# Сопутствующие статьи по теме Compliance

Новостной центр HTX предлагает последние статьи и углубленный анализ по "Compliance", охватывающие рыночные тренды, новости проектов, развитие технологий и политику регулирования в криптоиндустрии.

Huobi Growth Academy | 2025 In-Depth Crypto Market Research Report: Institutions, Stablecoins, and Regulation, 2025 Crypto Market Review and 2026 Outlook

The 2025 crypto market marked a structural turning point, shifting from retail-driven speculation to an institutionally-dominated landscape. Capital inflows via ETFs and regulated channels transformed market dynamics, reducing volatility but increasing sensitivity to macro interest rates. Stablecoins evolved into core global settlement infrastructure, with RWA (particularly on-chain U.S. Treasuries) scaling significantly, merging crypto with traditional finance. Regulatory clarity lowered institutional barriers, accelerating adoption of crypto as a configurable, auditable financial infrastructure. However, vulnerabilities in algorithmic and yield-bearing stablecoins exposed systemic risks, highlighting the need for transparency and quality differentiation. Looking to 2026, key variables include the cost of compliant capital, the quality of on-chain dollar systems, and the sustainability of real yield. Success will favor infrastructure and assets that thrive under capital, yield, and regulatory constraints.

深潮12/25 09:19

Huobi Growth Academy | 2025 In-depth Crypto Market Research Report: Institutions, Stablecoins, and Regulation, 2025 Crypto Market Review and 2026 Outlook

The 2025 crypto market underwent a structural transformation driven by three key shifts: institutional adoption, the maturation of the on-chain dollar system, and regulatory normalization. Institutional capital became the marginal buyer via ETFs and regulated vehicles, reducing volatility but increasing sensitivity to macro factors like interest rates. The market shifted from narrative-driven speculation to liquidity-driven, macro-sensitive asset allocation. Stablecoins evolved into core infrastructure, serving as the primary settlement layer and dollar proxy for on-chain economy, with transaction volumes rivaling major payment systems. Real-World Assets (RWA), particularly tokenized U.S. Treasuries, scaled significantly, introducing low-risk yield curves on-chain and merging DeFi with traditional finance. However, algorithmic and yield-bearing stablecoin failures exposed systemic fragility due to leverage and opacity. Regulatory clarity reduced institutional entry barriers, turning compliance into a competitive moat. Valuation models began incorporating regulatory costs, legal stability, and compliance efficiency, shifting focus from growth metrics to sustainable infrastructure. Looking ahead to 2026, key variables include macro liquidity conditions, the quality stratification of on-chain dollar instruments, sustainability of real yields, and the institutional moats built around compliance and distribution. The winners will be assets and infrastructures that thrive within these new constraints of capital, yield, and regulation.

marsbit12/25 08:49

Former FTX Employee Secures $35 Million in Funding, This Time They Built a Special Exchange

Former FTX US President Brett Harrison's fintech firm, Architect Financial Technologies, has raised $35 million in Series A funding at a $187 million valuation. The round was led by MIAX and Tioga Capital, with participation from ARK Invest, Galaxy Ventures, VanEck, and Coinbase Ventures, among others. Founded in January 2023, Architect aims to bridge traditional and digital asset markets by offering brokerage services, trading technology, and post-trade solutions for institutional clients. A key product is AX, a perpetual futures exchange for traditional assets like forex, interest rates, and metals—bypassing strict U.S. crypto regulations. The platform provides API-driven tools, multi-asset brokerage, and compliance with U.S. financial standards. Architect, which operates as a B2B infrastructure provider rather than a crypto exchange, targets hedge funds and asset managers seeking to integrate TradFi and DeFi. Harrison, a Harvard graduate and ex-Jane Street executive, left FTX US in early 2022 before its collapse. Architect’s focus on regulated, institutional-grade technology positions it to capitalize on the convergence of traditional and blockchain-based finance.

marsbit12/25 04:37

Former FTX Employee Secures $35 Million in Funding, This Time They Built a Special Exchange

marsbit12/25 04:37

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

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

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

Crypto dealmaking hits record pace in 2025 as regulatory clarity fuels consolidation

Crypto industry dealmaking reached record levels in 2025, with 267 deals totaling $8.6 billion—an 18% increase in volume and nearly four times the value from 2023. This surge was driven by clearer U.S. regulations under the Trump administration, including crypto-friendly policies and reduced legal uncertainty. Major acquisitions like Coinbase's $2.9 billion purchase of Deribit highlighted strategic moves for derivatives access and regulatory compliance. The IPO market also rebounded, with 11 crypto listings raising $14.6 billion. Looking ahead, stablecoins and compliance-driven mergers are expected to grow as new U.S. and UK regulations take effect in 2026.

ambcrypto12/24 18:57

Crypto dealmaking hits record pace in 2025 as regulatory clarity fuels consolidation

ambcrypto12/24 18:57

After the ARFC Proposal, Does Aave Still Have Long-Term Investment Value?

An ARFC governance proposal has sparked significant debate within the Aave community, focusing on the control of brand assets and revenue distribution. The proposal, initiated by a former Aave Labs CTO, calls for transferring control of key intangible assets—including domain names, social media accounts, and the Aave brand—to the Aave DAO. This follows concerns that revenue from front-end operations, such as fees from CoW Swap integration, was directed to Aave Labs without DAO approval, raising issues of transparency and value capture for AAVE token holders. Snapshot voting, held from December 23–26, 2025, showed 64.15% against the proposal, 32.85% abstaining, and only 3.01% in favor, reflecting deep community division. The voting timeline over the holiday also drew criticism for potentially limiting participation. A large whale sold 230k AAVE during this period, causing a 10% price drop, though this was seen as a short-term reaction to governance uncertainty rather than a loss of faith in Aave’s fundamentals. Aave remains a leading DeFi lending protocol with over $33B TVL and a 60% market share. Recent developments include the conclusion of an SEC investigation with no action, plans for Aave V4 with cross-chain liquidity, expansion into RWA (real-world assets) aiming for $1B in scale, and a push toward mobile-friendly savings applications. The proposal highlights ongoing tension between decentralized governance and centralized execution as Aave scales. How Aave resolves this governance challenge may impact its long-term competitiveness, especially compared to protocols like Uniswap, which has successfully aligned tokenomics with protocol revenue.

marsbit12/24 11:27

After the ARFC Proposal, Does Aave Still Have Long-Term Investment Value?

marsbit12/24 11:27

How Ondo Finance plans to bring tokenized US stocks to Solana

Ondo Finance plans to launch tokenized US stocks and ETFs on Solana in early 2026, expanding its existing product line to the blockchain. These tokens will be fully backed by underlying securities held with US-registered broker-dealers, providing holders with economic exposure—including dividends—but not shareholder rights. Minting and redemption will operate 24/5, while transfers and trading can occur 24/7. Solana’s Token Extensions, such as Transfer Hooks, will enforce compliance by embedding eligibility checks and jurisdiction-based restrictions directly into the tokens. The initiative targets non-US eligible investors and requires KYC verification. Chainlink oracles will provide real-time pricing data, including corporate actions. The goal is to combine traditional equity exposure with crypto’s speed and accessibility, though regulatory scrutiny remains a key consideration.

cointelegraph12/24 10:27

How Ondo Finance plans to bring tokenized US stocks to Solana

cointelegraph12/24 10:27

Philippines blocks Coinbase, Gemini amid wider crackdown on unlicensed VASPs

Amid a wider crackdown on unlicensed virtual asset service providers (VASPs), the Philippines has blocked access to major global cryptocurrency exchanges Coinbase and Gemini. The National Telecommunications Commission directed local internet service providers to restrict access to 50 platforms flagged by the central bank for operating without authorization. This action signifies a regulatory shift from informal tolerance to strict enforcement, making local licensing mandatory for market access. The country had previously banned Binance and identified other unlicensed exchanges like OKX, Bybit, and KuCoin. Meanwhile, regulated entities are expanding crypto services, with partnerships enabling stablecoin payroll and banking-integrated crypto trading.

cointelegraph12/24 10:10

Philippines blocks Coinbase, Gemini amid wider crackdown on unlicensed VASPs