Major crypto investment platform Coinbase has joined forces with German soccer team Borussia DortmundBVB for promotional activities on the pitch or through digital advertising outlets, according to Coinnews.
A blog post was released revealing that Coinbase has been upgraded to a premium partner. Coinbase and BVB started their partnership back in July of last year to offer crypto workshops to BVB staff.
As part of the new agreement, Coinbase’s ads will be showcased at Signal Iduna Park, the biggest soccer stadium in the country of Germany.
“There are numerous thrilling prospects in the world of cryptocurrency. The granting of the license to ‘BaFin’ is a clear indication to us because it shows the BVB that there is now such a partner at our side in an area that’s still very new and often confusing for those outside,” said Carsten Cramer.
European Union Near Implementing Crypto Guidelines
The European Union (EU) is on its way to introducing the Crypto Asset Market (MiCA) regulations, which in certain states will be stricter than the existing regulations in Europe, according to CoinDesk.
MiCA requires “an unprecedented level of transparency from crypto exchanges,” it said.
Under the new laws, crypto corporations need to inform the public about their pricing and actual trading volumes. Trades must also be settled on the same day.
Exchanges must also maintain their own funds as well as cryptocurrencies and customer funds. The use of insider information is also forbidden by law.
MiCA may also implement a “uniform licensing system for all EU member states,” making it one of the most comprehensive rules on the planet, according to the report.
Licenses for MiCA and other regulations are becoming “more complex, more sophisticated” than those currently set by the French regulator, as stated by Frédéric Montagnon, founder of French blockchain firm Arianee, to CoinDesk.
Around 60 companies are already registered with the French Financial Markets Authority (AMF), but “if MiCA forces crypto service providers to insure their businesses, it will be a challenge for startups in France,” Montagnon concluded.
Crypto Billionaire Arthur Hayes Predicts Bitcoin Could ‘Crash’ Again
Crypto billionaire and former BitMex CEO Arthur Hayes has warned that Bitcoin could lose ground again if the Federal Reserve keeps increasing its repo rates.
In a blog post, Hayes suggested that inflation could affect the cryptocurrency market, as the consumer price index (CPI), which peaked at about 9% in mid-2018, has been on the decline since July.
Investors can expect the Fed to curb the rise of rate, he said, adding: “Those forecasters would argue that our esteemed Chairman Powell is looking for every opportunity to move away from his current quantitative tightening (QT) policies.”
