China News Official Today TheBitTimes.com

Malta’s Financial Services Authority has initiated the next step to revise its cryptocurrency regulation s, aiming to align them with the forthcoming European Markets in Crypto-Assets (MiCA) regulation s set to go into effect in December 2024.  Malta’s announcement aims to bring about changes in its regulation s governing exchanges, custodians, and portfolio managers, which will result in an align ment with the European Union’s MiCA framework. Other EU nations, such as France, have also introduced new rules in line with MiCA.  The view from Malta Originally established in 2018 with the Virtual Financial Assets (VFA), changes to Malta’s cryptocurrency framework include the removal of the systems audit requirement for VFA license holders, the reduction of capital requirements for Class 3 and 4 license holders to $133,000 (125,000 euros) and $159,000 (150,000 euros), respectively, as well as the removal of the professional indemnity insuranc...

U.S. stock markets hit year-to-date highs, the Fed pauses rate hikes, Binance.US and the SEC reach an agreement, but data shows Bitcoin bulls remain somewhat skittish. After a momentary retest of the $25,000 support on June 15, Bitcoin (BTC) gained 6.5% as bulls successfully defended the $26,300 level. Despite this, the general sentiment remains slightly bearish as the cryptocurrency has declined by 12.7% in two months. The dismissal of Binance.US's temporary restraining order by United States district court Judge Amy Berman Jackson is somewhat related to investors’ sentiment improving. On June 16, the exchange reportedly reached an agreement with the U.S. Securities and Exchange Commission (SEC), avoiding the freeze of its assets. On a longer timeframe, the global regulatory environment has been extremely harmful to cryptocurrency prices. Besides the SEC trying to unilaterally label exactly which altcoins it views as securities and litigating with the two leading global exchanges...