Here is what happened yesterday in the crypto market:
Bitcoin Approaches $100K Amidst US-China Trade Deal Optimism
Bitcoin is trading above $97,000 as hopes rise for a US-China trade deal, although potential seasonal bearish trends loom in May. Traders are closely watching for a breakout towards $100,000. Read more
UK’s FCA Seeks Input on Crypto Regulation
The UK’s Financial Conduct Authority (FCA) is requesting public and industry feedback on crypto regulations, covering intermediaries, staking, DeFi, lending, and borrowing. This suggests a comprehensive approach to regulating the crypto space in the UK. Read more
Kraken Reports Increased Revenue and Trading Volume in Q1 2025
Crypto exchange Kraken saw a 19% year-over-year increase in revenue, reaching $472 million in Q1 2025, with trading volume also rising by 29%. This growth happened despite a softening crypto market, indicating strength in Kraken’s operations. Read more
US Treasury Targets Huione Group for Crypto-Related Illicit Activities
The U.S. Treasury Department is moving to block Cambodia-based Huione Group from the U.S. financial system, accusing it of laundering $98 billion in crypto since 2014 and aiding North Korea’s Lazarus Group. This action highlights increased scrutiny on crypto-related financial crimes. Read more
EU to Ban Anonymous Crypto Transactions by 2027
The European Union plans to ban anonymous crypto transactions and privacy-preserving tokens by 2027 under new Anti-Money Laundering (AML) rules. This move aims to increase transparency and combat illicit activities but raises concerns about privacy. Read more