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Crypto

IMF warns tokenisation may deepen flash crashes, expects government intervention

The International Monetary Fund underscores advantages and dangers of tokenisation, warning that automated trading could intensify volatility and cause flash crashes. It says weak interoperability may fragment markets and worsen liquidity. The IMF notes that governments have historically stepped into financial innovation and predicts increased regulatory involvement in tokenised markets, citing the 1944 Bretton Woods Agreement as an example of state-led system redesign.

Crypto

Kucoin secures MiCA licence in Austria

Kucoin received a MiCA licence from Austria’s Financial Market Authority, allowing its EU unit to operate virtual asset services in 29 EEA countries except Malta. Chief Executive BC Wong said the approval is a milestone for long-term trust and compliance. The exchange applied for the licence in early 2025 and cited Austria’s stable regulatory environment and talent pool as reasons for choosing the country.

Crypto

Tether halts Bitcoin mining in Uruguay amid rising energy costs

Tether, issuer of the USDT stablecoin, has halted Bitcoin mining in Uruguay. The company said it ended operations but remains committed to long-term plans in Latin America. The move came weeks after reports that Tether owed 4.8 million dollars in power fees to Uruguay’s state utility. Tether notified the labour ministry of the shutdown and reportedly dismissed 30 local staff. It had partnered with a licensed firm on mining since May 2023.