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You know, one of the things we've been highlighting is that today we were going to hear from the Supreme Court about Trump's tariffs and the impact that could potentially have on the markets. Well, that decision has been delayed till next week, I believe Thursday it is. So we're gonna have to wait and see. So like I said, no updates on the price, but we got huge institutional adoption of crypto. Let me kick it off here with BNY Mellon. So BNY Mellon expands digital cash capabilities by enabling on-chain mirrored representation of client deposit balances on its digital assets platform via tokenized deposits. So all the banks, all the stock exchanges are all getting involved in crypto in one way or the other. So let me give you some more details as to what BNY Mellon is doing here. So tokenized bank deposits are on-chain cash balances or depositor claims against a bank. BNY Mellon will issue the tokenized bank deposits on an in-house permissioned blockchain network, according to an announcement from the company. Now, one of the things I've shared with you all over the years is that we're going to see the combination of private permission blockchain, like what BNY Mellon has here, but they're going to have to build bridges to the public blockchains because that's where the majority of the settlements are done. That's where the liquidity is. So if they're trying to do tokenize their own internal things, that's fine. But if they wanted to communicate with the rest of the world and participate and transact with the rest of the world, they got to build the bridges to the public blockchain. So don't be surprised if they do that. And you're going to see a lot of institutions. JP Morgan is actually doing that. So they brought their Connexus private permission blockchain. They're integrating it on other blockchains. And we're going to talk about what they did with Canton Network a little bit later. So this is a big move by the world's largest custodial bank and, of course, America's oldest bank. So the on-chain deposits will be used to support collateral and margin requirements with additional functionality in the future, BNY said, adding as global financial markets shift towards an always-on operating model. So always-on means 24-7, right? We've been talking about it for years. And crypto was the first truly global market that ran 24-7. Now TradFi is catching up. So they said institutions are seeking faster and more efficient ways to move assets with greater settlement certainty, transparency, lower friction and capability to unlock liquidity. So the move by BNY is the latest blockchain related development from a major financial institution as banks and established players in traditional finance overhaul legacy financial infrastructure to meet the demands of the digital age. So that summarizes exactly what's happening, right? You better get on board this train or you're going to be disrupted. Now, what's interesting, the folks at Ripple weighed in on this. They said, today, our partners at BNY Global launched tokenized deposit services for institutional clients, bringing the promise of digital assets directly into the banking system. With Ripple Prime as an early adopter, we're proud to expand our longstanding strategic collaboration with BNY, the primary reserve custodian of RLUSD. Together, we are bridging traditional and digital markets. So it going to be a multi world You going to see these different banks work with different chains and different companies like Ripple So this is really big and very big for Ripple as well Now, the folks at Canton Network weighed in on this, and we've been talking a lot about Canton Network recently. And you all know, I've been telling you for months, pay attention to Canton Network, right? How many times have I said that? Pay attention. That doesn't mean you have to go invest in it, but this is a project to watch. I personally bought the token. I told you guys when I did. And so far, the coin is up. So, you know, that purchase was definitely good. So commenting on the launch, Yuval Ruz, who I interviewed late last year, co-founder and CEO of Digital Assets, said, We welcome the opportunity to work with BNY Mellon as they advance a practical, institutional-ready approach to tokenized deposits. Bringing deposit balances on-chain can make asset mobilization more efficient and unlock liquidity across key workflows. This direction aligns closely with our strategy for the Canton Network, supporting a privacy-enabled on-chain infrastructure and solutions that help regulated institutions coordinate and transact in real time while maintaining the controls, governance, and trust that underpin global financial markets. Now, I missed the big news item about JP Morgan looking to issue their GPM deposit token directly on the Canton network. This news was from a couple of days ago or yesterday, I should say. And yesterday I did tell you about the Temple Digital Group launching 24-7 institutional trading on Canton. But the JP Morgan news is pretty big. It's Connexus, right? And they're looking to build on the Canton network. So we saw the DTCC is building on the Canton network and a bunch of other firms. firm. So this is really great. So here are the details of the JP Morgan partnership. JP Morgan's Connexus and digital asset plan to bring JPM coin to the Canton network, enhancing real-time interoperable digital money. The initiative aims to bridge traditional finance and digital ledger technology while maintaining privacy and compliance. The integration will occur in phases through 2026, focusing on JPM coin issuance, transference, and redemption on the Canton network. So JPM coin, that started off as a private permission coin within the JP Morgan Connexus or Quorum network. Now, like I said, they're building the bridges to the public blockchains and Canton network is a public blockchain, but it has privacy enabled built in natively. So that's the big differentiator and is backed by a lot of Wall Street firms like Goldman Sachs, Citadel, and so forth. So I'm bullish on the Canton network, not financial advice. I'm not telling need to go and invest in it. But if you're looking for new projects, this is one to go do your research on. Now, folks, this episode is brought to you by Proppy. Proppy is leading the charge with putting real estate on chain. Folks, we know all asset classes are going to be tokenized, right? Larry Fink of BlackRock said, tokenization is the future of finance. So we know real estate, the world's largest asset class, will be tokenized on the blockchain, but also the process of buying and selling and getting a mortgage and all these things will be disrupted by blockchain and made more efficient, eliminating a lot of middlemen. Well, Proppy's doing that, folks. They're using blockchain and AI to allow you to better improve the real estate buying and selling process. And you can use Proppy's platform to buy and sell homes for crypto. So if you want to buy a house or Bitcoin or sell a house or Bitcoin, you can do that on Proppy. And Proppy has been doing this since 2017. I discovered them in 2018 and I invested in the Proppy token. So I'm a Proppy token holder. And Tim Draper, billionaire investor, Tim Draper is an investor in his company. So they use Coinbase for the crypto escrow service, the buying and selling, and they put deeds on chain. They've created NFTs for properties and much more. They're doing a lot, folks. So you got to definitely pay attention to this company within the real estate space. And if you got some crypto, you can go check out some of these homes that are listed on this website and platform and see if you can buy a house with crypto. So it's a really, really awesome feature and something I'm going to pay attention to as, let's say, crypto continues to go up and it's at certain valuations. Well, if I can buy a new bigger house with crypto, that will work out pretty well, right? So be sure to check out Proppy, guys. Again, I'm a token holder. I'm bullish on this project long term. So go to Proppy.com. Link will be in the description. Okay, the institutional adoption news continues. Look at this. NASDAQ, the CME Group joined forces to launch the NASDAQ CME crypto index. This is incredible news. Just look at the infrastructure that's being built here. I've often stated the same services that exist for TradFi such as the data analytics tracking white glove services and much more are now being established for crypto So I hope you see where we going which direction the puck is heading in here folks This is massive So the NASDAQ Stock Exchange and the Chicago Mercantile Exchange Group joined forces to unify their crypto indexes, rebranding the NASDAQ Crypto Index NCI as the NASDAQ CME Crypto Index. The NCI Benchmark Index includes Bitcoin, Ethereum, XRP, Solana, Chainlink, Cardano, ADA, Avalanche, also known as AVAX, Spokespersons for Nasdaq confirm to Cointelegraph. Starting a business can be overwhelming. You're juggling multiple roles, designer, marketer, logistics manager, all while bringing your vision to life. Shopify helps millions of business sell online. Build fast with templates and AI descriptions and photos, inventory and shipping. Sign up for your one euro per month trial and start selling today at shopify.nl. That's Shopify.nl. It's time to see what you can accomplish with Shopify by your side. This is ASR for you and a valuable community. ASR does it. So, we can now listen to your podcast. maxis, folks. Listen to the institutional guys who see the market from a macro perspective, who see it from a 360 perspective, and just the full lay of the land, right? And it's not going to be one chain or one coin to rule them all. You're going to have multiple coins and chains that are going to be used for different use cases and in different industries and in different regions of the world. It's going to be a multi-chain world. So interoperability is certainly going to be a big factor. And clearly these assets they highlighted here get a big vote of confidence if you have the CME and the NASDAQ, you know, including them in the index. So this is very bullish. Now, crypto is a global asset class and we're seeing the establishment of frameworks and rules and regulations and licenses and much more across the globe. And here we have a report that Ripple scores a UK regulatory approval via local subsidiary. So everybody's in the race to get their licenses and grab as much market share as possible. So the FCA granted Ripple's UK subsidiary, Ripple Markets UK, an electronic money institution registration and registered it under the UK's money laundering regulations, according to official regulators. The EMI license allows companies to provide payment services and issue electronic money, a move that could potentially impact Ripple as it issues its stablecoin, RLUSD. The approval came as the FCA set a timeline for its new crypto licensing regime, requiring MLR registered firms to apply for full authorization under the Financial Services and Markets Act by October 2027. So really, really great stuff here. And here's another example. Colombia advances crypto tax rules as global reporting standards take shape. So we're seeing guys, sometimes the smallest countries in different parts of the world, whether it's in the Asian markets or the Middle East or Europe or South America or Latin America, wherever it's all moving in the same direction. So Columbia's tax authority, Dian, D-I-A-N, has introduced a mandatory reporting regime for crypto service providers requiring exchanges and intermediaries to collect and submit user and transaction data as part of its oversight of the digital asset sector. The rules were set out in Resolution 000240, issued on December 24th, which adds a crypto reporting regime aligned to the OECD-developed international standards, including the crypto asset reporting framework known as CARF. So according to the new rules, crypto exchanges, custodians, and other service providers must report identifying information and transaction data for reportable users, enabling the automatic exchange of that information with foreign tax authorities. So folks, they're not banning crypto. We know this. I often stated any country that bans crypto is writing its economic death sentence What we are seeing they embracing crypto They going to allow it to flourish but they going to put the guardrails in place to protect consumers and allow innovation to flourish But also the tax man got to get his cut right So that's happening globally. You can't avoid it. So just be prepared wherever you're trading crypto, there's going to be tax reporting. So just be prepared for that. Now, speaking of regulations here in the United States, we are, of course, waiting for the crypto market structure bill. And look at this. Senator Cynthia Lummis, who's been a big champion of crypto. She tweeted out a photo today of a copy of the bill that she's reading through and said, light reading for today. So we're seeing some movement. And here we have an update from Brendan Peterson of Punchbowl News saying, the Senate Banking Committee markup of the crypto market legislation has officially been noticed. Per staff notice, you can read here, includes important run of show information for amendments and the manager's package too. So next week, we know the markup is scheduled. So there's a whole process. You got to acknowledge it, approve it. You guys know how the sausage is made, right? Some of this stuff is boring, but the important takeaway is there's progress. That's what we want to see. Progress, progress, progress. Regardless of this person did this and this write-up, as long as there's progress, that's what we want to see. And it's important to know that some Democratic leaders, they're saying, hey, look, we want to make sure there's ethics safeguards to make sure that elected officials are not profiting off the industry. I agree with this. I don't think Democrat, Republican, Independent, whatever party you are, there are certain things you shouldn't be doing. I've been on record from day one, Trump should not have launched a meme coin. Whoever did that and told him to do that, they made a big mistake, right? Because we see a lot of Democrats and even Republicans and general crypto people don't like that. It stole a lot from the crypto industry. It gave some bad optics. So I think even if you are the biggest Trump fan or just simply independent like me, you can agree. Like, hey, man, that was such a bad idea and we can't have that. Let's say Trump is out of office eventually, right? And then there's a Democrat president. Do I want a Democrat president to then launch his own mic? Of course not. We can't have that, guys. That is not something an elected official should have. So I hope that they put the guardrails in here that if you're an elected official, there are certain things you can't do. Now, I'm fair. You know, I've said that the president's kids being involved in crypto business. I have no problem with that. If his son wants to be with American Bitcoin or World Liberty Financial or whatever, that's fine. But when it's tied so closely to Trump and all that, that's not good. So I agree with the Democrats here on that. And no elected official on any level. I don't care what the hell party you're at. You don't have this right. No meme coins and things along those lines. So folks, that's the news. Let me know what you think. Lots of big institutional adoption news. Things are moving ahead pretty fast. And I'm excited to see how the market reacts. Come next week with the markup of the bill, plus Trump's decision from the Supreme Court about Trump's tariffs and much more. We'll see how the market reacts. But if you appreciate this news, please hit the thumbs up button. Subscribe if you haven't as yet. Leave a comment below. And guys, please, please, if you appreciate the content, please support the podcast by subscribing to my free email newsletter. It is 100% free. Grab a copy of my book on Amazon. It's available in paperback and digital. And if you want to expand your knowledge about crypto, check out my course at mycryptocourse.com. This is a comprehensive course that teaches you everything you need to know about crypto. So check it out. link will be in the description. Folks, thank you so much for tuning in. I appreciate you all and I'll talk to you all later. Shopify helps millions of business sell online. Build fast with templates and AI descriptions and photos, inventory and shipping. Sign up for your 1 euro per month trial and start selling today at Shopify.nl. That's Shopify.nl. 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