Ari10 Weekly Newsletter #113 (Crypto Business Insights, Crypto Market News and Ari10 Company Update)

What happened this week in the crypto space?

GM! This is Mateusz Kara.

And you've just found the best place in the crypto space to know more about the blockchain industry. I'm also giving you updates on my biz.

In Today's edition:

1/ Joe Biden Says "No"

2/ Will We Have to Wait Longer for Ethereum ETFs?

3/ A Stablecoin That Lets You Earn

4/ Popular AI Scam Using Elon Musk's Voice

+ Crypto Business Insights & Ari10 Company Update

Sounds interesting? I think so.

Let's dive deeper into the crypto rabbit hole:

1/ Joe Biden Says "No"

Starting with some bad news: Joe Biden vetoed a pro-cryptocurrency bill. Congress had previously passed legislation to reduce the SEC's power over the Bitcoin market. The bill aimed to liberalize laws, making it easier for banks to store cryptocurrencies for their clients.

However, President Biden vetoed the bill, stating that he "will not support measures that threaten the well-being of consumers and investors."

2/ Will We Have to Wait Longer for Ethereum ETFs?

It turns out that we might have to wait longer for ETH ETFs. Although the SEC agreed to their creation, it has not yet approved the S-1 filings. This would allow ETFs to be introduced to stock exchanges. When will this happen? That's the problem.

Gary Gensler, the SEC head, appeared on CNBC and said that the introduction of ETFs to the market "will take some time." He pointed out that many companies in the cryptocurrency market are breaking U.S. laws, which will delay the introduction of ETFs to the exchanges. What does this mean? It means that the funds may not launch in June.

3/ A Stablecoin That Lets You Earn

Paxos International has created an interest-bearing stablecoin called Lift Dollar (USDL), which will be backed 1:1 by liquid U.S. government securities. This is the first stablecoin that offers interest, with a 5% annual yield.

Unfortunately, for now, the stablecoin will not be available to residents of the United States, the United Arab Emirates (except for the Abu Dhabi free economic zone), the United Kingdom, the European Union, Canada, Hong Kong, Japan, and Singapore. It will be available to Argentina citizens.

4/ Popular AI Scam Using Elon Musk's Voice

A video has surfaced online featuring Elon Musk's voice, encouraging people to send him bitcoins, promising to return twice as many coins. Of course, this is a scam using the AI-generated voice of the businessman.

The video appeared on the SpaceXFromElon channel, which has nearly 3 million subscribers. This fake account impersonates SpaceX, the real company account, which has 6.7 million subscribers.

Crypto Business Insights ??

Registration of Traditional Currency Exchange Activities

Traditional currency exchange activities, due to the Foreign Exchange Law regulations, are subject to specific registration obligations. In particular, they must be entered into the currency exchange activity register. When establishing a traditional currency exchange, one must follow the pattern and principles specified in the executive act – Order No. 20/2004 of the President of the National Bank of Poland (Official Journal of the NBP from 2004 No. 17, item 32) and submit an appropriate application to the NBP President. The application should not only contain all the data required by the regulations but also include a statement that the data provided in the application for entry is complete and true, and that the applicant is aware of the conditions for performing such activities and meets them. The applicant must also declare that they have a current certificate of no criminal record and documents confirming the required qualifications. Of course, stamp duty must be paid.

Exemption from Registration for Cryptocurrency Exchange Offices

When establishing a business in the form of a cryptocurrency exchange office, the registration obligation must be fulfilled. However, it is not necessary to enter it into the currency exchange activity register. The activities of exchange offices dealing with the purchase and sale of cryptocurrencies are not subject to mandatory entry into the currency exchange activity register due to the prevailing definition of virtual currency.

ARI10 COMPANY UPDATE ??

In line with Ari10's global expansion, new branches are being established! ??

Nevertheless, they would mean little without the exceptional specialists responsible for them, each with extensive experience in business development.

Let's welcome two superheroes:

???? Diana Stetiu - Country Manager in Romania

???? Martin Hergovi? - Country Manager in Slovakia

We are honored that they joined us, and we will be happy to tell you more about them! ??

https://www.dhirubhai.net/feed/update/urn:li:activity:7204865916432441345

Here's why I believe my founder's journey at Ari10 is important for our company's growth.

Every founder starts as an accelerator for their company.

But they can become a blocker if they don't grow with it.

As a founder, you need to ?

1) Learn really fast

2) Grow your business skills

3) Develop new skills as your company grows

4) Delegate tasks quickly

Sharing this journey shows that.

To grow your business, you must grow as a businessperson.

Weak businesses + founders unwilling to grow = growth stagnation.

I'm not a perfect founder, but I'm honestly trying my best to develop new skills and become a better CEO as my company grows.

What do you think? ??

Comment below!

And that’s all for today. Thanks for your time, investors & Crypto Geckos! ?? ????

Please rate this newsletter with a reaction

?? - well done, Matt

???? - acceptable, it’s OK

?? - meh, do better…

Thanks for your feedback and see you next week!

Mateusz Kara