Crypto Council for Innovation

News Alert ?? There is a growing demand for euro-denominated digital assets - a new stablecoin is on the market. Here’s what you need to know: ? EUR?P enhances global digital payments, foreign exchange trading, and tokenized assets. ? Schuman Financial’s launch follows a successful $7.36 million seed round led by Kraken Ventures and more with plans for further chain integrations and DeFi protocol partnerships. ? EUR?P, supported by the first European stablecoin issuer license from France’s ACPR under MiCA, aims to capitalize on the growing demand for regulated euro-denominated digital assets and expand its ecosystem with major bank partnerships. Read more The Block ?? https://lnkd.in/en8vu_nS

News Alert ?? Singapore Gulf Bank (SGB) raises $50 million and plans acquisition of stablecoin payments firm to enhance crypto offerings. ? The bank, backed by Whampoa Group and Bahrain Mumtalakat Holding Company ("Mumtalakat"), is in talks to sell an equity stake and acquire a stablecoin payments business in early 2025. ? The funding will be used to accelerate product development, enhance its payment network, and hire additional staff to strengthen its crypto infrastructure. ? Singapore Gulf Bank’s platform, which integrates traditional and digital assets, is set to offer services to individuals by the end of the year, as interest in stablecoins continues to grow globally. Read more Bloomberg ?? https://lnkd.in/edmYuJFF

News Alert ???? China’s crypto crackdown clashes with blockchain ambitions as global policies shift. ? Despite its tough stance on crypto trading and mining, China may need to reconsider its approach to crypto particularly following the U.S. election of a pro-crypto president. ? While regulators cite risks such as financial instability and illegal activities, experts argue that China should embrace blockchain innovation, adjusting its policies to foster growth in this sector. ? The country’s stringent regulations pushed many blockchain projects abroad, with Chinese companies seeking opportunities in places like Singapore, Hong Kong, and the US. Read more The Block ?? https://lnkd.in/eyn5F9Az

News Alert ???? Brazil’s Central Bank partners with Chainlink, Microsoft and Banco Internacional for cross-border CBDC trade finance pilot, Drex. ? Brazil's Central Bank is launching the second phase of its digital currency pilot focusing on cross-border trade finance and supply chain automation. ? The pilot will use Chainlink’s oracles to enable seamless transactions between Brazil’s Drex platform and foreign central banks, tokenizing Electronic Bills of Lading to automate payments. ? This initiative demonstrates how blockchain technology can enhance global trade efficiency and transparency, with Microsoft providing cloud services and Banco Inter overseeing implementation on the Drex platform. Read more The Defiant?? https://lnkd.in/egSh4aGK

CCI Analysis ???? Crypto adoption continues to soar in India despite government crackdown and high taxation. ? India leads the world in crypto adoption for the second consecutive year, with 20% of the population owning crypto. ? The country’s crypto activity is driven by an interest in Bitcoin and Ethereum, with many using crypto for long-term investment and portfolio diversification. ? While the government imposed strict regulations and high taxes on crypto, it has fostered blockchain use and launched its own CBDC, with some hoping for more regulatory clarity in the future. Read more ?? https://lnkd.in/eX4x4jpz

CCI Analysis ???? Belgium leads the EU in crypto innovation, driving MiCA implementation, blockchain payment pilots, and ESG standards. ? Belgium is a leader in crypto and blockchain regulation, playing a central role in shaping the European Union’s regulatory framework and innovation strategies. ? Major initiatives include MiCA implementation, cross-border blockchain payment pilots, and the creation of the EUROPEUM-EDIC consortium. ? Belgium drives sustainability and compliance in the crypto ecosystem, introducing ESG standards for blockchain and enhancing global AML efforts. Read more ?? https://lnkd.in/e_VmvG4V

News Alert ???? UK to draft crypto and stablecoin regulations early next year, aligning with the European Union's new framework. ? The regulatory framework will focus on crypto, stablecoins, and staking services, ending months of uncertainty for the industry. ? The new rules will follow the previous government’s measures to regulate crypto activities but will ensure that stablecoins and staking are treated separately from traditional payments and investments. ? This move comes as the EU’s MiCA regulations take effect, marking a significant shift in the region's approach to crypto regulation, with cross-border licensing for crypto providers set to benefit firms across the EU. Read more CoinDesk?? https://lnkd.in/dPPzuHgr

???? Belgium is at the Forefront of Crypto Policy Development in the EU and Internationally As the de facto capital of the European Union, Brussels, Belgium continues to shape the global conversation on crypto and blockchain regulations in 2024, reinforcing Europe’s position as a hub for digital innovation and financial stability. ?? ?? Here are the key crypto and blockchain policy developments in Belgium this year: 1?? Implementing the MiCA Regulation: Belgium has actively participated in the EU-wide adoption of MiCA, providing a comprehensive legal framework for crypto-assets. The regulation aims to enhance investor protection and market integrity across member states. Most provisions of MiCA will come into force in December 2024. https://lnkd.in/d4k_yZKV 2?? Pilot on Blockchain-Based Cross-Border Payments: This year, the European Central Bank initiated a pilot program to explore integrating blockchain technology into real-time gross settlement systems. This initiative aims to enhance the efficiency and security of financial transactions within the eurozone. The pilot involves collaboration with various financial institutions and technology firms across Europe, including notable participation from Belgian blockchain companies. https://lnkd.in/e9_SSXMu 3?? Creation of EUROPEUM-EDIC: Belgium is a founding member and hosting country of the newly established European Digital Infrastructure Consortium, created by the European Commission in May 2024. This legal entity, involving nine EU Member States, will expand the European Blockchain Services Infrastructure to deliver cross-border public services. It will promote innovation in blockchain and Web3 technologies while ensuring compliance with EU regulations, such as the European Digital Identity framework. https://lnkd.in/epwqfbXQ 4?? Regulatory Framework for Crypto Service Providers: Belgium implemented regulations requiring crypto service providers to register with the Financial Services and Markets Authority. This measure ensures compliance with anti-money laundering and counter-terrorist financing protocols, aligning with international best practices to prevent misuse of crypto. https://lnkd.in/eVSiYJBM 5?? International Collaboration on AML Compliance: The Financial Action Task Force, headquartered in Brussels, announced new guidelines for addressing anti-money laundering risks in crypto transactions. The guidelines emphasize international cooperation and the use of blockchain analytics to track illicit activities. https://lnkd.in/etYu5-vk.

News Alert ?? Mastercard and J.P. Morgan partner to enhance cross-border payments on the blockchain. ? Mastercard’s Multi-Token Network and JPMorgan’s Kinexys Digital Payments teamed up to improve B2B cross-border payments, offering faster settlement, greater transparency, and reduced time zone friction. ? By integrating MTN’s connectivity with Kinexys, mutual customers will be able to settle transactions through a single API, streamlining international business payments. ? The collaboration is part of JPMorgan’s broader push into real-world asset tokenization, with plans to introduce on-chain foreign exchange capabilities by early 2025, further automating multicurrency clearing and settlement. Read more ?? https://lnkd.in/dg5mvkFa

Here are 6 stories to read this week ?? ?? ?? El Salvador debuts tokenized U.S. Treasuries, Netherlands-based Quantoz launches MiCA-compliant stablecoins, and South Korea confirms a 20% crypto tax for 2025. Can the US keep up? ?? ???? El Salvador launches the first tokenized U.S. Treasuries offering, providing access to investment products for individuals and organizations previously unable to participate. https://lnkd.in/eMppYh3H ???? Netherlands-based fintech firm, Quantoz Blockchain Technology, rolls out MiCA-compliant Euro and U.S. Dollar stablecoins. https://lnkd.in/ex66Cs6D ???? U.S.- based crypto exchange Gemini launched operations in France after registering as a VASP, marking its latest European expansion as the EU's MiCA regulations reshape the landscape. ???? The UK plans to introduce a regulatory framework for crypto, stablecoins, and staking services by early 2025, ending months of uncertainty for the industry, announced Economic Secretary Tulip Siddiq. ???? South Korea is moving forward with 20% crypto tax in 2025, raising the exemption limit to balance revenue generation with investor concerns. https://lnkd.in/gD33AnG2 ???? OKX boosts ties with Singapore’s financial system by launching instant Singapore dollar transfers (SGD) for local customers through a partnership with DBS Group. https://lnkd.in/d4K8G6UE