Cryptocurrency Analysis and News Portal
Officials with the European Union have signed the Markets in Crypto-Assets, or MiCA, bill into law following final approval from finance ministers.On May 31, Sweden’s minister for rural affairs, Peter Kullgren, and European Parliament President Roberta Metsola signed the long-anticipated cryptocurrency regulatory framework into law roughly three years after the
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MiCA will enter into force in a few weeks after being published in the EU’s official journal, which is likely in June. Its provisions – offering crypto exchanges and wallet providers a license to operate across the 27-nation bloc, and requiring stablecoin issuers to hold appropriate reserves – will take
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Last week, almost all the key markets for digital assets in Asia got updates from local regulators. Lawmakers in Japan have decided to enforce stricter Anti-Money Laundering measures to trace cryptocurrency transactions from June 1. According to reports, a vital feature of the new measures is the enforcement of the “Travel
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Lawmakers recently called for the Bill to take effect within two months. Source
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A final compromise appears to allow registered crypto firms to advertise through social media influencers, potentially easing industry fears. Source
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Japan's crypto industry has been grappling with the travel rule since 2021 when Japan’s Financial Services Agency (FSA) requested virtual asset services providers to implement it. In April 2022, Japan's Virtual Currency Exchange Association (JVCEA) introduced self-regulatory rules accordingly. In October last year, Japan's government approved a cabinet decision to
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MiCA requires crypto firms such as wallet providers and exchanges to seek a license to operate across the bloc, and stablecoin issuers to hold suitable reserves. Its main features were politically agreed in June, but it’s been subject to administrative hold-ups. Major provisions take effect just over a year after
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Last week was harsh for the United States Securities Exchange Commission (SEC), with industry figures and officials publicly criticizing the regulator. May 8 was the deadline for feedback on the SEC’s proposed custody rule, and there was feedback aplenty. Andreessen Horowitz’s general counsel Miles Jennings called the proposal a “misguided and
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Jeremy Kauffman, LBRY's founder has previously said this case could impact the wider crypto industry as the company maintained that LBC was not a security. Ripple Labs has a similar defense as it faces SEC charges for the sale of $1.3 billion in XRP tokens. Source
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Florida Governor Ron DeSantis signed a bill restricting the use of central bank digital currencies (CBDCs) in the state, according to local news sources. The governor urged state lawmakers in March to draft the bill. The new law prohibits the use of a United States federal CBDC “as money within Florida’s
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