Selected articles of the week:
Blockchain technology is one of the innovations with a disruptive potential to reshape our digital everyday life and quite a few business areas. After all the Internet giants that emerged around the Web2 were formed in the States, the EU does not want to be left behind in the development of the Web3 by laying a foundation for innovation with a comprehensive legal framework. In the United States, some groundbreaking regulations have already been introduced and President Biden made a strong case for comprehensive regulation of digital assets with an “Executive Order” issued in March. With the introduction of the “Markets in Crypto-Assets” (MiCA) proposal, a comprehensive regulatory framework could bring the legal certainty that european industry representatives have been craving for for a long time. Although effective implementation is not expected until 2024, the proposal takes a big leap forward with its adoption by the European Council.
The first comprehensive EU regulatory framework for cryptocurrencies (Markets in Crypto-Assets, MiCA) has had two…
Switzerland is not standing in the way of the global digitization trend. Thanks to early regulation in the blockchain sector, the country established itself as an interesting jurisdiction for companies from the field. This reputation was reaffirmed at this year’s Swiss Digital Days. Using an AI-based art generator, the event’s approximately 10,000 visitors were invited to become part of the world’s largest collaborative work of art. The image will be auctioned off as an NFT and added to the Swiss Post’s next crypto-stamp series.
As part of the Swiss Digital Days, a world record attempt of the world’s largest collaboratively created artwork is being created.
The Italian-speaking part of Switzerland is also establishing itself in the industry. A few months ago, the city of Lugano announced a collaboration with leading stablecoin issuer Tether to promote Bitcoin adoption. A investment fund of 100 million Swiss francs is to ensure that local companies are incentivized to expand into the area. The initiative seems to be bearing fruit already. This week, the cryptocurrency wallet could be used for payment in Lugano McDonald’s branches for the first time.
As part of the “Plan B” economic development program, McDonald’s stores in Lugano accept payments in Bitcoin and other cryptocurrencies.
Maker DAO’s $DAI stablecoin, which is pegged to the dollar, is the largest decentralized managed stablecoin, with nearly 7 billion tokens outstanding. The model of over-collateralization has proven itself over time. A vote within the organization is now taking a step in the direction back to the traditional financial world. $500 million in reserve funds shall be invested in high-quality US government and corporate bonds. The Swiss crypto specialist Sygnum was commissioned with the mandate.
MakerDAO, the protocol behind the leading over-collateralized stablecoin DAI, is looking to diversify its balance…
In addition: BlackRock, the world’s largest asset manager, has launched a blockchain ETF in Europe, similar to its US counterpart. The iShares Blockchain Technology UCITS ETF enables European customers to take sector exposure through leading industry players such as Coinbase, Galaxy Digital, and Marathon Digital.
The world’s largest asset manager, BlackRock, is launching a blockchain ETF in Europe providing exposure to several firms in the industry.
