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Securitization of companies beyond the US, extends tokenized coins to the UK

Securitize, a US-based blockchain company known for its expertise in tokenizing real-world assets, has expanded its operations to Europe.

The company entered the specialized sandbox of the General Secretariat of the Treasury and International Finance of Spain for digital asset values. Consequently, Securitize began issuing tokens representing shares in Mancipi Partners, a Spanish real estate investment fund.

Tokenization involves converting conventional financial assets, such as stocks and bonds, into digital tokens and issuing them on a blockchain platform.

This marks its first European trial, allowing Securitize to demonstrate its capabilities in the European market. Carlos Domingo, co-founder of Securitize, stated:

   Securitize is now the first company to be able to issue and trade tokenized securities in the US and Europe, and is the first company to do so under the new EU pilot regime for digital assets.

Securitize considers Spain’s sandbox environment key

Under supervised conditions, the Spanish General Secretariat of the Treasury and International Finance has approved the company to implement digital asset securities for a select group of companies and investors. According to the press release, this approval represents a recent achievement for Securitize in the European market.

Securitize views the Spain sandbox as a crucial milestone, allowing the company to conduct real-world testing before acquiring the necessary licenses.

After a period of six months, the company obtains the approval of the European Union Pilot Regime, which allows Securitize to proceed with the issuance, management and trading of tokenized securities in Spain and the EU in general.

The shares have been tokenized on the Avalanche blockchain, and secondary trading of these tokenized shares is expected to begin in September.

In May, the firm partnered with asset management firm Hamilton Lane to increase investor exposure by offering tokenized securities.

Amparo García Flores, CEO of Securitize Europe Brokerage And Markets, mentioned:

   This is not just theoretical work; we are showing that what we have in the US is viable in Europe. This means we can open up our market on both sides of the Atlantic, effectively doubling the size of our business and the opportunities for issuers in Europe that previously did not have the same opportunities as their US peers.

In the US, the company offers a range of services that cover the entire lifecycle of a security token. These services include issuance, capital increase, dividend distribution, shareholder meetings, redemptions and facilitation of securities trading in the secondary market.

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Slovak Parliament Approves Cryptocurrency Tax Cut

The Slovak parliament voted on June 28 to approve a change that will reduce personal income tax on profits made from the sale of cryptocurrencies that the user has owned for at least one year. Click here for more information on cryptocurrency trading.

Taxes will be cut from the current sliding scale of 19% or 25% to 7%, a significant reduction. Cryptocurrency payments of up to 2,400 euros, or about $2,622.20, will not be taxed.

More tax breaks for cryptocurrency users in Slovakia

Additionally, the bill that was voted on exempts cryptocurrency income from a 14% contribution to health insurance.

A local Slovak media reported that the Ministry of Finance believes that the amendment will have a financial impact of around 30 million euros per year. A few weeks ago, the parliament approved another constitutional amendment that codified the right of citizens to use cash as a form of payment in light of the discussion on a digital euro.

Slovakia is one of the 27 nations that make up the European Union, which has been actively working on regulating the cryptocurrency market. On May 31, the EU passed its landmark Markets in Crypto Assets (MiCA) regulations, as previously reported here. The rules were developed with the intention of making Europe a hub for trading digital assets.

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Payments Giant PayPal Invests in New Crypto Wallet Software to Boost Web3 Adoption

Payments giant PayPal is investing millions in Magic, the San Francisco-based crypto wallet company, in its latest venture into the digital asset space.

According to Magic’s press release, the wallet-as-a-service (WaaS) provider has raised $52 million in a strategic funding round led by PayPal Ventures.

According to Alan Du, partner at PayPal Ventures,

“Mass adoption of Web3 is a hot topic, and Magic is facilitating it with a simple and secure solution. discover Web3. We are proud to invest in Magic and are confident that the company will help increase the number of use cases for Web3 among global brands.”

The funding round also included investments from Cherubic, Synchrony, KX, Northzone and Volt Capital, bringing the total amount raised by Magic to $80 million, according to the release.

Magic, a 2018 tech startup, provides a non-custodial crypto wallet infrastructure for companies that want to give their customers a simple and secure Web3 experience.

The company uses a unique Software Development Kit (SDK) which is implemented to allow customers to instantly create wallets using their existing email, social media accounts or SMS. To date, Magic has created more than 20 million unique wallets, according to the release.

Current Magic customers include several branded companies, including Mattel, Macy’s, Xsolla, and Immutable.

Magic co-founder Sean Li said the funding will allow the company to expand its presence in the European Union (EU) and Asia-Pacific (APAC) region.

says Li,

“With this new funding, we are focused on expanding functionality and growing use cases to continue to deliver more value to our customers. We also look forward to achieving deeper integration in the EU and APAC.”

Paypal’s recent filing with the United States Securities and Exchange Commission (SEC) shows that the company held approximately $604 million in digital assets, including $291 million in Bitcoin (BTC) and $250 million in Ethereum (ETH), in the fourth quarter of 2022.

Last December, they also announced a partnership with cryptocurrency firm ConsenSys to integrate PayPal with MetaMask, one of the most popular cryptocurrency wallets in the world.

In April, PayPal-owned Venmo announced plans to allow its more than 70 million users to transfer cryptocurrency to other Venmo users, as well as move digital assets to wallets and external exchanges.

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North Kingston Police Talk About Growing Crypto Scams

Crypto Scams: Will They Stop?

Cryptocurrency scams are nothing new. In fact, they have practically been around since the industry was developed almost 15 years ago, but never before have they taken such drastic and varied forms. For example, among the most prominent forms of digital currency scams in recent times are romance scams, which aim to target those looking for love online.

Many cryptocurrency scammers will create fake or fake “love” profiles online. They get closer to their victims and build long-term relationships. They get to know them, make things very personal and clear, and before long (after gaining the trust and attention of their victims), they tell the other parties about new “fantastic” cryptocurrency investment opportunities and that it would be a foolishly avoid getting in on the action.

From there, victims feel compelled to put money into the platforms, and they do. At first, they finally see gains and start to get excited. In many cases, they invest more money when they see the numbers go up, but when they try to make withdrawals or withdraw money, problems arise. They often hear that they should invest more, and before long, they realize what happened.

The platforms were controlled by illicit actors and there is little to no chance of them getting their funds back. Steve Weisman, author of “Identity Theft Alert,” said in a statement:

   The elderly are often the target of this and unfortunately they end up losing a lot of money. The cryptocurrency companies that own these ATMs don't want to work with criminals and put the warnings right there on the ATM, which is fine if someone you know is going to give that moment of hesitation.

How to talk to bank tellers

According to him, the fraud in question is carried out through bitcoin ATMs in convenience stores and grocery stores. However, victims are sometimes forced to withdraw money from their banks, and the scammers have given them a list of things to say in case bank tellers ask questions or appear suspicious in any way. Weismann said:

   They will tell people not to respond to certain things. That 'No, I am aware that this is legitimate, this is a business transaction.' and it is often very difficult to deter them.

Ultimately, while the crypto space seems to be growing like never before, crime focused on its fringes is also expanding.

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Bitcoin develops a $ 35,000 prize in Argentina

Bitcoin is quoted with a prize in Argentina, with a bitcoin that costs $ 35,000 more than the global price due to the country’s rampant inflation and the strict capital controls.
A bitcoin is $ 35,000 more expensive in Argentina than anywhere else in the world, according to the price data of two of Argentina’s largest cryptographic exchanges.

Ripio, which has 4.5 million users, says that the current purchase price of Bitcoin is 13,800,000 ARs. The selling price has a difference of one million ARs, or $ 5,000, with 12.8 million air.

Your nearby competitor, Buenbit, says you can buy a bitcoin for ARS13,738,800.00, or $ 62,000. Bitcoin’s current global price is $ 27,000.

This is the greatest cousin we saw in amounts of dollars; Therefore, to validate, we ask some Argentine Cryptonians who have confirmed that a bitcoin is currently quoted for about 14 million air.

This is because the official exchange rate between USD and ARS is not the market rate. On the other hand, it is only available to employees in the middle of the current market rate of 483.00 air per blue, as Argentines call the real exchange rate to USD.

The officer, Dollar Banco Nacional (Dollar BNA) is in 218, according to Ambitio, a financial newspaper in Argentina.

The tokenized dollar, such as USDT or USDC, is even more expensive than the market rate for 502 ARs per token, according to Buenbit.

The reason is presumably because you can transfer USDT or USDC much easier than money in cash or dollars.

Argentina has rigid capital controls with any individual capable of buying only $ 200 from USD and requires permission to transfer it out of the country. Similarly, companies must obtain authorization from the Central Bank of Argentina to access the exchange markets.