US Treasury strategy for financial inclusion mentions digital assets  

Despite the ongoing market meltdown on US trade tariffs, executives at major cryptocurrency firms Messari and Sygnum are bullish on institutional Bitcoin adoption later in 2025.Speaking on a panel at Paris Blockchain Week on April 8, Messari CEO Eric Turner and Sygnum Bank co-founder Thomas Eichenberger said they expect a significant shift in the banking sector’s involvement with crypto in the second half of the year.According to the executives, the global banking push into Bitcoin (BTC) services has great potential to happen in the second half of 2025 as regulators embrace crypto, including stablecoins and crypto services by banks.“I think we’re probably looking at a muted Q2, but I’m really excited for Q3 and Q4,” Messari’s Turner said during the panel discussion moderated by Cointelegraph CEO Yana Prikhodchenko, forecasting “really interesting” things coming to the crypto market in 2025.Crypto adoption is not just about TrumpWhile some investors focus on the pro-crypto stance of US President Donald Trump, Turner emphasized that broader regulatory momentum is what matters most.“When you look at the potential of having market structure regulation in the US, stablecoin regulation, and just the fact that across the board, not just President Trump himself, but the SEC and all these regulatory industries are really embracing crypto,” Turner said.Paris Blockchain Week’s panel with Cointelegraph CEO Yana Prikhodchenko, Bancor co-founder Eyal Hertzog, Sygnum co-founder Thomas Eichenberger, Messari CEO Eric Turner, AWS fintech leader Alex Matsuo and Near chief operating officer Chris Donovan. Source: CointelegraphSygnum co-founder Thomas Eichenberger said international banks with US branches are also poised to enter the market once the legal landscape becomes clearer:“I think it’s a matter of fact that US banks are preparing to be able to offer crypto custody and at least crypto spot trading services anytime soon.”“I think by then I would agree with you, Eric,” he continued, projecting a continued phase of market uncertainty until the US establishes a clear regulatory framework.Related: Ripple acquires crypto-friendly prime broker Hidden Road for $1.25BBanks are no longer afraid of Bitcoin regulatorsWith the establishment of clear crypto rules for banks in the US, there will be a rush for crypto services by large international banks that are incorporated outside of the US but have a US-based presence, Eichenberger said.“Some of them may have had their strategic plans in their cupboard to offer crypto-related services, but have been afraid that at some point they will be gone after by any of the  US regulatory authorities,” he said, adding:“Now I think there’s no one to be afraid of anymore in terms of regulatory authorities worldwide. So I think many of the large international banks will launch this year.”Magazine: Financial nihilism in crypto is over — It’s time to dream big again

The United States Department of Justice (DOJ) is reportedly disbanding the National Cryptocurrency Enforcement Team (NCET).NCET’s disbandment was noted in a four-page memo by United States Deputy General Todd Blanche, according to a Fortune journalist who claims to have seen the document in an April 8 report. The official is quoted saying in the note:“The Department of Justice is not a digital assets regulator. However, the prior Administration used the Justice Department to pursue a reckless strategy of regulation by prosecution.”Blanche is the second-highest-ranking official in the DOJ and served as US President Donald Trump’s defense attorney in high-profile cases, including the New York hush money case and federal cases related to classified documents and the 2020 election.Related: Trump tariff negotiations are ‘all about’ China deal — Raoul PalWhat is the NCET?The NCET’s launch was established in October 2021 under President Joe Biden. At the time, Deputy Attorney General Lisa Monaco said that the unit was aimed at going after platforms “that help criminals launder or hide their criminal proceeds.” She said:“We want to strengthen our capacity to dismantle the financial ecosystem that enables these criminal actors to flourish and — quite frankly — to profit from what they’re doing.”The NCET has been active since February 2022, and at the time of publication, its website remains online. The disbandment is reportedly effective immediately and implemented as part of the efforts to comply with Trump’s late January executive order reshaping US crypto policy.NCET website. Source: US Department of Justice websiteRelated: US federal agencies to report crypto holdings to Treasury by April 7Trump makes waves in US crypto policyBefore returning to office, Trump campaigned on a pro-crypto policy. He promised the creation of a United States strategic Bitcoin (BTC) reserve, spoke at crypto conferences both before and after his reelection and promised to make the US a global crypto leader. He also picked a pro-crypto Securities and Exchange Commission chairman.Despite the administration’s favorable stance, critics have raised concerns over potential conflicts of interest. Trump and his family are behind the World Liberty Financial (WLFI) decentralized finance (DeFi) protocol, the Official Trump (TRUMP) memecoin and his Trump Media is launching crypto exchange-traded funds (ETFs) in partnership with Crypto.com.The projects themselves were also the source of multiple controversies, with the presidential memecoin being hit with insider trading allegations, later written off by some as MEV bot activity. Concerns were also raised about the WLFI’s World Liberty Financial USD (USD1) stablecoin and how it could complicate ongoing bipartisan efforts to pass stablecoin legislation in Congress.This led to Five Democratic lawmakers in the US Senate calling on leadership at regulatory agencies to consider the potential conflicts of interest caused by the USD1 stablecoin in late March. Earlier in April, California Representative Maxine Waters suggested that Trump may be looking to replace the US dollar with his stablecoin.Magazine: Trump’s crypto ventures raise conflict of interest, insider trading questions

Global trade tensions triggered by US President Donald Trump’s sweeping tariff measures may come to an end with a potential deal with China as investors remain concerned about escalation from both sides.Trump’s April 2 announcement of reciprocal import tariffs sent shockwaves through global equity and crypto markets. The measures include a 10% baseline tariff on all imported goods, effective April 5, with higher levies — such as a 34% tariff on Chinese imports — set to begin on April 9.However, the tariff negotiations may only be “posturing” for the US to reach an agreement with China, according to Raoul Pal, founder and CEO of Global Macro Investor.“In the end, almost all the other tariff negotiations and rhetoric are all about getting China to agree a deal,” Pal wrote in an April 8 X post, adding:“That is the big prize and both China and the US understand it and need it. Everything else is negotiation posturing. China needs a weaker $ and the US needs tariffs.”Source: Raoul Pal“Also, the US is trying to shut down China tariff arbitrage using other channels such as Mexico or Vietnam,” Pal said.Related: Bitcoin price can hit $250K in 2025 if Fed shifts to QE: Arthur HayesChina retaliates with new tariffsConsidering China’s latest retaliatory measures, a resolution remains unlikely in the short term.In response to US tariffs, China imposed a 34% tariff on all US imports effective April 10, media outlet Xinhua News reported on April 4. China’s foreign ministry also vowed to “fight till the end” against Trump’s tariffs, which it called “bullying” by the world’s largest economy.China overtakes the US in global trade. Source: EconovisChina overtook the US in 2012 to become the world’s largest trading nation by the total value of exports and imports, surpassing $4 trillion in goods trade that year, according to The Guardian.Crypto markets watch trade outcome closelyAs the trade dispute continues to evolve, analysts say a potential agreement between the two global superpowers could serve as a key catalyst for recovery in digital asset markets.Crypto markets have a 70% chance to bottom by June 2025 before recovering, Nansen analysts predicted.Related: Crypto market bottom likely by June despite tariff fears: Finance RedefinedInvestor appetite for risk assets such as Bitcoin will depend on the global tariff responses from other countries, according to Nicolai Sondergaard, a research analyst at Nansen.“We have reached somewhat of a local bottom in regard to tariffs and the impact on prices,” the analyst said during Cointelegraph’s Chainreaction live show on X, adding:“Trump came out guns blazing, and we’ve mostly seen the worst from the US side, so we’ll see if other countries are willing to drop some of the tariffs because it’s very likely the US will do the same.”Magazine: Bitcoin ATH sooner than expected? XRP may drop 40%, and more: Hodler’s Digest, March 23 – 29