💸EU Unhosted Crypto Wallets Rule - TWJ #117
The EU seems to not understand how the blockchain works.
In today’s issue:
The crypto market is flat with the total market cap sitting at $2.1-2.2 trillion. STEPN (GMT) lead the top 100 crypto assets by market cap in the past 7-d. The EU Parliament moves forward with a controversial and damaging crypto wallets rule, seems like they’re NGMI.
In other news, the EU moves forward with the unhosted crypto wallets rule, BNY Mellon will custody assets backing USDC, and Elizabeth Warren calls for US CBDC.
We’re continually improving our content, please reach out if you have ideas or would like us to recap another segment of the market.
- Curated by Marco Manoppo (@manoppomarco)
📰Market News
⎆EU Unhosted Crypto Wallets Rule
The EU Parliament has approved provisions to a bill that would require crypto service providers, which usually include exchanges, to verify the identities tied to the unhosted wallets in advance of a transaction.
⎆BNY Mellon Will Custody Assets Backing USDC
One of the oldest US banks will serve as the primary custodian for the assets backing the stablecoin USD Coin (USDC). There are currently more than $50 billion USDC in circulation, making it the second-largest stablecoin by market cap after USDT. BNY Mellon was also one of the first banks to lean into providing custody for crypto assets.
⎆Elizabeth Warren Calls for US CBDC
Senator Warren has once again made an effort to extend her involvement with the digital asset space, calling for the US to create its own CBDC. Warren’s stance towards crypto assets in general thus far can be described as antagonistic, but she seems to be open to the idea of a centrally owned digital currency.
👨🏻💻Decentralized Finance (DeFi)
Polygon Taps Zero-Knowledge Proofs For New Identity Service
DeFi Kingdoms Launches Crystalvale
1inch Launches Wallet App on Android
Wormhole Integrated with Acala and Karura
Astroport Launches xASTRO
Element Finance Launches Element DAO and $ELFI
Chiliz Launches Public Testnet for Its New Layer-1 Blockchain
Paradigm Announced Foundry v0.2.0
Atlas DEX v2.0 is Live
AirSwap v3.0 is Live
Risk Harbor Ozone Update
🏛Governance - Active Proposals
Babylon Finance - BIP-15: Referral Program
Compound - OpenZeppelin Security Partnership - 2022 Q2 Adjustment V2
Dope Wars - DIP-39 Community Team
Unlock - Changes to Governance
🦮NFT & Metaverse
ASTO Discovery Auction
Cryptotester Drops NFT
LOOKS Compounder Now Live!
OpenSea Exec Who Quit After ‘Insider Trading’ Scandal Is Back With NFT Platform
OpenSea Rolls Out Credit Card Payments for NFTS
Top Sales (Last 24-h); Source: https://dappradar.com/nft
📈Deal Flow & Capital Raise
CertiK - $88M Unknown Round
Battlebound - $4.8M Seed Round
⚖️Regulatory Update
EU Parliament Passes Privacy-Busting Crypto Rules Despite Industry Criticism
Crypto Industry Mobilizes Against Proposed EU Transparency Rules
Crypto Firms Weigh Options as UK Registration Deadline Looms
Elizabeth Warren Calls for US to Create a CBDC
Newly Introduced Bill Aims to Bring Transparency to the Stablecoin
Wall Street Watchdog Cautions Banks on Trading Crypto Derivatives
SEC: Custody Services Should Account for Crypto Assets as Liability
CFTC Chief Says FTX Plan Could Make Crypto Markets 'More Efficient'
Bank of Japan Calls for G7 Nations to Adopt Common Crypto Regulations
📚Noteworthy Reads
Zaheer Ebtikar’s Read on The Future of On-Chain Trading
Paola Vivoli’s Read on The New Creator Economy
Anjan Vinod’s Thread on Web3 Hiring Landscape
Feel free to reach out to manoppomarco@gmail.com — feedbacks and constructive criticisms are much appreciated.