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Reddit’ NFT minting hits new highReddit’s nonfungible token (NFT) collection hit another milestone on Dec. 3 with a record 255,000 of its “avatars” minted in the one day.The new minting record beat the previous all-time highs on Aug. 30 and 31, which saw just over 200,000 Reddit avatars minted each
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MiCA broadly allows the practice, but, compared to other EU financial service laws, includes stronger powers for supervisors to stop solicitation being abused - including an ad ban for unauthorized products. However, the detailed ground rules need to be set by the European Securities and Markets Authority (ESMA), which has
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“I wouldn’t comment on individual cases, but generally speaking, the industry has many signs of weaknesses across all key functions,” said Steffen Kern, head of ESMA’s risk analysis and economics department, citing poor management and failures to segregate client funds. “MiCA, had it been in place, would have been extremely
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The European crypto industry has broadly welcomed the regulatory recognition, even if there are some qualms over the restrictions it places on the use of stablecoins, crypto assets that seek to maintain their value with respect to fiat currencies, as well over uncertainties about whether the rules will apply to
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All crypto payments from Russians to European wallet providers will be forbidden under the measures. Source
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“Imagining a scenario in which a large retailer would enable crypto-assets as a payment option, or a leading tech company would introduce crypto-asset based peer-to-peer payments, consumer exposure could soar in a short period of time, strengthening the link” between the crypto and conventional financial realms, the document said. Source
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"Similar design features would have to be applied to the use of a digital euro by non-residents. This would stop a digital euro replacing other forms of investment and facilitating currency substitution in countries outside the euro area," Fabio Panetta, an ECB executive board member, said in a 2021 speech.
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A compromise deal that would see the use of many stablecoins limited to 1 million transactions per day is “quite a good end result,” because it will only capture real-world payments rather than trading activity, Patrick Hansen, Crypto Venture Advisor at Presight Capital, told CoinDesk in an online interview. That
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Lawmakers and governments had reached agreement on the main outline of the legislation, which requires crypto asset providers to register with regulators in to offer services across the bloc, on June 30. But in the absence of a final legal text there is still considerable uncertainty on the law's finer
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EU national governments felt that including NFTs in MiCA would be an unjustified extension of a bill originally designed to protect investors in stablecoins and initial coin offerings. But lawmakers from the European Parliament, who also had to sign off on the legislative deal, were more hawkish, arguing the NFT
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