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Electric cars demand in Europe grows as over 1 million passenger EVs registered in Q1, 2023
April 20, 2023
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(Dinarian Note: As I was reading this, an article in regards to the WEF came to mind, where the goal is less actual ownership of vehicles and more sharing of vehicles. Keep in mind their words, "You will own NOTHING and be HAPPY". Here is a Link to the article. Besides this, the world WILL be having a lithium shortage by 2025. Lithium is needed all EV batteries. They have no intention on everyone owning an EV, but instead sharing them via public transportation. One has to wonder, is mining more lithium, really helping the world go greener? Of coarse not.. The WEF has stated that they want the world free of fossil fuel vehicles by 2030, check out Coltura a WEF supported AGENDA, I mean organization based out of California.)

Europe is rapidly emerging as a hub for electric vehicle (EV) adoption as the region steadily moves towards sustainable and environmentally friendly transportation. The growing trend towards EVs is being driven by a combination of factors, with the number of registered vehicles surging to new milestones. 

In particular, data acquired by Finbold indicates that new electric passenger car registration in Europe for Q1 2023 hit 1,177,637 million. The highest number of registrations, which included those within the European Union, the United Kingdom, and the European Free Trade Association (EU+EFTA+UK), was recorded in March at 494,270. February followed closely with 359,752 registrations, while January saw 323,615 registrations. This indicates a growth of 52.94% in the registered passenger EVs in Europe between January and March.

Among the registered electric cars, Hybrid electric vehicles (HEV) had the highest share, with 667,559 registrations. Battery electric (BEV) vehicles came in second with 320,857 registrations, while Plug-in hybrid electric (PHEV) ranked third with 189,221 registrations.

How Europe became the hotbed of EVs 

The surge in Europe’s adoption of electric vehicles can be tied to a combination of factors, including a climate-conscious populace with high-income levels, strong government support for EVs, and the development of an extensive public-private network for EV charging infrastructure. These supportive factors have created a favorable environment for EVs to thrive in Europe, leading to a significant increase in the number of cars on the road.

The growth has also coincided with a tumultuous period as the region navigates the impact of Russia’s invasion of Ukraine. In the wake of the crisis, Europe grappled with an energy crisis that sent power prices soaring and spurred widespread support for accelerating the transition from fossil fuels. As a result, the demand for EVs has recorded an uptick and is expected to gain momentum in the coming years as the region seeks to permanently address the energy crisis and embrace more sustainable modes of transportation.

Furthermore, the entrance of new players in the market has also played a primary role in EV adoption. For instance, in late 2022, United States-based manufacturer Lucid Motors  (NASDAQ: LCIDstarted delivering its electric luxury sedan Air in Europe. The first units targeted customers in Germany and the Netherlands. At the same time, NIO (NYSE: NIO) is also establishing its foothold in the region, hoping to leverage the growing demand. 

While the European EV market is experiencing rapid growth, not all manufacturers are convinced of its potential. One such example is Rivian Automotive (NASDAQ: RIVN), which had initially announced plans to partner with Mercedes-Benz Vans to serve the European market. However, the company ultimately decided to pull out of the partnership and focus instead on the American market. This decision highlights the challenges some manufacturers may face in adapting to the unique demands and regulations of the European market.

As new players enter the European market, longstanding manufacturers are scrambling to defend their positions. One of these players is Tesla (NASDAQ: TSLA), the American electric vehicle giant, which has taken proactive measures to hasten the shift to sustainable energy. To this end, Tesla has announced a series of price reductions for its European customers. The company previously hinted that these cuts are just the beginning, as it seeks to stimulate demand and cement its place in the region. Similarly, XPeng (NYSE: XPEV) has lowered its prices while rolling out new EV models in Europe

Europe’s EV sector resilience 

Notably, the rising number of registered electric vehicles in Europe underscores the sector’s resilience, particularly in light of the economic downturn the region is currently facing. The soaring inflation has impacted both consumers and manufacturers, and the resulting volatility has contributed to cases of unemployment, which is likely to affect consumers’ ability to invest in new technologies as they focus on essentials. 

While the electric vehicle sector in Europe has achieved impressive gains, it is essential to note that it still faces significant challenges and has yet to become a ubiquitous phenomenon across the region. One such challenge is the issue of affordability, as high EV costs continue to dissuade budget-conscious buyers from investing in these vehicles. In addition, the need for sufficient charging infrastructure remains a hurdle that must be overcome for EVs to become a more practical and convenient option for consumers

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Musk Turns On Starlink to Save Iranians from Regime’s Internet Crackdown

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This move comes on the heels of Israeli strikes targeting Iran’s nuclear facilities, as the Islamic Republic cuts off online access.

The former Department of Government Efficiency chief activated Starlink satellite internet service for Iranians on Saturday following the Islamic Republic's decision to impose nationwide internet restrictions.

As the Jerusalem Post reports, that the Islamic Republic’s Communications Ministry announced the move, stating, "In view of the special conditions of the country, temporary restrictions have been imposed on the country’s internet."

This action followed a series of Israeli attacks on Iranian targets.

Starlink, a SpaceX-developed satellite constellation, provides high-speed internet to regions with limited connectivity, such as remote areas or conflict zones.

Elizabeth MacDonald, a Fox News contributor, highlighted its impact, noting, "Elon Musk turning on Starlink for Iran in 2022 was a game changer. Starlink connects directly to SpaceX satellites, bypassing Iran’s ground infrastructure. That means even during government-imposed shutdowns or censorship, users can still get online, and reportedly more than 100,000 inside Iran are doing that."

During the 2022 "Woman, Life, Freedom" protests, Starlink enabled Iranians to communicate and share footage globally despite network blackouts," she added.

MacDonald also mentioned ongoing tests of "direct-to-cell" capabilities, which could allow smartphone connections without a dish, potentially expanding access and supporting free expression and protest coordination.

Musk confirmed the activation, noting on Saturday, "The beams are on."

This follows the regime’s internet shutdowns, which were triggered by Israeli military actions.

Adding to the tension, Israeli Prime Minister Benjamin Netanyahu addressed the Iranian people on Friday, urging resistance against the regime.

"Israel's fight is not against the Iranian people. Our fight is against the murderous Islamic regime that oppresses and impoverishes you,” he said.

Meanwhile, Reza Pahlavi, the exiled son of Iran’s last monarch, called on military and security forces to abandon the regime, accusing Supreme Leader Ayatollah Ali Khamenei in a Persian-language social media post of forcing Iranians into an unwanted war.

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In the wake of hurricanes and earthquakes, Starlink has provided critical internet access to affected communities, enabling emergency communications and coordination.

Similarly, during the Ukraine-Russia conflict, Musk activated Starlink to support Ukrainian forces and civilians, ensuring they could maintain contact and access vital information under dire circumstances.

The genius entrepreneur, is throwing a lifeline to the oppressed in Iran, and the libs can’t stand it.

Conservative talk show host Mark Levin praised Musk’s action, reposting a message stating that Starlink would "reconnect the Iranian people with the internet and put the final nail in the coffin of the Iranian regime."

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GENIUS Act lets State banks conduct some business nationwide. Regulators object

The Senate passed the GENIUS Act for stablecoins last week, but significant work remains before it becomes law. The House has a different bill, the STABLE Act, with notable differences that must be reconciled. State banking regulators have raised strong objections to a provision in the GENIUS Act that would allow state banks to operate nationwide without authorization from host states or a federal regulator.

The controversial clause permits a state bank with a regulated stablecoin subsidiary to provide money transmitter and custodial services in any other state. While host states can impose consumer protection laws, they cannot require the usual authorization and oversight typically needed for out-of-state banking operations.

The Conference of State Bank Supervisors welcomed some changes in the GENIUS Act but remains adamantly opposed to this particular provision. In a statement, CSBS said:

“Critical changes must be made during House consideration of the legislation to prevent unintended consequences and further mitigate financial stability risks. CSBS remains concerned with the dramatic and unsupported expansion of the authority of uninsured banks to conduct money transmission or custody activities nationwide without the approval or oversight of host state supervisors (Sec. 16(d)).”

The National Conference of State Legislatures expressed similar concerns in early June, stating:

“We urge you to oppose Section 16(d) and support state authority to regulate financial services in a manner that reflects local conditions, priorities and risk tolerances. Preserving the dual banking system and respecting state autonomy is essential to the safety, soundness and diversity of our nation’s financial sector.”

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Originally, the provision applied only to special bank charters like Wyoming’s Special Purpose Depository Institutions or Connecticut’s Innovation Banks. Examples include crypto-focused Custodia Bank and crypto exchange Kraken in Wyoming, plus traditional finance player Fnality US in Connecticut. Recently the scope was expanded to cover most state chartered banks with stablecoin subsidiaries, possibly due to concerns about competitive advantages.

Simultaneously, the clause was substantially tightened. The initial version allowed state chartered banks to provide money transmission and custody services nationwide for any type of asset, which would include cryptocurrencies. Now these activities can only be conducted by the stablecoin subsidiary, and while Section 16(d) doesn’t explicitly limit services to stablecoins, the GENIUS Act currently restricts issuers to stablecoin related activities.

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Is it that bad?

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The controversy over Section 16(d) reflects concerns about creating a regulatory gap that allows banks to operate interstate without the oversight typically required from either federal or state authorities. As the two Congressional chambers work toward reconciliation, lawmakers must decide whether stablecoin legislation should include provisions that effectively reduce traditional banking oversight requirements.

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If you find value in my content, consider showing your support via:

💳 PayPal: 
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Dubai regulator VARA classifies RWA issuance as licensed activity
Virtual Asset Regulatory Authority (VARA) leads global regulatory framework - makes RWA issuance licensed activity in Dubai.

Real-world assets (RWAs) issuance is now licensed activity in Dubai.

~ Actual law.
~ Not a legal gray zone.
~ Not a whitepaper fantasy.

RWA issuance and listing on secondary markets is defined under binding crypto regulation.

It’s execution by Dubai.

Irina Heaver explained:

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This closes the gap that killed STOs in 2018.

No more tokenization without venues.
No more assets without liquidity.

UAE is doing what Switzerland, Singapore, and Europe still haven’t:

Creating enforceable frameworks for RWA tokenization that actually work.

Matthew White, CEO of VARA, said it perfectly:

“Tokenization will redefine global finance in 2025.”

He’s not exaggerating.

$500B+ market predicted next year.

And the UAE just gave it legal rails.

~Real estate.
~Private credit.
~Shariah-compliant products.

Everything is in play.

This is how you turn hype into infrastructure.

What Dubai is doing now is 3 years ahead of everyone else.

Founders, investors, ecosystem builders:

You want to build real-world assets onchain.

Don’t waste another year waiting for clarity.

Come to Dubai.

It’s already here.

 

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🙏 Donations Accepted 🙏

If you find value in my content, consider showing your support via:

💳 PayPal: 
1) Simply scan the QR code below 📲
2) or visit https://www.paypal.me/thedinarian

🔗 Crypto – Support via Coinbase Wallet to: [email protected]

Or Buy me a coffee: https://buymeacoffee.com/thedinarian

Your generosity keeps this mission alive, for all! Namasté 🙏 Crypto Michael ⚡  The Dinarian

 

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