After weeks of deliberation, the EU parliament is set to vote on its major crypto regulation today. The proof-of-work clause which was removed because of its impact on major cryptocurrencies found its way back into the regulation ahead of the vote. A move that may lead to a ban on Bitcoin and other major cryptocurrencies in EU states.
The blockchain space may look like an established market due to the commonly reached 2 trillion dollar market cap, but the industry is still very much in its infancy. Reasons being are the lack of regulation, lack of uniformity and development of Web3, and delay in interoperability between chains.
Following the departure of star Defi and crypto developer Andre Cronje. The Fantom Foundation released a statement to address what they believe to be misinformation surrounding Cronje’s departure.
A former employee of the Canadian government has been arrested and extradited to the United States. The employee is reportedly a person of interest in a string of ransomware attack cases. U.S. Department of Justice officials also seized cryptocurrency payments from said attacks worth some $28 million.
Recently, blockchain payments startup Basqet announced the launch of its cryptocurrency payment gateway which will allow businesses to accept Bitcoin and other cryptocurrencies as payment. Basqet said it is launching a public beta and will be going live with 118 businesses already signed up to start accepting payments in Bitcoin and several other cryptocurrencies.
A recently released facts sheet has provided details on President Joe Biden’s Executive Order regarding digital assets and the cryptocurrency industry. The policy is said to trigger full-scope crypto regulatory infrastructure within the U.S. and re-enforce America’s dominance as a global leader in finance
The US president Joe Biden is supposed to release the executive order on digital assets today Wednesday. But, it seems we have a sneak peek into the order and what to expect from it.
Singaporean subsidiary of Swiss crypto bank receives regulatory approval to offer more virtual asset services within the Southeast Asian country. The green light has been given in principle and is yet to take full effect.
This situation in Russia seems to have forced the hands of both the US and European authorities to hasten their proposed regulation of cryptocurrency. Now, we are expecting regulations from the US and Europe within this week and the next.
A senior Democrat senator has called for American regulators to consider more crypto-friendly regulatory policies rather than champion rigid laws and intense crackdowns on the burgeoning industry of digital assets. The comments come months after SEC official Gary Gensler likened crypto to the wild west.
Nothing should be considered investment or financial advice. Enjoy the ride!
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