RABIT Weekly News (W3 August 2022)

Aug 16, 2022 • 1 min read

The European Parliament stated in its press release that “Non-fungible tokens (NFTs) are unique and, unlike cryptocurrencies, are not traded or exchanged for equivalence.” Hence, NFTs will be exempt from the regulatory scope of MiCA (Markets in Cryptoassets Regulation), but new rules could be applied depending on the NFTs market evolution.
Pension funds, public institutions that manage retirement savings for public workers, are viewing crashing crypto prices as an attractive entry point. However, as pension funds recently navigated the crash, some losing more than 50% of their assets, some of them are trying to take a passive stance and restrain from making any additional investments at the moment.
Brazilian brokerage XP Inc, the largest investment management company in the country, launched a crypto trading platform that allows users to trade bitcoin (BTC) and ether (ETH). It aims to allow users to trade 10 digital currencies by the end of this year, and the estimated number of users is 3.6 million.
The chairman of the United States Commodity Futures Trading Commission (CFTC), Rostin Benham, commented on the possibility of CFTC regulating the crypto market. He added the agency is fully prepared to fulfill its duty in the future. As the cryptocurrency market continues to grow, there have been more and more regulatory agencies that deal with the crypto sector inspection.

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