The Nigerian Securities and Exchange Commission (SEC) has updated its crypto rules, adding requirements on crypto-related marketing promotions from virtual asset service providers (VASPs) and social media influencers. In its revised Digital Asset Rules, the SEC said that VASPs engaging third-party service providers to promote their crypto products must “obtain prior approval from the Commission.” The rules…
More than $1 billion was liquidated in the crypto market over the past 24 hours as participants were caught off guard by the strong momentum of crypto over the past 30 days. Still, one analyst suggested the market downturn may be short-lived. “We’ve had such a bullish narrative over the last month that the market…
Deutsche Bank, Germany’s largest lender, is reportedly developing its own layer-2 (L2) blockchain on Ethereum using ZKsync technology to address compliance challenges associated with using public blockchains in regulated finance. The L2 solution, part of Project Dama 2, looks to improve transaction efficiency and secure regulatory safeguards, integrating directly with Ethereum, according to Bloomberg. Project Dama 2…
The debate over whether Bitcoin’s 21 million supply cap is truly fixed has resurfaced after BlackRock posted a three-minute Bitcoin explainer video, which added a disclaimer saying there’s no guarantee it won’t be changed. Bitcoin’s fixed supply is one of its strongest propositions as a store of value, and uncapping it would impact how investors…
Cryptocurrency market commentators and observers have predicted positive market trends associated with United States President-elect Donald Trump’s inauguration in January 2025, but BitMEX co-founder Arthur Hayes has a different perspective. Hayes cautioned against the high expectations of quick crypto policy changes promised by Trump, highlighting a gap between market anticipation and the realities of policy implementation….
The European Securities and Markets Authority (ESMA) has released its final guidance report for member states making the final transition to the Markets in Crypto-Assets (MiCA) regulation. Laws formed under MiCA regulations began taking effect in June 2024, with final implementation scheduled for Dec. 30. The latest and final guidance from the ESMA is meant to…
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