• Internal documents from the Australian Treasury Department have revealed that the implementation of cryptocurrency legislation in Australia may be delayed until late 2024.
• The delay has caused much frustration to crypto-related businesses and consumer groups.
• Despite this, demand for cryptocurrencies has decreased significantly in Australia, giving the government more time to hash out the details of regulations.
Crypto Regulations in Australia Could Be Delayed Until Late 2024
Internal documents from the Australian Treasury Department obtained by The Australian Financial Review (AFR) indicate that cryptocurrency legislation in Australia may be delayed well past 2024. According to Cointelegraph, the documents reveal that the government wants to release consultation papers in Q2 of 2023 and will host stakeholder roundtables on crypto licensing and custody in Q3. Submissions to cabinet are not expected until later in the year.
Frustration From Crypto-Related Businesses
The delay in implementing a licensing regime has caused much frustration to crypto-related businesses and consumer groups. A brief from Australian Treasurer Jim Chalmers, as seen by AFR, says: Treasury expects some stakeholders to be disappointed with the perceived delay in implementing a licensing regime. The brief adds: For example, consumer groups seeking immediate protection and businesses seeking regulatory legitimacy.
Decreased Demand for Cryptocurrencies
Despite the frustration from industry players, Treasury argues that in the wake of the collapse of FTX, the demand for cryptocurrencies has decreased significantly, which affords it more time to hash out the details of regulations: Treasury considers these concerns are somewhat mitigated by the current market conditions resulting in less consumer demand for crypto assets; and the need to complete the token mapping exercise to provide clarity on how any new licensing framework would operate in practice.
DIY Pension Funds Face Losses
The lack of regulation in Australia has also led to some problems with do-it-yourself pension funds. A recent report by Reuters revealed that thousands of Aussies who used DIY pension funds, or superannuation funds, who bet on crypto face millions of dollars in losses.
Australians Bullish on Crypto
Despite delays around regulation implementation Australians remain bullish about cryptocurrency investments as per Annual Australian Crypto Survey for 2022 where 26% said they plan on buying cryptocurrencies over next 12 months however 44% still believe sector is not sufficiently regulated hence hesitated taking plunge into investing cryptos
• Unity, a world-leading 3D content creator, has included 13 top Web3 crypto gaming companies in its Verified Solutions Program (VSP).
• The crypto industry is growing quickly and Unity is well-positioned for huge growth in gaming.
• Altura provides infrastructure for Web3 and is excited to join Unity’s VSP Program.
Unity Includes 13 Top Crypto Gaming Companies
World-leading 3D content creator Unity has included 13 top Web3 crypto gaming companies in its Verified Solutions Program (VSP). These companies represent the newest and fastest-growing asset class in the world. With the talent, entrepreneurialism, and resources behind this sector, niches such as gaming, DeFi, and metaverse are likely to become increasingly popular.
Unity’s Position In The Gaming Industry
Unity is a behemoth of a company at the top of the gaming industry. It boasts 3.9 billion monthly active users and 5 billion game downloads have been made since 2021 began. The number of Unity creators increased by 31% last year with people still playing games 50% more than before the pandemic peak 18 months ago.
The Verified Solutions Program
The 13 Web3 gaming companies that Unity has chosen to enter its VSP Program are: Aikon ORE ID, Algorand, Altura, Aptos Labs, Dapper Labs, Immutable X, Infura, Metamask Nefta Quarters Solana Tezos Truffle. This program consists of an ecosystem of trusted third-party SDKs plug-ins editor applications that are closely aligned with Unity to ensure its latest releases are verified for productivity performance and usability .
Altura Provides Infrastructure For Web3
Altura was one of these chosen projects due to its platform providing everything needed to build scale and monetise Web3 gaming. Game developers can use Altura API and SDKs to build on any blockchain . Majd Hailat founder of Altura said: “We are thrilled to team up with Unity and join their Verified Solutions program” adding his company wants “to make this technology more accessible to both players and developers”
Conclusion
Crypto gaming is the new frontier with big potential for growth within the industry especially given platforms like Unity that are investing in it . This collaboration between these two organizations will bring considerable benefits not only in terms of decentralization but also accessibilty making it easier for players developers alike to engage with crypto games
• ChainwireMassive Gaming, NEOWIZ’s overseas affiliate, will launch the global social casino slot game House of Slots in March 2023.
• House of Slots will offer over 80 different social casino slot machine games and provide users with a realistic and fair gaming experience.
• Through the Web3-based Play and Earn system, users will be able to unlock rewards in the game’s decentralized economy and receive USDC as a reward.
Global Social Casino Slot Game Launching in March 2023
ChainwireMassive Gaming, NEOWIZ’s overseas affiliate, is launching the global social casino slot game House of Slots in March 2023. This game is introduced as the world’s first stable blockchain technology-based social casino game intended to provide users with an opportunity to experience the Play and Earn ecosystem before launch.
Features of House of Slots
House of Slots will offer over 80 different social casino slot machine games and provide users with a realistic and fair gaming experience. Through the Web3-based Play and Earn system, users will be able to unlock rewards in the game’s decentralized economy which gives them more value in the game. To this end, IntellaX ecosystem developed by NEOWIZ (in partnership with Polygon) is being serviced globally. Furthermore, token airdrops & NFT free minting events are scheduled before & after launch.
How to Participate?
To participate in each event, users must install an IntellaX wallet (which can be done through login registration or linking their email). Moreover, there are additional benefits through mission play & NFT holders get more valuable rewards after opening.
Stable USDC Coin
The most notable aspect of this project is adoption of stable USDC coin which is fixed to USD value; allowing global players to earn real money while playing various slots games for free!
Communities
While slots may be a solitary game we have built up a community around it on Discord, Twitter & Telegram; sharing information about upcoming events & offering support for players!
• The crypto market is experiencing periods of volatility, with bitcoin and the altcoins moving between highs and lows.
• The U.S. SEC’s recent actions have created a sea of uncertainty in the crypto markets.
• Tuesday’s U.S. CPI data could be decisive in determining the next move for bitcoin and altcoins, with higher inflation driving prices down and lower inflation driving them up.
Volatile Crypto Market
The current crypto market is characterized by violent ups and downs, creating an unpredictable atmosphere for investors. Bitcoin and altcoins are seeking to build a base for the next bull market, but it is difficult to judge which way prices will go as a result of the uncertain regulatory environment created by the U.S. SEC’s recent actions.
SEC Regulation
The U.S. SEC has been actively trying to dampen enthusiasm in the crypto space by shutting down staking on Kraken exchange, among other steps taken against cryptocurrency investments in general.. This has caused considerable doubt as to whether or not prices will keep rising or if they’ll start going back down again soon due to external pressure from regulatory bodies like the SEC itself.
• The crypto recovery is still active, with most alts in the green today and AI projects performing particularly well.
• AI tokens like SingularityAI ($AGIX), Fetch.AI ($FET), Ocean ($OCEAN) and The Graph ($GRT) have all seen massive growth since the beginning of 2021.
• Artificial Liquid Intelligence ($ALI) has also made significant gains since its launch in early 2022.
The Crypto Recovery
The crypto recovery is continuing strongly with most alts enjoying considerable gains today.
AI Projects on the Rise
Artificial intelligence (AI) projects are leading the charge when it comes to crypto performance, boasting huge returns since the beginning of 2021. Tokens such as SingularityNet ($AGIX), Fetch.AI ($FET), Ocean ($OCEAN) and The Graph ($GRT) have all seen massive growth in value this year.
Artificial Liquid Intelligence
Another AI-focused token, Artificial Liquid Intelligence (ALI), has also been making considerable gains since its launch earlier this year, climbing as much as 1730% against the US Dollar so far.
A Positive Outlook
With several major indices meeting resistance at key levels recently, investors may be feeling positive about their altcoin investments once again. This could lead to further gains for many of these tokens going forward, allowing them to reach or even surpass their all-time highs in the near future.
Disclaimer
This article is for informational purposes only and should not be taken as financial or legal advice
• DekaBank, a 105-year-old bank managing over $428 billion in assets, has signed a deal with Metaco to begin offering digital assets to institutions.
• DekaBank will leverage Metaco’s Harmonize, a “custody and orchestration” platform, to manage all its digital asset operations.
• Metaco’s Harmonize allows launching „complex banking value propositions around digital assets, such as custody of cryptocurrencies and digital securities, underpinned by institutional-grade security and compliance standards.”
DekaBank, one of the world’s oldest and most successful banking institutions, recently announced a partnership with Metaco, a Swiss-based firm specializing in digital assets, to offer digital assets to its institutional clients. This agreement follows a rigorous selection process and thorough proof-of-concept by DekaBank and will enable the bank to use Metaco’s Harmonize platform, a “custody and orchestration” platform, to manage its digital asset operations.
DekaBank’s partnership with Metaco is a major endorsement for the crypto industry, as it allows the bank to expand its range of products and services to include crypto services for institutions such as pension funds. This is of particular importance, as these institutions are often held to stricter regulatory requirements, which may limit their direct exposure to cryptocurrencies such as Bitcoin.
Metaco’s Harmonize platform was developed and launched in partnership with top-tier global banks and allows for the launching of “complex banking value propositions around digital assets, such as custody of cryptocurrencies and digital securities, underpinned by institutional-grade security and compliance standards.” As a result, DekaBank joins other banks such as Citibank and Societe Generale in relying on Metaco’s services, which is a testament to the quality of the platform and the trust that it has earned from the banking industry.
The partnership between DekaBank and Metaco is sure to have a major impact on the crypto industry and is a significant step towards the mainstream acceptance of digital assets. With the bank managing over $428 billion in assets, this deal represents a major endorsement of the industry and could lead to more institutions entering the digital asset space. As the industry continues to mature, it is likely that more traditional banks will follow in DekaBank’s footsteps and begin offering digital asset services to their clients.
• Bitcoin (BTC) has recently slowed in price action, with investors relying on previously recovered support areas to continue its uptrend.
• Despite the slowdown, some indicators suggest that a significant upside is on the horizon, along with a new bull run as investors return to the crypto market.
• Exchange Traded Funds (ETFs) have seen a sharp increase in their holdings, with three different ETFs having added over 1,465 Bitcoins this month.
The cryptocurrency market has been experiencing a slowdown in Bitcoin’s price action lately, but despite this, some indicators suggest that it may be on the verge of a significant upside. This trend is fueled by both retail and wealthy investors, with the number of addresses holding Bitcoin having grown significantly over the past month. Exchange Traded Funds (ETFs) have also seen a sharp increase in their holdings, with three different ETFs having added over 1,465 Bitcoins this month.
This influx of investment has been bolstered by a change in the market sentiment since the beginning of 2023, despite crises like the bankruptcy of FTX, Three Arrows Capital, and the recent feud between Gemini and Genesis. With investors being optimistic about the crypto market once again, many are expecting that Bitcoin will break into new levels and reach yearly highs, with some predicting that a new bull run may result.
In order to capitalize on this potential uptrend, investors are relying on previously recovered support areas in order to continue the uptrend and outstanding performance since the beginning of the year. This includes focusing on areas such as the $50,500 to $51,000 zone, which is seen as a critical support level as Bitcoin is trading above this range.
Overall, the cryptocurrency market appears to be gearing up for a significant upside in Bitcoin, with many investors being confident that it will reach new heights. With the influx of investment and the changing market sentiment, Bitcoin may very well be on the verge of a new bull run, making this an exciting time for investors and crypto enthusiasts alike.
– The global cryptocurrency market cap stands at $1.05 trillion, representing a 0.19% increase in the last day.
– Chiliz’s price is gaining today, reflecting the positive moves of the general market. CHZ’s trading volume has also increased by 82.02% in 24 hours, showing rising interest among investors.
– CHZ acts as a fan token and has always been a community-driven project that relies on voting power from members.
The cryptocurrency market has been on a tear over the past few months, with the market cap now standing at $1.05 trillion. This represents a 0.19% increase in the last day, with many altcoins posting incredible gains. One such coin is Chiliz (CHZ), which has seen its price surge by almost 6% over the past 24 hours, outperforming Bitcoin which only saw a 0.02% increase in the same period.
CHZ is a fan token, and has always been a community-driven project that relies on voting power from members. The Chiliz project has many lucrative partnerships with soccer giants such as Juventus, Manchester City, FC Barcelona, and Paris Saint-Germain, allowing their supporters to purchase limited edition fan tokens using the platform’s native token CHZ. These fan tokens are offered in limited supply to preserve their scarcity and uniqueness.
In addition, CHZ’s trading volume has also increased by 82.02% over the past 24 hours, reflecting the rising interest among investors. This price increase could be indicative of a larger bull run in the coming weeks, with some experts predicting that 2023 could be a very bullish year for the crypto market.
Overall, Chiliz is an asset that is worth keeping an eye on, thanks to its unique proposition and increasing popularity. With the market cap increasing and the price of CHZ on the rise, it could be a good time to invest in this asset.
• Ethereum has been gaining ground since the start of the year and is currently trading at $1,588.
• The Shanghai network upgrade will add new features to the Ethereum platform.
• Vitalik Buterin recently shared his vision of the Ethereum ecosystem in the year 2032, which includes the ability to run nodes on a phone and making it the most decentralized DeFi platform.
Ethereum has been making significant headway in the crypto market since the start of the year. The leading altcoin has seen its market value skyrocket to $1,588 – a 20% increase in the past week, with the biggest gains being recorded at the monthly time frame at 32%.
The surge in Ethereum’s value can be attributed to several factors. Firstly, news of the Shanghai network upgrade has generated buzz in the market. The upgrade, according to the Ethereum Foundation, will add new features on the platform and make it more user friendly.
In addition to this, Ethereum’s founder and inventor Vitalik Buterin recently shared his vision of the Ethereum ecosystem in the year 2032. The ambitious plan includes the ability to run nodes on a phone which would make the Ethereum platform the most decentralized DeFi platform in the world.
These developments have helped Ethereum to regain lost ground from the bear market and have given hope to Ethereum bulls that the coin might even hit the $2k mark in the near future. With such an encouraging outlook, it is likely that Ethereum will continue to flourish in the crypto market.
• Bitcoin price extended its increase and traded towards $17,500.
• BTC is consolidating gains and might aim a move towards the $18,000 resistance.
• Bitcoin is trading above $17,200 and the 100 hourly simple moving average.
The cryptocurrency market has been experiencing a period of growth over the past few weeks, with Bitcoin leading the way. Bitcoin price has been steadily rising since the beginning of October, breaking through a number of key technical levels as it extended its gains.
On November 19th, Bitcoin price extended its increase and traded towards $17,500. This marked the highest level seen since mid-January 2018, when Bitcoin was trading near an all-time high of $19,500. The latest surge in Bitcoin price was mainly driven by an influx of institutional investors and the increasing popularity of decentralized finance (DeFi).
BTC is now consolidating gains and might aim a move towards the $18,000 resistance. At the time of writing, Bitcoin is trading above $17,200 and the 100 hourly simple moving average. On the hourly chart of the BTC/USD pair, there is a major bullish trend line forming with support near $17,350. The pair could continue to move up towards the $18,000 resistance zone.
If Bitcoin is able to break through the $18,000 resistance, it could open the door for further gains. The next major resistance level could be $18,500, which is the all-time high of January 2018. Breaking through this level could lead to a rally towards the $19,200 mark.
On the downside, the $17,000 pivot zone is the key level to watch. If Bitcoin is unable to remain above this level, it could see a deeper decline back towards the $16,000 mark. The $15,000 region is also a key support level, which could provide some support to Bitcoin price should it decline.
Overall, Bitcoin price is looking bullish with a potential move towards the $18,000 resistance zone. If Bitcoin is able to break through this level, it could open the door for further gains. On the other hand, if Bitcoin is unable to remain above the $17,000 pivot zone, it could see a deeper decline back towards the $16,000 mark.
