EU’s new ‘DORA’ rules come into effect: What does it mean for crypto?

January 17, 2025 Coin Telegraph

Bitcoin

Europe’s Digital Operational Resilience Act now applies to crypto businesses, expanding MiCA’s scope and requiring firms to enhance cybersecurity and risk management.

Cryptocurrency businesses in the European Union are subject to new cybersecurity regulations as the Digital Operational Resilience Act (DORA) takes effect on Jan. 17.

DORA impacts cybersecurity and resilience practices by virtual asset service providers (VASP) in the region.

To comply with DORA, financial entities in the EU are required to have a comprehensive register of their contractual arrangements with third-party IT service providers to ensure safe infrastructure and risk management.

Saylor Projects Bitcoin’s Market Cap Will Hit 0 Trillion, Demonetizing Gold and Real Estate

Saylor Projects Bitcoin’s Market Cap Will Hit $500 Trillion, Demonetizing Gold and Real Estate

Trump plans executive order making crypto a national priority: Report

January 17, 2025 Coin Telegraph

Bitcoin

The executive order would instruct regulatory agencies to work with the industry and create a crypto council to represent the industry, according to people familiar with the plans.

US President-elect Donald Trump is reportedly expected to sign an executive order designating crypto as a national priority that could come as soon as he re-enters office on Jan. 20.

Bloomberg reported on Jan. 17, citing people familiar with the plans, that the order would mean regulatory agencies would be guided to work with the industry. It could also create a crypto council to advocate the industry’s policy wishes.

The order could be signed on Jan. 20 — Trump’s first day back as president — but it’s not final and could change before it’s made public, the report said.

Saylor Projects Bitcoin’s Market Cap Will Hit $500 Trillion, Demonetizing Gold and Real Estate

Circle’s USDC beats Tether USDT in market cap surge during 2024

January 14, 2025 Coin Telegraph

Circle

USDC’s massive growth in 2024 marked the stablecoin’s steady recovery following a 45% market cap drop associated with the Silicon Valley Bank collapse in 2023.

Circle’s USD Coin stablecoin outpaced all other stablecoins in terms of market capitalization growth in 2024, after a decline in 2023.

The circulation of USD Coin (USDC) grew 78% year-over-year, outpacing the growth rate of all global stablecoins, Circle said in its third annual State of the USDC Economy Report released on Jan. 14.

“The growth of USDC in 2024 can be attributed to a combination of factors: the maturing regulatory clarity across major markets, the scalability of blockchain infrastructure, and our relentless focus on trust, transparency and utility,” a spokesperson for Circle told Cointelegraph.

Saylor Projects Bitcoin’s Market Cap Will Hit $500 Trillion, Demonetizing Gold and Real Estate

Standard Chartered debuts crypto services in Europe with new license

January 9, 2025 Coin Telegraph

bank

Banking giant Standard Chartered is debuting crypto services in Europein Europe via its new Luxembourg entity after securing a digital asset license under the MiCA framework.

Update (Jan. 9, 3:40 pm UTC): This article has been updated to add a comment about custody and trading from Standard Chartered.

Standard Chartered, one of the world’s largest banks, is debuting cryptocurrency services in Europe after obtaining a digital asset license in Luxembourg.

The bank announced on Jan. 9 that it is establishing a new entity in Luxembourg to act as its European Union regulatory entry point for offering crypto and digital asset custody services.

Saylor Projects Bitcoin’s Market Cap Will Hit $500 Trillion, Demonetizing Gold and Real Estate

Corporate crypto investments in South Korea inch closer to approval

January 8, 2025 Coin Telegraph

Bitcoin

South Korean regulators reportedly continue to discuss the approval of corporate crypto trading amid the country’s ongoing leadership crisis.

South Korean regulators are moving forward with plans to approve cryptocurrency investment by institutional investors, according to local media reports.

The South Korean Financial Services Commission (FSC) has announced plans to gradually roll out corporate investment in digital assets by allowing the issuance of real-name corporate trading accounts, the local news agency Yonhap reported on Jan. 8.

The regulator reportedly announced the initiative in conjunction with the FSC’s 2025 work plan to focus on financial stability and accelerate innovation.

Saylor Projects Bitcoin’s Market Cap Will Hit $500 Trillion, Demonetizing Gold and Real Estate

Barclays-backed Copper withdraws UK crypto license application

December 20, 2024 Coin Telegraph

Barclays

The UK FCA previously said that almost 90% of annual crypto license applications had failed as of September.

Update (Dec. 20, 10:40 am UTC): This article has been updated to include exclusive interview comments from Copper.

Copper Technologies, a cryptocurrency custody firm backed by British multinational bank Barclays, has withdrawn its crypto license application in the United Kingdom.

Copper withdrew its application to register with the UK’s Financial Conduct Authority on Dec. 20, saying it will shift focus to foreign hubs under its new CEO, the firm confirmed to Cointelegraph on Friday.

Saylor Projects Bitcoin’s Market Cap Will Hit $500 Trillion, Demonetizing Gold and Real Estate

Coinbase prepares to delist Tether’s USDT stablecoin in Europe

December 12, 2024 Coin Telegraph

Coin Telegraph

Coinbase said it will assess reenabling services for stablecoins that achieve MiCA compliance at a later date.

Cryptocurrency exchanges in Europe are preparing to delist locally noncompliant stablecoins as European crypto regulations near an enforcement deadline.

Coinbase Europe, Coinbase Germany and Coinbase Custody International will delist Tether’s USDt (USDT) and five other stablecoins on Dec. 13, Coinbase told Cointelegraph on Thursday.

“Based on the latest information, we currently expect we will have to restrict services for the following assets: USDT, PAX, PYUSD, GUSD, GYEN, and DAI,” Coinbase said, referring to the coins as assets restricted by Europe’s Markets in Crypto-Assets Regulation (MiCA).

Saylor Projects Bitcoin’s Market Cap Will Hit $500 Trillion, Demonetizing Gold and Real Estate

Binance, WazirX among crypto firms evading taxes in India, says gov’t

December 4, 2024 Coin Telegraph

Binance

India has recovered $14 million in goods and services tax from crypto firms like WazirX, but Binance has yet to pay its $85 million tax evasion liabilities, the minister said.

The Indian government has detected a significant amount of unpaid goods and service taxes (GST) by major cryptocurrency exchanges, including Binance and WazirX.

India’s Minister of State for Finance, Pankaj Chaudhary, said the government has found 824 crore Indian rupees ($97 million) in GST in unpaid taxes by several crypto exchanges, The Economic Times reported on Dec. 3.

Authorities have reportedly initiated multiple related investigations into crypto exchanges, including WazirX, CoinDCX and CoinSwitch Kuber.

Saylor Projects Bitcoin’s Market Cap Will Hit $500 Trillion, Demonetizing Gold and Real Estate

Trump’s likely SEC pick fuels RSR token rally to multiyear high

December 3, 2024 Coin Telegraph

advisor

The community has linked the 88% spike in the price of the Reserve Rights token to Donald Trump, who is likely to pick Paul Atkins as the next SEC chair.

The Reserve Rights (RSR) token saw a sharp increase in value as speculation built around former United States President Donald Trump’s expected nomination of a new US Securities and Exchange Commission chair.

Some members of the cryptocurrency community have linked the token’s rise to rumors that Trump may appoint former SEC Commissioner Paul Atkins, who has previously advised the Reserve Rights Foundation, the entity behind the RSR token.

Source: Henshaw Udowo

Saylor Projects Bitcoin’s Market Cap Will Hit $500 Trillion, Demonetizing Gold and Real Estate

Crypto community hopeful about new Senate leader John Thune

November 14, 2024 Coin Telegraph

Bitcoin

Not endorsed by Donald Trump, Senator John Thune defeated the Elon Musk-supported Senator Rick Scott to become the new Senate majority leader.

The cryptocurrency industry has high hopes for regulatory clarity in the United States as the Republican Party elected Senator John Thune of South Dakota as the new Senate majority leader.

Thune won the Senate majority leader race on Nov. 13, defeating the Elon Musk-endorsed Senator Rick Scott of Florida.

“We will work to make America prosperous again by streamlining the bureaucratic machine and overturning costly Biden-Harris regulations,” Thune stated in a speech after winning.

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