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Bitcoin dropped again below the closely watched $30,000 mark as consistently high UK inflation stoked concerns about interest rates staying higher for longer. Most of the tokens were trading in the red this week after UK CPI data for March came higher than anticipated.
Apart from that, here are some of the top stories from the crypto industry this week.
Web3 users can now pay for decentralized.eth domain registrations on the Ethereum Name Service (ENS) protocol with various fiat methods, such as Apple Pay, Google Pay, debit cards, and credit cards.
ENS announced the launch of a new fiat on-ramp for domain registrations through Web3 fiat payment gateway MoonPay. The platform recently released version 3 of its user interface to speed up registration.
The move is aimed at making it easier for users to purchase and use ENS domains and is expected to help drive the adoption of the platform.
ENS has seen over 2.3 million names created from more than 550,000 unique addresses.
The first thorough set of regulations for the cryptocurrency business has been passed by legislators in the European Parliament. The European Parliament has adopted the Markets in Crypto-Assets (MICA) legislation, which is designed to provide regulatory clarity for cryptocurrencies and other crypto-assets in the European Union. On Thursday, the EU Parliament voted 517 in favour and 38 against passing the act.
The legislation is expected to increase transparency and stability in the market, while also protecting investors and consumers from fraud and other risks. MICA has been described as a "milestone" in the EU's efforts to regulate the digital assets industry.
Australia now has installed more Bitcoin ATMs than any other country in Asia! According to a report by Coin ATM Radar, Australia has the highest number of Bitcoin ATMs per capita than any other country in the world.
At the time of writing, Australia has 364 crypto ATMs, while the Asia continent installed 355 crypto ATMs.
The report suggests that Australia's growing adoption of cryptocurrencies and blockchain technology is driving the country's Bitcoin ATM market. Over the last eight months, Australia consistently added Bitcoin ATMs, unlike leading European nations and the United States.
Crypto ATMs, also known as Bitcoin ATMs or BTMs, are like traditional ATMs that allow users to convert crypto into fiat and vice versa.
The price of Dogecoin has been constant since the beginning of April after surging to a 4-month high. Adding to that the active address count on Dogecoin has surged to levels not seen since August 2022, going above 100k this month.
Throughout this year, the network has consistently drawn over 47,000 daily users. The active addresses have also remained above 55k over the last 30 days. The transaction fees have also soared to a new level this week.
Recently, Dogecoin gained dramatic attention from the internet following reports suggesting that Twitter would permit cryptocurrency Trading.
The United Arab Emirates (UAE) has mandated that all virtual asset service providers (VASPs) operating in the country must obtain a license. The new regulations are aimed at providing greater oversight and control over the crypto industry in the UAE, and ensuring that VASPs are operating safely and securely.
Firms operating within Dubai’s financial free zones are however exempt from having to apply for a VASP license for now. The UAE's Securities and Commodities Authority (SCA) has begun accepting license applications from crypto firms.
The main goal of this resolution is to protect investors’ funds in virtual assets from illegal practices.
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Disclaimer: This article was authored by Giottus Crypto Exchange as a part of a paid partnership with The News Minute. Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Please do your own research before investing and seek independent legal/financial advice if you are unsure about the investments.