GM HEARTLAND |
Legal tender is losing ground in Europe and DeFi is billowing on the horizon like a beautiful star-spangled banner. Please excuse me while I celebrate in the most American way possible: Blowing shit up in my backyard. |
—El Prof, Muhammed & Chad |
TOKEN | PRICE CHANGE | PRICE |
|---|---|---|
Solana ($SOL) | -4.44% | $134.90 |
Helium ($HNT) | -13.80% | $3.12 |
Pyth ($PYTH) | -15.75% | $0.27 |
Solend ($SLND) | +4.99% | $0.51 |
(Price changes reflect past 7 days as of 7.5.24)
The European Union’s Markets in Crypto-Assets (MiCA) framework has awarded Circle, a major issuer of stablecoins, an Electronic Money Institution (EMI) license.
Stablecoins are cryptocurrencies pegged to a real-world asset, such as the U.S. dollar or the Euro, aiming for price stability. They have the potential to streamline financial transactions and offer wider reach, potentially making financial services more accessible.
This license allows Circle to gain a competitive advantage in Europe by issuing its popular stablecoins, USDC and EURC, in compliance with MiCA regulations. With the company already poised to launch these tokens, this marks a major step forward toward our own proverbial green light: a fully realized decentralized finance (DeFi) system.
The approval represents a significant development in the crypto industry for several reasons:
It legitimizes the use of stablecoins, potentially paving the way for similar regulatory frameworks in other jurisdictions.
The clear regulatory framework established by MiCA for Euro-backed stablecoins fosters a competitive market, allowing banks and EMIs to integrate these digital assets into their offerings confidently.
This wider adoption could attract more institutional investors, payment firms, and enterprises to the crypto and web3 space, setting the stage for the mainstream adoption of stablecoins.
That said, MiCA’s strict guidelines and requirements may also raise the bar for entry into the market. While this can ensure a safer and more transparent environment for investors and users, it could also pose challenges for new players.
Nevertheless, Circle’s compliance sets a precedent for other stablecoin issuers, potentially leading to a more robust, transparent, and secure market environment for investors and users — and, if we’re lucky, less widespread reliance on centralized currency.
—Muhammed
Is your hard-earned crypto burning a hole in your pocket? Maybe hold off on buying 5 minutes of a Wu-Tang Clan album and transfer it into $SOL instead. You may have to HODL it for a few more weeks, but you’re not going to want to miss out on this.
playhaus is no PleasrDAO, and playrs is not just another PFP project. Our forthcoming NFT collection puts utility and the art on an even level. Each playr is a proverbial key to the playhaus and every feature of its business-boosting ecosystem, beginning with instant access to our alpha growbot product, and our most favorable pricing model guaranteed for life.
Fill out this form to request traits you’d like to see included in the first collection, and join our Discord to vote on designs, participate in giveaways, and more.
You don’t even have to insert a coin to be a playr.
Yesterday, we celebrated nearly 250 years since the birth of America. But what does it mean to be an American? I think we’ve forgotten.
I’ve always subscribed to the view of America as a melting pot. I believe its massive economic success and social influence are a testament to the prosperity and ingenuity that come from bringing together a wide range of perspectives to solve problems. America has always been an experiment of sorts, and despite the tenor of cultural conversations these days, I think it’s still fair to say there are few other countries in the world that are as open to having that conversation; certainly not ones with as diverse a population as our own.
Still, this lingering divisiveness is likely why America feels far less free today than it once did, for almost everyone. You know what they say: Divided we fall. And indeed, much of the fear surrounding emerging technology — if you’re in my corner of TikTok, it’s all talk of digital twins AI companions connected via brain chips and controlling people’s ability to participate in commerce — stems from distrust; in companies, governments, each other, ourselves.
But it is against this backdrop that at least one emerging technology seems in line with the spirit of our past triumphs, and, perhaps, a better future.
Web3 and cryptographic technology — particularly in the use case playhaus is working on, a digital ID — can benefit both the individual and the collective. Used correctly, it could enable free, fair access to global public infrastructure, without putting the power to turn the faucet on or off in a single hand.
Cryptographically-powered digital identification would disincentivize bad actors from, well, acting bad, helping to rebuild the trust we desperately need if we are to continue to achieve the cutting-edge acclaim we are widely known for, but only previously reached through collaboration. But this can only work if the technology is decentralized. As Americans loudly demonstrated a couple centuries ago and surely will again, there either must be trust in the institutions we depend on, or independence.
This is what digital IDs are all about. We believe the ideals enshrined in the Declaration of Independence must live on in the Etherspace: Freedom and Accountability For All.
—El Prof
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