Sa. Apr 20th, 2024

• Binance has reportedly pulled out of Austria, shifting its focus to MiCA compliance in Europe.
• Crypto ETPs saw an inflow of $199 million last week, the largest since July 2022.
• The Supreme Court ruled in favor of Coinbase, issuing an order to move the user lawsuit into arbitration.

Binance Pulls Out of Austria

Binance has reportedly pulled out of Austria and is now focusing on MiCA compliance in Europe instead. This shift comes as more countries are introducing regulations for crypto exchanges in order to protect investors from fraud and other risks associated with digital assets.

Crypto ETPs See Record Inflow

Last week saw a record inflow of $199 million into Crypto Exchange Traded Products (ETPs), the largest such number since July 2022. This marks a significant increase from the average inflow over the past few months, indicating that investors are increasingly interested in investing in cryptocurrencies through traditional financial instruments such as ETFs and ETPs.

HSBC Offering Bitcoin Futures

HSBC’s customers in Hong Kong can now trade Bitcoin and Ethereum futures through exchange-traded funds (ETFs). This further expands the range of investment options available to customers, allowing them to diversify their portfolios with digital assets without having to buy them directly.

Bitcoin Breaks $31k Mark

Bitcoin prices have continued to rise throughout the weekend, breaking through the $31k mark for the first time since December 2021. This surge follows a period of relative stability for Bitcoin prices after recent slumps, suggesting that investor confidence is slowly returning after several months of uncertainty surrounding regulation and taxation laws around cryptos.

Supreme Court Rules In Favor Of Coinbase

The US Supreme Court ruled in favor of Coinbase this week, issuing an order to move user lawsuits into arbitration instead of class action lawsuits against it. By doing so, Coinbase will be able to settle disputes with customers on an individual basis rather than having a group lawsuit brought against it by aggrieved users who believe they have been wronged by Coinbase’s services or practices.

Von admin