The emergence of a new crypto-paradigm? – While regulatory pressure is increasingly pronounced on the side of USA and of theEuropeI’Asia, meanwhile, advances. It even progresses with an assured step towards a greater democratization cryptocurrencies and tokenization of assets. Enough to catch cold shy and reluctant Western politicians who seek by all means to slow down the development of a sector that escapes them.
Crypto transition: the USA is putting the brakes on…
With the SEC, there is a new sheriff in Crypto-City
According to its decisions of the last few months, the intentions of the DRY (Securities Exchange Commission) appear to us with more and more clarity. The regulator, as the new self-proclaimed sheriff, is working on a spring cleaning spring on that pesky sector of cryptocurrencieseven leave to exceed its jurisdiction. Attempts denounced by the Digital Chamber of Commerce which, according to it, would ultimately endanger the health and viability of the American market for digital assets.
It must be said that the SEC hangs more and more trophies on its list of hunts. After having pinned the Kraken exchangeit is now the BUSDresulting from a partnership between Paxos And Binance, who is currently under his wrath. With rivalries helping, the token is gradually being delisted from exchange platforms, as Coinbase mentioned. in his latest press release.
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Regulatory threat, when the press gets involved
Just to add a little oil to the fire, Forbes recently published a new incriminating report against Binance. This would imply that holders of the version of the USDC transposed on the BNB Chain (Binance-peg USDC) would have found themselves at some point without guarantee. A subject as taboo as it has been dreaded since the crisis of confidence linked to the FTX affair. The media highlights suspicious movements of funds of approximately $1.8 billion.
Changpeng “CZ” Zhao, the boss of Binance, defended himself on Twitter. For him, it is the simple bad faith of journalists who don’t have a clue how a crypto exchange works. For CZ, this article is neither more nor less than yet another attempt by the United States to discredit its exchange which, let us remember, is the largest in the world… and by far. An ultra-domination that the United States could rightly see with a dim view.
For the SEC, all cryptocurrenciesexcept possibly Bitcoin, are nothing more just simple actions (securities). A simplistic vision of these new digital UFOs, but very practical for the regulator who would thus assume the right to poke his nose absolutely everywhere.
A stance against cryptos which is also shared by the IMF (International Monetary Fund). The latter obviously wishes to highlight the MNBC (central bank digital currencies) over which governments will have full control. Even the stablecoins are allowed in their lap. But the other cryptocurrencies would definitely not rest “over nothing”.
… while Europe and Asia accelerate
Tokenization: the start of a whole new finance
Far from worrying about the regulatory turpitudes of the USA, on the other side of the world, things are progressing. Technology continues to develop, despite the turbulence, driven in particular by an innovative concept: the tokenization of assets. Because, beyond the artistic aspect of our pretty NFTvirtually all the components of our economy could one day be tokenized: real estate, agri-food, stocks, bonds, etc. trillions of dollars are at stake. Figures that are enough to make you dizzy.
A true tokenization of finance is in the process of being initiated, according to analysts at BlackRock. A tokenization of which we can barely see the beginnings today. The tokenization of corporate securities is typically a new and innovative way to launch its activity for startups. A method of financing that suddenly becomes accessible to everyone, very easily.
New initiatives are appearing, stemming fromwedding rings between professionals traditional finance and specialists in crypto sector. THE partnership between Cité Gestion and Taurus is a good example. The Swiss banking juggernaut has purely and simply decided to initiate the tokenization of the shares of its capital. An unprecedented initiative in the banking sector and which will probably not be the last.
Asia and Europe open their doors to crypto potentials
Several Asian countries have understood these unprecedented opportunities offered by the emergence of this new technology. There Thailandtypically, would be about to give the green light to investors so that they can tokenize any type of asset.
hong kongfor its part, recently issued the$100 million equivalent of green bonds on the blockchain. Tokenized bonds responsible for boosting initiatives related to sustainable development. Here we are witnessing a real digitization of the capital market at the heart of the blockchain ecosystem.
In Europe, Germany is leading the way. If the word “Bitcoin” is still persona non grata in the banking sector, the incursion of blockchain technology is increasingly strong. There Deutsche Bank thus launched a first financial asset tokenization initiative. Against all expectations, these banks are already appropriating the techniques of Challenge (decentralized finance) on Ethereum and the recent technology of Soulbound Tokens (SBT).
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Crypto: the revolution of tomorrow is being prepared today
Ethereum is booming on the eve of Shanghai
The world therefore seems to be slowly waking up to discovering the very real potential of crypto and the opening it offers to a whole new way of imagining finance. Revolutions of which Ethereum is very often the spearhead: DeFi, NFT, dApps, … The enthusiasm for the blockchain imagined by Vitalik Buterin continues unabated, year after year.
Proof of this is the staking protocol Lido, whose strong attractiveness never seems to want to slow down. The protocol recently registered its largest influx of ETH deposited in staking since its creation : 150,000 ETH in one day. A record.
A constantly renewed confidence in the Ethereum blockchain which is moving rapidly towards its shanghai updatemore than 6 months after the success of The Merge. While the final step, the Goerli tesnet, took place on February 28, this new evolution of the network is inexorably approaching. Scheduled in March, no date has yet been announced.
Shanghai will notably allow investors to unlock their precious ETH staked on the network at will. A small revolution that could attract a number of investors, eager to take advantage in complete safety of a yield of approx. 5% on their capital.
Ethereum and Bitcoin: the eternal duality between two technological UFOs
Tempting prospects that have enough to titillate speculators of all stripes. In effect, according to Bernstein analysts, the planets have never been more perfectly aligned for a dominance of the second cryptocurrency in the market vis-à-vis the supreme leader, Bitcoin. Between passage in Proof of Stake (PoS)supply reduction and Shanghai update, it must be said that Ethereum, became “green blockchain” by the way, accumulate trumps.
This digital gold called Bitcoin, meanwhile, continues the momentum of democratization that is spreading faster and faster. Its incensurability is emulated within of populations abused by monetary excesses of their governments. And the use cases, carried by the Lightning Networkthe second layer network of Bitcoin, are multiplying.
Whether you are Bitcoin maxi or an Ethereum afficiano, one thing is certain: democratization is advancing rapidly. Of recent studies conducted in February 2023 by the office Morning Consultfor request of Coinbase, demonstrate an ever-increasing enthusiasm for these digital currencies. The public surveyed, tired of an increasingly unequal traditional system, would show a growing interest in the crypto sector. This trend is all the stronger among the younger generations. The very ones who will be at the helm of the world of tomorrow.
Crypto revolution: two visions of the world clash
While the USA primarily seek to protect the hegemony of their dollar darling, their excesses are gradually catching up with them. A crumbling confidence and a dollar that is gradually losing its luster. More and more countries are looking for alternative currencies, ways to get out ofamerican monetary oppression. This, Africa, first concerned by these economic excesses, understood this for a long time. And Asia also seems to be picking up the pace, also attracted, it must be said, by the potential gains inherent in a completely new kind of finance.
It is not at all certain that a overregulation, the path that the US government seems to be taking, through its armed wing, the SEC, is the solution to hinder a crypto sector so open to the world. This road may well be a dead end that would simply lead America to a inexorable lag behind the competition, and not a stranglehold on this technology as impalpable as the lines of code that compose it. A technology whose value proposition will only strengthen over time and monetary excesses.
Even if there is still a long way to go before technology takes hold, there is no doubt that innovations that she carries within her, like the tokenizationwill be vectors of a growing adoption worldwide. Starting with the Asian continent indeed. A trend Vitalik may have sensed when naming his next protocol update: Shanghai. A name very appropriate today, it is true, in view of current events. No wonder, because this little blockchain genius has always had a hollow nose… even if the latter, eternally dissatisfied, recalls that many developments are still to come. And it is perhaps fortunate that the best part of this beautiful crypto history remains to be built.
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