Hey there, PoI readers! 💫 

It's your favorite crypto connoisseur, Mochi, here with another delectable serving of web3 wisdom! This week's menu is absolutely packed with regulatory flavors from across the globe. We're diving into the UK's regulatory kitchen where they're cooking up a comprehensive crypto framework, taking a peek at Trump's potential crypto revolution, exploring China's "it's complicated" relationship with digital assets, and watching two banking giants play nice in the blockchain sandbox. So grab your favorite beverage of the morning, settle in, and let's digest these juicy developments together! 🌐

INTEL BRIEF

🟧 The UK Treasury announced plans to unveil a comprehensive crypto regulatory framework by early 2025, addressing stablecoins, staking services, and cryptocurrencies in a single phase.

🟧 The Blockchain Association has presented President-elect Trump with a five-point crypto reform plan, urging implementation within his first 100 days to revitalize the US crypto industry.

🟧 A Shanghai judge has clarified that while cryptocurrency ownership is legal in China, commercial entities are prohibited from issuing tokens or engaging in crypto transactions.her.

🟧 Mastercard and JPMorgan have integrated their blockchain payment solutions, MTN and Kinexys Digital Payments, to enable faster cross-border settlements through a single API.

UK's 2025 Crypto Master Plan - Why This Changes Everything!

The UK is finally stepping up its crypto game with a promise to deliver comprehensive regulations by early 2025. Economic Secretary Tulip Siddiq (and yes, that's her real name) dropped this regulatory bombshell at London's Tokenisation Summit on November 21.

The Labour government, fresh from their July 5 victory, is taking a "all-in-one" approach. They're bundling regulations for stablecoins, staking services, and cryptocurrencies into one neat package. As Siddiq eloquently put it, "Doing everything in a single phase is simpler and it just makes more sense" - because apparently, the UK government has discovered the revolutionary concept of efficiency!

Here's where it gets interesting: staking services won't be labeled as "collective investment schemes" - a move that has crypto enthusiasts breathing a sigh of relief louder than a British tea kettle. The government is actually removing legal uncertainty instead of adding more - shocking, I know!

But here's the tea: The UK is feeling the pressure. While they've been busy changing governments, the European Union is already rolling out their Markets in Crypto-Assets (MiCA) regulation. Add to that a potentially crypto-friendly Trump administration in the US, and suddenly the UK's dream of becoming a crypto hub is looking about as stable as a London weather forecast.

The previous Conservative government had made promises about July regulations that has disappeared. The Labour government's only crypto-related action so far has been a September bill attempting to classify NFTs, cryptocurrency, and carbon credits as property - which is like saying water is wet, but I suppose we have to start somewhere!

UK Treasury promises comprehensive crypto regulations by early 2025, covering stablecoins, staking, and cryptocurrencies in one framework

Staking services won't face restrictive "collective investment scheme" classification

UK faces pressure to catch up with EU's MiCA implementation and potential US crypto-friendly administration

Trump Wants To Change All Crypto Rules In His First 100 Days And The Blockchain Association Is Backing Him

The Blockchain Association has officially dropped a letter in Trump's inbox on November 22nd, essentially saying "New administration, who dis? Let's talk crypto reform!"

The five-point plan they've cooked up is spicier than a crypto trader's portfolio during a bull run. Their message? The US crypto scene has been getting about as much love as a vegetarian at a steakhouse, with innovators being "targeted and driven offshore by a hostile regulatory regime." But now, they're betting on Trump to flip the script.

The Association's shopping list includes some pretty bold asks: establishing a crypto-friendly framework, ending the financial equivalent of ghosting crypto businesses (aka debanking), and bringing in a new SEC chair who'll give SAB 121 the same treatment Trump gives his social media posts - a complete overhaul!

Speaking of musical chairs in Washington, there's quite the Treasury Secretary drama unfolding. After Lutnick snagged the Commerce Secretary role (pending confirmation), rumor has it that Kevin Warsh might be the new money maestro. It's like a game of political musical chairs, but with more zeros in the budget!

The cherry on top? They're pushing for a crypto advisory council - because apparently, what Washington needs is another committee! But, Trump's team is reportedly already cooking up plans for a White House crypto czar position.

Blockchain Association proposes ambitious five-point crypto reform plan for Trump's first 100 days

Major leadership changes proposed at SEC, Treasury, and IRS to create a more crypto-friendly regulatory environment

White House considering creating dedicated cryptocurrency position, showing early commitment to crypto reform agenda

China Finally Admits Bitcoin Is Legal And The Reason Will Surprise Everyone

A Shanghai judge has dropped some major clarity bombs about cryptocurrency's legal status in China. Judge Sun Jie, shared her thoughts via the court's WeChat account (because where else would a Chinese judge post legal opinions?).

The case that sparked this legal enlightenment reads like a crypto soap opera: an agricultural company handed over 300,000 yuan (about $44,400) to an investment company for a blockchain white paper and token that never materialized.

Here's where it gets juicy: Judge Sun Jie declared that virtual currency is a "virtual commodity with property attributes" - which is basically saying it's like digital pet rocks that you can own but shouldn't trade commercially.

The judge's warning about crypto reads like a greatest hits album of financial fears: potential money laundering, illegal fund-raising, fraud, and pyramid schemes. It's basically everything but claiming crypto will steal your lunch money and give you bad breath!

The most fascinating part? Despite China's 2017 crackdown on crypto exchanges and the 2021 multi-agency party pooper parade, owning cryptocurrency was never actually illegal in China. It's like having a pet dragon - you can keep it, but don't try to breed or trade it!

This ruling gives us a peek into China's "it's complicated" relationship with crypto: individuals can HODL (Hold On for Dear Life) all they want, but businesses better keep their digital hands to themselves!

Chinese court confirms cryptocurrency ownership is legal for individuals but not for commercial transactions

Judge defines crypto as a "virtual commodity with property attributes", distinguishing it from fiat currency

Commercial entities are prohibited from issuing tokens or engaging in crypto investment transactions in China

JPMorgan And Mastercard Just Created A Secret Blockchain Network That Moves 2 Billion Dollars Daily

Mastercard and JPMorgan are doing the corporate equivalent of a high-tech fist bump, combining their blockchain powers like financial superheroes! Their latest collaboration is bringing together Mastercard's Multi-Token Network (MTN) and JPMorgan's Kinexys Digital Payments - it's like a blockchain power couple that actually works!

The dynamic duo is tackling what they call "time zone friction" - because apparently, even in 2024, we're still dealing with the fact that the Earth is round and spins (who knew?). Their solution? A single API integration that promises to make cross-border payments smoother than a banker's silk tie.

Let's talk about Kinexys (formerly known as Onyx - apparently, someone at JPMorgan really likes playing with Scrabble tiles). This platform has come a long way since its 2020 debut when it was about as popular in the crypto community as a vegetarian at a BBQ competition. But look at it now - processing a whopping $2 billion in daily transactions!

Speaking of glow-ups, Kinexys recently got a fancy rebrand on November 6th, complete with new features like onchain foreign exchange settlements.

Meanwhile, Mastercard's MTN has been busy playing in various regulatory sandboxes (yes, that's a real thing, not just where junior bankers practice their trades). They've been testing everything from carbon credits in Hong Kong to wrapped central bank digital currencies with the Reserve Bank of Australia. It's like a global financial playground, but with suits instead of slides!

Mastercard's MTN and JPMorgan's Kinexys integrate to streamline cross-border payments through single API

Kinexys (formerly Onyx) now processes $2 billion daily in transactions, up from $1 billion in October 2023

Both platforms are expanding into new territories with foreign exchange settlements and carbon credit tokenization

And that's all the tea for today, my wonderful PoI readers! 🫖 From the British crypto kitchen to Chinese legal chambers, and from Trump's regulatory wishlist to banking giants' blockchain tango, we've covered quite the global feast of developments. As your trusted crypto foodie, I must say this week's stories were particularly scrumptious!

Remember to keep your eyes peeled for how these regulatory shifts might reshape our digital landscape - especially with the UK's upcoming framework and the potential US policy makeover. Until our next digital rendezvous, this is Mochi, your favorite web3 taste-tester, wishing you a week filled with gainz (both in knowledge and portfolios)!

P.S. Don't forget to share your thoughts, questions, and favorite crypto puns with us. very voice matters in the PoI community! 📣❤️ Share the newsletter.

s🍨📰 Catch you in the next issue! 📰🍨