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CFTC Votes To Create Virtual Currency Subcommittee

The Commodity Futures Trading Commission (CFTC) just voted to create a virtual currency subcommittee while at the same time calling for the industry to adopt self regulatory standards. CFTC just voted to create a subcommittee on virtual currencies before breaking for lunch. — Kyle Torpey (@kyletorpey) February 14, 2018 The @CFTC TAC unanimous voted to …

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The Commodity Futures Trading Commission (CFTC) just voted to create a virtual currency subcommittee while at the same time calling for the industry to adopt self regulatory standards.

Brian Quintenz, a Republican commissioner with the Commodity Futures Trading Commission, said the industry should consider adopting self-regulatory standards and industry-wide best practices while the government mulls its best approach in policing the new technology-driven space.

“I would like to use this opportunity right now to call on the investment community and the advocacy community around digital currencies to create some type of self-regulatory organization that can develop standards around cyber policies, data retention, record keeping, financial records obligations, insider trading, ethics, codes of conduct,” Quintenz said during an interview at the event.

You can see the entire agenda as well as a live stream of the meeting at OnlineVideoService.com.

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Blockchain

Revolut to Reportedly Launch Own Cryptocurrency Token

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According to a recent report, Revolut seeks approval from UK’s securities regulator to launch its exchange token. Should the initiative be greenlighted, it will start from Europe and other non-US-based locations.

  • Citing people familiar with the matter, CoinDesk reported earlier that Revolut – a leading fintech firm – wants to release its cryptocurrency token.
  • One of the sources indicated that users would be able to utilize the coin similarly to Wirex and Nexo. However, such a development would be possible only if the initiative received regulatory approval from the UK Financial Conduct Authority (FCA).
  • If it goes live, Revolut will focus on the European market at first and other locations outside the United States.
  • The London-based company started providing cryptocurrency services a few years back and has only increased the number of offerings. Most recently, the firm added 11 new cryptocurrencies to its platform, including Cardano, Uniswap, Yearn Finance, and Uma.
  • Although it’s not the only fintech company providing digital asset products to its clients as it’s competing with the likes of PayPal and Robinhood, the potential implications of its cryptocurrency could be considerable.
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Source: https://cryptopotato.com/revolut-to-reportedly-launch-own-cryptocurrency-token/

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Blockchain Platform QANplatform to Provide Cloud Deployments

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The Quantum-resistant blockchain platform – QAN – will launch its cloud deployment service, via which developers can reach platforms like Amazon AWS and Microsoft Azure. The new option will be available from the end of 2021.

QANplatform Vows to Cut The Deployment Time

Through a new cloud deployment feature on its network, users of the Estonian-based blockchain platform – QANplatform – would be able to extend the QAN private DLT to cloud platforms such as Amazon AWS, Google Cloud Platform, Microsoft Azure, Linode, and DigitalOcean in no longer than 5 minutes.

Per the announcement shared with CryptoPotato, QANplatform would be the first in its field to automate this function to such major platforms. As a result, DevOps engineers and developers would be capable of building quantum-resistant smart contracts, DeFi solutions, tokens, DApps, and NFTs at a reduced deployment time by 80%.

Johann Polecsak – Co-Founder and CTO of QANplatform – praised the future initiative. He said his blockchain project aims to lower the entry barrier for the developer community so it can “build Proofs-of-Concept (PoC) and Minimum Viable Products (MVP) as fast as possible to reach mass adoption.”

“QAN blockchain platform solves this issue by building integrations to existing and widely used and loved programming languages (Rust, Go), DevOps technologies (Docker, Kubernetes) and Cloud Platforms like Amazon AWS or Microsoft Azure.” – Polecsak added.

The cloud platform deployment feature would start with the QANplatform TestNet release. It would be available for developers by the end of the ongoing year as they can pre-register for it.

QAN Raised Over $2M to Build DeFi Ecosystem

In May this year, QANplatform caught the attention of the crypto community with another initiative. Back then, the blockchain project announced a fundraise of $2.1M from companies like Fairum Ventures, BlackDragon, DeltaHub Capital, and Insignius Capital. With it, QANplatform aimed to develop an ecosystem where users would be capable of building various software applications within DeFi quicker.

Max Mucko – Partner at BlackDragon – commented on the move:

“We are glad to contribute to this investment round and support QANplatform’s future growth. We see a lot of potentials not only because of the quantum-resistant cybersecurity but also for QAN’s other IPs like Proof-of-Randomness (PoR) consensus algorithm, rapid cloud platform deployment, or the upcoming multi-language smart contract development feature.”

The funding focused on three strategic areas: product development, liquidity providing on exchanges, and marketing.

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Source: https://cryptopotato.com/blockchain-platform-qanplatform-to-provide-cloud-deployments/

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Axie Infinity Records Holders ATH: 420% Year to Date Growth

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Popular non-fungible token (NFT) gaming platform Axie Infinity continues to see increased adoption from users, following exponential growth in the number of wallet addresses.

Axie Sees Surge in Address Holders

According to data provided by IntoTheBlock on Tuesday (September 28, 2021), Axie Infinity Shards (AXS) ownership is on the rise, with 17,480 address holders. This figure represents a new all-time high (ATH) and a 420% increase year-to-date (YTD). Meanwhile, this growth is indicative of the rising popularity of Axie Infinity and play-to-earn non-fungible token (NFT) gaming.

Back in July, CryptoPotato reported that the value of the AXS token skyrocketed nearly 400% within one month, leading to a market capitalization of over the $1 billion mark. Later in August, AXS was among the assets listed on the major cryptocurrency exchange Coinbase Pro, which also gave it an immediate boost.

Axis Infinity, developed by Sky Mavis and released in 2018, arguably popularised the play-to-earn trend and has recorded a number of impressive milestones in recent times. Data from DappRadar revealed that the project recorded over $2 billion in NFT sales volume, solidifying Axie’s place as the most valuable NFT collection, thereby surpassing major names such as CryptoPunks, Art Blocks, and NBA Top Shot.

The data also showed that more than 600,000 users traded Axis Infinity NFTs, resulting in 4,887,645 transactions. The project currently boasts over 1.5 million daily active users.


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According to Jeff Zirlin, co-founder of Axie Infinity, half of the platform’s users got to interact with cryptocurrency and blockchain for the first time through Axie, while 25% of them did not own a bank account.

The Growth of NFT Gaming

The NFT industry is becoming popular with celebrities, major sports leagues, and companies buying digital art in whatever form, or selling them. However, blockchain-based games are seeing a special kind of attention.

A report by DeFiPrime stated that the NFT Gaming market has a total market valuation of nearly $180 billion as of August 2021, with the value estimated to rise to $196 billion. An excerpt from the report reads:

“NFT games may have the potential to become the standard for the gaming market if it sees enough attention and popularity. Already they have made major changes to games and made it much more fun for players. From there, it could be a very major change to the way people play games and could be as major as Doom was to the market or 3D was for environments.”

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Source: https://cryptopotato.com/axie-infinity-records-holders-ath-420-year-to-date-growth/

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