Regulators in Ohio, a key data center market, ruled that data centers will have to pay for some of their energy requests regardless of whether the electricity ends up being needed https://t.co/5qS95UBCCQ ...

Partnership and Custody - Ripple partners with BNY Mellon as the primary custodian for its stablecoin [1] - The partnership with BNY Mellon aims to build trust in the crypto system by working with a well-regulated and capitalized partner [2][3] Stablecoin and Market Position - Ripple's stablecoin, RLUSD, has surpassed $500 million in market cap within six months of launch [5] - The stablecoin industry is currently valued at approximately $250 billion and is projected to grow to between $1 trillion and $2 trillion in the coming years [6] - Ripple entered the stablecoin market later than some competitors, initially using stablecoins in its payment flows for institutional customers [6][7] Regulatory Compliance and Licensing - Ripple has over 60 global licenses to participate in various markets [8] - Ripple has applied for an OC license and a Fed master account [8] - Ripple advocates for industry regulation and emphasizes its commitment to compliance [10][11] Strategy and Vision - Ripple aims to bridge the gap between traditional finance and decentralized finance by integrating the benefits of crypto into traditional systems [9] - Ripple focuses on facilitating faster and cheaper transactions [9]

There aren’t many other products that are as useful to criminals, and as much of a threat to the financial system, that have been allowed to flourish with so little regulation https://t.co/5BNJ7VA15A ...

🇵🇰 JUST IN: Pakistan has set up the Pakistan Virtual Assets Regulatory Authority to regulate and oversee its crypto sector.The goal is to protect consumers and attract global investment. https://t.co/norQ0CcraU ...

Regulatory Impact on Energy Development - Regulation, including environmental and species acts, and NEPA, significantly increases the cost of energy development on federal lands, discouraging capital investment [1] - Morgan Stanley studies indicate private leases can be four times more expensive, costing $32,000 per acre, compared to $8,000 on federal lands, reflecting the cost of regulation [1] - The Biden administration's regulatory policies effectively drove capital away from developing federal resources [1] Potential Benefits of Deregulation - Cutting regulation could lower the break-even point for oil and gas companies, allowing them to profit at lower prices per barrel [2] - Deregulation could potentially cut at least 10% of the price of a barrel on federal land, which is currently attributed to regulatory overhead costs [2]

Crypto Adoption in Sub-Saharan Africa - Sub-Saharan Africa accounts for 2.7% of global crypto transactions between July 2023 and June 2024 [1] - Nigeria ranks second globally in crypto adoption, following only India; Ethiopia, Kenya, and South Africa are also significant players [1] - Stablecoins account for almost half of the region's total transaction volume, driven by their utility as a workaround for currency shortages [2] Stablecoins Market Dynamics - Stablecoins have a market capitalization of approximately $250 billion [3] - Estimated $5 trillion in stablecoin transaction volumes were settled last year [3] - About 50% of blockchain activity is related to stablecoins, with similar percentage observed in Africa [3] - Yellow Card has processed approximately $6 billion in transaction volume in the last several years, with 99% in stablecoins [4][5] Regulatory Landscape - Several African nations are developing digital asset regulatory frameworks, with some already established [6] - Kenya, Zambia, and Rwanda published draft legislation in March [6] - Morocco, which banned crypto transactions since 2017, recently presented draft legislation to lawmakers and the central bank [6] - Kenya's Finance Committee invited Yellow Card to help draft digital asset legislation [8] Market Influences - 70% of African economies have faced crisis levels of U S dollar liquidity in the last year [10] - Approximately 80% of intra-Africa payments are cleared outside the continent in U S dollars [11] Central Bank Engagement - The Central Bank of Ghana is working closely with the ecosystem to gain insights on innovation within the digital asset space [13] - The Central Bank of Ghana collaborated with stakeholders for over a year to establish a balanced policy framework [14] - A crypto chamber in Ghana is focused on consolidating the fragmentation between the ecosystem and the central bank [20] Interoperability and Financial Inclusion - Interoperability is crucial, especially between francophone and anglophone countries [17] - Stablecoins are important for interoperability and integration with potential CBDC projects [18] - Digital assets promote financial inclusion, particularly for the unbanked population [18]

RT Brad Garlinghouse (@bgarlinghouse)True to our long-standing compliance roots, @Ripple is applying for a national bank charter from the OCC. If approved, we would have both state (via NYDFS) and federal oversight, a new (and unique!) benchmark for trust in the stablecoin market.Earlier in the week via @StandardCustody, we also applied for a Fed Master account -- while Congress is working towards clear rules and regulations, and banks (in a far cry from the years of Operation Chokepoint 2.0) are leaning in ...

We're speaking with the SEC chairman Paul Atkins and we're thrilled to have him at the table. I have a question because about insider trading, an issue that the SEC has always sort of oversaw, but there hasn't been a huge number of insider trading cases uh in recent years. I mean, not not big famous ones, but there's this whole crypto industry that is not really regulated.And I'm curious what you think of that, which is to say that there's lots of people doing things. And I the reason I mentioned this is th ...

Market Dynamics & Regulatory Landscape - Public markets have long been discussed for their benefits, but private markets also hold many companies, leading to the idea of public access to private markets [2] - The IPO market, once a primary way for companies to raise capital, has been overshadowed by robust private markets due to capital availability and impediments to being a public company [4][5] - The SEC aims to make IPOs more attractive by addressing red tape and impediments, with a focus on improving disclosure to make it more understandable and less driven by potential lawsuits [8][9] Investor Access & Protection - There's a debate on whether to make being a public company more attractive or to make private markets more accessible and transparent to the public [6] - The SEC will review rules regarding accredited investors, considering tweaking them due to investor demand for private products, while ensuring investors understand the risks involved [11] - Tokenization of assets, particularly private company shares like SpaceX, is seen as an innovation, but the SEC needs to provide clear regulations to foster innovation while ensuring investor protection [2][15][17] Innovation & Efficiency - The SEC aims to provide a firm regulatory foundation for innovation and new product development, moving away from regulation through enforcement [16][17] - Tokenization and other innovations can enhance trading and holding securities, potentially leading to quicker settlement times, building upon the move to T+1 settlement [18][19] - Digitization of securities and book entry, exemplified by the DTCC, was a significant advancement, and tokenization represents the next step towards greater market efficiency [20]

Regulatory Environment & Capital Management - The Federal Reserve's stress test indicates a less onerous, less volatile, and more transparent regulatory environment for banks [3] - The stress test freed up an estimated $100 billion in capital, potentially enabling $1 trillion in loans, deals, and buybacks [3] - The Fed is considering loosening the supplementary leverage ratio (SLR), further boosting investor optimism regarding capital freedom [5] - Analysts expect the proposed SLR change to be enacted after a comment period, potentially cutting in half the extra capital banks must hold against their entire balance sheet [7][8] Stress Test Results & Implications - The recent stress test was considered the easiest in years due to banks' improved fundamental starting point [4] - JP Morgan's research suggests low trading losses in the test may reflect favorable client positioning on the shock day, with Wells Fargo and Goldman Sachs benefiting the most [4] - The street views the low trading losses as a potential anomaly this year [5] - A process is in place to average stress test results over two years, potentially reducing volatility [10] Banking Industry Outlook - The S&P bank's industry group is surging to a fresh record, driven by indications of regulatory easing [2] - Banks are poised to return more capital to shareholders through dividend hikes and buybacks, to be announced after the close [3] - Banks perceive the need for SLR reform, as holding capital against risk-free assets like treasuries discourages intervention in treasury markets [9]