UK Treasury unveils draft crypto-asset regulatory framework (Bitcoin.com)
“The UK Treasury (HMT) published a draft Statutory Instrument (SI) and a Policy Note detailing the UK’s upcoming financial services regulatory framework for crypto-assets, including stablecoins. Following proposals outlined in October 2023 and reaffirmed in November 2024, the draft SI establishes new regulated activities, such as operating crypto-asset trading platforms and issuing stablecoins, mandating authorization and oversight by the Financial Conduct Authority (FCA). The Policy Note clarifies the intended policy outcomes, with additional provisions for market abuse and admissions and disclosures regimes to follow. The UK Treasury welcomes technical feedback on the draft SI until May 23, 2025, to refine the regulations.” [Read more at HMT]
SEC punts decisions on XRP, DOGE ETFs (CoinTelegraph)
The U.S. Securities and Exchange Commission (SEC) has postponed deciding on whether to approve two proposed crypto-asset exchange-traded funds (ETFs) holding Dogecoin and XRP until June 2025. The postponements were responses to March requests from U.S. exchanges NYSE Arca and Cboe BZX Exchange to list Bitwise’s Dogecoin (DOGE) and Franklin Templeton’s XRP ETFs, respectively. [Read the DOGE response here and the XRP one here]
Digital commerce payment preferences by region (Fuse)
Fuse published a guide to digital commerce payment preferences by region, unpacking the key trends shaping payment behaviors in key regions around the world: APAC, Europe, Latin America, MEA, and North America. Globally, digital commerce’s share of total sales was 20.3% in 2024 and expected to surpass 21% in 2025. Digital wallets make up half of all digital commerce payments (by value) around the world. Credit and debit card usage, separate from their usage in digital wallets, account for 22% and 12%, respectively, but there is a lot of regional variance (see figure below). [Read more at Fuse]
And just a reminder that I produce a monthly digest of central bank digital currency (CBDC) developments exclusively for the official sector. So (only) if you work at a central bank, ministry of finance or international financial institution (e.g., the BIS, IMF, OECD, World Bank) and who would like to receive it by email on the first business day of every month, please DM me on LinkedIn or email me at john@kiffmeister.com.
