|All Time High:|
|Market Cap: |
|The price of #SHFT today is $0.016 USD.|
The lowest SHFT price for this period was $0, the highest was $0.016, and the exact current price of one SHFT crypto coin is $0.01559.
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 ETH or other crypto coins.
|The code for Shyft Network crypto currency is #SHFT. |
Shyft Network is 1.5 years old.
|The current market capitalization for Shyft Network is not available at this time.|
Shyft Network is ranking upwards to #5822 out of all coins, by market cap (and other factors).
|There is a medium daily trading volume on #SHFT.|
Today's 24-hour trading volume across all exchanges for Shyft Network is $138,241.
|The total supply of SHFT is 86,625,479 coins.|
Kim Kardashian Slapped by the SEC With Over a $1M Penalty for an Unlawful Crypto Promotion
The SEC charged Kim Kardashian over promoting Ethereum Max tokens on Instagram as she failed to comply with the regulations on promoting financial products.Although Kim Kardashian did not accept or refute the charges, she has agreed to pay $1.26 million in fines.Speaking on the matter, the SEC Chair Gary Gensler said that investment products that influencers promote are not always right for investors. The U.S. Securities and Exchange Commission (SEC) brought charges against reality television star Kim Kardashian and slapped a $1.26 million penalty for failing to disclose payments she received for promoting a cryptocurrency on social media. Kardashian did not accept or refute the claims but has agreed to pay the fine and will also stop pushing crypto for three years, the SEC said in a statement on Monday. Relevant Article: SEC Head Honcho Gary Gensler Double Downs on Demand for Strong Crypto Regulations and Investor Protection — Why did the SEC File Charges Against Kim Kardashian? - If you didn’t already know, Kim Kardashian is among the most followed celebrities globally. At the time of writing this article, she had over 73 million Twitter followers and more than 331 million followers on Instagram. Such massive popularity often translates into a fair share of promotional opportunities, including in the crypto space. So, Kardashian, too, received such promotional opportunities for posting about various cryptocurrenci...
Veriscope Regulatory Recap — September 26th to October 2nd
Veriscope Regulatory Recap — September 26th to October 2nd - Welcome to another edition of Veriscope Regulatory Recap! We have brought some of the hottest news from the world of crypto regulations this week, from the Bank of England Governor’s statement on bringing digital assets under the existing financial regulatory framework to Paraguayan lawmakers rejecting the president’s veto of the crypto bill. So, let’s dive straight into it. — BoE Deputy Governor Wants Existing Financial Regulations to Extend to Crypto. — Image Source Jon Cunliffe, deputy governor of the Bank of England, said financial regulations should be extended to cryptocurrencies before the industry becomes large enough to potentially threaten broader financial stability during the Operations, Post Trade, Technology, and Innovation Conference in London.“Regulators need to begin extending existing standards and regulatory regimes to crypto before, not after it becomes systemically important,” Cunliffe said. “And done carefully, the development of regulatory regimes helps, not hinders, innovation by reducing the risks of confidence destroying crashes and by giving innovators a framework within which to innovate.” Despite flagging these risks, Cunliffe also praised the underlying technology, saying that even bigwigs like HSBC are investing and experimenting in it due to its potentially game-changing impact on banking operations....
Japan to Enforce Travel Rule in 2023
The conversation on implementing FATF Travel Rule has been ongoing since March this year, when Japan’s national financial authority instructed local exchanges to begin complying with it.To make the FATF Travel Rule legally enforceable in the country, a draft amendment will be introduced in parliament’s national diet session on October 3rd, 2022.Once the proposed amendment is approved, crypto exchanges will have to comply with the Travel Rule from May 2023. Japan is planning to enact new rules along the lines of the FATF Travel Rule to prevent the illicit use of cryptocurrencies, such as money laundering and terrorism financing. As per local media outlet Nikkei, the aim is to implement the said law by May 2023. A draft amendment will be introduced in Japan’s parliament during the diet session on October 3 to make it happen. The discussions around sharing customer information with government authorities have been ongoing with the virtual asset exchanges since March this year. This was the time when Japan’s Financial Services Agency (FSA) instructed the country’s virtual asset exchanges to begin complying with the FATF Travel Rule. So, before we dive deeper into it, let’s look at what the FATF Travel Rule actually means. Relevant Article: The White House Launches a Comprehensive Framework for Crypto Assets — What is the FATF Travel Rule? - The Financial Action Task Force (FATF), an intergovernmental polic...
Coinfirm Integrated Into Veriscope, Shyft Network’s Market-Leading Travel Rule Compliance Provider
LONDON, United Kingdom — RegTech leader Coinfirm has been integrated into Shyft Network’s Veriscope, a market-leading Travel Rule product. Shyft Network is a public protocol designed to power data discoverability and compliance into blockchain while preserving privacy and sovereignty. Facilitating the transfer of verifiable data between centralized and decentralized ecosystems, Shyft Network sets the highest crypto compliance standard and provides the only frictionless Crypto Travel Rule compliance solution on the blockchain while ensuring user data is protected. Veriscope, powered by the Shyft Network — Coinfirm’s partner firm — is a blockchain-based regulatory compliance tool for VASPs (Virtual Asset Service Providers) that need to be Travel Rule compliant. In order to protect customer data, VASPs transfer their data directly, meaning that Veriscope does not store any PII (Personally Identifiable Information) information itself and only facilitates the transfer of encrypted data.“Veriscope’s integration partnership with leading blockchain analytics provider Coinfirm allows participating VASPs to perform wallet screening in connection with travel rule transactions, creating an improved compliance experience for both VASPs and their end users” — Zach Justein, Veriscope co-founder. The Travel Rule, imposed by the FATF (Financial Action Task Force), states that VASPs and other crypto entities a...
California Governor Vetoes Crypto Bill, Citing its Rigid Nature
California’s crypto bill, officially known as Assembly Bill 2269, aimed at enforcing crypto licensing and regulatory framework in the state, was vetoed by Gov. Newsom.The proposed bill faced no objection from the opposition in the assembly.Gov. Newsom believes that the bill is too rigid and is unlikely to safeguard consumers due to the fast-moving nature of the crypto industry. In a major setback to the crypto industry, California Governor vetoed Assembly Bill 2269, popularly referred to as the crypto bill in the state. The bill’s intended purpose was to grant operational licenses to crypto firms currently operating in California and make it mandatory for any company planning to offer crypto products & services in the state. Surprisingly, the bill moved to the Governor for approval after facing no opposition in the assembly. That said, Gov. Newsom does have his reasons behind his decision to veto the bill. Relevant Article: SEC Head Honcho Gary Gensler Double Downs on Demand for Strong Crypto Regulations and Investor Protection — The Reason Behind the Veto - Governor Newsom believes that the proposed bill fails to incorporate the fast-moving nature of the crypto ecosystem and its underlying technology. Instead, the bill adopts a rigid licensing and regulatory framework, which fails to take consumer safety into account.He notes, “It is premature to lock a licensing structure in statute without considering ...
Veriscope Weekly Regulatory Recap:
September 19 to September 26 Welcome to another edition of Veriscope Regulatory Recap! A lot to cover this week, from Indonesia’s plan to turn on the heat against crypto exchanges to the US Treasury’s open call for public comments on crypto regulations. So, without further ado, let’s dive straight into it. — Indonesia Introduces New Stricter Rules for Crypto Exchanges - Indonesia is preparing to tighten the regulation of digital asset exchanges, officials from the country’s Minister of Trade and the Commodity Futures Trading Regulatory Agency (Bappebti) said at a parliamentary hearing in Jakarta.Under the revised regulatory framework, two-thirds of directors on digital trading platforms must be Indonesian citizens residing in the country. “That way, at least we can prevent the top management from fleeing the country if any problem arises,” Didid Noordiatmoko, acting head of Bappebti, told parliament. Crypto exchanges will also be required to use a third party to store client funds and prohibited from re-investing stored crypto assets. Deputy Minister of Trade Jerry Sambuaga said Bappebti would be issuing new rules soon but didn’t give a specific timeframe. He also confirmed that the government is still planning to launch a crypto bourse, which has been delayed several times this year. — EU Finalizes Legal text for Crypto Regulations, Covering Stablecoins & NFT - The European Union has report...
The White House Launches a Comprehensive Framework for Crypto Assets
With its comprehensive framework for crypto assets, the White House called for a “more aggressive push by regulators to take on fraud in the sector.”The White House also urged authorities to double down on their efforts to develop the “Digital Dollar,” as it will significantly benefit the country’s financial sector.The Secretary of the US Treasury, Janet Yellen, that if all the risks that digital assets pose are dealt with, the industry will offer significant opportunities. The White House has released a first-of-its-kind framework in the US for the “responsible development” of digital assets as 16% of adult Americans own crypto, and its global market capitalization reached $3 trillion at its peak. Although the user numbers may have come down from the peak, it still holds strong despite the crypto winter, ready to surge again with growing adoption of Web3, DeFi, and NFTs.The framework calls for a “more aggressive push by regulators to take on fraud in the sector,” based on its nine reports that make recommendations on protecting consumers, investors, financial stability of businesses, the environment, and national security. — The White House’s Concerns - Amid Russia Ukraine war, the White House was particularly concerned about sanctioned individuals and entities turning to digital assets to circumvent the sanctions. On top of that, an increasing number of crypto hacks and rug pulls and a considera...
Crypto Bill Introduced in Uruguay’s Parliament: What You Should Know?
The bill aims to clarify the country’s regulatory scenario for crypto assets.It proposes to establish the country’s central bank as the regulatory authority over cryptocurrencies.The proposal needs approval from the Chamber of Deputies and its Senate to be enacted into law. The executive branch of Uruguay has submitted a bill to Congress that aims to clarify how crypto-related activities will be regulated in the South American country. The bill will give the country’s central bank legal powers to regulate cryptocurrencies if approved.(Image Source) The bill is currently awaiting approval by both the Chamber of Deputies and the Chamber of the Senate for it to become law. — Virtual Assets Categorization - The document refers to virtual assets as securities and categorizes them into four types: tradable assets, stablecoins, governance tokens, and debt tokens. On top of that, the bill proposes to create a new category of companies for virtual asset service providers (VASPs). It further seeks to amend the organic charter of the Central Bank of Uruguay (BCU) and put VASPs under the supervision of the central bank entity, the Financial Services Superintendence (SSF).SSF will ensure that malicious elements do not use crypto assets to bypass the country’s anti-money laundering (AML) and counter-terrorism financing (CFT) safeguards. Speaking of AML & CFT safeguards, Uruguay hasn’t yet adopted the FATF Travel Rule...
Veriscope Regulatory Recap (September 12th — September 18th)
Veriscope Regulatory Recap (September 12th — September 18th) - Welcome to another exciting edition of Veriscope Regulatory Recap! In this week’s edition, we look at the recent crypto regulation guiding principles published by Abu Dhabi FSRA to the White House’s first-ever digital assets regulatory framework. So, without further ado, let’s dive straight into it. — Abu Dhabi FSRA Publishes Crypto Regulation Guiding Principles - (Image Source) In its new guidelines that define six key principles on which its approach would be built, the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market Free Economic Zone (ADGM) defined its regulatory approach to virtual asset activities.The agency highlighted four “risk drivers” that need heightened focus, one of which relates to the obligations of virtual asset custodians, even when they contract out work to external parties. There will also be an emphasis on technology and governance controls that businesses use. The FSRA also plans to examine whether companies adhere to legal obligations when exchanging virtual assets, particularly to ensure that laws intended to safeguard virtual asset investors, such as disclosure requirements, are being followed.As such, the new guide reaffirms the FSRA’s dedication to providing a strong, transparent, and consistent regulatory framework for companies engaging in virtual asset activities, prosecuting regu...
SEC Head Honcho Gary Gensler Double Downs on Demand for Strong Crypto Regulations and Investor…
SEC Head Honcho Gary Gensler Double Downs on Demand for Strong Crypto Regulations and Investor Protection - Gary Gensler, the current SEC Chairman, rejected the notion that current securities law is incompatible with the crypto market.The SEC Supremo also asked crypto intermediaries such as crypto exchanges to register with them as securities exchanges and broker-dealers.He also supported giving regulatory authority over the crypto industry to the CFTC when it comes to nonsecurity tokens. Gary Gensler, the Chairman of the US Securities and Exchange (SEC), is yet again calling for crypto regulation. A “vast majority” of crypto are securities issued to the public in violation of federal laws, he said at the Practicing Law Institute. “These are not laundromat tokens. Promoters are marketing, and the investing public is buying most of these tokens, touting or anticipating profits based on the efforts of others,” highlighted Gensler. — Can Securities Law be Extended to Cryptocurrencies?. — Many in the crypto industry have been calling for a new set of rules designed particularly for crypto assets due to existing securities law being unsuitable.Gensler completely rejected that notion saying, “Nothing about the crypto markets is incompatible with the securities laws.”(Image Source)It is important to point out here that the SEC officials, both current and former, have reiterated multiple times that most crypto...