Top 7 Fresh Crypto News in 2023


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Bitcoin Surges With 72% Increase

Wondering what is the best crypto to buy right now? Well, according to the best websites for crypto news such as, Bitcoin should be at the top of your list. Despite a chaotic last 12 months, experts are still bullish about the market’s future.

The fact that Bitcoin’s valuation has risen 72% despite the SEC regulations and price volatility only seems to support this forecast. Powered by the surge, the total market cap for crypto shot up to $1.2 trillion. This rate is almost 50% higher compared to the beginning of 2023. According to crypto analysts, this is a sign that the industry will continue to skyrocket for the rest of the year.

Bitcoin, as the most popular and influential e-currency, crossed $30,000 in market cap despite recent dips. Close to follow was Ether, with a valuation of $2000. This surge marked an increase of 62% compared to its most recent low.

ENS Domain Registration Offering Fiat Payment

Ethereum Name Services is reportedly aiming to make purchases easier by launching the fiat ramp-on via its payment gateway MoonPay. Fiat payment methods are now available to web3 users paying for decentralized .eth domains at the ENS protocol. The options include credit/debit cards, Apple Pay, Google Pay, and more.

New SEC Sanctions for Crypto Industry

One of the most common topics on crypto news now is the SEC’s crypto crackdown. The Securities and Exchange Commission and the crypto industry have been butting heads since the beginning of last year. Continuing this saga, the SEC has levied new fines and penalties along with the federal and several state governments.

Federal banking officials also have invested in policies that directly affect the industry. These measures are designed to discourage crypto companies from participating in mainstream finances. The risk posed by the experimental tech and the market’s instability seems to be the two main factors pushing the hand of the financial authorities.

Cryptocurrency demands new forms of speculation, especially considering the FTX fiasco of 2022. The recent surges in fines and lawsuits initiated by the SEC may be, in part, an effort to avoid a repetition of such an event.

According to Coinbase CLO Paul Grewal, the industry must prepare for a long round of high-stakes, expensive litigation against these bodies. He said, “It is important for the crypto industry to prepare itself for a long fight.”

This statement comes on the heels of comments made by the SEC chairperson Gary Gensler who has openly argued that crypto needs to be subject to the same regulations as other forms of securities. Gensler has argued that crypto works on the same principle as stock market shares and thus should be under similar laws.

Licenses Now Mandatory for VASPs in UAE

The UAE has recently announced that virtual asset service providers in the country will henceforth require a license to operate within the country. Firms within Dubai’s financial-free zones are currently excluded from the rule. However, this could be subject to change.

The UAE’s Securities and Commodities Authority has begun accepting applications for said licenses from crypto platforms. This licensing is part of the country’s ongoing mission to increase transparency and oversight in its crypto industry.

EU Announces World’s First Comprehensive Crypto Regulation

The EU has recently passed 517 against 38 votes in favor of incorporating the world’s first comprehensive framework for crypto regulation. Also called the MICA or the Markets in Crypto Act, these rules law down several important policies that will affect several sections of the crypto industry.

As the most comprehensive collection of crypto regulations to date, the MICA will impose sanctions on

  • Token issuers
  • Crypto traders
  • Crypto platforms

The Markets in Crypto Act is set to go into operation by 2024 and will work to increase transparency in the industry. These regulations will also stress openness, disclosure, and supervision in transactions. MICA is designed to reduce the risk for consumers who are buying crypto assets.

Some of the most significant measures outlined by the MICA include

  • Mandatory reserves in case of mass withdrawals for stablecoins with limitations in transactions
  • Delegating power (to the European Securities and Markets Authorities) to ban platforms in case of market threats
  • Mandatory reporting for self-hosted wallets with balances exceeding Euro 1,000
  • Necessary disclosure of energy consumption reports to combat digital pollution

The EU’s “Transfer of Funds” regulation also works to improve transparency in the crypto industry. With this rule, the European Union seeks to reduce anonymity in online transactions by requiring companies to record, screen, and communicate info on both sides of the transaction.

Crypto Better After FTX Collapse, Says Berstein

According to brokerage firm Berstein, the FTX collapse may be a good thing for the crypto market at large. According to a report published on April 17th, the demise of the crypto exchange company may have gotten rid of the “toxic crypto leverage” from the industry.

The report also argues that the collapse taught people the significance of decentralized finances. Cryptocurrencies like Ethereum and Bitcoin are being hailed as the new “safe haven asset.” In fact, following the FTX debacle, the former has updated its blockchain. As a result, Ethereum’s fees for the same have tripled in the past few months.

According to the Berstein report, the event also stressed the importance of self-custody wallets, especially considering the weakness of US regional banks and the overall concern with the centralization of finances. Yat Siu, Chairperson of Animoca Brands, also echoes this opinion in his piece for Forbes. In this interview, he states that cryptocurrency is fast becoming an “attractive alternative…to store value without those particular traditional banking risks.”

Celebrities Charges by SEC in Crypto Involvement

In a new slew of fines, the Securities and Exchange Commission is charging over 8 famous faces for their involvement in the venture promoted by entrepreneur Justin Sun. According to reports, the SEC is trying 8 celebrities, including

  • Soulja Boy
  • Austin Mahone
  • Kendra Lust
  • Lil Yachty
  • Ne-Yo
  • Akon
  • Linsay Lohan
  • Jake Paul

According to the SEC, the promotions by the celebrities on their social media did not adhere to the norms required when advertising paid services/products. Instead, the public was misled to believe that they had an unbiased interest in the crypto services propounded by Sun.




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