The acting head of the US Securities and Exchange Commission (SEC) has directed staff to explore scrapping a plan that would have imposed stricter rules on cryptocurrency firms.
The proposal, introduced in 2022, aimed to classify certain crypto firms as alternative trading systems, subjecting them to increased oversight.
However, SEC Acting Chairman Mark Uyeda now considers this move a mistake, particularly as it was tied to Treasury market regulations.
Uyeda argued that linking government securities regulation with the crypto sector created unnecessary burdens. Speaking to bankers, he stressed the importance of separating the two and has asked SEC staff to revisit discussions with financial regulators about the original Treasury market plans.
The shift comes amid a broader change in the SEC’s approach to crypto under Republican leadership. In January, the agency formed a dedicated crypto task force and has begun pausing or dropping lawsuits against crypto firms, signalling a major policy shift towards a more industry-friendly stance.
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Michael Saylor has unveiled an ambitious cryptocurrency strategy at the White House Digital Assets Summit, arguing that the US could unlock up to $100 trillion in economic value over the next decade.
He called for clear regulations, the removal of barriers to innovation, and a strategic acquisition of bitcoin to strengthen the financial system.
Saylor proposed a four-part framework for digital assets, categorising them into digital tokens, securities, currencies, and commodities like Bitcoin.
His plan aims to reduce regulatory uncertainty, ensure the US dollar remains dominant in global trade, and integrate cryptocurrencies into mainstream finance.
He also urged the government to support major banks in holding and trading Bitcoin while ending what he described as ‘hostile’ tax policies towards the industry.
The summit, seen as a shift towards a more crypto-friendly stance under Trump’s administration, gathered industry leaders from Coinbase, Ripple, Kraken, and others.
A key part of Saylor’s vision includes a US Bitcoin reserve, with the country acquiring 5% to 25% of the total Bitcoin supply by 2035. He projected this could generate up to $81 trillion by 2045, offering a long-term solution to national debt challenges.
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Christine Lagarde, President of the European Central Bank (ECB), has confirmed the bank’s target to finalise preparations for the digital euro by October 2025. However, the project’s actual launch remains uncertain, as it hinges on legislative approvals and cooperation from various stakeholders. Despite the urgency, the ECB is facing delays due to the complexity of the legislative process.
The digital euro will consist of two components: a retail version for public use and a wholesale version for financial institutions. The retail version promises privacy protections, free transactions, and offline functionality, while the wholesale arm aims to streamline interbank settlements and cross-border payments. Although preparations are underway, experts predict that a full launch may not occur until 2028.
Privacy concerns and potential impacts on commercial banks are among the challenges the ECB is addressing. To reassure the public, the ECB has committed to strong privacy standards and is exploring blockchain technologies like Ethereum to underpin the digital euro. The project comes as global competitors, such as China’s digital yuan and the rise of US stablecoins, intensify the pressure on Europe to maintain its monetary sovereignty.
While the ECB is making significant strides, the final approval and launch of the digital euro will depend on future legislative decisions and overcoming technical hurdles. The timeline remains uncertain, but the ECB’s preparations signal that the eurozone is keen to remain competitive in the digital currency space.
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Mark Carney has been elected as Canada’s new prime minister, succeeding Justin Trudeau. Carney, a former central banker and long-time critic of Bitcoin, made headlines in 2018 when he called the digital currency’s fixed supply a ‘serious deficiency.’ He argued that recreating a global gold standard like Bitcoin would be a ‘criminal act of monetary amnesia,’ highlighting the speculative risks of the cryptocurrency market.
Carney’s stance on Bitcoin is at odds with some political figures, including former Prime Minister Trudeau, who also expressed scepticism about the crypto market. Carney has instead championed central bank digital currencies, seeing them as a tool to increase financial inclusion and combat economic crime. He also served as a board member for Stripe, a payments company that embraced crypto solutions between 2022 and 2024.
In his victory speech on 9 March, Carney also focused on addressing US tariffs, condemning President Donald Trump’s trade policies. Carney vowed that Canada would continue to retaliate with tariffs, asserting that the country would never be part of the US, no matter the circumstances.
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FIFA President Gianni Infantino has suggested that the organisation may develop its cryptocurrency to engage with football fans worldwide. Speaking at President Trump’s White House Crypto Summit, Infantino shared FIFA’s interest in launching a digital token, emphasising its potential to connect with the sport’s five billion supporters.
While no official plans or timelines were revealed, the idea signals FIFA’s growing interest in blockchain technology as a tool for fan interaction and financial growth. Trump responded enthusiastically, joking that such a coin could one day be worth more than FIFA.
Following the announcement, a cryptocurrency unrelated to FIFA named ‘FIFA’ skyrocketed by 357,000% due to market confusion, briefly reaching a valuation of $8.2 million. Meanwhile, the summit introduced key crypto policies, including a US Strategic Bitcoin Reserve, indicating a shift in regulatory approach under Trump’s administration.
As FIFA prepares for the 2026 World Cup in North America, Infantino’s statement highlights the growing intersection of cryptocurrency and football, suggesting that digital assets could play a significant role in the sport’s future.
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Spanish banking giant BBVA has received approval from the country’s financial regulator to offer Bitcoin and Ether trading to its clients.
The lengthy process, which began years ago, is now complete after the bank awaited clear regulations under the EU’s MiCA framework.
BBVA initially explored launching crypto services in Switzerland due to its established regulatory environment, but with MiCA now fully in effect, the bank has secured approval in Spain.
BBVA’s recent expansion into crypto trading in Turkey through a local subsidiary led to this development.
Other major European banks have also entered the crypto space, with Deutsche Bank developing an Ethereum rollup and Société Générale launching a euro stablecoin. BBVA’s move signals the growing institutional adoption of digital assets globally.
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Anatoly Yakovenko, co-founder of Solana, has voiced strong opposition to President Trump’s idea of creating a US crypto reserve, arguing that the proposal undermines the very principles of decentralisation by placing control in the hands of the government.
Yakovenko believes that a true crypto reserve should be based on measurable and objective criteria to ensure fairness and decentralisation, rather than being managed by the government.
The US reserve, which is intended to include major cryptocurrencies like Bitcoin, Ethereum, and Solana, has sparked debate within the crypto community.
Yakovenko clarified that he had not been consulted about the inclusion of Solana in the reserve and that he did not support the idea of a national crypto reserve.
He instead advocated for state-run reserves, which he sees as a way to hedge against potential mistakes by the federal government.
While many in the crypto industry are preparing for the White House Crypto Summit, where several high-profile figures will attend, Yakovenko has not confirmed whether he will be joining the event.
Some sources suggest that Ripple CEO Brad Garlinghouse lobbied for Solana’s inclusion in the reserve to make the case for XRP stronger, though Yakovenko has denied this claim.
For Yakovenko, decentralisation remains the core value of crypto, and any initiative that places power in the hands of a central authority risks undermining the entire ecosystem.
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World Liberty Financial, a decentralized finance (DeFi) project backed by the Trump family, has made a significant $20 million investment in digital assets ahead of the White House’s first-ever crypto summit on 7 March.
The purchase includes $10.1 million in Ether, $9.9 million in Wrapped Bitcoin, and $1.68 million in Movement Network’s MOVE token. The move has attracted attention due to its timing, with the summit set to explore the future of crypto policy and the potential creation of a Bitcoin reserve.
World Liberty, launched by President Trump’s family in September, aims to allow crypto holders to trade and earn interest on assets without relying on centralised intermediaries.
The project has raised some eyebrows due to a previous report alleging attempts to swap its forthcoming WLFI tokens with other projects, though the company has denied any wrongdoing, clarifying that asset reallocations are for regular business purposes.
The timing of this large acquisition has sparked curiosity, especially with discussions about establishing a US crypto reserve at the summit. Adding to the intrigue, David Sacks, the US crypto czar, criticised past sales of Bitcoin by the government, which resulted in significant losses for taxpayers.
With the summit expected to feature key figures in the crypto industry, it remains to be seen how these developments will shape US policy on digital assets in the future.
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Dubai’s government-owned bank Emirates NBD has entered the cryptocurrency market through its digital banking arm, Liv. The bank has launched cryptocurrency trading services on its Liv X app, allowing users to buy, hold, and sell digital assets. The feature, introduced on 5 March, is powered by Aquanow, a licensed crypto asset service provider. At launch, the platform supports Bitcoin, Ethereum, Solana, XRP, and Cardano, with secure custody managed by Zodia Custody, a regulated crypto custodian which received strategic investment from Emirates NBD.
The UAE continues to emerge as a key player in global cryptocurrency adoption, supported by progressive regulations and rising interest from both institutions and retail investors. A survey found that one in ten UAE residents has invested in digital currencies, with Emiratis showing the highest level of interest. Between July 2023 and June 2024, the country received over $30 billion in cryptocurrency transactions, ranking it among the top 40 nations globally and the third-largest crypto economy in the MENA region.
Beyond cryptocurrency, Liv offers a range of digital banking products, including investment accounts, cashback rewards, and goal-based savings tools. Meanwhile, calls for a unified cryptocurrency regulatory framework in the Gulf are gaining momentum. Saudi economist Ihsan Buhulaiga has urged GCC nations to collaborate on crypto regulations, recognising the growing use of digital assets for payments. With the UAE already positioning itself as a haven for crypto businesses, the region is set to play a leading role in the future of digital finance.
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President Trump has signed an executive order to establish a Strategic Bitcoin Reserve, aiming to safeguard seized Bitcoin as a national asset.
The reserve will be funded solely through Bitcoin obtained via asset forfeiture, ensuring no financial burden on taxpayers. White House AI and Crypto Czar David Sacks estimated that the government holds around 200,000 BTC, though an official audit is yet to be conducted.
The order mandates a full inventory of the government’s digital assets and bans the sale of Bitcoin from the reserve, likening it to a ‘digital Fort Knox’.
A separate Digital Asset Stockpile will be created to store non-Bitcoin cryptocurrencies seized in legal actions, but the government will not purchase additional crypto beyond this method.
Trump’s administration has also tasked the Treasury and Commerce Departments with exploring ways to expand the Bitcoin reserve without any extra cost to taxpayers.
Sacks criticised previous government Bitcoin sales, stating they cost the country over $17 billion in lost value. By halting these sell-offs, the new policy could reduce Bitcoin’s circulating supply, potentially reinforcing its status as a strategic asset similar to gold.
While the market has yet to react, the move signals a long-term shift in US crypto policy, supporting Trump’s vision of making the country the global leader in digital assets.
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