Hong Kong has officially passed the Stablecoins Bill, marking a significant step forward in the regulation of digital assets. The legislation mandates that any company issuing fiat-backed stablecoins, particularly those pegged to the Hong Kong dollar or operating within Hong Kong’s jurisdiction, must now obtain a license from the Hong
The Financial Services Commission of South Korea will make it compulsory for non-profit organizations and crypto exchanges to comply with a firm customer verification process from June. The official release of FSC states that these bodies will be permitted to sell virtual assets under new laws. Nonprofits are permitted to
At the recent SEC Speaks event, US SEC Commissioner Hester Peirce, also known as the Crypto Mom, made a bold and clarifying statement: most crypto assets should not be considered securities. Peirce, who leads the agency’s Crypto Task Force, stressed that regulatory clarity is essential as the crypto space continues
Stablecoin regulation has gained momentum after President Donald Trump stressed its importance several times. The President and other government officials, such as David Sacks, believe that US Dollar-backed stablecoins hold the potential to increase dollar dominance across the globe. Taking things forward, the US Senate advanced the long-awaited GENIUS Act
Brazil is accelerating its cryptocurrency regulatory framework, positioning itself ahead of the United States. According to a report by The Defiant, the Central Bank of Brazil (BCB) has enforced strict rules to tackle stablecoin transfers to increase security and management. These rules limit the movement to self-custody wallets, particularly the
The Democratic Party of South Korea revealed a Digital Asset Committee on May 13. The Committee will be dedicated to bringing crypto regulation directly to the office of the next president. On the same day, the committee held its first meeting at the National Assembly Members’ Hall in Seoul. Also,
Newly appointed SEC Chair Paul Atkins addressed the public. Atkins praised pro-crypto work and criticised past policies. He slammed former Chair Gary Gensler’s crypto approach. “Innovation has been stifled by regulatory uncertainty,” he said. Atkins spoke at the SEC’s third crypto roundtable today. The event focused on crypto custody and
Last week, the former chairman of the U.S Securities and Exchange Commission gave an interview to CNBC in which he bluntly assessed the crypto market. He questioned the long-term potential of most virtual assets and also separated Bitcoin (BTC) from the remaining crypto sphere. As per Gensler, the crypto ecosystem
The Ministry of Finance, Slovenia is looking to impose a probable 25% tax on crypto trading profits for its citizens as per the new draft law. As per the bill, the tax will be imposed on selling cryptocurrency for Fiat or pay for goods and services. However, no tax will
In the last 24 hours, the crypto regulatory sector has seen significant action. On March 25, several US states saw crypto investments and reserve bills pass through the Senate. Meanwhile, the market has witnessed a modest upsurge, with the largest cryptocurrency, Bitcoin, progressing to $87,000. On the other hand, the
