Hello friends! We are back with the latest crypto news from around the world. The blockchain world is buzzing with action, and we’ve got the scoop on the latest trends and events and crypto regulations, just for you.
Democrats Stir the Pot with DeFi “Restricted List” Drama
It goes without saying, but in case you didn’t know, US Democrats have always been against crypto. So, it comes as no surprise that the crypto community is buzzing with reactions to new drama by Democratic Senators.
US Democratic Senators proposed a counter-plan that could slap a “restricted list” on DeFi protocols deemed too risky. Boy this was not received well. Critics are adamant that this move could “kill DeFi” and send innovators packing to friendlier shores.
Your completely free resource hub designed to boost your knowledge of cryptocurrencies
The Senate Banking Committee pushed for Know Your Customer (KYC) rules on crypto app frontends, including non-custodial wallets, and removing protections for crypto developers, according to news reports.
Crypto lawyer Jake Chervinsky called this plan a crypto-ban in disguise that could derail the bipartisan CLARITY Act, which sailed through the House with a 294-134 vote in July. He also highlighted that blacklisting DeFi protocols would make them taboo and using them, a crime.
Crypto enthusiasts around the world watch and wait to see how this drama ends.
Luxembourg’s Sovereign Fund Joins the Bitcoin ETF Party
Luxembourg is doing something novel in Europe! The country’s sovereign wealth fund is diving into the crypto pool with a 1% stake in Bitcoin ETFs.
Bob Kieffer, Luxembourg’s Director of the Treasury spilled the beans on LinkedIn quoting Finance Minister Gilles Roth’s 2026 Budget presentation.
With the Intergenerational Sovereign Wealth Fund (FSIL) managing about €764 million ($888 million), this translates to a cool $9 million in Bitcoin ETFs.
Kieffer called it a nod to Luxembourg’s leadership in digital finance, and the investment signals the growing legitimacy of crypto as an asset class around the world.
What’s more? This move could inspire other global funds to follow suit.
Uganda’s CBDC is Sending Major Positive Vibes
Uganda has launched an ambitious CBDC pilot, sparking major financial vibes in the sub-Saharan African region. The CBDC pilot essentially introduces a digitized Ugandan shilling on a permissioned blockchain, and it will be backed by treasury bonds.
Meanwhile, neighboring Kenya is also going through major transformation and is on the verge of a regulatory breakthrough, with its Virtual Asset Service Providers (VASP) bill passing parliament. The bill now simply awaits President William Ruto’s signature to become law.
When all is said and done, the African region, much like most countries around the world, is rushing to embrace digital currencies and blockchain innovation. As a matter of fact, Sub-Saharan Africa is a hotbed for crypto adoption, ranking as the third-fastest-growing region globally. according to a September Chainalysis report.
And that’s a wrap from political showdowns to game-changing investments around the world friends. Stay tuned for more updates and don’t forget our social media handles.
