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United States lawmakers who benefitted from support from the cryptocurrency industry in their respective 2024 primaries or elections will soon be sworn into office for the 119th session of Congress.
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Of the approximately 400 new ETFs launched in 2024, the four biggest launches by inflows have all been spot BTC ETFs, Geraci said in September.
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Bitcoin has dominated the ETF landscape this year, accounting for six of the top 10 most successful launches in 2024, Nate Geraci, president of The ETF Store, said in an X post.
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On Nov. 21, US Bitcoin ETFs broke $100 billion in net assets for the first time, according to data from Bloomberg Intelligence.
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On Dec. 16, the FCA posted a warning against the Retardio project, saying that the token may be providing or promoting financial services without the regulator’s permission.
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The United Kingdom’s Financial Conduct Authority (FCA) issued a warning about the Solana-based “Retardio” project, citing concerns over unauthorized financial promotions and activities targeting UK consumers.
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In its latest rulebook, the ECB said it continues preparations for a potential digital euro launch and expects to make a final decision on the matter by October 2025.
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European authorities have been struggling with a decision on a digital euro as many have expressed concerns about its privacy risks, possible threats to private payment firms and other issues.
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The European Central Bank published one of its first reports dedicated to a potential digital euro in October 2020, starting a long-running examination of its potential and risks.
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The ECB has been officially studying the concept of a CBDC for more than four years, but the EU has yet to decide on launching a digital euro.
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“It is time to change the paradigm. It is time to protect our people from inflation and the poor economic choices of our states. It is time to say no to the totalitarian temptations of the European Central Bank, which wants to impose a digital euro entirely in its hands,” Knafo said, adding:
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Europe has taken a different approach to crypto regulation, Knafo said, adding that local regulators have been primarily focused on regulation, taxation and stifling innovation.
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She also mentioned that US Federal Reserve Chair Jerome Powell referred to Bitcoin as digital gold in early December.
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In her speech, Knafo compared crypto regulation developments worldwide, citing El Salvador’s Bitcoin adoption in 2021 and the crypto-friendly agenda of United States President-elect Donald Trump’s incoming administration.
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A House-originated stablecoin regulatory framework bill has also stalled after passing the Financial Services Committee in July 2023.
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The House passed the crypto regulatory-defining Financial Innovation and Technology for the 21st Century Act (FIT21) in May, but it stalled in the Senate banking committee, which Scott will now chair.
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In October, Hill said he was optimistic that a crypto regulation bill and a stablecoin bill could move forward in Congress before the end of this year. If that doesn’t happen, he and Scott now hold more sway to push them through in 2025.
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Hill formerly chaired the committee’s digital assets subcommittee and now takes over from the staunchly pro-crypto McHenry, who announced in December 2023 that he wouldn’t seek reelection after 20 years in office.
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“Now Alts is getting slammed while $BTC chops,” the trader said, adding that the funding rate is getting healthier across the board.
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Similarly, Reetika, an anonymous trader, indicated that the current altcoin dump is a delayed reaction to BTC’s leverage flush last week when the altcoin managed to avoid a correction.
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