21 Apr 2023

The Friday Focus - Issue 82

The European Union became the first major jurisdiction to pass comprehensive crypto laws—more on the EU's new MiCA law and other news in this week's Friday Focus.
The Friday Focus

Top stories

  • EU's new crypto law, MiCA, passes in a landslide vote
  • Coinbase receives Bermuda license
  • The U.S. House Committee publishes draft for stablecoin bill
In a landslide vote, EU lawmakers voted in favor of the new crypto licensing regime called Markets in Crypto-Assets (MiCA). The European Union is now the first major jurisdiction in the world to introduce a comprehensive crypto law. According to the plan, the law will be in effect from mid-2024. The industry reactions have been good so far, with powerhouses Coinbase and Binance posting positive comments. In addition to posting positive comments on MiCA, Coinbase have received a license to operate in Bermuda. Unconfirmed rumors say they are contemplating setting up an offshore derivatives exchange. If so, it will be interesting to see how this matches with their U.S. stock listing. Last Friday, just after the Friday Focus went out, The U.S. House Committee published its draft for a stablecoin bill. Stablecoins are crucial for centralized exchanges and DeFi alike, and the implemented regulation of stablecoins in the world's biggest crypto market can have a huge impact on the industry. Other News
From our Analysts
A global retail exodusGlobal exchange traffic is down 25% from this summer. Read here.
geo web relative
Source: Similarweb. Exchanges included: Binance, Coinbase, FTX, Bybit, Deribit, Gate, Nexo,, BlockFi, Kraken, Bitstamp, Kucoin, Upbit, Bithumb, OpenSea, Bitfinex, OKCoin, Bitso, Luno, Indodax, Bittrex, Mercado Bitcoin, Uniswap, Huobi, OKX, BitMEX, Bitget, Gemini, Binance US, FTX US,, MEXC, CoinDCX, Firi, NBX *NB! Web traffic may be artificially inflated through click farms
Traffic data in line with new crypto ownership study in NorwayThe Norwegian ownership rate of cryptocurrencies declined from 10% to 8% in 2023, a 20% (2 pp) decline. Read here.
Key Findings
Weekend Reading
News card 4
Read here.
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