Maximum Extractable Value (MEV), in which crypto miners reorder transactions they validate for profit, is not inherently bad, some policy experts point out.
Upcoming High-Level EU Financial Policy Talks Could Steer Crypto Oversight: Source
An informal document shared among EU officials shows digital finance, and thereby crypto, topping a list of priorities to be discussed.
EU Formally Agrees on New Crypto Tax Data Sharing Rules
The finalized rules, set to be published in the EU’s official journal, force crypto firms to report on customers’ holdings to be shared between tax authorities.
‘Extended reality’ to create 860K jobs by 2025: EU Commission
The European Commission has laid out its plans for becoming a “world leader” in Web 4.0 and the Metaverse.
EU’s Metaverse Vision Focuses on Standards, Governance and Funding
The EU isn’t proposing new laws but could spend hundreds of millions on research into virtual worlds.
EU’s Leaked Metaverse Strategy Proposes Regulatory Sandbox, New Global Governance
Virtual worlds will need international engagement to stay open and secure, a leaked European Commission strategy paper said.
EU Metaverse Strategy Set to Examine Privacy, Competition and Rights
A policy paper next week won’t set legislative rules – but could point the way ahead on some key Web3 issues.
EU Commission’s Digital Euro Bill Back on Track for June 28, Lead Official Says
The European Commission is back on track to publish legislation on a digital euro on June 28, after the controversial topic was previously removed from the executive’s agenda, the bloc’s lead financial services official said on Tuesday.
Bitcoin Climbs Past $27.4K but Remains in Holding Pattern as Investors Continue U.S. Debt Limit Vigil
Ether and most other major altcoins rise slightly, even as stocks drop amid worries about whether U.S. lawmakers will reach an agreement before June 1.
Stablecoin survival: Navigating the future amid global de-dollarization
The stablecoins with the largest market cap are pegged to the U.S. dollar, so what risk does de-dollarization pose to stablecoin users?
EU sets up research hub to analyze Big Tech’s AI algorithms
The research unit will be tasked with auditing the AI-backed algorithms used by large technology firms such as Google and Meta.
EU Now Accepting Applications for its Blockchain Regulatory Sandbox
The sandbox is open to “companies from all industry sectors” and public entities, with priority given to more mature projects.
Law Decoded: Crypto retirement plans get hot with Warren and Lummis making their moves, May 2–9, 2022
Last week was marked by reinvigorated discussion on crypto 401(k) among high-profile US policymakers.
‘Let’s build a Europe where Web3 can flourish:’ Crypto companies sign an open letter to EU regulators
Industry representatives call the authorities not to go beyond the scope of the FATF Travel Rule recommendation.
Crypto industry fires back after EU vote to block ‘unhosted’ wallets
“Imagine if the EU required your bank to report you to the authorities every time you paid your rent merely because the transaction was over 1,000 euros,” said Coinbase CEO Brian Armstrong.
IOTA Introduces New Smart Contracts To Circumvent The Network Flaws
The use of smart contracts remains the key turnaround factor with the cryptocurrency space. Smart contracts brought about the decentralization of digital assets and eliminated third-party interferences in crypto transactions.
Distributed ledger and open-source cryptocurrency, IOTA, has just launched a new smart contract beta. This latest move offers its users a platform for getting high-speed and zero-fee transactions.
IOTA emerged within the 2017 ICO boom. The digital asset came to support the Internet of Things that harmonizes physical items into the internet and digital world. Nevertheless, the cryptocurrency floated to irrelevance as interest in it died down in 2018.
Related Reading | By The Numbers: What $1000 In SHIB Is Worth Now
A reinvention of the network by its CEO came earlier this year. With his determination, the CEO decided not to give up on the project by upgrading it by introducing a critical new upgrade.
Advantages Of The New IOTA Upgrade
A report reveals that the beta version inculcates an Ethereum Virtual Machine (EVM). Thus, ERC-20 tokens are now interoperable within the network. Additionally, the writing of smart contracts is now in Solidity (the programming language of Ether) attached in the tangled language of the network.
Furthermore, there is added network sharding on the project. This allows high-degree operability via smart contracts wrapping to the base layer of native tokens. Remarkably, smart contracts creators can set their execution fees which will enable drive-down competitions among different chains.
MIOTA is currently facing a decline | Source: IOTAUSD on TradingView
In comparison with other networks like Ethereum, several people think that the smart contract implementation of the network is late. Nevertheless, Dominik Schiener, the IOTA CEO, is of a different opinion concerning the issue.
Related Reading | Crypto Adoption Boosts Travel: Travala Rises From The Ashes
Schiener explained that they took their time to develop a smart-contract solution that operates to bridge the shortfalls of other competing chains. He cited an instance with Cardano’s smart contract that faces limited throughput while IOTA’s provide unlimited scalability.
Speaking of the zero-fee on the platform, the CEO said it’s a significant competitive advantage. He explained that the feeless nature of the network serves as the doorway for their numerous opportunities.
These include their partnership with multinational companies and governmental agencies and interest from SMEs, startups, and crypto operators. Schiener mentioned that the volatile nature of fees could strain business models and oppose great economic moves.
IOTA cuts across promoting ecosystem growth and decentralized application development via project financing. Though MIOTA is making gradual progress, its current price is still far from its former glory.
However, the European Commission selected the token last month to feature in its blockchain infrastructure project despite its low position. This selection stands as a possible action that could pave the way for future growth for MIOTA.
Featured image from IOTA Services, charts from TradingView.com
EU eyes new money laundering regulator and stricter crypto reporting requirements
The new Anti-Money Laundering Authority would comprise the “centerpiece” of a new supervisory system that would include national regulators.
European Commission, ECB Unite to Consider Potential Pitfalls of the Digital Euro
The digital euro project may get underway in mid-2021 after a period of reviewing any “policy, legal and technical questions” by the two institutions.
CBDCs Could Challenge US Dollar’s Dominance: Deutsche Bank
Central bank digital currencies have the potential to challenge the primacy of the U.S. dollar, according to a new report from Germany’s Deutsche Bank.
EU Proposes Full Regulatory Framework for Cryptocurrencies
The European Commission has formally proposed legislation that will provide a comprehensive regulatory regime for cryptocurrencies.
