securities laws adequately tackle digital assets because they are technology agnostic. Do you see the legislation as operating fully for the digital assets space?

Giancarlo: I would go further afield than just SEC/CFTC specific. I do think the time has come for thoughtful consideration of a digital dollar. I think that the dollar’s status as the world’s primary reserve currency should be enhanced with a digital component and done in a way that doesn’t have to disintermediate the traditional banking system but can be done so traditional finance financial intermediaries can play a role in a digital component to the dollar. I don’t see the Federal Reserve becoming a deposit-taking institution, but where banks would continue to do that, but would use a uniform set of technology protocols in order to provide access to a digital dollar format.

The Block: Looking into some of your ventures now, I understand you’ve joined the Chamber of Digital Commerce.

Giancarlo: Yes. I’ve been very impressed with their work over the past several years in serving as a sort of a go-between. There’s this FinTech phase of innovation and policymakers helping to both translate the technology into concepts and things that policymakers can understand and interact with and giving policy makers a similar ability to interact with the innovators. And so I think with the chamber, almost uniquely, I think provides a very good interface between the world of Washington and the world of financial innovation.

The Block: I remember I read somewhere when you joined that you were looking to streamline and modernize the regulatory landscape. Which areas are you specifically immediately looking to streamline and modernize in your role on the board?

Giancarlo: As a former chairman, I will leave the new leadership to focus on CFTC-related matters, and I have every confidence in the leadership of the SEC to do that. But there’s a need for policy makers and innovators to come together to lay down a policy framework upon which these innovations can move forward with greater regulatory and legal certainty. A good example, although not a perfect analogy, is the period during the Clinton Administration when a Republican Congress and the Democratic administration came together to develop the foundation for the first phase of the internet revolution, the digitalization of information.

It’s a do-no-harm approach that allowed for very rapid innovation and global leadership. The reason why it’s not a perfect precedent is because digitization of information is a process that certainly falls into a regulatory light zone because of the First Amendment restrictions on regulation of speech. When it comes to financial areas, that’s always been a regulatory heavy zone. Some of the same precedents don’t apply, but what I think should apply is that same commonality of purpose between policy makers and innovators to want to create a regulatory and policy foundation upon which innovation can proceed in a way that is, intelligent, that’s thoughtful, aware of policy concerns, whether it be about privacy, whether it be about appropriate anonymity, whether it’d be about regulatory transparency,or for oversight where we can make sure that the right policy imperatives are brought to bear and yet a framework that can bring certainty to innovators so that they can move forward with innovation, and knowing the consequences of decisions they make.

So what I hope to do in my post-CFTC life is be an advocate for sound policy development. Not CFTC or SEC specific, but across the board where I can use skills I have as a communicator and an advocate for innovation in a well-regulated environment, and with relationships I build, hopefully help communicate that message for the need for sound policy here in the U.S. So that once again the U.S. can emerge as a leader in this new phase of the digitization of our modern world, digitization of finance in this case.

The Block: You’ve been affectionately dubbed “Crypto Dad” by the industry. How do you feel that title came about and where did this generosity towards digital assets stem from, especially in a regulatory environment some consider hostile towards the digital asset world?

Giancarlo: So the title came about out of that February, 2018 hearing that chair Clayton and I did before the Senate Banking Committee. We had been asked to testify on Bitcoin and crypto assets. We’d prepared a lengthy written testimony to Congress, and the night before, I was preparing my oral remarks and I looked at this 60-plus page, 100-footnote document and said, you know, I cannot summarize that in five minutes. I went in the next morning and when I was asked to speak in my opening address, I actually put the paper down and said, look, you’ve got my written submission. What I want to do is speak to you for a moment not as a chairman of a regulatory agency, but as a father, as a dad. I explained that I had just come back from our annual family ski trip with my children and my nieces and nephews and at the dinner table every night all they wanted to talk about was Bitcoin.

My children grew up in a financial family. I’ve worked on Wall Street for my career and I’ve tried to interest my kids in the stock market since they were young, and they had no interest in it and suddenly they’re very, very interested in Bitcoin. And some of my nieces, in fact, one of my nieces was a bitcoin holder. I said to Congress, I noticed some of your heads are nodding, some of you probably have the same conversations. I said, it strikes me that we owe it to this generation to treat their interest in this new asset class not with derision and disdain, but with respect. If nothing else, we owe it to them to get the policy right so that they’re not prey to fraud and misappropriation, but more that they can build a framework upon which they can build this new structure.

And it was from that my Twitter account exploded and I was dubbed Crypto Dad. It’s something that was unexpected, delightful at the same time, but more importantly, I think it showed that I stumbled onto something. We have a generation that came of age in a financial crisis when all of the traditional institutions that were supposed to provide stability and certainty seem to have fumbled, and in some cases failed. I think there is a generational interest here that is not going away, is not worthy of being dismissed, but should be taken seriously. I take it seriously, and I must say that, in the early days of the internet, and I’m old enough to have been around them, the same people dismissing crypto assets now were dismissing the internet as good-for-nothing other than access to pornography. It was dismissed as a fad that would fade. Well in fact you can’t even hail a taxi today without using an internet app. Our whole world has been dramatically changed in many cases for the better by the internet. What I called it, the digitalization of information, well now we’re on the digitalization of assets, the digital tokenization of a value, and it’s as fundamental a change as the early internet was.

I think for the adults in the room the choice is to put down solid policy frameworks upon which this new phase of digitalization can be built or to do nothing and see jurisdictions that put down solid policy foundations become the leaders in innovation. I don’t want to see the U.S. left behind. I want to see the U.S. do what it’s traditionally done in the face of technological revolution. And that is take a leadership role. I think that’s achievable if we put down the right policy prescriptions, and that’s why I’m pleased to join the Chamber of Digital Commerce, because it advocates for solid policy foundations and does a great job of putting the right experts forward and engaging the right communications with policy makers to maximize the opportunities. So if Crypto Dad can answer that effort, then I’m delighted to do so.

Source: Theblockcrypto.com

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Walletry – on the wave of technological progress 3999

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The Walletry crypto wallet team constantly introduces new and proven technical solutions aimed at increasing comfort and protection for its users. Let’s talk about some of them.

First of all, it is worth highlighting the use of cross-chain bridges, which allow traders to change assets from different blockchain ecosystems. The internetwork exchange is based on a smart contract, it takes place quickly and is not subject to additional fees.

Walletry developers pay special attention to the aspects of security and reliability. When creating a wallet, a Seed phrase consisting of 12 English words is generated. It, together with the private key, provides access (return of access) to the assets stored on it. Two-factor authentication (2FA) is used, when in addition to the password, when logging into your account, you need to enter a code that will additionally be sent to your smartphone or e-mail.

And yet, development of a version of the crypto wallet for personal computers has already begun. It will be no less convenient than that available for mobile devices.

One thing is obvious. The Walletry team still has many tasks to solve, because its global goal is to make the project one of the most innovative and in demand.

Walletry: https://walletry.ai/

 

Disclaimer: This is a Press release. The statements, views and opinions expressed in this article are solely those of the content provider and do not necessarily represent those of our website. We does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.

PropyKeys Officially Launches, Introducing Onchain Home Addresses as a New Asset Class 5818

Now on Coinbase’s Layer-2 Base, PropyKeys aims to democratize real estate investing by enabling users to mint addresses and deeds onchain

PropyKeys, a standout project within the Propy ecosystem known for its blockchain-powered real estate solutions, today announced the public launch of their innovative decentralized application (dApp) that enables users to mint a digital address corresponding to a tangible property. Deployed on Base, Coinbase’s layer-2 network, and powered by the PRO token, users can mint digital versions of any home addresses or global landmarks. Furthering Propy’s mission to democratize real estate ownership, PropyKeys is creating a home addresses platform and property deed storage on the blockchain.

Within just two months of invite-only beta testing, PropyKeys saw widespread adoption with over 1,600 addresses minted, including 300 global landmarks. By bridging the physical realm with the digital landscape, PropyKeys is empowering users to create digital representations of real-world property addresses, similar to possessing a domain name for a segment of the internet. After an address is acquired, the buyer can later transfer ownership to the owner of the corresponding property in exchange for additional staking power.

PropyKeys is setting a new standard for property deed security by shifting from paper-based to digital, algorithm-secured systems. This transition to an onchain, open-source, and community-managed registry enhances protection against deed theft, ensuring a trustworthy environment for property transactions.

“The enthusiasm we’ve seen even during our closed beta has been astounding. Transitioning from beta to public launch with such positive user adoption highlights the demand for innovative real estate solutions onchain. It’s been incredibly exciting to witness the community’s eagerness to engage with PropyKeys, signaling a bright future for blockchain in real estate,” said Andrew Zapo, Co-Founder and COO of PropyKeys.

New Developments & Features

In coordination with the public launch, PropyKeys is releasing a series of new features that provide an engaging and accessible introduction to real world asset (RWA) tokenization. As of today, PropyKeys is launching a staking mechanism, enriching the platform with new incentives. This feature rewards users with PRO tokens—available on Coinbase—for their contribution in minting and safeguarding onchain addresses and onchain title deeds.

Additionally, PropyKeys provides users the ability to mint a personalized AI-generated global landmark NFT such as the White House or Big Ben. Utilizing artificial intelligence, users can create detailed digital renditions of renowned global landmarks. These AI-generated landmarks offer minters a wide array of iconic structures, enhanced by the ability to customize their NFTs such as favorite cryptocurrency logos and styling. This distinctive customization capability transforms each NFT into a unique digital collectible, setting PropyKeys apart in the realm of digital art.

Digital Solutions for Real World Challenges

Addressing the challenges within the real estate sector, Propykeys and Propy’s ecosystem are dedicated to dismantling traditional barriers to entry, such as high title fees and operational inefficiencies. By integrating solutions to make digital ownership more accessible, secure, and user-friendly, PropyKeys aims to revolutionize the $280 trillion real estate market, combating deed fraud and making homeownership more secure and accessible.

“The process of buying or selling a home is overdue for a transformation,” says Natalia Karayaneva, CEO of Propy. “We are proud of the talented team behind Propykeys and happy that they chose Propy ecosystem to build. It amazes me to see how much they achieved to increase the adoption of onchain real estate in such a short period. Paving the way for a future where real estate transactions are as easy as sending an email.”

By offering a dynamic entry point to the Propy ecosystem and facilitating onchain title management, PropyKeys empowers anyone to begin their blockchain-based real estate journey. From minting home addresses to verifying ownership and enabling instant property sales, access to RWA or micro-mortgages, PropyKeys stands at the forefront of the industry’s digital transformation.

For more information, please visit please visit PropyKeys.com

About PropyKeys:

PropyKeys, a gamified platform within the Propy ecosystem, is redefining real estate ownership through blockchain technology. Officially launched in March 2024 on Coinbase’s Base, a layer-2 network, PropyKeys allows users to mint digital addresses and deeds for real-world properties. By enabling the digital representation of property addresses and offering a secure, blockchain-based platform for property deed storage, PropyKeys aims to make real estate ownership more accessible, secure, and engaging. With features like AI-generated landmark NFT minting and a novel staking mechanism, PropyKeys is setting new standards in how properties are owned, traded, and verified in the digital age.

M2 launches MMX Loyalty Rewards: Hold MMX Tokens for a chance to win share of 300,000 USDT! 6106

M2, ‘The New Home of Crypto’, is thrilled to announce the launch of an exciting new campaign aimed at rewarding all MMX token holders on its native M2 exchange. The campaign, which runs from 08th of March to the 19th of April, offers participants the chance to win their share of a whopping 300,000 USDT simply by holding MMX tokens in their M2 Wallet.

Campaign mechanics:

Hold a minimum of 200 MMX tokens in your M2 wallet to qualify for entry into the draws. The more MMX tokens you hold, the greater your chances of winning. Existing MMX holders are automatically eligible for the draw from the campaign’s launch date. New customers can join the campaign by purchasing 200 MMX tokens during the campaign period.

Weekly draws schedule:

  • 15th March: 20,000 USDT draw – top prize 2,000 USDT
  • 22nd March: 30,000 USDT draw – top prize 3,000 USDT
  • 29th March: 40,000 USDT draw – top prize 4,000 USDT
  • 5th April: 50,000 USDT draw – top prize 5,000 USDT
  • 12th April: 60,000 USDT draw – top prize 6,000 USDT
  • 19th April: 100,000 USDT draw – top prize 10,000 USDT

The campaign will conclude with a final draw on April 19th at the Token2049 event in Dubai, featuring a top prize of 10,000 USDT from a guaranteed prize pool of 100,000 USDT.

Eligibility:

To qualify for the MMX Loyalty Rewards, participants are required to hold their MMX tokens within an M2 wallet. All M2, MMX holders, whether existing or new, are eligible to participate in the campaign from the day of its launch subject to the exclusions specified in the Terms and Conditions. This inclusive approach ensures that all members of the MMX community have the opportunity to take part and potentially win big.

Campaign duration:

Spanning from March 8th to April 19th, this campaign celebrates the commitment of the MMX community by offering guaranteed winnings from a substantial prize pool of 300,000 USDT. Participants are encouraged to act swiftly to maximize their chances of winning.

Quotes:

“Our MMX token promotion campaign underscores our commitment to rewarding our loyal community members and driving engagement within the MMX ecosystem,” said Stefan Kimmel, CEO of M2. “We’re excited to offer this exclusive opportunity to our valued MMX holders and look forward to seeing the positive impact it has on our community.”

How to participate:

To participate in the campaign, MMX holders simply need to ensure they hold a minimum of 200 MMX tokens in their M2 wallet. Existing holders are automatically entered into the draw, while new customers can join by purchasing 200 MMX tokens during the campaign period.

Conclusion:

With a total prize pool of 300,000 USDT up for grabs, distributed through escalating weekly draws, M2’s MMX token promotion promises to be an exhilarating opportunity for MMX holders to win big while reinforcing the token’s value within the crypto market. This campaign not only underscores the value of holding MMX tokens but also solidifies the bond between M2 and its community.

This offer is from M2 Global Wealth Limited, a registered Digital Asset Business regulated and authorized by the Securities Commission of The Bahamas. It is not a product offered by M2 Limited; M2 Custody Limited, which is regulated and licensed by the Financial Services Regulatory Authority of Abu Dhabi Global Market.

About M2

M2 is a leading crypto exchange platform committed to providing a secure and transparent trading environment for crypto enthusiasts worldwide. With a focus on regulation, security, and transparency, M2 aims to redefine the crypto investment experience and empower users to explore the vast potential of digital assets.

Most anticipated AI trading tool by Kelp.org (KELP) announces presale 7166

Decentralized finance (DeFi) is abuzz with anticipation as Kelp (KELP), a project with the potential to reshape the trading industry, gears up for its presale. With a comprehensive ecosystem of groundbreaking products and services, Kelp.org is set to redefine the way individuals and institutions interact with the digital economy.

Kelp’s transformative vision lies in Kelp’s Autonomous Trading Engine (K.A.T.E.), seamlessly redefining the way users trade utilizing an unique approach to AI. K.A.T.E. empower users to trade cryptocurrency automatically building each user a winning portfolio, Averaging 88% APR yearly with over 7,000 assets tracked in equities and cryptocurrency, so each user will be able to spend more time with the ones they love. This paradigm shift has the potential to fundamentally alter the way people trade because they don’t need to trade, deeming KATE the title of the “Aladdin of crypto.”

Complementing KATE, Kelp’s whitepaper plans to transform cryptocurrency as we know it creating “Stable money for all.” Leveraging cutting-edge technology, this offers an experimental cryptocurrency catering to the evolving needs of merchants and customers alike. Its innovative features and seamless integration with Kelp’s DeFi ecosystem set it apart from traditional cryptocurrency, paving the way for a more streamlined and secure adoption solving the difficulties between integrating fiat and cryptocurrency in a decentralized manner.

Beyond its flagship products, Kelp’s comprehensive DeFi ecosystem encompasses a decentralized exchange (DEX), staking platform, Kelp’s Autonomous Trading Engine (K.A.T.E) and over 7 other protocol features. This approach caters to the diverse needs of DeFi users, providing them with a one-stop platform for managing their digital assets and exploring the full potential of decentralized finance.

Kelp.org Presale

The upcoming Kelp presale marks a pivotal moment in the evolution of DeFi, offering early adopters an exclusive opportunity to become a part of this transformative project. With a total supply of 80 billion tokens, the presale will allocate 31.25% of $KELP tokens, providing participants with a chance to secure a stake in the future of AI.

To participate in the presale, individuals can visit the Kelp.org and participants can contribute to the presale using various cryptocurrencies, including USDT, BNB, BTC, and ETH. #KelpersUnite

Conclusion: Embracing the future of DeFi with kelp

The Kelp.org presale is a call to action, inviting individuals worldwide to join the DeFi and AI revolution. With its innovative products, unwavering commitment to security, and transparent approach to DeFi services, Kelp is poised to reshape cryptocurrency, empowering individuals and businesses alike to embrace the future of finance. As the presale approaches, anticipation rises high, signaling a new era of AI driven inclusivity, accessibility, and innovation.

For more information about Kelp.org, visit:

Website: https://kelp.org

Founder: Ed Bishop

Terraform Labs Rolls Out Station v3 Dashboard 7187

Terraform Labs Pte Ltd. (TFL), a leading software company specializing in blockchain technology, today announced the launch of a major update to Station, the company’s cross-chain wallet, to bring enhanced staking, governance, and portfolio management to users.

“The launch of Station v3 Dashboard continues the momentum that TFL has been building,” said Chris Amani, CEO of Terraform Labs. “Our talented and dedicated team has been hard at work quietly building best-in-class, cross-chain applications. We are planning to roll out more exciting updates and new applications that bring utility to users in the coming months.”

New features integrated into Station v3 Dashboard include portfolio management powered by Pulsar Finance; seamless cross-chain swaps powered by Skip Protocol, including the innovative fee token top-up feature introduced with Station v3 Extension; a streamlined staking interface, including Alliance staking, for supported chains; improved governance UX; and advanced cross-chain activity history, to understand cross-chain transaction history at a glance.

The launch of Station v3 Dashboard is TFL’s latest expansion of its Web3 offerings. The company recently announced its acquisition of Pulsar Finance, a leading cross-chain portfolio manager and data provider, launched Station v3 Extension for Chrome and Edge, and released Warp Protocol v2, the decentralized automation layer for Cosmos.

About Terraform Labs

Established in 2018 and based in Singapore, Terraform Labs Pte Ltd. (TFL) is a leading software development company specializing in blockchain technology. Powered by a globally distributed workforce of experienced Web3 developers and crypto natives, TFL is one of the few companies to have developed an end-to-end Web3 experience, inclusive of a blockchain, wallet, block explorer, RPC solution, set of apps, and a suite of developer tools. Aiming to enable the next evolution of the Internet built on robust, decentralized economies, TFL serves as a core contributor to the Terra blockchain and is the creator of products and tools such as Alliance, Station, Warp, and Enterprise.

Multichain Gaming Incentivization Token WUFFI Expands to Solana via Airdrop 7292

WAX, one of the largest Web3 ecosystems for gaming and NFTs, today announces that WUFFI, a next-generation gaming meme-coin and incentivization token for third-party game developers, is expanding to the Solana network via an airdrop.

As part of this expansion, WUFFI has earmarked a significant allocation of WUF tokens for holders in the Solana ecosystem. This initiative welcomes new members to the $WUF Pack and strengthens the bond within its existing community.

WUFFI’s journey has been marked by remarkable community support. The team’s initial airdrop on the WAX blockchain resulted in a significant surge in active participants across platforms. The move to Solana is expected to further accelerate this momentum and bring new opportunities for enthusiast engagement and ecosystem growth.

In line with its community-focused approach, WUFFI will conduct a snapshot for BONK holders on the Solana network on March 28th at 4 PM PT to determine the distribution of WUFFI tokens.

The token allocation strategy for the Solana expansion allocates 10% of the total WUF supply to BONK holders. Eligibility for participation requires Solana wallets to hold a minimum of 25 million BONK tokens locked via https://bonkrewards.com.

WUFFI is an incentive token for third-party game developers that lays the groundwork for gaming and future game development. The broad distribution of $WUF lays the foundation for incentivizing third-party game developers to tap into a vibrant base of token holders and create games with ready-made reach and utility.

Each partner will provide unique utility to the project, ranging from gaming integrations to exclusive in-game items.

WUFFI will expand to more chains, including Solana, in the coming months and has already partnered with over 80 partners, including marketplaces like NFTHive and AtomicHub; games like Landbox, Music Mogul, FGL, and Brawlers, and more.

The WUFFI team invites cryptocurrency enthusiasts and Web3 gamers to join this exciting new chapter.

For more information, please visit: https://www.wuffi.io/

About WUFFI

WUFFI is a community-driven, multi-chain meme coin that has captured the hearts of cryptocurrency enthusiasts worldwide. With a focus on innovation, inclusivity, and community engagement, WUFFI provides a fun and rewarding experience for its members across multiple blockchain networks.