European Union finalizes landmark crypto rules
The European Union (EU) has agreed upon the full legal text of its landmark legislation known as the Markets in Crypto Assets Regulation (MiCA). MiCA introduces the first-ever licensing regime for crypto wallets and exchanges to operate across the EU. It imposes reserve requirements on stablecoins as well. A separate law on funds transfers requires wallet providers to check their customer’s identities to curb money laundering.
Crypto prices today: Bitcoin down 0.2%, ETH up 1%
Bitcoin is currently trading at $20,224.76, a decline of 0.2% over the previous day. Ethereum is up 0.9% over the last 24 hours to $1,366.48. Solana fell 0.61% to $34, while Cardano is trading lower by 0.2% at $0.432. Uniswap (UNI) rose 3.3% to $6.88. The global crypto market cap stands at $966.87 billion, a 0.07% increase over the previous day.
Yuga Labs forms Bored Ape Community Council
Web3 powerhouse Yuga Labs has created a community council composed of seven Bored Ape Yacht Club (BAYC) NFT holders who are active in its community. The council members will focus on gathering and curating community feedback and spearheading philanthropic efforts. The council will be kept autonomous, meaning it will not be governed by the multibillion-dollar startup.
Russia blocks access to crypto exchange OKX
Russia has blocked access to OKX (the world’s third-largest crypto exchange by volume) at the request of the Prosecutor General’s Office. The site was blocked under article 15.3 of Russia’s law on Information, Information Technologies, and Information Protection. The article protects against the spread of fake information, threats to financial organizations, and calls for extremist activity.
S.Korea financial regulator restates support for crypto protections
South Korea’s Financial Services Commission (FSC) said it will promote blockchain technology and user protections in the crypto market. The agency will actively support the establishment of a regulatory system for virtual assets that balances innovation through new technologies such as blockchain, consumer protection, and financial stability.
