-
BTC 65,892.33 (+6.77%) -
ARS 1,088.20 (+1.62%) -
ETH 3,013.81 (+3.98%) -
PEPE <0.01 (-0.85%) -
SOL 155.82 (+8.85%) -
FLOKI <0.01 (+12.27%) -
WIF 3.03 (+8.35%) -
DOGE 0.16 (+6.33%) -
PEOPLE 0.05 (+43.93%) -
BOME 0.01 (+9.82%) -
NEAR 7.99 (+13.83%) -
XRP 0.52 (+3.05%) -
RNDR 10.70 (+7.78%) -
ENA 0.73 (+4.58%) -
AEVO 0.82 (-19.47%) -
WLD 5.07 (+7.19%) -
RUNE 6.26 (+12.41%) -
BONK <0.01 (+6.19%) -
AVAX 34.58 (+8.78%) -
FTM 0.76 (+17.56%) -
AR 44.42 (+11.46%) -
OP 2.49 (+2.68%) -
ORDI 38.81 (+5.52%) -
SUI 1.00 (+10.72%) -
JTO 4.26 (+13.09%) -
ARKM 2.42 (+7.28%) -
ICP 12.53 (+5.46%) -
PENDLE 4.42 (+12.64%)
FTX collapse Binances US settlement provides strong case for MiCA regulations
Published: 2023-11-23
1. Crypto Exchange Failures and the Need for MICA Regulation: - The article discusses the increasing number of crypto exchange failures and argues for the need for regulation under the proposed Markets in Crypto-Assets (MICA) framework. - Several recent high-profile exchange failures,such as Mt. Gox and QuadrigaCX,have resulted in significant financial losses for investors,highlighting the risks associated with unregulated exchanges. - The lack of regulatory oversight and security measures in the crypto industry has allowed for fraudulent activities,market manipulation,and hacks,leading to the loss of billions of dollars. - The MICA regulation aims to address these issues by introducing stricter compliance requirements,capital requirements,and customer protection measures for cryptocurrency exchanges. - The regulation also seeks to prevent money laundering and terrorist financing by imposing anti-money laundering (AML) and know-your-customer (KYC) rules on crypto service providers. - Supporters argue that MICA regulation would increase investor confidence,attract institutional investors,and contribute to the long-term stability and growth of the crypto market.
2. Key Features of the MICA Regulation: - The MICA regulation proposes a comprehensive set of rules to govern the issuance,trading,and custody of crypto-assets. - It introduces a classification framework for different types of crypto-assets,such as utility tokens,payment tokens,and asset tokens,with corresponding regulatory requirements. - The regulation establishes strict authorization processes for crypto service providers,including exchanges,wallet providers,and trading platforms,to ensure compliance with security and operational standards. - It mandates capital requirements for crypto service providers to ensure they have sufficient financial resources to cover potential losses and protect customer funds. - MICA also sets out rules for the promotion of crypto-assets,aiming to prevent misleading marketing practices and protect retail investors from potential scams. - The regulation proposes a harmonized approach to crypto regulation across the European Union (EU),allowing for a level playing field and fostering cross-border growth and innovation in the crypto industry.
3. Potential Implications and Challenges of MICA Regulation: - While the MICA regulation is hailed as a necessary step towards enhancing the security and stability of the crypto market,some critics argue that excessive regulation may stifle innovation and hinder the industry's growth. - Compliance with the new regulatory requirements may pose challenges for smaller crypto exchanges and startups,as they may struggle to meet the increased operational and financial demands. - The enforcement of AML and KYC rules may also raise privacy concerns among cryptocurrency users,as their personal information may be shared with regulatory authorities. - The implementation of MICA regulation will require coordination and cooperation among EU member states,as harmonization across the region is essential to avoid regulatory arbitrage and ensure consistent oversight. - International collaboration will also be crucial,as the global nature of the crypto industry necessitates coordinated efforts to effectively combat illicit activities and protect investors worldwide.
Reference: cointelegraph.com
The most traded coin
(Update every 1 hour)
| at | from | is ($US) | turnover ($) |
|---|---|---|---|
| 1 | BTC |
65,892.33 | 2,681,355,452.66 |
| 2 | ARS |
1,088.20 | 2,005,146,567.90 |
| 3 | ETH |
3,013.81 | 954,121,094.99 |
| 4 | PEPE |
<0.01 | 797,371,623.95 |
| 5 | SOL |
155.82 | 687,768,305.41 |
| 6 | FLOKI |
<0.01 | 294,657,929.52 |
| 7 | WIF |
3.03 | 286,080,436.09 |
| 8 | DOGE |
0.16 | 269,837,258.17 |
| 9 | PEOPLE |
0.05 | 183,862,169.97 |
| 10 | BOME |
0.01 | 176,445,994.86 |
| 11 | NEAR |
7.99 | 175,220,269.32 |
| 12 | XRP |
0.52 | 163,793,622.46 |
| 13 | RNDR |
10.70 | 163,572,332.38 |
| 14 | ENA |
0.73 | 144,561,044.37 |
| 15 | AEVO |
0.82 | 136,381,376.27 |
| 16 | WLD |
5.07 | 135,133,350.59 |
| 17 | RUNE |
6.26 | 132,742,076.73 |
| 18 | BONK |
<0.01 | 93,148,304.20 |
| 19 | AVAX |
34.58 | 71,945,648.99 |
| 20 | FTM |
0.76 | 68,300,506.04 |
| 21 | AR |
44.42 | 65,714,938.74 |
| 22 | OP |
2.49 | 58,659,753.70 |
| 23 | ORDI |
38.81 | 58,184,385.21 |
| 24 | SUI |
1.00 | 52,828,645.76 |
| 25 | JTO |
4.26 | 47,159,067.29 |
| 26 | ARKM |
2.42 | 45,557,375.91 |
| 27 | ICP |
12.53 | 42,172,569.24 |
| 28 | PENDLE |
4.42 | 42,156,839.25 |
Coins with rapidly rising prices
(Update every 1 minute)
| at | from | is ($US) | more (%) |
|---|---|---|---|
| 1 | PEOPLE |
0.05 | +43.93 |
| 2 | FTM |
0.76 | +17.56 |
| 3 |  IMX |
2.38 | +16.79 |
| 4 |  SEI |
0.53 | +16.77 |
| 5 |  TAO |
397.80 | +15.94 |
| 6 |  AXL |
1.06 | +15.91 |
| 7 |  GMX |
31.77 | +15.07 |
| 8 | NEAR |
7.99 | +13.83 |
| 9 |  STX |
2.18 | +13.41 |
| 10 |  JOE |
0.48 | +13.16 |
| 11 | JTO |
4.26 | +13.09 |
| 12 |  BEAMX |
0.02 | +13.04 |
| 13 |  YGG |
0.82 | +12.89 |
| 14 |  SUSHI |
1.13 | +12.75 |
| 15 | PENDLE |
4.42 | +12.64 |
| 16 |  NMR |
27.56 | +12.58 |
| 17 | RUNE |
6.26 | +12.41 |
| 18 | FLOKI |
<0.01 | +12.27 |
| 19 |  RLC |
3.31 | +12.01 |
| 20 |  RSR |
<0.01 | +11.57 |
| 21 |  DOCK |
0.03 | +11.52 |
| 22 |  FIS |
0.49 | +11.46 |
| 23 | AR |
44.42 | +11.46 |
| 24 |  BICO |
0.46 | +11.36 |
| 25 |  BAKE |
0.29 | +11.14 |
| 26 |  JASMY |
0.02 | +11.13 |
| 27 |  DCR |
19.83 | +10.97 |
| 28 |  PYTH |
0.45 | +10.95 |
| 29 |  TFUEL |
0.10 | +10.95 |
| 30 |  AGIX |
0.93 | +10.90 |
Bitcoin's Greed and Fear Index.
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US news that has a significant impact on the market
| at | news | day | date | time |
|---|---|---|---|---|
| 1 | FOMC Member Bowman Speaks | Wednesday | 15-05-2024 | 20:20 |
| 2 | TIC Long-Term Purchases | Wednesday | 15-05-2024 | 21:00 |
| 3 | Unemployment Claims | Thursday | 16-05-2024 | 13:30 |
| 4 | Building Permits | Thursday | 16-05-2024 | 13:30 |
| 5 | Philly Fed Manufacturing Index | Thursday | 16-05-2024 | 13:30 |
| 6 | Housing Starts | Thursday | 16-05-2024 | 13:30 |
| 7 | Import Prices m/m | Thursday | 16-05-2024 | 13:30 |
| 8 | Industrial Production m/m | Thursday | 16-05-2024 | 14:15 |
| 9 | Capacity Utilization Rate | Thursday | 16-05-2024 | 14:15 |
| 10 | FOMC Member Barr Speaks | Thursday | 16-05-2024 | 15:00 |
| 11 | Mortgage Delinquencies | Thursday | 16-05-2024 | 15:10 |
| 12 | Natural Gas Storage | Thursday | 16-05-2024 | 15:30 |
| 13 | FOMC Member Mester Speaks | Thursday | 16-05-2024 | 17:00 |
| 14 | FOMC Member Bostic Speaks | Thursday | 16-05-2024 | 20:50 |
| 15 | CB Leading Index m/m | Friday | 17-05-2024 | 15:00 |
| 16 | FOMC Member Waller Speaks | Friday | 17-05-2024 | 15:15 |
| 17 | FOMC Member Daly Speaks | Friday | 17-05-2024 | 17:15 |
| 18 | FOMC Member Kugler Speaks | Saturday | 18-05-2024 | 22:45 |
