Ari10 Weekly Newsletter #115 (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/ SEC Concludes Significant Investigation

2/ Ripple Collaborates with Governments

3/ Winklevoss Twins Support Donald Trump

4/ Another Bitcoin ETF Launches

+ Crypto Business Insights & Ari10 Company Update

Sounds interesting? I think so.

Let's dive deeper into the crypto rabbit hole:

1/ SEC Concludes Significant Investigation

The SEC has concluded an investigation aimed at determining the legal status of ether: whether it is a commodity or a security. The information was released by Consensys, the company behind Ethereum.

"The SEC's Enforcement Division has notified us that it is closing the investigation into Ethereum 2.0," the company stated in a release. "This means that the SEC will not charge the sale of ETH as a securities transaction," it added.

2/ Ripple Collaborates with Governments

Ripple is a company known for working with banks and governments. A clip featuring CEO Brad Garlinghouse discussing his company's collaboration with approximately 10 governments on CBDCs has recently become popular online and in the media. This clip is from an interview at the end of 2023.

Why are we writing about this? Firstly, because the topic has resurfaced. Secondly, it shows that various countries are still interested in CBDCs and engage in discussions with blockchain market projects. This gives hope that some state digital currencies will be based on blockchain technology.

3/ Winklevoss Twins Support Donald Trump

Let's briefly explore politics. Tyler and Cameron Winklevoss, the twins who lead Gemini, have announced their support for Donald Trump. They donated $2 million in bitcoin to his campaign. This follows Trump's announcement that he will pursue a pro-cryptocurrency policy and accept BTC as a campaign donation.

"President Donald J. Trump supports bitcoin, cryptocurrencies, and business," Tyler wrote on X.

4/ Another Bitcoin ETF Launches

A new BTC ETF is entering the market, this time in Australia. The fund is backed by VanEck.

The ETF will be listed on the Australian Securities Exchange.

"(...) regulated access to [BTC] through ETFs has now become a reality in the USA, marking a significant step in the global acceptance of [cryptocurrencies]. Despite hurdles to clear in Australia, including challenges related to regulatory and exchange frameworks (...), VanEck intends to lead in providing the first bitcoin ETF fund to investors on ASX," the company said in a statement.

Crypto Business Insights ??

Registration Obligations for Crypto Exchange Offices in Poland

Operating a crypto exchange office in Poland is fully legal and regulated by specific laws and executive acts. Under these regulations, cryptocurrency exchanges are required to report to the General Inspector any accepted deposit or withdrawal of funds exceeding the equivalent of 15,000 euros, as well as any transfer of funds exceeding the equivalent of 15,000 euros. They also have the obligation to inform the General Inspector of any reasonable suspicion that a particular transaction or specific assets may be related to money laundering or terrorist financing. Additionally, crypto exchange offices are required to implement financial security measures and fulfill other obligations indicated in the Anti-Money Laundering Act.

When dealing exclusively with virtual currencies, there is no need to register a crypto exchange office on the currency exchange business register. This is due to the definition of virtual currency, which does not fall under the regulations of the Foreign Exchange Law. Therefore, crypto exchange office is not considered a currency exchange activity and is not regulated under the Foreign Exchange Law. A cryptocurrency exchange may also be subject to registration obligations in the Payment Services Act. Classifying an exchange as a Small Payment Institution is optional. However, taking such actions brings many benefits, primarily increasing customer trust in this type of business. Besides obtaining an entry in the relevant register, an entrepreneur starting an exchange business must also ensure that the registered entity is under financial authorities' supervision. Therefore, it is necessary to implement good practices, maintain transparency of operations, show concern for customer safety regarding financial security and data protection, and cooperate with financial supervision authorities in fulfilling statutory tasks assigned by these authorities and the entrepreneur's obligations.

The Future of Crypto Exchange Offices

The dynamic virtual currency market means crypto exchange offices are becoming more popular. The way crypto exchange offices will be legally regulated in the future largely depends on the further proliferation of services exchanging virtual currencies for traditional ones and vice versa. There is no doubt that the recent boom in the cryptocurrency market, resulting in new regulations, should be considered positive and, above all, as a necessary development of the sector.

ARI10 COMPANY UPDATE ??

???????? ??????????'?? ?????? - another successful month at Ari10 Gateway!

In May alone, we achieved:

? 72,000+ unique users

? 400,000+ successful transactions

Is it a lot? Yes, these are great numbers, but we aim much higher, as you can see by following our CEO's updates.

Off-ramp, more supported blockchains, and a constantly developing growth strategy have one common goal:

? We believe that all this will translate into much higher results at the end of the bull run, making us much stronger than ever in the bear market (which will come sooner or later).

Thank you for your constant trust in us, because it is the users who have the greatest influence on where we are and where we will be in a year or 10 years!

We are fighting in this crypto ring with a long-term perspective ??

The early days of my Ari10 startup journey were full of hard work and surprises.

Here's what happened ?

1?? We started in 2017 as a Bitcan(.pl) crypto exchange, but after one year, we lost all of our bank accounts. This left us totally unable to proceed further with the company, so we had to stop for a while and change our team.

2?? From that experience, I realized it's crucial to have a strong team behind you if you want to run a successful business.

3?? In July 2019, we restarted with a new Bitcan(.pl) crypto exchange, which later became Ari10. It was really challenging work to overcome the obstacles we met. Finding the balance between what we could and couldn't do was difficult.

4?? Navigating the gray area was tough at that time because there were no clear AML rules. The regulations were being built during our business journey, so we had to adapt continuously.

5?? It was really hard work for the people engaged in the company, and we faced many surprises we hadn't thought about when starting our business journey.

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