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Mark Jurgens
April 27, 2022
The EU is falling behind the US and China in technological innovation as it continues to focus on regulation instead of giving startups and builders a fertile environment.
Balancing Innovation & Regulation
An executive board member of the European Central Bank (ECB) illustrated how the EU wants to become the regulatory leader of cryptocurrencies.
The Italian economist – Fabio Panetta – held a speech on April 25 at Columbia University, calling for globally coordinated efforts to regulate crypto. Panetta took the opportunity to criticize many aspects of crypto: how transfers can take hours to process, the price volatility, how transactions are not anonymous and leave a trail, how they are used for tax evasion and to circumvent sanctions, and how they can cause massive pollution. While the criticism list grows further, the ECB believes in an all-encompassing solution. Regulation could turn the Wild West back into the promised land.
“Crypto-assets are bringing about instability and insecurity – the exact opposite of what they promised. They are creating a new Wild West,” said the board member. “At present they derive their value mainly from greed, they rely on the greed of others and the hope that the scheme continues unhindered. We need to make coordinated efforts at the global level to bring crypto-assets into the regulatory purview.”
Some of the criticism is valid and already being addressed by developers across different chains. For example, cryptos can sacrifice decentralization for speed and use more energy-efficient consensus algorithms (or use greener energy sources, for that matter). But the constant focus on regulation instead of innovation seems a bit off.
6529, a well-regarded crypto influencer and builder of Open Metaverse, wrote an interesting Twitter thread about how the EU should stop resting on its laurels and encourage its citizens to take more innovation risks:
“The EU's overly conservative position on Web 3 is a subset of its overly conservative position on all tech. The EU is the only other economy in the weight class of the United States and the only economic superpower that also believes deeply in constitutional democracy. It is important that the EU comes along for Web 3 and for a rights-based approach to digital architecture.”
The EU economist argued that regulation can’t stifle innovation as cryptos don’t generate value for the payment system in the first place. He then describes how it fails as a medium of exchange, store of value, and unit of account. The age-old discussion that divides crypto believers from those who have their reservations. The overzealous criticism makes one wonder if the regulatory actions the EU proposes will do much else than stifle innovation.
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This is a paid Ask Me Anything (AMA), BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement AMA for $2000 Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the AMA.
Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2000. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2000. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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June 25, 2022
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Binance NFT Celebrates First Anniversary with Exciting Activities
The industry-leading NFT marketplace celebrated its first anniversary by incentivizing users. Additionally, the protocol plans to launch innovation to ensure users unleash their creativity in the NFT space.
Binance NFT Turns One
Popular Non-fungible Token (NFT) marketplace on BNB Chain, Binance NFT, celebrated its first year in the industry with numerous activities to incentivize its large community.
The industry-leading marketplace introduced three activities to celebrate the milestone, including a chance for users to win Special Edition First Anniversary NFTs and enjoy 24 hours of Zero-fee NFT trading. The protocol shared the event on June 22 through its official blog.
The top activity, zero-fee NFT trading, commenced on June 24 and lasted 24 hours. The other two activities ended on June 23, as users completed two different tasks to win the special NFTs. This unique collection was given to one thousand users who met the criteria outlined in Binance's blog post.
Open Minting Feature for NFTs
The NFT platform seeks to continue improving its service for users, following the huge success in the past year. One of its plans to improve its ecosystem is by introducing an “Open Minting Feature” to empower every user to unleash their creativity on Binance NFT. The protocol documented the innovation through a thread on June 24.
BSC News will follow the platform’s progress in the industry as it looks to provide a seamless environment for NFT enthusiasts to showcase their designs through its upcoming innovation.
What is Binance NFT:
Binance NFT is the exchange’s NFT arm consists of a marketplace, a platform for initial game offering (IGO), and mystery NFT boxes in the Binance Smart Chain (BSC) ecosystem. The top 10 collections on the platform have witnessed more than $80 million in all-time trade volumes, as per data from Binance. There have been more than 44,000 items sold from these collections on the marketplace.
Find more about Binance NFT here:
Website | Twitter | Blog | Instagram | Telegram
Check out the Web3Wire Linktree to keep up with all relevant Web3 and Crypto!
June 25, 2022
FEG Token Brings June Updates as SmartDeFi 2.0 Approaches
FEG token brings multiple updates that include a website overhaul, logo change, and a new roadmap section.
Major Updates
The FEG Token team released updates for June, including a website overhaul, logo change, and a new roadmap section.
The protocol publicized the new changes through a Twitter thread on June 17. Here are the updates:
- The team revealed that they are working on a RoadMap for release to the community that will show expected time frames and goals.
- The FEG token official site will be undergoing maintenance as they update the official site to reflect updates to the project.
- The FEG team is currently conducting professional creativity exercises and taking community input for Name and Logo changes before voting. In addition, the Design Team is working on a number of Logo options that will be shared when further into the process.
- The team is working on a swap tool for the tracking tokens from staking rewards, and more information will be released on this once completed (built and testing currently).
- Token holders can use beta.FEGex.com to see the prices & charts of $FEG, which are being pulled from major exchanges such as Uniswap (ETH) & PancakeSwap (BSC).
Further, as an added precaution, the team advised that the token migration has NOT begun and advised the public NOT to fall for fake token Migration apps, TG groups, websites, etc.
BSC News reached out to the FEG token team to learn more about the recent updates, but we didn’t get a reply.
What is Feed Every Gorilla(FEG):
FEG explains the main idea behind its token is to provide a decentralized transaction network that operates on the Ethereum blockchain and the BNB Chain. A hyper-deflationary token, FEG has a maximum circulating supply of 100 quadrillions on both the aforementioned chains, including an inaccessible burn wallet. A 2% transaction tax is distributed among all holders based on the percentage of ownership, including the burn wallet, which acts as a holder that collects tokens over a period in which transactions occur. The team is keen to stress that there is no burn limit, and with this being the case, users will enjoy a ‘never-ending cycle of passive income with positive price pressure.’
Where to Find FEG:
Website | Twitter | Telegram |
Check out the Web3Wire Linktree to keep up with all relevant Web3 and Crypto!
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Looking for a job in crypto? Check out the CryptoJobsNow listings!
Classic EU: ECB Wants to Regulate Cryptos
The EU is falling behind the US and China in technological innovation as it continues to focus on regulation instead of giving startups and builders a fertile environment.
Balancing Innovation & Regulation
An executive board member of the European Central Bank (ECB) illustrated how the EU wants to become the regulatory leader of cryptocurrencies.
The Italian economist – Fabio Panetta – held a speech on April 25 at Columbia University, calling for globally coordinated efforts to regulate crypto. Panetta took the opportunity to criticize many aspects of crypto: how transfers can take hours to process, the price volatility, how transactions are not anonymous and leave a trail, how they are used for tax evasion and to circumvent sanctions, and how they can cause massive pollution. While the criticism list grows further, the ECB believes in an all-encompassing solution. Regulation could turn the Wild West back into the promised land.
“Crypto-assets are bringing about instability and insecurity – the exact opposite of what they promised. They are creating a new Wild West,” said the board member. “At present they derive their value mainly from greed, they rely on the greed of others and the hope that the scheme continues unhindered. We need to make coordinated efforts at the global level to bring crypto-assets into the regulatory purview.”
Some of the criticism is valid and already being addressed by developers across different chains. For example, cryptos can sacrifice decentralization for speed and use more energy-efficient consensus algorithms (or use greener energy sources, for that matter). But the constant focus on regulation instead of innovation seems a bit off.
6529, a well-regarded crypto influencer and builder of Open Metaverse, wrote an interesting Twitter thread about how the EU should stop resting on its laurels and encourage its citizens to take more innovation risks:
“The EU's overly conservative position on Web 3 is a subset of its overly conservative position on all tech. The EU is the only other economy in the weight class of the United States and the only economic superpower that also believes deeply in constitutional democracy. It is important that the EU comes along for Web 3 and for a rights-based approach to digital architecture.”
The EU economist argued that regulation can’t stifle innovation as cryptos don’t generate value for the payment system in the first place. He then describes how it fails as a medium of exchange, store of value, and unit of account. The age-old discussion that divides crypto believers from those who have their reservations. The overzealous criticism makes one wonder if the regulatory actions the EU proposes will do much else than stifle innovation.
Follow us on Twitter and Instagram!
For those looking for tools and strategies regarding safety and crypto education, be sure to check out the Tutorials, Cryptonomics Explainers, and Trading Tool Kits from BSC News.
Check out the Web3Wire Linktree to keep up with all relevant Web3 and Crypto!
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