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Marcus Sotiriou, Market Analyst at Listed Digital Asset Broker global block (TSXV:BLOK).
Crypto regulation is progressing globally as Bitcoin consolidates at around $24,000. First, his Ingenico, a global payments giant with his 40 million terminals in 37 countries, is now accepting crypto payments in France by integrating its digital asset platform. Additionally, personal Bitcoin wallets will not be banned by the EU’s new anti-money laundering bill, allowing people to participate in self-custody legally in the EU. This is a big win for crypto enthusiasts and digital asset platforms implementing self-custody. Additionally, the mayor of Lugano, Switzerland, has revealed that it will launch a spring school program for bitcoin education in March.
In the United States, a bill was introduced by a member of the House of Representatives that would prevent the Federal Reserve from issuing a CBDC. Whether this bill will accomplish this remains to be seen, but I think it’s a step in the right direction for the American people. Lack of sovereignty brought about by CBDC.
These advances run counter to recent US regulatory action, with New York and federal financial regulators objecting to a $1.02 billion deal to buy Voyager’s assets by Binance.US. Bankrupt digital asset platform Voyager previously claimed the NYDFS objection was hypocritical because regulators themselves limit the ability of cryptocurrencies to circulate.
However, as mentioned earlier, positive developments in other regions serve as a reminder that cryptocurrencies are a global asset class and that the US risks being left behind.
