Key facts
- The SEC's proposed crypto custody rule changes have entered White House review.
- Bernstein predicts Bitcoin will reach $125,000 by late 2026.
- Revolut is launching its euro-pegged stablecoin, EURR, in Denmark, Poland, and Portugal.
- The EURR stablecoin is issued by Bridge Building S.A., a Stripe-owned entity.
- Revolut is withdrawing Tether's USDt from the EEA and Switzerland.
The cryptocurrency landscape saw significant developments today, with regulatory actions, price predictions, and new product rollouts. The U.S. Securities and Exchange Commission (SEC) has advanced its proposed overhaul of crypto custody rules to the White House for review. This move, which reached the Office of Management and Budget’s (OMB) regulatory review arm on August 25, could clarify how investment advisers and funds hold digital assets for clients. The proposal is not yet public and may be subject to changes before a potential vote by SEC commissioners.
In the realm of price forecasting, research firm Bernstein has issued a bullish outlook for Bitcoin, expecting it to reclaim $125,000 by late 2026. This prediction comes as Bitcoin has shown a rebound after a significant downturn, with analysts noting increased institutional investor involvement providing greater downside support.
Meanwhile, fintech company Revolut has commenced a phased rollout of its euro-backed stablecoin, EURR, to select customers in Denmark, Poland, and Portugal. Issued by Luxembourg-based Bridge Building S.A., the stablecoin is designed to be MiCA-compliant and will be integrated into Revolut's retail app. This launch coincides with Revolut's withdrawal of Tether's USDt from the European Economic Area (EEA) and Switzerland.