GildCoin - Crypto News

2022-11-21 20:00:11 ​​Uzbekistan Licenses 2 Crypto Exchange Service Providers

The regulatory body overseeing the crypto market in Uzbekistan has issued licenses to two companies that will be providing exchange services. The decision to authorize their activities aims to make it easier for Uzbekistanis to purchase and sell digital currencies, the agency said.

Uzbekistan’s National Agency of Perspective Projects (NAPP) has granted licenses to two entities established to offer cryptocurrency exchange. Crypto Trade NET and Crypto Market have been registered as “service providers in the field of crypto assets turnover,” the authority announced.

The NAPP, which is subordinated to the presidency in Tashkent, is the main regulator for the Central Asian nation’s crypto sector. “The Republic of Uzbekistan is one of the few countries in the world that has a well-formed framework for regulating the circulation of crypto assets,” the agency noted.

The regulator is referring to several presidential decrees and resolutions issued to determine its responsibilities and develop the country’s digital economy, including the crypto space. They introduced rules for the licensing of businesses dealing with cryptocurrencies.

Earlier his year, President Shavkat Mirziyoyev signed a decree expanding the regulatory framework which provided legal definitions for crypto assets, exchange, and mining. The government also adopted new registration rules for miners and introduced monthly fees for crypto companies.

While Uzbekistan already has one cryptocurrency exchange, the government-controlled Uznex, the two licensed companies will work as digital money exchangers or “crypto shops” as defined by the regulations. “It should be emphasized that Crypto Trade NET LLC and Crypto Market LLC became the first crypto shops in the CIS and Central Asia,” the NPP insisted and elaborated:

Crypto shops are designed to provide easier access for citizens to buy or sell crypto assets.

The National Agency of Perspective Projects also urged Uzbekistani citizens “to be as vigilant as possible” and avoid using the services of online trading platforms that don’t have a license to operate in the country. Open / Comment

2022-11-18 22:00:06 ​​Bitcoin, Ethereum Technical Analysis: BTC Nears $17,000 Heading Into the Weekend

Bitcoin was closing in on the $17,000 level on Friday, as cryptocurrency markets rebounded heading into the weekend. The token moved away from a recent support point of $16,200 in today’s session, as bulls reentered the market. Ethereum also moved higher, climbing back above $1,200.

Bitcoin (BTC) rebounded on Friday, as the token moved towards the $17,000 mark heading into the weekend.

Following a low of $16,479.99 in Thursday’s session, BTC/USD raced to an intraday high of $16,947.06 earlier today.

The move sees BTC move further away from its recent floor of $16,200, which was a point of stabilization following the volatility caused by the FTX collapse.

Looking at the chart, this surge has pushed BTC closer to a ceiling of 38.30 on the 14-day relative strength index (RSI).

As a result of this collision, prices have since dipped, with the token currently trading at $16,760.43.

In order to extend its earlier run, bitcoin bulls will need to break the current ceiling on the RSI indicator.

Ethereum (ETH) was also back in the green in today’s session, as the token was once again trading above $1,200.

ETH/USD, which slipped below this level on Thursday following a strengthening USD, rose to a high of $1,224.97 earlier today.

As a result of this move, the world’s second largest cryptocurrency moved back above a recent support point of $1,220.

This comes as the 14-day RSI bounced from a key floor of its own at 38.00, and as of writing, the metric is tracking at 40.46.

The 10-day (red) moving average also seems to have started to trend sideways, which signals the current price consolidation in the market.

ETH bulls will likely continue to target a rally above $1,300 should this floor hold during the weekend. Open / Comment

2022-11-18 20:00:08 MetaJetz

Luxury transportation is a dream to many, and the founders of this project have spent the past seven months working tirelessly to utilize the NFT marketplace and make this all possible.

Each MetaJetz is an intricate work of art, hand drawn with hollow and very aerodynamic designs.
Vibrant color schemes all across the selections ensure that every buyer is able to satisfy their palette.

4000 Light MetaJetz’s : The Sparrow 977’s
3400 Midsize MetaJetz’s : The Seahawk 677’s
2500 Heavy MetaJetz’s : The Speed Demon 477’s
99 Executive Meta Jetz : The Bold Mamba 177’s

A MetaJetz is an asset in the form of an NFT that will serve as a key to many travel incentives whilst also earning currency when rented in the metaverse.

It is also a fully electric aircraft prototype which is an avenue to raise awareness against the fossil fuel emissions traditional aircrafts create and harm our airspace and environs.

Steady donations from this project are made towards the research and development of real life electric aircrafts.

Discord
Instagram
Twitter Open / Comment

2022-11-17 15:00:16 Cheelee: GameFi short video platform. Watch. Play. Earn.

Cheelee is the first GameFi short video platform where the user can make money while viewing the feed. Upon registration of your in-app wallet, you receive special NFT glasses, and you can start making money.

The mechanics are based on the Attention Economy model, where user’s attention is treated as a commodity for which social networks begin to pay. I looked into WP and got to the point.

Let’s take a look at some of the highlights:
1. A sustainable financial model. An extremely important indicator in the current market.

Cheelee is a social network, whose revenue is by 30% provided by advertising, in-game purchases and collaborations with brands, while for most m2e projects this figure is no more than just 1%.

2. The project is focused on a wide audience of social networks, it is 4.6 billion people, and plans to reach the 1st billion in the next 4 years.

3. The Cheelee social network was not created from scratch. There are almost three years of development behind it, 100+ team members, experience and continuity in the form of NUTSon social network with more than 1.5M uploads.

4. Free project entry. You do not need to spend hundreds and thousands of dollars to become a member of Cheelee, you just need to sign-up and start using the app.

5. You can earn without changing any of your habits. Just scroll through the feed, watch videos and get tokens.

All this sounds cool, but what about the prospects for the token price?

The emission of tokens is limited. There is a deflationary economic model, while the complexity of the mining will increase.

To support the token rates (there will be two CHEEL and LEE), the project has a Stability Fund, where up to 100% of profits from NFT sales and in-app transactions and 70% of advertising revenue, in-game purchases and collaboration with brands will be donated.

Now there is a chance to get WL and take a part in the giveaway of 50 000$!!!

http://bit.ly/3TAJfu4 Open / Comment

2022-11-15 20:00:10 ​​Metaverse of Entertainment Expected to Grow to Almost $29 Billion Driven by Consumer Spending by 2026, Study Says

A study from Technavio, a market research firm, has predicted that the area of the metaverse dedicated to entertainment, including virtual concerts, video games, and movies, will grow to $28.92 billion in value from 2021 to 2026. The report states that 33% of this growth will originate in U.S. markets, due to the intersection of gaming and film companies.

The metaverse and its future adoption continue to be a matter of active research by market forecasting companies. A report issued on Nov. 11 by Technavio, a market research firm, has determined that the market size of the metaverse initiatives related to entertainment will grow to reach $28.92 billion in the period from 2021 to 2026.

The report identified two key areas that will fuel this growth, including the rising consumer spending on virtual concerts and virtual events, made possible by the growing advancements in virtual reality (VR) and augmented reality (AR) technologies. The second key factor is the rising adoption of online gaming, which, combined with the aforementioned technologies, offers a level of immersion that will encourage spending in this area.

However, the study also shows that there will be challenges to the growth of the market, including concerns regarding privacy and security in the metaverse. This issue has already been raised by institutions like the World Economic Forum (WEF) and even Interpol, with the latter already starting to bring their services into a police-focused metaverse.

The study further predicts the rise of the metaverse in film production, forecasting that movies will become interactive and viewers will be able to affect the cinematic environments, using VR technology for this purpose. There have been attempts at achieving this before, but none have commanded mass mainstream success.

Most of the projected metaverse growth will come from the U.S., according to the study, due to a confluence of factors. 33% of the increase is projected to originate in the area thanks in part to the “rapid convergence of the entertainment industry and traction of the gaming culture, the integration of gaming services into the service offerings of major entertainment brands, and increased investment to create more immersive gaming and entertainment experiences.”

Other reports have also made projections about the metaverse in the entertainment industry. On Sept. 12, JPMorgan stated that the Chinese metaverse gaming market could explode to over $100 billion in value. Also, in March, Citi predicted the metaverse might be a $13 trillion opportunity. Open / Comment

2022-11-12 20:00:11 ​​Bitcoin, Ethereum Technical Analysis: BTC Heads Lower on Saturday, as FTX Saga Continues

In a week of turbulence, cryptocurrencies maintain this sentiment into the weekend, with both bitcoin and ethereum moving lower. Bitcoin once again slipped below $17,000 on Saturday, as it was reported that a hack on FTX had taken place. Ethereum also moved lower today, as the token remained below $1,300.

Bitcoin (BTC) was back below $17,000 to start the weekend, as markets reacted to the latest news surrounding FTX.

It was reported that FTX had suffered a hack, which saw $600 million withdrawn from the collapsing platform.

In a week which has been dominated with FTX related news, crypto somewhat responded to the headlines, with BTC falling into the red as a result.

BTC/USD dropped to an intraday low of $16,543.48 on Saturday, less than 24 hours after residing at a high of $17,480.18.

As can be seen from the chart above, the 14-day relative strength index (RSI) is currently tracking at 34.82, which is below a ceiling of 38.00.

Bulls hoping to move back towards $18,000 will likely need to force a breakout from the aforementioned resistance point.

Ethereum (ETH) started the weekend below $1,300, with the token moving below a key support level.

Following a high of $1,301.80 on Friday, ETH/USD slipped to a bottom of $1,211.33 earlier in today’s session.

This drop in price saw the world’s second largest cryptocurrency fall below a floor of $1,225 on Saturday.

Looking at the chart, the sell-off transpired as a downward crossover between the 10-day (red) and 25-day (blue) moving averages occurred.

As a result of this cross, some believe that ETH could be on its way to $1,000, with the possibility of further drops below this point.

Currently, the RSI is tracking at 40.82, with the next visible floor at the 38.15 point. Should price strength fail to hold at this level, the chances of the aforementioned plummet to $1,000 occurring will increase. Open / Comment

2022-11-09 20:00:08 ​​Cryptocurrencies Affect Central Bank Tasks, Dutch Monetary Authority Says, Urges Global Regulation

Convinced that cryptocurrencies are affecting the tasks performed by monetary authorities around the world, the Dutch central bank has urged for comprehensive international regulations. The call comes after research into the development of crypto assets and policy responses.

Bitcoin, tether, and other digital coins are affecting many of the tasks and objectives of central banks and supervisory authorities, according to Steven Maijoor and Olaf Sleijpen, members of the Executive Board of De Nederlandsche Bank (DNB). The two presented a new study, “Crypto-assets: evolution and policy response,” into the rapid development of cryptocurrencies.

“While the crypto markets have become somewhat less hyped over the past six months due to global interest rate hikes, investment fraud and cybercrime, cryptos are here to stay, and international financial authorities simply cannot afford to look the other way,” the Dutch central bank said in a post titled “Proper regulation indispensable for risky cryptos.”

The DNB is emphasizing the importance of swiftly agreeing on international rules for cryptocurrencies. The bank believes that effective regulation would help to leverage their innovative added value, in terms of potential for storing and transferring value without a central party, while avoiding stifling innovation due to the risks associated with their speculative nature.

The authors of the research conclude that “clearly, unbacked cryptos like bitcoin are not suitable for use as money” as their prices are too volatile to allow them to function as a means of payment, store of value and unit of account. Besides the lack of underlying assets, they also highlight the great number of digital coins which, as they say, can be confusing when it comes to pricing.

Stablecoins, on the other hand, should prevent such volatility as they are backed by euros, U.S. dollars, or other assets, adding to the benefits of decentralized transaction settlement, the DNB elaborates. These crypto assets can contribute to cheaper cross-border payments, for example, but without appropriate regulation their widespread use could also pose risks to financial stability.

New EU regulations, such as the Markets in Crypto-Assets Regulation (MiCA) package, differentiate between backed and unbacked cryptocurrencies and introduce requirements for issuers and market participants, the Dutch central bank points out. However, “laws, regulations and supervision will never mitigate all risks, if only because of the international nature of cryptos,” De Nederlandsche Bank notes and vows to contribute to international standards in that area. Open / Comment

2022-11-08 19:00:07 $MRST Listing on OKX

$MRST is being listed on the top tier global exchange OKX!

MRST deposits open at 8:00 am UTC on Nov. 7
MRST/USDT, MRST/USDC Spot trading open at 9:00 am UTC on Nov. 9
MRST withdrawals open at 10:00 am UTC on Nov. 10

Spot trading as well as DEX will be available!


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Join OKX:
https://okx.com/join/55599569 Open / Comment

2022-11-06 20:00:07 ​​SEC Charges 4 People in $295M Global Crypto Ponzi Scheme That Duped Over 100,000 Investors

The U.S. Securities and Exchange Commission (SEC) has charged four people for their roles in a global cryptocurrency Ponzi scheme that duped more than 100,000 investors worldwide. The scheme raised more than $295 million in bitcoin.

The U.S. Securities and Exchange Commission (SEC) announced charges against four people for their roles in a fraudulent crypto Ponzi scheme Friday.

Douver Torres Braga, Joff Paradise, Keleionalani Akana Taylor, and Jonathan Tetreault were allegedly involved in Trade Coin Club, “a fraudulent crypto Ponzi scheme that raised more than 82,000 bitcoin, valued at $295 million at the time, from more than 100,000 investors worldwide,” the SEC described.

Braga created and controlled Trade Coin Club, the regulator explained, adding that the multi-level marketing program promised investors a minimum return of 0.35% daily “from the trading activities of a purported crypto asset trading bot.” Noting that the scheme operated from 2016 through 2018, the SEC detailed:

Braga allegedly siphoned off investor funds for his own benefit and to pay a network of worldwide Trade Coin Club promoters, including Paradise, Taylor, and Tetreault.

The SEC alleged that Braga personally received at least 8,396 bitcoins of the amounts invested, Paradise received 238 bitcoins, Taylor received 735 bitcoins, and Tetreault received 158 bitcoins.

David Hirsch, chief of the SEC Enforcement Division’s Crypto Assets and Cyber Unit, commented:

We allege that Braga used Trade Coin Club to steal hundreds of millions from investors around the world and enrich himself by exploiting their interest in investing in digital assets.

“To ensure our markets are fair and safe, we will continue to use blockchain tracing and analytical tools to aid us in the pursuit of individuals who perpetrate securities fraud,” he emphasized.

The SEC alleged that Braga and Paradise violated the antifraud and securities registration provisions. Paradise additionally violated broker-dealer registration provisions of the federal securities laws. Meanwhile, Taylor violated the securities and broker-dealer registration provisions. The complaint seeks injunctive relief, disgorgement, and civil penalties.

The securities regulator also filed a second complaint alleging that Tetreault violated the securities and broker-dealer registration provisions. Without admitting or denying the allegations, he agreed to settle the charges. Open / Comment

2022-11-03 20:00:11 ​​US Senators Question SEC Why Its Staff Is Quitting at Highest Pace in 10 Years

Six U.S. senators have questioned the Securities and Exchange Commission (SEC) why its staff is quitting at a record pace. “Efforts to ram through hurried rulemaking without proper analysis, deliberation or consideration of downstream negative impacts is nothing short of regulatory malpractice,” the lawmakers told SEC Chair Gary Gensler.

Six U.S. senators have reportedly sent a letter to the chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, inquiring why the securities watchdog’s employees are quitting at a record rate.

The private letter, dated Oct. 27, was signed by senators Thom Tillis (R-NC), Mike Crapo (R-ID), Tim Scott (R-SC), Michael Rounds (R-SD), Bill Hagerty (R-TN), and Steve Daines (R-MT), Reuters reported, noting that it has seen the letter. The Republican senators want the SEC to explain why its staff is leaving the agency at the highest pace in 10 years.

The lawmakers referenced a public report published on Oct. 13 by the Office of the Inspector General, the SEC’s own internal watchdog, detailing staff attrition and reports of discontent. The SEC employees interviewed for the report said they received little feedback on rules they had written, emphasizing their fear of an increased litigation due to shortened industry comment periods.

The senators want Gensler to explain how he plans to address the concerns raised in the report and to allow more time for industry feedback on new rules.

The letter stresses:

Efforts to ram through hurried rulemaking without proper analysis, deliberation or consideration of downstream negative impacts is nothing short of regulatory malpractice.

The letter notes that the securities regulator has introduced 26 new rule proposals this year, more than double the number in 2021 and the highest total of any year in the last five years.

Many people have accused SEC Chair Gensler of overstepping his authority and taking a hostile approach to regulating the financial industry.

He has been repeatedly criticized for taking an enforcement-centric approach to regulating the crypto industry. U.S. Representative Tom Emmer (R-MN) recently accused the SEC of not regulating in good faith. “Under Chair Gensler, the SEC has become a power-hungry regulator, politicizing enforcement, baiting companies to ‘come in and talk’ to the Commission, then hitting them with enforcement actions, discouraging good-faith cooperation,” said the congressman. Gensler believes that most crypto tokens are securities.

Last week, several U.S. lawmakers sent a letter to Gensler inquiring about the revolving door between the securities regulator and the crypto industry. According to the Tech Transparency Project, 28 SEC officials have moved between public service and crypto firms. Open / Comment