Lithuania is considering creating its own crypto licensing regime as European Union laws may not arrive in time to protect things, CoinDesk wrote on Monday, June 6.

Brussels law, the Markets in Crypto Assets Regulation (MiCA), may not be ready until 2025, so Lithuania’s plan is to do its “homework” beforehand, according to Mindaugas Liutvinskas, the country’s deputy finance minister.

However, the MiCA rules are worrying some Lithuania-based countries. According to CoinDesk, Liutvinskas said that while the country waits for the rollout of MiCA, it intends to strengthen its own regulations regarding digital assets.

Meanwhile, Bloomberg reported on Sunday (June 5) that Terra investors in India weren’t as lucky as those in other countries, who recouped some of their money after the stablecoin crashed in May as a new Luna token has been deployed as compensation.

This comes as India’s tax system has been punitive for crypto investments, meaning TerraUSD and Luna token holders will be taxed up to 30% of the value of the tokens received. They will also not be able to offset the gains of the new token against the losses of the old one.

In other news, Cryptio, an institutional-grade crypto company, raised $10 million in a Series A funding round, CoinDesk reported Monday.

The funds will be used to hire new employees, develop products and expand offerings to listed companies and institutions, according to the report.

The intent of the reporting platform is to help financial institutions, corporations, and crypto-native businesses create verifiable records from fragmented decentralized finance, custodial, and exchange data for the purposes of accounting, treasury and tax declarations, the data being able to be connected to other accounting software. .

Finally, crypto exchange-traded funds (ETFs) clustered on the list of worst performers so far in 2022, according to a Bloomberg report on Monday, with the six worst-performing unleveraged ETFs being all of these types. ‘AND F.

The worst of these is the Global X Blockchain ETF, which is worth $63 million, down 64% year-to-date.

Crypto ETFs have risen in rank over the past year, although performance has not kept pace, with waning interest and tighter monetary policy impacting digital assets. That came with bitcoin which has seen a massive drop this year after hitting a high last November.



About: PYMNTS’ survey of 2,094 consumers for The Tailored Shopping Experience report, a collaboration with Elastic Path, shows where merchants are succeeding and where they need to up their game to deliver a personalized shopping experience.