26 February

ECB President Christine Lagarde says it’s “critically important” for the so-called MiCA legislation to be pushed through as soon as possible.

There are always criminal ways to try to circumvent a prohibition, which is why it’s so critically important that MiCA is pushed through as quickly as possible so we have a regulatory framework.

The Markets in Crypto Assets (MiCA) legislation has been worked on for several years to provide a structure for broadly regulating the burgeoning cryptocurrency market. A vote on its passage was supposed to take place on Feb. 28, but was suspended indefinitely today on criticism that wording in the bill could overly restrict or even ban the energy-intensive proof-of-work process that secures the Bitcoin (BTC) network.

While there’s been lots of speculation on how Russia might make use of cryptocurrency networks to assist in evading stringent financial sanctions imposed by the EU and U.S., many legal and blockchain experts aren’t convinced it’s possible.”

See Also: European Parliament Postpones Vote on Crypto Regulations Indefinitely
See Also: Former CFTC Chair Giancarlo on Russian Sanctions, CBDCs and Dollar Hegemony

Major investment bank BNY Mellon is developing a digital asset custody platform that will allow institutional customers to gain crypto exposure. Customers will be able to store Bitcoin (BTC) and Ether (ETH) in BNY Mellon crypto wallets.

BNY Mellon also suggested it will be “the first to enter” the global digital custody market. According to the report, Mellon intends to begin with the United States before expanding worldwide based on demand. The new service, according to the investment bank, is expected to be offered later this year.

BNY Mellon recently partnered up with Chainalysis, a blockchain data and analysis firm, to utilize Chainalysis compliance software within its risk management system.”

“Vladimir Putin is ready to send to Minsk a Russian delegation.

Still, the situation was unstable, especially after Russian forces intensified attacks on Ukraine’s capital.

Some investors expect the rebound in crypto prices to continue because of the spike in volatility. Bitcoin’s one-week implied volatility jumped to an annualized 75% on Thursday, topping the one-, three- and six-month gauges, similar to what occurred after the May 2021 crash. Further, bitcoin’s inverted volatility structure typically precedes price bottoms.”

See Also: Bitcoin whales fuel BTC price comeback as stocks brush off Russia-Ukraine shocks
See Also: US Sanctions Russian President Vladimir Putin

“In the wake of Russia’s incursion into Ukraine, crypto users have taken it upon themselves to raise money in support of the beleaguered nation. To that end, decentralized autonomous organizations, better known as DAOs, are spinning up to help those hurt by the invasion.

Political activist and critic of Russian President Vladimir Putin, Nadya Tolokonnikova, better known as a founding member of “conceptual protest art group” Pussy Riot, announced Ukraine DAO via Twitter today, alongside Trippy Labs and members of PleasrDAO.

Elliptic reported today that there had been a spike in Bitcoin donations to a pro-military Ukrainian NGO in the last 24 hours. While that organization plans to aid soldiers with weapons and medical aid, Ukraine DAO is using its star power to help the citizens of Ukraine. The drop will consist of 10,000 Ukrainian flag NFTs minted on Ethereum, with all proceeds benefiting the Return Alive Foundation and NGO Proliska.

Our goal is to raise funds to donate to Ukrainian civilian organizations who help those suffering from the war that Putin started in Ukraine.

Creating a DAO is a good way to get international and Web3 attention and give the Ukrainian people a voice. This is exactly what DAOs are for, making change offline in the real world harnessing the power of blockchain.”

“NFT Worlds is a project built on third-party Minecraft servers with a Polygon-based overlay. NFT Worlds gives players a metaverse experience in an existing game, which is big news for Minecraft fans and NFT collectors alike.

NFT Worlds’ blockchain layer on Minecraft will allow players to access Web3 features, such as an online shop where they can buy items for their Minecraft experience using the $WRLD ERC-20 token.

The Defiant: Zero chance Russia will bypass SWIFT using crypto