Crypto Gigantic Move Incoming

Crypto Gigantic Move Incoming, on Oct. 4^th, Mr. Musk proposed a deal to acquire Twitter for $44 billion,
the price he agreed to pay for the company in April.

Topics

Crypto Tweets
Europe Finalizes Landmark Crypto Rules
How the U.S. Framework Could Back Crypto

Crypto Tweets

An agreement at the original price would be a victory for Twitter shareholders who have seen the stock languish since
Mr. Musk first announced his interest in buying it nearly six months ago, but it is also a sign that
Mr. Musk is serious about using Twitter to promote his businesses and causes —
and that he believes the social media platform can help him achieve his goals, whatever they may be.

For investors in cryptocurrencies, this move could signal that Mr. Musk sees value in digital currencies as well
and could start accepting them as payment for Tesla products or services, in fact, some believe that this might
be one of the reasons why he was so interested in acquiring Twitter in the first place –
so he would have direct access to millions of crypto enthusiasts through tweets.

Europe Finalizes Landmark Crypto Rules

After two years of back-and-forth, policymakers reached an agreement on the legislative package in June.
The regulation will require anyone wishing to issue cryptocurrency to publish a “crypto-asset white paper”
containing information about their project. This means that stable coin issuers will be subject to specific capital
requirements and will be required to hold reserves to back up
the value of their tokens in an amount proportional to the amount issued.
Meanwhile, the legal text will be submitted to the European Parliament for approval before being published
in the Official Journal of the European Union early next year, with the rules set to go into effect in 2024.

The EU has chosen a cautious but pragmatic approach to regulation, balancing investor and consumer
protection while enabling innovation to flourish.
The new restrictions will assist to combat crime and fraud
while still allowing genuine firms to grow.
This is a significant step forward for the Bitcoin business,
which has frequently been plagued by regulatory uncertainty.

With these new laws in place, Europe is sending a clear statement
that it is open to the cryptocurrency industry.
This is wonderful news for investors and traders who wish to engage

in this market with confidence because clear guidelines are in place.

How the U.S. Framework Could Back Crypto

One of the most encouraging aspects of Biden’s assessment is that the White House did not immediately declare
its intention to crack down on cryptocurrency. While they obviously want to get a grasp on any unlawful financial
activities that may occur through crypto, the US president did not indicate he is against crypto in general. Instead,
the White House appears to be warming to digital money. According to the framework,
creating a CBDC or a central bank digital
currency might have “substantial benefits” for the United States.
That would essentially be a digital format for the US currency.

Some cryptocurrency industry insiders have already seen the writing on the wall. They predict the
The United States will eventually develop its own digital currency.
The blueprint does not provide a timeline,
but it does state that the Biden administration will “engage with the business sector, Congress, and other
stakeholders” on the concept of a digital dollar, which includes a framework that was also critical of China’s digital money.

The creation of China’s digital currency

“The creation of China’s digital currency might generate distinct standards for global digital currencies,
lessen the dominance of the US dollar, and empower China with greater control over how its currency is used abroad,
” according to the plan. The plan also stated that the United States should do a better job of regulating crypto assets,
and it called for greater openness and responsibility in the crypto sector.

There is now a lot of ambiguity around how crypto assets are purchased and traded,
and the United States needs to do a
a better job of comprehending crypto assets and their risks.
The United States must do a better job of countering money laundering
and terrorist funding, and it must exert greater
pressure on cryptocurrency exchanges to comply
with anti-money laundering legislation also should think about whether
additional restrictions are required to safeguard investors and consumers from fraud and manipulation.
They need to make sure that persons who invest in crypto assets pay their taxes.

Overall, the Biden administration’s plan is a great step forward for the crypto sector.
It demonstrates that the US is taking cryptocurrency seriously and is prepared to collaborate
with the sector to develop a regulatory framework that works for everyone.

Crypto Gigantic Move Incoming

Related Topics