Kraken to Delist Tether's USDT and 4 Other Stablecoins in Europe
Cryptocurrency exchange Kraken will delist Tether's USDT and four other stablecoins in Europe by March 31 to comply with the European Union's Markets in Crypto-Assets Regulation (MiCA). The delisting will occur in stages, with a gradual reduction in support for the affected assets. This move is part of a broader effort by European exchanges to comply with MiCA regulations, which aim to ensure a smooth and orderly delisting process to avoid market disruptions.
Key Dates:
March 24: Spot trading for affected assets will be halted.
March 31: All remaining client holdings for affected assets will be converted to an equivalent stablecoin.
Blocksquare Launches EU-Compliant Real Estate Tokenization Framework
Blocksquare, a blockchain-based real estate platform, has launched a property tokenization framework in Luxembourg, marking a significant step for Europe's blockchain industry. The framework, which integrates with land registries through notarized agreements, enables property owners to tokenize economic rights tied to real estate, providing a direct legal claim backed by the value of the real estate.
The launch of Blocksquare's framework comes shortly after the implementation of the European Union's Markets in Crypto-Assets Regulation (MiCA), which provides the "legal certainty that was missing" in the real estate tokenization industry. According to Denis Petrovcic, CEO of Blocksquare, the framework aims to streamline real estate investment by allowing retail investors with smaller capital allocations to participate, and is expected to accelerate real estate tokenization adoption across Europe, with some estimates predicting a 50-fold growth for the Real-World Asset (RWA) sector by 2030.
If you’d like to read more about the tokenization of real estate and art, you can click on this link. It will redirect you to our blog, where we have covered tokenization in detail.
BlackRock to Launch Bitcoin ETP in Europe
BlackRock, the world's largest asset manager, is set to launch a Bitcoin exchange-traded product (ETP) in Europe, following the success of its US spot Bitcoin exchange-traded fund (ETF), iShares Bitcoin Trust (IBIT). The European ETP, which will be domiciled in Switzerland, is expected to start marketing as soon as this month.
The move is part of BlackRock's expansion of its crypto product suite, which has seen significant growth in 2024. US Bitcoin ETFs saw over $35 billion in aggregate net inflows in 2024, with experts predicting another $48 billion in net inflows in 2025. This surge in institutional inflows could lead to positive demand shocks for Bitcoin, potentially driving up its price.
Czech National Bank Considers Bitcoin Investment
The governor of the Czech National Bank, Aleš Michl, has stated that Bitcoin should be studied, not feared, as the institution considers creating a Bitcoin test portfolio for potential reserves. Michl emphasized that studying Bitcoin's underlying technology and economic impact could strengthen central banks, despite past hesitancy from financial institutions concerned about its volatility.
If approved, the investment could amount to over $7.3 billion in Bitcoin purchases, given the CNB's total reserves of more than $146 billion. While the board of the bank will need to provide thoughtful analysis before making its final decision, Michl's comments suggest that Bitcoin is an interesting asset worth considering for a large portfolio. The proposal has sparked interest in the crypto industry, with some analysts noting the significance of a potential European central bank investment in Bitcoin.
Market Prices Overview
Michael Saylor made another bitcoin purchase, but the market saw a major boost following Donald Trump’s early March announcement about the inclusion of ADA, XRP, and Solana in the planned national crypto reserves. These altcoins experienced significant price surges, with bitcoin also rallying in response to the news.
Sources:
https://cointelegraph.com/
https://www.coindesk.com/
https://news.bitcoin.com/
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