EU regulation MiCA sent to Parliament, Biden to sign Executive Order on crypto and Ukraine uses donations

Crypto2Cash
2 min readMar 9, 2022
Photo by Thought Catalog on Unsplash

Ukraine buys protection and food from crypto donations

Ukraine has reportedly utilized $15 million worth of crypto donations to purchase various non-lethal military supplies which include bulletproof vests, night vision goggles, medical equipment, fuel, and military-grade food rations.

The update on the utilization of crypto donations was provided by Ukraine’s Deputy Minister of Digital Transformation, Alex Bornyakov, during a Zoom interview from an undisclosed location within the country.

At the time of writing, total crypto donations towards the military and humanitarian effort in Ukraine have surpassed $64.6 million.

It’s also known that the government is using a 3-of-5 multisig wallet to secure the funds amongst government officials and ministries, which is set-up with Ukrainian exchange Kuno.

Source: Coindesk

European regulation (MiCA) submitted, Committee to vote in March

The European Union’s regulatory proposal for crypto markets, MiCA, has been filed with the European Parliament. The latest version of the draft framework does not feature a controversial provision that could have effectively prohibited cryptocurrencies like bitcoin that rely on proof-of-work mining.

The rule was proposed by the factions of the Left, Greens, and Social Democrats, but later removed after sparking a backlash from the crypto industry and community. Stefan Berger decided that this backlash took away the attention from what MiCA is ment to do; regulating the industry (and not banning an algorithm)

U.S. President Biden to sign Executive Order on crypto

President of the United States Joe Biden will sign an Executive Order establishing the government’s position on cryptocurrencies.

According to an official statement issued on March 9 by the White House, the government is laying out its first strategy to protect consumers, financial stability, national security, and address climate hazards. In particular, the statement declares that:

“President Biden will sign an Executive Order outlining the first ever, whole-of-government approach to addressing the risks and harnessing the potential benefits of digital assets and their underlying technology.”

In addition, the White House announced in the press release:

“The Order lays out a national policy for digital assets across six key priorities: consumer and investor protection; financial stability; illicit finance; U.S. leadership in the global financial system and economic competitiveness; financial inclusion; and responsible innovation.”

It’s promising to see that the White House also sees innovation and advantages in cryptocurrency’s, and will go towards positive regulation.

Source: Finbold

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