This week’s Blockchain Bulletin, presented by Callum Williams, covers a busy period for crypto regulation on both sides of the Atlantic.
Democrat senators have called for a hearing into Trump family-backed World Liberty Financial after the project received half a billion dollars from the UAE government. The deal was closed before President Trump’s inauguration, and months after the US approved a $1.4 billion arms deal to the UAE. Senators are now requesting government officials explain the payments under oath.
In the UK, the Bank of England has proposed capping stablecoin issuance at £40 billion, with reserve holdings of up to 70% and 30% in uncompensated deposits. Industry figures told Payment Expert the new rules represent an improvement on previous proposals, but concerns remain around the implications for sterling-backed stablecoins.
Binance has withdrawn its European licence application, though it intends to continue operating in the region. Head of Europe and UK Jillian Lynch said the company does not know why the application was refused, with the transitional deadline for full authorisation set for 1 July.
Europe’s digital euro cleared a significant hurdle after passing a vote in the European Parliament. The CBDC is set for a 12-month pilot with payment services and merchants, with a potential issuance date of 2029 if a rulebook is approved.
Finally, Anchorage Digital has launched a tokenised deposit service for US banks, enabling 24/7/365 blockchain settlement of commercial bank deposits alongside existing financial infrastructure.
Watch the full episode here.
