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Crypto

Ripple wins preliminary EMI licence approval in Luxembourg

Ripple has cleared another hurdle in expanding its cryptocurrency services in Europe after receiving preliminary approval for an Electronic Money Institution licence from Luxembourg's financial regulator, CSSF, Cointelegraph reported. Ripple said the move is key to expanding digital asset infrastructure in Europe and that full EMI approval would allow payment services using stablecoins and other digital assets. CSSF sent a greenlight letter setting conditions for final approval.

Crypto

Animoca Brands acquires Somo to expand NFT business

Animoca Brands has acquired games and collectibles company Somo to expand in the NFT market, Cointelegraph reported. Animoca plans to add playable digital collectibles that can be streamed and traded to its blockchain platform portfolio and strengthen its presence in Web3 entertainment. CoinGecko data showed the global NFT market value rose about 20 percent in two weeks to above $3 billion. It remains down 59 percent year on year.

Crypto

Galaxy Digital warns crypto market structure bill expands Treasury financial surveillance powers

Galaxy Digital warned that a crypto market structure bill released by the U.S. Senate Banking Committee would give the Treasury sweeping surveillance and enforcement authority, Cointelegraph reported on Jan. 14. The firm said it could be the biggest expansion of financial surveillance since the Patriot Act. Galaxy said the bill goes beyond the House-passed CLARITY Act, allowing the Treasury to target jurisdictions, institutions or crypto transactions over money-laundering concerns and include temporary holds of up to 30 days.