EU’s 14-platform ban headlines this week’s crypto market events
Crypto traders have plenty to track this week, from a major stablecoin partnership renewal to a regulatory deadline in Europe and a Federal Reserve document that could hint at where U.S. interest rates are headed next. These crypto market events, spanning corporate agreements, regulation and macroeconomic data, are set to shape sentiment across digital asset markets in the days ahead, according to CoinDesk’s weekly roundup of what’s coming up in crypto and blockchain.
Key takeaways
- Coinbase and Circle’s USDC revenue-sharing agreement enters its first three-year renewal term on Aug. 18.
- The European Union’s ban on transactions with 14 named crypto-asset service platforms becomes applicable on Aug. 23.
- The Federal Reserve releases FOMC minutes from its July 28-29 meeting on Aug. 19, offering clues on future rate moves.
- Peterson Institute president Adam Posen puts just a 25% chance on a September rate hike, expecting the first move instead in December.
- Higher U.S. interest rates typically make risky assets like cryptocurrencies less attractive to investors.
Coinbase and Circle Renew USDC Collaboration
Coinbase and Circle are extending their partnership around USDC, with the agreement that governs how the two companies split stablecoin-related revenue entering a fresh three-year term. The renewal takes effect on Aug. 18, marking a notable moment for one of the crypto industry’s most closely watched corporate alliances.
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