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Best of the Week: It’s All Happening!

It was a big week for crypto following the inauguration of Donald Trump to a second term Monday. The White House issued an executive order on digital assets , calling for a friendly approach to crypto across the administration and the creation of a "digital asset stockpile" (which may, or may not be, a Bitcoin Strategic Reserve). Regulatory editors Nik De and Jesse Hamilton were all over the news, as usual. The SEC withdrew a controversial crypto accounting rule , started a crypto taskforce headed by Hester Peirce (aka “Crypto Mom”), and named crypto-friendly Commissioner Mark Uyeda as acting chair. Senator Cynthia Lummis, arguably crypto`s most loyal friend in Congress, was named to head the Senate Banking Committee`s new digital assets panel , Hamilton also reported. We dissected the fallout from the (very) controversial memecoins dropped by the Trump family on the eve of Monday’s swearing in. CoinDesk’s Shaurya Malwa reported that 60 Solana Whales made off with at least $10 million each (many others gained a lot less). Reporting from Tom Carreras on Monday showed that the paper wealth generated by these surprise tokens was, frankly, staggering, even absurd. Still the memecoins were a great success, encouraging filings for memecoin ETFs , Helene Braun reported. Helene also broke the story about how CME leaked information about XRP and SOL futures ETFs by mistake , which sank those tokens and weighed on the broader market . Ross Ulbricht, who created Silk Road about 12 years ago, educating thousands on bitcoin for the first time, went free after serving ten years in prison. His freedom was a key promise of the Trump team on crypto. Sam Reynolds had the news. And the news kept on coming. In fact, it was hard to remember a week when more stuff of importance happened in crypto. Amid it all, the Ethereum community hotly debated its future (particularly that of the Ethereum Foundation ). Parikshit Mishra and Sam Kessler followed the story. Stay tuned for more big stuff happening next week. U.Today

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Taiwanese Financial Regulator To Propose Law That Would Enable Banks To Issue Stablecoins: Report

The independent government agency regulating Taiwan’s financial markets will reportedly propose a special law that will allow banks to issue stablecoins. The United Daily News reports that Taiwan’s Financial Supervisory Commission (FSC) plans to submit the draft legislation on virtual asset service providers (VASPs) in June. The bill includes a provision that will give banks the authority to issue stablecoins—crypto assets designed to maintain a stable value by being pegged to a commodity or currency, or regulated by an algorithm. Bank director Zhuang Yuyuan says the stablecoins circulating in the market, including the dollar-pegged USDC and Tether ( USDT ), are not approved by the authorities. The situation is anticipated to change once the law takes effect as the FSC will have to greenlight all stablecoins issued in Taiwan, along with their issuer and reserve allocations. FSC Chairman Peng Jinlong says banks will jointly manage the stablecoins with the central bank. The FSC is also set to run a trial of crypto custody services with local banks in the first quarter of 2025. Last year, the regulator mandated all crypto-based companies to register by September or face harsh penalties. The agency now allows professional traders to invest in foreign crypto exchange-traded funds (ETFs). Don`t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X , Facebook and Telegram Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post Taiwanese Financial Regulator To Propose Law That Would Enable Banks To Issue Stablecoins: Report appeared first on The Daily Hodl . U.Today