The White House published its first-ever framework on cryptocurrency regulations late last week, covering the key areas of the cryptocurrency space that the Biden administration wants to focus on. The move follows President Joe Biden’s executive order on “Ensuring Responsible Development of Digital Assets.”

The European Central Bank (ECB) has announced the selection of five new partners to support the development of a digital euro prototype. Each of the new partners will take on a different role in putting together the prototype. Amazon is among the announced companies.

Both the U.S. Securities and Exchange Commission (SEC) and Ripple have asked for a swift judgment in the regulator’s case against the fintech firm over its sale of XRP tokens. Both are looking for a summary judgment, according to recently filed documents.

Sponsored: B2Broker, a recognized market leader in providing technology and liquidity solutions for Forex and crypto industries, has launched cTrader White Label to help brokers expand their operations. 

 

Top stories in the Crypto Roundup today:

• White House Publishes Framework on Crypto Regulation
• ECB’s Partners to Develop Digital Euro Prototype Include Amazon
• SEC and Ripple Seek Ruling in Long-Running Legal Battle
• Ethereum Ecosystem vs. Bitcoin Growth
• Sponsored: B2Broker Introduces cTrader as a White Label Platform

White House Publishes Framework on Crypto Regulation

The White House published its first-ever framework on cryptocurrency regulations late last week, covering the key areas of the cryptocurrency space that the Biden administration wants to focus on. The move follows President Joe Biden’s executive order on “Ensuring Responsible Development of Digital Assets.”

In a statement, the White House detailed how multiple government agencies came together and would seek to oversee the growth of the digital asset space with a focus on seven primary goals. These goals are:

• Protecting consumers, investors, and businesses
• Promoting access to safe and affordable financial services
• Fostering financial stability
• Advancing responsible innovation
• Reinforcing the U.S. standing as a financial leader
• Fighting illicit finance
• Exploring a central bank digital currency

The report goes into how the government plans to achieve its goals for each section, with some containing no new information and instead emphasizing the principles and policies to which the present administration has been sticking.

ECB’s Partners to Develop Digital Euro Prototype Include Amazon

The European Central Bank (ECB) has announced the selection of five new partners to support the development of a digital euro prototype. Each of the new partners will take on a different role in putting together the prototype. Amazon is among the announced companies.

The e-commerce giant will be responsible for developing e-commerce payments within the project. Spanish bank CaixaBank will develop online peer-to-peer payments for a mobile application, while French multinational payment service Worldline is going to be responsible for developing these for the offline version.

Point-of-sale payments from the payer and payee are the responsibility of the ECB-backed European Payment Initiative and of the Italian paytech company Nexi, respectively. The prototyping exercise is set to begin within the month of September and finish by the end of December.

The process is part of an ongoing investigation phase spanning over two years, with the ECB expecting to complete this phase by March 2023 by evaluating the prototypes produced. The central bank launched its investigation into a digital euro in July 2021.

SEC and Ripple Seek Ruling in Long-Running Legal Battle

Both the U.S. Securities and Exchange Commission (SEC) and Ripple have asked for a swift judgment in the regulator’s case against the fintech firm over its sale of XRP tokens. Both are looking for a summary judgment, according to recently filed documents.

The filings suggest neither party wants the legal action to continue to a full trial. The SEC sued Ripple and two of its executives in 2020, alleging they sold unregistered securities when they issued $1.3 billion worth of XRP tokens. Ripple denies XRP is a security.

In the case, a major point of contention emerged over a speech from former senior SEC staffer Bill Hinman, who explained in 2018 that he didn’t consider top cryptocurrencies BTC and ETH to be securities. Ripple has been seeking to obtain documents and communications related to the speech, which the SEC has been trying to shield.

Ethereum Ecosystem vs. Bitcoin Growth

In the third quarter of the year, digital assets relating to the Ethereum ecosystem have seen a significant price increase, as these coins and tokens benefitted from the narrative surrounding the Merge upgrade, which saw Ethereum move from Proof-of-Work into Proof-of-Stake.

Looking at the Ethereum Ecosystem, Optimism (OP) saw a 135% rise and was followed by Ethereum Classic (ETC) and Polygon (MATIC), which rose 130% and 70.7%, respectively.

Read more in our latest Market Spotlight Blog.

B2Broker Introduces cTrader as a White Label Platform

B2Broker, a recognized market leader in providing technology and liquidity solutions for Forex and crypto industries, has launched cTrader White Label to help brokers expand their operations. 

The new service will allow businesses to access one of the highest-rated multi-asset trading platforms on the market used by experienced traders across the globe. The product provides features that include a license for the servers and an established connection to liquidity providers.

With cTrader White Label there’s no need to worry about integrating CRM, back-office systems, or implementing crypto processing because the B2Broker team will do everything while providing clients with unlimited 24/7 customer service.

It comes with cBroker, an app that helps brokers keep track of their clients' activities, and see the bigger picture. It provides a simple yet efficient way to manage trading inquiries and maintain customer accounts. 

Platforms that offer users the ability to copy other traders' strategies are becoming increasingly popular, as they offer a convenient and user-friendly way to trade. cTrader Copy comes with a range of features that make it a great option for both experienced and novice traders — investors can choose the assets they wish to trade, as well as the amount they wish to invest.

Featuring a Prime of Prime Liquidity Pool, White Label cTrader is the perfect solution for those seeking the best prices from world-leading financial institutions. A large portfolio of over a thousand different trading instruments, including 110 Forex symbols and 150 cryptocurrency CFDs, allows traders to take advantage of the best that the market has to offer. 

B2Broker's White Label cTrader provides a complete brokerage solution for companies looking to get into the Forex, crypto, and multi-asset markets.

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