Day: July 10, 2023

MiCA’s stablecoin transaction cap stifles crypto adoption, say lawyers

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Stablecoin use could be “stifled” by daily transaction caps in the European Union’s Markets in Crypto-Assets (MiCA) legislation, with some calling for the framework to be revised. On May 31, MiCA was signed into law which paved the way for the world’s first regulatory guidance on cryptocurrencies to come into effect. The legislation was received positively by many in the crypto industry, but one of the more controversial measures introduced is the $219 million (200 million euro) cap on daily transactions for private stablecoins such as Tether (USDT) and Circle’s…

‘Scammers’ impersonate Crypto Twitter users on Threads as users near 100M

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Scammers appear to have wasted no time since the launch of Meta’s new microblogging app — with several high-profile Crypto Twitter users already warning of imposter accounts on Threads. Threads was launched on July 5 and has seen sign-ups climb above 98 million in the days following. It’s still far away from Twitter’s estimated 450 million users. However, over the past few days, multiple Crypto Twitter figures have already pointed out fake accounts on Threads impersonating others or themselves. On July 8, decentralized finance platform Wombex Finance tweeted an image…

Bitcoin Opens Week Defending $30K Support Level

“So-called mainstream adoption will bring waves of new entrants to bitcoin, and the risk is that they won’t care, and won’t protect the decentralization properties that make it valuable over centralized alternatives in the first place,” Alex Thorn, head of research at Galaxy, wrote last week in his report. Source

Rush for Hong Kong’s crypto licenses yet to translate to jobs: Recruiters

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Crypto firms may appear to have been prepping entry to Hong Kong with unabated excitement, but it’s yet to translate into in-country hires, according to recruitment executives. On June 1, around 150 companies lined up for a local crypto license which permits the operation of a local crypto trading platform. Some have reportedly even spent up to $25 million to nab one. Speaking to Cointelegraph, Sue Wei, managing director of major recruitment firm Hays, said that while exchanges have been seeking to build a base in Hong Kong, the industry’s…