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Central bank digital currencies, crypto will coexist: experts


Central bank digital currencies, crypto will coexist: experts
Central bank digital currencies, cr.
But looming regulations on crypto assets might change landscape, experts say at webinar co-hosted by The Investor and ANN
Government-backed coins and private cryptocurrencies will coexist for a while, despite rising regulatory walls set by the government to counter virtual coins, experts at a global webinar session said Thursday.
Noting that cryptocurrencies and digital currencies by governments are “two different animals,” they will coexist for now partly because current cryptocurrencies are not actually solving payment problems.
“How many of them (cryptocurrencies) are solving actual payment problem? Most of them are speculative and used as a means of storage,” said Nelson Chow, chief fintech officer of the Fintech Facilitation Office at the Hong Kong Monetary Authority. ....

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Benchmark Protocol to Revolutionize DeFi Space


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Built on the Ethereum Blockchain, the Benchmark Protocol aims to change the weak points of the DeFi space and connect traditional finance with the cryptocurrency market.
The Inventor of the Benchmark DeFi project, a top Citibank executive, defines it as a “Supply Elastic Collateral and Hedging Device”. Accordingly, the protocol is designed to run on the VIX Volatility Index, with its token called MARK, pegged to the Special Drawing Rights (SDR).
Introduced as a Fair Launch, the Benchmark launchpad attracted several investors in the first weeks with word of mouth instead of Initial Exchange Offerings or Initial Coin Offerings, which usually fail in the long run. The Benchmark protocol reached a total of $34 million in just the first three weeks. After successfully culminating the Fair Launch, Benchmark transitioned their rewards structure from the Launchpad to The Press, where Liquidity Providers can earn 60-100% APY ....

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The US has already lost the 2020 crypto regulation race to Europe


12/31/2020 8:59:34 AM GMT
When it comes to crypto regulation, the United States is falling further behind more progressive and visionary nations.
2020 has been a stellar year for the crypto economy, with more enterprises and institutions than ever before implementing the technology. Big announcements, such as PayPal’s decision to enable its users to buy and sell Bitcoin (BTC), have understandably dominated the headlines. However, pivotal regulatory developments across the globe have largely flown under the radar and arguably present even greater significance for crypto in the long term.
The importance of clear regulatory frameworks cannot be overstated, with patchy and insufficient legislation offering a major barrier to enterprises looking to digital assets and distributed ledger technology. It is clear now that a number of jurisdictions in the European Union and Southeast Asia are leading the regulatory race, with clear taxonomies for digital assets in place whil ....

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