European Commission Official Plans to Introduce New Regulations for Crypto

Valdis Dombrovskis, vice president for the euro, social dialogue and financial services at the European Commission, plans to introduce new regulations for the cryptocurrency sector in the region.

“Europe needs a common approach on crypto-assets such as Libra. I intend to propose new legislation on this,” Dombrovskis told EU lawmakers at a hearing on Tuesday.

He further said that the EU should tackle “unfair competition, cybersecurity, and threats to financial stability” in regulating cryptocurrencies.

Interestingly, the European Commission was investigating “potential anti-competitive behavior” with regard to Facebook’s proposed stablecoin Libra. The agency was exploring whether the Libra Association and its proposed payment stack, could prevent peers from being able to compete. (Positive)

Multi-Collateral Dai System to Launch on Nov. 18

Multi-Collateral Dai (MCD) is ready to launch on Nov. 18, according to Rune Christensen, CEO of the Maker Foundation.

He added that MCD will bring additional CDP (collateralized debt position) types as well as new features such as Dai Savings Rate (DSR), which will allow users to earn on their Dai holdings.

MCD will also help integrate the Maker protocol on the backend of open finance dApps (decentralized applications), per the announcement. “The launch of MCD will mark a huge milestone reached for the MakerDAO project—a turning point that will have a strong impact on the future of Decentralized Finance.”

Also, maker (MKR) token holders will soon be able to review and vote on the terms of the DSR, according to the announcement. (Neutral)

UNICEF Launches Cryptocurrency Fund Supported by Ethereum Foundation

UNICEF, the United Nations Children’s Fund, has launched a cryptocurrency fund to support open source technology “benefiting children and young people around the world.

According to the official announcement published on Oct. 8, UNICEF thus became the first U.N. organization “to hold and make transactions in cryptocurrency,” namely Bitcoin (BTC) and Ether (ETH). UNICEF executive director Henrietta Fore added:

“This is a new and exciting venture for UNICEF. If digital economies and currencies have the potential to shape the lives of coming generations, it is important that we explore the opportunities they offer. That’s why the creation of our Cryptocurrency Fund is a significant and welcome step forward in humanitarian and development work.”

Per the announcement, the Ethereum Foundation, a Swiss nonprofit organization, became the first contributor to the new cryptocurrency fund. Aya Miyaguchi, executive director of the Foundation, reportedly said that 100 Ethers — roughly $18,000 at press time — were already sent to the UNICEF via the new partnership.

These funds “will benefit three grantees of the UNICEF Innovation Fund” and “a project coordinated by the GIGA initiative to connect schools across the world to the internet,” according to the announcement. Miyaguchi added:

“We aim to support the research and development of the Ethereum platform, and to grow the community of those that benefit from a technology that will better countless lives and industries in the years to come.” (Positive)

Posjetite našu Mjenjačnicu kriptovaluta

  • brza i izravna konverzija kriptovaluta za fiat valute i obrnuto
  • jednostavna i kvalitetna usluga prema standardima FIMA brenda
  • povjerenje temeljeno na dugogodišnjem iskustvu i rezultatima