ChainCatcher news, according to Ledger Insights, the German Parliament (Bundestag) passed the Financial Market Digitalization Act (Finanzmarktdigitalisierungsgesetz of FinmadiG) this week. The parliament responded to industry demands to ensure legislation is in place before MiCAR fully comes into effect on December 30.FinmadiG not only pertains to cryptocurrencies and MiCAR but also affects other EU laws, such as DORA and the Funds Transfer Regulation. For MiCAR, it introduces the Cryptocurrency Market Regulation Act (KMAG), which replaces Germany's old cryptocurrency rules with MiCAR.Technically, MiCAR is a regulation, so local laws are not required. However, legislation must designate BaFin as the regulatory authority; otherwise, BaFin cannot issue licenses. This will allow EU companies with cryptocurrency licenses from other countries to operate in Germany, but German companies will not be able to operate in the EU.Additionally, MiCAR allows companies holding existing licenses to continue operating for up to 18 months, with the transition period determined by each jurisdiction. The new German legislation specifies one year.

ChainCatcher news, the draft regulations for the supervision of stablecoin issuers have been submitted to the Hong Kong Legislative Council for review this week. Legislative Council member and chairman of the Web3 and Virtual Assets Development Subcommittee, Wu Jietzhuang, pointed out that stablecoins are part of the infrastructure of virtual assets. In addition to being used for investment, they can also facilitate cross-border payments, making them an important tool for citizens to participate in virtual assets. However, the current regulatory direction suggests that issuers should entrust their reserve assets to Hong Kong banks, which may not comply with the local regulations of individual coin merchants. Efforts will be made to communicate with the government and the industry to seek a compromise solution, such as establishing contracts or notes for mutual recognition between the two regions, while not requiring the assets to be held in Hong Kong.

ChainCatcher news, Ripple's Chief Legal Officer Stuart Alderoty posted on social platform X, calling on the U.S. Congress to establish a regulatory framework for cryptocurrencies that supports innovation. He emphasized that regulation should focus on behavior rather than the technology itself, and suggested adopting a framework familiar to regulators and judges, avoiding the incorporation of abstract policy principles from previous administrations into law without thorough research.SEC Commissioner Mark Uyeda recently also publicly criticized the SEC's tough enforcement stance, arguing that it is inappropriate to take enforcement action solely for being unregistered. The industry anticipates that the Trump administration may appoint cryptocurrency supporter Paul Atkins to a regulatory position, signaling a more friendly regulatory environment.

ChainCatcher message, Google announced on December 20 that it will implement new cryptocurrency advertising regulations starting January 15, 2025, as part of its financial products policy update. Advertisers for cryptocurrency exchanges and wallet services targeting the UK market must obtain registration certification from the Financial Conduct Authority (FCA) and be certified by Google before they can run ads.The new regulations clearly differentiate the advertising requirements for software and hardware wallets. Specifically, hardware wallet ads are limited to providing private key storage functions for assets such as cryptocurrencies and NFTs, and must not include trading services. Google stated that it will issue a warning at least 7 days in advance before suspending accounts to ensure compliance from advertisers.

ChainCatcher news, according to Morocco World News, the Governor of the Central Bank of Morocco (BAM), Abdellatif Jouahri, announced that the country is about to introduce a regulatory framework for crypto assets. This framework has been developed with technical support from the International Monetary Fund (IMF) and the World Bank, aiming to balance regulation and innovation.The new framework will align with the latest recommendations from the G20 and will focus on addressing financial risks associated with crypto assets. The bill is currently in the public consultation phase and will subsequently be submitted for government and parliamentary approval.According to a report by Chainanalysis, Morocco currently ranks 20th in the global cryptocurrency adoption index. Research by Insider Monkey in 2023 shows that Morocco ranks 13th among the countries with the highest Bitcoin usage.

ChainCatcher news, according to CoinDesk, the European Securities and Markets Authority (ESMA) released its final guidance on Tuesday to assist member states in implementing the upcoming regulations. ESMA published the final report on reverse solicitation, systems, the potential classification of cryptocurrencies as financial instruments, and technical standards for preventing market abuse.The EU's dedicated regulation for the cryptocurrency industry, the Markets in Crypto-Assets (MiCA) regulation, is set to come into effect on December 30 across 27 member states. However, some countries have yet to develop legislation to implement MiCA. The Bank of Portugal stated on Monday that, as the legislation has not yet been passed, it is currently unclear which national authority will be responsible for these rules. Industry associations noted that part of the delay in national authorities is due to the short time gap between ESMA's release of the final technical standards in October and the implementation date.ESMA Chair Verena Ross stated, "Looking ahead, as the transition period progresses, we will continue to provide guidance and work with all national competent authorities (NCAs) to ensure the smooth implementation of MiCA and support a level playing field through regulatory convergence actions."

ChainCatcher news, according to Cryptoslate, the UK's Financial Conduct Authority (FCA) launched a public consultation on cryptocurrency regulation on December 16, 2024. The new framework aims to balance innovation and risk control, focusing on issues such as market manipulation and financial fraud.The FCA proposed to authorize trading platforms to share information on suspicious market abuse and will restrict the operations of unregistered crypto businesses. The consultation period will last until March 14, 2025, with a draft regulatory framework expected to be released in 2025 and plans for full implementation in 2026, covering areas such as trading activities, stablecoin regulation, and asset custody.

ChainCatcher news, according to Morningstar, BIT Mining's chief economist Youwei Yang stated that a key factor for seeing the next progress of Ethereum is an increase in regulatory clarity, especially regarding the regulation surrounding staking classification.Ethereum staking refers to the process where holders lock up Ethereum to secure the Ethereum blockchain and earn rewards. The current Ethereum ETFs do not stake the held Ethereum, which is a concession by the issuers due to the associated regulatory uncertainty.

ChainCatcher news, the European Banking Authority (EBA) has released a report on tokenized deposits, stating that from a regulatory perspective, tokenized deposits are fundamentally the same as traditional deposits. The agency plans to analyze existing regulations to determine if they are adequate. It noted that, due to the limited activity in tokenized deposits so far, there is no urgency to take action. A survey conducted in March identified only two projects, but did not specify their names.Analysis suggests that one of the projects should be the Commercial Bank of Germany's Currency Token (CBMT), as it mentioned five banks and five enterprises; the other could be Euroclear's D-FMI, as it is purely used for securities settlement and referenced the UTXO used by R3's Corda enterprise blockchain. According to the EBA's survey, 17% of EU banks plan to engage in tokenized deposits in the next two years.The paper discusses the benefits of tokenized deposits, such as programmability, efficiency, and atomic settlement. It believes that most banks may adopt permissioned blockchains due to the need to identify customers, and the Basel Committee's crypto rules make it difficult for banks to use permissionless blockchains. However, the agency points out that blockchains face typical 51% attack risks and potential reliance on third parties, while programmability may introduce additional liquidity risks. Nonetheless, the report states that it is still too early to discuss the impact of tokenization on deposit stickiness.

ChainCatcher news, Sequoia Capital partner Roelof Botha posted on his social platform, "Seeing more and more regulators hurriedly imposing penalties and restrictions on businesses before the government is about to change. Their actions expose their illegitimacy. Widespread and erratic overregulation is stifling the U.S. economy."

ChainCatcher News, the new chairman of the U.S. House Financial Services Committee, French Hill, stated that he will focus on easing bank regulations, promoting capital formation to encourage more companies to go public, and addressing issues related to the structure of the cryptocurrency market.In an interview with CNBC, Hill also mentioned that he has not yet decided whether the U.S. should establish a Bitcoin reserve.

ChainCatcher news, according to Bitcoin.com, the Central Bank of Brazil has acknowledged that it will withdraw its proposal to ban self-regulated stablecoins in the country if certain conditions are met.In a public hearing, Renato Kiyotaka Uema, deputy head of the financial system regulatory department, stated that these terms are intended to make stablecoin transactions transparent, allowing only regulated exchanges to trade them. However, he emphasized that if there are technological solutions that can address this lack of transparency, the agency could cancel these proposed changes. "This is a public consultation, so if there are suggestions that can mitigate these risks, the technical department will strive not to interfere with the flexibility of the market."

ChainCatcher news, according to CNBC, Eric Trump, the second son of incoming President Donald Trump and current Executive Vice President of the Trump Organization, stated that a set of "reasonable" regulatory guidelines could help the United States become a cryptocurrency superpower.In an interview with CNBC's Dan Murphy in Abu Dhabi, Eric Trump mentioned that he has "long been a loyal fan of cryptocurrency," and that his father plans to "make America the global capital of cryptocurrency" upon returning to the White House.Additionally, Eric revealed that Tesla CEO Elon Musk will play a significant role in White House policy-making and praised Musk as a "modern Einstein."

ChainCatcher news, the State Administration for Market Regulation recently filed an investigation against NVIDIA Corporation for suspected violations of the Anti-Monopoly Law of the People's Republic of China and relevant provisions in Announcement No. 16 of 2020. This case involves potential restrictive practices following NVIDIA's acquisition of shares in Mellanox Technologies, and specific details have not yet been disclosed; the investigation is still ongoing.

ChainCatcher news, according to Bitcoin.com, Iran is changing its stance on digital currencies from imposing restrictions to focusing on regulation, according to Abdolnaser Hemmati, the Iranian Minister of Economic Affairs and Finance. At an event in Tehran, Hemmati emphasized the government's plan to mitigate the economic risks posed by digital currencies while leveraging their potential benefits. He highlighted the authority of the Central Bank of Iran in managing digital assets and stressed the potential of digital currencies in promoting youth employment, increasing economic assets, and offsetting sanctions.

ChainCatcher news, according to Jinshi reports, former New York Fed Chairman Bill Dudley stated that if the Trump administration truly wants to support the emerging cryptocurrency industry, it should establish a set of laws and regulations to allow it to develop and operate safely. For example, ensuring that stablecoins are fully backed by Federal Reserve deposits or short-term Treasury bills. Legislation should define whether tokens are currencies or securities, and who will regulate them. Rules should be established to protect consumers and prohibit their use in criminal activities such as financing terrorism or illegal drug sales.Cryptographic technology has the potential to improve the financial system— for example, making it easier and cheaper for people to trade financial assets, or enabling immigrants to send money back to their families more easily. However, without strong safeguards, fraud and abuse will persist, undermining the trust needed to establish these benefits.

ChainCatcher news, according to OKG Research analysis, the FIT 21 bill, stablecoin-related legislation, and the repeal of the SAB 121 proposal are the three most likely and crucial crypto regulations to be introduced in the future.If the FIT 21 bill is passed, it is expected to promote the launch of spot ETFs for cryptocurrencies like SOL and XRP, and inject new momentum into the DeFi sector, especially through exemption policies and RWA integration. At the same time, the SEC may allow Ethereum spot ETF staking, which will attract attention to staking projects within the DeFi ecosystem.The market share of stablecoins in cross-border payments and settlements will continue to grow, expected to surpass traditional financial institutions like Visa. The repeal of the SAB 121 proposal will simplify the compliance burden for crypto custodians, attracting more banks and institutional investors into the crypto space.

ChainCatcher message, crypto KOL Ansem posted on social media: "From a technical and fundamental analysis, Ethereum is currently in the best state of this cycle: ETH/BTC is stabilizing at the key support level of 0.03; the regulatory environment is improving, and we may see ETF staking products; the new generation of Layer 2 is about to launch, with Base and Virtuals performing strongly. Ethereum's price is expected to break through $5000."