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Wistaverse is a platform that has been designed to enable virtual protests in the metaverse. Built as a decentralized public good, the platform is politically neutral and accessible to all, providing and facilitating a safe space for individuals to voice their opinions and engage in immersive events with their communities.Wistaverse provides a viable alternative for those who are unable to participate in real-life protests and enables any cause to gain global support and raise decentralized funding during events. Individuals can express their messages and show solidarity with a cause through the use of avatars and digital tools such as signs, banners, and wearables.Wistaverse's first protests will take place in The Sandbox Game, the Largest metaverse to date which boasts over 4.5 million active users. The first protest Arena is versatile and ready for event organizers to use, ensuring that each protest is unique and tailored to the specific cause being supported.Wistaverse is also developing its own standalone metaverse application Which is set to be ready in summer 2024.Built on Polygon, The WI$TA token powers the Wistaverse experience. Participants will be able to help their cause raise funds via donations in WI$TA during protests. For each event, the sale of avatars and other purchasable items within the ecosystem will help raise additional funds for the cause. Wistaverse will allow community members to use their voting power to amplify donations using the treasury funds which is continuously filled by a 0.5% tax on all transactions.

Wistaverse (WISTA) is a cryptocurrency launched in 2023. WISTA has a current supply of 42.00M with 0 in circulation. The last known price of WISTA is 0.0020039042 USD and is -0.000034139837 over the last 24 hours. It is currently trading on active market(s) with $9,874.33 traded over the last 24 hours. More information can be found at https://www.wistaverse.com/.

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Updated Jul 18, 2024 9:44 am
Mkt Cap $0
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Hong Kong Stablecoin Regulatory Consultation Summary: "Sandbox" Participants to be Announced; Issuers Must Set 100% Reserves; Providing Interest to Users is Prohibited
Hong Kong Stablecoin Regulatory Consultation Summary: "Sandbox" Participants to be Announced; Issuers Must Set 100% Reserves; Providing Interest to Users is Prohibited
The Hong Kong Treasury and the HKMA yesterday released a consultation summary on the legislative proposal to implement a regulatory regime for issuers of fiat stablecoins in Hong Kong. The vast majority of respondents agreed that there is a need to introduce a regulatory regime for issuers of fiat stablecoins to properly manage potential monetary and financial stability risks and provide transparent and appropriate regulations. The Treasury and the HKMA will finalize the legislative proposal to implement the regulatory regime in response to the opinions and suggestions of the respondents and submit the draft bill to the Legislative Council as soon as possible; the HKMA is also processing the "sandbox" application of stablecoin issuers and will announce the list of participants in the near future. According to the consultation, most respondents support the total value of the reserve assets of fiat stablecoins and the requirement to maintain full reserves at all times. Some respondents raised the potential difficulties of real-time reconciliation and the need to replenish the reserve assets from time to time to ensure that the market value of the reserve assets is at least equal to the face value of the fiat stablecoins in circulation. The authorities responded that insufficient reserve assets may prevent stablecoin users from redeeming all stablecoins at face value, leading to bank runs, and believed that the circulating fiat stablecoins must be fully supported by reserve assets at all times. In the future, licensees of fiat stablecoins will need to demonstrate to the Monetary Authority that they have measures in place (such as excess reserves) to comply with the requirements. In addition, the consultation paper proposes that the issuer's minimum paid-up share capital should be at least 2% of the total amount of fiat stablecoins in circulation, or HK$25 million, whichever is higher. Some respondents believe that it is difficult to maintain sufficient capital in a timely manner based on the circulation of fiat stablecoins. The authorities will change the minimum paid-up share capital requirement to HK$25 million, or 1% of the circulation of its stablecoins, whichever is higher. The Monetary Authority still retains the flexibility and power to impose additional capital requirements when necessary. It is worth noting that many respondents provided opinions on the sale of fiat stablecoins issued outside Hong Kong, and some respondents suggested that the sale of fiat stablecoins issued outside Hong Kong to retail investors could be allowed under regulatory criteria or due diligence. The authorities responded that many fiat stablecoins are currently not regulated by any regulatory system, and the potential risks of stabilization mechanisms and public use may cause concern. If other jurisdictions have established equivalent systems, the authorities will consider establishing a formal regulatory cooperation mechanism, such as mutual recognition or a "passport" arrangement. In addition, the authorities still prefer to maintain the establishment of a physical company in Hong Kong as one of the licensing criteria. The HKMA also pointed out that there is no prohibition on issuers from providing promotional offers, but issuers are not allowed to arrange with third parties to provide interest to users of fiat stablecoins. (Ming Pao)
Jul 18, 2024 9:36 am

Frequently Asked Questions

  • What is the all-time high price of Wistaverse (WISTA)?

    The all-time high of WISTA was 0 USD on 1970-01-01, from which the coin is now down 0%. The all-time high price of Wistaverse (WISTA) is 0. The current price of WISTA is down 0% from its all-time high.

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  • How much Wistaverse (WISTA) is there in circulation?

    As of , there is currently 0 WISTA in circulation. WISTA has a maximum supply of 42.00M.

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  • What is the market cap of Wistaverse (WISTA)?

    The current market cap of WISTA is 0. It is calculated by multiplying the current supply of WISTA by its real-time market price of 0.0020039042.

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  • What is the all-time low price of Wistaverse (WISTA)?

    The all-time low of WISTA was 0 , from which the coin is now up 0%. The all-time low price of Wistaverse (WISTA) is 0. The current price of WISTA is up 0% from its all-time low.

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  • Is Wistaverse (WISTA) a good investment?

    Wistaverse (WISTA) has a market capitalization of $0 and is ranked #9999 on CoinMarketCap. The cryptocurrency market can be highly volatile, so be sure to do your own research (DYOR) and assess your risk tolerance. Additionally, analyze Wistaverse (WISTA) price trends and patterns to find the best time to purchase WISTA.

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