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First Mover Americas: Landmark Crypto Laws Pass in Europe
The latest price moves in crypto markets in context for April 20, 2023.
Updated Apr 20, 2023, 3:03 p.m. Published Apr 20, 2023, 12:31 p.m.
This article originally appeared in First Mover, CoinDesk’s daily newsletter putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day.
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Lawmakers in the European Union on Thursday voted 517-38 in favor of a new crypto licensing regime, Markets in Crypto Assets, which ispopularly known as MiCA, with 18 abstentions, making the EU the first major jurisdiction in the world to introduce a comprehensive crypto law. The European Parliament also voted 529-29 in favor of a separate law known as the Transfer of Funds regulation, which requires crypto operators to identify their customers in a bid to halt money laundering, with 14 abstentions. The votes follow a Wednesday debate in which lawmakers largely supported plans to make crypto wallet providers and exchanges seek a license to operate across the bloc of 27 nations and require stablecoin issuers to maintain sufficient reserves.
Bitcoin fell for a second straight day on Thursday, dropping to $28,500, a 10-day low. The world’s largest cryptocurrency declined 2% over the past 24 hours as traders across the globe moved away from risky assets. Bitcoin closed below its 20-day moving average on Wednesday, according to data from TradingView, a sign of weakness. The cryptocurrency has rallied this year, but Craig Erlam, an analyst at foreign-exchange trading firm Oanda, said in a morning note that the recovery may be running on fumes. Popular meme token, dogecoin (DOGE), was one of the few coins trading in the green Thursday, up 5% over the past 24 hours. Some supporters refer to April 20 as "DogeDay."
The substantive parts of the Voyager Digital-Binance.US sale deal could be allowed to proceed even before a legal appeal is worked through, court filings made Wednesday suggest, as concerns rise that the buyer could pull out. The document says the U.S. government has now agreed that the bulk of Binance.US' $1 billion deal to purchase assets of the bankrupt crypto lender can proceed, despite concerns that the fine print of the contract would pardon breaches of tax or securities law. The filing proposes that, until an appeal is settled, those contentious “exculpation provisions” should remain on hold, but not the remaining elements of the deal.
Chart of the Day
- The chart shows the on-chain movement of bitcoin that's been sitting dormant for between seven and 10 years.
- More than 5,000 bitcoins, worth $144 million, were moved early Thursday.
- Whenever such old coins move, bitcoin tends to see increased price turbulence.
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KuCoin Hits Record Market Share as 2025 Volumes Outpace Crypto Market
Tarafından sipariş edildiKuCoin
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
Bilinmesi gerekenler:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
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Dogecoin, PEPE rocket as much as 25% as 2026 starts with a bang for memecoins
The broader meme coin market is heating up, with CoinGecko's GMCI Meme Index showing a market value of $33.8 billion and a trading volume of $5.9 billion.
Bilinmesi gerekenler:
- Dogecoin and Pepe led a significant meme coin rally, with Dogecoin rising 11% and Pepe surging 17% in a single day.
- The broader meme coin market is heating up, with CoinGecko's GMCI Meme Index showing a market value of $33.8 billion and a trading volume of $5.9 billion.
- Traders are speculating on meme coins as a high-risk, high-reward opportunity amid uneven liquidity and a lack of clear macroeconomic catalysts.
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