00:01If you are a crypto investor, you might know that the EU just built a massive financial
00:06fortress to tame the wild part of the markets. Brussels wanted to replace a chaotic patchwork
00:11of 27 national rules with one strict system. But here goes the surprise. The brand new rulebook
00:17might already be obsolete. Look, the entire crypto topic might be a bit complex, so your
00:22reporter will do his best to safely walk you through it. Ready? On 1st of July, the EU's
00:30landmark crypto rules took full effect, and the execution was a total bust for crypto
00:35firms, especially the foreign ones. Fewer than one in five of Europe's 1,200 registered crypto
00:40companies secured a license, and those who did not had to shut down. But the aim wasn't
00:46to regulate for the sake of regulating. Brussels wanted to stop crypto scams and protect everyday
00:52investors. And big brands like Coinbase cleared the bar, but giants like Binance got kicked
00:57out. And while Brussels was working its domestic markets, Washington rewrote the rules. Last
01:03summer, Donald Trump signed the Genius Act to back stablecoins. Ha! And if you are a bit
01:09unsure what they are, I'm here to help. They are digital currencies designed to be safe by
01:14pegging their value to the US dollar. Like for like, but digital. And stablecoins are not
01:20a small business. 95% of these tokens are tied to American currency. And Trump is using
01:26this technology to expand American financial power. After all, money is power.
01:31But here goes the plot twist. According to Euronews' exclusive report, the new EU rules
01:36fail to regulate companies outside Europe, so foreign companies can bypass them. And EU diplomats
01:42already admit the rules must be changed next year, to better address how tokens created outside
01:47the EU are regulated. Look, I know it all sounds a bit complex, but it's worth knowing what
01:52all this crypto fuss is about. And you know, if you want to keep your money under the bed,
01:57to me it's fine, I won't judge you.
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