EU Parliament Votes to Impose KYC on Private Crypto Wallets (Decrypt)
5/ Moreover, any time you receive 1,000 euros or more in crypto from a self-hosted wallet, Coinbase will be required to report you to the authorities. This applies even if there is no indication of suspicious activity.
Bitcoin Exchange Blockchain.com Allowing NFT Usernames for Its 82 Million Wallets (Decrypt)
EU Parliament Approves Rules Targeting Transfers to Unhosted Crypto Wallets (The Block)
“The European Parliament has approved provisions to a bill that takes aim at so-called unhosted wallets. On March 31, the ECON and LIBE committees voted to approve amendments to its Transfer of Funds Regulation that would require crypto service providers — usually exchanges — to verify the identities of the owners of unhosted wallets with which they transact in advance of a transaction.”
SEC Leans on Crypto Firms to Report Assets Held for Customers (Bloomberg)
“The U.S. Securities and Exchange Commission is pressing firms to account for crypto assets they’re holding on behalf of customers on their balance sheets. A growing number of trading platforms are safeguarding digital assets for their users and maintaining the cryptographic keys necessary to access the tokens, the regulator said in staff guidance Thursday. However, they aren’t always disclosing those activities to investors even though they can lead to financial loss if the assets are stolen or misused, an SEC official said on a call with reporters.”
FTX Derivatives Proposal Takes Center Stage at Congressional Hearing With CFTC Chairman (The Block)
“A leader of US financial regulation has defended his agency’s work with crypto exchange FTX in a Congressional hearing, which will apparently be the subject of yet another hearing in May. Rostin Behnam, the chairman of the Commodity Futures Trading Commission, appeared before the House Agriculture Committee on March 31 in a hearing entitled ‘The State of the CFTC.”
Elizabeth Warren Calls for US to Create a CBDC (CoinDesk)
Newly Introduced Bill Aims to Bring Transparency to the Stablecoin Marketplace (CoinDesk)
Started From The Bottom – From Nobody to Unicorn in 3 Years (Dune)
Samsung Taps Nifty Gateway to Create Smart TV NFT Platform (Decrypt)
Axie Infinity Owner ‘Fully Committed’ to Reimbursing Players After Hack (Bloomberg)
“The company behind the popular Axie Infinity crypto game said it will reimburse online participants who lost funds after hackers stole about $600 million from a blockchain system underpinning the game.”
Voyager Digital Falls on Cease and Desist Orders From States (Bloomberg)
“Voyager Digital Ltd. shares plummeted on Wednesday after the firm said it has received, or is aware of, cease and desist orders for its interest-earning cryptocurrency product from New Jersey, Indiana, Kentucky and Oklahoma. The crypto investment firm is in ongoing communications with state regulators to better understand the orders and to ‘clarify certain statements in the orders that Voyager believes are inaccurate,’ it said. The shares, which trade on the Toronto Stock Exchange, fell 21% as of 12:32 p.m. New York time.”
LayerZero Raises $135M From Andreessen, FTX, Sequoia to Build Out ‘Omnichain’ Protocol (Decrypt)
Visa Launches Program to Help Creators Grow Their Businesses With NFTS (The Block)
Helium Crypto Wireless Network Founders Raise $200M, Rebrand to Nova Labs (Decrypt)
Axie Infinity’s Ethereum Sidechain Ronin Hit by $600 Million Exploit (The Block)
OpenSea Teases April Integration of Solana NFTs (The Block)
The best kept secret in web3🤣
Robinhood Crypto Head to Depart (CoinDesk)
After 5 amazing years at @RobinhoodApp, I’m moving on to start something new.
I joined RH when it was under 100 people—before we even offered a crypto product. Watching us grow through IPO and serving more than 22m users has been the greatest professional experience of my life.
Ripple Co-Founder Backs Controversial Campaign to Move Bitcoin to Proof of Stake (Decrypt)
CME Goes Live With ‘Micro’ Bitcoin and Ether Options (The Block)
“Investors with a smaller wallet can now find micro-sized bitcoin and ether futures options on the Chicago Mercantile Exchange (CME). The new product, launched on Monday, features contracts with a tenth of one bitcoin (BTC) or one ether (ETH). The company said on its website that these offerings will allow market participants to efficiently hedge market-moving events with greater precision and flexibility.”
CME Group Micro Bitcoin and Either Options
CFTC Seeks Funding for Expanded Crypto Training in FY2023 Budget (The Block)
“Each new digital asset operates differently and with its own specialized set of threat vectors which each carry its own unique set of risks that need to be identified, assessed and then examined,” said the document. “The Division is requesting additional training resources in the area of loss prevention and resources to analyze and assess new digital assets.”
Grayscale’s Fight for a Bitcoin ETF Could End in Lawsuit Against SEC (Bloomberg)
“Grayscale Investments LLC’s campaign to convert its almost $30 billion Bitcoin trust into an exchange-traded fund could end with legal action. The Securities and Exchange Commission’s final deadline to rule on the digital-asset manager’s application to convert the Grayscale Bitcoin Trust (ticker GBTC) into a physically-backed ETF — a product not yet approved by U.S. regulators — is July 6. Should the SEC reject the filing, Grayscale would consider a lawsuit as part of its response.”
Treasury Wants More Reporting to the IRS on Offshore Crypto Accounts (The Block)
“Tax compliance and enforcement with respect to digital assets is a rapidly growing problem. Since the industry is entirely digital, taxpayers can transact with offshore digital asset exchanges and wallet providers without leaving the United States.”
Crypto.com, Bybit Announce Plans to Set Up Operations in Dubai (Bloomberg)
“Cryptocurrency exchanges Bybit and Crypto.com announced plans to set up operations in Dubai, as the emirate steps up efforts to attract companies in the fast-growing industry. Crypto.com said in a statement on Monday that it will set up a regional base in Dubai, and plans to establish a ‘significant’ presence there. Bybit will move its global headquarters to the emirate, with operations starting as early as next month, after receiving in-principle approval to conduct a ‘full spectrum’ of virtual-assets business in the United Arab Emirates, it said in a blog post.”
UK Set to Disclose Plans for Regulating Crypto in Coming Weeks (CoinDesk)
Coinbase Said Near Deal to Buy Owner of Brazil’s Largest Crypto Exchange (CoinDesk)
Avalanche Launches $100 Million Creator Fund With Grimes and web3 Platform Op3n (The Block)
CME Bitcoin Futures Premium Hits Highest Level Since Early January (CoinDesk)
Bitcoin’s Stealth Rally Erases Its Losses for the Year (Bloomberg)
“Bitcoin’s stealth rally over the past two weeks not only pushed it past a key level of $45,000 — it also put the world’s biggest cryptocurrency back in positive territory for the year. The token rose to around $47,000 at 3:30 p.m. in Hong Kong, well above the $35,000-to-$45,000 range where it’s been stuck since early January. With the fresh gains, Bitcoin is now up about 1.4% for the year, compared with a 4.7% decline for the S&P 500.”
Last Week’s Most Read Articles
Ray Dalio’s Bridgewater Investing in Crypto Fund: Sources (CoinDesk)
Fund Manager Jim Chanos Says He’s Shorting Coinbase (CoinDesk)
Stargate Bridge Attracts $2 Billion of Liquidity Within a Week of Launch (The Block)
Cowen to Offer Spot Crypto Trading in Early Move by Wall Street (Bloomberg)
DAO Treasuries Top $8.2 Billion on Ethereum, $1.3B on Solana (Decrypt)
