More... "The use of an automated process such as a smart contract to carry out VASP functions does not relieve the controlling party of responsibility for VASP obligations."
This suggests that decentralized finance may be on the cusp of becoming KYC'ed.
@CryptoCobain
@jebus911
The more it becomes integrated into mainstream finance also I think it accelerates away from the left (bc of the above). Earlier on I’d argue it was more balanced. As someone who is left wing in almost everything, now I’m just full on confused.
On July 8th I’ll be speaking with the
@UN
on how permissionless protocols like
#bitcoin
can help reduce the inequality gap & how
@shyftnetwork
is building open source solutions to balance
#reg
and
#privacy
.
@icebergy_
Dude this is actually the wildest thing I’ve heard in like 11 years of crypto. penguism has just become a religious experience for ppl. Wtffff
I left Canada after being one of the earliest innovators in the crypto asset industry because of the countries political approach. I applaud this effort & am happy to help however I can.
Canada should be attracting billions of dollars in investment in the fast growing cryptoasset industry.
Today I introduced a bill, the first of its kind in Canada, to make sure this become a reality.
Learn more about my bill at
This should be a good one! Come check out our session tomorrow as we deep dive into the regulatory space & explain how
@Worldpay_Global
and institutions look at the future of co-integration with the crypto ecosystem.
Binance constantly reviews its products and services to enhance user protection, provide a safe crypto environment and to align with the evolving global compliance standards. As an important step forward, we’re updating our global KYC requirements for all users.
We built
@shyftnetwork
because we knew one day these would become a reality. That time has come. At least we have the early makings of infrastructure we can demonstrate to solve some of these risks, potentially mitigating the amount of impact this has when going into regulation
Excited to announce this as we begin a multi-phased deployment w/ the largest exchanges. Our mission is to protect decentralization from regulation. This is only a small part of
@shyftnetwork
as we work to deploy global attestation infra. 4 yrs in & we’re just getting started 🚀
Crypto protocols like
@shyftnetwork
will solve the balance between privacy & regulation. The challenge will be on policy makers to accept new formats and approaches to risk evaluation.
FinCEN's Michael Mosier describes the balancing act between privacy and financial data:
"You need a measure of transparency to know who's on the other side of a transaction or a deal," he says.
#Consensus2021
Register:
@mablum
Everyone has a right to privacy; Twitter isn’t a Bloomberg terminal (doxxing & calling it “transparency” is ridiculous). info is free for those who care to take it or not.
@WifeyAlpha
was doing just that, giving info for others to take it, learn from it, & do what they want. 🤦♂️
So excited for what is coming next
@shyftnetwork
. Teams are building systems that leverage regulations, and allow us to enable incredible things that protect individual sovereignty & accelerate everything. All of this is far beyond what the traditional world can do 🔮.
Excited to support
@gevulot_network
as an angel and help build this much-needed infrastructure. A distributed compute network for generating proofs is critical to further decentralizing applications, L2s, and many other use cases that utilize ZKP’s, all while enhancing censorship
@cobie
Pretty smart way of eliminating use of privacy tech. Sanction the dapp providing anonymization services by its addresses so ppl who use it get in thrown into the sanctions violations category. Damn
I have reviewed the SEC's proposed amendment to Regulation ATS. As strongly hinted at by
@HesterPeirce
, it is a major threat to free speech, investor choice and technological innovation. More thoughts here:
This is a huge win for the industry and for
@shyftnetwork
! Global regulators have agreed to use a decentralized discovery system to enable the travel across all exchanges and the industry.
Great to see two
@coinbase
predictions for 2022 are exactly what
@shyftnetwork
has built! A global attestation layer for web3 unlocks new markets & capabilities further enhancing our digital economies. The attestation & trust layer is the last pillar:
Prediction
#9
: Compliance, AML-KYC will be a huge focus in 2022 as regulators step in to regulate the space. Shyft has major exchange integrations coming. My bet is on Shyft Network being a 3-5 bagger in 2022.
@shyftnetwork
is a long term bet that crypto will overtake the majority of payments networks and become embedded in our digital lives over the next decade. Looking pretty good right now. 🤝
As regulations accelerate, people will realize why
@shyftnetwork
is a vital balancer in the fight between total centralized control and permissionless finance. We need options to prevent an onslaught of policies that kill the open side of crypto🔮
This week several core members of
@shyftnetwork
’s core team are at the G20, working to educate policymakers and collaboratively solve core regulatory issues blocking the ecosystem from further growth. In the face of FTX, we have work to do, but the future is bright!
We’ve waited years for institutional adoption to come into crypto. Excited to be driving it forward with
@FISGlobal
. Check out our interview on regulation & the
@shyftnetwork
collaboration [SPONSORED by
@Worldpay_Global
] Regulation: The Path to Ubiquity -
The Lords love
@shyftnetwork
as it solves all the plumbing issues traditional systems, and finance, has presently with crypto. Striking the balance between traditional rules and new paradigms is our biggest battle but we will solve it, together.
Had a great time doing this chat & giving a breakdown of what’s on the shyft horizon! Q1 2022 is going to be an absolute monster for the
@shyftnetwork
💪🏻
We speak with
@josephweinberg
Co-Founder of
@shyftnetwork
on digital identity compliance, the FATF, how regulation is progressing for cryptocurrency service providers, what's new with
#Shyft
Network and more.
👇 Watch the Full Interview:
We built this space to help people drive a more open society. Anonymity is important but with great power comes great responsibility. The new generation of innovators need to lead with a moral compass, it’s the difference between survival & reg death. The Future is in your hands.
Every ecosystem needs options and more tools to develop new marketplace infrastructure. Excited to see
@shyftnetwork
expand across more communities in order to address our ecosystems toughest challenges.
💥Thrilled to announce our partnership with
@0xPolygon
!
💻Developers will be able to integrate our core contracts into their Dapps and enable KYC & ID primitives for
#Defi
, compliant asset pools, and verification across Dapps
👉Read more:
A great explainer from my long term brother in arms on what the FATF is, does, and what it means for all users in our ecosystem. We all need to act as our voices and actions matter now more then ever to the future of
#bitcoin
and crypto.
The most powerful organization you've never heard of has declared war on your
#Bitcoin
FATF is the boss-level enemy.
Who are they and why are they Bitcoin's biggest enemy?
People underprice the cost of security. $SHFT ensures that security & rule enforcement is guaranteed, eliminating censorship risks, data mining attacks from untrusted counter-parties requesting user’s identity data & a simple way to unify rule sets to ensure equal access for all.
The Shyft Network Core Team is Excited to Announce Open Source Veriscope, as it prepares to enable cross solution discovery to Make Travel Rule Compliance Open, Free, and Simpler than Ever.
👉
$SHFT
As today is among the worst days in crypto, it is important to always remember that the industry was based on security fundamentals. Don’t trust, verify. Proofs are critical in ensuring everything, whether it’s client funds or user data.
3) - Address proofs will also help VASPs comply with the local data protection rules they are subjected to
Want to know more about Address proofs? Visit here:
And contact our BD team here for a discussion:
1/n
Putin didn’t just invade the Ukraine on 2/24/2022, he officially ended the
#petrodollar
system. How? Remember, Russians don’t do anything without a plan. They and China have been prepping for this moment for years and are now ready:
The common wealth represents 1/3 of the worlds population. For years many people have quietly, for the betterment of crypto, worked for nothing to build regulatory systems that would ensure our ecosystem has places to call home.
Really excited to see institutional infrastructure co-designed to eliminate and obfuscate things like on chain front running, and anonymizing liquidity flows, while also maintaining end to end compliance guarantees on
@shyftnetwork
with
@ZKPanther
. 🤝
@OriginalOlii
Jam packed day tomorrow! Join me at 9am est for a chat with
@Worldpay_Global
on the co-integration of institutions & crypto with regulation.
Then check out my panel at the
@UN
on how we can bridge inequality while resetting the crypto policy tone : 🙏🏽
We wanted sound regulations built on how our ecosystem functions, tailored to ensure innovation can continue flourishing. What we’re going to get now are knee-jerk reactionary regulations that do the opposite of making cryptocurrency systems easy to spread globally.
The intersection between traditional infrastructure & decentralized tech will unify through opt-in compliance protocols. Keeping two ecosystems: one of anonymity & one of compliance primitives is the end game. To keep regulation at a balance we need to build both systems.
Awesome feeling when you see all projects deploying institutional defi systems and none of them approached it like you. That’s the difference between 4 years of design on how to bridge decentralized projects with the traditional world & quick reactive dev. The collabs will be 🔥
Super excited to finally get this out! Bridging the traditional world with crypto is the goal. Adding
@Worldpay_Global
&
@FISGlobal
to the $SHFT network will accelerate a trusted data ecosystem and create compliant data networks across all of crypto.
Regulatory environments require centralized exchanges to step it up and comply with AML. We are proud to see our advisors
@rickmcdonell
and
@JoseeNadeau5
work with
@binance
and help build stronger VASPs 💪
Lol 15k to photocopy docs of a digital identity system. So wait, they don’t have a digital copy yet of the digital identity docs? very bullish on this 🇨🇦, What could go wrong 😑
Looking back 5 years to when we starting building
@shyftnetwork
it’s scary how right our thesis was. Every single regulatory risk and implementation surrounding customer data (KYC) is actually being pushed and we architected a system that could and accounted for all conditions.
The path of least resistance is not the path to success.
Nothing worthwhile can be achieved easily. Everything worthwhile requires a long period of hard work, with many failures along the way.
Remember this as you try to build incredible things that can change the 🌎.
Heads down already in 2022!
@shyftnetwork
dev team is fast at work ready to deploy new products and upgrades to take institutional data and on-chain data attestation to the next level. We’re not just building
#DeFi
, we’re reinventing its bricks 🧱
We bootstrapped a global movement that has reached the highest levels of every sector and government office on earth. We have had massive bumps along the way, but networks don’t die; they rapidly adapt to environments like living organisms.
@Wealth_Theory
I left 🇨🇦 right when they started shutting down & was best decision I could have made. Barbados is friendly & the power of crypto when you are a sovereign individual cannot be understated.
I just had a discussion with a lord in the UK parliament and the first thing he said was: I’m intellectually fascinated by
#bitcoin
. Amazing to see the perceptual change in just the last couple years.
Crypto has always been about helping others. We are enabling more options & freedom to all 🌎 that deserve the right to choose. The Common Wealth is our best path to a global & cross-jurisdictional reg framework. Regardless of others' messes, we continue to fight for adoption.
Good Breakdown that leaves out the secret sauce and differentiator Shyft Core has been working on topologically for
#defi
(coming up). We aren't talking about closed, compliant pools here, but a different architecture for the entire ecosystem to be inclusive on an opt-in basis 🔮
This is why Shyft was right in its thesis!
We had foreseen the global opinion forming on
#crypto
regulation 👀
And this is why Shyft began working on products to fill this void in the market 💡