Cryptocurrency Market Update as of December 23, 2024
Regulation and Guidelines:
Implementation of MiCA in Europe 🇪🇺: The Markets in Crypto-Assets Regulation (MiCA) will come into effect on December 30, 2024, establishing a regulatory framework for the issuance and related services of crypto-assets in the European Union. Pablo Urbiola, Head of Digital Regulation at BBVA, highlights that MiCA will enhance transparency and governance in the industry, eliminating projects without solid foundations and offering greater opportunities to regulated companies, such as financial entities.
BME Surveillance Service 🕵️♂️: Bolsas y Mercados Españoles (BME) has adapted its SICAM surveillance service to monitor potential market abuses in cryptocurrencies, aimed at digital asset providers and financial entities, in preparation for the MiCA regulation.
Market and Prices:
Bitcoin surpasses 100,000 dollars 🚀: Bitcoin has maintained its price above 100,000 dollars for the past week, reaching an all-time high of 108,000 dollars. Institutional demand has been key in this increase, with companies like MicroStrategy significantly increasing their Bitcoin holdings.
Recent correction in the market 📉: Recently, Bitcoin has experienced a correction, falling to 95,000 dollars, influenced by monetary policy decisions from the U.S. Federal Reserve.
Considerations for Investors:
Investors are advised to stay informed about current regulations and carefully assess the risks associated with investments in crypto-assets, given their volatile and speculative nature.