Earlier today, members of the European Parliament’s Committee on Economic and Monetary Affairs in the European Parliament voted against a version of the Markets in Crypto Assets, or MiCA, bill that could have effectively banned the proof-of-work-based cryptocurrencies within the EU. This comes as a huge relief for the crypto industry, whose representatives had previously warned about the threat of a hardline regulatory scenario. MiCA is a regulatory framework that contains 126 articles, as well as a detailed plan of their implementation by the EU’s and member states’ institutions. The draft was introduced by the European Commission back in 2020 …

Haven Protocol (XHV) showed signs of returning to its bullish form as its price doubled in just five of trading. What's pumping Haven Protocol? XHV's price surged by up to 107% week-to-date to climb above $3.60 this Friday, its highest level in more than three months. Interestingly, the move upside followed a period of aggressive selloffs that saw XHV's value dropping from nearly $20 in November 2021 to as low as $1.60 in early February 2022 — an approximately 90% decline. Interestingly, the move upside followed a period of aggressive selloffs that saw XHV's value dropping from nearly $20 in …

On March 10, the Bank of Israel published draft regulation of anti-money-laundering and combatting the financing of terrorism (AML/CFT) risk management for the banks facilitating crypto-to-fiat transactions. The move hints at the Israeli government’s preparations to legalize and regulate the relationship between banks and virtual currency service providers (VASPs). The document cites the customers’ increased involvement with digital assets as the rationale for the new policy: “In view of the increase in customer activity in virtual currencies, and the resulting increase in customer requests to transfer money [...] the Banking Supervision Department today published a draft circular dealing with managing …

According to recent media reports, six European countries, led by Germany, are working on launching an Anti-Money Laundering (AML) body that will include the cryptocurrency market in its purview. Details remain scarce, but it is known that the initiative involves Germany, Spain, Austria, Italy, Luxembourg and the Netherlands. The group is working on “the remit and design” of a new international AML watchdog force that will have a particular emphasis on crypto, and the European Commission — the key executive institution of the European Union — will be the primary platform for the discussion. How will the move affect the …

Christopher Wray, the director of the Federal Bureau of Investigation, said that fiat was a more likely avenue for Russia to explore in circumventing sanctions given the United States’ ability to block efforts using crypto. In a Thursday hearing of the Senate Select Committee on Intelligence, New Mexico Senator Martin Heinrich asked the FBI director if Russia might respond to the economic impact of the United States banning imports of the country’s oil and gas by using reserves of gold, China’s currency, or cryptocurrency. Director Wray said the FBI and its partners had "built up significant expertise" on digital assets, …

Amid the ongoing discussion between the Central Bank of Russia (CBR) and the nation’s Finance Ministry on the future of crypto, a State Duma (the lower chamber of Parliament) working group has voiced their support for regulating rather than banning digital assets. The working group called for the “clear regulation of the digital assets industry” as the most effective approach to lower the risks associated with crypto’s adoption in the country. As reported by local media, some 50 experts took part in the panel session called by the Duma’s working group “On the questions of the regulation of cryptocurrency”. The …

Joe Biden has signed his 82nd executive order since being sworn into office in January 2021, directly addressing a regulatory framework for digital assets in a rare moment for the U.S. President. In a Wednesday announcement, the White House said President Biden's executive order required government agencies to explore the potential rollout of a United States central bank digital currency as well as coordinate and consolidate policy on a national framework for crypto. Many media outlets previously reported the U.S. President had initially planned to sign the executive order in February, an event that was likely postponed following Russia’s military …

Sheikh Mohammed bin Rashid Al Maktoum, the ruler of Dubai in the United Arab Emirates who holds several positions including prime minister, has announced a new law on virtual assets as well as the establishment of a crypto regulator. In a Wednesday announcement, Sheikh Al Maktoum said he had issued a law creating a legal framework for crypto in the Emirate of Dubai aimed at protecting investors and “designing much-warranted international standards” for industry governance. In addition, the ruler said a newly formed Dubai Virtual Asset Regulatory Authority, or VARA, would have enforcement powers in the Emirate’s special development zones …

Later today, U.S. president Joe Biden will sign a long-anticipated executive order on digital assets. Despite fears that the order may resound a regulatory clampdown on the industry, the language of the document is fairly favorable, the key focus being coordination and consolidation of various agencies’ efforts within a unified national policy. The order designates six key areas of the federal government’s involvement with the digital asset ecosystem — consumer and investor protection, financial stability, financial inclusion, responsible innovation, United States’ global financial leadership, and combatting illicit financial activity — and directs specific agencies to lead in designated policy and …

The parliament of the European Union has scheduled a vote on a framework aimed at regulating cryptocurrencies after addressing concerns over proof-of-work mining. In a Monday Twitter thread, European Parliament economics committee member Stefan Berger said the committee will vote on the Markets in Crypto Assets, or MiCA, framework on March 14 following the submission of a final draft of the bill. As the rapporteur — the person appointed to report on proceedings related to the bill — Berger said the legislation will no longer include text which some interpreted as a possible ban on proof-of-work crypto mining. “With MiCA, …

The United Kingdom’s Financial Conduct Authority, or FCA, has issued a warning to Binance Markets in response to Binance’s payment company Bifinity and investment firm Eqonex entering a strategic partnership. In a Monday statement, the FCA reiterated that Binance Markets Limited was not allowed to conduct certain regulated crypto-related activities in the U.K. without prior consent due to previous concerns about the company being incapable of “being effectively supervised,” claiming some of its products posed “a significant risk” to investors. The financial watchdog hinted Bifinity’s recent announcement that it had partnered with Eqonex may be a cause of concern for …

A war rages on Europe’s eastern rim, having already left thousands of people dead and injured and millions more displaced. Digital assets have become so woven into the global financial system that a major political and economic crisis like the one unfolding right now has crypto inevitably involved on all levels: individual, institutional and national. From Russian nationals turning their burning passports into nonfungible tokens (NFTs) to refugees using crypto as a last financial resort, millions of dollars worth of crypto donations flowing to Ukraine, and both digital asset platforms and the United States government weighing crypto sanctions against Russia, …