Crypto Markets News: Bitpanda's Euro Stablecoin and Kraken's Expansion

In the latest crypto markets news, Bitpanda is actively promoting its Euro stablecoin, aiming to enhance the usability of cryptocurrencies in Europe. Meanwhile, Kraken has made headlines with its acquisition of a Dutch broker, marking a significant step in its European expansion strategy.

Regulatory Developments in the EU

The Dutch Authority for the Financial Markets (AFM) has issued a warning regarding the risks of cryptocurrency pump-and-dump schemes. This comes just before the implementation of the new Markets in Crypto-Assets Regulation (MiCA), which will take effect on December 30. MiCA is set to explicitly ban market manipulation tactics across Europe.

AFM's Enforcement Actions

• AFM will oversee enforcement of new regulations in the Netherlands.
• Investigations into several pump-and-dump schemes are ongoing.
• Strict measures will be implemented once MiCA is fully operational.

A pump-and-dump scheme involves artificially inflating the price of a cryptocurrency by spreading misleading information. Typically, promoters purchase the asset at a low price, create hype to attract investors, and then sell their holdings at the inflated price.

Conclusion

With these developments, the European crypto landscape is poised for significant changes as regulations tighten and major players like Bitpanda and Kraken continue to innovate.