emilywi6ly

@emilywi6ly

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The system, announced on Jan. 21, is the first blockchain-based dispute resolution platform for bug bounties — open calls for developers to review a project’s code for vulnerabilities, prevent hacks and earn rewards.

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Immunefi, a blockchain security firm, launched the world’s first legally binding blockchain dispute resolution system, which may set a precedent for more blockchain-based legal applications.

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The TON Foundation’s new president, Manuel Stotz, highlighted the role of the exclusive partnership with Telegram as an important step in its roadmap.

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The other transitional measure is a simplified authorization procedure, which targets entities already authorized under national applicable law on Dec. 30 to provide crypto asset services, it said.

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Among MiCA transitional measures, ESMA mentioned the “grandfathering” clause. The clause allows entities providing crypto asset services in accordance with national applicable laws before Dec. 30, 2024, to continue to do so until July 1, 2026, or until they are granted or refused a MiCA authorization.

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According to official information from ESMA, EU member states will have the option of implementing “transitional measures” that would allow entities already providing crypto asset services under applicable law in their jurisdictions to continue doing so during the transitional phase of MiCA.

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While MiCA’s implementation phase ends on Dec. 30, 2024, there is also a transitional 18-month phase in MiCA’s total 36-month timeline.

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As of Dec. 27, USDT trading continues on many crypto exchanges operating in Europe, including Binance EU and Crypto.com, Cointelegraph has learned. The exchanges did not comment on whether they plan to delist USDT in the EU in the near future.

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Cointelegraph approached ESMA for a comment regarding the USDt status under MiCA but did not receive a response at the time of publication.

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Online reports suggest that Tether USDt (USDT) will stop trading across Europe after Dec. 30, 2024, as shown in the screenshot below.

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A spokesperson at ESMA then said that the regulator was working with market participants and other stakeholders to address stablecoin-related issues presented in MiCA.

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In October 2024, the European Securities and Markets Authority (ESMA) — a key supervisor of MiCA compliance — declined to tell Cointelegraph whether USDt was seen as a restricted stablecoin under MiCA.

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While some publications like Bloomberg said that European crypto exchanges must delist Tether’s USDt by Dec. 30, European regulators have not given such guidance by the time of writing.

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At the time of Siluanov’s warning, Bitcoin was hitting all-time highs above $76,000 and was heading toward a historic milestone of $100,000 smashed in just about 30 days.

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“Definitely not. Today, there are plenty of other ways to invest and make good money,” Siluanov stated.

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“Some people see cryptocurrency as a source of quick money. I don’t recommend it as a means of investment,” the minister stated in a speech at a local educational event on Nov. 6.

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Siluanov’s latest remarks on DFAs and Bitcoin come a few weeks after the finance minister urged the public to stay away from crypto investment in November.

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The finance minister mentioned that Russia legalized mining earlier this year. “That is why such transactions are going. We say that they need to be developed and expanded, and I am sure that next year, it will be a reality,” he added.

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Siluanov said Russia is free to use digital financial assets — including Bitcoin — in foreign trade, in line with its experimental legal regime, which came into force in September 2024.

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It’s an innovation in the global settlement system, he said, adding, “That is the future.”

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