Breaking news

BBVA Launches Bitcoin and Ethereum Trading as EU Crypto Regulations Tighten

In a landmark move, Spain’s banking giant Banco Bilbao Vizcaya Argentaria (BBVA) has gained approval from the Spanish financial regulator to offer Bitcoin and Ethereum trading to its clientele. This step is a result of the EU-wide enforcement of the Markets in Crypto-Assets (MiCA) regulation.

Key Insights

  • The authorization ends a prolonged journey, allowing BBVA to provide digital assets to its customers.
  • BBVA’s crypto journey follows in the footsteps of other major European banks like Deutsche Bank and Société Générale.
  • This approval highlights the changing dynamics of crypto markets across Europe.

The Bigger Picture

BBVA’s approval comes as MiCA takes full effect across the EU, marking a crucial phase in the bank’s strategy to offer digital asset services. Initially reported by CoinDesk in 2020, BBVA’s expansion into digital currencies was contingent upon regulatory clearance, previously planned for Switzerland due to its established regulatory framework.

Earlier this year, the bank ventured into Turkey’s crypto market through a local subsidiary.

Greek Tankers Transit Hormuz As Shipping Risks Rise In Gulf And Black Sea

Two tankers linked to George Prokopiou passed through the Strait of Hormuz as regional tensions continue to affect shipping routes in the Gulf.

Safe Passage Through Hormuz

The tanker Smyrni, operated by Dynacom Tankers Management, was observed off the coast of Mumbai on Saturday morning after its earlier positioning in the Persian Gulf. The vessel, like its predecessor Shenlong, temporarily disabled its transponder during transit, a common practice in these narrow channels under uncertain conditions.

Robust Market Commitments

Despite reduced shipping traffic through the strait, Dynacom has continued expanding its fleet. The company recently ordered four additional VLCC tankers from Hengli Heavy Industry. Each vessel will have a capacity of 300,000 deadweight tonnes. With the new order, Dynacom’s VLCC program in Chinese shipyards now totals 16 vessels.

Security Incident In The Black Sea

In a separate incident, the Greek-flagged tanker Maran Homer sustained minor damage near Novorossiysk in the Black Sea. The vessel is operated by Maran Tankers Management, part of the shipping group controlled by Maria Angelicoussis.

Reports indicated the ship was struck by a missile or drone about 14 nautical miles from the port. The crew of 24, including Greek, Filipino and Romanian sailors, was not injured. The vessel, which was not carrying cargo, continued sailing under its own power.

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