PoW evades EU bans, two DeFi protocols suffer a total of $ 11 million in hacks, BAYC does ApeCoin airdrop: Hodler’s Digest, March 13-19

Come every Saturday, Hodler’s digest Helps keep track of all the important news articles that happened this week. A week of Cointelegraph with one link, including the best (and worst) citations, recruitment and regulatory highlights, major coins, forecasts, and more.

Top story of the week

Ukrainian President signs legislation to establish a cryptographic regulatory framework

Cryptocurrency regulations have been approved by Ukrainian President Wolodimir Zelensky, and a bill entitled “About Virtual Assets” was signed by the President to open the door to government oversight of the domestic cryptocurrency industry. rice field.

“The signing of this law by the President is another important step in removing the crypto sector from the shadows and launching a legal market for virtual assets in Ukraine,” said the Ministry of Digital Transformation of Ukraine. ..

In particular, the bill specifies that the Ukrainian National Securities and Equity Markets Commission will govern the industry at multiple levels, including licensing for digital assets.

European Parliament votes against PoW ban and provides great relief to the crypto industry

An important European Union (EU) regulatory bill known as Markets in Crypto Assets (MiCA) has advanced, leaving the wording that it essentially bans Proof of Work (PoW) crypto assets in the region.

MiCA, a broad EU cryptographic regulation bill, has discussed two drafts. One is basically a version that bans cryptocurrencies associated with PoW mining, and the other is a version that hosts more lucrative words about technology. On the economic and monetary issue, we voted for an option that did not ban PoW. The bill is currently undergoing a further approval process.

It’s official: Binance secures a license to work in Dubai

It was a busy week for crypto exchanges with regulatory approvals in multiple jurisdictions. Binance has secured licenses in Dubai and Bahrain. FTX has also obtained a Dubai license.

Thanks to the Locally Secured Virtual Asset Service Provider (VASP) license, Binance is now able to set up an office in Dubai, among other new rights granted by the license. In addition, Binance has obtained a Virtual Asset Exchange (VAX) license in Dubai. FTX also revealed that it has received a Dubai VAX this week.

With the announcement of ApeCoin, the minimum price of BAYC soars to near ATH before correction

Owners of the Bored Ape Yacht Club (BAYC) NFT are in a position to receive a significant amount of ApeCoin (APE), a new governance and utility token for the project. APE is an ERC-20 token.

If you do so within 90 days from March 17th (12:30 pm UTC time), BAYC owners can charge 10,000 APE. It’s worth a total of $ 72,000 at the time Cointelegraph covered it in the article linked above. For a list of planned APEs for FTX, Gemini, and other exchanges.

BAYC NFT trading volumes and pricing have seen the turmoil surrounding APE Token News. Other reported detailsThe token has a supply of 1 billion.

Members of the Diem team will raise $ 200 million to launch a blockchain derived from it

Two former meta-cryptographic leaders, Avery Ching and Mo Shaikh, are building a layer 1 blockchain with some of their roots based on the Libra project’s programming language, Move. $ 1 million worth of funding contributed by names such as Coinbase Ventures and Andreessen Horowitz. Aptos aims to bring the mainnet up and running in late 2022.

Published in early 2022Turned to Facebook-Meta’s stablecoin Diem essentially ended its journey, with Silvergate Capital Corporation purchasing project gist (intellectual property, etc.) from Meta.

Winners and losers

Bitcoin (on weekends)BTC) $ 41,727,ether(ETH) and $ 2,936 When XRP and $ 0.79..Market capitalization $ 1.87 Trillion, according to To CoinMarketCap.

Among the largest 100 cryptocurrencies, the top three altcoin winners this week are ApeCoin (Apes) 1,338.31%, Aave (AAVE) 38.53% and THOR Chain (Rune) At 37.67%.

Top 3 altcoin losers this week are anchor protocols (ANC) -19.20%, stack (STX) -9.20% and Kadena (KDA) -At 9.18%.

Be sure to read more about crypto prices Cointelegraph market analysis..

The most memorable quote

“If you’re an avid crypto trader like me, I’m sure you’ve come up with the idea of ​​who will inherit your crypto.”

Jeetu KatariaCEO of Digital Financial Exchange (DIFX)

“Drink orange pills at your neighbors, your favorite stores, bars and cinemas and share your sat. They can easily learn from a known face like you. A small throw into the lake. It becomes a pebble and ripples are born. Generations will benefit. “

Paco delinedBitcoiner and runner

“Our hope is when the government conducts this investigation. [as established by the executive order], […] The conclusion they reach is that they do not compete with China (authoritarian dictatorship) by acting like an authoritarian dictatorship. Instead, we empower the private sector to come up with competitive solutions. “

Jake ChelbinskiCentral Bank Digital Currency Blockchain Association Policy Officer

“The Creator is where power begins and needs to stay there.”

Darryl McDanielsFounding member of Run-DMC

“My office is burdened with information from SEC Chair @GaryGensler, who reports” requests “to the crypto community, especially … I don’t feel voluntary and hinder innovation, crypto and crypto and Received many tips from blockchain companies. “

Tom EmmerUnited States Representative

“There is no doubt that blockchain games are an innovative concept, but at this point I don’t think that’s enough to help me financially. […] Once the P2E ecosystem has matured and become sustainable, I think we have enough courage to quit our job to pursue blockchain games. “

Jesus Dawal Jr.Filipino gamer

“With proper research and understanding, regulators can find a much easier time to regulate DeFi and prevent malicious behavior compared to traditional financial infrastructure. “

Eric ChenCo-founder and CEO of Injective Labs

“Technology should not be defined in the worst case. […] Cryptography is more important than ransomware, just as money is more than money laundering. “

Ritchie TorresU.S. House of Representatives

This week’s forecast

Bitcoin faces a new “milestone” in 2022 as the new forecast predicts BTC prices in “millions”

Last week, Bitcoin, crypto’s biggest asset, traded for both less than $ 38,000 and more than $ 41,000 in seven days. Cointelegraph BTC Price Index..

Based on the global situation, Bloomberg Intelligence’s Mike McGlone and former BitMEX Brass Arthur Hayes both see Bitcoin as the ultimate leader.

McGlone sees the current situation as potentially useful for BTC.

Meanwhile, Hayes sees Bitcoin earning more than $ 1 million in value per coin based on the events it’s currently rolling out, but it’s been a decade long when BTC first suffered price cuts. Pointed out the period.

This week’s FUD

Blockchain Forensics Company Finds Millions In Authorized Cryptocurrency Wallets

Elliptic, a costume for blockchain analysis, came across a particularly interesting cryptocurrency wallet. This can lead to prominent sanctioned Russians. The contents of the wallet are not shown in detail, but are worth millions of dollars in total.

Elliptic co-founder Tom Robinson told Bloomberg, “It is not realistic for the oligarchs to completely avoid sanctions by transferring all their wealth to cryptography.” It’s not a silver bullet. “

Millions of crypto addresses have been tracked for crimes related to Russia, and hundreds of digital asset services have facilitated anonymous crypto swapping through the Russian ruble, based on Elliptic’s research.

RBI seems to want to ban cryptocurrencies, but not for the reason you might think

The Reserve Bank of India (RBI), the central bank of India, has expressed its desire to ban crypto assets, according to a statement released this week. The RBI fears that the adoption of cryptography could undermine the use and control of India’s home currency, the rupee. Causes other problems.

“Historically, private currencies have caused instability and have therefore evolved into fiat currencies over the centuries,” the RBI said in a statement. […] Without considering the turmoil it brings to the legal, social and economic structure of society. “

Bad luck: Agave and Hundred Finance DeFi Protocols Exploit for $ 11 Million

Decentralized Finance (DeFi) solutions Hundred Finance and Agave have been exploited for $ 11 million by attackers who have exploited the Ether (WETH) contract feature wrapped in the stable payment platform Gnosis Chain. Simply put, the attacker was able to drain more money. By continuously borrowing for the same collateral they were posting.

The $ 11 million amount was stolen through various crypto assets, including the aforementioned wETH, but also the wrapped BTC (WBTC), Chainlink (LINK) and USD Coin (USDC). Survey.

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No need to get angry with NFTs

If you’ve never been angry with JPEGs, you don’t have to be angry with JPEGs that people can own.

“We don’t like our money”: Africa’s CFA and Bitcoin story

African crypto experts and entrepreneurs explain why the CFA franc is an offensive currency and why Bitcoin is rippling instead.

Russia’s central bank goes to war: is cryptocurrency an ally or an enemy?

Moscow policymakers are struggling to rethink their approach to digital currencies as one of several ways to protect an increasingly isolated economy.

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