By Kapil Rajyaguru
Kraken Secures License to Enter EU Derivatives Market.
Crypto exchange Kraken secured a Markets in Financial Instruments Directive (MiFID) license in the European Union.
Kraken was able to obtain the license that will enable it to offer crypto derivatives products in the block of 27 nations by acquiring a Cypriot investment firm that was licensed by the Cyprus Securities and Exchange Commission (CySEC).
The exchange now holds the MiFID license, joining others such as Bitstamp and FTX EU, which BackPack recently acquired. The license is part of Kraken’s expansion plan across Europe. It also acquired Crypto Facilities, a U.K. FCA-regulated crypto futures platform, in 2019.
Ethereum Raises Gas Limits for First Time Since 2021, Boosting ETH Appeal.
The Ethereum network’s capacity to handle more transactions increased further late Monday as validators agreed on a gas limit increase for the first time since late 2021, also the first time in the network’s Merge era.
The gas limit on Ethereum reached nearly 32 million gas units as of Tuesday morning with a maximum expected capacity of 36 million units. The last significant increase was in 2021, when the limit jumped from 15 million to 30 million gas units.
More than half of the validators approved the adjustment, which automatically took effect without a hard fork.
A higher gas limit could increase the utility of the Ethereum network, potentially boosting investor interest in ETH, which has seen a decline in value relative to bitcoin.
US Senator Hints Trump’s Latest EO Could Mean The US Buying Bitcoin.
US President Donald Trump has signed an executive order directing the government to create a sovereign wealth fund, with industry advocates and at least one lawmaker suggesting the action could lead to the government acquiring Bitcoin.
Trump signed the executive order (EO) in a Feb. 3 press event in the Oval Office, directing Treasury Secretary Scott Bessent and Secretary of Commerce Howard Lutnick to “begin a process that will hopefully result in the creation of an American sovereign wealth fund.” Bessent stated that they would enact the EO “within the next 12 months” and aim to “monetize the asset side of the US balance sheet.”
Wyoming Senator Cynthia Lummis posted to X after the EO signing to hint that the sovereign wealth fund could be used to buy BTC.
CFTC Probes Super Bowl Wagers Offered By Crypto.com, Kalshi.
Crypto exchange Crypto.com says it will continue offering wagers on the Super Bowl while it works with the US commodities regulator to address its concerns.
It comes after Bloomberg reported on Feb. 4 that Crypto.com and prediction market Kalshi were asked by the US Commodity Futures Trading Commission to explain how their Super Bowl events contracts comply with derivatives regulations.
Crypto.com, which operates a US-based derivatives exchange, alerted the CFTC on Dec. 19 that it would start trading the contracts on Dec. 23.
However, Bloomberg reported at the time that the CFTC didn’t have time to review them before the Christmas season alongside a looming threat of a government shutdown.
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