OKX, a leading cryptocurrency exchange, has expanded into Belgium by launching its trading platform and self-custodial wallet. The new services offer Belgian customers access to over 200 cryptocurrencies, with euro deposits and withdrawals facilitated through Bancontact, a widely used payment system in the country.
Operating through its Malta-based entity, OKX provides services to Belgium under EU regulations without direct approval from Belgian authorities. Customers can trade after completing verification via the Itsme identification app, ensuring secure and compliant access.
With 25% of Belgians already engaged with cryptocurrency, OKX’s launch comes amid growing interest in digital assets. By 2028, crypto penetration in Belgium is projected to reach 28%. OKX’s entry aligns with its broader European expansion strategy, which includes prior launches in the Netherlands and plans for an EU regulatory hub in Malta.
Vancouver’s mayor, Ken Sim, is pushing for the city to embrace Bitcoin, positioning it as a leader in cryptocurrency adoption. During a city council meeting on 26 November, Sim proposed integrating Bitcoin into Vancouver’s investment portfolio as part of a broader effort to diversify financial assets.
The initiative aligns with a growing global trend of Bitcoin adoption by institutional investors. Major entities such as Japan’s Government Pension Investment Fund (GPIF) and the State of Wisconsin Investment Board have already included Bitcoin ETFs in their holdings. Similarly, asset management giants like Goldman Sachs are increasing their exposure to Bitcoin, showcasing its growing role in mainstream finance.
Sim’s vision highlights Bitcoin’s potential to preserve purchasing power while modernising the city’s financial strategies. If implemented, this move could place Vancouver among the world’s pioneering Bitcoin-friendly cities.
Tether, the issuer of USDt, has announced the discontinuation of its euro-pegged stablecoin, EURt. Users are advised to redeem their holdings within the next year, with a final deadline set for November 2025. The decision comes as Tether adjusts its strategy to align with Europe’s evolving regulatory landscape for stablecoins.
The move coincides with the implementation of the European Markets in Crypto-Assets (MiCA) Regulation, which will come into effect by late 2024. Tether previously criticised MiCA’s approach to stablecoins, citing concerns over systemic risks. As part of its shift, the company will now focus on MiCA-compliant initiatives, such as EURq and USDq stablecoins, developed with Dutch fintech firm Quantoz Payments.
Tether’s Hadron tool will play a central role in these projects, offering simplified stablecoin management and enhanced compliance mechanisms. By investing in MiCA-friendly solutions, Tether aims to foster a stable and inclusive financial ecosystem while redefining innovation in the stablecoin space.
A federal judge in Little Rock, Arkansas, has temporarily blocked state officials from shutting down a cryptocurrency mining firm owned by a naturalised US citizen of Chinese descent. The company, Jones Eagle, was targeted under Arkansas laws prohibiting property and business ownership by Chinese nationals or entities, despite its owner, Qimin ‘Jimmy’ Chen, holding US citizenship.
The court’s restraining order, issued by Chief Judge Kristine Baker, stops Arkansas from taking immediate action against Chen’s business. Chen argued the state’s actions were discriminatory, as he had previously provided documentation confirming his US citizenship and compliance with local laws. The state’s case relied on Acts 636 and 174, which restrict property ownership by individuals linked to China and foreign digital asset miners.
The restraining order is in effect for 14 days, allowing time for a hearing to decide whether it will be extended. Chen’s legal team intends to challenge the constitutionality of the laws, describing them as overreaching and discriminatory. The outcome could have broader implications for property and business rights in the US amidst growing scrutiny of enterprises linked to China.
Donald Trump’s incoming administration is reportedly considering a significant shift in how cryptocurrency is regulated in the US. The Commodity Futures Trading Commission (CFTC) is being positioned to take over from the Securities and Exchange Commission (SEC) as the primary authority overseeing the digital asset sector. The move, if approved by Congress, would empower the CFTC to regulate crypto assets, exchanges, and emerging products like Bitcoin and Ethereum spot ETFs.
The SEC has faced criticism during Joe Biden’s presidency for its strict enforcement actions against crypto firms. In 2022 alone, the commission filed 46 lawsuits against crypto-related entities, a 53% increase from the previous year. Major exchanges like Binance and Coinbase were among the SEC’s primary targets, accused of operating unregistered platforms and breaching securities laws.
Trump’s plan is seen as an effort to create a more innovative and supportive environment for the cryptocurrency industry, which he views as a growing financial market with 50 million traders globally. By shifting oversight to the CFTC, the administration aims to promote development while ensuring proper regulation for the sector’s $3 trillion market size.
This proposed change marks a turning point in US crypto regulation, as the CFTC’s approach could redefine how digital assets are managed and potentially foster a more collaborative relationship with the industry.
The Bank of England is expediting its efforts to develop a central bank digital currency (CBDC), with Governor Andrew Bailey highlighting the urgency of creating a secure, accessible form of digital money for the UK. This move follows growing concerns that private fintech firms are outpacing traditional financial institutions in digital innovation, raising risks to financial stability, security and consumer privacy.
Bailey’s comments reflect a global challenge: central banks must modernise to keep pace with the rapid advancements in blockchain and Web3 technologies. Private sector firms, often operating with fewer regulatory constraints, are achieving breakthroughs that leave traditional systems struggling to adapt. However, their unchecked progress could deepen vulnerabilities in the global financial landscape.
The push for a digital pound is seen as essential not just for competitiveness but also for aligning with society’s shifting expectations. As consumers increasingly demand transparent, on-demand financial services, central banks face a crucial decision. They must either embrace partnerships with fintech firms and reform outdated frameworks or risk falling behind in the race for digital innovation. A CBDC, if implemented correctly, could pave the way for greater financial inclusivity and economic stability.
Morocco is preparing to regulate cryptocurrencies with a draft law currently in the process of adoption, according to central bank governor Abdellatif Jouahri. Despite a ban on cryptocurrencies since 2017, underground usage has persisted among the public, prompting Bank Al Maghrib to take steps toward formal oversight.
At an international conference in Rabat, Jouahri highlighted the bank’s dual focus on regulating crypto assets and exploring a central bank digital currency (CBDC). Unlike decentralised cryptocurrencies, a CBDC would be centrally managed, potentially supporting public policy goals such as financial inclusion.
This move reflects a global trend as countries assess how digital currencies can align with regulatory frameworks while fostering innovation. The initiative aims to address the risks of unregulated crypto use while leveraging its potential benefits for Morocco’s financial system.
Brazil has unveiled a proposal to create a sovereign Bitcoin reserve, aiming to integrate digital assets into its financial system. Congressman Eros Biondini introduced the bill on 25 November, calling for a Sovereign Strategic Bitcoin Reserve, known as RESBit, to safeguard the country’s economy from currency volatility and geopolitical risks. The reserve would also serve as collateral for Brazil’s forthcoming central bank digital currency, Real Digital.
The proposal suggests allocating up to 5% of Brazil’s $355 billion reserves to Bitcoin through phased purchases, with the central bank overseeing its management using blockchain and artificial intelligence technologies. Drawing inspiration from El Salvador, which adopted Bitcoin as legal tender in 2021, the bill highlights how Bitcoin has helped diversify economies and foster financial inclusion. El Salvador now holds nearly 6,000 BTC, valued at $542 million.
The draft law includes penalties for mismanagement of the RESBit reserve and is currently under review by the Speaker of Brazil’s House of Representatives. If approved, it will proceed to committees for further debate. Brazil continues to advance its digital asset policies, having established a legal framework in June 2023 to regulate virtual asset providers and securities tokens under its central bank and securities commission.
Crypto.com is set to host a groundbreaking golf tournament in Las Vegas on 17 December, offering a prize purse paid entirely in cryptocurrency. The Crypto.com Showdown will see PGA Tour stars Rory McIlroy and Scottie Scheffler face off against LIV Golf rivals Bryson DeChambeau and Brooks Koepka.
The prize, denominated in CRO, marks the first time a major sports event has awarded winnings exclusively in cryptocurrency. Crypto.com CEO Kris Marzalek highlighted the tournament as a step towards reshaping the sports and entertainment industries through digital assets.
Organised by BZ Entertainment and EverWonder Studio, the event aims to unify professional golf while showcasing the potential of cryptocurrency. With over 100 million users and partnerships spanning Formula 1, UFC, and FIFA, Crypto.com continues solidifying its influence in global sports.
Justin Sun, founder of the blockchain network Tron, has committed $30 million to World Liberty Financial (WLF), a project linked to US president-elect Donald Trump. In a social media post, Sun expressed his excitement about the partnership, calling it an important step for integrating blockchain technology with traditional financial services. While details on the project’s products remain scarce, its association with Trump has drawn significant attention.
WLF is in the process of launching its governance token, WLFI, with the Know Your Customer (KYC) verification open for accredited investors in the US and non-US persons. Trump had previously announced the opening of this verification process in October.
This investment comes amid Sun’s ongoing legal battle with the US Securities and Exchange Commission (SEC), which has filed a lawsuit accusing him of fraud, market manipulation, and unregistered securities sales. Despite the legal challenges, Sun continues to make high-profile moves in the business world, including his recent purchase of Maurizio Cattelan’s controversial artwork “Comedian” for $6.24 million.
