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Operation Choke Point 2.0 is an alleged initiative by the Biden administration aimed at restricting crypto firms' access to banking services, drawing parallels to a previous program under Obama. Critics argue that regulatory actions from agencies like the SEC and FDIC have pressured banks to sever ties with the crypto industry, despite official denials of the program's existence. Trump has pledged to dismantle this initiative if re-elected, echoing his previous efforts to end the original Operation Choke Point.
The US Securities and Exchange Commission (SEC) has approved the first hybrid Bitcoin and Ethereum index exchange-traded funds (ETFs) from Franklin Templeton and Hashdex, set to launch in January 2025. These ETFs will hold spot BTC and ETH in an 80:20 ratio, with potential for future inclusion of other cryptocurrencies pending regulatory approval. The approval reflects the SEC's alignment with the Exchange Act's criteria, emphasizing investor safeguards against fraud and manipulation.
BPCE, a major French banking group, is set to enter the cryptocurrency market in 2025 through its subsidiary Hexarq, which has secured PSAN authorization to operate in the digital asset sector. This initiative aims to meet rising customer demand for crypto services and enhance client loyalty within the Banque Populaire and Caisse d’Épargne networks.As France positions itself as a leader in crypto regulation with the upcoming MiCA framework, BPCE's move reflects a broader trend of traditional banks embracing digital assets. Hexarq will compete with established players like SG Forge, potentially setting a precedent for other institutions in the evolving financial landscape.
BPCE, one of France's largest banks, is set to launch Bitcoin and crypto investment services in 2025 through its subsidiary Hexarq, which has recently obtained PSAN authorization from the AMF. This makes Hexarq the second bank in France to receive such approval, allowing it to operate in the digital asset market.The services will be accessible via an app targeting customers of Banque Populaire and Caisse d’Épargne, marking BPCE's significant entry into the digital asset space after years of limited involvement. France is leading the EU in establishing regulatory frameworks for crypto asset service providers, with the AMF accepting applications under the new MiCA regulations.
The SEC has approved the first spot Bitcoin and Ethereum combo ETFs from Hashdex and Franklin Templeton, set to launch in January with an 80/20 allocation favoring Bitcoin. This marks a significant step in the U.S. crypto ETF market, which has seen substantial inflows, particularly in Bitcoin ETFs. Speculation continues around potential future approvals for Solana and XRP ETFs, though analysts suggest Litecoin and Hedera may come first due to regulatory clarity.
Analysts predict a potential 4x rally for Shiba Inu (SHIB) by 2025, with price targets ranging from $0.0000234 to $0.0000998, despite recent volatility and a 6% drop to $0.00002416. Heavy sell-offs by whales have triggered panic among investors, leading to significant liquidations and concerns over a declining burn rate. The technical outlook suggests that patient investors may see long-term rewards as SHIB navigates through current market challenges.
Caroline Crenshaw will not be renominated as SEC Commissioner after the Senate Banking Committee canceled the scheduled markup vote. Her tenure, marked by opposition to crypto policies and alignment with SEC Chairman Gary Gensler, faced significant pushback from the crypto industry, which portrayed her as "more anti-crypto than Gensler." Industry leaders and organizations actively campaigned against her reappointment, highlighting the ongoing tensions between regulatory oversight and crypto market development.
FTX has recovered approximately $14.5 million through settlements related to political donations, including $6 million from the House Majority PAC and $3 million from the Senate Majority PAC. This recovery is part of ongoing efforts to reclaim assets linked to Sam Bankman-Fried's extensive political contributions during his tenure as CEO. As the bankruptcy estate seeks to retrieve misallocated funds, legal actions have also been initiated against major platforms like Binance and Crypto.com, with creditor reimbursements expected to begin in early 2025.
The MiCA regulation will take effect on December 30, requiring EU crypto firms to comply within 18 months, though many member states, like Ireland, have opted for a shorter 12-month timeline. With 20% of firms unclear on compliance, the risk of losing access to the EU market looms for those unprepared. Non-compliance could lead to restrictions, fines, or legal action as the EU moves towards stricter crypto regulations.
Investor Dan Tapiero predicts significant growth for US-based decentralized finance (DeFi) over the next two years, following its previous exodus due to regulatory challenges. He highlights that institutions are beginning to recognize the potential of DeFi, which currently holds only 2% of the total $4 trillion in the broader financial market. With platforms like Coinbase and Kraken facilitating access, Tapiero believes the total value locked in DeFi, currently at $136.232 billion, is poised for substantial expansion.
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