mmaph1chasa

@mmaph1chasa

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After the rain, sunshine emerges and everything feels steaming hot.

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Although the ESMA acknowledged that deposits and withdrawals of non-MiCA-compliant stablecoins are not prohibited, it stressed that European crypto asset services providers (CASPs) should “prioritize restricting services that facilitate the acquisition” of such assets, citing its guidance issued on Jan. 17, 2025.

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“These services are therefore not explicitly prohibited under Titles III and IV of MiCA,” the representative added.

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“Under MiCA, custody and transfer services do not in themselves constitute an ‘offering to the public’ or ‘seeking admission to trading’ of non-compliant asset-reference tokens or e-money tokens,” a spokesperson for the ESMA told Cointelegraph on March 4.

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The Bybit exploiter managed to launder over 50% of the stolen funds within a week since it hacked the exchange, despite onchain analysts exposing their identity.

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Elliptic’s intelligence API flagged 11,084 crypto wallet addresses suspected of having links to the Bybit exploit. The list is expected to grow amid ongoing investigations.

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Nearly a quarter of the 200 largest cryptocurrencies have sunk to their lowest price levels in over a year, prompting analysts to predict a potential market capitulation and a possible rebound for altcoins.

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https://warpcast.com/mmaph1chasa/0x29ed2324

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“Regardless, I see it as being positive for both, even if the above reasons likely aren’t the only factors in this shift,” added the analyst

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Ether supply moving off exchanges is a “generally bullish” signal, according to Nicolai Sondergaard, research analyst at Nansen crypto intelligence platform.

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The diminishing Ether supply on exchanges suggests investors are moving their ETH into cold storage wallets for long-term holding.

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However, Ether has struggled to gain momentum over the past year, falling over 3.67% on the yearly chart and declining over 19% year-to-date (YTD), TradingView data shows.

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However, a Coinbase spokesperson told Cointelegraph that relistings are possible if stablecoins “achieve MiCA compliance on a later date.”

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As Cointelegraph reported, Coinbase moved to delist USDt and other noncompliant stablecoins in Europe in anticipation of the Markets in Crypto-Assets Regulation (MiCA).

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“There are a lot of people with Tether, and we want to give them an off-ramp if we want to help them transition to a system that we think is more secure,” Armstrong said.

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In the meantime, Coinbase intends to continue offering USDt services to help customers access other crypto assets.

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In an interview with The Wall Street Journal at the World Economic Forum in Davos, Switzerland, Armstrong said he expects stablecoin laws to become clearer in the near future. Two requirements could be that all stablecoin operators in the United States fully back their tokens with US Treasury bonds and complete periodic audits.

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Coinbase CEO Brian Armstrong believes forthcoming US stablecoin regulations could require issuers to back their dollar-denominated tokens entirely with US Treasury bills — a move that could make it harder for offshore companies to serve the American market.

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Based in Singapore, Crypto.com is active in 90 countries. Its expansion follows a recently granted in-principal approval for a MiCA license, which will allow the exchange to operate throughout the European Union.

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Wall Street giants such as BlackRock and Fidelity also joined the crypto markets in 2024 with crypto exchange-traded funds and tokenized assets. A more comprehensive framework for digital assets would likely boost institutional demand for crypto-related products and services.

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