The European Union has approved ten stablecoin issuers under its Markets in Crypto-Assets (MiCA) framework, allowing them to operate within the region. Notable names include Circle, Crypto.com, and Societe Generale, with issued stablecoins pegged to both the euro and the US dollar. However, Tether, the issuer of USDT and the world’s largest stablecoin, has been left out, raising concerns over regulatory barriers limiting market participation.
With MiCA rules coming into full effect, some crypto platforms have already delisted USDT for EU users, cutting access to non-compliant stablecoins. Tether criticised these moves as premature and unnecessary, arguing that the regulatory framework remains unclear. Critics warn that the EU’s strict approach may discourage foreign firms from entering the market while pushing local crypto businesses to relocate elsewhere.
Regulatory experts suggest that while the MiCA framework provides clarity, it could come at the cost of innovation and competitiveness. Some argue that excessive red tape is hindering economic growth, with firms possibly looking beyond the EU for more favourable conditions. However, uncertainty in the UK’s crypto regulations makes it unclear where companies might seek new opportunities.
For more information on these topics, visit diplomacy.edu.
Google is working on a major initiative to simplify Bitcoin usage for billions of users, according to Kyle Song, a Web3 specialist at the company. Speaking at the Hong Kong Bitcoin Tech Carnival on 18 February, he revealed that Google has been exploring ways to integrate Bitcoin into its ecosystem, aiming to lower entry barriers for mainstream users.
The plan includes embedding Bitcoin wallets directly into Google accounts, allowing users to access them as seamlessly as any other Google service. The company is also working on making crypto payments as intuitive as existing Web2 payment methods. Security remains a top priority, with Google looking to deploy Zero-Knowledge Proofs or similar encryption technology to ensure trust between on-chain and off-chain systems.
Although Song’s comments were not an official announcement, the impact of such an integration could be transformative. If Google successfully integrates Bitcoin with Google Pay, crypto adoption could accelerate like never before. Billions of users might suddenly find themselves with an easy and secure way to buy, exchange, and spend Bitcoin.
However, not all ambitious tech projects succeed. Facebook and Telegram both attempted to integrate cryptocurrencies in 2020 but were forced to abandon their plans due to regulatory pressures. The environment in 2025 is different, with Bitcoin ETFs already approved and crypto adoption more widely accepted. If Google follows through, it could mark a new chapter for digital assets, bridging the gap between traditional finance and decentralised money.
For more information on these topics, visit diplomacy.edu.
Nigeria is set to amend its digital asset regulations to introduce taxes on cryptocurrency transactions, a move the government believes could generate significant revenue. A bill currently before the National Assembly aims to provide a legal framework for taxing transactions on regulated exchanges, with expectations for its adoption this quarter.
The Nigerian Securities and Exchange Commission (SEC) is also working on expanding crypto licensing, allowing exchanges to be monitored for tax compliance. The SEC issued its first exchange licence in August 2024 and has since taken steps to regulate unlicensed platforms.
With Nigeria ranked second in global crypto adoption, many citizens have embraced cryptocurrencies, especially stablecoins like Tether and USD Coin, to protect their wealth against the country’s high inflation and depreciating currency. In the last year, Nigeria received $21.8 billion in stablecoin transactions, leading the Sub-Saharan region.
For more information on these topics, visit diplomacy.edu.
Argentine President Javier Milei has denied endorsing the LIBRA meme coin, which recently surged in value before collapsing, leaving investors with heavy losses. He stated that he merely shared information about the token and never encouraged people to buy in. According to Milei, only a few Argentine investors were affected, with most traders coming from China and the US. He disputed reports that 44,000 people lost money, insisting the real number was closer to 5,000, primarily experienced traders who understood the risks.
Milei explained that Hayden Davis, one of LIBRA’s backers, had proposed a financial structure to support entrepreneurs struggling to secure funding. Seeing potential in the idea, he simply helped spread awareness. However, after facing political backlash, Milei admitted he must be more cautious about his public statements, acknowledging that he still acts as he did before becoming president and needs to be less accessible.
The controversy has rattled Argentina’s political and financial landscape, with opposition leaders accusing Milei of misleading the public and calling for his removal. The anti-corruption office has launched an investigation, alongside a legal probe led by Federal Judge María Servini. Meanwhile, Argentina’s financial markets took a hit, with the S&P Merval stock index dropping by 5%. Despite Milei’s insistence that he acted in good faith, scrutiny of his administration continues to intensify.
For more information on these topics, visit diplomacy.edu.
The European Securities and Markets Authority (ESMA) has proposed new guidelines to ensure crypto asset service providers meet strict competence and knowledge standards under the EU’s Markets in Crypto-Assets Regulation (MiCA). The regulator is seeking public feedback on the requirements, which aim to improve investor protection and strengthen trust in crypto markets.
Under the proposal, staff at crypto firms must demonstrate a clear understanding of blockchain technology, market operations, pricing mechanisms, and regulatory frameworks. The guidelines also recommend minimum qualifications, previous experience, and continuous professional development to ensure staff remain well-informed. Companies would be required to review staff competence annually, supervise unqualified employees, and keep detailed records of training and qualifications.
The consultation remains open until 22 April, with final guidelines expected in the third quarter of the year. Meanwhile, major crypto exchanges such as OKX, Crypto.com, and Bybit are working towards compliance with MiCA regulations to secure their operations in Europe.
For more information on these topics, visit diplomacy.edu.
Germany’s central bank chief, Joachim Nagel, has reinforced his scepticism towards Bitcoin, dismissing it as unsuitable for central bank reserves. Speaking at an event hosted by the London School of Economics, Nagel argued that Bitcoin is not a genuine currency but rather an asset class lacking liquidity and security. He also criticised the pro-crypto stance of former US President Donald Trump, particularly proposals to establish a strategic Bitcoin reserve. Comparing Bitcoin to the Dutch Tulip Mania of the 17th century, he warned of its speculative nature and volatility.
In contrast, Nagel is a strong advocate for the digital euro, highlighting its potential to strengthen Europe’s financial sovereignty. He cautioned that reliance on private sector payment solutions, particularly from US firms, could expose Europe to geopolitical risks. While the long-term effects of central bank digital currencies (CBDCs) on interest rates remain uncertain, he emphasised their importance in ensuring a resilient financial system.
Meanwhile, the US is shifting its regulatory approach to cryptocurrency. Under Acting SEC Chair Mark Uyeda, new policies have allowed banks to re-enter the crypto custody sector. The SEC recently replaced its restrictive guidance, paving the way for regulated financial institutions to hold digital assets. As these developments unfold, Bitcoin is currently trading at $96,318, marking a slight decline over the past week.
For more information on these topics, visit diplomacy.edu.
Russian brokerage Finam is set to launch structured notes linked to BlackRock’s iShares Bitcoin Trust ETF (IBIT), providing qualified investors in Russia with exposure to Bitcoin ETFs. The new investment product, available from 17 February, will be one of the first IBIT-based structured notes with a six-month maturity period.
The IBIT bond will be denominated in Russian roubles, with returns calculated in dollar equivalents based on the Bank of Russia’s exchange rate. Investors stand to earn up to 20% in returns if the ETF price at maturity exceeds the initial launch price by at least one basis point. The minimum investment is 200,000 roubles ($2,200), and the brokerage will charge a 1% commission.
Finam’s move comes amid regulatory uncertainty in Russia. While there is no explicit ban on crypto ETFs as underlying assets for structured bonds, the legal framework remains ambiguous. The country has, however, been warming to Bitcoin, with the Finance Minister confirming in December 2024 that Russian legislation permits foreign trade using Bitcoin and other digital financial assets.
For more information on these topics, visit diplomacy.edu.
South Korea is set to gradually lift its ban on corporate cryptocurrency trading, according to the latest announcement from the Financial Services Commission. The phased approach will begin with law enforcement agencies, non-profits, universities and school corporations being permitted to sell Bitcoin and Ethereum for the purpose of cashing out in the first half of the year.
In the second phase, listed companies and corporations will be allowed to buy and sell digital assets under a pilot programme. The expansion, expected in the latter half of the year, will be regulated under South Korea’s Capital Markets Act, providing a structured framework for professional investors.
The ban, imposed in 2017 to tackle speculation and financial crime, is being eased following the implementation of the Virtual Asset User Protection Act. Authorities argue that stronger safeguards now allow for regulated institutional participation, aligning with global trends where businesses are increasingly integrating digital assets.
To ensure a smooth transition, the Financial Services Commission will form a task force in collaboration with banks, regulators and crypto exchanges. The group will develop internal control standards and trading guidelines, ensuring South Korea’s corporate sector can engage in digital assets securely and transparently.
For more information on these topics, visit diplomacy.edu.
Michigan has introduced a bill to create a strategic cryptocurrency reserve, joining 19 other US states exploring similar initiatives. The proposal, put forward by Representatives Bryan Posthumus and Ron Robinson, would allow up to 10% of the state’s general and economic stabilisation funds to be invested in digital assets.
The bill grants the state treasurer authority to manage crypto holdings using secure custody solutions or regulated investment products. It also permits lending cryptocurrency to generate additional returns, provided it does not increase financial risk. Additionally, any crypto tax payments must be converted into fiat currency before being allocated to state funds.
Michigan’s proposal follows a similar bill in Texas and reflects a growing trend amongst states to embrace digital assets. The move builds on Michigan’s previous crypto investments, including its significant holdings in Bitcoin and Ethereum exchange-traded funds.
For more information on these topics, visit diplomacy.edu.
Coinbase is making fresh efforts to relaunch its services in India after its failed attempt in 2022. The US-based crypto exchange is reportedly in discussions with Indian regulators, including the Financial Intelligence Unit, in a bid to secure approval for its operations.
The exchange first launched in India in April 2022, introducing support for the UPI payment system. However, within days, the National Payments Corporation of India declined to back its services, and regulatory pressures forced Coinbase to halt operations. In 2023, the company further restricted access by disabling new user sign-ups for Indian customers.
Despite past obstacles, Coinbase is now looking to return under proper regulatory oversight. Its comeback could provide an alternative for traders following the collapse of WazirX, while its investments in local platforms like CoinSwitch and CoinDCX may also support its efforts.
India’s crypto market faces challenges, including a 30% tax on digital asset earnings and a 1% levy on transactions, which have slowed growth. However, with Coinbase preparing for a fresh push, the exchange could play a key role in reviving trading activity in the country.
For more information on these topics, visit diplomacy.edu.
