The past week has witnessed many notable events in the cryptocurrency and fintech sectors, from national policies to technological advancements. Below are the highlights:
1. Donald Trump Bans CBDC in the U.S.
Former President Donald Trump signed the first executive order of his term, officially banning the issuance and use of central bank digital currency (CBDC) in the United States. Trump emphasized that #CBDC is a "dangerous threat to freedom" and committed to supporting stablecoins as an alternative.
This move has sparked a wave of debate globally, especially in Europe. The European Central Bank (ECB) announced a faster rollout of the digital euro to reduce dependence on stablecoins and protect the regional financial system.
2. Donald Trump's Meme Coin Sparks Controversy
The release of a meme coin by Donald Trump has stirred excitement in the cryptocurrency community and among legal experts. This is the first time a sitting U.S. president has created a digital asset.
Although there is no specific law prohibiting this, experts warn about the ethical risks when politicians release cryptocurrency products. Some opinions suggest that this meme coin could set a precedent for future financial behaviors lacking transparency.
3. NFT Market: The Comeback with Soaring Values
The NFT market is showing strong signs of recovery after a long period of stagnation. Famous collections like Bored Ape Yacht Club and Azuki have reported a trading volume increase of over 30% compared to the previous week.
In addition, projects related to NFT games and #Metaverse are also receiving renewed attention. This is a positive signal for the industry after a prolonged downturn.
4. New Technology Wave from Asia
China is intensifying the testing of the digital yuan (e-CNY) in cross-border transactions. This is part of the country's strategy to expand its global financial influence.
At the same time, South Korea announced plans to finalize the legal framework for cryptocurrency by mid-2025, paving the way for major businesses to enter this field.
5. Increased Cryptocurrency Scam Warnings
Authorities in many countries continue to uncover fraudulent projects related to cryptocurrency. In the past week, a group of illegal projects was dismantled at #Singapore , defrauding millions of USD from investors.
Experts advise users to carefully check project information and be cautious of promises of high profits.
Conclusion
The week of January 20-26, 2025, is an active week with many significant developments in the cryptocurrency sector. From national policies to market trends, all indicate the great potential but also the risks of this industry.
Note: Investing in cryptocurrency always carries high risks. Please research carefully before making a decision!