Daily Crypto Update 03/08/2022
Happy Women’s Day to all of you, beautiful ladies! And if you still haven't given a flower to your loved one, hurry up, because even a significant jump in the price of crypto will not help.
Now let’s move to the top news:
🔥Biden is going to pass a crypto law this week
🔥FTX is expanding into Europe
🔥Coinbase blocks 25,000 addresses linked to illegal activities in Russia
🔥Apple founder Steve Wozniak: Bitcoin is "pure gold mathematics"
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🔥Biden is going to pass a crypto law this week
We are waiting for US President Joe Biden to sign the long-awaited law that will regulate cryptocurrencies.
The report “will direct federal agencies to examine potential regulatory changes, as well as the national security and economic impact of digital assets." It will help both the SEC and the CFTC to coordinate their roles and finally decide who will be responsible for the industry. So far, none of them was able to answer questions and the crypto companies had a hard time finding the right path.
The law was expected to be announced in February. However, the conflicts in Ukraine and the financial sanctions seem to slow down the process.
Last year some of the leading crypto CEOs asked for a separate financial regulator responsible only for crypto. At the moment, however, this will not be accepted.
🔥FTX is expanding into Europe
The seventh-largest crypto exchange in the world is expanding its services to the European crypto market. FTX launched its subsidiary on the Old continent after receiving approval from Cyprus' financial regulator CySec.
FTX Europe will serve customers in Europe, and according to the company's marketing page will provide services in the Middle East
This is the second affiliate of the original FTX crypto exchange. In May 2019 launched its American affiliate - FTX US.
“As we continue to grow, we are constantly looking at opportunities to become appropriately licensed and regulated in every market we enter. We’ll be interacting with regulators in various countries across Europe to continue to provide a safe and secure environment for people to trade crypto” said Sam Bankman-Fried.
🔥Coinbase blocks 25,000 addresses linked to illegal activity in Russia
Coinbase has blocked more than 25,000 addresses belonging to Russian citizens or organizations. The crypto exchange believes that they are involved in illegal activities.
The business said that the move was taken after a "proactive investigation" and that the addresses were shared with the US government to "further support sanctions enforcement."
Coinbase says "Sanctions play a vital role in promoting national security and deterring unlawful aggression". The exchange fully supports the government's actions.
🔥Apple founder Steve Wozniak: Bitcoin is "pure gold mathematics"
One of Apple's founders expressed admiration for Bitcoin in an interview. According to Wozniak, the cryptocurrency "is the only one that’s pure-gold mathematics."
He has been a Bitcoin supporter for some time, describing it in a preliminary interview as a "mathematical miracle." As for NFT and other cryptocurrencies, he says they are "so up in the air".
Wozniak says his favorite part of Bitcoin is "can't be modified easily with humans in control of it," unlike the U.S. dollar.