Goldilocks’ Comments and Global Economic News Saturday 5-11-2024
EUROPEAN BANKING AUTHORITY MICA ANNOUNCEMENT:
“The EBA publishes final draft technical standards under the Markets in Crypto-Assets Regulation (MICA)”
Specifically, stablecoins and tokenized assets are currently in the comment stage and ready for the white papers.
A white paper is a final document ready for implementation for business owners in an industry to utilize as a reference guideline. In this case, this particular white paper is for countries around the world to use these stablecoin and asset regulations as a guideline for creating a standardized stablecoins and digital assets they can use Globally.
Remember, Stablecoins and Market assets are a digital representation of a country’s currency and the assets they pay for going forward. The standardization process of our Global currencies is currently in their final phases. EBA Europa CorporateFinanceInstitute
© Goldilocks
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“On May 7, 2024, the European Banking Authority (EBA) published three final drafts of technical standards developed under Regulation (EU) 2023/1114 on crypto-assets, the so-called Market in Crypto-Assets Regulation (MICA), published in the Official Journal of the European Union on June 9, 2023.
With reference to the timeline for applicability of the MICA Regulation, it will be applicable in its entirety from December 30, 2024; however, the requirements set for asset-referenced tokens and e-money tokens will be applicable starting from June 30, 2024.”
I know some of you look for dates and rates only, so I’m going to make the above articles more specific to those looking for important dates.
On June 30th, the digital markets and the e-money used to pay for those assets through the banking system are to be done by June 30th, 2024. PwC TLS
© Goldilocks
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MICA activating new laws on June 30th, 2024 regarding our digital assets and stablecoins will begin the process of institutional money being moved across borders.
This will begin the process of putting price pressures on foreign currency exchange rates going forward. This does not mean we’ll see those changes right away, but we will begin seeing movements of money in ways we have not seen before.
Credit valuation adjustments will be happening across the board throughout the second half of this year. Some assets will go up and others will go down. In the end all assets will be in process of finding their equilibrium inside the new digital economy.
© Goldilocks
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5 Major Banks Closing Many Locations in Idaho and Washington State | LiteOnline
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Treasury and IRS Release Final Regulations on Credit Transferability | JD Supra
On April 25, 2024, the U.S. Department of the Treasury (Treasury) and the Internal Revenue Service (IRS) issued final regulations (the Final Regulations) regarding the election to transfer energy tax credits under Section 6418 of the Internal Revenue Code of 1986, as amended (the Code), pursuant to changes authorized by the Inflation Reduction Act of 2022 (IRA). The Final Regulations update the initial proposed regulations issued on June 14, 2023 (the Proposed Regulations), discussed by Wilson Sonsini, relating to the transfer of eligible credits.
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JPMorgan Chase Implements Quantum-Secured Network | IOT World Today
JPMorgan Chase researchers have successfully implemented a high-speed, quantum-secured crypto-agile network (Q-CAN), connecting two data centers over existing fiber optic cables.
The demonstration was conducted in an air-gapped environment over 29 miles of deployed telecom fiber across Singapore and achieved 45 days of continuous operation.
Quantum-safe communication is an increasingly pressing issue as large-scale quantum computers could break the cryptography used to secure transmissions.
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This Week in AI: Digital Agents, Quantum AI and Spy Chatbots | Pymnts
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Banking Giant Wells Fargo Holds Spot Bitcoin ETF on Behalf of Clients, According To New SEC Filing – The Daily Hodl
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Senate Urged to Swiftly Overturn SEC’s ‘Misguided’ Crypto Rules – Regulation | Bitcoin News
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US Elections: Stand With Crypto forms committee to support pro-crypto candidates | FinExtra
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🚨*Ripple CEO Brad Garlinghouse Warns About A Blackswan Coming*🚨 | Twitter
He Discusses How The US Government Is Coming After Tether.
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