EddieJayonCrypto
5 May 22
• South Korea wants to be a hub for digital assets in a big way and is building a regulatory framework to prove it• Gucci is another luxury retailer set to accept digital assets as payment in its US stores• The European Central Bank released a presentation outlining scenarios for its CBDC• With over...
• South Korea wants to be a hub for digital assets in a big way and is building a regulatory framework to prove it• Gucci is another luxury retailer set to accept digital assets as payment in its US stores• The European Central Bank released a presentation outlining scenarios for its CBDC• With over 25% of crypto businesses in California, the state is developing a transparent regulatory framework• Chainlink, one of my favorite projects, is set to take the Latin American property market by storm• Dubai's virtual asset regulator has plans on launching a headquarters in a metaverse• Europe’s Anti-Money Laundering watchdog, MONEYVAL, says 18 of the 22 jurisdictions are not compliant with AML standardsThere are big moves happening around the world that will help to drive adoption. Here is what is on my mind today.1. South Korea wants to be a hub for digital assets in a big way. They have been watching the rest of the world and have set out to create a regulatory framework that includes ICOs. As a matter of fact, there are 110 distinct tasks the government identified to help fill out the framework. 2. Gucci is another luxury retailer set to accept digital assets as payment in its US stores. This should be implemented by the end of this month. Gucci has also created NFT projects to further the brand's reach, SuperGucci and Gucci Grail. 3. The European Central Bank released a presentation outlining scenarios for its CBDC. The subject is complex because you want to respect the public's privacy while still implementing a secure and trusted environment that takes in account anti-money laundering, know your customer, and anti-terrorist financing regulation. Publishing these scenarios is a major step. 4. With over 25% of crypto businesses being domiciled in California, the state has issued an executive order to help regulate the space while at the same time helping those businesses prosper. They are in the research process which includes meeting with the businesses, contemplating consumer impact and other factors. I am sure we will hear more about their progress as the months go on. I am actually looking at thisas a fire under the federal government's butt. A clear message that if you are not going to step up your game, we will. 5. Chainlink, one of my favorite projects, is set to take the Latin American property market by storm. LaProp has decided to leverage Chiainlink's platform to create a tokenized Dapp that will allow investors to purchase shares via tokens that have real-world value and a stake on rents collected. This is a very interesting topic to me since I have suggested the use of blockchain technologies in the real estate space. One of my ideas was toward title management in the United States. I will continue to track the development here. 6. Dubai is more than signaling that it is positioning to be a crypto hub. They have been attracting crypto businesses to move operations there for a while now. Recently WazirX relocated operations to Dubai from India. Now Dubai's virtual asset regulator has plans on launching a headquarters in a metaverse. 7. Europe’s Anti-Money Laundering and Combatting the Financing of Terrorism (AML/CFT) watchdog, MONEYVAL says 18 of the 22 jurisdictions are not compliant with AML standards. This does answer the question as to why the EU has been so much against the digital assets space: they are ill-prepared to handle new money laundering trends. Basically, resting on their laurels and not moving as fast as necessary has placed them far behind those looking to do bad things.