Web3 Social Takes a Leap Forward & EU’s MiCA Crypto Law Countdown Begins
GM, crypto fam ☕️
Rise and grind, it’s time to HODL your coffee cups and DUMP that sleepiness because we’ve got some hot crypto news coming your way.
Coming up today: We’re about to dive into the world of Web3 social and EU’s new crypto law.
So, let’s get this crypto party started! Remember, in crypto, the early bird gets the Bitcoin!
Web3 Social Leaps Forward with Lens Protocol’s $15M Funding
The Dawn of Web3 Social
In a world where social media platforms are as common as meme coins, Lens Protocol is just killing it!
They’ve just bagged a cool $15M to build the future of Web3 social.
You might wonder, “What’s the difference between Web2 and Web3 social platforms?”
Well, on the surface, not much. But under the hood, it’s a whole new game.
Your Data, Your Rules
Web3 social platforms built on shared protocols like Lens let you own your username, photos, videos, text posts, messages, followings, and data.
And the best part? It’s all transferable between apps.
Imagine IG, TikTok, YouTube, and Snapchat having to pay you to access your data.
And if you don’t like what they’re doing, you can take your followers and content and leave. Talk about power to the people!
The Catch: Pay to Post
But here’s the catch: you need to pay a tiny fee for each post you make on a social platform built on Lens.
Convincing folks to switch to a paid version of something that’s usually free? That’s a challenge.
But as the concept gets funded, we’re excited to see how Web3 social will evolve.
EU’s MiCA Crypto Law Countdown Begins
MiCA is Coming
The European Union (EU) has officially started the countdown for the implementation of the Markets in Crypto-Assets (MiCA) law.
Scheduled to take effect from December 30, 2024, this legislation aims to establish a consistent regulatory framework for crypto assets across EU member states.
Unified Market Environment
The crypto community is applauding this legislation for creating a unified market environment throughout Europe, ensuring consistent regulatory requirements and operational procedures.
From registration and authorization prerequisites for cryptocurrency issuers, exchanges, and wallet providers to specific security and risk mitigation criteria for stablecoin issuers, MiCA has got it all covered.
Preventing Market Abuse
Moreover, the legislation establishes a framework to prevent market abuse, insider trading, and manipulative behavior within the cryptocurrency space.
While the US is grappling with regulatory action against Binance and Coinbase, the EU is taking a step forward with MiCA.
And with that, we close another edition of GOAT News! If you found this news interesting, pass it onto your friends and help us build a more informed crypto community 🐐
And if you haven’t yet, hit that follow button on our Twitter to stay updated with the latest crypto trends 🐦
And last but not least 👀,
👉 Hop onto my TikTok account for a dash of fun and a heap of GOAT-sized shenanigans
With The GOAT Daily News, you’re always ahead of the game. Stay woke, and stay informed!
GOAT out ✌️
