Tether

• Oakville, Ontario, July 26, 2023 (GLOBE NEWSWIRE) -- Tether , Canada’s Budtender community, announces its highly anticipated VIP Summer Gathering and Holiday Showcase for Hamilton, Ontario and the surrounding area.
• The VIP Summer Gathering is set to take place on Tuesday, August 22 from 6-8 PM ET at Hamilton Film Studios, a 6,500-square-foot studio located in Hamilton’s north end.
• Tether is also thrilled to share its VIP partner Elevate Cannabis Industry Expo .
• Attendance at Tether's VIP Summer Gathering and Holiday Showcase is strictly limited to individuals aged 19+.

• At the end of last year, the Reserve Bank of New Zealand (RBNZ) published an issues paper, Private Innovation: Te Auahatanga, on digital currencies.
• The paper sparked a wide-ranging discussion on the development of the cryptoasset market and how to respond to the challenges it presents.

The future of money in NZ

• The RBNZ has mapped out a near future where businesses could accept digital currencies for payments, reducing currency conversion issues for international customers.
• The bank also raised the question of how New Zealand’s existing rules on money laundering and the financing of terrorism would apply to cryptocurrencies.

The key hurdles for cryptocurrency

Five key themes emerged out of the submissions received by the RBNZ. These core themes highlighted the concerns held by regulators, businesses and everyday New Zealanders.
• The rules need to evolve with the technology.
• That said, regulations need to initially be quite prescriptive.
• This would encourage innovation as well as help shape effective regulations, balancing the growth of the sector with risk management and consumer protection.


The submissions also highlighted the need for clear, accurate and accessible information on cryptocurrencies. Some respondents expressed concern about the general lack of knowledge about cryptocurrencies and how they work. The lesson from the collapse of the digital trading platform FTX is that New Zealand investors have to be protected, or at least made aware of, the risks of transactions through exchanges in more lenient jurisdictions.
Risk and opportunities were also points of discussion. Respondents to the RBNZ paper acknowledged the risks associated with cryptocurrencies, such as financial crime and the risk to the wider financial system. At the same time, they saw a significant opportunity to enhance competition and further innovation in New Zealand.

• This holds that if a cryptoasset presents similar risks to an existing financial product, it should be regulated in a similar manner.
• This implies a flexible regulatory stance that evolves based on the risk profile of the asset, thereby creating a fair and balanced regulatory environment for all financial instruments, traditional or digital.
• This could include blockchain analytics firms, crypto exchange platforms, research institutions and financial technology companies.
• Stablecoins, a type of cryptocurrency with value pegged to fiat currencies (a government-issued currency that is not backed by a commodity such as gold) or gold, drew interest during consultations.
• Regulations must be very clear on the reserve assets demanded, and market supervisors must monitor these reserves very closely.

The future is digital

• Although promising, the future of cryptocurrency in New Zealand is not without its challenges.
• As one respondent put it:
  The future is digital.
• The future is digital.

• This integration provides BingX users with enhanced access to stablecoin offerings, further expanding their options in the crypto market.
• Tether Operations Limited ( Tether ), a company behind the widely used stablecoin, is thrilled to partner with BingX in listing Euro Tether (EUR₮) and Tether Gold (XAU₮) on the platform.
• To celebrate the listing of Tether (EUR₮) and Tether Gold (XAU₮), BingX is launching an exciting knowledge quiz campaign.
• The listing of Tether (EUR₮) and Tether Gold (XAU₮) on BingX reaffirms the exchange's commitment to expanding its offerings and providing users with a diverse range of crypto assets.

• Notable advisors are renowned economists Tyler Cowen , Robin Hanson , Alex Tabarrok and Lawrence H. White , as well as Ameen Soleimani and Nic Carter .
• The full three-person team is CEO Benjamin Levit , Chief Economist Garett Jones and Ratings Director Vaidya Pallasena .
• Bluechip's stablecoin ratings are built on the SMIDGE rating framework, designed by the three founders.
• Externals is SMIDGE's room to grow: Bluechip hopes that sophisticated futures and betting markets will develop to offer information about the risks of particular stablecoins.