Apr 2023 Crypto Industry Updates

Table of Contents

Content will be sorted chronologically with latest at the bottom.

  • European Union has passes the world’s first comprehensive framework for crypto regulation
    • the Markets in Crypto Act, or MiCA, seeks to reduce risks for customers by making providers liable if they lose customer assets. It imposes transparency, disclosure and supervision requirement for platforms and token issuers, as well as strict backing requirements for stablecoins.
    • separate legislation requires exchanges to report transfers above 1,000 euros to self-hosted wallets.
    • crypto companies with a licence in any European country can offer services across all European countries.
  • The first and only Belgian cryptocurrency lending platform, Bit4You, said it was suspending its activities
    • suspension is after CoinLoan, one of its main service providers, was declared insolvent by an Estonian court.
  • Franklin Templeton putting its Nasdaq-listed OnChain U.S. Government Money Fund (FOBXX) on chain via Polygon
    • first US-listed fund to use blockchain for recording ownership and processing transactions.
  • Crypto lender Celsius goes up For auction
    • declared bankruptcy in the summer of 2022, went up for auction in New York
    • Previous court filings show that Celsius was facing a $1.2 billion USD shortfall, with liabilities of $5.5 billion USD and assets amounting to $4.3 billion USD.

Started investing in crypto towards the end of 2020.