The MiCA regulation has set in motion a shift towards compliant stablecoins in the cryptocurrency market. With the implementation of MiCA on June 30, market makers are now favoring regulated stablecoins over non-compliant alternatives. According to a report by French blockchain analytics firm Kaiko, non-compliant stablecoins currently make up 88% of the total stablecoin volume.
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Bitcoin’s price has been stagnant since its peak in March, with many analysts pointing to the impact of tight U.S. monetary policy on the cryptocurrency market. According to CryptoQuant analysts, the tightening of monetary policy in the U.S. since March 2022 has led to a reduction in stablecoin supply, which has directly affected Bitcoin’s ability
Olubukola Akinwumi, the deputy director of the Central Bank of Nigeria (CBN), recently made allegations against cryptocurrency exchange Binance. According to Akinwumi’s testimony in a legal case brought by the Economic and Financial Crimes Commission (EFCC), Binance and its executive, Tigran Gambaryan, are being accused of conducting transactions that are typically reserved for authorized banks
In a recent statement on July 4th, the European Banking Authority (EBA) announced updates to their Travel Rule guidelines. This update now includes regulations for crypto service providers and intermediaries in the European Union. Starting on December 30, 2024, all crypto exchanges operating within the EU will be required to adhere to the Travel Rule
Taiwan Mobile, the second-largest telecom operator in Taiwan, has taken a significant step by applying for a license to operate as a Virtual Asset Service Provider (VASP). This move reflects the company’s efforts to break into the crypto market and integrate digital assets with mainstream services. The Financial Supervisory Commission’s latest report now lists Taiwan
The impending distribution of 142,000 BTC by the defunct crypto exchange Mt. Gox has significantly stirred market anxiety. This amount, representing 0.68% of the total Bitcoin supply, is slated for distribution among the creditors of the exchange, which ceased operations in 2014 due to a major hacking event. The distribution process has already seen large
DraftKings, a well-known online sportsbook operator, is currently facing legal challenges, including a lawsuit related to its NFTs. Recently, a US District Judge in Massachusetts made a ruling that denied DraftKings’ motion to dismiss a class action lawsuit concerning its NFTs. This particular decision has the potential to have widespread implications for how NFTs are
SBI Holdings, a notable financial services company based in Tokyo, Japan, has recently joined forces with Ripple to introduce an NFT minting service on the XRP Ledger for the upcoming World Expo 2025. This partnership aims to leverage blockchain technology to enhance the digital experience for Expo attendees. The initiative is part of the larger
Circle made a significant announcement on July 1 by revealing that it had secured an e-money license from France, solidifying its position as the premier global stablecoin issuer to adhere to the EU’s Markets in Crypto-Assets (MiCA) regulations. This license, granted by the Autorité de Contrôle Prudentiel et de Résolution (ACPR), the financial regulator in
In the rapidly evolving landscape of digital finance, the emergence of crypto assets has introduced unprecedented challenges and opportunities for regulators across the globe. One of the largest government bodies to tackle this issue is the European Union, which has implemented the Markets in Crypto-Assets regulation (MiCAR). However, a critical gap has emerged in the