Here are the key developments in digital currencies during this week (June 8–14, 2025):
$XRP
🏛 Regulatory and Political Perspective
David Sachs, Chief of Staff at the White House for Artificial Intelligence and Digital Currencies, described President Trump's policies as "very supportive" of the industry, pointing to major legislative developments: a bill on stablecoins is about to be voted on in the Senate, in addition to the progress of expanded legislation in the Congressional Finance Committee.
In Europe, major players like Gemini and Crypto.com are preparing to obtain operating licenses under the MiCA regulation in the European Union, amidst growing tensions between Malta and Luxembourg and concerns over exploiting weak oversight.
In the United Kingdom, the FCA is considering lifting the ban on trading digital ETNs for retail investors, which could enhance the growth of the digital asset market but may not propel the UK to a global leadership position.
🏦 Major Market Events
Circle (the issuer of USDC) had a successful IPO on June 12 under the symbol CRCL, opening at $31 and closing at $83.23, attracting $624 million with a market capitalization of $6.9 billion, in a key step towards the regulation of U.S. stablecoins.
According to Cointelegraph, forecasts suggest that clarity in U.S. regulation could push the price of Bitcoin to a level exceeding $150,000 during the current cycle, especially with the potential for U.S. interest rate cuts.
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