The European Parliament adopted a new AML law package which increases the reporting requirements of crypto asset service providers (CASPs) when sending and receiving ‘anonymous’ payments between self-hosted wallets and custodial service providers, in addition to limits on cash transactions and the establishment of a ‘central watchdog’ agency, which will develop regulatory technical standards.

Under the new laws, EU CASPs will need to perform customer due diligence on transactions originating from self-custodial wallets for transactions below 1000 EUR, and implement additional KYC measures for transactions above 1000 EUR. The laws further regulate the operation of no-KYC custodial…

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The cryptocurrency world witnessed a significant milestone this week as Bitcoin transaction volume surged to an unprecedented level. On Tuesday, the number of transactions on the Bitcoin network reached 927,000, surpassing the previous record of 724,000 set in December 2023. This surge is attributed to the recent launch of Runes, a new technology or feature in the Bitcoin ecosystem, which has evidently boosted user engagement and transaction activity.

Industry experts view this record-breaking volume as a strong indicator of Bitcoin’s growing acceptance and robust health. The increased transaction capacity not only demonstrates the scalability of the network but also enhances user confidence, potentially paving the way for more widespread adoption. This landmark event is seen as a positive development for the future of Bitcoin, signaling a maturing market that continues to attract significant interest from both investors and users.

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The market share of centralized crypto exchanges is highlighted, with Binance leading by a significant margin at 49.7%, nearly half of the entire market share. Upbit follows as a distant second with 9.4%, while Bybit holds 8.2%, showcasing the competitive landscape among top players.

OKX commands 7.5% of the market, rounding out the top four. The remaining exchanges, categorized as “others,” collectively make up 25.2%, indicating a fragmented but sizeable portion of the market shared among numerous platforms.

This distribution underscores Binance’s dominance in the centralized exchange space and reflects the varying preferences and loyalties of crypto traders globally. It also hints at the potential for market movements and changes as new and existing exchanges vie for user attention.

Disclaimer: Market capitalizations and data can vary in real-time. The information provided here is intended purely for educational purposes and should not, under any circumstances, be construed as financial advice.

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