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Global Power Moves: SEC, France, and $8.8B in Crypto

SEC meets BlackRock, $8.8B bet in Maldives, France goes full ban

📬 Today’s Byte

• Wall Street walks into Tokenization talks

• $8.8B Crypto bet on the Maldives

• France bans privacy coins & platforms

• Thread of the day

🏛️ Wall Street walks into Tokenization talks

The SEC’s third crypto roundtable is spotlighting tokenization — and it’s not just crypto natives anymore. BlackRock, Fidelity, Nasdaq, Invesco, Apollo, and DTCC are stepping up to help shape how tokenized assets fit into traditional finance.

Commissioner Hester Peirce, who leads the Crypto Task Force, called tokenization a “tech shift” that could fundamentally reshape markets. The session, held at SEC HQ and livestreamed, is part of what she’s dubbed the agency’s “spring sprint toward crypto clarity.”

This isn’t just optics — it's the SEC signaling that tokenization is no longer a side trend. It’s now core to how capital markets may evolve.

📈 $18.85B RWA market brings urgency

Real-world assets (RWAs) on-chain are booming. The market now sits at $18.85 billion, led by private equity (55%) and a fast-growing slice of tokenized U.S. Treasuries, which jumped from $775M to $3.97B in Q1 — a 30% spike in three months.

  • Analysts project RWAs could hit $50B by year-end.

  • Private credit is expected to grow slowly to $17.5B.

  • Tokenized Treasuries are outpacing every other asset class.

But growth isn’t smooth. Issues like slow settlement, liquidity gaps, and complex custody requirements are keeping many institutional players cautious.

📉 Tokenized stocks lag — But not for long

Tokenized equities remain stuck at $15 million in value — barely a blip in capital markets. Regulatory uncertainty, infrastructure bottlenecks, and investor lockups have kept this segment on pause.

Still, there’s clear upside. With SEC direction, tokenized stocks could open the door to fractional, borderless equity investing — pushing the sector toward a projected $1B+ valuation.

A regulatory greenlight could shift tokenized stocks from niche novelty to everyday asset class.

This roundtable could be the first step toward that future.

🗓️ Quick hit: DeFi roundtable rescheduled

The SEC’s next event — “DeFi and the American Spirit” — has been moved from June 6 to June 9. It will explore the regulatory future of decentralized platforms.

All prior registrations remain valid.

New participants can still register online.

💸 Smart money tracker

A Dubai investment firm just poured more crypto into the Maldives than the entire country’s GDP. MBS Global Investments is backing a $8.8 billion project to build a crypto-focused financial hub in Malé — a move that could triple the island nation’s economy within five years.

The Maldives International Financial Centre will span 830,000 sq. meters, host 6,500 residents, and create over 16,000 jobs. The aim? To pull the country out of a looming debt crisis and make it a major player in digital finance.

  • Already secured: $4–5B in funding

  • Backed by: Sheikh Nayef bin Eid Al Thani

  • Revenue goal: $1B+ by year five

Finance Minister Moosa Zameer called the move “a leap” toward breaking free from tourism dependence and dealing with urgent debt — including $1.7B due by 2026.

While India and China have long backed the Maldives with development loans, this is a different play entirely. “With MBS, we are getting into business,” Zameer said. And that business is crypto.

🛡️ Regulation watch

France is officially cracking down on crypto privacy. The government has banned privacy-focused digital assets and platforms — including tokens like Monero and mixers like Tornado Cash — citing the need to align with Financial Action Task Force (FATF) guidelines on traceable transactions.

The move positions France among the most restrictive EU countries on crypto privacy tech and comes as lawmakers argue that full anonymity enables tax evasion, cybercrime, and illicit finance.

  • What’s banned: Monero, Tornado Cash, and similar privacy tools

  • Why it matters: EU-wide MiCA regulations are still evolving

  • France joins U.S. in outlawing Tornado Cash use

This ban could influence broader EU regulation and deepen global pressure on privacy-enhancing crypto projects. While advocates say privacy is a core crypto value, regulators see a growing threat.

🔍 Chainalysis flags surge in crypto crime

Supporting France’s concerns, a recent Chainalysis report revealed a rise in criminal crypto usage — from laundering stolen funds to processing ransom payments.

Criminal groups now favor crypto for speed, anonymity, and low fees

North Korea’s Lazarus Group reportedly uses privacy platforms to move stolen funds

France has already recorded three crypto-related kidnappings in 2025

One disturbing case involved a crypto millionaire’s father being kidnapped and mutilated, with criminals demanding a ransom in digital assets. It’s the dark side of decentralization regulators are watching closely.

🧵 Thread of the day by @CPOfficialtx

Market-moving headlines 🔥

Ethereum co-founder Vitalik Buterin has issued a stark warning to developers of rollup-based L2 systems solutions, emphasizing that the rush to decentralize without robust security measures could result in catastrophic financial losses.

Federal Reserve officials are meeting this Tuesday and Wednesday in Washington, and Jerome Powell already spelled it out—interest rates are staying exactly where they are.

The X account of Curve Finance was most probably hacked. The DeFi protocol posted an airdrop link that may lead to personal wallet losses. 

Tether, the firm best known for its USDT stablecoin, has announced new updates about its artificial intelligence products. The company’s CEO, Paolo Ardoino, teased the AI platform on X, stating that it would have Bitcoin and USDT integrations.

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