Launchy Regulatory Roundup #24 - Bitcoin Under $100K as US Tariffs Spark Global Retaliation

Global Collaboration & Digital Asset Innovation | Pump.fun Lawsuit

Marco Manoppo & Muhammad Reynaldi Ariananda Arkiang
February 02, 2025

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Welcome to our 24th edition of the regulatory roundup. If you know anybody who would benefit from this content, please help us spread the word!

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Bitcoin’s dip under $100K amid US tariff drama isn’t just a market hiccup, it hints at a global tug-of-war where trade wars and regulatory chess moves converge. As nations scramble to draft crypto rulebooks, we’re left wondering: can innovation really thrive when every border becomes a battleground?

In Today's Edition:

Headline: Bitcoin Under $100K as US Tariffs Spark Global Retaliation 📉
Global Legal Roundup: Pump.fun Lawsuit, SBF’s Parents Want Pardon 🇺🇲
Case Study: Global Collaboration & Digital Asset Innovation 🌐

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HEADLINE

Bitcoin Under $100K as US Tariffs Spark Global Retaliation

State of play: Bitcoin slipped below the $100,000 mark—falling to approximately $99,540—after US President Donald Trump imposed new import tariffs on goods from China, Canada, and Mexico.

These tariffs include a 25% charge on imports from Canada and Mexico (with a reduced 10% rate for Canadian energy products) and a 10% tariff on imports from China.

The move, aimed at addressing issues like illegal immigration and the flow of drugs into the US, sparked immediate retaliatory actions from the affected countries:

Prime Minister Justin Trudeau announced a 25% tariff on $106.5B worth of US goods.
China’s Ministry of Commerce indicated it would file a complaint with the World Trade Organization (WTO) and take countermeasures.
Mexico President Claudia Sheinbaum mentioned plans to implement "plan B," which includes both tariff and non-tariff measures.

What’s Next: The imposition of these tariffs is expected to contribute to rising inflation and potentially higher interest rates, factors that typically drive investors away from riskier assets such as cryptocurrencies.

Why it Matters: Within the crypto community, some experts argue that ongoing institutional buying of Bitcoin and Ethereum means the tariffs' impact is overblown, while others warn that these economic pressures could cause long-term challenges.

Our Take: Bitcoin’s dip reflects market uncertainty amid new US tariffs and swift trade pushback. While institutional support may cushion the blow, rising inflation and interest rates could pose longer-term risks for crypto.

GLOBAL LEGAL ROUNDUP

America:

🇺🇲 Bitwise’s BTC & ETH ETF clears first SEC hurdle.
🇺🇲 SBF’s parents seek pardon from President Trump.
🇺🇲 LayerZero CEO announces settlement with FTX estate.
🇺🇲 Utah House committee passes bill for state to buy crypto.
🇺🇲 KuCoin pleads guilty to US charges, agrees to pay $300M.
🇺🇲 Pump.fun hit with suit claiming all memecoins are securities.
🇺🇲 Arkansas Senate rejects mining facility zoning restriction bill.
🇺🇲 Arizona Senate moves forward with Bitcoin reserve legislation.
🇺🇲 Ripple announces money transmitter licenses in Texas and New York.
🇺🇲 Fed chair calls for Congress to move on crypto ’regulatory apparatus.’
🇺🇲 Illinois considering strategic Bitcoin reserve with 5-year hodl strategy.
🇺🇲 Judge says it could be ‘improper’ to order Bitfinex hack funds returned.
🇺🇲 Crypto firms double down on influencing US elections via PACs in 2026.
🇧🇷 Brazil bans Worldcoin from giving crypto for eye scans.

Europe:

🇪🇺 OKX & Crypto.com secure full MiCA licenses in EU.
🇪🇺 Kraken to delist Tether USDT, 4 other stablecoins in Europe.
🇨🇿 Czech National Bank governor to propose $7B Bitcoin reserve plan.
🇦🇹 Austrian crypto unicorn Bitpanda receives MiCA license in Germany.
🇫🇷 French prosecutors probe Binance over money laundering, fraud allegation.

APAC:

🇭🇰 Hong Kong SFC grants first crypto licenses of 2025.

CASE STUDY

Global Collaboration & Digital Asset Innovation

Credits to Cointelegraph and Elise Donovan for the Original Article

State of play: Digital assets are rapidly gaining traction worldwide, driving the need for coordinated, cross-border regulatory frameworks that support innovation while mitigating risks.

The surge in adoption has spurred demand for a robust, multinational financial ecosystem capable of handling diverse digital asset use cases.
This momentum is prompting jurisdictions to tailor balanced regulatory environments that foster innovation without compromising security.
For instance, some international financial centres have enacted comprehensive legislation to attract digital asset businesses.

Global standards, including those set by the Financial Action Task Force (FATF) and the European Union’s Markets in Crypto-Assets (MiCA) regulation, further underline the importance of a unified approach to regulation.

Regional collaboration, particularly in areas like the Caribbean, is also crucial.
Conferences and discussions within the region have highlighted that while excessive regulation may stifle innovation, thoughtful, harmonized oversight is essential to counter money laundering and terrorist financing risks.

Our Take: As digital assets surge in popularity, cross-border cooperation becomes essential to balance innovation with risk management.

Shared regulatory practices, robust technological solutions, and international best practices are crucial for fostering a secure, thriving global DeFi ecosystem.

Take a peek at our referral reward at the bottom of this issue. Share this newsletter and receive our comprehensive database of crypto regulations around the world👇

NOTEWORTHY READS & MEME

Laura Shin’s thread on FDIC & operation Chokepoint 2.0.
Jake Chervinsky’s thread on why crypto must remain nonpartisan.
Neeraj Agrawal’s article on Coin Center’s Top Policy Priorities for 2025.

— sassal.eth/acc 🦇🔊 (@sassal0x)
3:19 AM • Feb 2, 2025

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