CoinMarketCap Earn Fully Supports NFTs Launching $400K in SAND Rewards

CoinMarketCap Earn Fully Supports NFTs Launching $400K in SAND Rewards

CoinMarketCap Earn Fully Supports NFTs Launching $400K in SAND Rewards

[PRESS RELEASE – Please Read Disclaimer]

If there is one good thing we should get out of this 2020, it is that ironically thanks to the COVID-19 pandemic, digital adoption grew to levels never seen in previous years, and much of it passes through the crypto ecosystem.

As part of the strategy to spread knowledge about the ecosystem, CoinMarketCap has deployed its product “Learn Crypto, Earn Crypto“, under the slogan of “acquire crypto assets in a fun and low risk way“.

In this opportunity, the leading price index of the crypto market, has teamed up with the popular virtual world platform based on Blockchain The Sandbox, so that enthusiasts from both worlds can test their knowledge by watching videos while earning the native $SAND tokens.

In total, there are $400,000 valued in $SAND tokens, the prize to be shared between the CMC Earn program alliance and The Sandbox.

After watching a set of explanatory videos on the popular gaming platform based on Blockchain technology, users must complete a quiz to be credited with fabulous prizes in native SAND tokens, which can later be used to access The Sandbox, ASSETS purchases within the platform, or simply staked and obtaining passive income by keeping them in your portfolio.

In total there are three video lessons that users can enjoy and have fun while learning and earning crypto assets related to the Metaverse The Sandbox.

You can access this link to win your first $SAND tokens!

NFTs: Unlimited Adoption

The search for ‘contactless’ solutions for entertainment was not far behind, and gaming also saw greater growth this year as did many digital solutions based on cryptocurrencies.

Best of all, the combination of both worlds, the crypto + Blockchain, has generated a new movement that attracts a lot of attention, where gamers, artists and crypto enthusiasts have joined: the NFTs.

Initially originated as an artistic experiment, the use of non-fungible tokens focused on decentralized games has been boosted since the appearance of Cryptokitties.

Now the Metaverse has evolved and expanded its borders, becoming a subsector of billions of dollars that grows exponentially with its use and adoption cases: gaming, art, music, real estate, among others.

Its unique and unrepeatable capacity, by having a unique identifier, as well as the intrinsic properties of Blockchain technology “transparency, immutability and traceability”, are some of the benefits that allowed to explore the tokenization of assets of any type, beyond the standards fungibles of traditional tokens.

As if that were not enough, its interoperability capacity has made it possible to overcome the barriers between chains, thus allowing a more global and decentralized economy, at the same time that it allows unequivocal digital ownership of the user or creator of the NFT.

The Sandbox: Successful Use of NFTs

Empowering the user and allowing them to monetize their creations directly without intermediaries while allowing them complete control over them, are the most notable use cases that NFTs promote within popular platforms from decentralized worlds such as Decentraland or The Sandbox.

As if that were not enough, the fact of owning virtual LANDs and being able to lease them to monetize this space, in addition to having absolute control of the passive income from assets that are created on these territories, are characteristics that are gaining more and more followers, thanks to the power of Blockchain technology, combined with the best of the real world.

While it is not yet easy to count the statistics on the contribution of NFTs to the gaming economy, their increasing inclusion in gaming platforms is increasingly evident, pointing the way to come.

In this sense, platforms such as Animoca Brands, which have sufficient experience and knowledge between both worlds Blockchain and Gaming, have the probability of greater success in covering this new emerging market niche of NFTs. The Sandbox is a great example of this success.

bout the Sandbox

The Sandbox is a virtual world where players can build, own, and monetize their gaming experiences in the Ethereum blockchain.

The platform’s native token is SAND, an ERC-20 utility token that is used within the platform for all interactions and transactions in the ecosystem.

Title: CoinMarketCap Earn Fully Supports NFTs Launching $400K in SAND Rewards
Sourced From: cryptopotato.com/coinmarketcap-earn-fully-supports-nfts-launching-400k-in-sand-rewards/
Published Date: Wed, 23 Dec 2020 17:08:27 +0000

CoinMarketCap Earn Fully Supports NFTs Launching $400K in SAND Rewards

CoinMarketCap Earn Fully Supports NFTs Launching $400K in SAND Rewards was originally published here https://newsgrowing.wordpress.com/2020/12/24/coinmarketcap-earn-fully-supports-nfts-launching-400k-in-sand-rewards/

A storm is brewing between state regulators and the OCC over fintech licensing

A storm is brewing between state regulators and the OCC over fintech licensing

A storm is brewing between state regulators and the OCC over fintech licensing

A leading association of state banking regulators is trying to put the U.S. national banking regulator in its place on the issue of fintech registration.

Per a Dec. 22 filing, the Conference of State Bank Supervisors, or CSBS, says the impending approval of Figure Technology’s bank charter a bridge too far. Figure operates blockchain-backed lending and investment services. It announced its application to the Office of the Comptroller of the Currency for a charter at the beginning of November. At the time, CEO Mike Cagney noted the relative convenience of a national charter, saying:”we’ll have over 200 state licenses next year without such a charter.”

The OCC, which is the Treasury office responsible for national banks, first floated the idea of special purpose bank charters for fintech firms back in 2016 under then-Comptroller Thomas Curry. State regulators including the CSBS and New York’s Department of Financial Services, or NYDFS, immediately dogpiled the proposal as operating in defiance of the definition of “bank,” as well as in overstepping the OCC’s own charter. The CSBS, for instance, resolutely refers to the OCC’s work as “the Nonbank Charter Program.”

From the perspective of the CSBS, the situation only got worse in July of 2018, when then-Comptroller Joseph Otting said the OCC was open for applications. CSBS filed another suit later that year.

The court ultimately dismissed the case on the grounds that: “CSBS continues to lack standing and its claims remain unripe.” In that decision, however, the court attributed that “unripeness” to the fact that no fintech had yet applied for a charter, much less received one.

A month later in the final judgment in the NYDFS case, a Manhattan judge found that the OCC’s statutory authority “is set aside with respect to all fintech applicants seeking a national bank charter that do not accept deposits,” dealing a blow to the OCC. 

But while the OCC has appealed the NYDFS case to the second circuit, the CSBS is using the Figure application to attack the whole program, seeking:

“Declaratory and injunctive relief declaring the OCC’s Nonbank Charter Program and the Figure Charter unlawful and enjoining the OCC from soliciting, accepting, or approving applications for Nonbank Charters, including the Figure Charter Application.”

Margaret Liu, CSBS’s senior vice president and deputy general counsel, told Cointelegraph that Figure’s particular business is not the problem. The firm is just the first fintech to get this far in the OCC’s licensing, which “made the issue more than ripe.” She continued: “The timing has to do with the fact that a company has submitted a final application. This is not about Figure.”

Central to the argument is whether a financial entity that does not hold deposits, like Figure, can be considered a bank and is thus subject to the OCC’s national jurisdiction. Back in 2018, Otting’s announcement maintained that the OCC already had the authority to charter “companies that engage in one of the core banking functions (paying checks, lending money, or taking deposits),” which did not necessarily require those banks to take deposits. This frees those banks from requirements like holding FDIC insurance and possibly oversight from the Federal Reserve Board.

The CSBS disagrees. “We’re suing for the same reason we’ve been suing all along” Margaret Liu told Cointelegraph. “Being a regulator does not mean that you get to redefine what a bank is.” Yesterday’s complaint argues: 

“It is well settled by court precedent, federal banking laws, and historical chartering practice that to lawfully commence the ‘business of banking’ under the NBA, a national bank must, at a minimum, engage in receiving deposits and apply for and obtain federal deposit insurance.”

A representative for the OCC declined to comment on the litigation. 

Back in September, the CSBS announced a new program that would simplify the registration process for national firms looking to get licenses in many states. At the time, Brooks congratulated the conference on:

“Recognizing what we have been saying for years that for national financial service businesses, it makes little sense to have a patchwork of regulation and supervision. While the efforts alleviate the inherent challenges facing a system based on 50 state laws and licensing regimes, only federal law and the uniform regulatory framework it provides fully addresses these issues.”

Clearly the CSBS and OCC have different ideas about what a uniform regulatory framework means.

Brooks, for his part, has made the OCC a beacon of crypto regulation at the federal level since joining the office from Coinbase’s legal team back in March. Though President Trump recently nominated him to become full comptroller, the appointment is still awaiting Senate confirmation. With a new Congress convening in less than a month, there is still no word on whether the Senate will see fit to schedule it. 

Title: A storm is brewing between state regulators and the OCC over fintech licensing
Sourced From: cointelegraph.com/news/a-storm-is-brewing-between-state-regulators-and-the-occ-over-fintech-licensing
Published Date: Wed, 23 Dec 2020 17:55:03 +0000

A storm is brewing between state regulators and the OCC over fintech licensing

A storm is brewing between state regulators and the OCC over fintech licensing was originally published here https://newsgrowing.wordpress.com/2020/12/24/a-storm-is-brewing-between-state-regulators-and-the-occ-over-fintech-licensing/

Russia’s State Duma expects explosion of crypto issuance in 2021

Russia’s State Duma expects explosion of crypto issuance in 2021

Russia’s State Duma expects explosion of crypto issuance in 2021

The Russian government is anticipating more cryptocurrencies to be issued in the local market in 2021, according to a senior official.

Anatoly Aksakov, a member of the Russian State Duma and a key representative of local crypto legislation efforts, said that the Duma’s Committee on Financial Markets expects Russian crypto issuance to surge after the adoption of the country’s new crypto law on Jan. 1, 2020. Passed in July 2020, the law “On Digital Financial Assets” provides legal status to crypto, but bans people from using cryptocurrencies like Bitcoin (BTC) as a payment tool.

According to a Dec. 21 report by state-run news agency Parlamentskaya Gazeta, Aksakov said that many companies are expected to issue stablecoins soon:

“A lot of big businesses have asked us to pass the law more quickly, and I know that they are going to produce stablecoins.”

Alongside forecasting a surge of crypto issuance in Russia, Aksakov also expressed optimism about the future of a digital ruble. “From my point of view, the digital ruble is one of the future forms of our ruble, and it should contribute to the development of the financial asset market,” the official said.

It appears to be unclear whether local companies would be allowed to issue ruble-pegged stablecoins, however.

As previously reported, Russian central bank officially released its plans to issue the central bank digital currency on Oct. 13, 2020, claiming that a digital ruble would serve as an additional form of money alongside cash and traditional forms of digital fiat. In early December, a senior executive at the Bank of Russia said that the bank plans to prohibit private firms from offering stablecoins backed by the country’s fiat currency. The Bank of Russia did not respond to any of Cointelegraph’s queries to comment at publishing time.

Title: Russia’s State Duma expects explosion of crypto issuance in 2021
Sourced From: cointelegraph.com/news/russia-s-state-duma-expects-explosion-of-crypto-issuance-in-2021
Published Date: Wed, 23 Dec 2020 10:59:33 +0000

Russia’s State Duma expects explosion of crypto issuance in 2021

Russia’s State Duma expects explosion of crypto issuance in 2021 was originally published here https://newsgrowing.wordpress.com/2020/12/23/russias-state-duma-expects-explosion-of-crypto-issuance-in-2021/

Space invaders: Launching crypto into orbit

Space invaders: Launching crypto into orbit

Space invaders: Launching crypto into orbit

Title: Space invaders: Launching crypto into orbit
Sourced From: cointelegraph.com/magazine/2020/12/22/moon-man-mission-to-blast-crypto-satellite-into-orbit
Published Date: Tue, 22 Dec 2020 23:14:42 +0000

Space invaders: Launching crypto into orbit

Space invaders: Launching crypto into orbit was originally published here https://newsgrowing.wordpress.com/2020/12/23/space-invaders-launching-crypto-into-orbit/

UK FCA gives crypto startups a hindering hand

UK FCA gives crypto startups a hindering hand

UK FCA gives crypto startups a hindering hand

Late last week, the United Kingdom’s Financial Conduct Authority issued temporary licenses to applicant companies looking to become licensed crypto-asset firms. However, with the publication of this list of temporarily authorized firms has come a large amount of confusion for those that applied or were thinking of applying.

The deadline for companies to have acquired this license is Jan. 10, 2021. Under the current rules, companies that have a nexus within the U.K. and have failed to obtain the license before this date will no longer be able to deal in or manage crypto assets.

In order to meet that deadline, the FCA has told companies to submit their applications on or before July 31, 2020. The expectation was that this would give companies enough time to get through the process with the FCA.

The application procedure itself was similar to other FCA application types, such as claims management firms. There were enhanced questions around software, which were made easier for companies that used pre-made software to manage their transaction monitoring and Know Your Customer arrangements. On the whole, the application process was not a complex one.

Worry set in at the beginning of December when none of the 150 firms that had made the application before the deadline had heard anything from the FCA. Gresham International submitted an estimated 10%–20% of the applications and only had a response on two of them. These responses were nothing more than a request for another copy of the business plan.

With the Jan. 10 deadline fast approaching, many began to believe that the FCA was getting ready to drop the ball.

Temporary license issues

On the morning of Dec. 16, the FCA announced it was going to issue temporary licenses to companies that had made an application. However, after inspection, it was clear that some companies that had made the application before the deadline were not featured on the temporary authorization list.

After conducting an investigation, it was later discovered that only the companies that had informed the FCA that they were already trading before Jan. 10, 2020, were given the temporary authorization. The FCA has now updated its website to reflect this information.

The problem

On one hand, this seems like a logical step. Not wanting to interrupt business continuity with firms that are already trading is very much in the spirit of how the FCA conducts business. The issue is that this creates a very big problem for startups that were operating in the U.K. after Jan. 10, 2020, and met the application deadline of July 31, 2020, but were then not placed on the temporary authorization list.

Therefore, those that started business on Jan. 11 or after and made the application on time have been left high and dry — even if they had every intention of complying with the new rules and getting the license.

This also does not help companies that are looking to establish their business now.

Little alternative

Since the publication of the temporary authorization list, numerous service providers have hounded the featured companies to convince them to get a license elsewhere. The comedy being is that these companies were the lucky ones, as they are meeting the needs of their business and their plans can continue. The new temporary license allows them to continue their business, without any more cost or regulatory worries.

Everyone is aware that other countries offer various licenses. However, the cost-effectiveness, obligations and ease of the FCA license are what attracted companies to the U.K. in the first place: to establish their presence in the financial center of the world, London.

The offshore option

Most of these companies that have been left high and dry are now looking at offshore options. The idea is that they can temporarily continue business until the license is granted, even a temporary one.

The result is a huge group of companies that has not been granted temporary authorization despite meeting the deadline, leaving them with the possibility that they have to stop business after Jan. 10 if they are based in the U.K. or looking to do a large amount of business there.

Companies that have met the deadline and find themselves in this position may have the possibility of taking action against the FCA for promoting its own deadline and then failing to meet it. Alternatively, the FCA may grant all companies that met the deadline temporary authorization before Jan. 10. It is unclear, though, which route the FCA will take or what the next steps will be.

What is clear is that a six-month push back on the time to issue full authorizations is a telling sign that the FCA is under significant strain to issue these licenses. Therefore, it is likely that companies left in the grey zone will be required to find a temporary solution until the full one is issued, such as an offshore license.

Title: UK FCA gives crypto startups a hindering hand
Sourced From: cointelegraph.com/news/uk-fca-gives-crypto-startups-a-hindering-hand
Published Date: Tue, 22 Dec 2020 18:28:23 +0000

UK FCA gives crypto startups a hindering hand

UK FCA gives crypto startups a hindering hand was originally published here https://newsgrowing.wordpress.com/2020/12/23/uk-fca-gives-crypto-startups-a-hindering-hand/

Ethereum 2.0 upgrade becomes fourth biggest proof of stake network following Eth2 deposit contract going live

Ethereum 2.0 upgrade becomes fourth biggest proof of stake network following Eth2 deposit contract going live

Ethereum 2.0 upgrade becomes fourth biggest proof of stake network following Eth2 deposit contract going live

Quick Take

1 minute read

At the start of this month, Ethereum 2.0 was finally launched with a successful reaction from the community. The upgrade has already come as the fourth biggest proof of stake network by overall value in staking in just six weeks of the Eth2 deposit contract becoming live.

At the start of this month, Ethereum 2.0 was finally launched with a successful reaction from the community. The upgrade has already become the fourth biggest proof of stake network by overall value in staking in just six weeks of the Eth2 deposit contract becoming live.

Withdrawal functionality is not yet enabled on the upgrade and there isn’t an exact launch date for this either but with nearly $1 billion worth of Ethereum being designated for staking, things are looking up for the network.

Staking Rewards, a well-known crypto data aggregator says that more than 1.5 million Ethereum has been deposited for staking purposes.

Staking rewards on Ethereum has currently been estimating around 13% meaning that a single stake of 32 Ethereum could earn over $2500 in 12 months, this is with the current price of over $600.

As previously mentioned, developers on 2.0 are yet to provide an exact date as to when users will be able to withdraw their staked Ethereum. Some have predicted that this may go live in the first quarter of next year, however.

Currently, the price of Ethereum is $652.38 following a 1.87% increase over the past 24 hours.

For more news on this and other crypto updates, keep it with CryptoDaily

© 2020 CryptoDaily All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Title: Ethereum 2.0 upgrade becomes fourth biggest proof of stake network following Eth2 deposit contract going live
Sourced From: cryptodaily.co.uk/2020/12/ethereum-20-upgrade-becomes-fourth-biggest-proof-of-stake
Published Date: Fri, 18 Dec 2020 16:00:49 +0000

Ethereum 2.0 upgrade becomes fourth biggest proof of stake network following Eth2 deposit contract going live

Ethereum 2.0 upgrade becomes fourth biggest proof of stake network following Eth2 deposit contract going live was originally published here https://newsgrowing.wordpress.com/2020/12/22/ethereum-2-0-upgrade-becomes-fourth-biggest-proof-of-stake-network-following-eth2-deposit-contract-going-live/

How PayPal is promoting crypto adoption with its new services

How PayPal is promoting crypto adoption with its new services

How PayPal is promoting crypto adoption with its new services

Quick take

1 minute read

The chief executive officer of PayPal said in 2019 that bitcoin was a scam. This year, PayPal enters the crypto markets announcing that its users will be able to buy and sell the leading cryptocurrency as well as alternative digital assets.

The chief executive officer of PayPal, Bill Harris said in 2019 that bitcoin was a scam. This year, the tables have very much turned as the payments network has been very active within the industry as PayPal enters the crypto market announcing that its users will be able to buy and sell the leading cryptocurrency as well as alternative digital assets.

It didn’t take long for this to do the rounds around the crypto industry and on the day of the announcement, PayPal stock spiked upwards as bitcoin continued its bullish behaviour.

With PayPal being so involved with the industry now, what does it mean for the future of the industry?

Will adoption increase? As PayPal is a household name at this point, it wouldn’t surprise me if bitcoin adoption increases as PayPal gets more involved with the space.

Over the next few years, enthusiasts are hoping that PayPal will further facilitate the utility and adoption of bitcoin. As a result, more and more people will be exposed to the digital asset, which can only be a good thing!

PayPal is present in more than 200 countries and has over 300 million active users on its platform so this move to adopt a bitcoin is certainly going to be an exciting one to watch.

Furthermore, with bitcoin spiking above $23,000 earlier this week, adoption is more than likely at a high right now. The #Bitcoin keyword was trending on Twitter yesterday after the leading coin spiked to a new all-time high.

It will be interesting to see how PayPal further advances its crypto services over the next 12 months or so. 

For more news on this and other crypto updates, keep it with CryptoDaily

© 2020 CryptoDaily All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Title: How PayPal is promoting crypto adoption with its new services
Sourced From: cryptodaily.co.uk/2020/12/how-paypal-is-promoting-for-the-crypto-adoption-with-its-new-services
Published Date: Fri, 18 Dec 2020 16:00:53 +0000

How PayPal is promoting crypto adoption with its new services

How PayPal is promoting crypto adoption with its new services was originally published here https://newsgrowing.wordpress.com/2020/12/22/how-paypal-is-promoting-crypto-adoption-with-its-new-services/