The latest crypto news from the weekend awaits you in U.Today’s News Digest!
What’s new in the world of crypto? Read the top four news stories from last weekend to find out!
EU cracking down on unhosted wallets
Patrick HansenThe head of development and strategy at decentralized finance start-up Unstoppable Finance started a worrying Twitter thread, calling on the European Parliament to include unhosted wallets in the anti-money laundering package as part of the money transfer regulation. going to vote. While the FATF travel rule requires businesses to verify transactions in excess of EUR 1,000, the draft does not include any lower limits, meaning all crypto transactions will be accompanied by the sharing of personal information.
The Committee on Economic Affairs is set to vote on the non-anonymization of all cryptocurrency transactions in self-hosted wallets tomorrow, March 29.
Garlinghouse Lawyers Seek Immediate “Sanction” Against SEC After Improper Conduct
In his recent letter to Magistrate Judge Sarah Netburn, Wave Lawyers for the officers have condemned the SEC’s conduct and called for an immediate “ban” against the regulator. Lawyers say the SEC has “not fulfilled its burden to prove” that Dr Metz’s last-minute “expert report” is relevant to the trial and will not adversely affect the outcome. Also, according to the letter, Dr. Metz’s unauthorized reply added entirely new ideas that were not present in his original report.
The SEC’s questionable conduct and general lack of transparency “need sanctions,” Garlinghouse’s attorneys said.
Madonna Now Bored App NFT . owns
queen of pop, the mother of jesus, has joined forces with Justin Bieber and Eminem to buy a boring app NFT, according to her announcement on Instagram. The superstar’s NXT piece features a rugged looking ape, dressed in a black leather cap, which matches the style of its new owner. However, Madonna’s fans were not impressed by her entry into the NFT, some of them even saying that the pop star is destroying her musical legacy by promoting questionable crypto projects.
Madonna is not new to the crypto industry. In 2018, he Blockchain company partnered with Ripple To raise funds for orphans in Miami.
Cardano poised to hit major interoperability milestone with launch of EVM-compatible Layer 2
cardano Milcomeda, an EVM-compatible Layer 2, may be set to hit a major interoperability milestone. The Milkomeda C1 mainnet launch is expected on March 28. Earlier, Milkomeda launched a bridge testnet between Cardano and Ethereum. Now, the bridge is expected to go live in the mainnet. Once deployed, assets can be sent back and forth between the two blockchains via the bridge. Users holding tokens on a connected chain can transfer these assets to Cardano and vice versa. Once wrapped, these tokens become native assets on the Cardano mainnet and function similarly to native assets on Cardano.