[Bitpush Daily News Highlights] US Treasury Secretary Bessent: Stablecoin market size may grow to $3 trillion by 2030; Canary XRP ETF has completed listing certification on Nasdaq and will begin trading at market open; Federal Reserve mouthpiece: Most regional Fed voting members are not enthusiastic about a rate cut in December; SEC plans to introduce a “token taxonomy”: anchored to the Howey Test, exploring crypto assets

Bitpush editors' daily selection of Web3 news:

[US Treasury Secretary Bessent: Stablecoin market could grow to $3 trillion by 2030]

According to Bitpush, US Treasury Secretary Bessent stated that by 2030, the stablecoin market could grow from $300 billion to $3 trillion, a tenfold increase. (Zhitong Finance)

[Canary XRP ETF has completed listing certification on Nasdaq and will begin trading at market open]

According to Bitpush, crypto journalist Eleanor Terrett reported that as of 5:30 PM Eastern Time, the Canary XRP ETF has officially taken effect after completing listing certification on Nasdaq, and XRPC has been approved to start trading at tomorrow's market open.

[Federal Reserve mouthpiece: Most regional Fed voting members are not enthusiastic about a rate cut in December]

According to Bitpush, Federal Reserve officials have recently been intensively discussing monetary policy. "Fed mouthpiece" Nick Timiraos stated that four regional Fed presidents with voting rights (Boston Fed's Collins, St. Louis Fed's Musalem, Chicago Fed's Goolsbee, and Kansas City Fed's Schmid, who voted against the rate cut in October) are not actively pushing for another rate cut in December.

Note: Each year, four regional Feds rotate as FOMC voting members. Starting next year, the above four officials will lose their voting rights on the FOMC. The New York Fed has a special status and holds a permanent voting right.

[SEC plans to introduce "token taxonomy": Using the Howey Test as an anchor to explore non-securitization paths for crypto assets]

According to Bitpush, The Block reported that SEC Chairman Paul Atkins proposed establishing a "token taxonomy," using the Howey Test as the core to determine which crypto assets are considered securities.

He stated that crypto assets can shed their investment contract attributes as networks mature and control becomes decentralized. The SEC has launched "Project Crypto," which aims to allow tokens related to investment contracts to be traded on CFTC or state-regulated platforms, and is considering exemption packages for crypto assets. Atkins reiterated that the SEC will strictly enforce against fraud and confirmed that "tokenized securities" such as stocks are still considered securities. On the legislative front, the House has passed an industry regulatory bill, and two versions are advancing in the Senate; the SEC's work is intended to complement congressional legislation.

[EU plans to tighten MiCA regulation, may ban sharing order books with non-EU exchanges]

According to Bitpush, the European Securities and Markets Authority (ESMA) is preparing to strengthen and centralize the regulation of the EU crypto asset market, further unifying the implementation of MiCA (Markets in Crypto-Assets Regulation). The French Financial Markets Authority (AMF) and other national regulators have called for clear provisions within the MiCA framework that trading and execution activities (including local order books) must be located within the EU and subject to local supervision. ESMA's move may mean banning EU crypto platforms from sharing order books with non-EU and non-MiCA regulated exchanges to ensure regulatory consistency.

[Dubai court freezes $456 million in funds related to Sun Yuchen's rescue of TrueUSD issuer Techteryx]

According to Bitpush, a Dubai court has frozen $456 million in funds related to Sun Yuchen's rescue of TrueUSD issuer Techteryx, as its reserves were allegedly transferred in violation of regulations to Dubai company Aria Commodities. The court found signs of "breach of trust."