Bitcoin Just Broke The European Central Bank

Most powerful banks on the continent. One involves a major country about to make a Bitcoin move so big it changes global supply, and one involves the single most traded stablecoin in Bitcoin trading walking away from the entire continent entirely. Christine Lagarde has spent the last 6 weeks trying to fight to stop this. She's already lost. Today, I'm going to walk you through every move, every detection, and every receipt and showing you exactly how Bitcoin just broke the European Central Bank.

First, let's start off with the timer of where this all starts because everything else only makes sense once you see what's coming. So, on July 1st, just 10 days from today, the full MiCA enforcement goes live across 27 EU member states. MiCA is the most aggressive Bitcoin and stablecoin regulation ever written by a major economic block. Licensing, capital requirements, custody rules, stablecoin issuance limits, transaction monitoring, literally the whole framework, and it was passed back in 2023. The grace period ends in 10 days.

So, here's the number you have to understand. 80% of all Bitcoin and crypto firms operating in the European Union are still not licensed under MiCA with 10 days to go, literally. 80% of them, and everybody is starting to notice. Out of the 1,200 pre-MiCA MiCA registered virtual asset service providers across Europe, only 210 have converted to full CASP authorization. Now, that's just 17% conversion rate, literally. 83% of that existing market is about to operate on borrowed time.

So, when that timer hits zero, which is literally just in 10 days, those firms become unlicensed in the eyes of EU law. So, trading desks will now be shut down, custodians lose the right to hold customer funds, on and off-ramps for Bitcoin go dark across the entire continent, literally in just 10 days, folks, because they've been so stringent with these different policies. And so now, it's looking like this is just step one in all of this, because first it was just MiCA to give regulations. Everybody was actually, you know, somewhat happy that they got some sort of regulation and clarity because businesses now have the ability to operate. But, the biggest caveat with all of this was that with regulation, there comes an approval process, and that approval process can just take as much time as the government would like. And that's what we're seeing right now, is that the government is just refusing to accept these new businesses and taking forever to essentially allow them to operate.

Now, taking it a step further when we go deeper into this, is that you look at more the most important Bitcoin trading aspect of all of this is about to disappear from Europe entirely because you need to keep this in the back of your mind, but Binance has been getting begun delisting USDT trading pairs from European Economic Area retail users. >> [clears throat] >> Step further, we've also had Coinbase, we've had Kraken, we've had other big exchanges now essentially go further and look at this delisting of USDT. So, every major Bitcoin exchange in Europe is rolling out the same delisting wave for the same product on the same timeline. It's just been Tether, though, which is a single most traded stablecoin in Bitcoin markets globally because a lot of people trade in and out of Bitcoin using Tether. And >> [clears throat] >> this is what a liquidity shock is going to start to look like before it happened because the most liquid trading pair in Bitcoin switched off across 27 different countries 3 weeks before the rule locks in in the middle of the worst bear trap since 2022.

So, the MiCA regulation is going on with all of this craziness and then taking it a step further, we're also starting to see a lot of companies delist Tether, the largest traded stablecoin. So, the only stablecoin that has made it through the MiCA gate as fully compliant is interesting enough USDC and Euro C. So, this one American issuer or, you know, now Circle is really being able to do that. So, maybe there's a connection here between Tether that the European Union doesn't like.

Now, when it comes to this, you [clears throat] know, who is Tether, right? They're the biggest stablecoin. They've been the one that's been most heavily impacted with all of this. But, is Tether basically being connected with the United States government and hiring executive director Bo Hines as the strategic advisor for digital assets in the United States Treasury? Is this something that the EU and Christine Lagarde is taking as, "Hey, you know what? We're seeing Tether work hand-in-hand with the United States government. We want to zig while they zag. We want to go in the opposite direction." Is that what we're seeing here out of the European Union? Look, I mean, this is just speculation when it comes to how they're approaching it, but it is interesting that they picked this second biggest stablecoin in the world to work with opposed to just working with the first and keep that relationship going and really try to push Tether to actually make a European stablecoin, but we're going to get to that here in a second.

Now, when you keep diving into how the European Union and the ECB is really attacking Bitcoin, you see back four weeks ago, good old Christine Lagarde on May 22nd had something to say when it came to Bitcoin. She walked into a meeting of the EU finance ministers and delivered what is on paper an economic warning. And in practice, it's a declaration of war. Her message was that euro stablecoins, if allowed to scale, will drain retail deposits out of European banks. So, then it would erase bank funding costs, impair the ECB's ability to conduct monetary policy, and she would frame the entire 300 billion-dollar global stablecoin market as, and I'm using her exact framing, as a {quote} stability risk for ECB policy.

Now, let's think about that because the president of the ECB just told the most powerful finance ministers on the continent that the entire stablecoin market is a threat to her institution's power. So, that's not even a regulatory comment. This is like a turf war declaration, right? And it worked for a minute, just so slightly, because Lagarde personally blocked the euro stablecoin push that had been gaining momentum inside the eurozone for the previous 12 months and killed it. So, the ECB initially got what it wanted, but then 12 banks did something that Lagarde never thought they would dare to do. They all formed what is called the Equvalis, this joint venture of European banking consortium, and they're looking to launch a euro stablecoin in the next six months. So, now it was just a small consortium of a few banks, but now it's over 27 different institutions. So, Lagarde is not anti-tokenization or any anti-something else, right? She just wants that the ECB has the ability to do it on their own rails, but the banks are seeing that the ECB is moving way too slow.

And so, while she's at it, she's going on record one more time and saying she's removing any doubt about Bitcoin. She's saying that Bitcoin won't ever be on any of the ECB's reserves. Stablecoins will then not, you know, be useful in the EU. She doesn't want it to keep gassing up and propping up the European or the excuse me, the American stablecoin, the American dollars, right? She doesn't want that to happen. She wants to bring some of that onto her own, you know, European side and start to use the Euro stablecoin as something of a strength because she sees that everybody's looking for dollars, right? It's the most stable of all the fiat currencies, and she sees this as a huge threat, as a huge problem. So, she's trying to prop up that Euro stablecoin as much as possible, and these banks are essentially undercutting her because her plan has fallen apart because she actually needs to follow her own lead. The biggest banks in Europe, the ones whose balance sheet, the entire Eurozone economy depends on it, told her no. And they told her that they want to do it their own way.

But before I show you and dive into who exactly broke the ranks, let's hear you guys in the comments if you're ready for all of this, right? Or in the chat. Do you think that the ECB can hold the position through July 1st? Or has Christine Lagarde already lost? I want to hear what you guys think of this timeline, how we're seeing it play out already with Christine Lagarde, and a lot of the new target services that we're starting to see because I'm curious, right? Because we've seen 12 banks and not 12 random European banks, 12 of the largest banks in the entire EU, ING, BNP Paribas, UniCredit, BBVA, you know, we even have um an Italian bank where I'm at, right? Intesa Sanpaolo. Now putting Bitcoin on the balance sheet. So we're seeing a lot of these European banks really start to take off, right? So Christine Lagarde 4 weeks ago blocked that Euro stablecoin and then now we see a public coordinated full-scale defection from the ECB policy by institutions, right? The Qubits is only the beginning because we've seen Santander in Spain, one of the largest banks in Europe by assets now offering full retail Bitcoin custody and trading to its Spanish Bitcoin clients or clients who want Bitcoin. The BBVA, another Spanish bank, same thing, full Bitcoin custody, full trading rails, integrated directly into their banking app. Then we've seen the France Société Générale, I mean, God bless my French accent, especially when I'm as congested as I am, but we see this now really starting to take flight and one of the largest banks on the continent of Europe got its MiCA license through this digital assets arm, the SG Forge, and it's operating fully under the new regulation issuing tokenized products, custodying Bitcoin and other digital assets. Germany has Deutsche Bank, largest bank in Germany, launching crypto custody back in 20 at the start of 2026. Out in the open, it's marketing it, right? Then we have the Scotiabank. And this one you might not know about, but it's a Spanish wholesale custody bank. So, they have 400 billion euros in assets under custody, and they just launched Bitcoin custody services.

So, let's look at it geographically, because now we have Spain, France, and Germany, three of the four largest economies in the Eurozone, and every one of them has their biggest banks building in Bitcoin stablecoin infrastructure as fast as they can pour concrete into it, right? So, the ECB has spent six weeks publicly opposing the exact buildout, and the banks she regulates are doing the exact opposite of all this. Let's back this up, right? Because we have Christine Lagarde essentially telling everybody, "No, no, no. Don't put Bitcoin on your balance sheet. Give us a second. We're going to start to build out our own stablecoin presence, and that's what we're going to do. Everybody just follow the lead of the ECB." All the banks looked at it and said, "No. We're going to be decentralized here, because we are the European Union. We're a bunch of giant economies within under one umbrella, so we're going to get the largest banks of each of these giant countries getting together and make a euro stablecoin. And we're not going to wait around for the ECB and Christine Lagarde to tell us what to do, right? So, now we're starting to see how this snowball effect is starting to play out, because Christine Lagarde is really looking at trying to control this entire industry just globally. And because she's putting handcuffs on everybody, we're seeing that the banks are saying, "Hey, you know what? We got to get on board, or we're going to get left behind." And that's what they're doing. They're building their own euro stablecoin, and they're looking at these Bitcoin rails and all these different clients across the United States and the other biggest banks across the world offering these, and they're worried about the potential of losing some of these clients.

Now, we get to the part of the story that has not been covered properly covered properly by anywhere in Europe because the French political party introduced a bill that would make France the largest sovereign Bitcoin holder in the EU by any order of magnitude. So, this is actually huge, but granted it is a small party. It's the UDR. It's led by Eric Ciotti. Hopefully, I said that correctly. And the bill is a national Bitcoin strategic reserve for France. The target is the part where it gets serious because they're looking at 420,000 Bitcoin over 7 to 8 years. 2% of the entire Bitcoin supply that will ever exist all in France. France is one of the three largest economies on the European Union. So, it's absolutely massive. So, the Ciotti bill says that it'll take the surplus of nuclear power and use it to mine Bitcoin. And it would be funded by the French state operated by a public administrative body. So, listen to this. They're realizing they've got so much excess nuclear energy and they want to use that to mine Bitcoin. It's honestly incredible. So, the bill goes further, right? On top of Bitcoin mining, the French state would commit to public market purchases up to 15 million euros per day. 15 million euros. That's not something to scoff at, folks. That is a huge amount that this government is now honestly planning on buying at least at the very minimum. It's huge. Right? So, France is talking about not only mining Bitcoin heavily, but they're also talking about, "Hey, we want to take this a step further. Not only mine Bitcoin, we want it to drastically increase the amount of supply that we currently have." And I mean, if you look across the board, right, at just some of these governments, none of these governments have actually bought any Bitcoin just yet. All these governments, what have they been doing? They've been confiscating Bitcoin, right? The governmental entities, right, United States has confiscated 328,000, China 190,000, UK, this has also confiscated 61,000. But realistically, right, there's 12 major governments that hold Bitcoin and for some reason we have Roswell, New Mexico on here. But, you know, we've got Venezuela that allegedly has 240 coins. Who knows? There's a secret stash that they've been talking about, the UAE, Bhutan. All of these different places have been talked about having much larger stashes than they actually have.

But the beautiful thing of all of this, what we're seeing right now, right, is >> [clears throat] >> taking it a step further is that Bitcoin didn't just break the European Central Bank. France just told the European Central Bank that the Eurozone's own member states are going to move on to Bitcoin without permission with nuclear energy that would otherwise be wasted. So, it's going to make a balance sheet larger than the United States government's current holdings. So, of course, this bill has not passed yet and it was freshly introduced. But this is beside the point. This is absolutely massive when it comes to this, right? Because as we see more country and nation states actually start to hint into this, most of Europe's Bitcoin firms will fail to convert their license, right? That's the reality in this next few 10 days. Cuz remember where I started all of this, right? It was the full MiCA policy, right? We've got 10 days until that goes full on, right? We saw such a dramatic and small amount of institutions that have actually applied for the MiCA realistically get fully compliant. And now we're seeing governments say, "Hey, we want to take a step back. We really want to honestly be wary of where the EU is trying to lead us, right? I mean, where Christine Lagarde is trying to lead all of this, right? The European Union, everybody is worried about how further, right? Because Lagarde has always been anti-Bitcoin. And she's been full control. She's been looking at how she will be a vocal critic, right? Saying that the cryptocurrencies are, quote, "Worth nothing." And now we're going to start to see how these banks are going to really go across it because she said there's been no intrinsic value. She's rejected it as a central bank reserve. She's advocated for the digital euro, but she wasn't able to execute, so now banks are starting to do that. And she's tried to come up with strict global regulation. So now these European banks are saying, "Hey, wait a minute. We're not going to listen to you. We're going to start to take matters into our own hands because we're losing money and we're actually, your inability to make a decision and really go through all of this is actually hurting us, right?

>> [snorts] >> So we just had Prague, which was incredible. So make sure you guys are subscribed to this channel because we're going to start rolling out those talks here over the next 3 to 4 months. Granted, there's 100 videos that we're literally about to put out. We're going to make sure that they're edited, looking good for you guys. So please be patient with us, but if you want to see them and in real time, you should buy your tickets to Prague now. You can use promo code green candle, get the early bird pass because the longer you wait, the more tickets are going to go up, but you can still use my promo code green candle, all one word, and you can get 10% off, and I can see you guys in Prague in 2027. It's one of the best conferences in Bitcoin. It's got some of the greatest talks as you guys are going to see on this channel coming out. And we're going to start to see the way that the European Union is going to really develop in its Bitcoin stance, right? So now, we're going to start to see that, right? And I do appreciate that. Hey, if you guys want to donate 10 Bitcoin for this 'stache, I'm not going to lie to you guys. I got I got this mustache 15 euros for a haircut here in Milan. Not too bad to get a to get all of this, right? Yeah, take it easy right here. Maybe the 'stache is uh, you know, something that I'm going to play with over here, but uh, you know, seeing how we're going to see these French really taking a step further, right? And potentially start to really look at increasing their holdings, right? The more that we're going to see the EU and the MiCA regulations really start to attack how you can get on and off of Bitcoin. That's where you got to be cautious, right? If you guys enjoyed this one, make sure you're smoking that like just for the mustache, all right? I want to see some mustache emojis down in the comments and in the chat. I appreciate you guys. I'm going to start doing these every single Sunday, so be sure to be subscribed. Tell a friend to tell a friend, and I'll see you guys all at the next one.