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The future of Bitcoin mining in the European Union may hinge on today's pivotal vote in the EU Parliament. The EU Parliament's Committee on Economic and Monetary Affairs (ECON) is voting on the proposed Markets in Crypto Assets (MiCA) regulation draft. The proposed regulation is taking aim at crypto mining, due to concerns over its impact on the environment. In particular, the latest MiCA draft aims to limit the use of cryptos powered by the Proof of Work (PoW) mechanism. If…

Gemini is the latest crypto exchange to join the Crypto Council for Innovation (CCI). Its addition enhances CCI's list of prestigious crypto firms supporting regulations on digital assets. So far, the group includes Coinbase, Block, Fidelity Digital Assets, and Paradigm, among others. Gemini’s Quest for Regulating Crypto Joining the CCI is only one of Gemini's recent initiatives for supporting policy and regulatory affairs. Notably, the company spent $120,000 on lobbying activities in the U.S. in the last six months of…

Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The Crypto Market ends the week at a total market capitalization of $1,741 trillion. Bitcoin registers a slight 0.2% increase after a highly volatile week. Ethereum is down by almost 2% and continues to drop. XRP gained almost 7% in value over the past seven days. Almost all altcoins are trading in the red after a hectic week. The DeFi sector lost roughly $1 billion from…

Coinbase, the most prominent crypto exchange in the U.S., has announced revenue of $2.2 billion. The impressive amount represents the platform's income only from transaction fees within Q4 2021. It is among the highest profits that crypto exchanges generated in recent years. Above all, it surpassed analyst expectations by no less than 27%. Coinbase’s Success in Numbers Last year, FactSet consensus predicted Coinbase to gain around $1.9 billion in revenue for the latest financial quarter. However, it seems that the…

While everyone is discussing crypto regulations in the U.S., Russia, or China, other countries are tip-toeing towards total crypto adoption. For instance, the United Arab Emirates (UAE) is preparing to issue federal licenses of virtual asset service providers (VASPs). The new legislation should come into effect by the end of Q1 2022. Above all, it should transform the country into a crypto oasis in the Middle East. A Surprisingly Friendly Approach to Crypto According to a Bloomberg report, the UAE’s…

A New York court has declined to drop the Security and Exchange Commission's lawsuit against payments processing company, Ripple. Interestingly, the court also dismissed SEC’s motion against Ripple. Ripple’s CEO Brad Garlinghouse has declared the latest development a “huge win”. Judge Denies Execs' Dismissal Motions A New York court turned down the motions of two senior executives at Ripple to dismiss the pending lawsuit against them. The verdict, delivered by Magistrate Analisa Torres, nullified the executives' motions to drop the…

UK's Financial Conduct Authority ordered crypto enterprises in the country to cease ATM services immediately.  This order applies to all 81 crypto ATMs installed in the United Kingdom. The FCA warned that organizations failing to comply with this command promptly would face severe punishment.  According to the FCA, none of these companies have a license to offer on-ramp or off-ramp services. Thus, firms providing these cash-dispensing machines have to register with the FCA first to obtain authorization, they said in…

Cyclically, inflation has become a hot topic in different economies. After years of near-zero (or even negative) inflation rate, the world is entering a new inflationary phase. Consequently, investors need to find ways to protect their portfolios during such periods. Our article will briefly explain how inflation can damage investment portfolios, a fundamental premise to the rest of the analysis. Going on, we will try to assess the power of cryptocurrencies to hedge inflation. How Inflation Puts Investments at Risk…

A half-ancient Bitcoin address – created while Satoshi was still active – abruptly spent all of its coins yesterday night. Its once 489 Bitcoin balance has been reduced to zero, having been moved elsewhere. The transaction marks the first time the wallet saw any activity since last June and the first time that any coins have ever been spent from the address. The first time the wallet received coins was in October of 2010, when a whopping 489 Bitcoin was…