• Language in the EU’s Markets in Crypto Assets bill that would effectively ban crypto mining was removed Monday
  • US officials claim that Russia has asked China for military aid, heightening geopolitical tension and pulling equity markets down

Bitcoin and other cryptocurrencies pushed higher Monday as the European Union nixed a regulatory measure that would have effectively banned crypto mining.

The section — which would broadly regulate the digital assets space — was removed from the Markets in Crypto Assets (MiCA) bill Monday. It quieted the concerns of industry participants who have protested the measure since it was introduced by the EU in 2020.

The removal boosted markets even as equities fell on the day. Bitcoin climbed 2.85%, while ether rose 1.14% by the end of stock trading.

Stefan Berger, a member of the European Parliament from Germany, said proof-of-work crypto mining was no longer included in MiCA.

"In view of the important debate about sustainability, my suggestion is to include crypto assets, like all other financial products, in the #Taxonomie area," Berger said. "An independent discussion of the Proof-of-Work is no longer planned in #MiCA."

THORchain, a decentralized liquidity protocol, was again crypto’s biggest gainer of the day among the top 100 coins by market capitalization, with an 11.61% gain.

Equities struggled Monday after reports emerged that Russia had asked China for military aid in its efforts in Ukraine. White House National Security Advisor Jake Sullivan said Sunday that the US is "watching closely to see the extent to which China actually does provide any form of support, material support or economic support, to Russia."

The growing geopolitical tension has continued to add uncertainty to the stock market, causing high volatility. The S&P 500 fell by another 0.74% Monday, while the Nasdaq fell 1.92%. The Dow remained flat.

Top stories

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  • The bank will be able to take advantage of more advanced features such as holding, staking and lending in the coming months, according to CoinShares

Story: CoinShares Seeks To Reach More Investors by Upping Stake in FlowBank

  • Liberal Party candidate Yoon Suk Yeol has clinched a victory over political rival Lee Jae-Myung in a narrow race
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Story: NFT Marketplace Magic Eden Secures $27M Series A

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Story: Congressional candidate uses NFTs to raise awareness, funds

  • The NFT holders will have access to conversations with climate scientists and the Kurani campaign’s Earth Day party in the metaverse
  • Kurani, if elected, would prioritize clear guidelines on know your customer and anti-money laundering reporting while seeking to protect privacy

Going forward

Investors should prepare for the Federal Open Market Committee's federal funds rate announcement Wednesday. The expected rate change is likely to move markets.


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  • Editor, Evergreen Content
    As Editor of Evergreen Content at Blockworks, Luke Conway oversees the creation of comprehensive educational guides on all things crypto to help users navigate the space. Before Blockworks he worked as an associate editor for Investopedia, managing broker reviews and a cryptocurrency news desk.