Bitcoin News Today: Regulators Quietly Back Bitcoin as CBDCs Fade

Changpeng "CZ" Zhao, former CEO of Binance, has reiterated his belief that Bitcoin is positioned to become a global reserve currency, aligning with broader market trends and regulatory developments. This statement builds on his recent critique of central bank digital currencies (CBDCs), which he described as outdated compared to the growing adoption of stablecoins. Zhao’s remarks reflect a shift in the cryptocurrency landscape, where private-backed stablecoins are increasingly favored over state-issued digital assets due to their perceived practicality and global traction [2].

The growing influence of stablecoins is underscored by significant policy shifts in key jurisdictions. In the United States, the passage of the GENIUS Act in 2025 signaled legislative support for stablecoin adoption, reinforcing the shift away from CBDCs. Similarly, Hong Kong’s Stablecoin Ordinance has further solidified its status as a regulatory-friendly hub for digital assets. These developments indicate that governments are increasingly prioritizing frameworks that accommodate private-sector innovation rather than pursuing their own digital currency initiatives [2].

Bitcoin’s trajectory toward becoming a global reserve currency is also being supported by institutional adoption and regulatory clarity in major financial centers. The Asia-Pacific region, in particular, is witnessing rapid growth in cryptocurrency ownership and investment. Hong Kong, as a pivotal player, has taken significant steps to integrate Bitcoin into its financial framework. The approval of spot Bitcoin and Ethereum ETFs in 2024 has attracted institutional capital and set a precedent for broader adoption. Additionally, the city’s regulatory environment is becoming increasingly accommodating, as evidenced by its pilot programs for digital assets and Web3 technologies [4].

Bitcoin’s growing institutional appeal is further reflected in the performance of Bitcoin spot ETFs, which have attracted substantial net inflows. According to recent data, Bitcoin spot ETFs recorded a total net inflow of $179 million, with BlackRock’s IBIT and Ark Invest’s ARKB leading the way. These funds have cumulatively drawn in over $58 billion in assets, indicating strong investor confidence in Bitcoin’s long-term viability as a store of value [3].

The global adoption of Bitcoin is also being driven by the emergence of crypto-friendly jurisdictions, all of which share a common trait: low or no capital gains taxes on cryptocurrency transactions. The UAE, Singapore, Switzerland, and Gibraltar have all implemented favorable regulatory environments to attract blockchain innovation and investment. These regions are creating ecosystems that balance regulatory oversight with market flexibility, fostering growth in both retail and institutional participation [5].

Zhao’s vision of Bitcoin as a global reserve currency is further supported by its increasing use in cross-border transactions and remittances. In regions with unstable fiat currencies, Bitcoin is being adopted as a hedge against inflation and a means of facilitating seamless international payments. This trend is particularly evident in Asia, where digital currencies are gaining traction among both consumers and businesses. As regulatory frameworks continue to evolve and institutional adoption accelerates, the path for Bitcoin to achieve global reserve status is becoming increasingly plausible [2].

Source:

[1] title1 (https://finance.yahoo.com/news/end-sight-czech-government-45m-105729564.html)

[2] title2 (https://coincentral.com/cz-declares-cbdcs-outdated-as-stablecoins-dominate-global-focus/)

[3] title3 (https://www.chaincatcher.com/en/article/2201764)

[4] title4 (https://cointelegraph.com/press-releases/bitcoin-asia-2025-takes-over-hong-kong-next-week-as-the-largest-of-its-kind-in-asia)

[5] title5 (https://cointelegraph.com/magazine/the-one-thing-these-6-global-crypto-hubs-all-have-in-common/)