Key Events to Watch in the Crypto Industry in 2024
As the crypto industry continues to grow, it’s important to stay informed about significant events that can impact its trajectory. Here are some key events to watch out for in 2024:
Europe’s MiCA Implementation
The European Union (EU) has introduced the Market in Cryptoassets (MiCA) regulation, which aims to establish clear crypto regulations and prevent the collapse of crypto firms. After years of development, the EU Parliament and Council have approved the new licensing policy. The stablecoin rules will come into effect on June 30, 2024, followed by the rest of the regulations on December 30, 2024. This implementation could encourage other regions to adopt similar laws.
Ether ETF Approval
In addition to Bitcoin exchange-traded funds (ETFs), there is anticipation for the approval of Ethereum ETFs between February and May. Several firms have submitted applications with the U.S. Securities and Exchange Commission (SEC) to launch spot and mixed ETFs. If approved, these products could provide investors with greater access to the Ethereum ecosystem and attract more fund inflows.
SBF’s Sentencing
In March, there will be a significant event as Sam Bankman-Fried (SBF), the founder and former CEO of FTX, faces sentencing for his involvement in a major financial fraud. SBF was found guilty of multiple charges, including wire fraud and securities fraud. His actions led to billions of dollars in losses for investors and triggered a chain reaction that affected other firms. SBF could face a maximum sentence of 115 years in prison.
Hot Take: Exciting Developments Await in 2024
As we look ahead to 2024, the crypto industry is poised for significant developments. The implementation of clear regulations in Europe through MiCA will provide stability and protection for crypto firms. The potential approval of Ethereum ETFs will open up new investment opportunities and boost the growth of the Ethereum ecosystem. Additionally, the sentencing of SBF will bring justice and serve as a reminder of the importance of accountability in the crypto space. Keep an eye on these events as they unfold, as they have the potential to shape the future of cryptocurrencies.
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