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BIG Weekly Newsletter
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A Message To The Reader
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Welcome to the BIG weekly Newsletter!
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This week read about how SweePay and SMART VALOR brings crypto to masses at National Railways Retailers, why BIS, Bank of England complete blockchain DVP settlement test using RTGS and how Swiss Central Bank payment vision outlining focus on DLT, tokenization and instant payments.
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We offer a free consultation with access to the blockchain insights. Book your free consultation with us here.
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BIG SERVICES
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Do you need to assess, evaluate & plan your business model?
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We can develop your business strategy by providing an assessment report, a detailed concept/whitepaper, digital asset and tokenization, establishing project and corporate governance (board, c-level) and localisation services to setup in Switzerland, govern your firm, fundraising support.
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We can design your product, service and target operating model (TOM), defining functional and service level requirements, requesting for proposal, evaluate & select service provider, implementing integration, project management, testing and go-live activities.
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We can provide you with legal coordination with Lawyers, SRO, Finma, Non-Action letter, support with taxation, compliance, due diligence, risk assessment, support & tools, audit, policy framework and proof of cryptocurrency ownership, compliance workshops.
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We can support your operations by establishing a team and leading day to day production activities, engaging specialists to minimize cyber security risks or attacks, providing technical solutions and architecture design, set up and manage IT infrastructure and analyzing the codebase of blockchain platforms and applications to identify vulnerabilities and potential improvements.
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SweePay and SMART VALOR brings crypto to masses at National Railways, Retailers
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At the SBB ticket machines, users will receive their Bitcoin in a secure paper wallet when they buy the crypto.
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BIS, Bank of England complete blockchain DVP settlement test using RTGS
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DvP – called atomic settlement in the blockchain world – eliminates the risk that one party hands over the money or the asset, and the other party fails to deliver.
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Swiss Central Bank payment vision outlining focus on DLT, tokenization and instant payments
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SNB has shared its ambition to leverage technologies and processes including tokenization and DLT to establish a secure ecosystem, geared towards a cashless payments in Switzerland.
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FINANCIAL SERVICES & CENTRAL BANK DIGITAL CURRENCY (CBDC)
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Israel will develop a CBDC if the US or Europe commit to issuing
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A positive decision by the US or EU to issue a CBDC would likely encourage Israel to follow suit, as would a situation where the use of cash declined significantly.
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Russian Central Bank considering use of cryptocurrencies in international settlements
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The use of cryptocurrencies for international settlements will be part of a broader framework experiment. Russia is working on set of regulations for cryptocurrencies.
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IMF denies involvement in purported CBDC
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The International Monetary Fund is not involved with the purported CBDC named Unicoin. Unicoin does not appear to be issued by any central bank despite the DCMA’s purported involvement with governments.
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REGULATED DIGITAL ASSETS (STO, TRADING, CUSTODY, COMPLIANCE)
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Marvion launches Digital Ownership Tokens for legally enforceable tokenized asset ownership
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Those tokens are designed to provide legally enforceable ownership of tokenized assets, enabling the tokenization of real-world assets.
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The SEC defines crypto regulation: decisions on security tokens and beyond
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According to the SEC’s view, all cryptocurrencies are security tokens and should be normatively framed as such.
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Hacken grants tokenization protocol ERC3643 a 10/10 security audit score
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ERC3643 is the leading token standard for permissioned tokens, that provides a comprehensive framework for token issuers to enforce compliance and control.
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CRYPTOCURRENCIES, DeFi and NFT
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Over $250 Million in liquidations as Bitcoin, Ethereum slip
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The price drop caused a liquidations across the crypto market over the past 24 hours. Bitcoin, Ethereum, Dogecoin, and XRP accounted for over 40% of the liquidated amount, with the rest of the liquidations distributed across the entire market.
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SEC inclusion of DeFi in ‘exchange’ definition attracts pushback
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The SEC believes these systems qualify because it considers most crypto assets as securities and many DeFi protocols “likely meet the current criteria” for an exchange. SEC reopened the consultation and explicitly included DeFi and asserted the existing definition to likely cover DeFi.
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Donald Trump got back on Instagram after 2 years and the first thing he did was sell NFTs
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Former President Donald Trump has returned to Instagram to hawk non-fungible token (NFT) trading cards of himself. Trump took to the social media platform to promote his second set of digital trading cards for $99 per piece.
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RECOMMENDED INDUSTRY REPORTS AND BOOKS
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2023 State of Crypto Report:
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Introducing the State of Crypto Index
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PODCAST SERIES
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THE SWISS ROAD TO CRYPTO PODCAST
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In this podcast Didier Borel discovers people in Switzerland playing an active role in crypto and tech. He talks to entrepreneurs, tech innovators and disruptors shaping the future in this country. Switzerland has always played a key role in banking and has recognized the need to foster innovation.
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Laura Shin is a crypto/blockchain journalist and host of the Unchained and Unconfirmed podcasts. As a former senior editor of Forbes, she was the first mainstream reporter to cover crypto assets full-time. She gives an overview to all experts and novices alike on the use cases making a real impact, and their vision for the future of this innovative technology!
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Got a question? Or perhaps a suggestion? We'd love your feedback. Contact Rali Hill - content provider of this Newsletter.
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