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Produced by Daniel Aharonoff & Mogul Media AI

Kaito and the Rise of the InfoFi Sector

The Rise of the InfoFi Sector: Exploring Kaito and the Data Attention Economy In a world increasingly driven by data, the emergence of the InfoFi sector marks a pivotal moment in the evolution of finance and information technology. As traditional models face disruption, platforms like Kaito are pioneering a new frontier, harnessing data attention to reshape how value is created and exchanged. What is InfoFi? InfoFi, or Information Finance, encompasses a range of technologies and services that leverage data as a core asset. This sector aims to unlock the value of data by creating ecosystems where users are compensated for their attention and engagement. The InfoFi model stands in contrast to traditional financial systems, which often prioritize institutional interests over individual contributions. Key Components of the InfoFi Model User Engagement : Platforms like Kaito reward users for their participation, turning attention into a tradable commodity. Data Ownership : Users...
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Produced by Daniel Aharonoff & Mogul Media AI

EU's Anti Money Laundering Package: Impact on Crypto Firms' Due Diligence

The EU Council and Parliament have reached a provisional agreement on aspects of an anti-money laundering (AML) package that will impact the crypto sector. This agreement will enforce stricter due diligence requirements on crypto firms, aiming to enhance transparency and combat illicit financial activities. Here are the key points of the provisional agreement:

Stricter Due Diligence Requirements

  • Crypto asset service providers (CASPs) will need to conduct due diligence on customers involved in transactions of €1,000 or more.
  • Enhanced due diligence will be required for cross-border correspondent relationships to mitigate risks.
  • Businesses must identify and verify individuals conducting occasional cash transactions between €3,000 and €10,000.

Measures to Mitigate Risks

  • The rules will address risks related to transactions with self-hosted wallets.
  • An EU-wide maximum limit of €10,000 for cash payments aims to deter money laundering activities.

This provisional agreement is part of the EU's sixth Anti Money Laundering directive and the EU single rulebook regulation. Lead MEP Luděk Niedermayer highlighted the importance of closing existing loopholes and ensuring quick and effective data processing in the digital age. If approved by the European Parliament, these rules will be formally adopted and published in the EU's Official Journal. The ongoing efforts to regulate the crypto sector, including the recent Markets in Crypto Assets (MiCA) legislation, demonstrate the EU's commitment to establishing a unified regulatory framework across its member states.

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