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.

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

marsbit12/25 03:13

Powell Becomes Most Popular High-Ranking Official, Trump's Approval Rating Nears Historic Low

A new Gallup poll finds Federal Reserve Chair Jerome Powell is the most popular among 13 U.S. leaders, with a 44% job approval rating, surpassing President Trump, whose approval remains near a historic low at 36%. Powell’s approval cuts across party lines, with support from 46% of Democrats, 34% of Republicans, and 49% of independents. In contrast, Trump’s approval shows sharp partisan polarization—89% among Republicans but near zero among Democrats. The survey, conducted December 1–15, reflects broad public dissatisfaction with national leadership, as no figure approached 50% approval. Powell’s popularity comes despite repeated public criticism from Trump over interest rate policy. Trump is expected to nominate a successor before Powell’s term ends in May.

marsbit12/25 03:12

Powell Becomes Most Popular High-Ranking Official, Trump's Approval Rating Nears Historic Low

marsbit12/25 03:12

Powell Becomes Most Popular High-Ranking Official, Trump's Approval Rating Nears Historic Low

A new Gallup poll reveals Federal Reserve Chair Jerome Powell is the most popular among 13 U.S. leaders, with a 44% job approval rating, surpassing former President Donald Trump, whose approval remains near a historic low at 36%. Powell’s approval cuts across party lines, with support from 46% of Democrats, 34% of Republicans, and 49% of independents. In contrast, Trump’s approval shows sharp partisan divides—89% among Republicans but near zero among Democrats. The survey, conducted in early December, highlights public dissatisfaction with national leadership, as no figure approached 50% approval. Powell’s popularity persists despite repeated public criticism from Trump over interest rate policies. Trump is expected to nominate a successor before Powell’s term ends in May.

深潮12/25 03:02

Powell Becomes Most Popular High-Ranking Official, Trump's Approval Rating Nears Historic Low

深潮12/25 03:02

Tiger Research: One Year into the Trump Administration, the Transformation of the U.S. Crypto Industry

Under the Trump administration's second term, the U.S. has aggressively shifted toward pro-cryptocurrency policies, aiming to integrate the industry into the existing financial regulatory framework rather than suppress it. Over the past year, key agencies including the SEC, CFTC, and OCC have implemented significant changes: the SEC moved from enforcement-heavy approaches to creating clearer rules for token classification; the CFTC recognized Bitcoin and Ethereum as commodities and allowed their use as collateral; the OCC granted national trust bank charters to major crypto firms like Circle and Ripple, enabling federal-level operations. Congress passed the GENIUS Act, establishing strict reserve requirements for stablecoins. Despite internal tensions—such as debates over privacy tools like Tornado Cash—the U.S. is advancing a cohesive strategy to absorb crypto into traditional finance, reducing uncertainty while supporting innovation and aiming to position itself as the global center for the industry.

marsbit12/25 02:16

Tiger Research: One Year into the Trump Administration, the Transformation of the U.S. Crypto Industry

marsbit12/25 02:16

Circle 2025 Year in Review: Building a Full-Stack Crypto Economy Platform

Circle's 2025 Year in Review highlights the successful construction of its full-stack encrypted economic platform, driven by key regulatory breakthroughs and global expansion. The passage of the U.S. GENIUS Act and the implementation of the EU’s MiCA framework provided regulatory foundation for full-reserve stablecoins, positioning them as core components of the global financial system. Circle’s strategy revolves around three pillars: trusted digital assets (USDC, EURC, USYC), real-world applications, and the Arc blockchain. USDC’s market cap grew 75% to $77B, EURC surged 328%, and USYC reached $1.54B in AUM. Major institutional partnerships were formed with ICE, Deutsche Börse, Finastra, FIS, and others, integrating stablecoins into payments, clearing, and treasury management. The Circle Payments Network (CPN) enabled real-time cross-border transactions, while StableFX reformed foreign exchange with on-chain settlement. The company also advanced AI agent payments and launched the Arc blockchain—an EVM-compatible L1 designed for real-world economic activity, which saw strong institutional interest during its testnet phase. Circle expanded financial inclusion through initiatives like its partnership with Nubank, serving 127M users in Latin America, and its “1% Pledge” program supporting普惠金融globally. The report concludes that 2025 marked a turning point in the transition toward an open, programmable, and internet-native financial system.

深潮12/25 01:54

Circle 2025 Year in Review: Building a Full-Stack Crypto Economy Platform

深潮12/25 01:54

Russia’s Top Stock Exchanges Gear Up To Support Crypto Trading Under New Framework

Russia's top stock exchanges, Moscow Exchange (MOEX) and SPB Exchange, have expressed support for the Central Bank of Russia's (CBR) new regulatory framework for cryptocurrencies. They are prepared to launch crypto trading services as soon as the regulations are enacted, leveraging their existing infrastructure and expertise. The proposed rules, expected by July 2026, will allow retail investors to purchase up to 300,000 rubles (approx. $3,800) annually in liquid digital assets after passing a knowledge test, while qualified investors can trade unlimited amounts after a risk-awareness test. Transactions must occur through licensed platforms, and residents can also buy crypto abroad via Russian intermediaries with proper tax reporting. The CBR emphasizes the importance of legitimizing the crypto market quickly due to international attention.

bitcoinist12/25 00:02

Russia’s Top Stock Exchanges Gear Up To Support Crypto Trading Under New Framework

bitcoinist12/25 00:02

Spain to expose every crypto transaction: Will 2026 see the end of privacy?

Spain is transitioning to a highly regulated crypto environment under the EU's MiCA framework, to be fully implemented by mid-2026. The National Securities Market Commission (CNMV) will enforce strict compliance, requiring all crypto firms to obtain European licensing or cease operations. Additionally, the DAC8 directive, effective January 2026, mandates that platforms report every transaction to the Tax Agency, regardless of amount, eliminating privacy for centralized users. While self-custody wallets remain outside this surveillance, the regulations create a stark divide between total transparency and limited privacy. This contrasts with more lenient global approaches, such as the U.S.'s proposed tax-friendly policies, prompting Spanish investors and providers to seek ways to protect privacy and prevent relocation to crypto-friendly jurisdictions.

ambcrypto12/24 23:02

Spain to expose every crypto transaction: Will 2026 see the end of privacy?

ambcrypto12/24 23:02

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