Regulatory Policy

Focuses on global regulatory developments, policy changes, and compliance requirements. It provides in-depth analysis of government regulations and their impact on the cryptocurrency and blockchain industries, helping businesses and investors proactively manage policy-related risks.

Web3 Entrepreneurship in Mainland China: What Can and Cannot Be Done?

Summary: Under China's current legal and regulatory framework, Web3 entrepreneurship is possible but must avoid activities related to issuing tokens, speculative trading, fundraising, or operating exchanges. The article outlines four viable paths: 1. **Pure Technology & Infrastructure**: Developing blockchain as a distributed database or collaborative tool for enterprises and governments, focusing on data verification, supply chain coordination, and judicial record-keeping without financial incentives. 2. **De-Financialized Digital Assets**: Creating non-fungible tokens (NFTs) as digital collectibles, membership passes, or copyright certificates—emphasizing utility over investment value and avoiding secondary market trading. 3. **Compliance & Risk Management Services**: Providing legal, regulatory, and analytical support for Web3 projects, including anti-money laundering measures and chain monitoring, which are increasingly essential as regulations evolve. 4. **Overseas-Centric Operations with Domestic Support**: Structuring projects so that technical development, research, and backend services are handled in mainland China, while financial aspects (e.g., token issuance, trading) are managed by compliant entities abroad. The author stresses that success depends on treating Web3 as a tool rather than a financial instrument, avoiding public promotions of crypto investments, and ensuring clear legal boundaries to sustain long-term operations.

marsbit12/26 07:15

Web3 Entrepreneurship in Mainland China: What Can and Cannot Be Done?

marsbit12/26 07:15

Hong Kong tightens crypto rules for dealers and custodians – Details

Hong Kong has introduced a new licensing regime for virtual asset dealers and custodians, completing a key part of its regulatory framework. The rules, modeled on existing securities standards, require strict compliance for handling private keys and executing trades. This move aims to attract institutional investors by ensuring high levels of security and oversight across the ecosystem. The city encourages early engagement with regulators through pre-application discussions. Further regulations for advisors and asset managers are underway. Officials emphasize the framework balances innovation, risk management, and investor protection. Similar regulatory developments are occurring globally, including in Europe and Russia, signaling a broader shift toward a licensed and supervised crypto industry.

ambcrypto12/25 19:28

Hong Kong tightens crypto rules for dealers and custodians – Details

ambcrypto12/25 19:28

Dogecoin's 2025 Review: DOGE's Path to Politicization and Commercialization

In 2025, Dogecoin (DOGE) found itself at the center of political controversy and corporate adoption, yet its price declined significantly throughout the year. Elon Musk’s U.S. Department of Government Efficiency (DOGE) briefly boosted the meme coin’s value by associating it with federal policy, but legal challenges and operational missteps caused the initiative to fade. Despite growing institutional interest—including corporate treasuries, investment funds, and ETF launches—DOGE failed to reach new all-time highs. By December, it had erased all yearly gains, falling roughly 65% over 12 months. Major developments included the launch of several DOGE-focused ETFs and the creation of "House of Doge" by the Dogecoin Foundation to promote commercial adoption. Multiple public companies pivoted to hold DOGE in their treasuries, and one even acquired a European football club to promote the brand. However, these efforts did not translate into sustained price appreciation. The community has since shifted focus toward utility and real-world adoption, rather than speculation, looking ahead to 2026 for potential growth.

marsbit12/25 16:22

Dogecoin's 2025 Review: DOGE's Path to Politicization and Commercialization

marsbit12/25 16:22

Will the United States Use Encryption Technology to Resolve the 37 Trillion Dollar Debt Crisis?

The article explores the United States' potential use of cryptocurrency and stablecoins to manage its $37 trillion national debt, as suggested by a senior advisor to Russian President Putin. The core idea is that the U.S. could leverage its control over the global reserve currency to "export" inflation and effectively devalue its debt through digital asset systems, forcing other nations to bear the cost. This would not involve direct default but rather a strategic devaluation via monetary expansion, a historically common tactic. Stablecoins, backed by U.S. Treasury assets, could distribute this debt globally. As adoption grows, losses from dollar inflation would be shared by all stablecoin holders worldwide, not just U.S. citizens. This system offers the control of a central bank digital currency (CBDC) without the political baggage. However, trust remains a critical issue: stablecoin reserves cannot be fully independently audited, and the U.S. could unilaterally change rules, as it did when decoupling the dollar from gold in 1971. While a direct government move—like selling gold to buy Bitcoin, as proposed by MicroStrategy’s Michael Saylor—is unlikely, the U.S. may instead allow private companies to lead the adoption. Firms like MicroStrategy accumulating Bitcoin could serve as a backdoor for eventual state interest. The article concludes that some form of digital asset strategy to address the debt crisis is probable, though it may unfold gradually and discreetly.

比推12/25 14:48

Will the United States Use Encryption Technology to Resolve the 37 Trillion Dollar Debt Crisis?

比推12/25 14:48

Online vs. Offline CBDCs — The Privacy Battle Dividing the EU

The EU is divided over the design of its proposed digital euro, with a key conflict emerging between online and offline functionality. The Council of the EU supports a hybrid model that includes both online and offline capabilities. In contrast, privacy-focused members of the European Parliament advocate for an offline-only version, arguing it offers stronger, cash-like privacy by enabling peer-to-peer transactions without centralized tracking. They warn that an online system could allow excessive surveillance of consumer spending. The European Central Bank and European Commission favor the hybrid approach but face opposition from data protection authorities concerned about data minimization. With negotiations set for 2026, the outcome will determine the balance between privacy and functionality in the EU's digital currency.

ccn.com12/25 11:10

Online vs. Offline CBDCs — The Privacy Battle Dividing the EU

ccn.com12/25 11:10

Countdown to the Midterm Elections: Can the U.S. Crypto Bill Pass?

The next year is critical for U.S. cryptocurrency legislation, with advocates estimating a 50-60% chance of a comprehensive digital asset regulatory bill becoming law by 2026. Bipartisan discussions are ongoing, but several contentious issues remain. Key challenges include regulatory jurisdiction between the SEC and CFTC, the treatment of interest-bearing stablecoins (a point of tension between banks and crypto firms), DeFi regulation, and concerns over anti-money laundering protocols. Additionally, former President Donald Trump’s financial interests in crypto have raised ethical questions. The CFTC also faces significant commissioner vacancies, complicating its expanded role. Legislative progress is under pressure due to the upcoming midterm elections. The Senate Banking and Agriculture Committees are working to merge competing bills, which must then align with the House’s recently passed legislation. If the Senate fails to advance the bill by January, prospects dim as election priorities take over. Despite obstacles, regulatory clarity is seen as essential for broader crypto adoption and institutional involvement.

marsbit12/25 10:47

Countdown to the Midterm Elections: Can the U.S. Crypto Bill Pass?

marsbit12/25 10:47

Russia's Crypto 'Thaw' Moment: Central Bank Announces New Regulations, to Launch 'Walled Garden' in 2026

Russia's Central Bank has unveiled a new regulatory framework on December 24, 2025, aiming to legalize and regulate cryptocurrency transactions for individuals and institutions by July 2026. This marks a significant shift from the country's previously ambiguous stance toward a structured, state-controlled approach to crypto assets. The policy evolution, which began in 2020 with the Digital Financial Assets Act, has transitioned from strict prohibition to experimental openness, culminating in comprehensive regulation. Key measures include allowing retail investors to purchase up to 30,000 rubles (approx. $3,800) worth of crypto annually per platform after passing a risk-awareness test, while qualified investors face no limits. Privacy coins remain banned, and residents are permitted to transfer crypto from foreign accounts to domestic licensed platforms—a reversal from previous capital control policies. The framework integrates crypto services into Russia’s existing financial infrastructure, likely dominated by major banks like Sberbank and VTB, and supports the development of a state-backed digital payment system. The move is seen as a strategic effort to combat capital flight, mitigate Western financial sanctions, and advance de-dollarization goals within the BRICS bloc. This "walled garden" model reflects Russia’s attempt to harness crypto for sovereign financial interests while managing risks.

marsbit12/25 07:12

Russia's Crypto 'Thaw' Moment: Central Bank Announces New Regulations, to Launch 'Walled Garden' in 2026

marsbit12/25 07:12

Despite a Challenging 2025 Crypto Market, These 12 Players Emerge as Winners

The crypto market faced challenges in 2025, but key winners emerged as the industry gained regulatory clarity and shifted from speculation to financial infrastructure. Major developments include pro-crypto U.S. policies under Trump, including the GENIUS Act and Bitcoin reserve directives. Spot ETFs, led by IBIT, gained massive inflows, with Ethereum, Solana, and XRP ETFs approved. Solana solidified its role as a global liquidity layer, while Ripple resolved its SEC lawsuit and expanded into institutional payments. Real-World Assets (RWA) grew significantly, with tokenization exceeding $20 billion. Stablecoin market cap hit $300 billion, supported by clear regulations. Hong Kong became a top ETP hub, and Base emerged as a key platform for consumer apps. Zcash advanced privacy coin legitimacy, perpetual DEXs gained market share, and prediction markets saw record growth. Early crypto adopters were ultimately validated as institutions like BlackRock entered the space.

marsbit12/25 05:07

Despite a Challenging 2025 Crypto Market, These 12 Players Emerge as Winners

marsbit12/25 05:07

RWA Utility Tokens, Stop Kidding Yourselves

The article, written by lawyer Shao Jiadian, critically examines the common claim by RWA (Real World Asset) token projects that their tokens are "utility tokens" rather than securities. The author argues that regulatory bodies globally do not classify assets based on their self-proclaimed labels but on their actual economic function and structure. The core argument is that most so-called "utility RWA tokens" involve users investing money into a common asset pool managed by the project, with the expectation of profits derived from the project's efforts (e.g., dividends, revenue sharing from assets like real estate or equipment). This structure meets the criteria of an "investment contract" and is therefore treated as a security in major jurisdictions like the U.S., EU, Switzerland, and Hong Kong. Two key legal cases are cited as evidence: 1. **DeFiMoney Market (DMM):** Its fixed-yield token and "governance" token were both deemed securities by the SEC because investors' profits came from a managed asset pool. 2. **Unicoin (2025):** An asset-backed token promising returns from real estate and equity was charged by the SEC as an unregistered securities offering and fraud. The author highlights an inherent conflict: utility tokens emphasize *use* and *consumption*, while RWA tokens are fundamentally linked to *assets* and *returns*. Any token offering profit-sharing, dividends, or redeemable cash flows will be viewed as a security by regulators. The conclusion is stark: projects are not avoiding securities laws out of ignorance but to circumvent the stricter requirements of a regulated securities offering. The only viable paths to avoid securities classification are: 1. Purely functional tokens with no profit expectation. 2. Private offerings strictly for accredited investors. 3. Operating under specific regimes like Dubai's VARA that regulate security-like tokens as virtual assets. Ultimately, any RWA token offered to the public that is tradable and promises returns will almost certainly be treated as a security. The choice for projects is not between utility and security labels, but between "long-term compliance" and "short-term gambling."

marsbit12/25 03:13

RWA Utility Tokens, Stop Kidding Yourselves