The “European Blockchain Regulatory Sandbox” is an initiative of the European Commission (EC) created to promote the most innovative use cases and applications of blockchain technology and DLT. This and more news in this practical summary daily so that you are always informed with events most recent that occur within the crypto world.
The European Commission and blockchain technology
📍A regulatory sandbox has been launched for blockchain industry projects in Europe. Called the “European Blockchain Regulatory Sandbox”, it is a testing environment that allows creating a regulated space so that companies and projects can innovate in various areas of new technologies, while at the same time dialogue with regulators to apply the cases. most prominent uses of these technologies in the public and private sectors.
Through the “European Blockchain Regulatory Sandbox”, the EC hopes to create a framework where regulators, supervisory authorities and innovators of the blockchain industry are involved in the regulatory dialogue. This in order to identify obstacles from different perspectives to provide appropriate solutions and increase the legal security of decentralized technological solutions based on the blockchain.
Just like explains the European Commission, the regulatory sandbox is focused on projects in the blockchain industry and DLT, distributed accounting technology, applied in different industrial sectors such as energy and public services, education, medical and health care, mobility, finance and logistics and supply chains.
In total, through this regulatory sandbox, the EC expects to serve 20 blockchain industry projects each year.
Bitcoin and several altcoins rise this Wednesday
📍The price of Bitcoin is trading above $24.000. Two major altcoins, Cardano and Dogecoin, are up more than 8%. The crypto market closed on Wednesday with several of the main cryptocurrencies in the green.
Although the rally has been more significant for crypto assets such as Astar and Optimism, the main cryptocurrencies by capitalization, Bitcoin and Ethereum, gained 11% and 9%, respectively, on Wednesday. The rise has led the price of Bitcoin to reach $ 24.600 dollars per unit, a value it had not seen since last July, while Ethereum touched the $ 1.700 dollars again this month.
Bitcoin and Ethereum price in the last month. Source: CoinMarketCap
On the other hand, the altcoins Cardano and Dogecoin also gained an important percentage on Wednesday, rising to $0,41 y $0,09 dollars per unit, respectively.
In the case of Cardano, the arrival of a new update focused on network interoperability, called “Valentine”, increased the enthusiasm of the crypto community, while a post by billionaire Elon Musk about his pet Floki skyrocketed the price of Dogecoin. , as well as other dog-inspired tokens.
South Korea sets regulatory sights on staking
📍After the United States, South Korean regulators could be the next to rule on cryptocurrency staking. According to report According to local media, South Korean regulatory authorities are showing interest in cryptocurrency staking.
Although the media points out that the regulatory authorities have not seen problems in how this activity is developed in the country, they intend to explore staking in more depth to examine its operation in a more exhaustive way and determine whether or not they are securities.
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