Hello Hivers my name is Lucky Ali and most welcome to my new blog. The crypto market is going through a great phase and we are really happy to see it, where Bitcoin has made a new ATH of $108,268.45 in 2024. Although the cryptocurrency market is currently seeing a slight decline which is not good, and expected that the rise in Bitcoin crypto will lead to a boom in the entire cryptocurrency market. But amid this boom, there are many countries have tightened the cryptocurrency rules and released new cryptocurrency regulation updates in their respective countries. Recently, there has been news from Europe that has given rise to the global cryptocurrency ban possibility.
Tether (USDT) likely to be banned in Europe
The world's largest stablecoin that name is Tether, may become illegal in countries of Europe. This move related to the ban on Tether (USDT) crypto can be taken under the new MiCA rules to be implemented by the European Union and MiCA means markets in crypto assets. MiCA aims to provide transparency and stability in the crypto ecosystem of Europe. within three days this move can come into effect and this particular move can bring big changes to the crypto market of Europe. Under MiCA, digital assets or virtual currencies will be regulated in the European Union, which is considered important for the cryptocurrency industry.
Crypto mining ban in Russia
After Europe, Russia has also announced a ban on crypto mining and this is not good news at all this move will come into effect from January 1, 2025, which means from tomorrow. This crypto mining ban will remain in effect for 6 years and will expire on March 15, 2031, and this is the longest period. The crypto mining ban will apply to 10 regions of Russia, including Ingushetia, Dagestan, Kabardino-Balkaria, North Ossetia, Karachay-Cherkessia, Chechnya, Donetsk, Zaporizhia, Luhansk, and Kherson. So why russing is doing this? The reason is controlling energy consumption.
Changes in crypto regulations in Japan and other countries
Talking about Japan country then it is also considering changes in its Crypto rules so that crypto assets like Bitcoin can be regulated better. This move of Japan country also seems to be in line with the cryptocurrency strictness of other countries. However, how much negative or positive impact this change will have will be known only in the near future so we have to wait for it but we can consider it as positive news too.
So Europe, Russia, and Japan are the major countries in the world and if these countries are doing something with cryptocurrencies then it will definitely going to effect the market. But I am not spreading fud bu we have to consider it. We can take it as positive change too but now it is up to you how you think. please share this post on social media and also share your views below in the comment section. Have a good day.
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 | Hi I am lucky ali from gujarat, india. I am a crypto enthusiast, blogger, and SEO developer. I am always interested in learning new things and getting new experiences. You can find me on hive, twitter and discord (Lucky Ali#6343). Sharing is caring, Thank you hive family ♥ |