Happy Monday, Blockfolians
According to the European Parliament Research Service, EU regulators should have even more oversight into a broader range of crypto businesses than 2018’s often maligned Fifth Anti-Money Laundering Directive (AMLD5). The report argues that certain types of mining activity need more oversight, as well as suggesting that some crypto entities like crypto-to-crypto exchanges simply aren’t covered.
The report isn’t surprising. But it is a reminder that crypto is likely to get more, not less regulated as time goes on. Can key values of decentralization and anonymity survive the maturation of the industry as a whole?
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Highly Relevant Reading
Blockchain analytics continues to prove itself to be a booming emergent industry, with new entrant Huobi
Binance moves to compete with Deribit on mobile-based bitcoin options
Square has been approved to lend out funds to ailing small businesses via the new Paycheck Protection Program
As Telegram’s token continues to be blocked by legal trouble, one crypto exchanged focused on the offering shuts down
One of the fundamental shifts of Covid-19? A prioritization of resilience over efficiency, according to Preston Byrne.
One bitcoin dev has released a workable proposal for on-chain storage (aka “bitcoin vaults”)
A Really Big Number We Should Be Paying Attention To
That’s the amount that miners stand to make on the other side of the bitcoin halving, down from ~$13.4m today. Of course this makes sense - it’s half, after all - but it’s important as we think through the implications to speak in specific terms.