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$RED (@redstone_defi) is one of the projects I keep my eyes on. The more I research it, the more interesting I find it. I will order some on Bitget Premarket or wait for the post-listing price drop to accumulate more. #alts

So much for Pre order $MEMHASH coin. borin coin

🚨🚨How Not to Lose Money as a Trader 💫 ‼️ Check Now ‼️ When you are a trader, you are constantly in fear of losing money because the market is so volatile that you are prone to losing money. However, there are strategies to reduce your stress, no matter what kind of trading you are doing.   The first strategy is to set buy and sell order limits. What this actually means is you are giving instructions to trading bots that at what price you can buy and at what price you will be selling. This is the best approach to increase your trading profits regardless of the type of trading you are performing. The second strategy is to copy traders. You can instruct the bots to copy successful traders, by doing this you will do exactly like the successful traders, buy when they are buying and sell when they are selling. Trading is stressful because you need a lot of money to trade, and you need to put a lot of money into trading to make sizeable profits.

Hi guys!! As we predicted yesterday, when the price reached the 0.00000879 - 0.00000852 area, there was a chance it would drop to 0.00000809—and sure enough, the price plunged to that level. However, the decline was so sharp that it even broke through the nearest support at 0.00000786. Now, the price is below the order block zone, so be careful, guys—further downside risks could emerge, especially with today’s release of the Core PCE Price Index, a key U.S. inflation indicator. Stay cautious!!! #BinanceAlphaAlert #TraderProfile #MemesNotSecurity

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.