USDC accelerate with 5 blockchains; The BoF push her CBDC It front of stablecoins; BlackRock put on the AND F and the metaverse; Apple tax the NFT at 30%; Bykep loses his PSAN… Back to thecrypto news of the week.
The institutionalization of digital assets is developing at an increased rate, particularly in Europe. In this market, which interests players such as Grayscale and Hashdex, BlackRock takes its own position. The asset management giant thus announced the launch with european investors of a blockchain ETF. The goal: to enable its customers to engage with global companies leading the development of the emerging ecosystem of blockchain.
A first step for BlackRock, but certainly not the last. The finance firm is already planning to introduce an ETF, this time focusing on the metaverse. The spectrum is quite broad since it includes providers of “products related to virtual platforms, social media, games, digital assets or even augmented reality. »
Also, on the institutionalization side, Swift is partnering with Chainlink this week to bring together crypto-assets and traditional finance. The banks industry are already exposed to these digital assets to the tune of $9.4 billion, according to the Basel Committee. The room for improvement remains considerable.
USDC vs USDT: The Stablecoin War
The new policy of Binance is activated. Stablecoin holdings are automatically converted to BUSD. This concerns in particular theUSDC of Circle. For the issuer, this strategy should benefit him.
Enough to rekindle the rivalry between the two main stablecoins on the market. Already present on many networks, Tether thus continues the deployment of theUSDT in the crypto ecosystem and makes its debut on Polkadot. Circle is not inactive. It will soon extend support for its stablecoin to 5 new blockchains: Arbitrum, NEAR, Optimism and Polkadot by the end of the year, then Cosmos at the start of 2023.
Game over for Mashinsky at Celsius
Could the crypto lender hope to relaunch and regain credibility by keeping at its head a leader (co)responsible for the past excesses of Celsius ? Probably not. The company therefore announced the resignation of its CEO Alex Mashinsky, replaced by the current CFO, Chris Ferraro. It is the latter who will lead the restructuring.
Mashinsky does not, however, renounce any function. Claiming a chosen departure, the ex-leader declared that he would continue to help “the community to unite behind a plan which will offer the best result for all creditors”. He also says he is “truly sorry for the difficult financial circumstances” his clients are facing.
Bykep or the forfeiture of a PSAN
Registered with the AMF as PSAN for more than a year, Bykep is the first crypto player to lose this status in France. After an inspection by the ACPR, and on its recommendation, the Autorité des Marchés Financiers issued the removal of the service provider as a PSAN. The cause: serious malfunctions.
The ACPR reports transactions debited from customer wallets without their consent and culpable negligence of the AML-FT system. Bad news never comes alone, Bykep also informs the AMF of a cyberattack. The deposed PSAN admits the theft of a large part of its customers’ assets.
Apple wants its share of NFTs on the App Store
The Cupertino company and publisher of iOS has revised its non-fungible token policy. These are now accepted on theApp Store. But this opening also means the beginning of the costs for the sellers of NFT. Indeed, now, Apple takes 30% of in-app sales made by applications distributed on its online store.
Her usual 30% commission, denounced by some publishers as a tax, thus extends to NFTs. ” Now, Apple kills every NFT app company it can’t tax, crushing another fledgling technology that could rival its grotesquely overpriced in-app payment service,” one of its fiercest opponents, the boss of ‘EpicGames.
Central banks are organizing the response
The representatives of major central banks gathered this week in Paris, at the Louvre Museum. They were able to discuss the benefits of the tokenization of finance, but also its risks. Central bankers still make no secret of their hostility towards cryptocurrenciesincluding Bitcoin, criticized for their volatility.
Regarding stablecoins, their opinion is less clear-cut, even if central banks point out that the stability is not a guarantee. They also underline the need to regulate them. However, they also concede the obligation for them to innovate. The risk is real that the private currencies become benchmark settlement assets for commercial banks. In order to prevent such a scenario, the BdF therefore insists on the need for innovation, particularly in terms of wholesale CBDCs.
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