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EToro hopes to offer staking to crypto customers soon: Andrew McCormick
Youtube· 2025-09-23 15:33
Group 1: Bitcoin Act Advocacy - The Bitcoin Act, introduced by Senator Cynthia Lumis and Representative Nick Begich, aims to codify a strategic Bitcoin reserve established by an executive order from President Trump [3][4] - The advocacy for the Bitcoin Act is seen as crucial for establishing a long-term legal framework for Bitcoin, contrasting with the temporary nature of executive orders [4][5] - The proposed legislation includes plans to purchase 1 million bitcoins over the next five years and hold them for at least 20 years, potentially impacting the federal deficit positively [10] Group 2: Legislative Developments - Recent legislative advancements include the passing of the Clarity Act in the House, with hopes for a Senate version to be passed by the end of the year [13][18] - The Genius Act, which regulates stablecoins, represents a significant step forward in crypto regulation in the U.S., encouraging companies to establish U.S. operations [15][17] - The SEC has approved changes to listing standards for crypto-focused exchange-traded products, which is expected to streamline the process for bringing new products to market [22][23] Group 3: Market Opportunities and Innovations - The industry is witnessing a growing demand for tokenized stocks, with a focus currently in Europe but anticipated to expand to the U.S. [26][27] - The number of crypto assets available on platforms has increased significantly, from three to 111, reflecting a robust growth in offerings [29] - Upcoming features such as staking are expected to enhance customer engagement and investment options [30]
EToro hopes to offer staking to crypto customers soon: Andrew McCormick
CNBC Television· 2025-09-23 15:33
Regulatory Landscape & Advocacy - The industry actively advocates for pro-crypto and pro-Bitcoin policies in Washington DC, emphasizing education for policymakers [2] - The Bitcoin Act, aiming to codify a strategic Bitcoin reserve into law, is a key focus of industry advocacy efforts [3][4] - The industry views the potential passage of crypto market structure legislation by the end of the year as a significant achievement, building on the Genius Act [13][14] - Regulatory clarity is considered "priceless" for firms, innovators, and consumers, reducing legal expenses and uncertainty regarding asset classification (security vs commodity) [20][21] Market & Product Development - The industry anticipates more crypto-related products coming to market due to recent SEC approval of changes to listing standards for crypto-focused exchange-traded products [22][23] - eToro has expanded its crypto asset offerings to 111 different assets, reflecting a commitment to providing customers with a wide range of choices [29] - eToro is planning to roll out staking features for its customers in the coming days and weeks [30] - Tokenized stocks are considered a future trend in the industry, with current focus primarily in Europe but potential for expansion to the US [26][27] Bitcoin & Economic Impact - The speaker believes Bitcoin is a better and fairer form of money that can solve many of the world's problems [7] - The speaker expresses concern about the $34 trillion federal debt and suggests that Bitcoin, through the Bitcoin Act's proposed purchase of 1 million bitcoins over five years, could potentially make a real dent in the federal deficit in the long term [9][10] - The speaker highlights Bitcoin's potential to address issues like inflation and income inequality, as it is a currency that people can control and contribute to [11]