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On Thursday, lawmakers in the European Union voted 517 to 38 in favor a new crypto licensing system, Markets in crypto Assets, also known as MiCA. With 18 abstentions. This makes the EU the world’s first major jurisdiction to introduce a comprehensive cryptocurrency law. The European Parliament voted also 529-29 for a separate law called the Transfer of Funds Regulation, which requires crypto operators identify their clients in an effort to stop money laundering. With 14 abstentions. The votes followed a debate on Wednesday in which lawmakers supported plans that would require crypto wallet providers and stablecoin issuers maintain adequate reserves and to obtain a license for operating across the 27-nation bloc.

Bitcoin dropped for the second day in a row on Thursday. It fell to $28,500 – a 10-day high. Over the past 24 hour, the world’s biggest cryptocurrency has declined 2% as traders around the globe have moved away from risky investments. TradingView data shows that Bitcoin closed below the 20-day moving median on Wednesday. This is a sign of weakness. Craig Erlam is an analyst with foreign-exchange firm Oanda. He said that the cryptocurrency’s rally this year may be on its last legs. Dogecoin, a popular meme token ( DOGE), is one of the few cryptocurrency coins that traded in the green on Thursday. It was up 5% within the last 24 hours. Some fans refer to April 20, as , “DogeDay.”

Court filings on Wednesday indicate that the sale of Voyager Digital to Binance.US could proceed before the legal appeal has been resolved, amid growing concerns about the buyer’s withdrawal. The document states that the U.S. Government has agreed to allow the majority of Binary.US $1 billion deal for the purchase of assets from the bankrupt crypto lender to proceed despite concerns about the fine print in the contract that would forgive violations of tax and securities laws. The filing suggests that until the appeal is resolved, the contentious “exculpation clauses” should be put on hold but not the rest of the deal.

Chart of the Day

  • The chart below shows the movement of bitcoin on-chain that has been dormant between seven and ten years.
  • Early Thursday, more than 5,000 Bitcoins worth $144 Million were transferred.
  • Bitcoin’s price volatility tends to increase whenever such old coins are moved.

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Mark Nacinovich is the editor.