Repump.dev will be launched on the mainnet at 17:00 on December 1. Repump.dev will provide users with a wider range of Meme participation opportunities in addition to Pump.fun. Through the innovative Repump model, the platform will reactivate the liquidity of dead Memes in the market, provide initial support for the project, and form a virtuous circle. In addition, the Goose token will be upgraded to the exclusive platform token of Repump.dev, and will play a more important role in the entire ecosystem by continuously empowering the platform's functions and values.

According to Odaily, the Russian Ministry of Industry and Trade has proposed extending the timeline for the launch of the digital ruble by two years, aligning it with the schedule provided to smaller retailers. In October, the Central Bank of Russia revealed its timeline for the digital ruble's introduction as part of a bill submitted to the State Duma. The large-scale rollout is set for July 1, 2025, by which time the largest banks and retailers are required to support the central bank digital currency (CBDC). This deadline applies to retailers with a turnover exceeding 30 million rubles (approximately $274,000). Retailers with revenues between 20 million and 30 million rubles are granted an additional year, while smaller companies receive an extra two years. The ministry highlighted that there are currently no established rules for the operation and functioning of the digital ruble, leaving retailers insufficient time to prepare and adjust their point-of-sale software. This sentiment is echoed by trade organizations. The Retail Companies Association (ACORT) expressed in a letter, "We believe it is necessary to avoid setting specific deadlines through legislation for the system's introduction at the trade level and to provide at least a two-year transition period during which companies can undertake the necessary work."

Russia’s Ministry of Industry and Trade has requested a two-year extension of the timeline for launching the digital ruble, similar to the one offered to small retailers. In October, the Central Bank of Russia published a timeline for launching the digital ruble as part of a bill submitted to the State Duma. The mass rollout date is July 1, 2025. By then, the largest banks and retailers must support the central bank digital currency (CBDC). The July 1 deadline applies to retailers with a turnover of more than 30 million rubles ($274,000). Retailers with revenues between 20 million and 30 million rubles can get an additional year, and small companies can get an additional two years. The ministry noted that there are still no rules for the operation and functioning of the digital ruble, so retailers do not have enough time to prepare and adapt their point-of-sale software. Trade bodies agree with this view. “We consider it necessary to avoid legislation that sets specific deadlines for launching the system at the trade level and provide for a transition period of at least two years, during which companies will carry out the necessary work,” the Association of Retail Companies (ACORT) said in a letter.

SIX, owner of the Spanish stock exchange BME, has invested in OpenBrick, a Spanish real estate tokenization platform as a complement to SIX Digital Exchange (SDX). OpenBrick was founded by real estate company Grupo Lar, asset manager Renta 4 Banco, and blockchain development company ioBuilders. In addition to SIX, the startup is adding strategic partners such as law firm Garrigues and infrastructure financing company Teras Capital. BME also revealed that its Central Securities Depository (CSD) subsidiary Iberclear plans to obtain a license to operate a DLT trading and settlement platform (DLT TSS) under the EU DLT pilot regime in 2025. As a result, Iberclear will become the platform operator for DLT transactions executed by OpenBrick.

According to Odaily, the Basel Committee on Banking Supervision has released its Basel III monitoring statistics for December 2023, which include data on crypto asset exposure. Although the data predates the launch of a Bitcoin ETF in the United States, it highlights a significant increase in U.S. banks offering crypto services to clients. Notably, American banks have largely exited the cryptocurrency custody sector, primarily due to the U.S. Securities and Exchange Commission's (SEC) SAB 121 accounting rule, which prohibits banks from providing custody services. However, the incoming Trump administration is likely to completely abandon this rule. In the second half of 2023, assets under custody in Europe grew by 49% compared to the first half, reaching 5.5 billion euros (5.8 billion dollars). Globally, 94% of custody involves spot cryptocurrencies rather than tokenized assets or exchange-traded products (ETPs). In terms of client exposure, the Americas dominate, providing 98% of services. U.S. banks have exposed clients to 190 billion euros (201 billion dollars) in risk. Additionally, U.S. banks have significantly increased their own exposure, nearly quadrupling it, albeit from a small base. By the end of 2023, the prudential risk exposure stood at 531 million euros.

According to Odaily, Japan is contemplating the introduction of new lightweight legislation for cryptocurrency intermediaries that do not operate as exchanges. Recently, the Financial Services Agency (FSA) presented its ideas to the Financial System Council's Payment Services Working Group. In 2017, Japan implemented legislation for Crypto Asset Exchange Service Providers (CAESP), which covers the buying and selling of cryptocurrencies, acting as brokers, managing funds related to these services, or providing custody. However, many so-called introducers, who do not operate cryptocurrency exchanges, do not consider themselves as CAESP. As a result, the FSA is considering a proposal that would require these introducers to register as intermediaries. These intermediaries would be obligated to provide information to users, face advertising restrictions, and potentially be liable for damages if issues arise. The FSA is also evaluating how to handle damage compensation. Current regulations for other financial service intermediaries not part of larger groups require them to provide a margin to cover potential damages. If an intermediary is affiliated with a cryptocurrency exchange, the exchange might be responsible for covering damages.

Japan is considering new lightweight legislation for crypto intermediaries that are not crypto exchanges. The Financial Services Agency (FSA) recently presented its ideas to the Financial System Committee’s Payment Services Working Group. Japan introduced legislation for crypto asset exchange service providers (CAESPs) in 2017, covering the buying and selling of cryptocurrencies, acting as a broker, managing funds related to these services, or providing custody. However, many so-called introducers that do not operate crypto exchanges do not consider themselves CAESPs. As a result, the FSA is considering proposals to require them to register as intermediaries. Introducers would be obliged to provide information to users, would be subject to advertising restrictions, and could be liable for damages if things go wrong. The FSA is also considering how to handle damages. Current regulations for other financial services intermediaries that are not part of a larger group require a security deposit to cover potential damages. If the intermediary is affiliated with a crypto exchange, the damages could be borne by the exchange.

This week, the Basel Committee on Banking Supervision published its Basel III monitoring statistics for December 2023, including exposure to crypto assets. Given that this was before the launch of the US Bitcoin ETF, the data is somewhat old, however it already shows a significant increase in US banks offering crypto services to clients. In particular, the Americas have almost completely left the crypto custody space, largely because the US SEC's SAB 121 accounting rule prohibits banks from providing custody services, and the incoming Trump administration is likely to abandon the rule entirely. Assets under custody in Europe grew 49% to €5.5 billion ($5.8 billion) in the second half of 2023 compared to the first half. Globally, 94% of custody is for spot crypto, not tokenized assets or ETPs. In terms of achieving client exposure, the Americas dominate, providing 98% of services. US banks brought €190 billion ($201 billion) of exposure to clients. US banks also significantly increased their own exposure, almost quadrupling, albeit from a small base. The prudential exposure at the end of 2023 is EUR 531 million.

According to Odaily, a recent report by the European Union delves into the potential of permissionless blockchains within traditional finance (TradFi). The report suggests that permissionless blockchains should at least be considered as an option for traditional finance and financial market infrastructure, albeit with cautious adoption. It argues that such blockchains can be more neutral than private blockchains, thereby fostering competition. The unrestricted access provided by public blockchains contrasts sharply with the growing number of isolated permissioned blockchains. While public blockchains have their drawbacks, the report notes that there are numerous well-known solutions to address these challenges, particularly by adding permissions at the smart contract level. The report highlights that permissionless blockchains can offer an interoperability layer for Layer 2 blockchains, including regulated ones. When smart contracts are located on a single chain, they can be combined to form more complex functionalities. However, the report also acknowledges the disadvantages of public blockchains, such as scalability, privacy, finality, and governance. It provides an in-depth analysis of each of these topics, as well as the contentious issue of Miner Extractable Value (MEV).

The European Union recently released a report exploring the potential of permissionless blockchains in traditional finance (TradFi). The report argues that permissionless blockchains should at least be considered as an option for traditional finance and financial market infrastructure, but should be adopted with caution. The report argues that such blockchains can be more neutral than private blockchains, thereby encouraging competition. The unrestricted access achieved by public blockchains contrasts sharply with the isolated permissioned blockchains that are proliferating. While public blockchains have shortcomings, there are many well-known solutions to their challenges, particularly by adding permissions at the smart contract level. The report states that permissionless blockchains can provide an interoperability layer for L2 blockchains, including regulated blockchains. When smart contracts are on a single chain, they are able to be combined into more complex functions. At the same time, the report also mentions the shortcomings of public blockchains, such as scalability, privacy, finality, and governance. It delves into each topic, as well as the controversial MEV issue.

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