Cryptocurrency

Bitcoin and other risk assets could stand to benefit from a weakening job market and increasing unemployment in the United States, the world’s largest economy.The unemployment rate in the U.S. increased to 4.1%, surpassing the previously anticipated 4.0% and reaching its highest level since December 2021.The U.S. economy added 206,000 jobs in June. While this is above the expected 191,000, it is considerably lower compared to the 272,000 jobs added in May, which was subsequently revised to 218,000, according to the nonfarm payroll data published by the Bureau of Labor...

In a significant move to bolster Anti-Money Laundering (AML) measures, the European Banking Authority (EBA) announced the extension of Travel Rules guidelines to crypto service providers and their intermediaries.Crypto exchanges operating in the European Union will be subject to Regulation (EU) 2023/1113 (Travel Rule guidelines) from Dec. 30, which mandates reporting information on transfers of funds and crypto assets.Source: EU Banking AuthorityAs a result, crypto asset service providers (CASPs), as defined in the EU’s Markets in Crypto-Assets Regulation (MiCA), will be subject to the EU’s Anti-Money Laundering/Countering the Financing of...