The week is over again! And to be able to start the new week well-informed, we once again clearly list the biggest crypto news in this Crypto Recap. This week saw some interesting news regarding bitcoin (BTC) adoption and also a meme coin that rose sharply. But first European news.
European Parliament passes historic MiCA crypto law
It may sound like boring news, but it is nevertheless a historic move for crypto. The European Parliament has the Markets in Crypto Assets (MiCA) law approved. This law provides a comprehensive framework for the crypto sector in Europe.
It is an important step as it can put Europe at the forefront of innovation with crypto and blockchain. The CEO of the world’s largest crypto exchange Binance was therefore positive about the development: “There are now clear rules for crypto exchanges that want to operate in Europe.” According to the CEO, MiCA will protect users and stimulate innovation.
PEPE is rising fast, but is it reliable?
A new meme crypto has hit the market; PEPE. The crypto has risen enormously in recent times. In some markets, the cryptocurrency soared by as much as 21,000%!
It’s extremely rapid growth that has probably provided some investors with a nice return. But there are some red flags, as described in this article.
Another country is buying bitcoin
There are now a number of countries that accept bitcoin as legal tender. This week’s list of countries either embracing or buying bitcoin had a new name; Bhutan. The small country is said to have invested in bitcoin in a non-public way.
The country’s investment fund allegedly held 1,888 BTC, which was used as collateral for a loan of USD 30 million. However, this news stemmed from not so positive news. The information was found in documents in the BlockFi and Celsius lawsuits, two crypto platforms that have gone bankrupt. It is therefore not clear whether the fund still owns the crypto.
