MUFG BANK LAUNCHING A JAPANESE YEN STABLECOIN

MUFG bank is launching a Japanese Yen stablecoin across major blockchains including Ethereum, Avalanche, Cosmos, and Polygon. This is just the latest major Bank globally to launch a stablecoin other offerings. For example, we've seen out of France recently with Society General which launched a Euro stablecoin. We also have Brazil's BTG Pactual which launched a dollar stablecoin recently. All basically shows that there's a growing interest out there from the banking world to be involved in the crypto space and they're offering their own kind of products. Although, crypto natives do seem a lot less Keen to trust Bankers with our stablecoins. For example, Society General zero stablecoins seem like almost no use. So for better or worse, I guess at least we have Tether. It's a crypto-native company and we kind of don't trust them but we do at the same time because they're still around.

Brazil just made another big huge announcement, the biggest Bitcoin cryptocurrency exchange in the country has just been licensed by the Brazilian Central Bank to become a payment institution. Meaning that the firm can Now launch a whole bunch of different Fintech Services, and different Digital Services for crypto-related stuff such as staking, fixed income Investments, Defi, and crypto payments. The company has over 4 million users and this is just the latest in a long line of positive crypto adoption stories that have been coming out of Brazil. Bitcoin is the future of money, crypto is the settlement layer of the internet is the ownership layer of the internet and entire nations are getting on board with this message.

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As Michael Saylor who is the CEO of Microstrategy points out, Bitcoin's 128% since Microstrategy first started buying it back in 2020. Dramatic about performing gold which is down two percent in the same period. Those gains for Bitcoin 128%, that's despite the price being down 60% for its all-time highs right now. My guess is that aim Brazilian that buys Bitcoin today will be up big time in a few years. It's never been easier for those people to buy Bitcoin in Brazil because all these services are coming out and all these different on-ramps are coming out and all these different legal ways to get Bitcoin easily are happening.

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A new bill is being proposed by the Republicans which would see crypto finally achieve regulatory status this time as a commodity not as a security which would be definitely a step in the right direction. Who knows if it's going to pass but we are seeing some lawmakers putting this stuff forward which is good. Being classed as a commodity would mean that crypto can thus thrive on an innovation front because Commodities are much lighter regulated compared to Securities. That security classification if it is applied to all cryptos can kill on and off ramps massively stifle innovation in the USA.

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The USA has been losing the battle for crypto for years now, other countries are eating their lunch Big Time. Developers are running, money is running companies are running. They're all going overseas because the US regulatory environment is rubbish, total garbage right now. So unless those legislators do something to make the Regulators change, then that Innovation is going to keep moving overseas.

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