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🔥 FAIR³ - A Revolution in Decentralized Creativity & AI 🚀 FAIR³ ($FAIR) is redefining the digital landscape by creating a decentralized, creator-first ecosystem that ensures: ✅ Algorithm transparency – No black-box decision-making. ✅ User data ownership – No monopolization by platforms. ✅ Sustainable profitability – Empowering individuals in the AI era. 💡 Strategic Partnerships & Strong Backing 🔹 Backed by Wang Xin, former CEO of Qvod/Kuaibo. Advocate for Technological Fairness & Decentralization Champions algorithmic transparency , user sovereignty and breaking centralized monopolies , empowering individuals in the digital age. 🔹 Partnered with $ACT (Binance-listed project). 📌 Technical Analysis 📉 $FAIR recently bounced from the Fibonacci Buy Zone (0.01188), indicating a potential reversal. 🔼 Target 1: $0.03562 🔼 Target 2: $0.04451 🔼 Target 3: $0.05833 🎯 Bullish Scenario – A strong breakout above key resistance zones could lead to massive gains.

Transitions are never easy. And we’re talking about blockchains and cryptocurrency. As the new finance and operations sector transitions to blockchain technology, challenges keep rising in terms of laws and regulations. Self-executed contracts pose a big gap between traditional regulations and decentralized rules in terms of data distribution. Consequently, uncertainty in compliance with traditional law structure is often compounded by varying regulations across jurisdictions. Despite these hurdles, blockchain projects are mandated to address several common legal and regulatory considerations. This has helped this evolving technology to fight the initial skepticism and rewarded cryptocurrencies as one of the important investment tools in the modern financial world. Today, let us discuss these legal considerations that dictate the creation of cryptocurrencies. The Issues With Crypto Regulations Source FinCEN doesn’t see cryptocurrencies as real money. Nevertheless, since 2012, they have given partial recognition to cryptocurrency, deeming it to be something close to currency. This event implies that cryptocurrency can be treated like traditional money transmitters, which handle various forms of value. These money transmitters are mainly regulated by the Bank Secrecy Act (BSA). Meanwhile, the Commodities Futures Trading Commission (CFTC) views cryptocurrencies as commodities. This gives these digital assets the power to be traded on public markets. Moreover, the CFTC has stepped up regulations by acting against unregistered Bitcoin futures exchanges. It enforced rules against unfair trading practices and dealing with scams like Ponzi schemes. The CFTC believes that to properly handle digital assets, we need to focus on educating consumers. Therefore, the body emphasizes understanding the market better to enforce stricter laws and coordinate the efforts across the government. Federal Regulations In the U.S., cryptocurrencies are being closely looked at by government agencies like the SEC, CFTC, and IRS. Nevertheless, there aren’t many formal rules yet. Since 2022, Congress has put forward several bills to clarify how digital assets should be regulated. One important act that the government introduced is the Responsible Financial Innovation Act. The RFIA or Lummis-Gillibrand bill is a comprehensive legislative proposal. It aims to create a regulatory framework for digital assets in the United States by integrating digital assets into existing law while addressing risks and promoting innovation. Another important proposal is the Toomey Stablecoin Bill, officially known as the Stablecoin TRUST Act. This is a legislative proposal introduced by Senator Pat Toomey (R-PA) aimed at establishing a comprehensive regulatory framework for payment stablecoins in the United States. Moreover, the states have now started to get involved, with Wyoming leading by allowing crypto-focused banks and supporting decentralized organizations. Crypto Regulation In The EU The European Union (EU) has embraced blockchain and digital assets, similar to the U.S. In January 2020, they introduced the 5th Anti-Money Laundering Directive (5AMLD). This implies that cryptocurrency providers must follow regulations and document the identities and addresses of digital asset owners. However, tax rules for cryptocurrencies vary across EU countries. In the European Union, the taxation of cryptocurrency profits varies significantly from one country to another. While some countries such as Finland, Netherlands, Germany, Denmark, etc., impose taxes ranging from 0% to 50%, others such as Slovakia, Luxembourg, Bulgaria, Greece, Malta, etc., do not tax them at all. Also, certain countries such as France and Austria, have specific exemptions. Exchanges for cryptocurrencies aren’t regulated by the EU. Nevertheless, some may need to register with local authorities. As cryptocurrencies become more popular, it’s expected that regulations will tighten, especially when it comes to financial services, money laundering, and digital currencies. Steps To Legally Launch A Cryptocurrency How to legally launch a cryptocurrency involves crucial steps that regulatory bodies require comprehensively. Below is a basic outline to guide you. Define The Purpose And Type Of Your Cryptocurrency Source As simple as it sounds, decide what the overall goal of your cryptocurrency is (is it for payment, a utility, or a security token?). Consider the consequences that your selected type of cryptocurrency will bring, as there are different rules for different types of cryptocurrencies. Choose A Legal Structure Open a business in your region as an entity such as an LLC or a Corporation. This stage is crucial in providing protection from liabilities as well as aiding in tax and regulatory compliance. Register With Relevant Authorities In the U.S. context, registration with FinCEN as a Money Services Business (MSB) may be needed. In India, anti-money laundering (AML) registration with the Financial Intelligence Unit (FIU-IND) may be necessary as well. If the cryptocurrency is deemed a security, compliance may include registration with the SEC in the U.S. or other corresponding legal orders. Implement AML And KYC Procedures Establish money laundering prevention procedures (AML) and know your customer (KYC) policies to mitigate risks of illegal activities. Analyze reporting and tracking systems and flag any dubious transactions for the authorities. Obtain Necessary Licenses And Permits Ensure that you cover any region where your business operates and acquire appropriate permits and licenses as stipulated by local or regional authorities. If you are undertaking some activities in New York, you are required to obtain the BitLicense. Maintain Compliance With Taxes Some tax considerations may apply to your cryptocurrency holdings depending on the region where you live, such as in the US, where cryptocurrencies are regarded as a capital asset for taxation purposes. Record every transaction in detail, along with the supporting documents, to ease the tax reporting process. Develop A Legal Compliance And Risk Team Develop a team that includes legal and compliance practitioners with relevant expertise in contemporaneous cryptocurrency regulations. This will help to maintain compliance as well as respond to legal challenges, if any arise. Audit And Secure Your Blockchain Audit the blockchain code for weaknesses in order to eliminate security risks. Make sure that your cryptocurrency complies with appropriate laws and regulations. Launch And Maintain Compliance Revisit your compliance measures regularly and ensure that they align with evolving regulations. Maintain open communication lines with your stakeholders and regulatory authorities to build trust and mitigate legal risks. The post Legal Considerations When Creating A Cryptocurrency appeared first on Coinfomania.

XRP Price Prediction For March 1 As of now, XRP is continuing to trade below its key support-turned-resistance zone, which ranges between $2.25 and $2.30. This area has proven to be a crucial level for the coin’s price, and any attempts to rally higher are likely to face resistance here. If XRP does experience a short-term bounce, traders should watch for resistance within this range. Current Support Levels: XRP has found some support around the $1.95 to $2 range. This is an important zone that has been acting as a price floor for XRP in recent weeks. In fact, the price recently bounced from exactly $1.95, which has been a recurring support level. Short-Term Outlook: On the smaller timeframes, XRP has triggered an oversold signal, indicating potential short-term relief. Historically, when XRP’s RSI has been oversold, it has resulted in some bullish relief over the next 1-3 days. However, this does not guarantee a long-term reversal. Bearish Divergence and Larger Trend: Despite some short-term bounces, the broader market structure for XRP remains bearish. There is still a larger bearish divergence visible on the chart, and no signals have emerged to invalidate this trend yet. This suggests that XRP is still in a downtrend, characterized by lower highs and lower lows. Critical Support Levels: On the flip side, the $1.95-$2.00 range continues to act as a key support area for XRP. If the price were to break below this level, it would invalidate the current bullish short-term setup. The next key support to watch would be $1.77, which is an important level. Medium-Term Scenario: If XRP holds above the $1.95-$2.00 range, there is still a potential for the price to climb in the medium term. However, the outlook remains cautious as the larger trend is still down. A significant breakout would require a move above $2.36, and ultimately $2.83, to signal a true reversal. $XRP

Texas policymakers have roughly $24 billion in sovereign wealth as the State’s Senate weighed passing Bitcoin reserve legislation. The Texas Senate Committee on Business and Commerce unanimously supported a bill to invest state surplus dollars into Bitcoin (BTC) as governments mulled crypto reserve adoption. Republican Charls Schwertner, chair of the Committee, scored a landslide 10-0 vote for his proposal titled the Texas Strategic Bitcoin Reserve and Investment Act. The State’s Senate will now consider Schwertner’s following overwhelming bipartisan backing. “Today’s vote was a critical first step in making a strategic investment in Texas’ financial future,” chair Schwertner said in a statement. Lawmakers could invest from the state’s $24 billion cash reserve, if approved by the Senate. You might also like: Second Bitcoin reserve bill introduced in Georgia, now without investment limit Over 20 U.S. states raced to pass BTC reserve laws, funneling taxpayer dollars to the largest cryptocurrency market cap. White Montana’s BTC reserve bill failed to clear a House vote, Arizona, Oklahoma, and Utah inched closer to passing laws. States see BTC as a way to diversify their sovereign portfolios. President Donald Trump’s return, as the first Bitcoin president, and crypto’s mammoth spending during the general elections, no doubt helped push the needle on state-level adoption. Read more: The list of US states embracing Bitcoin reserves is growing

A Montana man has been found guilty of conspiracy to launder over $2.4 million through cryptocurrency, the U.S. Attorney’s Office for the Eastern District of Texas announced Thursday. Randall V. Rule, 73, formerly of Kalispell, Montana, was convicted on all counts following a three-day trial before U.S. District Judge Jeremy D. Kernodle on Feb. 26. He was charged alongside Gregory C. Nysewander, formerly of Irmo, South Carolina, in a 2022 federal indictment. You might also like: Uniswap Wallet adds crypto off-ramping with Transak Romance, real estate and email fraud Prosecutors said Rule and Nysewander helped convert funds from scams — including romance fraud, business email compromises, and real estate scams — into cryptocurrency, which was then transferred to accounts controlled by foreign and domestic co-conspirators. Romance scams involve fraudsters befriending victims under the pretence of a potential love interest. These scammers pretend to form personal connections to gain victims’ trust and then exploit them financially. Scammers also use fake websites to trick victims into providing personal information or sending funds. Many of these sites mimic legitimate companies but have minor differences in their URLs. To evade detection, Rule and Nysewander allegedly misrepresented transaction details and misled financial institutions and cryptocurrency exchanges. “We will aggressively pursue cases against scammers and against those who facilitate their crimes by laundering the criminal proceeds,” said Acting U.S. Attorney Abe McGlothin, Jr. The U.S. Secret Service, which investigated the case, credited the prosecution team for protecting the country’s financial system. Rule faces up to 20 years in prison for each money laundering charge and up to five years for conspiracy to violate the Bank Secrecy Act. His sentencing date will be set following an investigation. You might also like: Bitcoin price down 12% this week as fear index plummets to 2022 levels