In the world of cryptocurrency today, significant developments have emerged concerning memecoins, regulation, and central bank policies. The community driving the memecoin Floki has taken a pivotal step by approving the allocation of a portion of their funds to serve as liquidity for the forthcoming Floki Exchange-Traded Product (ETP). This decision was made following a unanimous vote by the Floki DAO to use their community buyback wallet, which holds 16.3 billion Floki tokens, for this initiative. The ETP is scheduled to launch in the first quarter of 2025 and aims to provide traditional finance investors in Europe with an avenue to invest in Floki.
Meanwhile, in the United Kingdom, efforts to curb illegal cryptocurrency advertisements face challenges. Despite ongoing warnings from the UK’s Financial Conduct Authority (FCA), illegal crypto ads persist, with only about 54% of the issued alerts resulting in the removal of such advertisements. The regulator continues to focus its efforts on influencers who promote unregulated crypto schemes online.
In Switzerland, a new proposal has been initiated to require the Swiss National Bank to hold Bitcoin as part of its balance sheet. This proposal was set in motion by the Swiss federal chancellery and requires 100,000 signatures to move forward to a public referendum. This strategic move, supported by several advocates, including members from the Swiss Bitcoin nonprofit think tank 2B4CH, aims to integrate Bitcoin into the nation’s financial system, marking a shift in how governments may interact with cryptocurrencies.
Overall, these developments highlight the evolving landscape of cryptocurrency, balancing between innovation and the stringent demands of regulation.
