Here’s what happened in crypto today

Today in crypto, BitGo secured a VARA license from Dubai's Virtual Assets Regulatory Authority (VARA) to provide regulated digital asset trading and intermediation services to institutional clients. This comes amid a regulatory crackdown, with VARA issuing penalties against 19 companies for unlicensed activities. Meanwhile, Intercontinental Exchange (ICE) invested $2 billion in prediction market Polymarket at a $9 billion valuation, illustrating the merging of traditional finance with cryptocurrency. Polymarket allows users to buy and sell shares on outcomes of real-world events, though U.S. user access is restricted due to regulations. Additionally, the European Union is considering sanctions against A7A5, a stablecoin pegged to the Russian ruble, prohibiting EU organizations from engaging with the token. A7A5's market capitalization recently surged by 250%, reflecting significant trading activity despite the sanctions on Russian entities involved in crypto transactions.

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