The EU’s MiCA regulation surprised some doubters as major crypto exchanges lined up to get licenses. Despite initial concerns about its effect on the European crypto industry, the Markets in Crypto-Assets (MiCA) regulation is proving a benefit to crypto customers and exchanges alike. The EU’s first regulatory package concerning cryptocurrencies has been in effect for almost 200 days, and since then, a number of prominent exchanges has set up operations on the continent. In its first two quarters of operation, MiCA has shirked critics’ expectations that it would “destroy” the European crypto industry by overburdening exchanges with regulations and requiring users to identify themselves to stay on regulated platforms. Read more
Citizenship and residency via crypto are now possible in countries like Vanuatu, El Salvador and Portugal, with investment requirements ranging from $100,000 to $1 million. Vanuatu is one of the fastest countries to offer citizenship, with crypto accepted through licensed agents. Dominica and Saint Lucia offer Caribbean citizenship in months using crypto converted via trusted agencies. Portugal offers EU residency and a path to citizenship through crypto-linked investment funds. Read more
Wynn previously claimed that his leveraged positions were deliberately “hunted” by crypto market makers looking to sink Bitcoin’s price below his liquidation threshold. Multimillionaire cryptocurrency trader James Wynn returned despite numerous previous liquidations, signaling renewed confidence in Bitcoin’s near-term upside momentum. Wynn returned with two new leveraged positions, including a 40x leveraged Bitcoin (BTC) long position worth over $19.5 million at $117,000, which could be liquidated if the price fell below $115,750. Wynn has already incurred $1.4 million worth of funding fees to maintain the position, which has a current unrealized profit of $78,000. Wynn’s second position is a 10x leveraged long on the popular Pepe (PEPE) memecoin, worth over $102,000, was opened at $0.01201, but the position’s liquidation price remains unknown, according to blockchain data from Hypurrscan. Read more
Ripple told Cointelegraph it will apply for a MiCA license to expand its crypto and stablecoin operations across the European Economic Area. Payment solution company Ripple has confirmed its intention to pursue a Markets in Crypto Assets (MiCA) license to expand into the EU. In messages sent to Cointelegraph, a Ripple spokesperson said the company intends “to become MiCA-compliant” as it recognizes “significant opportunity in the European market.” The statement follows Ripple’s registration of Ripple Payments Europe S.A. in Luxembourg in late April. Read more