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CEDA: Crypto and Economic Development Authority

Introduction

The Office of the Marshall Islands Cryptocurrency and Economic Development Authority (CEDA) is a government agency responsible for overseeing the country’s national cryptocurrency and regulating the cryptocurrency industry. This article provides an in-depth look at CEDA, its mandate, and its role in the development of the Marshall Islands’ economy.

Mandate of CEDA

CEDA was established to provide a regulatory framework for the cryptocurrency industry in the Marshall Islands. The agency is responsible for registering and licensing cryptocurrency businesses, as well as monitoring and enforcing compliance with relevant laws and regulations. In addition to regulating the cryptocurrency industry, it is also tasked with promoting economic development in the country. This includes attracting foreign investment, promoting entrepreneurship, and creating job opportunities for Marshallese citizens.

Regulatory Framework OF CEDA

CEDA has developed a comprehensive regulatory framework for the cryptocurrency industry in the Marshall Islands. This framework includes provisions for the registration and licensing of cryptocurrency businesses, as well as rules for the issuance and use of the Sovereign (SOV), the country’s national cryptocurrency. The agency also monitors and enforces compliance with anti-money laundering and counter-terrorism financing regulations.

Registration and Licensing

All cryptocurrency businesses operating in the Marshall Islands must register with themand obtain a license to operate. The registration process involves submitting detailed information about the business, including its ownership structure, business model, and source of funding. Once registered, businesses must comply with ongoing reporting requirements and submit to periodic audits by CEDA.

Issuance and Use of SOV by CEDA

They oversee the issuance and use of the Sovereign (SOV), the Marshall Islands’ national cryptocurrency. The SOV is intended to serve as a legal tender alongside the US dollar, which is currently the country’s official currency. The issuance of the SOV is subject to strict rules and regulations, and the cryptocurrency is designed to be used for a variety of purposes, including payments, investments, and savings.

AML/CFT Compliance

CEDA is responsible for monitoring and enforcing compliance with anti-money laundering (AML) and counter-terrorism financing (CFT) regulations in the cryptocurrency industry. The agency works closely with the Financial Intelligence Unit (FIU) and other government agencies to detect and prevent illicit activities. Such as money laundering, terrorist financing, and other forms of financial crime.

Promoting Economic Development

In addition to its regulatory role, CEDA is also tasked with promoting economic development in the Marshall Islands. This includes attracting foreign investment, promoting entrepreneurship, and creating job opportunities for Marshallese citizens. The agency works closely with other government agencies and private sector organizations to identify opportunities for economic growth and development.

Attracting Foreign Investment

CEDA plays a key role in attracting foreign investment to the Marshall Islands. The agency promotes the country as an attractive destination for blockchain and cryptocurrency businesses. Highlighting its favorable regulatory environment and strategic location in the Pacific region. CEDA also provides support and assistance to foreign investors. Helping them navigate the regulatory landscape and establish operations in the country.

Promoting Entrepreneurship

CEDA is committed to promoting entrepreneurship in the Marshall Islands. The agency provides training and support to local entrepreneurs. Helping them start and grow businesses in the cryptocurrency and other sectors. CEDA also works closely with educational institutions to develop curricula and programs that support entrepreneurship and innovation.

Creating Job Opportunities

CEDA’s efforts to promote economic development in the Marshall Islands have led to the creation of new job opportunities. The agency works closely with the private sector to identify employment opportunities in the cryptocurrency and other sectors. CEDA also provides training and support to local workers, helping them acquire the skills and knowledge needed to succeed in the new economy.

Lower Your Carbon Footprint with Crypto

Lowering Your Carbon Footprint by switching from Cards to Crypto? With the rise of cryptocurrencies, concerns over their environmental impact have also arisen. This has led to the development of alternative methods of cryptocurrency mining, such as proof of stake (PoS), which are often touted as being more environmentally friendly than traditional proof of work (PoW) mining. In this blog post, we will explore why PoS crypto transactions are more environmentally friendly than standard card payments.

What is Proof of Stake and how does it help with lowering your carbon footprint?

Proof of stake (PoS) is a method of validating transactions on a blockchain. Proof of work (PoW) mining, is where miners compete to solve puzzles to add a new block to the blockchain. PoS mining involves validators who hold a stake and are chosen to add new blocks based on the cryptocurrency held. This process requires significantly less energy consumption and therefore has a lower carbon footprint.

Energy Consumption

One of the most significant advantages of PoS mining is its low energy consumption. According to research by the University of Cambridge, Bitcoin’s annual energy consumption is estimated to be around 130 TWh. In contrast, Ethereum, a PoS blockchain, uses approximately 45 TWh per year. This reduction in energy consumption is due to the fact that PoS mining doesn’t require the computational power of PoW. This means that PoS networks have a much lower carbon footprint, making them a more environmentally friendly option than PoW networks.

In contrast, traditional card payments require significant amounts of energy to process. According to a report by the New York Times. A single VISA transaction requires around 0.2 kWh, which is equivalent to leaving a 60-watt light on for 20 minutes. This energy consumption is due to the fact that traditional payment processing involves a complex network of intermediaries, each of which requires energy to operate. In contrast, PoS transactions involve a direct transfer of funds between two parties, without the need for intermediaries.

Renewable Energy

Another advantage of PoS mining is that it is more compatible with renewable energy sources. Renewable energy sources such as solar, wind, and hydro power are becoming increasingly popular as a way to reduce carbon emissions. PoS mining requires significantly less energy consumption than PoW mining, making it more compatible with renewable energy sources. This is because renewable energy sources are often intermittent, meaning that they are not always available. In contrast, traditional PoW mining requires a constant and reliable source of energy, which makes it less compatible with renewable energy sources.

Traditional card payments, on the other hand, rely on a complex network of intermediaries, each of which requires energy to operate. This means that the energy consumption of traditional payment processing is not easily compatible with renewable energy sources. However, some companies such as VISA and Mastercard are taking steps to reduce their carbon footprint by investing in renewable energy sources.

E-Waste

E-waste is a significant environmental concern, particularly when it comes to electronic devices such as computers and smartphones. Traditional PoW mining requires significant amounts of computational power, which means that miners need to continuously upgrade their equipment to keep up with the network. This leads to a significant amount of e-waste as old equipment is discarded.

In contrast, PoS mining doesn’t require as much computational power, which means that validators can use less powerful equipment. This leads to less e-waste as equipment can be used for a longer period before becoming obsolete. Additionally, PoS mining doesn’t require specialized hardware like PoW mining does, which means that the equipment used for PoS mining can also be used for other purposes, reducing the overall amount of e-waste.

Low Budget Advertising with Snipesearch Adclicks: A Cost-Effective Alternative to Google Ads

Advertising has always been crucial for the growth and success of any business. However, advertising can be an expensive proposition, especially for small businesses and start-ups. As a result, many businesses with a low budget have been struggling to keep up with their marketing efforts. Fortunately, Snipesearch Adclicks has emerged as a game-changer in the advertising industry, providing a cost-effective alternative to Google Ads. In this blog post, we will explore how companies with a low budget can use it to advertise from either 1 cent PPC or 1 cent per thousand impressions and how it can help them save money compared to using Google Ads.

What is Snipesearch Adclicks?

Snipesearch Adclicks is a PPC and CPM advertising platform that allows businesses to advertise their products and services to a large audience. It is an alternative to Google Ads, offering similar features and benefits at a fraction of the cost. The Service was launched on November 13th, 2013, making it an established player in the advertising industry. It has already gained popularity among small businesses and start-ups looking for cost-effective advertising solutions.

Text, Banner, Image, or Interstitial Marketing?

Snipesearch Adclicks offers various types of advertising formats, including text, banner, image, and interstitial marketing. Text ads are similar to Google’s search ads, where businesses can bid on relevant keywords to display their ads on relevant search engine results pages. Banner ads are image-based ads that appear on the top, bottom, or side of a webpage. Image ads are similar to banner ads but can be larger and more attention-grabbing. Interstitial ads are full-page ads that appear between two pages of a website or app.

How Does Snipesearch Adclicks Compare to Google Ads?

One of the most significant advantages of Snipesearch Adclicks is its affordability. With a minimum bid of 1 cent per click or 1 cent per thousand impressions, Snipesearch Adclicks is significantly cheaper than Google Ads, where the average CPC can range from a few cents to several dollars. The cost difference is enormous, especially for small businesses with a limited budget. Businesses can get more clicks or impressions for the same amount of money, making their advertising budget stretch further.

Why is Snipesearch Adclicks Good for Start-Up Businesses?

Start-up businesses often have a tight budget and cannot afford expensive advertising campaigns. Snipesearch Adclicks provides an affordable alternative for such businesses to reach a larger audience and increase brand awareness. By offering a cost-effective solution, they allow start-up businesses to compete with larger companies that have more significant advertising budgets. This level playing field is a significant advantage for smaller businesses that can now reach a larger audience with their limited budget. They also offer a free $5 credit on sign up with no purchase obligation.

Advertisements from All Legal Industries

Another significant advantage of Snipesearch Adclicks is that it allows advertisements from all legal industries. Unlike Google Ads, which has a strict policy on the types of ads it allows, Snipesearch Adclicks is more inclusive, allowing businesses from all industries to advertise their products and services. This inclusivity means that businesses that may have been excluded from advertising on other platforms can now reach a broader audience and increase their chances of success.

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This review was accurate at the time of publication. 05-04-2023

Gambling Laws in The United Kingdom

Gambling has a long history in the United Kingdom, and it remains a popular activity today. However, with the rise of online gambling, regulations have become increasingly important to ensure that the industry is fair and safe for players. In this blog post, we’ll provide an overview of the gambling laws in the United Kingdom, including the key regulations and requirements for operators and players.

The Gambling Commission

The Gambling Commission is the regulatory body responsible for overseeing gambling in the United Kingdom. The Commission was established under the Gambling Act 2005 and has a wide range of powers to ensure that the industry is fair and transparent. Its main responsibilities include:

Issuing licenses to gambling operators
Enforcing compliance with regulations
Investigating and prosecuting illegal gambling activities
Providing advice and guidance to operators and players

Licenses

In order to offer gambling services in the United Kingdom, operators must obtain a license from the Gambling Commission. There are three main types of licenses available:

Operating license: This is required for any business that offers gambling services to consumers in the United Kingdom, including online operators and land-based casinos.
Personal license: This is required for individuals who hold positions of authority within a gambling business, such as directors or managers.
Premises license: This is required for land-based gambling businesses, such as casinos and betting shops.

Gambling Laws and Regulations

The Gambling Commission has a set of regulations that all licensed operators must comply with. These include:

Age verification: Operators must verify the age of their customers before allowing them to gamble. This can be done using a variety of methods, such as ID checks and credit reference agencies.
Anti-money laundering: Operators must have measures in place to prevent money laundering. Such as KYC (know your customer) checks and reporting suspicious activity.
Responsible gambling: Operators must have policies and procedures in place to promote responsible gambling. Such as self-exclusion schemes and limits on deposits and stakes.
Advertising and marketing: Operators must ensure that their advertising and marketing is not misleading or targeted at vulnerable individuals. Such as children or those with gambling problems.
Technical standards: Operators must meet technical standards to ensure that their games are fair and transparent, and that customer data is secure.

Penalties for non adherence to Gambling Laws

The Gambling Commission has the power to investigate and prosecute operators who breach regulations. Penalties can include fines, suspension or revocation of licenses, and even imprisonment. In addition, the Commission can take action against individuals who hold personal licenses. Such as directors or managers, if they are found to have breached regulations.

Player Protection

In addition to regulating operators, the Gambling Commission also has a responsibility to protect players. The Commission provides advice and guidance to players, as well as access to dispute resolution services if they encounter problems with an operator.

One of the key tools for player protection is the self-exclusion scheme. This allows players to voluntarily exclude themselves from all gambling activities for a set period of time, usually between six months and five years. Operators are required to offer self-exclusion as part of their responsible gambling policies.

Another tool for player protection is the GamStop scheme. This is a free service that allows players to self-exclude from all online gambling operators licensed by the Gambling Commission. Once a player has registered with GamStop, they will be excluded from all participating operators for a set period of time.

Gambling Laws Conclusion

The gambling laws in the United Kingdom are designed to protect players and ensure that the industry is fair and transparent. The Gambling Commission has a wide range of powers to enforce regulations and investigate illegal activities. Operators must comply with a set of regulations, including age verification, anti-money laundering, responsible gambling, advertising and marketing, and technical standards. Penalties for breaching regulations can include fines, suspension or revocation

Increasing Conversions with the Good Business Commission

The number one goal for any online business is increasing conversions. It does not matter if you are an information site, and you desire sign ups. It doesn’t matter if you are a resale website trying to sell a product. Even service-based business, it’s all about conversions.

A trustworthy formation is how you get a bank to work with you. Furthermore SEO is how you get search engines to notice you, and on page trust is how you get customers to convert. In a previous post we looked at how a Rommie seal increases conversions by letting customers know your site is being monitored. While in this post we will look at how you can work towards increasing conversions with a free membership with the Good Business Commision.

Who are The Good Business Commission (GBC)? Why will using them help with increasing conversions?

Good Business Commission (GBC) is a provider of accreditations and certifications to businesses. GBC certifies, verifies and accredits a variety of businesses, from small firms to large manufacturing enterprises. Therefore, the GBC seal logo is widely recognized by consumers and instils trust and confidence in the business displaying it.

The Good Business Commision provide you with a seal that demonstrates your registration. When the seal is clicked it will show a certificate that shows your community trust rating from A – F. Also, on this page users can read and write reviews about the experience they had with you.

Allowing a public review system, similar to trust pilot on your site, shows an instant reliability with the brand. This greatly increases conversion. Furthermore, GBC is well known online so it’s not like any old badge. Also, as an advantage to you the badge simply shows that you are being monitored not the rank. So, this means if you are an A – C the badge will just show you passed! That is unless clicked on.

Registration is free at FREE Trust Seal | Create Account (goodbusinesscomm.com) so its worth considering a membership for your site.

Gambling Law in the Czech Republic

Gambling Law in the Czech Republic allows for a broad range of online and offline gambling options. The Gambling industry however is highly regulated, with a number of regional requirements you need to fill if you want your gambling site to be accessible there. While Gambling permits are likely to have high bars for entry for licencing, it may seem as though this would be an obstacle. However regulation of a gambling site ensures safety for both the site owner and visitor. Being in an established country in the European union is good for site trust.

Gambling is defined in Czech law in Section 3 of Act No. 186/2016 on gambling (the Gambling Act).

Furthermore, The Gambling Act separates things into Eight types of gambling described below. If a game doesn’t fit any of the requirements bellow is strictly prohibited (even if it fits the general definition). Therefore, operators need to make sure that their games either fall into one of these eightcategories. Or do not satisfy the general definition (e.g. no bet involved or a skill-based game); otherwise, they risk non-compliance.

Games as Defined in Gambling Law in the Czech Republic

Lottery	A number-based cash prized lottery (instant draw lottery inclusive).
Odds betting	A game where a win is subject to guessing the outcome of an event. The prize is determined based on the likelihood of winning, also known as odds.
Totalisator game	This is the same as an odds-based game except the prize is based on a percentage of the money wagered, divided among all the people who correctly placed the odds.
Bingo	A game where winning is subject to achieving the full pattern of numbers on the ticket. The pattern is marked off by the better based on the randomly drawn numbers that are called out, neither the number of the betters nor the pay-outs are determined in advance.
Small-size tournament	A knockout style card game tournament, where the number of the game participants has been agreed in advance and the total deposits by each gambling participant in one tournament does not exceed 500 koruna per 24 hours.
Technical game	A game operated through a device directly made available to the player (such as, slot machines, electromechanical roulettes and electromechanical dice).
Live game	A game in which the players play against the house or one another at the live game tables, the number of betters and bets in a round of betting are not pre-determined.
Raffle	A game where wins are determined based on a draw that includes only the tickets that were sold.

How additional acts are viewed in Gambling Law in the Czech Republic

A free prize draw is close to a ‘consumer lottery’ in traditional Czech law. Because of this it is subject to additional conditions deriving from consumer protection laws, these types of games will be permissible. The Gambling Act itself does not limit consumer lotteries because they are considered a business practice (See: Directive 2005/29/EC), they are basically not considered gambling. While Pool betting is the same as totalisator games and, is allowed.

Gambling Policy

Gambling is allowed under the Gambling Act. Every person who applies for a gambling licence can obtain it, as long as the regulatory requirements are met. Although, individual municipalities may decide to restrict gambling within their city limits. Although, Municipalities were given the ability to restrict physical locations, they have no influence on the operation of online gambling.

Offshore gambling

When it was written one of the intentions of the Gambling Act was to give the Ministry a way of stopping offshore gambling operators from offering their services to Czech citizens. When this came into force the Ministry was granted the power to place a gambling operator without a Czech licence. Therefore this means if you want your site to be available to Czech Citizens you will need a Czech formed company and a Czech issued licence. Once blacklisted, payment and internet connection providers are obligated to block payments and internet connections to such entities.

Related Laws

The relevant gambling legislation in the Czech Republic is as follows:

Act No. 186/2016 on Gambling, which sets out the basis for gambling legislation;
Act No. 187/2016 on Gambling Tax, specifying the gambling tax obligations of gambling operators (tax rate, tax calculation, tax period, etc.);
Act No. 280/2009 the Tax Code, which covers all tax-related proceedings (gambling, income, VAT, etc.);
Act No. 500/2004 on the Administrative Code, specifying the rules for administrative proceedings (e.g., licencing, emplacing on the blacklist);
Act No. 586/1992 on Income Tax;
Act No. 40/2009 the Criminal Code (operation of unlicensed gambling constitutes a criminal offence);
Act. No 40/1995 on Regulation of Advertising;
Act No. 253/2008 the Anti-Money Laundering Act; and
individual decrees issued by municipalities restricting gambling within their city limits.

This article serves as a basic introduction to Czech gambling regulations, studying the finite regulations is highly involved and while it is important you take the time to understand as much of them as you can, it is advisable to find a good Czech lawyer versed in the industry to help you stay on course. Therefore, We assume no legal liability should you attempt to navigate business operations using our blog as your legal reference.

How a Rommie Site Seal Increases Trust.

What’s the point of a Rommie site Seal? Over the years security seals, badges and guarantees have been a way to show customers your site is safe. At first glance a Rommie Rank seal appears to be little more than a top site badge. So how is Rommie different and why would it instil trust?

Rommie’s Site Rank system is a Manually edited traffic rank system. you sign up and install the tracking code. The Rommie team run a free site audit, the site is valued, scanned for malware and approved into the network. Users click on your badge and see some basic traffic analytics and check your latest valuation or virus scan results. If a scan hasn’t been completed recently, they click update from the SiteValue Link and a full test is rerun. The updated scan will include new virus scans, reviews and backlinks.

Users can rate your site and leave feedback. Rommie does not persecute based on industry. Many site ranking or safety tools will automatically mark a site as Not trustworthy simply because of the industry, but Rommie actually checks! Which means when someone sees a Rommie badge on your site they can see you haven’t Bought notoriety. You have earned your badge for free by allowing your site to be legitimately monitored.

You Can’t Buy a Positive Rommie Site Seal Rank

While paid for bundles are available on Rommie none of these affect the badges votes, or the sites rank and Value. The only things that matter in your Rommie rank is your site is safe, secure and customers talk about it in a positive way.

Whether or not your site was incorporated by us or you have your own website already. Whether it’s a personal blog an e-store or and Adult site, you can sign up at //rommie.net for free monitoring today.

Rommie has been designed with the idea of a safer, fairer internet. This increases users Trust.

New Gambling Legislation in Germany

New gambling legislation in Germany makes it easier to start online casinos. Prior to 2020 setting up an online gambling business in Germany was problematic. Gambling was regulated at Both a state and national level. While land based Casinos, sports betting and horseracing were allowed, but previously casino games were only allowed in Schleswig-Holstein. Its important to note states did and continue to have a monopoly on lotteries .

As of July 2021 the new German Interstate Treaty on Gambling went into force. This sees Germany expanding into one of Europe’s biggest economy. While Germany had been working on this legislation for quite some time. Whether or not economic losses due to the COVID pandemic led to the acceleration of its execution, is something that has been highly speculated.

The new Gambling legislation recognises four categories of betting products:

Online Casino Table Games
Virtual Slots
Online Poker
Sports Betting

What restrictions exist in the new Legislation?

Virtual slots and online poker have the most relax approach with open licencing models. The states have final say on Casino table Games like roulette and baccarat. While sports betting licences are still issued but have new in play gambling restrictions. Sports betting, poker and Virtual slot machine license can be valid for up to 5 years. Whereas Casino Table Games Licences are Valid for up to 7. The number of licenses available will correspond to the number of land-based casino license holders in that state.

Advertising Restrictions.

Advertising for sports betting is not allowed during sports events. This particular restriction is similar to the UKGCs whistle-to-whistle ban in the UK. However in addition to this restriction sportsbooks cannot advertise in the period leading up to the game. Advertising of online casinos, slot and poker games is prohibited between 6am and 9pm.

This is a fairly loose outline of the new legislation and of course if you plan to start a gambling company in Germany you will need to look at the specific licence criteria for your business model… But of course we can help you with that.

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