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Coinbase & Gemini Secure EU MiCA Licenses Amid Malta–Lux Clash
Two of the crypto industry’s biggest names—Coinbase and Gemini—are finalizing regulatory approvals under Europe’s new MiCA framework, but their divergent paths have sparked debate across the continent. With Malta’s fast-tracking and Luxembourg’s slower, high-standard approach, the European crypto regulatory landscape is entering a pivotal phase.
Coinbase and Gemini: Two Roads to MiCA Approval
▪️ Coinbase is seeking its EU MiCA license via Luxembourg, a globally respected financial center.
▪️ Gemini, meanwhile, is nearing imminent approval from Malta, which has already licensed OKX and Crypto.com within weeks.
▪️ This divergence is testing European Union regulatory consistency, as MiCA allows member states to issue single-market licenses to crypto firms.
Malta’s Fast-Track Raises Eyebrows
Malta’s rapid approval process is under scrutiny by regulators from other EU countries. Critics argue that a “license shopping” effect could emerge, where firms seek out the most lenient jurisdictions.
▪️ France’s AMF warned of a “regulatory race to the bottom,” pointing to Malta’s small regulatory staff.
▪️ Malta’s MFSA defended its speed, saying: “Expedited processing was due to our in-depth understanding acquired over these years.”
Luxembourg’s Deliberate Approach
Coinbase has taken a more measured route via Luxembourg, with its MiCA application underway for months.
▪️ A Coinbase representative emphasized Luxembourg’s global financial credibility, calling it “a high-bar, well respected financial centre.”
▪️ The firm plans to hire over 20 new staff in Luxembourg by year-end, expanding its existing 200-person European team.
MiCA Faces Its First Real Test
As the first major MiCA licenses are issued, the EU’s ability to maintain regulatory uniformity is being put to the test.
▪️ Central Bank Governor Gabriel Makhlouf previously compared crypto to a Ponzi scheme, warning: “Most of the time when you gamble, you’re actually losing.”
▪️ ESMA is now examining Malta’s process closely, with a report to be shared among member states in the coming weeks.
What’s at Stake
With the Gemini MiCA approval and Coinbase EU MiCA license serving as precedent, these cases could define:
- Whether MiCA’s promise of harmonization will hold
- How jurisdictional competition might impact investor protections
- The degree of regulatory trust within the EU’s internal crypto market
As regulatory friction builds, Europe’s new crypto era is taking shape—and the outcomes of these licenses may define the rules of engagement for years to come.
@ Newshounds News™
Source: Watcher Guru
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Vietnam Passes Landmark Law Defining Digital Assets, Boosting AI and Chip Sectors
Vietnam has taken a major step forward in regulating crypto and accelerating digital innovation. A new law passed by the National Assembly legalizes digital assets and lays the foundation for massive state-backed investment in semiconductors, AI, and digital infrastructure. The move positions Vietnam as one of the first nations with a comprehensive legal framework for digital assets.
Clear Rules for Crypto—And Major Incentives for Tech
▪️ The Law on Digital Technology Industry, passed with 441 out of 445 votes, takes effect January 1, 2026.
▪️ It formally classifies digital assets into three categories: virtual assets, crypto assets, and other digital assets—each with defined property rights under civil law.
▪️ The law ends the regulatory gray zone that pushed Vietnamese crypto startups to relocate abroad.
What the Law Covers
▪️ Virtual assets: Used for exchange or investment, not recognized as currency.
▪️ Crypto assets: Authenticated and transferred via encryption and blockchain.
▪️ Other digital assets: Encompassing non-financial digital goods.
▪️ Securities, fiat tokens, and other financial instruments are excluded from these definitions.
A Homecoming for Crypto Innovation
Vietnam’s crypto ecosystem had seen explosive growth despite unclear laws.
▪️ The country ranked 5th globally in crypto adoption in 2024, per Chainalysis.
▪️ Over $105 billion in blockchain investments entered Vietnam during 2023–24—mostly routed through offshore entities.
▪️ Prime Minister Pham Minh Chinh had previously ordered crypto regulation development to support his 8% GDP growth target.
The new law is designed to bring crypto firms back home by offering both legal certainty and economic incentives.
Vietnam Bets Big on AI, Chips, and Data Centers
Beyond crypto, the legislation signals a bold national tech agenda:
▪️ Aims to grow to 150,000 digital technology enterprises by 2035.
▪️ Offers corporate tax rates as low as 10% for 15 years for qualifying tech firms.
▪️ Waives import duties and land rental fees for digital infrastructure, AI, and semiconductor ventures.
▪️ Projects investing $80M+ in data centers or $160M+ in chip fabs qualify for “special” status—triggering perks like five-year personal tax exemptions for foreign experts.
Vietnam explicitly states its goal to become “an essential link in the global semiconductor supply chain.”
This landmark legislation is more than crypto regulation—it’s a full-scale blueprint for transforming Vietnam into a leading digital economy in Asia.
@ Newshounds News™
Source: Decrypt
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BRICS Just Launched a New Energy Alliance Backed by Petro-Yuan Deals
The BRICS energy alliance has officially launched a coordinated system of petro-yuan oil contracts, directly challenging the U.S. dollar’s dominance in global energy markets. With an expanded bloc now controlling 46 million barrels per day of oil production, BRICS is rapidly implementing currency shift mechanisms—including yuan-denominated contracts, rupee-ruble swaps, and local currency financing—marking the most significant threat to U.S. financial hegemony since Bretton Woods.
How BRICS Plus Is Reshaping Global Energy Markets and Challenging Dollar Hegemony
Energy Production Powerhouse Emerges
▪️ The expanded BRICS energy alliance includes Saudi Arabia, Russia, Iran, UAE, and Brazil, jointly producing nearly a quarter of global oil—totaling 46 million barrels per day.
▪️ Gas reserves are even more concentrated, with Russia, Iran, Qatar, Algeria, and UAE now holding two-thirds of global reserves.
▪️ Petro-yuan transactions are rising sharply. In one year, 60% of yuan-denominated crude oil trades took place on the Shanghai Stock Exchange, bypassing the U.S. dollar entirely.
▪️ Strategic energy infrastructure projects like the Power of Siberia 2 pipeline—linking China, Kazakhstan, and Russia—are set to be operational by late 2025, further boosting BRICS’ influence.
Payment Revolution Underway
▪️ Energy payments are shifting away from SWIFT and dollar dominance:
- Russia and India now settle in rupee-ruble swaps.
- China and Saudi Arabia process billions through yuan-riyal channels.
- The Riyadh Royal Court has reportedly reviewed the dollar-denominated oil contract system.
▪️ By early 2025, yuan-based oil trades represented 24% of daily Brent crude volume—a significant erosion of dollar exclusivity.
▪️ These developments form a parallel financial infrastructure, operating independently of Western-controlled systems.
Development Bank Financing Shift
▪️ The New Development Bank (NDB), a BRICS financial arm, is aiming for 30% of all lending in local currencies by 2026, up from 22% today.
▪️ The bank maintains a $5 billion annual lending target while reducing its dependence on the U.S. dollar.
▪️ Major projects now financed in local currencies include:
- Nairobi-SGR railway renovation (Kenya)
- Johor Baru port expansion (Malaysia)
▪️ Petro-yuan oil contracts are thus not confined to commodities—they underpin broad development financing as well.
Challenges and Future Implications
▪️ The BRICS bloc still grapples with internal tensions, such as the India-China border dispute and Iran-Saudi regional rivalry.
▪️ A unified BRICS currency remains elusive, requiring full consensus, and members have divergent views on implementation.
▪️ The U.S. dollar still dominates, accounting for 59% of global reserves compared to just 2.48% for the yuan. But that gap is being challenged in practical terms.
▪️ Analysts describe this moment as the “first defeat of the invincible army”—not a full collapse of dollar dominance, but a fundamental shift to multi-currency energy systems.
A New Global Financial Map in the Making
BRICS’ energy initiatives effectively transform the dollar from a compulsory tool to an optional one. While the U.S. retains unmatched military spending—$750 billion annually—its monetary control in global trade is no longer absolute.
Through the petro-yuan contracts, local-currency development loans, and alternative payment systems, the BRICS energy alliance offers a functional route for Global South nations to escape Western financial dependency.
This marks the most substantial de-dollarization movement in decades, with real-world energy trade flows and infrastructure spending steadily redesigning the global economic landscape—outside traditional, Western-led frameworks.
@ Newshounds News™
Source: Watcher.Guru
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