Adoption Friday: Hottest Blockchain News of the Week
Hey everyone,
Welcome back to Adoption Friday with adoption news from around the world. In this week’s batch:
- 🇻🇺 Vanuatu’s upcoming crypto regulation
- 🇯🇵 Japanese institutional investors bullish on crypto
- 🇪🇺 MiCA regulations set to impact EU crypto landscape
🇻🇺 Vanuatu’s upcoming crypto regulation
Vanuatu is expected to pass a new law regulating digital assets and service providers by September. The bill has been in the works for a few years but had been delayed due to changes in the country’s cabinet. The bill will establish licensing and registration requirements for virtual asset service providers (VASPs) in the country, allowing them to operate legally within Vanuatu. This is in response to standards set by the Financial Action Task Force (FATF), which requires countries to assess and mitigate risks associated with crypto service providers and activity. The bill will also set penalties for individuals and corporations carrying out VASP activities without a license.
Our take:
Vanuatu’s upcoming law for regulating digital assets and service providers is a significant move towards compliance with international standards. Establishing clear licensing and penalties ensures a trustworthy environment for crypto activities
Read more here.
🇯🇵 Japanese institutional investors bullish on crypto
A survey conducted by financial services firm Nomura Holdings and its digital asset arm Laser Digital in Japan shows that 54% of Japanese institutional investors plan to invest in cryptocurrency over the next three years. The main reasons for their interest include portfolio diversification, high return potential, low correlation to other assets, and hedge against inflation. Most managers prefer to allocate 2–5% of their assets to crypto.
Our take:
It’s exciting to see 54% of Japanese institutional investors planning to dive into crypto. Their interest in portfolio diversification and inflation hedging underscores the growing acceptance and potential of digital assets.
Read more here.
🇪🇺 MiCA regulations set to impact EU crypto landscape
The new MiCA regulations in Europe will impact the cryptocurrency industry, particularly stablecoins and crypto asset service providers. The regulations aim to bring legitimacy and regulatory clarity to the industry but may also lead to market disruption. Crypto exchanges may delist non-compliant stablecoins, and users can expect enhanced consumer protection measures. The regulations will require crypto firms to stay informed about changes and meet strict authorization requirements, potentially leading to increased competition and market entry for institutional players.
Our take:
The new MiCA regulations in Europe are set to bring much-needed legitimacy and clarity, though they might shake up the market initially. As exchanges adapt and consumer protections strengthen, we foresee a more robust and competitive landscape.
Read more here.
And that’s it! What do you think about this week’s adoption news? Let us know in the comments!
