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ECB Urges Stablecoin Adoption; Gensler to Leave SEC
Will Europe catchup with the international CBDC race & what will Gensler's departure mean for Crypto in the U.S.?
Austin Hodge
November 22, 2024 • Read Time: 12 minutes
The European Central Bank is sounding the alarm, urging Europe to kick it into high gear on the digital euro front. As global competitors like China and the UK zoom ahead, the ECB is stuck in a legislative quagmire. ECB project manager, Evelien Witlox, has made it clear: Europe can't afford to dawdle any longer. The ECB's call to action underscores a pressing need to shed reliance on foreign payment giants and carve out financial sovereignty. President Lagarde's hint at a 2027 debut needs more than hope—it's a clarion call for swift, unified action.
Meanwhile, the U.S. SEC’s controversial leader and crypto critic, Gary Gensler announced his resignation effective Jan 20, 2025 when Trump takes office. At the same time, Trump’s team has been busy amidst Bitcoin’s historic 40% monthly explosion to almost $100k as he reiterates his proposal for a U.S. Bitcoin reserve, names a candidate for the new White House Crypto Advisor Role, and meets with another contender for the Treasury Secretary position.
What does all this mean for the crypto world?
Let’s dive in!
ECB urges faster digital euro progress to avoid lagging behind China's digital yuan and other global CBDC initiatives. — Read More
UK reveals plans for a crypto regulatory framework in 2025, addressing stablecoins and staking services. — Read More
Trump Media files trademark for TruthFi, signaling foray into crypto payments, financial custody, and asset trading to diversify ventures. — Read More
Mastercard teams up with J.P. Morgan to revolutionize cross-border payments via blockchain technologies, enhancing transaction speed and transparency. — Read More
Charles Schwab plans to introduce spot crypto trading as US regulations are expected to evolve under Trump. — Read More
Major crypto firms like Ripple, Kraken, and Circle vie for a spot on Trump's advisory council, expected to influence future US crypto policies. — Read More
SuiHub and partners launch a 12-week accelerator offering funding and support to blockchain start-ups. — Read More
Russian firms rapidly file 150 crypto mining applications, expecting more as Moscow mandates registration. — Read More
South Korea's Democratic Party proposes a bill to raise the crypto tax threshold to 50 million won, aligning it with stock market traders. — Read More
Reddit’s r/cryptocurrency community partners with Unstoppable Domains to offer .MOON domains leveraging Polygon blockchain. — Read More
💶 @ecb urges rapid action on the digital euro project to avoid falling behind with global competitors in the race for #CBDCs.
#ECB#DigitalEuro#CentralBankDigitalCurrency
cryptonews.com/news/digital-e…— Cryptonews.com (@cryptonews)
5:02 PM • Nov 21, 2024
Gensler out, Trump's crypto plan in
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Gensler exits @SECGov
Our General Council @JusNode comments in @RTB_io:“Gary Gensler's departure marks an opportunity for a fresh approach to digital asset regulation in the United States. The technology isn’t going away" - Eli Cohen
More of Eli's takes below… x.com/i/web/status/1…
— Centrifuge (@centrifuge)
2:41 AM • Nov 22, 2024
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