Clear Crypto Regulation to Boost Ethereum, Cardano and DogeMiyagi – Euro Weekly News
By Guest Writer • 10 July 2023 • 8:30
The crypto world received a shot in the arm as the UK has passed legislation regulating crypto. The development is huge news for the crypto world’s efforts to make it to the mainstream. The UK bill brings clarity about crypto regulation and will facilitate their trade.
This article will look at the potential of the bill and its impact on tokens like Ethereum (ETH) and Cardano (ADA). The bill’s impact on new projects will be looked at through DogeMiyagi (MIYAGI), a viral new project in presale. Read on to find out more about the bill and the prospects of ETH, ADA and MIYAGI.
Ethereum has started showing signs of a mild recovery from May’s fall in prices with an uptick in trading volume. The network was affected as news from the US signalled a crackdown on crypto.
The US SEC filed cases against exchanges Coinbase and Binance, which alleged crypto assets are securities and should come under the securities law of the country. Though ETH was not named in the lawsuits, its price was affected, with ETH briefly touching $1600 levels, a very low price band.
ETH prices are rising on the back of emerging regulatory clarity like the UK bill. A clear regulatory framework will help boost ETH prices as it will provide ETH with greater regulatory footing in the UK’s financial system. The Ethereum network’s position as the network of choice for DeFi applications will make it critical in the growth of the DeFi sector, signalling a price climb.
Cardano was the hardest hit after the SEC’s cases against Coinbase and Binance. The token was named in the lawsuits as a security and alleged that it would be barred from trading unless it would comply with securities laws of the US. The move from the SEC would have far reaching implications for Cardano as it would erode the network’s decentralisation and the promise of privacy. But the Financial Services & Markets Act 2023 of the UK holds promise for ADA’s future.
The UK law will bring in regulatory clarity for ADA holders and will allow it a place in the UK’s financial system. The bill will also push similar legislation in other countries that would benefit ADA in the form of having a place in the mainstream of the financial system. A clear regulatory framework will give the Cardano network a big boost with its ecosystem that can support cutting edge DeFi applications. After a spell in the dark it is light at the end of the tunnel for Cardano finally.
DogeMiyagi, a meme coin in presale, first caught the attention of the market with its community-centred development plans. The network has stated that its community will be front and centre of its project. To underline its commitment to its community the network has stated that it will transition to full DAO (Decentralised Autonomous Organisation). The move will empower holders of MIYAGI to have a say in the network, strengthening the network.
To build a network that rewards holders, DogeMiyagi has plans to roll out NFTs that can be traded and monetised by holders. MIYAGI will power the network’s NFTs and will also be the reward in the network’s incentive schemes. The foremost incentive scheme in the network is its referral scheme that lets holders generate referral codes. When someone makes an investment the owner of the code would receive 10% of the investment to their wallet.
The network also has a burn mechanism in place to ensure that MIYAGI price will appreciate in the future. The network’s burn policy is spread out over five stages. The burn will start with a liquidity of 96,192,515,112,011 to 9,518,812,011 at the end of the fifth stage. Thus buying in early would ensure holders can cash in on MIYAGI’s price zooming with each burn stage.
Emerging crypto regulation holds the hope of ushering in a future of stability for tokens like ETH and ADA. After time in limbo ETH and ADA can make use of clear regulatory frameworks to forge ahead with their plans for DeFi and emerge prosperous. DogeMiyagi can also make use of crypto regulation to be a network of promise with its burn policy and referral program.
For more about DogeMiyagi:
Website: https://dogemiyagi.com
Twitter: https://twitter.com/_Dogemiyagi_
Telegram: https://t.me/dogemiyagi
Sponsored
WARNING: The investment in crypto assets is not regulated, it may not be suitable for retail investors and the total amount invested could be lost
AVISO IMPORTANTE: La inversión en criptoactivos no está regulada, puede no ser adecuada para inversores minoristas y perderse la totalidad del importe invertido
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