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Known as the Markets in Crypto-Assets (MiCA) framework, the provisional agreement includes rules that will cover issuers of unbacked crypto assets, stablecoins, trading platforms and wallets in which crypto assets are held, according to the European Council.

From EU agrees on MiCA regulation to crack down on crypto and stablecoins.

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Stefan Berger, European Parliament member and rapporteur for the MiCA regulation — the person appointed to report on proceedings related to the bill — broke the news on Twitter, saying that a “balanced” deal had been struck, which has made the EU the first continent with crypto-asset regulation.

Most countries lack “travel rule” laws that could help prevent illicit use of cryptocurrency by criminals and terrorists

As of March, only 29 of 98 jurisdictions that responded to FATF’s survey said they had passed relevant rules and only 11 of those 29 had started enforcement and supervision on those rules, FATF said.

From Most Countries Lack Crypto Information-Sharing Laws, Watchdog Says – WSJ:

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The prevailing wisdom is that in order to compete against fintechs, digital-only banks and other new competitors gaining share among consumers, traditional financial institutions must focus on delivering advice and financial wellness tools, rather than simply being transactional.

If that is the goal, it would appear that many of the largest banks are going backwards, according to findings from the J.D. Power 2022 U.S. Retail Banking Advice Satisfaction Study. The study is based on responses from 5,177 U.S. retail bank customers who received financial advice or guidance from their primary bank in the past 12 months. The study was fielded in January-February 2022

From Consumers Expect Financial Advice: Banks Are Falling Short.

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Only 46% of customers use any digital interactive financial health tool offered by their bank, a sobering figure considering how much banks invest in their digital apps. However, as the chart above shows, customer satisfaction with how their bank supports their financial health rises sharply with use of these interactive tools.

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A 2021 study from the digital assets arm of Fidelity indicated that 70 per cent of institutional investors surveyed expected to buy or invest in digital assets in the future, and more than 90 per cent of those interested in digital assets expect to have an allocation in their institutions’ or clients’ portfolios within the next five years.

From Crypto loses its hedge role | Financial Times.

Digital assets, yes. Crypocurrencies, probably not.

But Lee Reiners, the executive director of the Global Financial Markets Center at Duke Law School,

He also thinks that crypto’s boom over the past two years was a product of loose Federal Reserve monetary policy during the pandemic, rather than any inherent trait that gave cryptocurrencies a leg up over other investment vehicles.

From Crypto Should Be Banned, Blockchain Has No Value: Former Fed Regulator.

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Zilch lets users make purchases in the real world with a virtual Mastercard, with which they can choose between paying in full to receive cash back and rewards points and splitting a purchase into four installments.

From Zilch BNPL Service Raises $50 Million As Rest of Sector Slumps.

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The shift to cashless society must be planned to help these groups so that they share in the benefits of cashlessness.

From Cashless Does Not Mean What You Think It Means:

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PSD2 should be merged with the Electronic Money Directive, says the European Banking Authority (EBA) in response to the EC’s call for feedback on the directive.

From EBA calls for PSD2 and E-Money Directive to be merged:

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The shift to cashless society must be planned to help these groups so that they share in the benefits of cashlessness.

From Cashless Does Not Mean What You Think It Means:

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As crypto markets continue to crash with Bitcoin briefly dipping below $20,000 USD earlier this month and Ethereum nearing $1,200 USD, the recently opened Bored Ape Yacht Club restaurant, Bored & Hungry, has reportedly stopped accepting ApeCoin and any form of crypto altogether.

From BAYC’s Bored & Hungry Restaurant Stops Accepting Crypto | HYPEBEAST:

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