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Celsius Network to Manage Funds for United Nations Initiative

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The Celsius Network has become a founding member of the SDG Impact Fund within the United Nations’ Sustainable Development Goals initiative.

Decentralized lending and borrowing platform Celsius Network will manage the Sustainable Development Goals Impact Fund (SDG Impact Fund) within the United Nations Sustainable Development Goals initiative, according to a press release published September 21.

The Sustainable Development Goals is an international program focused on bringing a “better and more sustainable future for all.It addresses global challenges such as poverty, inequality, climate change, environmental degradation, prosperity, and peace and justice. The initiative aims to achieve a series of targets by 2030.

Per the announcement, the SDG Impact Fund will be launched by financial services firm Fifth Element with the aim to raise several hundred million dollars and deploy them in both fiat and digital format using a public blockchain. The fund will purportedly be the first to accept and operate all forms of crypto and digital assets in compliance with the UN Sustainable Development Goals.

Within the partnership with Fifth Element, Celsius Network is reportedly looking to “bring power back to the peopleby providing banking services typically reserved for top tier asset owners. Celsius CEO Alex Mashinsky said thatby offering earned interest rates up to 7.1 percent, we allow individuals to make the same passive income Wall Street has been making for years.Scott Stornetta, adviser to Celsius, commented:

“We see a great opportunity to use this technology to deliver the value collected by different U.N. organizations in a more precise and effective way to the people and organizations that need it most.

In February the United Nations International Children’s Emergency Fund (UNICEF) embraced cryptocurrency by starting a charity drive for Syrian children, asking PC gamers to use their computers to mine Ethereum (ETH) and donate their earnings. Later in April, UNICEF Australia also announced an initiative that allows users to give their computer’s processing power to mine cryptocurrency for charity.

Home Crypto News France Finalizes New ICO Framework to ‘Attract Innovators Globally’
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France Finalizes New ICO Framework to ‘Attract Innovators Globally’
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France Finalizes New ICO Framework to ‘Attract Innovators Globally’

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The French government has approved a legal framework for ICOs made to protect contributors.

France’s Minister for the Economy and Finance has announced that the government has accepted an article of the Business Growth and Transformation bill (PACTE) dedicated to Initial Coin Offerings (ICO), according to a tweet posted Wednesday, September 12.

As finance Minister Bruno Le Maire states, the French stock markets regulator Autorité des marchés financiers (AMF) is now empowered to give licenses to companies that want to raise funds via an ICO, with the legislation aiming to help protect contributorsinterests.

Le Maire also hopes that the current legal framework for ICOs in France will “attract investors from all over the world.

According to the PACTE project published by the National Assembly (lower party of the French parliament), prior to any token issuances, a company must apply for a license from the AMF providing detailed information on the offer and issuer. The measures will provide additional guarantees for ICOs, which AMF had previously considered risky.

France’s President Emmanuel Macron has historically been bullish on emerging innovative technologies, last year proposing to convert France into astartup nation.Later in 2018, in line with Macron’s words, Le Maire introduced his PACTE bill, which aims to transform and innovate the French economy, in March stating France was ready for a “blockchain revolution”.

This year, France has also seen changes in rules surrounding crypto taxation, though in a more stringent direction. As Cointelegraph reported in May, the French Council of State clarified the specifics of Bitcoin taxation in France to move the tax for Bitcoin trading from a progressive taxation (between 14 and 45 percent) to a fixed taxation of 19 percent.

In terms of the wider European context, as Cointelegraph reported earlier this month, European Parliament members held a meeting with blockchain experts on ICO regulation in early September.

Later Belgian think tank Bruegel released a report that called for unified legislation on cryptocurrencies in the EU and more scrutiny on how they were distributed to investors.

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