The UK’s Financial Conduct Authority (FCA) has announced plans to establish a comprehensive cryptocurrency regulatory framework by 2026.

The initiative, aimed at catching up with global leaders in crypto regulation, will begin with consultations and discussion papers on key topics such as market abuse, stablecoins, staking, crypto lending, and trading platforms, starting in late 2024.

This strategic move comes as the UK seeks to position itself as a competitive financial hub in the digital asset sector alongside global leaders like Hong Kong, Singapore, the UAE, and the European Union.

The EU’s Markets in Crypto Assets (MiCA) regulations, set to take full effect by the end of 2024, have further highlighted the need for the UK to accelerate its efforts to remain globally relevant.

The FCA’s regulatory priorities will focus on fiat-pegged stablecoins, staking services, custodial wallets, and related crypto services. The goal is to create a transparent framework that balances investor protection with fostering innovation. This approach is seen as essential for attracting digital asset businesses and maintaining the UK’s competitiveness in the rapidly evolving crypto industry.

Recent data shows crypto ownership in the UK has grown by 4% over the past two years, with approximately 7 million adults now holding digital assets. This increasing adoption has underscored the importance of clear regulations to safeguard consumers and encourage sustainable growth in the sector.

The pro-crypto stance of Donald Trump’s administration in the US, which has hinted at policies like establishing a strategic Bitcoin reserve, has added urgency to the UK’s efforts.

With global shifts toward crypto-friendly policies, the FCA is under pressure to develop a regulatory framework that keeps pace with international standards. The collaboration will play a central role in the FCA’s roadmap. The regulator has pledged to work closely with the government, industry players, international partners, and consumers to shape effective policies.

Economic Secretary Tulip Sidiq, under the Keir Starmer government, has also committed to delivering draft crypto regulations, marking the administration’s first major step toward crypto policy reform.

The FCA plans to release position papers on key issues by early 2025, with final policies expected by 2026. This initiative reflects the UK’s determination to emerge as a global leader in crypto regulation while ensuring investor protection and promoting innovation.

Morocco Prepares to Regulate Bitcoin and Crypto After 2017 Ban and Explore CBDC Development.

Morocco is taking significant steps toward regulating cryptocurrency use and exploring the introduction of a central bank digital currency (CBDC). Abdellatif Jouahri, the governor of Bank Al-Maghrib (BAM), the country’s central bank, confirmed that a draft law to govern cryptocurrency transactions is now under review and in the process of adoption.

Since 2017, Morocco has maintained a ban on Bitcoin and all other cryptocurrencies due to concerns about money laundering, terrorist financing, and other illicit activities.

However, underground crypto usage has persisted despite this prohibition, signaling strong public interest in digital assets.

The new legislation aims to provide a legal framework for crypto transactions, balancing regulatory oversight with the growing demand for digital finance solutions.

Morocco CBDC

In parallel, BAM is exploring the potential launch of a CBDC. Unlike decentralized cryptocurrencies, a CBDC would be controlled by the central bank, offering the advantages of digital currency while aligning with national financial policies.

BAM sees the CBDC initiative as a way to promote financial inclusion and modernize the country’s financial infrastructure.

Morocco is part of a global trend toward CBDC development. Currently, 134 countries are researching or developing CBDCs, a dramatic rise from 35 in 2020. Among these, 66 nations—including all G20 members—are in advanced stages, ranging from pilot programs to near-ready implementations.

Stellar (XLM) surge 95.47% in 7 days, but Egrag Crypto predicts a cycle peak ranging from $1.50 to $3.70.

Stellar’s XLM has captured significant market attention, displaying sharp price movements over recent days. As of now, the crypto trades at $0.4486, reflecting a 15.05% decline in the past 24 hours. Despite this, the asset has surged 95.47% over the last seven days, signaling heightened market activity. 

An analyst on X, Egrag Crypto, has pointed to several critical factors influencing this volatility and its upward trajectory. Insights suggest that both technical patterns and market dynamics play a role in Stellar’s price momentum.

Key Drivers Behind XLM’s Price Surge

Notably, according to Egrag, a substantial capital injection has been identified as a primary catalyst. This influx of funds into XLM indicates a rising demand and growing interest in the crypto.

#XLM Why it Pumped Aggressively:

Several factors contributed to the strong and rapid surge in #XLM's price:

1) Major Capital Injection 💸
A significant inflow of funds into #XLM triggered the sharp price movement, indicating growing market interest and demand.
2) Order Book… pic.twitter.com/FpfIpZXxjT

— EGRAG CRYPTO (@egragcrypto) November 26, 2024

Additionally, shifts in the order book dynamics contributed to the upward trend. Thin order books, characterized by low liquidity, saw large buy orders that pushed prices higher. These conditions created a chain reaction, amplifying the momentum in a relatively short period.

Another noteworthy factor is Stellar’s breaking through low-volume areas, or zones with minimal trading activity. These areas, marked by sparse volume bars on the Volume-Range Profile, provide less resistance to price movements.

Also, XLM always copies XRP as XRP rose from $0.55 to $1.60; soon after, XLM Started to rise. Ripple CTO, mentioning the same point, said in September that “Even over 8 years, XRP price and XLM price track absurdly well.”

Technical Patterns and Predictions

Further, several technical analyses have emerged, predicting further gains for Stellar. This projection implies potential gains of 233% to 343% from recent levels. Notably, Egrag also anticipates XLM targeting a cycle peak ranging from $1.50 to $3.70.

Charting Guy, another market commentator, highlighted a long-term bullish pattern forming on Stellar’s monthly chart. This Adam and Eve pattern, established since 2017, suggests a breakout could propel XLM to $3-$5.

More Conservative Predictions

Egrag’s November 18 analysis emphasized that XLM’s recent weekly gain is likely the beginning of further upward momentum. Having already climbed an impressive 2,312% from its lowest point this cycle as of the 18th, XLM is projected to see additional gains. Egrag particularly anticipates the crypto could rise another 850%, reaching a potential target of $2.27.

On the same day, Egrag had identified a wave-like price structure that suggests an imminent breakout into the “Inter Stellar Gateway zone.” Here, the prices might attain a price between $0.794 and $1.057.

Binance co-founder Changpeng Zhao (CZ) has urged the cryptocurrency industry to focus on real blockchain applications, calling the meme coin trend “a little weird.”

His comments come as the meme coin market has seen a significant downturn. Its total market capitalization dropped to $120 billion, representing a 7.5% decrease in just 24 hours.

This decline aligns with the broader crypto market’s retracement, sparking fresh discussions within the crypto community about the state of meme coins and their place in the blockchain ecosystem.

Community Divided Over Meme Coins’ Role

In a tweet today, Binance’s CZ shared his concerns about meme coins, questioning the growing craze around them. “Meme coins are getting a little weird now,” he said.

Accordingly, he encouraged the industry to prioritize developing real blockchain solutions. His comments have been met with both support and criticism.

I am not against memes, but meme coins are getting "a little" weird now.

Let's build real applications using blockchain.

— CZ 🔶 BNB (@cz_binance) November 26, 2024

IncomeSharks, a platform known for market education, echoed Zhao’s sentiment, describing meme coins as having shifted from entertaining to “extremely weird and desperate.”

Meanwhile, analyst Willy Woo remarked on the evolution of blockchain applications, comparing the current trend of meme coins to early blockchain gambling use cases.

Others, such as Dark Crypto Larp, criticized Binance’s listing choices, alleging a focus on meme coins over utility-driven projects. Larp suggested that Binance could better steer the industry by prioritizing innovative applications.

This discourse emerged as Binance Futures launched perpetual contracts for two meme coins, 1000WHYUSDT and 1000CHEEMSUSDT, with high leverage options. Following the announcement, both tokens experienced sharp declines, with WHY dropping 30% and Cheems losing over 50% of its value.

Aggressive Promotions of Meme Coin Raise Concerns

Meme coin promotions by influencers have also come under scrutiny. A report from Coinwire highlighted that 76% of meme coins endorsed by cryptocurrency influencers have ultimately collapsed, with only 1% achieving significant growth. The report further detailed that most promoted meme coins experience a 70% decline within a week of endorsement.

Interestingly, the performance of promoted meme coins appears inversely related to the size of an influencer’s following. Influencers with over 200,000 followers typically see negative returns on their promotions, with average losses of 39% within a week and 89% within three months.

Conversely, smaller influencers with fewer than 50,000 followers have reported more favorable outcomes, including 25% positive returns in the first week and an eventual 141% increase over three months.

Regardless, influencers continue to profit from their meme coins promotions. According to the report, an average promotional tweet earns influencers $399 while reaching approximately 15,000 views.