EU agrees on MiCA regulation to crack down on crypto and stablecoins

Officials from the European Union (EU) have agreed on a landmark law that will make life tougher for crypto issuers and service providers under a new single regulatory framework.  Stefan Berger, European Parliament member and rapporteur for the MiCA regulation — the person appointed to report on proceedings related to the bill — broke the news on Twitter saying that a “balanced” deal had been struck, which has made the EU the first continent with crypto-asset regulation. MiCA Trilog: Durchbruch! Europa ist der erste Kontinent mit einer Krypto-Asset Regulierung. Parlament,…

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Chainalysis tips Australia will crack down on misleading crypto ads

Chainalysis’ head of international policy Caroline Malcolm expects Australia’s new rules governing crypto advertising, promotion and consumer safeguards to follow a similar path to the United Kingdom when they come into place within the next year.  “I think we’re more likely to see something along the lines of the UK model which is really focusing on a crackdown on misleading advertising or advertising which doesn’t present the risks alongside the opportunities.” During the Chainalysis Links event in Sydney on June 21, Malcolm told Cointelegraph that this meant treating crypto products…

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Solana price up 50% in two weeks, but here’s why $120 will be hard to crack

Solana (SOL) continued its two-week uptrend on March 30, rising in part owing to its integration with OpenSea, the world’s biggest nonfungible token (NFT) by volume. SOL price rises to multi-week highs SOL’s price gained 4.5% in the past 24 hours to around $117 per token, its best level since Feb. 11, 2022. The coin’s latest move upside pushed its two-week paper returns to over 50%. Nonetheless, SOL/USD is still down 30% on a year-to-date timeframe, risking pullback as the price tested its 200-day exponential moving average (200-day EMA; the blue wave)…

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Bitcoin fails to crack $39K on Wall Street open as markets await Fed inflation decision

Bitcoin (BTC) began to show fresh volatility as Wall Street trading began on March 15, ahead of a crucial interest rate announcement from the United States Federal Reserve. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Crunch time for the Fed on inflation Data from Cointelegraph Markets Pro and TradingView highlighted a roughly $500 fall for BTC/USD after failing to reclaim $39,000 on the day. An overnight push towards $40,000 had ended in disappointment for bulls, setting the scene for lackluster performance into the Fed decision. With inflation running wild, analysts believed…

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Indian government looking to crack down on crypto scams with proposed ban: Cashaa CEO

Kumar Gaurav, founder and CEO of cryptocurrency exchange Cashaa, believes the Indian government’s latest efforts to regulate digital currencies are more of an attempt to prevent illicit activities in the industry rather than outright ban crypto. According to a bulletin released by the Parliament of India on Friday, the governing body will be considering a bill intended to “prohibit all private cryptocurrencies” while also creating a regulatory framework for a digital rupee issued by the Reserve Bank of India, or RBI. The central bank announced last week that it would…

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Multiple DeFi mainstays crack top 20 in long-awaited ‘Great Repricing’

Hardcore decentralized finance (DeFi) adherents woke up today to a long-awaited sight on Coingecko’s top 100 rankings by marketcap: native tokens for popular DeFi platforms Synthetix and Aave have cracked into the top 20, an event DeFi observers have heralded as “The Great Repricing.” DeFi investors, users, and builders have long argued that the sector writ large is wildly undervalued relative to other cryptocurrency projects given DeFi’s growing userbases, cash flows from protocol fees, and soaring levels of activity compared to “zombie chain” layer-1 networks scattered throughout the top of…

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Wrapped Monero launches as exchanges crack down on privacy coins

Crypto custodian BTSE has launched an ERC-20 token that represents Monero (XMR) on the Ethereum blockchain, giving investors new exposure to the privacy-centric coin.  Represented by the ticker symbol WXMR, Wrapped Monero is intended to bring greater liquidity to the DeFi ecosystem. The new asset is fully backed by Monero at a ratio of one-to-one and is secured by BTSE. In a press release that was shared with Cointelegraph, BTSE said WXMR “gives holders of Monero more flexibility to utilize their tokens without having to sell it for Ethereum or…

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Biden and Yellen will crack down on crypto ‘criminal cesspool’ — Nouriel Roubini

Bitcoin (BTC) naysayer Nouriel Roubini believes that incoming U.S. president Joe Biden will go much further than Donald Trump in controlling cryptocurrency. In a fiery Twitter debate on Dec. 24, Roubini, who is known for both his dislike of crypto and his ability to call market bottoms by mistake, called the sector a “cesspool.” Roubini to pro-Bitcoin lawyer: “You are delusional” Roubini was responding to Jake Chervinsky, a lawyer studying the fallout from the recent news that U.S. lawmakers were demanding that stablecoin payments implement on-chain Anti-Money Laundering and Know-Your-Customer…

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Morpher Labs attempts to crack knotty prediction market problems

On August 31, 2020, Morpher Labs announced the launch of its flagship Ethereum-based contract trading and prediction market platform, Morpher, with the stated goal of providing users unlimited access to long-and-short trades of real-world stocks, commodities, and FOREX markets.  The technical obstructions of such a goal, however, have historically proven tricky to navigate.  In a recent interview with Cointelegraph, Morpher Labs CEO Martin Forehler explained that Morpher’s vision is to allow worldwide access to asset classes that normally have multiple barriers in the form of geographical restrictions, middlemen, and steep…

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How US authorities are using old AML tools to crack down on crypto

The ease of laundering money in the U.S. before 1970 boggles the mind. Prior to the Bank Secrecy Act (BSA) of that year, there were no federal standards for banks to keep records on activity that fell under the category of “suspicious.” There were also no consistent reporting requirements — it was the BSA that established the $10,000 threshold that stands to this day. But it’s not like the BSA banished money laundering from U.S. shores. It wouldn’t even be until 1986 that money laundering was classified as a federal…

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