Looking for today’s crypto scoop? Here’s what’s been buzzing in the world of digital currencies, from Bitcoin’s price movements to regulatory updates and more.
1. Aptos Seeks Aave Community Support for Non-EVM Integration
The Aptos Foundation has proposed deploying Aave Protocol v3 on the Aptos mainnet, marking the first time Aave’s liquidity protocol would move beyond Ethereum Virtual Machine (EVM)-compatible blockchains. This proposal, introduced on July 1, aims to leverage Aptos’ unique architecture and the Move programming language for scalable and user-friendly decentralized applications.
2. Circle Becomes First Licensed Stablecoin Issuer Under MiCA
Circle’s USDC and EURC stablecoins have become the first fully compliant digital fiat tokens under the EU’s Markets in Crypto-Assets (MiCA) rules. Circle’s CEO Jeremy Allaire announced regulatory approval, with Circle choosing France as its European headquarters. This milestone marks a significant advancement in integrating stablecoins into the financial system.
3. Cardano Updates MiCA Compliance Indicators Ahead of Schedule
The Cardano Foundation, in collaboration with the Crypto Carbon Ratings Institute (CCRI), released sustainability indicators to comply with the upcoming MiCA regulations. These indicators focus on Cardano’s energy efficiency and transparency, highlighting its low electricity consumption and alignment with regulatory standards.
4. Polkadot’s $245M Treasury Doesn’t Have a 2-Year Runway, Despite Community Concerns
Polkadot’s treasury, holding assets worth nearly $245 million, has been under scrutiny over its spending and sustainability. Despite concerns about a two-year budget runway, the treasury is continually replenished through staking rewards. Recent reports highlighted significant spending on advertising and events, sparking discussions on stricter budgeting and inflation adjustments.
5. Cryptos, Secondary BNB Sales Not Securities: Federal Court Rules in Binance vs SEC Case
In a notable victory for the crypto industry, a federal court ruled that cryptocurrencies and secondary sales of Binance Coin (BNB) do not constitute securities offerings. This ruling, part of the ongoing Binance vs SEC case, dismissed several SEC claims and could positively impact other legal battles, like the Ripple vs SEC lawsuit.
6. Singapore Ups Crypto Exchanges Risk Factor Under New Law Update
The Monetary Authority of Singapore (MAS) has increased the risk level for crypto exchange platforms from medium-low to medium-high in an update to the country’s Terrorism Financing laws. This move aims to prevent exploitation of Singapore’s financial system by terrorist groups, reflecting a cautious approach to digital payment tokens.
7. No, Denmark Did Not Propose to Ban Self-Custody Wallets
The Danish Financial Supervisory Authority (DFSA) clarified that it has not proposed banning self-custodial cryptocurrency wallets. Misinterpretations on social media suggested a ban, but the DFSA emphasized that non-custodial wallets, by their nature, are not subject to the Markets in Crypto-Assets (MiCA) Regulation.
8. German Government Transfers Another $52M Bitcoin, Threatening More BTC Selling Pressure
A wallet associated with the German government transferred $52 million worth of Bitcoin, prompting speculation about the government selling its extensive Bitcoin holdings. This follows earlier significant transfers, suggesting ongoing selling pressure which could impact Bitcoin prices.
9. Paxos Gains Approval for Singapore Stablecoin Launch with DBS Partnership
Paxos has received full regulatory approval from the Monetary Authority of Singapore to offer digital payment token services, allowing the launch of a stablecoin in partnership with DBS. This approval marks another step in Paxos’ global expansion, emphasizing regulated stablecoin offerings to enhance financial accessibility and security.
This summary encapsulates the key developments in the cryptocurrency and blockchain sectors, highlighting regulatory advancements, strategic partnerships, and significant legal rulings.
