The SEC’s so-called "protection" of retail investors has done more harm than good, forcing speculation rather than allowing utility tokens to function as intended. But with the SEC’s tactics now under scrutiny and long-awaited regulatory clarity emerging, the game is changing.

That’s why I just made a video diving deep into the great-grandfather of all utility tokens: the VERI Token—and speculating the hell out of it. Let’s run some numbers.

Market Cap Comparisons: Where Could VERI Go?

If we apply the market caps of major cryptos to VERI’s ultra-low 2.16 million token supply, we get some jaw-dropping figures:

• XRP Market Cap / VERI Supply
  $150,685,407,710 ÷ 2,160,000 = $55,695.40 per VERI
• ETH Market Cap / VERI Supply
  $265,678,224,163 ÷ 2,160,000 = $104,732.50 per VERI
• BTC Market Cap / VERI Supply
  $1,764,865,971,748 ÷ 2,160,000 = $752,952.91 per VERI

What Could Send VERI Parabolic?

If the SEC case is vacated, VERI—backed by 2.16 million tokens and Veritaseum’s patents—could become a prepaid fee token for:

✅ VeADIR (Decentralized AI-driven investment research)
✅ VeRent (Tokenized asset rental and lending)
✅ VeTokenization (Asset tokenization across multiple sectors)
✅ VeResearch (On-chain research monetization)

But it gets better.

The PTAB’s rejection of Coinbase’s IPR, combined with ETH/SOL infringement claims and the PPE White Paper, could force BTC, ETH, XRP, and ADA into licensing agreements—potentially pushing VERI into the $6,000–$150,000 range.

And if VeriDAO’s massive $1.6 quadrillion asset tokenization vision takes off? We could be looking at $740,000–$740 million per VERI.

Now, these are just speculative price points, but the numbers highlight one thing: VERI’s upside potential is insane if adoption and legal clarity align.

If the SEC case is vacated, VERI—tied to 2.16 million tokens and Veritaseum’s patents—could soar as a prepaid fee token for VeADIR, VeRent, VeTokenization, and VeResearch.

The Bottom Line

The setup is primed. Success hinges on three key factors:

1️⃣ Legal victories over regulatory hurdles
2️⃣ Adoption of Veritaseum’s technology and patents
3️⃣ Traction of the prepaid fee model in the tokenization space

If these pieces fall into place, VERI could be one of the biggest sleepers in the crypto market.

Are you watching this play unfold? 🚀

Success hinges on legal victories, adoption, and the prepaid model’s traction, but the setup is primed for a breakout.

Original Post by @SovereignRiz

Last week Japan’s Financial Services Agency disclosed that a new Bill has been submitted to the National Diet to update the Payment Services Act, the legislation that governs stablecoins and cryptocurrencies.

The key changes relating to stablecoins and crypto include:

• More diversity in stablecoin reserves for trust-style stablecoins
• The ability to order exchanges to provide onshore custody of all spot crypto and stablecoins for the purposes of bankruptcy protections
• Creating a new kind of intermediary that acts as a broker, introducing clients to crypto exchanges.

Stablecoin reserves can include government bonds

The existing version of the Payment Services Act supports the issuance of stablecoins by three types of institutions: banks, money transfer businesses and trust companies. While stablecoins are still extremely nascent in Japan, it’s expected that trust companies are likely to be the most prolific as they support issuance on behalf of third parties and are similar to structures used elsewhere. For example, Mitsubishi UFJ Trust had discussions about working with Binance for stablecoin issuance.

Current legislation requires trust company stablecoins to keep all reserves in demand deposits at banks. The Bill allows up to 50% of reserves to be held in term deposits and/or government bonds, provided the one-to-one backing is maintained.

Crypto custody in Japan

Japan was the host of the first big cryptocurrency exchange collapse – Mount Gox in 2024. Hence, when FTX went bankrupt in 2022, users of FTX Japan were not impacted by the foreign bankruptcy proceedings. However, the reason was because FTX provided derivatives trading and regulators had issued an order requiring it to hold all client assets in Japan. If a cryptocurrency exchange only deals in spot transactions, the regulator could not make such an order. Hence, regulators want the law changed, so domestic custody orders can be made for spot (only) crypto exchanges.

New type of crypto broker intermediary

Currently in Japan, if a broker introduces clients to a cryptocurrency exchange, the broker is expected to register as an exchange themselves. The Bill aims to create a new class of intermediary for introducers that do not operate an exchange. Like exchanges, they will be responsible for asset and risk disclosures to clients. Crypto advertising restrictions will also apply.

However, they will not hold client funds, so will not be subject to capital requirements. Given the exchanges have to conduct anti money laundering compliance on all clients, the intermediary won’t need to. This new intermediary role also applies if some is an introducer for stablecoins.

As a sign of how nascent stablecoins are in Japan, crypto exchange SBI VC Trade recently landed the first license in Japan as an “Electronic Payment Instruments Exchange Service Provider”. This is required to deal with foreign stablecoins, allowing SBI VC Trade to support USDC.

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Swiss stock exchange group SIX released its 2024 results today. New CEO Bjørn Sibbern announced a three year program, Scale Up 2027, which aims to improve growth and margins. It will see 150 people lose their jobs, some of them through attrition. Plus, as part of the push, it plans to merge the blockchain-based SIX Digital Exchange (SDX) into its Securities Services business unit.

It portrayed this as a growth initiative, saying that SDX’s technology will now be rolled out across the group. SIX wants to “capitalize on synergies and fully leverage the potential of SDX as part of the broader SIX ecosystem.”

The SIX Digital Exchange was the first regulated secondary market for digital securities in the world, one of several world firsts. The exchange is also the first to host a production wholesale central bank digital currency (wCBDC), although technically the Swiss National Bank’s wCBDC is part of an extended two year pilot of Project Helvetia. SDX also holds a license as a central securities depository (CSD).

Since its launch SDX has hosted the issuance of more than CHF 1.5 billion in digital bonds. Today’s report says SDX has 14 members across its digital securities and web3 / crypto services, with at least nine more committed to join.

The digital CSD is already integrated with the conventional CSD in order to allow issuances to list on the main exchange and for investors to engage without needing to touch blockchains. However, today’s announcement talks about “synergies from shared infrastructure.”

Integration – returning to the original plan

In many ways SDX is now coming full circle. Its first CEO, Martin Halblaub, resigned in 2019 over strategic differences. He wanted SDX to be more independent, but the strategy at the time was to be more integrated. He was replaced by Tim Grant who lasted about 17 months, before State Street veteran, the inimitable David Newns, stepped in for the 2021 launch and has provided continuity since.

While these changes represent the stamp of a new SIX CEO, there are likely more to come. Javier Hernani, the former CEO of SIX-owned BME and Head of SIX Securities Services, departed in early February and has not yet been replaced. Any new head of SIX Securities Services will likely set a new agenda.

Meanwhile, SIX reported a net profit of CHF 38.7 million for 2024 after writing off CHF 167.7 million relating to the valuation of its holdings in Worldline. Before that adjustment (and tax), net profit would have been CHF 204.4 million, an increase of 12.3%.

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