August 15th

Current Bitcoin Price: $24,223

Bitcoin price has started this week more or less where it ended up Friday, once again hovering around the $24,000 mark after a failed break through $25,000.

Top-20 altcoins are mostly down over the last 24 hours of trading, as Ethereum drops 3%, BNB is down 1% and Shiba Inu corrects 10% after a weekend pump.

The European Union is currently in the process of creating a new regulating body, which will directly oversee cryptocurrency-based businesses.

The Anti-Money Laundering Authority (AMLA) will monitor at least those crypto firms that are deemed high-risk – however, many negotiations are left to take place before the organization is established.

Staffing and the implementation of the regulation is still estimated to take years, but it appears to be highly likely that the body will be created.

Digital banking firm Revolut can now offer crypto services to its 17 million customers across the European Economic Area (EEA), following authorization by the Cyprus Securities and Exchange Commission.

Revolut is valued at $33 billion and offers exposure to around 80 different crypto assets, including 20 new listed assets to begin August.

Crypto investment company Galaxy Digital has terminated its acquisition of custody firm BitGo, citing a breach of contract. BitGo reportedly failed to deliver audited financial statements for 2021, by the July 21 deadline last month.

The acquisition was planned as part of Galaxy's plans to go public in the United States, which according to CEO Mike Novogratz is still one of the company's primary goals.