2 March

A new version of the Markets in Crypto Assets (MiCA) legislation removes controversial wording that would have banned cryptos like bitcoin (BTC) that rely on the proof-of- work blockchain-based algorithm. The deletion should presumably allow for a vote on the bill to go forward.

CoinDesk reported last week that European Union parliamentarians had proposed rules to prohibit crypto services reliant on environmentally unsustainable consensus mechanisms like proof-of-work starting in January 2025. CoinDesk later reported the parliament had indefinitely postponed the Feb. 28 vote after the proposal sparked a sizable outcry.

It is crucial for me that the MiCA report is not interpreted as a de facto ban on bitcoin.”

CME Group, one of the world’s largest derivatives exchanges, wants to start trading options on micro bitcoin and ether futures this month. The company, which overtook Binance as the world’s biggest bitcoin futures platform in October, plans to introduce the options on March 28.

The contracts will be one-tenth of their respective underlying tokens in size [and] are set to add to CME’s suite of micro bitcoin and micro ether futures, launched last year.

Micro-sized options will enable traders of all sizes to efficiently hedge market-moving events with greater precision and flexibility or fine-tune their cryptocurrency market exposure.”

Powell is scheduled to appear before a House panel on Wednesday and a Senate committee on Thursday to give his semiannual monetary policy update to U.S. lawmakers. The crypto community will be watching as the Fed chair will likely address topics like inflation, stablecoins and a potential central bank digital currency (CBDC).

With the Ukraine-Russia conflict accelerating, the Fed chair’s testimony comes at a time of great uncertainty. The war changes everything, politically and economically, and in regard to the handling of monetary policy.

Some analysts think the Fed will take a less hawkish stance when it comes to hiking rates amid current geopolitical tensions and the resulting pressure on traditional markets. The CME Group’s FedWatch tool currently shows traders see 0% odds of a half-percentage point hike, down from 40% odds last week.

See Also: Samson Mow Exits Blockstream to Focus on Nation-State Bitcoin Adoption

“Bitcoin (BTC) was pushing higher after surging 14% on Monday, the biggest price jump in a year.

The risks from a prolonged war prompted many crypto investors to worry that a new cloud over the economy might sap demand for bitcoin. But the market sentiment turned quickly, and now some traders are speculating that the Federal Reserve might soften any plans to tighten monetary policy aggressively.

Fed tightening won’t be severe at the start, and with yields tumbling hard, this should be an attractive time for cryptos.”

See Also: Bitcoin Decouples From Stocks Ahead of Seasonally Weak March
See Also: Bitcoin HODLers Unfazed by Macro and Geopolitical Risks

On Tuesday, Uniswap launched an interface that directly converts ERC-20 tokens to Ether (ETH). The coins are then sent to the official crypto wallet addresses of the Ukrainian government, all in a single transaction. The feature simplifies the donation process for anyone holding ERC-20 tokens on Uniswap’s list and wishes to donate.

Per data tracked by Cointelegraph, the Ukrainian government and nonprofit organizations operating in the country have received more than $53 million in donations at the time of publication.”

See Also: ‘Absolutely Surreal’: Inside a Fund Raising Millions in Crypto for Besieged Ukraine
See Also: Russian Sanctions May Test Crypto’s Proposition

“Announced in September 2021, the new STO platform is regulated within Kazakhstan’s national financial hub, known as the Astana International Financial Center (AIFC). Bitfinex Securities operates from a special economic zone in Kazakhstan.

Bitfinex Securities is debuting trading with the Blockstream Mining Note (BMN), a security token offering qualified non-U.S. investors an option to mine Bitcoin or invest in BTC mining stocks using the associated hash rate of BMN. The token is issued on the Liquid sidechain of Bitcoin.

The company continues to work closely with local regulators as well as companies seeking to raise capital on the STO platform.”

Shibuya will crowdfund production of long-form visual content – such as short films, movies or television series – by selling non-fungible tokens (NFT) called “producer passes,” disrupting the traditional studio-driven methods that now dominate the industry.

Unveiled at the Ethereum Conference in Denver on Feb. 18, Shibuya is the latest brainchild of Pplpleasr, an NFT artist who first gained mainstream attention after her Fortune magazine NFT cover raised $1.3 million.

The first Shibuya project will be an anime called “White Rabbit,” an interactive Web 3 series centered around a protagonist who goes down the crypto rabbit hole.

It’s like anime meets ‘Black Mirror’ meets crypto.

While the series will be free to watch, viewers who hold the producer passes will be able to stake the NFTs to vote for one of two alternate endings to the first episode. The option that receives the most votes will determine the main character’s plot line in the next episode.”

Canada, Russia and Ukraine Demonstrate Value of Crypto