Ethereum News Daily TheBitTimes.com

Rupert Schaefer, the executive director of strategy, policy, and control at BaFin, the German financial regulatory authority, emphasized the significance of establishing a unified global regulatory framework for the cryptocurrency sector. Drawing a comparison to aviation, Schaefer likened regulators to air traffic controllers while comparing certain crypto assets and decentralized finance projects to unidentified aircraft abruptly turning up on a radar. “There should be no white spots in the flight radar: the global rules should also apply to niche financial centers,” Schaefer wrote in a Sept. 18 blog post. “Some crypto assets and decentralized finance  projects certainly resemble unidentifiable flying objects . It would be negligent to simply ignore them. As financial regulators, we are sitting in the tower. We must know their characteristics, understand them, know their route and intervene if necessary. This is the only way we can...

Trevor Power hopes the framework will fall closer on the “spectrum” to the EU’s MiCA, as opposed to the current regulatory position in the U.S. The Australian Treasury’s token mapping of digital assets will adopt a “tech agnostic ” and “principles-based” approach in order to define crypto assets, according to a Treasury official . Speaking to Cointelegraph on June 26 at the Australian Blockchain Week, Trevor Power, an Australian Treasury Assistant Secretary said the framework will be structured to easily classify tokens based on their “function” and “purpose.” “The token mapping paper spends a lot of time talking about the token, the system, the value delivered for the very purpose of trying to structure whatever regulation such that it draws on those principles so then a token can be placed within that,” Power said, adding: “It's trying to be tech agnostic. It's not trying to be token specific.” Power said “it’s fair to assume” crypto-specific legislation will appear someti...

Despite the ongoing tumultuous market conditions, VC investments in European crypto startups hit an all-time high of $5.7 billion in 2022. 2022 was a turbulent year for the crypto space, to say the least; from an ongoing bear market and crash for LUNA to the downfall of FTX one of the industry’s most prominent players. Despite the setbacks, VC investors continued to show support for crypto startups. According to a new study released by European investment firmRockawayX, VC investment in crypto startups based in Europe reached its all-time high in 2022 with $5.7 billion invested European DeFi Startups hit $1.2 billion in 2022, which is a 120% increase from the previous year’s Investments of $534 million Viktor Fischer, the CEO of RockawayX, pointed out that the crypto market is cyclical and during the 2018 winter, “the total digital asset market cap fell by 80%, but startup funding activity held steady.” “Investments made when digital asset prices were depressed materialized in tech ...