Welcome to the NiceHash crypto news digest. Let's see what happened these last few days.

Europe votes in the MiCA framework, the first regulations of its kind

The European Union voted  on Thursday in favor of a new crypto licensing regime, Markets in Crypto Assets, which is popularly known as MiCA, making the EU the first major jurisdiction in the world to introduce a comprehensive crypto law.

The European Parliament also voted in favor of a separate law known as the Transfer of Funds regulation, which requires crypto operators to identify their customers in a bid to halt money laundering.

The votes followed a Wednesday debate in which lawmakers largely supported plans to make crypto wallet providers and exchanges seek a license to operate across the bloc of 27 nations and require stablecoin issuers to maintain sufficient reserves. 

The news was welcomed positivley by many people and businesses in the crypto community, as the ruling lays the foundations for future innovation in the crypto sector, as well as providing reassurances for retail investors.

Terraform Labs Co-Founder Do Kwon Faces Montenegro Indictment

Prosecutors in Montenegro have submitted an indictment proposal for Terraform Labs co-founder Do Kwon, according to a report by Bloomberg Law, citing reports by Montenegrin newspaper Vijesti.

Kwon, along with Terraform Labs Chief Financial Officer Han Chang-joon, was arrested and charged with forgery in Montenegro last month. That arrest was followed by request for extradition, though for now it is unclear to which country he is to be extradited. He faces criminal charges in both his native South Korea and the U.S.A

Russia Plans to Mine Crypto for Cross-Border Deals

The Bank of Russia is working on a bill that will introduce an “experimental legal regime” for cryptocurrencies to be used exclusively in export-import deals, the head of the regulator, Elvira Naiullina, said on Monday, according to Russian news agency TASS. Crypto trading and payments inside the country Russia must stay banned, added Naiullina, in order to prevent the devaluation of the ruble.

The government is also working on a bill that will create a national agency to license and supervise cryptocurrency platforms operating in Russia.

Mining however is allowed to operate. You can start mining with us here with no hardware, try our new EasyMining platform.

Coinbase CEO Reveals Possibility of Relocating HQ to the UK

Brian Armstrong, CEO of Coinbase, announced during the recently held FinTech Week in London that the company is considering moving its headquarters to the United Kingdom if the regulatory environment in the United States doesn’t improve.

The company can opt for this move to seek regulatory clarity in light of the US regulatory environment becoming challenging for crypto companies. Armstrong emphasized that the UK is the company’s second-biggest revenue market after the US, and relocating to the UK is on the table.

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