Crypto Weekly: Pakistan's World Liberty Financial Deal & BitGo's IPO Plans

Pakistan's Crypto Agreement

• 🤝 Pakistan has signed an agreement with SC Financial Technologies, an affiliated entity of World Liberty Financial, to explore using its USD1 stablecoin for cross-border payments.
• 👨‍💼 Pakistan's Prime Minister Chevaz Sharif met with World Liberty's co-founder and CEO, Zack Witkoff, in Islamabad regarding this potential collaboration.

Coinbase and US Crypto Legislation

• 🚫 Coinbase CEO Brian Armstrong stated the company cannot support a draft US legislation aimed at creating a regulatory framework for cryptocurrencies.
• ⚖️ The proposed bill seeks to define crypto tokens as securities or commodities and assign policing of spot crypto markets to the Commodity Futures Trading Commission.
• 🤔 Without Coinbase's backing, the advancement of this bill is uncertain.

EU Crypto Regulations in France

• ⚠️ Nearly a third of crypto companies operating in France without an EU license have not yet informed the regulator if they intend to obtain the required license or cease operations by July.
• 🇪🇺 New EU rules, which came into force last year, mandate that crypto companies must obtain national licenses to operate across the bloc.

BitGo's IPO Target

• 🚀 Crypto custody startup BitGo is targeting a valuation of up to $1.96 billion for its US initial public offering.
• 📈 The company aims to capitalize on investor interest in crypto firms as the IPO market shows signs of recovery.