European Union officials have agreed to adopt new regulation called the Markets in Crypto-Assets (MiCA) framework.
| | | 📈 30 Second Cryptocurrency Price Summary |
| Bitcoin price has fluctuated rapidly over the last 24 hours of trading, touching as low as $18,952 before rebounding in a flash toward the $21,000 mark. |
| Top-20 altcoins have had mixed performance, as Ethereum rises 3%, BNB gains 1% and XRP drops 1%. |
Top Stories for July 1, 2022 🔥 |
| European Union officials have agreed to adopt new regulation called the Markets in Crypto-Assets (MiCA) framework, which would cover stablecoins, crypto exchanges and wallets. |
| Notably, the regulation would require stablecoin issuers to build up sufficiently liquid reserves, as well as cap transactions of the token at 200 million euros per day – significantly below the transaction volumes seen in major stablecoins today. |
| MiCA will also require crypto-asset service providers to "adhere to strict requirements aimed at protecting consumers" and can be held liable if they lose investor assets. |
| Almost $200 million in Bitcoin and Ether futures positions were liquidated yesterday in a significant short-squeeze, as Bitcoin price jumped from recent lows to almost $20,900 in a matter of minutes. |
| $76 million in long positions were also liquidated on the previous downward move, as Bitcoin fell below the $19,000. Solana, Avalanche and other cryptocurrency futures also saw $5 million in liquidations. |
| Meta's Facebook has initiated the roll-out of its first non-fungible token (NFT) feature, beginning with a select group of US creators – a week after CEO Mark Zuckerberg's announcement of the plan. |
| Facebook NFTs will appear in a special tab labelled "digital collectibles", with support for the same blockchains and wallets as a recent Instagram integration. This includes Rainbow, MetaMask and Trust Wallet, with others on the way. |
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