GM, this is The Crypto Explorer, the only newsletter that's sizzled with spicy updates, it'll leave your taste buds begging for mercy! 😂

Here’s what we got for you today:

• 🚨 Tornado Cash Developer Pertsev Set to be Released from Prison!

• 🔐 The European Union (EU) has approved a regulation for crypto assets!

🚨 Tornado Cash Developer Pertsev Set to be Released from Prison!

Alex Pertsev, the developer of Tornado Cash is finally getting out of jail!

The Dutch authorities arrested him last August, claiming he was involved in some shady money laundering business using Tornado Cash.

And it was shortly after the US Treasury Department added several Tornado Cash addresses to the OFAC sanctions list on August 8th.

But now, finally, after nearly nine months of being trapped, Pertsev is about to be released from prison.

And to make his release even more special, it's going to be on his birthday, April 26th! But don’t pop the champagne just yet because he won't be completely off the hook.

His suspended release will be under supervision, which means he will be sporting a fancy new accessory – an ankle monitor. He may be free but he's still going to be watched like a hawk!

On the bright side, he'll finally be able to work on his defense, which he couldn't do while locked up.

The crypto community is rooting for him, so let's hope he can whip up a storm and clear his name!

🔐 EU’s MiCA Regulation: A Matchmaker for Finance and Crypto

The European Union (EU) has approved a regulation for crypto assets!

It's called Markets in Crypto Assets (MiCA) and it was voted for by 517 members of parliament and 38 against.

That’s quite impressive right? 😊

Under the regulation, all crypto companies will have to register in one of the EU member states, with compliance to be overseen by the European Securities and Markets Authority and the European Banking Authority.

They'll also have to disclose the environmental impact of their assets to customers. Talk about transparency!

But let's not get ahead of ourselves - we still have to wait for the formal Council vote on May 16th.

So until then, let's just hope that the EU doesn't change its mind. 😀

In the meantime, the crypto community has welcomed this new regulation.

CEO of Binance, Changpeng Zhao, is cautiously optimistic about the new regulation.

He tweeted that he believes this is a pragmatic solution to the challenges the industry faces, but policy members in EU member states will need to consistently implement the regulation to provide companies with regulatory clarity.

Other industry participants speculate that MiCA will promote transparency and security in the industry, and encourage banks to offer accounts to licensed crypto businesses. (the collapse of Silvergate Bank and Signature Bank has really affected the industry).

But there’s a downside- they are concerned about the regulation's limited scope since it excludes crypto sub-sectors such as NFTs and DeFi.

This new regulation will definitely be a hot topic in the crypto community for a while.

That's all we have for today.

We'd love your feedback.

In any case, see you tomorrow, or on Twitter, if you're there: @danielakpobare

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