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Crypto enforcement, Newsletter

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Crypto enforcement, Newsletter

This week’s key events presented by senior financial reporter Jack Schickler.

Key diary dates

  • Monday 24 – Tuesday 25 June: .7th European Nuclear Safety Conference.

  • Thursday 27 – Friday 28 June: European Summit of heads of state in Brussels to set strategic agenda and EU top jobs.

  • Sunday 30 June: EU law on cryptocurrency takes effect.

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In spotlight

The EU’s landmark cryptocurrency law takes effect this week, and it doesn’t look like it’s going to be smooth sailing.

The Markets in Crypto Assets regulation, MiCA, was finalised last year after years of haggling – and represents a world-first.

MiCA adapts financial laws to apply to those trading bitcoin and its ilk, offering a modicum of consumer protection in a sector prone to scams and manipulation.

But industry figures complain the rules are still unclear after being finalised late.  With just days to go until the rules take effect, we haven’t identified a single crypto player that succeeded in being authorised under the provisions set to take effect next Sunday.

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The toughest part of the law covers stablecoins, cryptocurrencies which seek a fixed value against assets such as the dollar, which will apply as of 30 June.

EU finance ministers took fright when Facebook announced its own stablecoin, Libra, in 2019. They didn’t want US big tech firms introducing their own currencies that could come to supplant the euro.

Their fears were largely upheld in spring 2022 when another stablecoin, Terra, proved not so stable, sending a tsunami across the sector thanks to a spectacular crash.

Brussels has boasted its new law will keep people safe while promoting innovation – something the bloc sorely needs as it faces up to competition from the US and Asia.

But complying with bank-style laws was always going to be an uphill struggle for an industry that previously faced few regulatory constraints.

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Crypto’s had a tough few years, and many of its figureheads are now in jail for charges including fraud and money laundering.

Optimists hope that crypto’s newfound regulatory credibility will draw a line under those scandals, even encouraging more cautious firms from the traditional financial sector to jump on board.

If nobody succeeds in complying, of course, regulation might just kill the sector outright.  

Policy newsmakers

Dutch Hungarians in government

Zsolt Szabó, the candidate for state secretary for digitalisation in the incoming Dutch right-wing government, touted centralised AI as a priority of his mandate last week. Szabó, who has Hungarian roots, was nominated by the far-right Freedom Party of Geert Wilders, but today told lawmakers that “IT isn’t left-wing or right-wing”. Like Szabó, incoming Economy Minister Dirk Beljaarts has a Hungarian mother. Beljaarts told Dutch media last week that he has renounced his Hungarian passport. Szabó said he only has Dutch nationality. Wilders has criticised politicians holding dual nationality in the past.

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Future Cryptocurrency to Go Viral Mpeppe (MPEPE) Will It Surpass Bonk Experts Think So » The Merkle News

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Future Cryptocurrency to Go Viral Mpeppe (MPEPE) Will It Surpass Bonk Experts Think So » The Merkle News

In the ever-evolving world of cryptocurrency, new tokens continually emerge, each vying for investor attention and market dominance. Among these, Mpeppe (MPEPE) has recently captured significant interest, with experts predicting it could surpass the established meme coin Bonk (BONK). This article delves into the unique features of Mpeppe (MPEPE), its potential for going viral, and what experts say about its future compared to Bonk (BONK).

The Rise of Mpeppe (MPEPE)

Mpeppe (MPEPE) has quickly gained traction in the crypto market, offering a unique combination of meme culture and practical applications. Built on the Ethereum network, Mpeppe (MPEPE) leverages advanced blockchain technology to provide secure and efficient transactions. Its applications in sports betting and fan engagement ensure ongoing demand, positioning Mpeppe (MPEPE) for long-term growth.

The token’s advanced technological foundation, including the use of smart contracts, appeals to a broad range of investors. Analysts predict substantial returns for Mpeppe (MPEPE) as it gains broader adoption, making it an attractive investment for those looking to capitalize on its potential. The smart contract address for acquiring Mpeppe (MPEPE) tokens is 0xd328a1C97e9b6b3Afd42eAf535bcB55A85cDcA7B.

Bonk (BONK): A Popular Meme Coin

Bonk (BONK) has been a significant player in the meme coin sector, known for its vibrant community and engaging narrative. The token has built a loyal following by leveraging the power of meme culture to create a compelling investment opportunity. Early investors in Bonk (BONK) have enjoyed substantial returns, making it a popular choice among crypto enthusiasts. However, with the rise of new tokens like Mpeppe (MPEPE), the competition is heating up.

Why Mpeppe (MPEPE) Is Poised to Go Viral

Several factors contribute to Mpeppe (MPEPE)’s potential for going viral and surpassing Bonk (BONK):

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  • Real-World Applications: Unlike many meme coins that rely purely on speculative trading, Mpeppe (MPEPE) offers tangible benefits through its applications in sports betting and fan engagement. These real-world utilities ensure ongoing demand for the token.
  • Technological Sophistication: Mpeppe (MPEPE) leverages the Ethereum network’s advanced features, including support for smart contracts, enhancing its security and efficiency. This technological edge appeals to tech-savvy investors seeking innovative digital assets.
  • Growth Potential: With a strong foundation and increasing adoption, Mpeppe (MPEPE) is poised for significant growth. Analysts predict substantial appreciation in value, making it an attractive option for those looking to maximize their returns.
  • Community Engagement: A strong and engaged community is crucial for the success of any cryptocurrency. Mpeppe (MPEPE) has been building a dedicated user base, which helps drive adoption and maintain demand. This community support is a key factor in its growth trajectory.

Expert Opinions on Mpeppe (MPEPE) vs. Bonk (BONK)

Industry experts have weighed in on the potential of Mpeppe (MPEPE) to surpass Bonk (BONK). They highlight several key areas where Mpeppe (MPEPE) excels:

 

  • Innovation: Experts point to Mpeppe’s (MPEPE) innovative use of blockchain technology and smart contracts as a major advantage. These features not only enhance the token’s security and efficiency but also provide a robust platform for future developments.

 

  • Utility: The practical applications of Mpeppe (MPEPE) in sports betting and fan engagement set it apart from many other meme coins. This real-world utility ensures ongoing demand and adds a layer of stability to the investment.

 

  • Market Sentiment: Positive market sentiment surrounding Mpeppe (MPEPE) is another factor contributing to its potential for substantial growth. As more investors recognize its unique value propositions, the demand for Mpeppe (MPEPE) is expected to increase, driving up its value.

 

  • Community Support: The strong and engaged community backing Mpeppe (MPEPE) is crucial for its long-term success. This community support helps drive adoption and maintain demand, positioning the token for sustained growth.

The Future of Mpeppe (MPEPE) and Bonk (BONK)

As Mpeppe (MPEPE) continues to gain traction, its future prospects look promising. The token’s blend of meme culture and practical utility, backed by advanced technology, position it for long-term success. The excitement and increased market activity surrounding Mpeppe (MPEPE) provide a unique opportunity for investors to capitalize on its potential.

For Bonk (BONK), maintaining its relevance in the face of increasing competition will require continuous innovation and strategic partnerships. By enhancing its features and expanding its ecosystem, Bonk (BONK) can attract new investors and retain its loyal user base.

Conclusion

In conclusion, Mpeppe (MPEPE) presents a unique opportunity for investors looking to diversify their portfolios and achieve substantial returns. Its blend of meme culture and practical applications, backed by advanced technology and strong community engagement, makes it a compelling investment. While Bonk (BONK) remains a significant player in the meme coin market, the rise of Mpeppe (MPEPE) offers exciting opportunities for those ready to embrace its potential. The future looks bright for Mpeppe (MPEPE) as it continues to gain momentum and capture the interest of the cryptocurrency community.

For more information on the Mpeppe (MPEPE) Presale:

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Visit Mpeppe (MPEPE)

Join and become a community member: 

https://t.me/mpeppecoin

https://x.com/mpeppecommunity?s=11&t=hQv3guBuxfglZI-0YOTGuQ

Disclosure: This is a sponsored press release. Please do your research before buying any cryptocurrency or investing in any projects. Read the full disclosure here.

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MiCA's Looming Deadline: Crypto Exchanges Shake-Up Stablecoins

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MiCA's Looming Deadline: Crypto Exchanges Shake-Up Stablecoins

The European Union’s Markets in Crypto-Assets Regulation (MiCA) will come into effect on 30 June, which is only three days away. As such, many crypto exchanges offering services in the bloc are already taking measures, mostly by dropping stablecoin offerings.

“This will be a first step entering the new regulatory framework, and it will have a significant impact on the stablecoin market in the European Economic Area (EEA),” Binance, the largest crypto exchange in terms of trading volume, stated.

Crypto Exchanges Dropped Stablecoins

At least four cryptocurrency exchanges have confirmed that they are restricting some stablecoin access to users within the EEA. Bitstamp was the latest to confirm on Wednesday that it would delist the euro-denominated stablecoin, EURT, before the 30 June deadline.

EURT is a EUR-pegged stablecoin issued by Tether, the company behind the largest circulated stablecoin, USDT, with a market capitalisation of more than $112.7 billion. Interestingly, Bitstamp became one of the first crypto exchanges to list EURT in November 2021.

“Electronic Money Tokens (EMTs) which are not Euro-denominated and are already available on the exchange but not within MiCA regulation, will not be delisted, although their availability to European customers will be limited on certain products,” Bitstamp wrote in its announcement.

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“Bitstamp will not list any new EMTs that don’t meet MiCA requirements, nor will it engage in any marketing of them.”

Another major name to take action ahead of MiCA is Binance. As Finance Magnates reported earlier, the crypto exchange already blocked access to some services, including copy trading. It will also bring further restrictions, including restricting the purchase of unauthorised stablecoins and limiting new borrowings and transfers of unauthorised stablecoins in margin trading.

Uphold, another crypto exchange with ties to Ripple, also confirmed the delisting of six stablecoins, including the popular USDT, for European users. However, it will continue to support USDC, EURC, and PYUSD.

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Comply with MiCA from 30 June

Similar to MiFID, MiCA will bring cryptocurrency services to the EU under one regulatory umbrella. The regulation will impact the distribution of the cryptocurrencies in the bloc, meaning both retail and institutional players will be affected in some way or another.

With the EU parliament’s approval in 2023, MiCA is set to be implemented in two phases: the rules around stablecoins to come into effect on 30 June 2024 and then the wider compliance on exchanges and wallets to be effective from 30 December 2024.

Under MiCA, fiat-backed stablecoins in the bloc would be categorised as ‘e-money tokens’, whereas other asset-backed tokens would be ‘asset-referenced tokens’. In both cases, the stablecoin issuers must maintain a 1:1 reserve. It will also bring algorithmic stablecoins under the purview, mandating them to maintain value.

The regulations would also restrict the daily transaction limit with non-euro pegged stablecoins to merely $1 million.

“As the world’s longest-running cryptocurrency exchange, we have consistently advocated for a proportionate response to regulation which protects consumers while allowing for the ongoing maturation of cryptocurrencies as an asset class,” said James Sullivan, UK Managing Director at Bitstamp. “We are communicating directly with the small proportion of our customers whose asset mixes are affected.”

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Exchanges Are Preparing for Months

A few crypto exchanges were already taking steps to comply with MiCA earlier this year. In March, OKX confirmed its delisting of USDT pairs in the EEA, without mentioning MiCA. “Please note that not all tokens are available in all markets due to regulatory requirements,” an email sent by the exchange to its European customers noted.

Interestingly, Kraken also reviewed the USDT pairs it offered in the EU and considered removing them to comply with MiCA, according to a Bloomberg report in March. However, following the report, Kraken’s Global Head of Asset Growth and Management, Mark Greenberg, clarified that the exchange “continues to list USDT in Europe and we have no plans to delist at this time.”

“We know our European clients value access to USDT and we continue to look at all options to offer USDT under the upcoming regime,” he added. “We will of course follow all legal requirements, even those we disagree with. But the rules are not finalised yet and we continue to do everything we can to continue to offer all relevant stablecoins to our European customers.”

Until now, Kraken did not announce anything officially on delisting any stablecoin pairs to comply with MiCA.

Interestingly, a recent report revealed that only 9 percent of the cryptocurrency firms, out of 68 surveyed, are fully compliant with MiCA requirements, whereas another 25 percent are yet to commence preparations.

The European Union’s Markets in Crypto-Assets Regulation (MiCA) will come into effect on 30 June, which is only three days away. As such, many crypto exchanges offering services in the bloc are already taking measures, mostly by dropping stablecoin offerings.

“This will be a first step entering the new regulatory framework, and it will have a significant impact on the stablecoin market in the European Economic Area (EEA),” Binance, the largest crypto exchange in terms of trading volume, stated.

Advertisement

Crypto Exchanges Dropped Stablecoins

At least four cryptocurrency exchanges have confirmed that they are restricting some stablecoin access to users within the EEA. Bitstamp was the latest to confirm on Wednesday that it would delist the euro-denominated stablecoin, EURT, before the 30 June deadline.

EURT is a EUR-pegged stablecoin issued by Tether, the company behind the largest circulated stablecoin, USDT, with a market capitalisation of more than $112.7 billion. Interestingly, Bitstamp became one of the first crypto exchanges to list EURT in November 2021.

“Electronic Money Tokens (EMTs) which are not Euro-denominated and are already available on the exchange but not within MiCA regulation, will not be delisted, although their availability to European customers will be limited on certain products,” Bitstamp wrote in its announcement.

“Bitstamp will not list any new EMTs that don’t meet MiCA requirements, nor will it engage in any marketing of them.”

Another major name to take action ahead of MiCA is Binance. As Finance Magnates reported earlier, the crypto exchange already blocked access to some services, including copy trading. It will also bring further restrictions, including restricting the purchase of unauthorised stablecoins and limiting new borrowings and transfers of unauthorised stablecoins in margin trading.

Advertisement

Uphold, another crypto exchange with ties to Ripple, also confirmed the delisting of six stablecoins, including the popular USDT, for European users. However, it will continue to support USDC, EURC, and PYUSD.

Comply with MiCA from 30 June

Similar to MiFID, MiCA will bring cryptocurrency services to the EU under one regulatory umbrella. The regulation will impact the distribution of the cryptocurrencies in the bloc, meaning both retail and institutional players will be affected in some way or another.

With the EU parliament’s approval in 2023, MiCA is set to be implemented in two phases: the rules around stablecoins to come into effect on 30 June 2024 and then the wider compliance on exchanges and wallets to be effective from 30 December 2024.

Advertisement

Under MiCA, fiat-backed stablecoins in the bloc would be categorised as ‘e-money tokens’, whereas other asset-backed tokens would be ‘asset-referenced tokens’. In both cases, the stablecoin issuers must maintain a 1:1 reserve. It will also bring algorithmic stablecoins under the purview, mandating them to maintain value.

The regulations would also restrict the daily transaction limit with non-euro pegged stablecoins to merely $1 million.

“As the world’s longest-running cryptocurrency exchange, we have consistently advocated for a proportionate response to regulation which protects consumers while allowing for the ongoing maturation of cryptocurrencies as an asset class,” said James Sullivan, UK Managing Director at Bitstamp. “We are communicating directly with the small proportion of our customers whose asset mixes are affected.”

Exchanges Are Preparing for Months

A few crypto exchanges were already taking steps to comply with MiCA earlier this year. In March, OKX confirmed its delisting of USDT pairs in the EEA, without mentioning MiCA. “Please note that not all tokens are available in all markets due to regulatory requirements,” an email sent by the exchange to its European customers noted.

Interestingly, Kraken also reviewed the USDT pairs it offered in the EU and considered removing them to comply with MiCA, according to a Bloomberg report in March. However, following the report, Kraken’s Global Head of Asset Growth and Management, Mark Greenberg, clarified that the exchange “continues to list USDT in Europe and we have no plans to delist at this time.”

Advertisement

“We know our European clients value access to USDT and we continue to look at all options to offer USDT under the upcoming regime,” he added. “We will of course follow all legal requirements, even those we disagree with. But the rules are not finalised yet and we continue to do everything we can to continue to offer all relevant stablecoins to our European customers.”

Until now, Kraken did not announce anything officially on delisting any stablecoin pairs to comply with MiCA.

Advertisement

Interestingly, a recent report revealed that only 9 percent of the cryptocurrency firms, out of 68 surveyed, are fully compliant with MiCA requirements, whereas another 25 percent are yet to commence preparations.

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Leveraging Artificial Intelligence to Revolutionize Efficiency in Cryptocurrency Staking

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Leveraging Artificial Intelligence to Revolutionize Efficiency in Cryptocurrency Staking

Miami, FL, June 27, 2024 (GLOBE NEWSWIRE) — CryptoHeap, a leading name in the cryptocurrency staking industry, is excited to announce its latest innovation: AI-driven crypto staking. By leveraging cutting-edge artificial intelligence, CryptoHeap aims to revolutionize efficiency and profitability in cryptocurrency staking, setting a new standard for the industry. This groundbreaking technology is poised to enhance user experience, optimize returns, and solidify CryptoHeap’s position as one of the best crypto staking platforms available.

Salvage Warwick, CEO of CryptoHeap, highlighted the transformative potential of AI in crypto staking. “The integration of AI into our staking platform is a significant milestone for CryptoHeap. This advancement allows us to provide users with more efficient, accurate, and profitable staking opportunities. We believe AI-driven staking will be a game-changer, not just for our platform, but for the entire industry,” Warwick stated.

Enhancing Efficiency with AI

Artificial intelligence offers numerous benefits for crypto staking platforms. By employing machine learning algorithms and predictive analytics, CryptoHeap can process vast amounts of market data in real-time. This capability enables the platform to make informed decisions, optimize staking strategies, and maximize returns for users. The AI-driven approach also improves risk management, providing investors with a more secure and stable staking experience.

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“Our AI-driven platform continuously learns and adapts to market conditions. This means our users benefit from the most current strategies and insights, making their staking experience more rewarding and secure,” Warwick explained.

Comprehensive Staking Packages

CryptoHeap’s AI-driven platform offers a range of staking packages tailored to various investment goals. These packages include some of the best crypto staking coins, positioning CryptoHeap as a top choice for those looking to invest in the best crypto to stake in 2024. By providing options with daily rewards, capital return, and significant referral bonuses, CryptoHeap ensures a diverse range of opportunities for investors.

Focus on Ethereum Staking

Ethereum remains a focal point for many investors, and CryptoHeap’s AI-driven platform offers some of the best ethereum staking platforms available. The platform’s advanced AI capabilities provide enhanced insights and strategies for staking Ethereum, ensuring users can maximize their returns safely and efficiently.

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Warwick emphasized the benefits of Ethereum staking on the platform. “Ethereum staking is a cornerstone of our offerings. Our AI technology provides users with the best possible strategies for staking Ethereum, addressing common concerns such as ‘is staking ethereum a good idea’ and ‘is staking ethereum safe.’ With our platform, users can stake Ethereum with confidence and achieve superior returns,” he said.

Comprehensive Staking Packages

CryptoHeap offers a diverse range of staking packages, each tailored to meet various investment needs. These packages include options for some of the best crypto staking coins, making CryptoHeap one of the best crypto staking platforms in the market. Investors can choose from staking options that offer daily rewards, capital return, and significant referral bonuses.

Warwick emphasized the platform’s commitment to providing the best staking crypto options, particularly highlighting Ethereum staking. “Ethereum staking remains one of the most popular choices among our users. We offer some of the best ethereum staking platforms, ensuring that our users can stake their ETH safely and profitably. For those asking ‘is staking ethereum a good idea’ and ‘is staking ethereum safe,’ we provide robust solutions that address these concerns,” he explained.

Strategic Monitoring and Future Plans

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As the crypto market evolves, CryptoHeap remains committed to innovation and user satisfaction. The platform continuously enhances its AI capabilities to ensure users can navigate the complexities of the crypto market effectively.

“We are continuously improving our AI algorithms and expanding our offerings to meet the needs of our users. Our focus on innovation and excellence ensures CryptoHeap remains at the forefront of the crypto staking industry,” Warwick concluded.

With the introduction of AI-driven crypto staking, CryptoHeap is set to revolutionize the industry. The platform’s commitment to leveraging cutting-edge technology, providing comprehensive staking packages, and ensuring security and education positions it as a leader in the crypto staking space.

Investors and crypto enthusiasts are encouraged to explore the AI-driven staking packages and other features available on CryptoHeap’s platform. For more information about CryptoHeap’s services and upcoming enhancements, visit the official website at https://cryptoheap.com/.

Disclaimer: The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency & securities.

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