Here are some of the top stories from the crypto industry this week.

Bitcoin Hits $30K Milestone for First Time Since April

Bitcoin's price experienced a significant milestone on Wednesday as it surpassed the $30,000 mark for the first time since April. This is an increase of 0.75% over the past 24 hours (at 5:28 pm, IST). The total market cap of Bitcoin stood at $585 billion (approx).

The price surge comes after a period of consolidation and indicates renewed bullish sentiment in the market. Market analysts attribute the upward movement to several factors, including increased institutional interest, growing adoption, and favourable regulatory developments. 

The milestone reinforces Bitcoin's resilience and showcases its potential as a store of value and investment asset. 

UK Parliament Gives Green Light to Crypto and Stablecoin Regulations

The United Kingdom has taken a significant step towards regulating the cryptocurrency industry as the country's Parliament's upper house approves new laws pertaining to crypto and stablecoins. 

The bill was introduced to take advantage of Brexit freedoms and give regulators more power over the UK financial system.

The approved legislation aims to enhance regulatory oversight, promote consumer protection, and ensure the stability of the financial system. The move demonstrates the UK's commitment to fostering innovation in the digital asset space while establishing a secure and transparent environment for market participants. 

German-German Intelligence Agency Enters NFT Space with Dog-Themed Collection

In a creative initiative to attract cyber talent, the German intelligence agency has launched a dog-themed non-fungible token (NFT) collection with an on-chain treasure hunt to recruit cyber talent. 

The Federal Intelligence Service launched its “Dogs of BND” collection - 999 dog NFTs inspired by BND’s guard and security dogs as well as “different intelligence roles.”

By leveraging the growing popularity of NFTs, the German intelligence service aims to tap into the tech-savvy talent pool and position itself as an attractive employer in the cybersecurity field. 

Czech Automobile Conglomerate Škoda Auto Launches NFT Platform

Škoda India, the Indian subsidiary of Czech automobile conglomerate Škoda Auto, has launched a Web3 and non-fungible token (NFT) experience in partnership with Near Protocol. 

The debut Škoda NFT collection is set to launch soon with no fixed date or offer price. Users will be able to mint the NFT whenever it is dropped through the addition of funds to their wallets. 

The platform aims to bridge the gap between the automotive industry and blockchain technology, offering unique digital assets tied to the company's iconic vehicles. 

By embracing NFTs, Škoda Auto seeks to enhance customer engagement, create new revenue streams, and explore innovative ways to connect with car enthusiasts.

Crypto Bank Xapo Expands to India, Rest of South Asia

Xapo Bank, a Gibraltar-based crypto bank backed by SoftBank, DST Global and Ribbit Capital, has announced its expansion to India and the rest of South Asia.

Xapo is proposing services such as its USD offshore savings account offering 4.1% interest and a Bitcoin wallet, offering 1% on BTC deposits.

Xapo's decision to expand to India represents an opportunity to provide hybrid banking and investment solutions to a large underserved population.

That’s all for this edition of our crypto newsletter. Stay tuned for more exciting news and updates from the world of blockchain and crypto!