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ECB Wants Quick Action on Crypto Regulation Following Russian Sanctions
The European parliament earlier today postponed a vote on a regulatory framework for cryptocurrencies.
Updated May 11, 2023, 6:39 p.m. Published Feb 25, 2022, 7:20 p.m.
Speaking to the press following a meeting of the EU's Economic and Financial Affairs Council, ECB President Christine Lagarde says it's "critically important" for the so-called MiCA legislation to be pushed through as soon as possible.
- The Markets in Crypto Assets (MiCA) legislation has been worked on for several years to provide a structure for broadly regulating the burgeoning cryptocurrency market. A vote on its passage was supposed to take place on Feb. 28, but was suspended indefinitely today on criticism that wording in the bill could overly restrict or even ban the energy-intensive proof-of-work process that secures the Bitcoin network, among others.
- While there's been lots of speculation on how Russia might make use of cryptocurrency networks to assist in evading stringent financial sanctions imposed by the EU and U.S., many legal and blockchain experts aren't convinced it's possible.
- The ECB's Lagarde: "There are always criminal ways to try to circumvent a prohibition, which is why it's so critically important that MiCA is pushed through as quickly as possible so we have a regulatory framework."
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- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
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