US and UK revolt forces Basel to rethink brutal crypto capital rules for banks

Libra-linked wallets have withdrawn approximately $4 million from a struggling memecoin and redirected a portion of these funds into Solana, according to on-chain tracking and news reports. This move comes amid ongoing fraud investigations and scrutiny surrounding the token's launch, which had previously seen significant withdrawals that affected investor confidence. The wallets involved purchased around $61.5 million worth of SOL at an average price of approximately $135.

Pi Network has announced its full compliance with the European Union's Markets in Crypto-Assets (MiCA) regulation. This compliance could facilitate the trading of its PI token on regulated exchanges within the EU and the European Economic Area, marking a significant step for the cryptocurrency platform.

Crypto entrepreneur Mike Alfred stated that the US is likely to delay purchasing Bitcoin until other countries take action. He emphasized that the government will only intervene when there is sufficient external pressure, reflecting a cautious approach to cryptocurrency reserves.

The European Central Bank (ECB) is expressing concerns that US dollar stablecoins may undermine its policy influence. In response, European issuers are proposing solutions to address these challenges, indicating a proactive approach to maintaining financial stability within the Eurozone.

Kraken has confidentially filed for an initial public offering (IPO) in the United States, a move that may indicate growing mainstream acceptance and regulatory scrutiny of the cryptocurrency sector in the country.

HSBC is set to introduce tokenized deposits in the US and UAE next year, marking a significant move in the competitive landscape of stablecoins. This initiative reflects the bank's commitment to innovate within the cryptocurrency sector.

US Bitcoin ETFs are experiencing significant outflows nearing $3 billion in November, with BlackRock leading the trend with record outflows of $523 million. This decline is attributed to a fresh death cross in market indicators, diminishing expectations for Federal Reserve rate cuts, and a general negative sentiment among investors.

The Digital Chamber has initiated a new program called the State Network aimed at educating state lawmakers about cryptocurrency policies in the United States. This initiative is strategically timed to influence legislative decisions and political campaigns leading up to the 2026 elections. The Digital Chamber seeks to promote a favorable regulatory environment for crypto assets at both state and local levels, highlighting the importance of informed policymaking in the evolving landscape of digital currencies.