The EU wants to ban anonymous cryptocurrency wallets by 2024

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Weekly Market Summary

For card holders that wish to pay for items using cryptocurrencies, Mastercard will employ the USDC stablecoin as a bridge asset. It is the first stablecoin that will let cryptocurrency holders spend their digital assets at retailers that accept Mastercard cards.

The USDC will act as a bridge between the cryptocurrency in customers’ digital wallets and the fiat currency paid to merchants. USDC is a digital token that nearly always trades at 1$ because the issuer promises to redeem it 1-for-1 using greenbacks at any time.

Three U.S. senators are calling to forbid American athletes from using China’s digital yuan at the Winter Olympics in Beijing in February 2022.

The Republican legislators stated in a letter to the chair of the United States Olympic and Paralympic Committee that the “digital yuan is completely controlled by the People’s Bank of China, and can be tracked and traced by the central bank.”

In turn, Chinese Foreign Ministry spokesperson Zhao Lijian called for the U.S. politicians to “abide by the spirit stipulated in the Olympic Charter,” and asked them to “stop making sports a political matter and stop making troubles out of the digital currency in China.”

Quick weekly news:

• Polygon launches blockchain gaming and NFT studio
• Majority of institutional investors ready to buy digital assets
• DOGE Continues to Bleed Despite Elon Musk’s New Profile Picture
• Bitcoin falls to sixth for daily revenue, with just 12% of Ethereum’s fees

Other notable events include:

– EU wants to ban anonymous cryptocurrency wallets
– Bitcoin has climbed above $31,000

The EU wants to ban anonymous cryptocurrency wallets by 2024

The European Commission (EC), the EU’s executive body, announced a new proposal, calling for more stringent regulation of anonymous cryptocurrency wallets and transactions. According to the document, the Commission proposes to oblige companies that facilitate transfers of Bitcoin and other cryptos to gather different personal data from senders and receivers.

A company handling cryptoassets for a customer must include the customer’s name, address, date of birth, and account number, as well as the name of the person who will receive the cryptoassets.The recipient’s service provider must also check if any of the required information is missing. It’s believed that this should aid law enforcement agencies in their efforts to prevent money laundering and terrorist financing.

Bitcoin has climbed above $31,000

Alongside gains in global equity markets and new signs of rising demand for cryptocurrencies from traditional market participants, Bitcoin has climbed beyond $31,000. However, it may be too early to call a trend reversal higher.

According to CoinDesk 20 data, the biggest cryptocurrency by market value was changing hands near $31,300. The bounce comes a day after the cryptocurrency printed its first UTC close below $30,000 since New Year’s day and may have caught out some traders.

It’s assumed the dip below $30,000 was shallow and short-lived, due to the risk reset in traditional markets.

• Spot trading: There are two favorites at the spot trading front: Bitcoin (BTC) and FTX Token (FTT). Two top dogs have overtaken Solana (SOL) and Stacks (STX) to push them to third and fourth places.
• Derivatives: Bitcoin (BTC) and Ethereum (ETH) have also become the most traded currencies as to trading derivatives. FTX Token (FTT) is following these two head to head with Axie Infinity (AXS) and Cardano (ADA) taking fourth and fifth places.

New Listings on CoinbasePro:

• Mask Network (MASK/EUR MASK/GBP MASK/USDT MASK/USD)
• Rally (RLY/USDT RLY/GBP RLY/EUR RLY/USD)

New Listings on Kraken:

• Karura (KAR/USD KAR/EUR)

New Listings on Kucoin:

• Karura (KAR/USDT)

By the way, our PRO plan includes new Exchange Listing alerts for all 27 exchanges in our app. Become a PRO and receive an instant notification when a new coin is listed on Coinbase Pro, Binance, or an exchange of your choice!

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We have prepared top-performing coins of July 22 for you.

Axie Infinity has managed to become the best performing asset among TOP-100, gaining 37.79% within the last 24 hours.

UNUS SED LEO was the worst-performing asset among TOP-100 (again), losing 9.88% within the last 24 hours.

To get up-to-date reports on gainers and losers during the week, follow us on Twitter.

Top cryptomeme of the week

When you try to live a normal life, but something goes wrong.

We hope you found this digest useful and informative! If you want to be the first one to receive new crypto insights and stay up-to-date with the market, follow us on Twitter. Happy trading with the Good Crypto app!