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.

Encryption Claims Dilemma: The Reality of Rights Protection Under the Conflict of Criminal and Civil Procedures

"Encrypted Claims Dilemma: The Reality of Rights Protection Amidst Criminal-Civil Procedure Conflicts" This article examines the challenges victims face in seeking legal recourse for cryptocurrency theft or fraud in China, highlighting the tension between criminal and civil procedures. Through two representative cases, it illustrates how cross-jurisdictional complexities and regulatory ambiguities often hinder effective relief. In Case 1, a South Korean company paid 800,000 USDT to a Chinese employee of an S-based exchange for listing services, only to have the employee disappear. Despite legal efforts citing属地管辖 (territorial jurisdiction) and the property-like status of virtual assets under China’s "9.24 Notice," local police initially refused to accept the case due to the foreign elements involved. After persistent advocacy, the case was accepted but not formally立案 (registered). Case 2 involved a woman scammed out of over 3 million RMB while attempting to purchase USDT through an OTC trader for investment. While the trader was arrested, the main fraudster remained abroad. Civil action against the trader for unjust enrichment failed, as courts cited the "criminal-first" principle (刑事优先), requiring criminal resolution before civil claims can proceed. The analysis reveals that civil remedies are often impractical when criminal elements are involved: courts may transfer such cases to police, and even successful criminal convictions may not guarantee restitution if perpetrators lack assets. The author concludes that, despite guides on civil litigation, pursuing criminal avenues remains the more viable—though still fraught—path for victims seeking recovery. The piece underscores systemic hurdles, including judicial reluctance to recognize crypto-related claims and procedural barriers, urging greater clarity in legal frameworks to protect victims.

比推12/09 16:07

Encryption Claims Dilemma: The Reality of Rights Protection Under the Conflict of Criminal and Civil Procedures

比推12/09 16:07

New CFTC Crypto Initiative: Bitcoin, Ethereum, To Serve As Collateral In Derivatives Trading

The US Commodity Futures Trading Commission (CFTC), led by Acting Chair Caroline Pham, has launched a pilot program permitting Bitcoin (BTC), Ethereum (ETH), and USD Coin (USDC) to be used as collateral in US derivatives markets. This initiative includes new guidance on tokenized assets, covering eligible assets, custody, valuation, and risk management. The CFTC also issued a no-action position for Futures Commission Merchants (FCMs) accepting crypto as margin collateral and withdrew an outdated advisory that previously restricted such practices. FCMs can now accept these digital assets for an initial three-month period, during which they must submit weekly reports and notify the CFTC of any significant issues. Pham stated the move aims to provide regulatory clarity, protect customer assets, and offer a safe alternative to offshore crypto exchanges following recent customer losses.

bitcoinist12/09 16:01

New CFTC Crypto Initiative: Bitcoin, Ethereum, To Serve As Collateral In Derivatives Trading

bitcoinist12/09 16:01

Kyrgyzstan Launches $50M Gold-Backed USDKG Stablecoin To Modernize Cross-Border Payments

Kyrgyzstan has launched USDKG, a state-issued gold-backed stablecoin pegged 1:1 to the U.S. dollar, with an initial issuance of $50 million. Issued on the Tron blockchain and fully audited, it is backed by physical gold reserves and operates under the country’2022 virtual asset law. The project, led by a state-owned entity under the Ministry of Finance, aims to modernize cross-border payments, enhance financial inclusion, and trade efficiency. USDKG is FATF compliant and emphasizes transparency and regulatory oversight. It is positioned as a complement to the national monetary system, with plans to expand gold backing to $500 million and eventually $2 billion.

TheNewsCrypto12/09 15:04

Kyrgyzstan Launches $50M Gold-Backed USDKG Stablecoin To Modernize Cross-Border Payments

TheNewsCrypto12/09 15:04

Illegal Miners Threatened with Criminal Punishment. What to Prepare For

Russian authorities plan to introduce both administrative and criminal liability for illegal cryptocurrency mining, as announced by Deputy Prime Minister Alexander Novak. The government aims to regulate the digital currency market and establish penalties for mining violations. Legal experts suggest that criminal charges should be reserved for cases involving significant public danger, such as large-scale damage to energy infrastructure or threats to grid stability, rather than duplicating existing laws. They argue that administrative fines are sufficient for minor offenses like small-scale home mining. The distinction between criminal and administrative liability will likely be based on the scale of damage and the amount of illicit income generated. A previous legislative draft proposed substantial fines for unregistered mining, but it was criticized for lacking proportionality. Amendments to both the Administrative and Criminal Codes are expected by 2026 to address these issues. Despite mining being legalized in Russia in 2024, an estimated 70% of miners remain unregistered due to challenges in legalizing previously imported equipment.

RBK-crypto12/09 14:15

Illegal Miners Threatened with Criminal Punishment. What to Prepare For

RBK-crypto12/09 14:15

Hong Kong launches CARF crypto tax consultation to combat evasion

Hong Kong has launched a public consultation on implementing the Crypto-Asset Reporting Framework (CARF) to align its crypto tax data sharing with global standards and combat cross-border tax evasion. The initiative, led by Financial Services Secretary Christopher Hui, also includes potential updates to the Common Reporting Standard (CRS). This move reinforces Hong Kong’s existing efforts in international tax cooperation, having exchanged financial account data with partner jurisdictions since 2018. CARF has seen broad global adoption, with 76 countries pledging to implement it by 2029. However, some jurisdictions like Switzerland and the U.S. are proceeding cautiously or with delays.

cointelegraph12/09 13:24

Hong Kong launches CARF crypto tax consultation to combat evasion

cointelegraph12/09 13:24

US SEC Closes Biden-Era Investigation Into Ondo Finance Without Charges

The US Securities and Exchange Commission (SEC) has closed its two-year investigation into Ondo Finance without filing any charges. The probe, initiated in 2024 under the Biden administration, examined whether the platform’s tokenized real-world assets (RWA) and its ONDO token complied with federal securities laws. Ondo Finance described the decision as a "meaningful milestone" for the tokenization industry, reflecting a broader shift in U.S. regulatory policy toward embracing innovation. The SEC has since added tokenization to its formal agenda, recognizing its potential to modernize capital markets. Ondo, a leader in the RWA sector, aims to advance the seamless movement of tokenized assets across blockchains.

bitcoinist12/09 11:10

US SEC Closes Biden-Era Investigation Into Ondo Finance Without Charges

bitcoinist12/09 11:10

Circle gets Abu Dhabi greenlight amid UAE stablecoin and crypto push

Circle has received regulatory approval from the Abu Dhabi Global Market (ADGM) to operate as a licensed Money Services Provider, expanding its presence in the UAE. The company also appointed Saeeda Jaffar as managing director for the Middle East and Africa. This move is part of a broader trend of crypto firms, including Tether, Ripple, and Binance, gaining regulatory clearance in Abu Dhabi. The UAE has been advancing its crypto regulatory framework, introducing rules for DeFi and Web3, while also enforcing stricter oversight on unlicensed crypto operations.

cointelegraph12/09 09:33

Circle gets Abu Dhabi greenlight amid UAE stablecoin and crypto push

cointelegraph12/09 09:33

Bitcoin Back In Argentina: Central Bank Removes 3-Year Restrictions

Argentina's central bank is preparing to allow commercial banks to offer regulated cryptocurrency trading and custody services, ending a three-year restriction. This move, in response to widespread use of Bitcoin and stablecoins as a hedge against peso weakness and inflation, will enable banks to operate under a controlled, licensed framework with stricter rules and monitoring. The new system builds on existing regulations for crypto firms, likely focusing on major assets like Bitcoin and established stablecoins. While offering easier access and stronger custody through familiar banking apps, these services will not carry the same guarantees as insured deposits and will require explicit risk disclosures.

bitcoinist12/09 09:06

Bitcoin Back In Argentina: Central Bank Removes 3-Year Restrictions

bitcoinist12/09 09:06

Financial On-Chain Transformation: A Blueprint for the Overhaul of the U.S. Capital Market

The article "Financial On-Chaining: A Blueprint for the Transformation of U.S. Capital Markets" explores the potential systemic overhaul if the U.S. financial system migrates to blockchain technology, as suggested by SEC Chair Paul Atkins. It outlines seven key structural shifts: 1. Market Dynamics: Transition to T+0 settlement, enabling 24/7 trading and real-time regulatory oversight by the SEC, increasing capital velocity but eliminating traditional market buffers. 2. Banking Sector: Banks would operate with near-transparent balance sheets, reducing risks like asset-liability mismatches but potentially accelerating bank runs. Programmable collateral could unlock new financing efficiency. 3. Real Economy: Democratization of assets through fractional ownership and "micro-IPOs" for SMEs, injecting liquidity premium into U.S. assets. 4. Geopolitics: Digital reinforcement of dollar dominance via tokenized Treasuries and money market funds, attracting global capital through efficiency and transparency. 5. Risk Evolution: Systemic risks would shift from human-driven panics to technical failures (e.g., smart contract bugs, oracle manipulation), making crises faster and more technical. 6. Winners and Losers: Infrastructure builders, new asset managers, and hybrid talent would thrive; traditional intermediaries and opaque industries would decline. 7. Realistic Timeline: Full adoption in two years is unlikely due to technical, legal, and political hurdles, but gradual implementation (e.g., in Treasuries, repos) is inevitable as efficiency drives change.

比推12/09 08:30

Financial On-Chain Transformation: A Blueprint for the Overhaul of the U.S. Capital Market

比推12/09 08:30

China's Stablecoin Window Closes: A Regulatory Drama Long Written

China's regulatory crackdown on stablecoins marks a definitive shift from targeting speculative trading to safeguarding national financial sovereignty. The recent coordinated ban, emphasized by former central bank officials, underscores that private stablecoins—even those pegged to the yuan—are seen as threats to state-controlled currency issuance and financial stability. Authorities argue that dollar-dominated stablecoins like USDT and USDC facilitate capital flight and expose China to external risks, while domestic alternatives are deemed redundant given the advanced digital yuan (e-CNY) infrastructure. The policy aims to isolate China’s financial system from global crypto influence, preventing "digital dollar colonization" and curbing underground activities like money laundering. However, potential downsides include technological isolation from blockchain innovation, increased opacity in illicit transactions, and reduced influence in global digital currency developments. For industry participants, the message is clear: abandon gray-area operations, avoid RWA tokenization of Chinese assets, and focus either on offshore hubs like Hong Kong or compliant domestic channels like e-CNY integration. The era of ambiguity is over, forcing a choice between exiting entirely or operating within strict regulatory boundaries.

比推12/09 05:57

China's Stablecoin Window Closes: A Regulatory Drama Long Written