Privacy Coins Face Extinction as Bitcoin Nears $94k 🚀
Hello, and welcome to another edition of the Coinigy weekly news round-up………
So it does look like the regulatory heat is out to burn privacy coins and force the ash into extinction by the year 2027, thanks to the European Union fuel. While Bitcoin's just chilling above $94k waiting for that US-China trade deal news. Patience is a virtue in this market, folks.
And speaking of trade deals, Bybit is upping its game with some type of all-around expansion. We're talking about traditional markets, from stocks to commodities. No better way to shoot for institutional big leagues now.. Yeah, the big game players are blurring the lines between TradeFi and crypto, right before our very own eyes.
Here are the Highlights:
- EU to ban anonymous crypto accounts and privacy coins by 2027
- Bitcoin Hovers Above $94K as Market Awaits News on U.S.- China Trade Deal
- ERIC & DONALD TRUMP JR TO SPEAK AT BITCOIN CONFERENCE 2
- Bybit Expands Into US Stocks and Commodities to Attract Institutional Investors
EU to ban anonymous crypto accounts and privacy coins by 2027
The European Union is set to impose sweeping Anti-Money Laundering (AML) rules that will ban privacy-preserving tokens and anonymous cryptocurrency accounts from 2027. Under the new Anti-Money Laundering Regulation (AMLR), credit institutions, financial institutions and crypto asset service providers (CASPs) will be prohibited from maintaining anonymous accounts or handling privacy-preserving cryptocurrencies, such as Monero and Zcash. “Article 79 of the AMLR establishes strict prohibitions on anonymous accounts [...]. Credit institutions, financial institutions, and crypto-asset service providers are prohibited from maintaining anonymous accounts,” according to the AML Handbook, published by European Crypto Initiative (EUCI).
Bitcoin Hovers Above $94K as Market Awaits News on U.S.- China Trade Deal
Bitcoin (BTC) opened the trading week flat above $94,000 as traders waited for news from Beijing on the progress of a trade deal with the U.S. The CoinDesk 20 (CD20), a measure of the performance of major digital assets, was down 1.5%, trading below 2,700. "XRP and Bitcoin bounced back from the tariff shocks in April, but have yet to make a significant movement upwards," Nick Ruck, director at LVRG Research, told CoinDesk in a Telegram message. "Investors may be overly cautious about risk assets such as crypto due to the current US macroeconomic climate, despite Bitcoin's trend breaking away from its correlation with US equities."
ERIC & DONALD TRUMP JR TO SPEAK AT BITCOIN CONFERENCE 2
The speaker lineup for Bitcoin 2025 continues to grow as two high-profile names join the stage: Eric Trump and Donald Trump Jr. Set to appear in Las Vegas from May 27–29, both figures bring a bold voice to the conversation around Capitalism, Bitcoin, freedom, and economic sovereignty. With their increasing engagement in the Bitcoin space, their presence marks another major moment in what is already shaping up to be a stellar Bitcoin Conference. Eric Trump is Executive Vice President of the Trump Organization, overseeing a global portfolio of real estate, hospitality, and development ventures. Known for his hands-on leadership and market instincts, he has played a key role in expanding the family business across major markets.
Bybit Expands Into US Stocks and Commodities to Attract Institutional Investors
Bybit is expanding beyond crypto by adding trading options for US stocks, commodities like gold and crude oil, and market indices. The move aims to attract both retail and institutional investors by integrating traditional assets into its high-leverage trading platform. The crypto exchange is regaining user confidence and aligning its strategy with broader market trends and favorable US policy shifts. The exchange, known for its crypto leverage products, aims to introduce these offerings before the end of the current quarter. On May 3, Bybit CEO Ben Zhou confirmed the development during a Livestream event. He noted that users will soon be able to trade instruments such as gold, crude oil, and leading US stocks like Apple and MicroStrategy.
Other Highlights Worth Mentioning
Britain to ban consumers borrowing to buy cryptocurrencies - Financial Times
Binance to launch crypto payments in Kyrgyzstan with new partnership - Cointelegraph
Vitalik Buterin wants to make Ethereum ‘as simple as Bitcoin’ by 2030 - Cryptoslate
U.S. Congressman Pitches Crypto ATMs for Federal Government Buildings - Coindesk