Ukraine’s President signs virtual assets bill into law, legalizing crypto
Ukrainian President Volodymyr Zelenskyy has signed a virtual assets bill into law, thus legalizing crypto in the country. Amidst Russia’s invasion, Ukraine has been receiving millions in digital asset donations to support its defense. The new law determines the legal status, classification, ownership, and regulators of virtual assets. It also sets registration requirements for crypto services providers.
The crypto market will be regulated by Ukraine’s National Commission on Securities and the Stock Market.
Crypto prices today: Bitcoin rises 3.2%, ETH up 4%
Bitcoin is currently trading at $40,805.6, a 3.2% increase over the previous day. Ethereum is up 4.2% over the last 24 hours to $2,753.5. Solana rose 5.4% to $87, while Cardano is trading higher by 4.7% at $0.84. Avalanche (AVAX) jumped 9.2% to $75.84. The global crypto market cap stands at $1.81 trillion, a 3.11% increase over the previous day.
Argentina cracks down on crypto with anti-money laundering rules
Argentina is set to include crypto firms in its wider anti-money laundering (AML) regulatory regime. Unidad de Información Financiera (UIF) is the country’s competent authority when it comes to regulating money laundering risks. As per reports, UIF is working on adding crypto firms to the list of entities subject to AML reporting requirements.
The Sandbox Metaverse token jumps 8% amid HSBC, Paris Hilton tie up
Multinational investment bank HSBC has become the latest corporate giant to enter the Metaverse through a partnership with The Sandbox. HSBC will acquire a plot of virtual real estate in the Sandbox metaverse to increase engagement and connect with sports, e-sports, and gaming enthusiasts. Paris Hilton also announced a partnership with The Sandbox, wherein the singer would appear as her voxel avatar.
Dubai grants Virtual Asset Licence to Binance for regional business
Dubai’s Virtual Asset Regulatory Authority (VARA) has granted a Virtual Asset Licence to crypto exchange Binance to conduct regional operations. Binance can extend limited exchange products and services to pre-qualified investors and professional financial service providers. The exchange will also anchor a blockchain technology hub in the Dubai World Trade Centre (DWTC).