South Korea’s financial regulator has moved to rein in risky lending practices in the digital asset sector, ordering local exchanges to suspend all crypto lending services until a proper regulatory framework is established. Key Takeaways: FSC halts crypto lending as South Korean exchanges must suspend services until formal rules are introduced. Investor risks exposed with…
India’s top tax authority has raised several questions to local crypto players whether India needs a new digital assets law. The Central Board of Direct Taxes (CBDT) has also inquired whether the 1% tax-deducted-at-source (TDS) on every sale is excessive. Per a report by The Economic Times, the tax body has requested that crypto platforms…
The U.S. Federal Reserve has announced that it will dismantle its “Novel Activities Supervision Program,” a regulatory initiative launched in 2023 to more closely oversee banks’ involvement in cryptocurrencies, stablecoins, and other emerging financial technologies. The move comes amid political pressure and growing criticism from pro-crypto lawmakers, with some framing the program as part of…
The past week in U.S. crypto regulation has been anything but quiet. A flurry of political pressure, legislative proposals, policy shifts, and industry positioning has kept the sector’s stakeholders on their toes. From the halls of Congress to state legislatures to the SEC’s policy desk, these developments reveal just how fragmented and fast-moving America’s crypto…
New York Assembly Member Phil Steck has introduced legislation imposing a 0.2% excise tax on all digital asset transactions, including crypto and NFT sales or transfers. According to the bill filing, the proceeds will be earmarked for expanding substance abuse prevention programs in upstate schools. Source: NYAssembly State Revenue Generation Targets Growing Digital Asset Sector…
U.S. Senator Elizabeth Warren has intensified her campaign for more stringent crypto regulations, cautioning that the existing regulatory framework creates opportunities for corruption, especially involving high-profile figures such as President Trump, with consequences that could “blow up” the American economy. During an MSNBC interview on August 11, Warren raised an alarm that the current state…
This week marked further progress in the U.S. crypto regulation environment, with President Donald Trump’s administration making moves in favor of digital assets and the Securities and Exchange Commission (SEC) clarifying the legality of liquid staking products. Trump Pushes for Crypto in 401(k) Retirement Accounts President Trump on Thursday signed an executive order that could…
The National Bank of Ukraine (NBU) Governor Andriy Pyshnyy has outlined some of the prerequisites of crypto legalization, adding that, however, the asset class cannot become a means of payment in the nation. In an interview with RBC-Ukraine, he called the use of crypto as a legal tender a “red line” for the NBU. “Virtual…
United States President Donald Trump’s Working Group on Digital Asset Markets recently released its long-awaited crypto report. The document, which was made publicly available on July 30, outlines policy recommendations for regulating crypto in the U.S. The report includes recommendations on crypto market structure, jurisdictional oversight, banking regulations, promoting U.S. dollar hegemony through stablecoins, and…
SEC Commissioner Hester Peirce delivered a forceful defense of financial privacy rights on August 4, arguing that Americans should retain the ability to use privacy-protecting crypto technologies without government surveillance. Her remarks at Stanford’s Science of Blockchain Conference come as Tornado Cash co-founder Roman Storm faces criminal trial for allegedly facilitating $1 billion in illicit…