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| Shyft Network 
| #SHFT
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| SHFT Price: | $0.000475 | | Volume: | $52.6 K | | All Time High: | $6.43 | | Market Cap: | — |
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| Circulating Supply: | — |
| Exchanges: | 3+
| | Total Supply: | 1,238,383,403 |
| Markets: | 3+
| | Max Supply: | — |
| Pairs: | 11
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The price of #SHFT today is $0.000475 USD.
The lowest SHFT price for this period was $0, the highest was $0.000475, and the exact current price of one SHFT crypto coin is $0.00047527.
The all-time high SHFT coin price was $6.43.
Use our custom price calculator to see the hypothetical price of SHFT with market cap of BTC or other crypto coins. |
The code for Shyft Network crypto currency is #SHFT.
Shyft Network is 3.9 years old. |
The current market capitalization for Shyft Network is not available at this time.
Shyft Network is ranking downwards to #2761, by market cap (and other factors). |
There is a modest volume of trading today on #SHFT.
Today's 24-hour trading volume across all exchanges for Shyft Network is $52,626. |
| The total supply of SHFT is 1,238,383,403 coins. |
Shyft Dev Deep Dive — October 2023
Shyft Dev Deep Dive — October 2023 - Welcome back to the Shyft Dev Deep Dive, where we spotlight the latest and most impactful developments in the Shyft ecosystem. In October, our commitment to enhancing User Signing for Private Wallets has been unwavering, building upon our foundations laid in September. For any queries or demo requests, we’re just an email away at veriscope@shyft.network. — User Signing for Private Wallets - Our efforts have been on further fine-tuning User Signing, a key component in ensuring seamless Travel Rule transfers for private, unhosted wallets. This feature will position Shyft Veriscope as the go-to solution for Travel Rule compliance, regardless of whether the wallet is hosted or unhosted. — What’s Next - Our commitment to developing a comprehensive Travel Rule Solution continues, adapting to meet the industry’s needs and challenges. — Shyft x Unocoin Partnership: A New Era of Compliance and Trust - A major development in October was our strategic partnership with Unocoin, one of India’s largest crypto exchanges. Under this collaboration, Unocoin will be a “Trust Anchor” within the Shyft Network, using Veriscope to comply with the FATF Travel Rule. They will establish a trust anchor account, assign unique Shyft Network addresses to user accounts, and actively participate in the Shyft Network ecosystem. This partnership marks a significant step towards enhanci... 
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Veriscope Regulatory Recap — 31st October to 13th November
Veriscope Regulatory Recap — 31st October to 13th November - Welcome to our latest Veriscope Regulatory Recap. In this edition, we dive into Turkey’s planned crypto regulations aimed at exiting the FATF grey list, the UK’s focus on stablecoins, New York’s task force on digital currencies, and the SEC’s call for clearer crypto rules. Let’s dive in! — Emerging Global Trends in Crypto Regulation - The landscape of cryptocurrency regulation is undergoing significant changes worldwide, with countries and regulatory bodies adapting to the evolving digital asset market. Turkey’s Regulatory Push: Turkey is moving towards introducing new legislation for crypto-assets. This step is aimed at strengthening anti-money laundering and counter-terrorist financing efforts. The nation’s goal is to exit the Financial Action Task Force’s (FATF) “grey list,” indicating its commitment to addressing strategic deficiencies in its financial systems. UK’s Stablecoin Focus: In the UK, the Financial Conduct Authority (FCA) and the Bank of England are seeking public feedback on their approach to regulating stablecoins. They aim to balance the potential benefits of stablecoins for faster, cheaper payments with the need to protect consumers and maintain financial stability.Image Source New York’s Exploratory Task Force: New York is proposing a task force to study the impacts of digital currency and blockchain industrie...
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Five Must-Have Attributes for Your Travel Rule Solution
The FATF Travel Rule makes it mandatory for VASPs, including crypto exchanges, digital wallets, custodial services, etc., to exchange specific customer data when transacting crypto assets above a predefined threshold. As more countries implement the Travel Rule, the onus is on VASPs to adopt solutions that adeptly manage detailed customer information exchanges — without slowing down transactions or infringing on user privacy. It’s a delicate balance, and the right solution must navigate these requirements deftly. This article will unpack the core attributes these solutions should have to equip VASPs for compliance in a way that aligns with the fast-moving nature of the digital asset industry. — Easy Integration - Travel Rule solutions must have a straightforward integration process within the diverse technological setups of VASPs. They should offer plug-and-play capabilities that require minimal adjustments to existing infrastructure, ensuring that different data formats, tech stacks, or protocols are harmonized effortlessly. Their aim should be to help VASPs meet their compliance obligations without the burden of significant system overhauls or operational downtime. — Highest Security and Encryption Standards - Travel Rule Compliance Solutions must empower VASPs to efficiently manage transactions with counterparts, in line with FATF Recommendation 16. These solutions must protect sensitive exchanged inform...
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Decoding FATF Travel Rule Solution Pricing: Your Ultimate Guide to Compliance Costs
For Virtual Asset Service Providers (VASPs), compliance with the FATF Travel Rule isn’t just about adhering to regulations — it’s also a significant operational consideration that impacts the bottom line. Travel Rule solutions come with a variety of pricing models, each with its distinct advantages and challenges. To simplify it, we have prepared this comprehensive guide that demystifies these models, providing VASPs with the insights needed to make informed decisions that balance cost with compliance. — Sign-up Fee + Annual Fee Model - In the sign-up fee plus annual fee model, VASPs pay an initial fee to gain access to the Travel Rule compliance service. After this initial payment, they are charged recurring annual fees that cover ongoing access to the service, including regular updates and customer support. Sygna Bridge, for instance, follows this model. It requires VASPs to pay an upfront fee for integration into their network, followed by an annual fee that provides ongoing compliance support and secure information exchange capabilities. Pros: Predictable annual budgeting due to fixed costs., Continuous access to compliance updates and support., Potentially lower costs for VASPs with high transaction volumes due to spreading the fee across numerous transactions., Cons: High initial sign-up costs can be a barrier to entry for smaller VASPs., Annual fees apply regardless of actual usage, which may not ...
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Shyft and Unocoin Team Up to Amplify User Trust and Crypto Compliance
We are delighted to announce a strategic partnership between Shyft Network and Unocoin, two pioneering companies in the cryptocurrency and blockchain ecosystems. This collaboration is aimed at leveraging Shyft Network’s groundbreaking identity verification and compliance protocols, along with Unocoin’s robust cryptocurrency exchange and services, to facilitate a more secure and compliant crypto environment. — Scope of Partnership - Shyft Network has developed Veriscope, a smart contract-enabled data coordination infrastructure designed to provide a global discovery and validation ecosystem. Unocoin will participate as a “Trust Anchor” within the Shyft Network to make use of Veriscope for the purpose of complying with the FATF Travel Rule. As part of this collaboration, Unocoin will create a trust anchor account, assign unique Shyft Network addresses to its user accounts, and be an active participant within the Shyft Network ecosystem. — The Road Ahead - This partnership symbolizes the intersection of innovation and compliance, reflecting our collective commitment to offering secure, efficient, and regulatory-friendly cryptocurrency services. By combining Unocoin’s market expertise with Shyft Network’s cutting-edge identity verification and compliance technologies, we aim to set a new standard for security and trust in the cryptocurrency space, not just in India but globally. We are genuinely excited t...
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Shyft Perspective on Best Travel Rule Solutions for VASPs: Comprehensive Comparative Analysis
With more and more countries implementing the FATF Travel Rule, it has become crucial to be prepared and choose a Travel Rule Solution that can meet all your needs. But that is easier said than done, as there are several Travel Rule Solutions available in the market today, each with its specific set of features and functionalities. In this analysis, we will juxtapose Veriscope’s features against other notable solutions in the market to provide a clearer picture of where each stands in addressing the challenges and needs of VASPs concerning Travel Rule compliance. — Decentralization - While Veriscope, Sygna, and TRUST all champion a decentralized approach, it’s Veriscope’s commitment to decentralization that truly stands out. By ensuring that its operations aren’t tied to a single point, Veriscope minimizes vulnerabilities and ensures data integrity. This decentralized foundation, when combined with its other robust features, positions Veriscope as a holistic solution in a decentralized ecosystem. — No Centralized Storage of PII - Veriscope, along with OpenVASP, VerifyVasp, TRP, TransactID, and Trust, places a high emphasis on user privacy. After all, in a world where data is the new gold, the decentralized storage of Personally Identifiable Information (PII) becomes pivotal. And by ensuring PII isn’t stored centrally, Veriscope greatly reduces the risks of data breaches, guaranteeing users a safer envir...
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Veriscope Regulatory Recap — 18th October to 30th October
Veriscope Regulatory Recap — 18th October to 30th October - Welcome to the latest Veriscope Regulatory Recap. In this issue, we’ll explore the US stance on cryptocurrency mixers, the UK’s new legislation on illicit crypto, Taiwan’s initial steps into crypto regulation, and Turkey’s progress on the crypto front. Let’s dive in! — Major Global Crypto Regulatory Developments Unveiled - The US: As regulatory scrutiny tightens, FinCEN is eyeing increased transparency measures for crypto “mixers.” The UK: Meanwhile, the UK has given royal assent to a bill that arms law enforcement with the power to seize crypto linked to crime. Introduced last September, the Economic Crime and Corporate Transparency Bill addresses a spectrum of crimes and enables asset seizure without a formal conviction. Taiwan: Amidst global regulatory shifts, Taiwan steps into the crypto regulatory arena with a bill presented to the Legislative Yuan. This draft legislation seeks to define operational standards and emphasizes industry affiliations. Notably, it flags potential divergences between crypto derivatives and traditional finance, hinting at tailored regulations down the line. Turkey: Positioned between Europe and Asia, Turkey is charting its regulatory course. Their recent Presidential Annual Program hints at a structured crypto framework by 2024, encompassing clear legal definitions and tax guidelines, though details are still...
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The Shyft Perspective: Demystifying Vitalik Buterin’s Privacy Pools Proposal
With cryptocurrencies entering the global financial scene, people have found themselves empowered with transactional privacy, something that was pretty much non-existent before. Crypto mixers, in particular, have played a crucial role here, as they are specifically designed to obscure transaction trails and protect user identities. While these mixers champion individual privacy, they’ve also attracted attention due to potential misuse, as evident from the handling of nearly 8% of all illicit crypto funds in 2022 through mixers. However, it’s essential to understand that the core issue isn’t the technology itself but its potential misuse. Amidst these concerns, the question arises: How do we champion the cause of individual privacy without giving a free pass to nefarious activities? It’s a delicate equilibrium, one that initiatives like privacy pools are striving to achieve. — What are Privacy Pools? - Privacy Pools, as conceptualized by Vitalik Buterin and four others, including Chainalysis chief scientist Jacob Illum, in their research paper, can be likened to secure digital lockboxes within the cryptocurrency universe. Much like a lockbox that safeguards valuable items, Privacy Pools protect transactional details while going a step further by allowing users to demonstrate the legitimacy of their transactions without unveiling the specifics. However, these pools aren’t just about maintaining anonymity. They...
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The Future of DeFi is Compliant, Secure, and Inclusive. Be a Part of It.
With the rapid rise of decentralized finance (DeFi), the landscape of the financial world is changing at an unprecedented pace. The promise of a decentralized future, where control and power are redistributed, is a vision that resonates with many. However, with the incredible potential of DeFi also come challenges, primarily around compliance, security, and the integration of traditional and decentralized systems. — Who Should Be Concerned? - If you’re a Virtual Asset Service Provider (VASP), a trader and a financial institution in both traditional and crypto markets, or simply a crypto enthusiast, this concerns you directly. The movement is fast, and staying abreast of changes and aligning with the right solutions is crucial. — A Mission We Can’t Achieve Alone - At Shyft Network, we’re committed to redefining this space with compliant solutions. Solutions that not only align with the principles of decentralization but also ensure the safety, security, and regulatory compliance required by the broader financial world. But we can’t do it alone. — Your Opinion Can Shape the DeFi World - This is your call to action. We want you, the stakeholders, to play an active role in shaping this future. By sharing your insights, concerns, and needs through our survey, you become an integral part of the solution, ensuring that our product not only serves the DeFi community but truly aligns with the broader ind...
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Veriscope Regulatory Recap — 3rd October to 17th October
Veriscope Regulatory Recap — 3rd October to 17th October - Welcome to the latest Veriscope Regulatory Recap. In this edition, we shed light on the G20’s move around crypto guidelines and how India is reacting to it, touch upon California’s new rules for crypto businesses, and see how Cyprus is aligning with Europe when it comes to crypto regulations. So, let’s dive right in. — Digital Asset Developments Dominate Global Regulatory Landscape - Global: The recent assembly in Marrakesh, Morocco, saw G20 nations embracing the “IMF-FSB Synthesis Paper: Policies for Crypto-Assets” as a foundational roadmap for crypto oversight.(Image Source) The paper underscores increased data sharing and collaboration among G20 nations. Following this guideline, India, a significant member and current president of the G20, is adjusting its stance on crypto, as indicated by the Secretary Of Economic Affairs. The paper outlines guidelines on crypto oversight, with a focus on cross-border collaboration and risk management frameworks. Within these frameworks, an emphasized component is alignment with the Financial Action Task Force’s standards, specifically aiming to curtail the misuse of crypto assets for illicit activities. In parallel, the International Monetary Fund’s recent working paper sets forth a risk assessment matrix for countries. This tool aims to spotlight potential sector vulnerabilities, streamlining the un...
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Crypto Coin Prices and News 