Europe: The continent known for invaluable contributions to modern society such as the Semester Abroad, Trench Warfare, and Imperialism.

But much like Europe beat us to civilization, colonialism, and even nicotine addiction, our significantly older sibling is about to beat us yet again. 

Because it looks like Europe is about to beat us to crypto mass adoption. We’ll break it down for you, point by European point, in today’s newsletter.

Espresso Shots

☕️ Ethereum Hits $2,000 🚀 💰

Despite analysts' insistence that ETH would drop after the Shanghai update, Ethereum has defied every expectation and reached an 11-month high. 

It seemed only natural that the unlocking of 18 million ETH would cause a mass sell-off, but that hasn’t been the case.

So far only 84,500 ETH has exited the system as validators took the chance to sell their positions following the update.

This upgrade was expected to benefit Ethereum in the long run, but those benefits came a lot sooner than expected as Ethereum broke $2,000 for the first time since May of 2022. 

We love that Ethereum has defied expectations. It’s sort of like when Eddie “Ganja” Granger dropped out of school to become a bigger, more successful drug dealer than anyone could have imagined.

☕️ Crypto Trading on Twitter 📈 🐤

Twitter unveiled a partnership with social trading company, eToro, that will allow users to buy and trade stocks, crypto, and other assets on Twitter.

Twitter already provides minute-to-minute coverage of the S&P 500 using its “cashtags” feature, but with this new update, users will be able to do more than look at the market.

Yoni Assia, CEO of eToro, is enthusiastic about the possibilities for this partnership.

“There is very high quality content, real-time content on financial analysis of companies and what’s happening around the world,” said Assia. 

“We believe this partnership will enable us to reach those new audiences [and] connect better the brands of Twitter and eToro.”

Though even when crypto trading becomes widespread on Twitter, don’t be surprised when the Trump Trading Card NFTs are strictly available on Truth Social.

☕️ Paxos Leaves Canada 🇨🇦 ❌

Paxos, a fintech company specializing in blockchain solutions, has announced its plans to depart from the Great White North amid Canadian regulatory uncertainty.

Despite Canada’s recent crypto boom with the announced merger of three of Canada’s crypto exchanges, the country is still tightening regulations. 

These new regulations require companies to enter legally binding agreements with the Canadian Securities Administration and they're particularly stringent for Stablecoins.

This proved to be a step too far for Paxos, the famed Stablecoin issuer who is also dealing with legal issues in New York State and with the SEC. 

In the end, Paxos decided to leave the country rather than become legally compliant. They have already told Canadian customers to begin withdrawing their funds.

Paxos intends to leave Canada in the traditional manner: by floating into the Atlantic on a block of ice.

Spilling the Beans

Europe Prepares to Welcome Crypto 🇪🇺 🪙

Europe’s been an innovator in many areas.

They taught the globe about the spice trade and no continent has been better at stealing antiquities from one another.

And now Europe is poised to be the leader of innovation in its latest focus… crypto.

Next week, if everything goes according to plan, the European Parliament’s new crypto licensing laws will be approved.

According to an insider source, the expected timeline is that a parliamentary debate will take place on Wednesday, April 19th, with the actual vote, expected to pass, on the 20th.

The crypto licensing laws involved in this decision would affect crypto exchanges, custodians, and wallet providers, as they’ll have to acquire licenses provided by Europe’s newly founded “Markets in Crypto Assets Regulation” or “MiCA.”

But once they have a license, that crypto entity is officially rendered a “crypto asset service provider” or “CASP.”

Which, “will be a brand in the European Union… a kind of stamp of approval of the sector,” said Rok Žvelc, a MiCa staffer. “Investors will know that if they turn to CASPs, they will have all the protections that MiCA provides.”

The license must be obtained from one of the 27 national authorities throughout the EU which fall under this ruling.

The processes that will be implemented through the passage of MiCA are likely to be a bit of a headache for crypto firms, but they’re being given 18 months to comply. 

However, in the long run, this is exactly the sort of infrastructure that crypto needs to begin its journey towards mass adoption. 

It’s long past time for us to leave the days of “the wild west of crypto” behind. 

In short, this is the legitimization that crypto desperately needs stateside. These licenses protect crypto entities from the incessant lawsuits they’re plagued by in the US. 

What’s more, just outside the EU, the London Stock Exchange seems ready to welcome crypto with open arms.

LCH, a branch of the London Stock Exchange, will soon accept Bitcoin futures and options.

“Bitcoin index futures and options are a rapidly growing asset class,” said Frank Soussan, head of LCH DigitalAssetClear, the branch that will finalize future digital asset trades. 

Soussan believes there is an, “increasing interest among institutional market participants looking for access within a regulated environment they are familiar with.”

On one hand, it’s cool to see crypto invading traditional finance… but on the other, crypto was created as an alternative to old financial systems. 

If you’d rather speculate on crypto on the stock market, suit yourself, but you’re kind of missing the point of decentralized finance. 

Whether or not we ideologically endorse crypto speculation on the London Stock Exchange, it inarguably represents another large step forward for crypto mass adoption in Europe.

So why is the United States still in a holding pattern? Where’s our governmental vote on crypto licensing?

America learned democracy from the Greeks, war from the English, and infidelity from the French.

Maybe it’s time we start listening to them on crypto legislation too.

Meme of the Day

We love to see numbers going up 🚀

Crypto 101

On-Chain: This is the term applied to transactions recorded on the blockchain.

An example would be sending ETH or BTC from one wallet to another. These transactions are visible to everyone on the network and verified by the blockchain.

Off-chain is when something isn't recorded. Meanwhile, off-the-chain isn’t really a crypto term, but can sometimes be heard when a party is, like, really good.

The Last Sip

In honor of Paxos’s departure from Canada, we named three of the most powerful entities to ever leave Canada:

• Matthew Perry

• Drake

• Canadian Geese: Every year they show up and dominate our country. They shit on the sidewalk, stare us down in public, and squawk at us in anger. Bastards.

Stay Caffeinated,

Coffee & Crypto Team

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DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.