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According to the Oct. 17 report, MiCA regulations governing crypto -asset services will not take effect until December 2024. This means that during this period, crypto -asset holders and service clients will not have access to EU-level regulatory protections and the ability to file complaints against crypto -asset service providers with their National Competent Authorities (NCAs). An 18-month transition period The statement highlights that even after Markets in Crypto-Assets Regulation (MiCA) regulations become applicable to crypto -asset service providers, Member States have the discretion to offer a maximum 18-month “transitional period” to entities already offering crypto -asset services in their respective regions, allowing them to continue operations without a MiCA license, commonly referred to as a grandfathering clause.  You might also like: Crypto companies seek more time amid new MiCA regulations This implies that crypto -asset holders and clients of c...

The EURC stablecoin (formerly EUROC) is now available on Stellar in addition to Ethereum and Avalanche. Stablecoin issuer Circle has launched a Stellar network version of its euro-backed stablecoin , EURC, according to a Sept. 26 announcement. EURC was previously only available on the Ethereum and Avalanche networks. Hello Europe meet our new friend EURC on #Stellar. Same speed, low cost, and reliability of the Stellar network we all know and love in a brand new currency. With @circle's EURC, we can't wait to see what real-world utility builders unlock next.@TeanaTaylor breaks it… pic.twitter.com/eQE5sMZI2M — Stellar (@StellarOrg) September 26, 2023 Stablecoins, or fiat-backed crypto tokens, have become an essential component of the Web3 ecosystem. They allow users to send payments, borrow currency, lend it out for interest, and perform other fiat-currency related actions on blockchain networks. U.S. dollar-backed USD Coin (USDC) and Tether (USDT) are currently the sixt...

There’s a saying that goes, ‘See the good in everything’ and the view will turn from bitter to sweet. Europe is now in a similar situation as BRICS expanded last month, becoming an 11-nation alliance. While BRICS expansion is bad news for the U.S., Europe could benefit from the new alliance and forge better trade deals. Also Read: Not BRICS : Uncontrolled Debt Could Bring the US Dollar Down BRICS: A New Worldview For Europe, Nightmare For U.S. Source: consilium.europa.au The new BRICS brought a mixed worldview after Iran was inducted into the bloc. Europe has mostly cut ties with Iran due to U.S. sanctions but might soon begin initiating trade deals through the BRICS. The diversification of nations brings the value of ‘seeing the good in everything’ making Iran mingle with Europe through the alliance. Also Read: BRICS: India Aggressively Dumping the U.S. Dollar, Insiders Say “Their addition diversifies BRICS, promoting a more ba...

Spanish crypto currency company Bitnovo conducted research to understand how Spanish citizens see crypto currency growth in the country. The adoption of cryptocurrency in Spain is growing rapidly. According to data provided by Statista, Spain ranks 22nd internationally in cryptocurrency adoption, with 15% of the population compared to 10% in 2019. The research showed that 60.7% of Spanish citizens are motivated to buy cryptocurrencies for long-term investments, 35.7% to make payments, 21.4 % for short-term speculation, and 17.9% to buy cryptocurrencies out of curiosity. The research also aims to understand how crypto currency evolves as a new payment method in Spain. You might also like: Spain grants virtual asset service provider registration to Crypto.com Cryptocurrency as a payment method Bitnovo understood that cryptocurrency is becoming a popular payment method; the report found that 1.4% make payments with credit or debit cards, 50% with cryptocurrencies, 39.3% wit...

The Stoxx 600 index currently trading 1% up, as it climbed further from the two-month low hit on Wednesday. Mining stocks also showed gains, up 2.6%, while oil and gas climbed 1.3% ahead of the June 4 OPEC+ meeting. advertisement The Debt Ceiling bill passed the Senate vote late Thursday, after passing the House of Representatives on Wednesday. All eyes on US economy The uncertainty around the Debt Ceiling bill has only slightly rattled markets in the past month. Now all eyes turn to the outlook for the U.S. economy, recession risk, and whether the Federal Reserve will raise, pause or even look at beginning to cut interest rates. As reported earlier, recent comments from officials have indicated the central bank may opt to skip another hike at its June meeting. However, the picture is complicated by continued strength in U.S. data., including in consumer spending and manufacturing orders. Friday will see the release of a closely-watched labor marke...