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Группа крупнейших банков запустит привязанный к евро стейблкоин
Bank Of America Opens Up To Bitcoin, Recommends Up To 4% Crypto Allocation
Bank of America is the latest traditional institution to warm up to Bitcoin, with its investment strategists set to cover four ETFs starting in January.
Bank of America To Begin Endorsing Crypto ExposureAs reported by Yahoo Finance, Bank of America will start recommending its clients a 1% to 4% portfolio allocation to digital assets. Until now, the bank’s wealth advisors couldn’t endorse crypto exposure and clients had to request access to digital asset products if they wanted them in their portfolio.
With this move, Bank of America advisors can begin recommending digital asset exposure to clients across the bank’s Merrill, Bank of America Private Bank, and Merrill Edge Platforms. “Our guidance emphasizes regulated vehicles, thoughtful allocation, and a clear understanding of both the opportunities and risks,” said Chris Hyzy, chief investment officer at Bank of America Private Bank.
Investment strategists will initially cover four Bitcoin exchange-traded funds (ETFs) starting January 5. ETFs are investment vehicles that allow traders to invest into an underlying asset without having to directly own it. Since they trade on traditional platforms and are regulated, institutional entities prefer to invest through them.
The four spot Bitcoin ETFs Bank of America will be focusing on include Bitwise’s BITB, BlackRock’s IBIT, Fidelity’s FBTC, and Grayscale’s BTC.
Bank of America is one of the largest financial institutions in the world, ranking only second behind JPMorgan Chase in market cap and placing sixth largest in terms of total assets. It’s designated as a global systemically important bank (G-SIB) by the Financial Stability Board (FSB), meaning it’s so entrenched in world economy that instability related to it could have widespread consequences.
Even an institution of its size no longer being able to ignore Bitcoin showcases just how far digital asset adoption in traditional finance has come. “This update reflects growing client demand for access to digital assets,” noted Nancy Fahmy, head of Bank of America’s investment solutions group.
The news arrives just a day after Vanguard Group, one of the largest asset managers in the world, opened its doors to crypto ETFs and mutual funds.
Morgan Stanley, another G-SIB, broadened access to crypto exposure for its clients back in October. The financial services institution’s global investment committee suggested 2% to 4% allocation in digital assets.
Bank of America’s recommendation of 1% to 4% is quite similar. “The lower end of this range may be more appropriate for those with a conservative risk profile, while the higher end may suit investors with greater tolerance for overall portfolio risk,” added Hyzy.
Bitcoin PriceBitcoin has already recovered from its Monday blow as its price has returned to $92,100.
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Poland’s President Vetoes Crypto Market Bill Due To ‘Overregulation’ Concerns
The President of Poland has vetoed a controversial bill that aimed to set strict rules on the crypto assets market, following multiple concerns of a startup exodus, “overregulation” of the sector, and stifling market innovation.
Poland’s President Vetoes Divisive Crypto BillOn Monday, Poland’s President Karol Nawrocki refused to sign a crypto market legislation over concerns that it could pose a real threat to the freedoms of Poles, the stability of the state, and market innovation.
In an official statement, the president’s office announced Nawrocki’s decision to veto the Crypto-Asset Market Act, introduced in June, to prevent “overregulation” and abuse of the “legal mess” proposed by the Polish government.
As reported by Bitcoinist, Poland’s crypto community previously raised concerns about the legislation in September, noting that the bill exceeded the European Union (EU)’s minimum regulatory requirements and could drive small businesses and startups abroad.
Notably, the bill’s text required all Crypto Asset Service Providers to obtain a license from the Polish Financial Supervision Authority (KNF) to operate in the market. It also proposed heavy fines and potential prison time for participants who breached the law.
Rafal Leśkiewicz, Press Secretary of the President, listed on X three main reasons for Nawrocki’s decision to reject the bill. He asserted that the legislation risks power abuse and overreach, as some provisions allow the government to shut down websites of companies offering crypto services “with a single click.”
“This is unacceptable. Most European Union countries use a simple list of warnings that protects consumers without blocking entire websites,” he noted.
In addition, the regulation’s size and lack of transparency risked overregulation, noting that countries like the Czech Republic, Slovakia, and Hungary implemented concise and comprehensive frameworks. Meanwhile, Poland’s text surpasses the one-hundred-page mark.
He argued that “Overregulation is a straight path to driving companies abroad—to the Czech Republic, Lithuania, or Malta—instead of creating conditions for them to earn money and pay taxes in Poland.”
Lastly, the Press Secretary listed the amount of supervisory fees as an issue, affirming that the government set them at a level that would have prevented small businesses and startups from developing, favoring foreign corporations and banks. To him, “this is a reversal of logic, killing the competitive market and posing a serious threat to innovation.”
Community Praises The ‘Necessary Decision’Leśkiewicz emphasized that regulation is necessary, but added that it must oversee the market in a way that’s “reasonable, proportionate, and safe” for users, rather than overreaching and potentially harming the Polish economy.
“The government had two years to prepare a bill in line with the European MiCA regulation on the crypto-asset market in the European Union. Instead, it produced a legal mess that hurts Poles and Polish companies,” he asserted. “The decision to veto was necessary and was made responsibly. The president will defend the economic security of Poles.”
Polish economist Krzysztof Piech praised the president’s decision to veto the crypto bill, affirming that it was “a very bad law” that “violated the Polish Constitution and was contrary to the EU regulation it was supposed to implement in Poland.”
Piech also refuted claims that Poland will become a “paradise” for criminals and fraudsters, who will “be grateful” to President Nawrocki for “a crypto market without state supervision.”
The economist asserted that the government’s version of the bill “did not provide for any assistance to victims of fraudsters,” adding that, “as of July 1, 2026, the entire Polish market will be regulated and supervised — even without any legislation. After all, we are in the EU.”
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Grayscale Rejects 4-Year Cycle Thesis, Says Bitcoin Could Hit New ATH In 2026
Grayscale Research has gone against the grain, rejecting Bitcoin’s popular 4-year cycle thesis and saying new highs could be possible next year.
Grayscale Research Doesn’t Believe A Prolonged Bitcoin Decline Is Coming YetIn a new report, Grayscale Research has discussed what the latest pullback in the market could mean for Bitcoin. This drawdown, which began in early October and lasted until two-thirds of the way into November, resulted in a price decrease of about 32% from peak to trough.
While the scale of the drop hasn’t been small, Grayscale has noted that it has still been close to the historical average for bull market drawdowns. “Since Bitcoin’s price bottomed in November 2022, it has declined at least 10% nine times,” said the crypto asset manager’s research arm. “It has been a bumpy ride, but not atypical for a Bitcoin bull market.”
2026 will mark four years since the 2022 bear market. Among BTC traders, there is a popular idea that the cryptocurrency’s price cycles run over a length of roughly four years. According to this thesis, the next year could see the asset go down, as it has now enjoyed three years of appreciation.
The 4-year cycle thesis originates from the fact that Bitcoin Halving events are spaced apart by approximately four years. During such an event, BTC’s block subsidy, a fixed reward that miners receive for adding the next block to the chain, is slashed in half.
As the block subsidy is the only way to mint more of the cryptocurrency, Halvings have a direct effect on its supply growth. This scarcity effect of the Halving is what has made many in the community believe that the event sits in the center of bullish phases.
Historically, Bitcoin has seen large drawdowns about every four years, which has strengthened the belief in the idea of a cycle being four years in length. Grayscale doesn’t think that the current cycle will go the same way, however. “Although the outlook is uncertain, we believe the four-year cycle thesis will prove to be incorrect, and that Bitcoin’s price will potentially make new highs next year,” explained the report. Grayscale Research has given three reasons for this expectation.
The first is the fact that the latest BTC cycle hasn’t seen any phase of parabolic price increase, as the below chart highlights.
The second is that Bitcoin has seen a shift this cycle, with instruments like exchange-traded funds (ETFs) and digital asset treasuries (DATs) bringing in fresh capital. Before, BTC relied on inflows through retail exchanges.
Lastly, Grayscale has pointed out that the macro market backdrop is still looking favorable for cryptocurrencies; the potential for lower interest rates and continued progress on bipartisan digital asset legislation could drive institutional investment.
BTC PriceAt the time of writing, Bitcoin is floating around $87,000, unchanged from one week ago.
New U.S. Stablecoin Regulations Imminent as FDIC Finalizes GENIUS Act Guidelines
The U.S. Federal Deposit Insurance Corporation (FDIC) is preparing to publish its first formal proposal outlining how stablecoin issuers will operate under the GENIUS Act, according to acting chairman Travis Hill.
The rulemaking package is expected to be submitted to the House Financial Services Committee before the end of December, marking a major step toward implementing the country’s new federal stablecoin framework.
FDIC Nears First Draft of GENIUS Act Stablecoin RulesThe Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act), signed into law in July, created a multi-agency oversight system for payment stablecoins.
Under the law, only licensed issuers are allowed to offer stablecoins to U.S. users, with oversight divided between the FDIC, Federal Reserve, Treasury, and other regulators.
Hill said the FDIC has been developing application procedures and prudential standards that will apply to stablecoin-issuing subsidiaries of FDIC-supervised institutions.
These standards include capital requirements, liquidity expectations, and reserve asset diversification rules designed to ensure issuers can meet redemptions during periods of stress.
The agency also expects to release a separate proposal early next year detailing the financial and operational requirements stablecoin issuers must meet once approved.
Regulators Outline Broader Digital-Asset ResponsibilitiesHill noted that the FDIC has taken a cautious but constructive approach toward banks exploring digital-asset services, ensuring activities remain “safe and sound.” Part of the agency’s ongoing work includes responding to recommendations from the President’s Working Group on Digital Asset Markets.
One area receiving particular attention is tokenized deposits, digital representations of bank deposits issued on blockchain networks. Hill confirmed that new guidance is being drafted to clarify how these instruments fit within existing banking rules, reflecting growing industry interest in tokenization for payments and settlement.
Other regulators are advancing their own responsibilities under the GENIUS Act. Federal Reserve Vice Chair for Supervision Michelle Bowman stated that the central bank is collaborating with banking agencies to establish capital, liquidity, and diversification standards for stablecoin issuers.
Treasury Continues Public Consultation ProcessThe U.S. Department of the Treasury has also played a central role in implementing the GENIUS Act.
In September, it released an Advance Notice of Proposed Rulemaking (ANPRM) seeking public feedback on its stablecoin oversight approach. The comment period, which ran through early November, invited input from industry participants, academics, and consumer groups.
The Treasury stated that the consultation aims to strike a balance between innovation and financial stability concerns. Public submissions will help build the final proposals, which will govern non-bank stablecoin issuers and related digital asset activities.
Related Reading: Crypto Crackdown: House GOP Discovers 30 Firms Debanked In Operation Chokepoint 2.0
With the FDIC’s first proposal now nearing completion, federal agencies are entering the next phase of what is expected to be a multi-month rulemaking process. Once draft rules are released, they will undergo public review before final guidelines are adopted and phased in across the stablecoin market.
Cover image from ChatGPT, BTCUSD chart from Tradingview
Bitcoin Price Can Hit These ‘Realistic’ Bullish Targets Before The Bear Market Begins
The consensus is leaning heavily toward the Bitcoin price heading into another drawn-out bear market after hitting its $126,000 all-time high back in October. However, some analysts have shared that this will not happen in a straight line. But rather, there will be short relief rallies that send the price higher before moving into the next phase of the bear market. One of these analysts is TradingShot, who has shared what they refer to as ‘realistic’ price targets that the Bitcoin price can still hit before slipping fully into the bear market.
Bitcoin’s Tendency To RecoverTradingShot’s analysis does not go against the idea of a bear market, but rather points to the fact that Bitcoin is yet to enter a new Bull Cycle. The analysis focuses on the sell-offs that the cryptocurrency has suffered since hitting its all-time high, pushing it into a bearish leg. The analyst draws similarities between the current market structure and what was seen in the market decline between January 20 and April 7, showing that they are both part of a “Channel Up” formation.
Another interesting fact about the current trend is the fact that, just like the January-April trend, it has also completed a 1-Day MACD Bullish Cross. This was a formation that led to a brief recovery back in March, and the same could be the case this time around.
Such a rally, the analyst explains, is known as a counter-trend rally, and another one could be underway. If this is the case, then the Bitcoin price could be gearing up to retest the Lower Highs trendline, putting the contact points at significantly higher price levels than Bitcoin is currently trending at.
The Targets That Could MaterializeIn the event that this Bitcoin price counter-trend rally does play out, TradingShot outlines two major targets that the cryptocurrency could hit. The first of these lies at $95,850, which coincides with the 0.382 Fibonacci level. This level is the rejection point for the April 2025 rally, making it an important play.
Above this first target lies the second and final target of $106,450. This target, interestingly, lies outside of the Lower Highs trendline, but remains a viable option. It would occur in a situation where the Bitcoin price makes contact with the 1D MA200. The analyst explains that “This is where the 0.618 Fibonacci retracement level is, which was also Target 2 for the April fractal and where the second consolidation took place.”
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