[Comparative Daily News Picks] US Treasury Secretary Bezent: The size of stablecoins may grow to $300 billion by 2030; Canary XRP ETF has completed listing certification on the NASDAQ and will start trading when the market opens; Federal Reserve Speaker: Most local Federal Reserve Board members of the Federal Reserve are not active in cutting interest rates in December; SEC plans to introduce a “token taxonomy”: using the Howey test as an anchor to explore the path of non-securitization of crypto assets

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[US Treasury Secretary Bezent: The size of stablecoins may grow to $300 billion by 2030]

Comparing news, US Treasury Secretary Bessent said that by 2030, the size of stablecoins may grow from 300 billion US dollars to 300 billion US dollars, an increase of 10 times. (Zhitong Finance)

[Canary XRP ETF has completed listing certification on NASDAQ and will start trading when the market opens]

Comparative news, according to crypto journalist Eleanor Terrett, as of 5:30 p.m. EST, the Canary XRP ETF officially took effect after completing the listing certification on NASDAQ, and XRPC has been approved to start trading when the market opens tomorrow.

【Federal Reserve[Microphone: Most local Federal Reserve voting committees of the Federal Reserve are not active in cutting interest rates in December]

Comparing news, Federal Reserve officials have recently spoken out intensively to discuss monetary policy. “Federal Reserve microphone” Nick Timiraos said that there are currently four local Federal Reserve presidents with voting rights (Boston Federal Reserve Collins, St. Louis Fed Mussalem, Chicago Fed Goulsby, and Kansas Federal Reserve Schmid, who voted against the October interest rate cut resolution) did not actively push for another rate cut in December.

Note: The Federal Reserve rotates four local federal banks as FOMC voting committees every year. Starting next year, the above four officials will lose their right to vote in the FOMC. The New York Federal Reserve is in a special position and has permanent voting rights.

【SEC[Proposed “Token Taxonomy”: Using the Howey Test as an anchor to explore the path of non-securitization of crypto assets]

Comparatively, according to The Block, SEC Chairman Paul Atkins proposed the establishment of a “token taxonomy” to use Howey Test as the core to classify what kind of crypto assets are securities.

He said that crypto assets can be removed from investment contract attributes as the network matures and controls are decentralized. The SEC has launched “Project Crypto” to allow tokens associated with investment contracts to be traded on CFTC or state regulatory platforms and consider exemption packages for crypto assets. Atkins reiterated that fraud will be strictly enforced, and confirmed that “tokenized securities” such as stocks are still securities. In terms of legislation, the House of Representatives has passed an industry regulation bill, and two versions of the Senate are in progress; the SEC's work is aimed at complementing congressional legislation.

[The EU plans to tighten MiCA regulations or prohibit sharing order books with non-EU exchanges]

Comparatively, the European Securities and Markets Authority (ESMA) is preparing to strengthen and centrally manage the EU's crypto asset market supervision and further unify the implementation of MiCA (Crypto Asset Market Regulation). Multinational regulators such as the French Financial Supervisory Authority (AMF) have called for a clear provision in the MiCA framework that transactions and execution activities (including local order books) must be located within the European Union and subject to local supervision. ESMA's move may mean prohibiting EU crypto platforms from sharing order books with non-EU and non-MiCA regulated exchanges to ensure regulatory consistency.

[Dubai court freezes andSun Yuchen[Rescue of $456 million in funding related to TrueUSD issuer Techteryx]

Comparing news, the Dubai court froze US$456 million in funds relating to Sun Yuchen's bailout of TrueUSD issuer Techteryx because its reserves were allegedly transferred to the Dubai company Aria Commodities in violation of regulations. The court found “signs of trust default.”

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