Crypto Council for Innovation

CCI Analysis 🇮🇳 Crypto adoption continues to soar in India despite government crackdown and high taxation. ◾ India leads the world in crypto adoption for the second consecutive year, with 20% of the population owning crypto. ◾ The country’s crypto activity is driven by an interest in Bitcoin and Ethereum, with many using crypto for long-term investment and portfolio diversification. ◾ While the government imposed strict regulations and high taxes on crypto, it has fostered blockchain use and launched its own CBDC, with some hoping for more regulatory clarity in the future. Read more 👇 https://lnkd.in/eX4x4jpz

CCI Analysis 🇧🇪 Belgium leads the EU in crypto innovation, driving MiCA implementation, blockchain payment pilots, and ESG standards. ◾ Belgium is a leader in crypto and blockchain regulation, playing a central role in shaping the European Union’s regulatory framework and innovation strategies. ◾ Major initiatives include MiCA implementation, cross-border blockchain payment pilots, and the creation of the EUROPEUM-EDIC consortium. ◾ Belgium drives sustainability and compliance in the crypto ecosystem, introducing ESG standards for blockchain and enhancing global AML efforts. Read more 👇 https://lnkd.in/e_VmvG4V

News Alert 🇬🇧 UK to draft crypto and stablecoin regulations early next year, aligning with the European Union's new framework. ◾ The regulatory framework will focus on crypto, stablecoins, and staking services, ending months of uncertainty for the industry. ◾ The new rules will follow the previous government’s measures to regulate crypto activities but will ensure that stablecoins and staking are treated separately from traditional payments and investments. ◾ This move comes as the EU’s MiCA regulations take effect, marking a significant shift in the region's approach to crypto regulation, with cross-border licensing for crypto providers set to benefit firms across the EU. Read more CoinDesk👇 https://lnkd.in/dPPzuHgr

🇧🇪 Belgium is at the Forefront of Crypto Policy Development in the EU and Internationally As the de facto capital of the European Union, Brussels, Belgium continues to shape the global conversation on crypto and blockchain regulations in 2024, reinforcing Europe’s position as a hub for digital innovation and financial stability. 🌐 ⚖️ Here are the key crypto and blockchain policy developments in Belgium this year: 1️⃣ Implementing the MiCA Regulation: Belgium has actively participated in the EU-wide adoption of MiCA, providing a comprehensive legal framework for crypto-assets. The regulation aims to enhance investor protection and market integrity across member states. Most provisions of MiCA will come into force in December 2024. https://lnkd.in/d4k_yZKV 2️⃣ Pilot on Blockchain-Based Cross-Border Payments: This year, the European Central Bank initiated a pilot program to explore integrating blockchain technology into real-time gross settlement systems. This initiative aims to enhance the efficiency and security of financial transactions within the eurozone. The pilot involves collaboration with various financial institutions and technology firms across Europe, including notable participation from Belgian blockchain companies. https://lnkd.in/e9_SSXMu 3️⃣ Creation of EUROPEUM-EDIC: Belgium is a founding member and hosting country of the newly established European Digital Infrastructure Consortium, created by the European Commission in May 2024. This legal entity, involving nine EU Member States, will expand the European Blockchain Services Infrastructure to deliver cross-border public services. It will promote innovation in blockchain and Web3 technologies while ensuring compliance with EU regulations, such as the European Digital Identity framework. https://lnkd.in/epwqfbXQ 4️⃣ Regulatory Framework for Crypto Service Providers: Belgium implemented regulations requiring crypto service providers to register with the Financial Services and Markets Authority. This measure ensures compliance with anti-money laundering and counter-terrorist financing protocols, aligning with international best practices to prevent misuse of crypto. https://lnkd.in/eVSiYJBM 5️⃣ International Collaboration on AML Compliance: The Financial Action Task Force, headquartered in Brussels, announced new guidelines for addressing anti-money laundering risks in crypto transactions. The guidelines emphasize international cooperation and the use of blockchain analytics to track illicit activities. https://lnkd.in/etYu5-vk.

News Alert 🌐 Mastercard and J.P. Morgan partner to enhance cross-border payments on the blockchain. ◾ Mastercard’s Multi-Token Network and JPMorgan’s Kinexys Digital Payments teamed up to improve B2B cross-border payments, offering faster settlement, greater transparency, and reduced time zone friction. ◾ By integrating MTN’s connectivity with Kinexys, mutual customers will be able to settle transactions through a single API, streamlining international business payments. ◾ The collaboration is part of JPMorgan’s broader push into real-world asset tokenization, with plans to introduce on-chain foreign exchange capabilities by early 2025, further automating multicurrency clearing and settlement. Read more 👇 https://lnkd.in/dg5mvkFa

Here are 6 stories to read this week 🌎 🌍 🌏 El Salvador debuts tokenized U.S. Treasuries, Netherlands-based Quantoz launches MiCA-compliant stablecoins, and South Korea confirms a 20% crypto tax for 2025. Can the US keep up? 💡 🇸🇻 El Salvador launches the first tokenized U.S. Treasuries offering, providing access to investment products for individuals and organizations previously unable to participate. https://lnkd.in/eMppYh3H 🇳🇱 Netherlands-based fintech firm, Quantoz Blockchain Technology, rolls out MiCA-compliant Euro and U.S. Dollar stablecoins. https://lnkd.in/ex66Cs6D 🇫🇷 U.S.- based crypto exchange Gemini launched operations in France after registering as a VASP, marking its latest European expansion as the EU's MiCA regulations reshape the landscape. 🇬🇧 The UK plans to introduce a regulatory framework for crypto, stablecoins, and staking services by early 2025, ending months of uncertainty for the industry, announced Economic Secretary Tulip Siddiq. 🇰🇷 South Korea is moving forward with 20% crypto tax in 2025, raising the exemption limit to balance revenue generation with investor concerns. https://lnkd.in/gD33AnG2 🇸🇬 OKX boosts ties with Singapore’s financial system by launching instant Singapore dollar transfers (SGD) for local customers through a partnership with DBS Group. https://lnkd.in/d4K8G6UE

🇪🇺 Today we gathered MEPs, EU policymakers, and the crypto industry to share perspectives for the future. Here’s what they think: • Politicians and regulators need to dare to innovate. If the EU is going to be competitive, then we need to let tech flourish. • Interoperability will be even more important as the industry progresses. If we can’t read and write data across different blockchains then we’re siloed and can’t innovate. • One of the biggest potentials of blockchain is as a trust layer and this is crucial for shaping the future of finance. • The conversation we’re not having but should is around energy. Expect more of this in the year ahead. • From 2025 the USA is finally going to catch up. The EU is waking up and making its own moves. Crypto’s future has never looked brighter. 🌟

🌟 Tomorrow! CCI welcomes government leaders and industry changemakers to our Brussels Forum and Chatham House workshops. The European Union 🇪🇺 stands at the crossroads of a new digital decade, so let's make sure we take the right path. Sheila Warren Mark Foster Ji Hun K. Giles Swan Laura Navaratnam Amanda Russo Illia Polosukhin Mathieu MICHEL Jean-Paul Servais Stefan Berger Ondřej Kovařík Stephen Nikola Bartulica Dr Lisa Cameron Dr. Clara Guerra Christos Efthymiopoulos (CAMS) Christopher Donovan Coinbase Andreessen Horowitz Fidelity Digital Assets OpenSea Block dYdX Filecoin Foundation Paradigm Solana Foundation Circle Electric Capital NEAR Foundation Ribbit Capital

News Alert 🌐 El Salvador launches first tokenized U.S. Treasuries offering, providing access to investment products for individuals and organizations previously unable to participate. ◾ NexBridge Digital Financial Solutions and Bitfinex Securities partnered to offer El Salvador’s first regulated tokenized U.S. Treasury Bills. ◾ The offering aims to raise at least $30 million in deposits, with initial subscriptions open until November 29, allowing investments through Tether's USDT and plans to include Bitcoin in the future. ◾ Backed by BlackRock’s short-term Treasury bond ETF, the tokenized T-Bills will trade on Bitfinex Securities’ secondary market under the ticker USTBL, enabling faster settlements and increased efficiency in digital asset-based financial markets. Read more CoinDesk👇 https://lnkd.in/eMppYh3H

🌐 We’re honored to have Dr. Clara Guerra, Director of the Office for Financial Market Innovation for the Government of the Principality of Liechtenstein, as a panelist at the Shaping the Digital Future Forum 2024! Dr. Guerra is a trailblazer in financial market innovation and digital asset policy, offering a wealth of knowledge from her leadership role in one of the world’s most forward-thinking jurisdictions. Her insights will contribute significantly to discussions on the intersection of innovation and regulation in the digital economy. 📅 Date: Thursday, November 21 📍 Location: Sofitel, Brussels 🌟 This exclusive event will feature critical conversations with policymakers and leaders driving the future of the digital landscape.