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Bitcoin has solidified its mainstream status with the approval of 11 exchange-traded funds, attracting over $113.5 billion by year-end and pushing its price to record highs of $100,000. MicroStrategy plans to expand its Bitcoin purchases significantly, while Crypto.com launches a custody service for US institutions. Meanwhile, Russia imposes a six-year ban on crypto mining in ten regions, and the IRS maintains that staking rewards are taxable upon receipt, setting a precedent for future taxation.
Tether's USDT stablecoin faces regulatory uncertainty as the EU's Markets in Crypto-Assets Regulation (MiCA) takes effect on December 30, raising compliance questions. Coinbase has delisted USDT, while other exchanges await guidance, potentially leading to a shift towards USDC or fiat currencies. Tether CEO Paolo Ardoino dismissed the surrounding FUD as a competitive tactic, emphasizing the stablecoin's significance in the crypto market.
The EU's cryptocurrency regulations, set to fully take effect on December 30, 2024, introduce varying grandfathering periods for member states, with some allowing up to 18 months. Tether's USDt stablecoin faces uncertainty regarding its compliance, as exchanges like Coinbase have delisted it, while others await regulatory clarity. The transitional phase will last until July 2026, during which existing crypto services may continue under national laws, potentially leading to inconsistent consumer protections across the EU.
Crypto lending platforms offer diverse opportunities for borrowers and lenders, with features like flexible repayment terms and competitive interest rates. Notable options include Aave and Compound for DeFi enthusiasts, while Binance and Crypto.com cater to those seeking user-friendly experiences. However, users should remain vigilant about risks such as market volatility and potential security breaches.
In December, a judge dismissed a lawsuit from Crypto.com, while the SEC has yet to file its own suit against the exchange. As of 2024, several crypto firms, including Uniswap Labs and OpenSea, have received Wells notices from the SEC, indicating potential legal action for alleged violations of securities laws. With new SEC leadership anticipated, the crypto industry hopes for a shift in enforcement strategies.
Crypto.com has launched a crypto custody trust service for institutions in the US and Canada. Ether has seen a 3% increase, nearing $3,500, while Bitcoin remains stagnant below $95k. The iDEGEN pre-market auction has raised over $8.5 million, selling nearly 1.1 billion tokens, with the project aiming to merge AI and memecoin ecosystems. The auction will conclude on January 1, 2025, before the token's exchange listing.
Crypto.com has launched a sports prediction market in the U.S., starting with the Super Bowl, allowing users to bet on NFL outcomes using various digital assets. This move taps into the growing interest in sports betting, which generated $14.30 billion in revenue in 2024, and positions Crypto.com to engage its sports fan base effectively. The platform's entry coincides with its U.S. trust company launch, enhancing custody services for customers.
Crypto.com has launched an institutional cryptocurrency custody service in the US, named Crypto.com Custody Trust Company, aimed at US institutions and high-net-worth individuals. This move reflects the company's confidence in the North American market and is part of its strategy to enhance its presence in the US and Canada.In December, CEO Kris Marszalek met with US President-elect Donald Trump to discuss crypto policies, coinciding with the company's decision to drop its lawsuit against the SEC, signaling a commitment to collaborate on regulatory frameworks.
The $BAD token by Bad Idea AI has been integrated into Crypto.com’s On-Chain Wallet, enhancing user access to decentralized finance (DeFi) services. This listing allows for direct management of $BAD tokens, promoting stability and visibility in a volatile market. The integration connects users to the broader Web3 ecosystem, facilitating engagement with decentralized applications and potential passive income opportunities.
04:53 23.12.2024
Several altcoins are poised for significant growth in Q1 2025, including Rexas Finance (RXS), Stellar (XLM), Hedera (HBAR), Cronos (CRO), and Mantle Network (MNT). Rexas Finance focuses on real estate tokenization, while Stellar enhances global payments. Hedera offers fast, secure transactions, Cronos promotes digital payments, and Mantle Network aims to improve Ethereum's scalability. Each of these projects presents substantial investment potential as the cryptocurrency market evolves.
11:15 22.12.2024
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