Top Stories that Moved Crypto Markets
32 ECON committee members voted against banning PoW-based cryptocurrencies within the EU, while Meta CEO Mark Zuckerberg disclosed users would soon be able to mint NFTs on Instagram. |
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🔴 European Parliament Says No to PoW Ban |
| Russia started a war, and the world rallied together in a unified voice to rebuke them strongly. The US and the EU responded with tough economic sanctions targeted at crippling the Russian economy and isolating it from global commerce. These sanctions started taking effect with the Russian ruble hitting an all-time low, crude oil hitting high price points, inflation disrupting the economic flow, etc.
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👮 Kazakhstan Shuts Down 100 Illegal Crypto Mining Farms |
| Energy consumption has become a major problem for a lot of countries hosting crypto mining farms. While some countries have completely banned crypto mining and termed it "illegal," other countries remain somewhere in between. |
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🐊 NFTs Are Coming to Instagram Soon, Says Mark Zuckerberg |
| Seeing big companies jump on trends is nothing new, especially when it's a company run by Mark Zuckerberg. While speaking at a conference in Texas this week, the Meta CEO disclosed Instagram would integrate NFTs on its platform soon. When asked for a timeline, he stated, "hopefully, in the coming months." |
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🔰 FTX, Kuna, and Everstake Partner with Ukrainian Government to Launch Crypto Donation Site |
| Ukraine has been experiencing unjustified aggression and invasion from Russia. The sovereign nation has had to withstand heavy shelling by the Russian military in an attempt to subdue the nation. The US and EU have shown firm support for Ukraine and imposed sanctions on Russia for its actions. |
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👍 Ukraine Signs Crypto Regulatory Framework into Law |
| Ukrainian President Volodymyr Zelensky signed a legal framework into law that helps the country regulate cryptocurrency operations within its borders. The bill, "On Virtual Assets," requires that crypto exchanges and corporations handling virtual assets register with the Ukrainian government to operate legally and, by extension, permits Ukrainian banks to open accounts for the corporations. |
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