BB DAILY 12-17-2024: Tether invests in StablR to advance stablecoin adoption in Europe, Crypto.com CEO meets Trump on crypto policy, Senate committee blocks SEC re-confirmation, and Ohio introduces Bitcoin Reserve bill
Tether’s investment in StablR aims to boost compliance and liquidity in Europe’s stablecoin market, Crypto.com CEO Kris Marszalek pushes for regulatory influence with Trump, the Senate Banking Committee drops SEC Commissioner Crenshaw’s re-confirmation, and Ohio lawmaker Derrek Merrin files HB 703 to establish a state Bitcoin Reserve in response to dollar devaluation.
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December 17, 2024
News
SEC
Tether
Donald Trump
Tether invests in StablR to boost stablecoin adoption and compliance in Europe
Tether, the world’s largest digital asset company, has invested in European stablecoin provider StablR to accelerate stablecoin adoption across the region. The investment highlights Tether’s commitment to regulated, MiCAR-compliant stablecoins, particularly as the European market grows, driven by new EU regulations coming into effect on December 30th. StablR offers EURR and USDR stablecoins compatible with Ethereum and Solana, addressing rising institutional demand for compliant and liquid digital assets.
StablR will leverage Hadron by Tether, a tokenization platform simplifying asset digitization with integrated compliance tools. This collaboration underscores Tether’s focus on fostering accessibility, liquidity, and transparency in Europe’s expanding stablecoin market.
Crypto.com CEO meets with Trump at Mar-a-Lago as crypto industry pushes for influence in new administration
Kris Marszalek, CEO of Crypto.com, met with President-elect Donald Trump at Mar-a-Lago to discuss key appointments impacting the crypto industry ahead of Trump’s return to the White House. The conversation reportedly included roles in financial departments, Congress, and within the incoming administration, signaling efforts by the digital-asset sector to shape policy and regulations under the new leadership.
The meeting follows increased scrutiny on crypto firms, including a Wells Notice received by Crypto.com from the SEC in October, leading to the exchange’s lawsuit against the agency. This reflects the industry’s broader push for regulatory clarity and influence as Trump prepares for office.
Senate Banking Committee drops effort to re-confirm SEC Commissioner Caroline Crenshaw, opening path for Trump appointments
The Senate Banking Committee has abandoned its attempt to re-confirm SEC Commissioner Caroline Crenshaw after Republicans blocked her vote last week. While the committee claimed it “ran out of time,” sources indicate there weren’t enough votes to secure her re-confirmation.
Crenshaw’s exit, combined with the upcoming resignations of SEC Chair Gary Gensler and Commissioner Jaime Lizárraga in the new year, gives President-elect Donald Trump the opportunity to fill three seats on the commission. In the interim, Trump is expected to appoint either Commissioner Hester Peirce or Mark Uyeda as acting chair until Republican Paul Atkins is confirmed as the new SEC chair.
With only two commissioners in early 2025, the SEC can continue to operate and vote on matters, though any contentious actions could face legal challenges. The acting chair will hold significant influence in shaping the agency’s agenda during this transitional period.
Ohio lawmaker Derrek Merrin introduces HB 703 to create Ohio Bitcoin Reserve in state treasury
Today, Ohio Representative Derrek Merrin filed HB 703, a bill to establish the Ohio Bitcoin Reserve within the state treasury. The legislation grants the state treasurer the authority and flexibility to invest in Bitcoin, allowing the state to utilize the digital asset to strengthen its financial position.
Merrin emphasized that as the US dollar faces devaluation, Bitcoin offers a means to supplement Ohio’s financial portfolio and protect public funds from losing value. This move aims to position Ohio at the forefront of incorporating Bitcoin as a strategic asset within state finances.