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

Cardano founder Charles Hoskinson had previously predicted that Bitcoin could reach $250,000 this year, citing favorable international negotiations as a catalyst for growth. However, recent market fluctuations have cast doubt on this forecast, as Bitcoin's price has significantly declined from its previous highs. Analysts are now warning that the bear market may just be beginning.

Analysts assert that the recent decline in Bitcoin's value should not be attributed to the US government shutdown or advancements in artificial intelligence. An onchain analyst noted that similar price drops in the past have often led to subsequent increases in Bitcoin's value, suggesting a potential for recovery.

The Basel Committee is facing increasing pressure to reconsider its stringent capital rules for cryptocurrencies, particularly in light of the rapid adoption of stablecoins. This shift comes as the US, UK, and EU diverge in their regulatory approaches, prompting a reevaluation of previously proposed capital requirements. The evolving landscape of digital assets is forcing global financial regulators to adapt to new market realities.

Coinbase is launching its decentralized exchange (DEX) trading platform in Brazil, allowing users to trade over 10,000 tokens directly within the Coinbase app. This rollout comes approximately six weeks after the platform's debut in the United States.

Coinbase is launching its decentralized exchange (DEX) trading platform in Brazil, approximately six weeks after its debut in the United States. This new offering will allow Brazilian users to trade over 10,000 tokens directly within the Coinbase app, enhancing their trading experience.

Libra-linked wallets have withdrawn approximately $4 million from a struggling memecoin and redirected a portion of these funds into Solana, according to on-chain tracking and news reports.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.