This report will provide some essential and quick news about the cryptocurrencies happening worldwide.
1) Coinbase to Terminate USDC Rewards in Europe Due to MiCA
New stablecoin regulations are now in effect, more than a year after the European Union implemented the Markets in Crypto-Assets (MiCA) regulations. The new regulatory regime necessitates that crypto companies modify their operations. For the majority of them, this entails the termination of services for European users…[continue reading]
2) China abandons Bitcoin reserve ambitions and buys gold after 6-month pause
China’s apprehension regarding the crypto industry has once more surfaced. The People’s Bank of China (PBOC) has today disclosed official data that the central bank resumed gold purchases for its reserves in November. This action was suspended for six months following the precious metal’s record-high prices…[continue reading]
3) UK’s top financial regulator says Pump.fun doesn’t have license to operate
Pump.Fun has been in a lot of trouble with the most important financial authority in the United Kingdom because they did not have a license to do business with clients in that country. The United Kingdom’s Financial Conduct Authority issued a warning on December 3 stating that Pump.fun is not regulated by them and “may be targeting individuals in the UK.” That warning was published…[continue reading]
4) FDIC requested banks ‘pause’ crypto activities
In a FOIA action against the US Federal Deposit Insurance Corporation (FDIC), court papers indicated the regulator instructed certain financial institutions to halt crypto banking. The US District Court for the District of Columbia revealed redacted “pause letters” from FDIC officials to US bank boards of directors on Dec. 6…[continue reading]
5) Trump Appoints Crypto Czar David Sacks to Lead AI and Blockchain Policies
Donald Trump made another significant appointment in the AI and tech sector after Bitcoin reached the $100,000 milestone. He appointed David Sacks, a former COO of PayPal and a tech heavyweight, as his White House Artificial Intelligence (AI) and Cryptocurrency Czar. Trump appointed Paul Atkins, a prominent cryptocurrency advocate, to serve as the chairman of the Securities and Exchange Commission (SEC) just one day prior to this announcement…[continue reading]
6) El Salvador continues to acquire one Bitcoin each day
Arkham Intelligence data indicates that the El Salvadoran government has maintained its “1 Bitcoin a day” investment strategy, amassing a total of 5.955K BTC in its portfolio. El Salvador President Nayib Bukele was “delighted” by the fact that Bitcoin’s price surpassed $100,000 in the early hours of Thursday…[continue reading]
7) India’s Top Crypto Advocacy Group Expects Major Regulation
India leads the globe in grassroots crypto usage, but its crypto and Web3 regulatory structure is still developing. Dilip Chenoy, Chairman of the Bharat Web3 Association (BWA) and former Secretary General of the Federation of Indian Chambers of Commerce and Industry, discussed India’s growing virtual digital asset (VDA) ecosystem in an exclusive interview at India Blockchain Week 2024…[continue reading]
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