On the edge of our seat

Yesterday, "Crypto Czar" David Sacks held his first speech and some senators also made some statements following David Sacks. The speech was heavily hyped by the crypto world, as everyone was on the edge of their seat, waiting for the statement that the USA would implement a strategic Bitcoin reserve...

But none of that, all David Sacks said that this will be a "Golden Century" for crypto, and he repeated some of the campaign promises. The senators held their talk, but nothing new came out of their mouths.
And that is actually not surprising, as setting up an strategic Bitcoin reserve needs a lot of regulation and lawmaking before it actually can go through. But the crypto world obviously can not wait for that. So, the volatility stays in the market.

Regulation for Stablecoins

Behind the scenes, more important things are moving. The government is laying the regulation for Stablecoins, so USDT, USDC, etc... can act as a replacement for the CBDC's that were on the agenda by the prior government. This is actually great news for the crypto world, as it will make extra money flood into the market, and it completely erases the possibility of a Central Bank Digital Currency in the US.

A double win!

Have a great weekend,

Sincerely,

Pele23

Posted Using INLEO