Driving Use Cases for Crypto currency for beginners and Lowering the barriers to entry for the crypto arena has the potential to promote a continued mindset shift to legitimize and de-stigmatize digital currencies. Despite the technology’s earlier reputation as a tool to facilitate malicious activity and black-market commerce, Feroz noted that industry solution providers are eager to help businesses play by the rules. “I think what a lot of us in the industry are striving to do is to build an environment where businesses operate in a fully compliant fashion with all applicable laws,” he said. Already, there is mounting evidence that crypto is shedding its notoriety. Feroz highlighted the proliferation of central bank digital currencies (CBDCs) as a key example of how governments are increasingly willing to experiment with the technology for a variety of use cases, including cross-border and B2B payments. Non-fungible tokens, better known as NFTs, are another exciting application that Feroz said represents the opportunity for crypto to transform concepts like digital —
and, eventually, physical — asset ownership and transferability. One of the most dramatic signs that cryptocurrencies are taking on new meaning for corporate finance and treasury professionals, in particular, is the interest in holding crypto on the books. Treasurers are now looking toward bitcoin and other cryptocurrencies to hedge against perceived inflation resulting from the U.S. government’s money-printing initiatives amid the pandemic. “It’s interesting to see that an asset that traditionally has been quite volatile has, in some cases, now been seen as a hedge against inflation,” Feroz said, adding that only a few years ago, this development would not have been something he could imagine happening so soon in crypto’s history. With B2B, B2C and government use cases of crypto expanding, more businesses with creative business models and use cases for the technology can see less resistance to their ideas. With the appropriate technology partners in place that support the infrastructure and compliance needed to bring those ideas to life, crypto companies can add even more momentum to turning crypto mainstream. “We’re in a pretty exciting time for crypto. There has been a lot of big milestones the space has achieved,” Feroz said. “And I’m not talking about price — I’m talking about perception and utility.”
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to the imposition of requirements by the FCA, Binance Markets Limited is not currently permitted to undertake any regulated activities without the prior written consent of the FCA,” read the statement. “No other entity in the Binance Group holds any form of UK authorisation, registration or licence to conduct regulated activity in the UK,” the statement siad. Binance said the FCA notice would have no “direct impact” on the services it provides from its website Binance.com, reports BBC.