Detailed EU Crypto Rules, Tokenized U.S. Treasurys, and More
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Detailed EU Crypto Rules, Tokenized U.S. Treasurys, and More
Here are the top news in the crypto and blockchain world this week:
EU Securities Agency Issues First Batch of Detailed Crypto Rules Under MiCA Law
In a bid to ensure better governance and security in the crypto sector, the European Securities and Markets Authority (ESMA) issued a set of detailed proposals for crypto companies' authorization within the EU, marking the first use of new powers under the Markets in Crypto Assets (MiCA) law. The proposals provide guidelines for crypto firms on handling user complaints and managing conflicts of interest. Learn more
Tokenized U.S. Treasurys Surpass $600M as Crypto Investors Capture TradFi Yield
Crypto investors are increasingly turning to tokenized U.S. Treasurys as the yield on government bonds surpasses yields in decentralized finance (DeFi). The market value of blockchain-based products that tokenize U.S. Treasury bills, bonds, and money market funds totals $614 million, according to RWA.xyz. Learn more
Exec Shares Process of Setting up a Business in Switzerland with Bitcoin
According to Pietro Poretti, director of the economic development division of Lugano, businesses can now set up in Lugano if they have a minimum of 100,000 Swiss Franc (CHF), about $116,000 USD in Bitcoin. This development comes as part of the city's goal to allow residents to live using only Bitcoin. Learn more
Europe’s First Spot Bitcoin ETF Eyes 2023 Debut After Year-long Delay
After a year-long delay caused by unprecedented market conditions, Europe’s first spot Bitcoin exchange-traded fund (ETF) by Jacobi Asset Management is set to debut later this year on the Euronext Amsterdam exchange. The asset manager received approval from the Guernsey Financial Services Commission (GFSC) to launch its Bitcoin ETF in October 2021. Learn more
Breaking: Ripple Wins Case Against SEC as Judge Rules XRP is Not a Security
Ripple Labs scored a significant victory when the United States District Court in the Southern District of New York ruled in favor of the company, stating that the XRP token is not a security. This judgment comes in response to a lawsuit filed by the Securities and Exchange Commission in 2020. The ruling sparked a surge in the price of XRP, jumping from $0.45 to $0.61. Learn more
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