This week in the crypto world, we saw Donald Trump help Bitcoin to all-time highs, Polymarket in trouble in France and Crypto.com added to a watchlist.
Donald Trump Victory Boosts Bitcoin
Republican Bitcoin supporters got a double boost this week when their man regained the keys to the White House and Bitcoin hit all-time highs as a result. As the result became clear, Bitcoin enjoyed a green candle for the ages, taking it to $75,000 and then on to $76,850.
Bitcoin supporters will be hoping Trump sticks to his promises over opening up the ecosystem, encouraging higher prices and greater adoption, although history suggests they should hold their breath.
Polymarket Under Obersvation in France
French authorities are considering a ban on popular betting site Polymarket, according to a report. French outlet The Big Whale reported that regulators have cited concerns that Polymarket’s structure violates the country’s gambling laws by allowing users to bet on future events, following the platform enjoying $3.5 billion worth of betting in the lead-up to the US election.
The decision aligns with France’s efforts to closely regulate crypto services to protect consumers and uphold financial laws, but it hasn’t gone down well with supporters.
Crypto.com Added to Polish Watchlist
Crypto.com was this week added to the Polish Financial Supervision Authority’s (KNF) public warning list through its corporate name, Foris DAX MT Limited, for operating without a license. Foris DAX is one of four companies added yesterday, with the entity lumped in with others that are recognised scams.
In 2023, the company was fined €2.85 million ($3.12 million) by the Dutch central bank last year for providing services in the Netherlands without registering with De Nederlandsche Bank (DNB), which it did in July of that year.
