Kategorie: Crypto Markets

• The European Banking Authority (EBA) published the draft rules on complaints handling procedures for issuers of Assets Referenced Tokens (ART) on March 13.
• EBA collaborated with the European Securities and Markets Authority (ESMA) to draft the regulatory technical standards (RTS).
• These regulatory standards are part of MiCA provisions on stablecoins.

The European Banking Authority (EBA) has published draft rules outlining the regulatory standards applicable to stablecoin issuers in relation to consumer complaints.

EBA worked on the draft regulatory technical standards (RTS) in collaboration with the European Securities and Markets Authority (ESMA).

“In order to avoid diverging complaints handling procedures among issuers of asset referenced tokens and third-party entities, complainants should be able to file their complaints using a harmonised template valid for complaints handling procedures with issuers of asset-referenced tokens irrespective of where the issuer is established or where the token was distributed,” the EBA draft reads.

RTS will help ensure that the EU has “effective and transparent procedures for the prompt, fair and consistent handling of complaints.” It’s also for a level playing field in terms of handling the complaints across the EU.

MiCA provisions

The regulatory standards are part of the mandate for the European Banking Authority (EBA) as stated in Regulation (EU) 2023/1114 of the EU’s Markets in Crypto-Assets (MiCA) law.

MiCA became effective in the EU on June 29, 2023. One of its provisions was for EBA to draft rules related to Asset-Referenced Tokens, or stablecoins pegged to more than one fiat currency or cryptocurrencies.

EBA said in a press release published on Wednesday that a public consultation on the draft RTS happened between July 12 and October 12, 2023.

The draft standards will now go to the European Commission, the European Parliament and finally the European Council before their publication in the Official Journal of the European Union.

MiCA provisions on ART will apply from June 30, 2024.

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• Thailand cabinet approves tax exemption for crypto earnings, according to local media outlet Bangkok Post.
• New measures take effect on January 1, 2024.
• Thai government expects to raise 18.5 billion baht from token investment fundraising. 

Thailand has approved a tax exemption targeted at crypto holders as the country looks to promote fundraising through investment tokens.

Local news outlet Bangkok Post reported on this earlier today, March 13, 2024.

Thai’s new crypto tax measures

Specifically, the Thai cabinet approved the new tax measures aimed at crypto earnings on Tuesday, March 12, 2024. 

With the nod, earnings from crypto tokens held as investment tokens do not have to be included in the calculation of an individual’s personal income tax. Such individuals who already have the 15% withholding tax added can exclude the crypto earnings from this income tax calculation.

According to Kulaya Tantitemit, Thailand’s revenue authority, the tax measures are effective January 1, 2024.

The tax breaks are also targeted at token issuers. Already, measures announced last week had provided a corporate income tax and value-added tax (VAT) waiver for issuers of investment tokens. Those measures combined with the latest cabinet nod will help push the country to the forefront as a global hub for investment fundraising, authorities said.

Thailand expects about 18.5 billion baht (about $519 million) in token investments over the next nine months, the Thai Securities and Exchange Commission (SEC) said.

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• KangaMoon (KANG) is a new meme coin focused on utility via SocialFi and Play-to-Earn (P2E) gaming.
• Top meme coins, including Dogecoin, Shiba Inu and Bonk eye upside as Bitcoin (BTC) price spikes to above $73k.
• KangaMoon, which has raised over $1 million, offers a chance for its community to earn more $KANG as the presale continues.

Meme coins have seen a slight dip in their market cap over the past 24 hours, with about 4% dip to $61.8 billion. Meanwhile, Shiba Inu and Bonk have seen significant dips this past week.

Despite this, the crypto segment remains one of the top trending as investors hunt for new gems. KangaMoon (KANG), a new project tipped as the next 50x token in 2024, has captured investor attention as its presale accelerates in stage 3.

Top meme coins eye upside as Bitcoin spikes

The broader meme coin sector, according to data from CoinGecko, has recorded a 4% dip in market cap in the last 24 hours.

Shiba Inu (SHIB) and Bonk (BONK) are the two meme coins to see the most declines in the past week. According to market data, SHIB price has decreased more than 11% and Bonk more than 15%. Dogecoin has also trimmed gains from highs of $0.2 to around $0.17.

Elsewhere, headline making dogwifhat, Pepe, and FLOKI are poised near key support levels after paring gains this week.

Yet, with altcoins expected to embark on a massive “altseason”, these meme tokens could be among hot trends in coming weeks and months. This particular forecast aligns with the hot narrative around meme coins, AI and crypto – particularly with Bitcoin (BTC) hitting the gas pedal as prices hit a new all-time high above $73k.

Could the first-rising meme coin KangaMoon be the one to watch in the market?

KangaMoon (KANG): A new meme coin focused on SocialFi and Gaming

Meme coins have been hot in recent weeks, and as noted above, are projected to continue on this trajectory. But most of the tokens currently in the market offer no value and thus likely to see fleeting gains as hype dies down.

KangaMoon outlines a different approach that’s endearing to crypto enthusiasts.

With KANG as the native token, KangaMoon looks to become the next meme coin king through its integration of SocialFi and play-to-earn. The $KANG token will provide for this utility function as the ecosystem’s in-game currency.

Rather than speculation and transient hype, KangaMoon’s looking to be a crypto mainstay with its P2E game.

Aside from exclusive rewards for winning matches, holders can accumulate more tokens through participation in special events and challenges. A chance to collect rare in-game assets is another incentive. 

According to the KangaMoon whitepaper, in-game items will be tradable on a marketplace for $KANG holders.

KangaMoon: Earn more $KANG as presale continues

One notable feature that distinguishes KangaMoon from would-be meme coin rivals is its offering of an opportunity for presale participants to earn more $KANG. Once an individual buy $KANG via the official presale page, they won’t have to wait until the project goes live to start accruing more tokens.

The project’s unique SocialFi model allows token holders to earn extra $KANG by competing in weekly, monthly, and quarterly challenges.

There are also special giveaways and rewards, including a dynamic referral program and presale bonuses. Currently, the platform offers a 10% bonus on all KANG purchases.

KangaMoon’s presale is currently in stage 3, with $KANG priced at just $0.01125. This represents a substantial increase from the initial price of $0.005.

As the project navigates the token sale, analysts see the strong social-fi and P2E outlook as big boosts for KangaMoon in the future. This is potentially one of the most exciting meme projects set to enter the crypto market in 2024. The early presale stages offer a chance to get into what could be the next 20x token.

Learn more about how to earn $KANG in presale here.

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• Vega introduces a derivatives market for crypto points, starting with EigenLayer.
• Vega aims to allow users to hedge point values, providing cash-settled futures contracts.
• Other platforms like Whales Market and Pendle also facilitate points trading.

Vega, a derivatives network, has introduced a groundbreaking initiative in the cryptocurrency space by launching a derivatives market for crypto points.

This innovative move, spearheaded by Vega, aims to revolutionize the trading landscape for points, starting with EigenLayer.

Creating opportunities for crypto trading

Vega’s entry into the crypto points market comes at a pivotal moment when the demand for trading opportunities for such assets is on the rise.

Points, reminiscent of loyalty rewards in traditional settings, have found their way into the crypto sphere, offering users the potential for future token airdrops. However, the uncertain nature of these points poses challenges for traders seeking to hedge their value and speculate on their potential.

Vega’s derivatives market addresses this need by providing a platform for users to manage risk and explore trading strategies effectively.

Hedging the value of crypto points

The derivatives market introduced by Vega enables users to hedge the value of their points, mitigating the risks associated with uncertain outcomes such as token airdrops.

By offering cash-settled futures contracts with options for fixed and dynamic settlement dates, Vega provides traders with a flexible and efficient mechanism for risk management.

Moreover, platforms like Whales Market and Pendle, which offer features for points trading and leveraging, further contribute to the burgeoning ecosystem of crypto points trading, underscoring the growing interest and demand in this space.

The permissionless market creation feature of Vega’s derivatives network empowers market participants to explore new opportunities beyond EigenLayer.

As the crypto points market continues to expand with the adoption of points by various projects, Vega’s initiative sets the stage for innovation and growth within the ecosystem. However, traders must remain vigilant of the risks associated with trading points, particularly in light of project-specific policies regarding token distributions and airdrops.

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