Botswana’s central bank has assessed the country’s cryptocurrency markets as underdeveloped, posing only “minimal” risks to financial stability at present. However, in its Financial Stability Report, the Bank of Botswana emphasized the need for proactive regulations to mitigate potential future risks associated with digital assets. The report highlighted that as the cryptocurrency market becomes increasingly interconnected with the broader financial...
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Russia Imposes Crypto Mining Bans and Seasonal Restrictions Starting 2025
The Russian government has approved a comprehensive set of restrictions on cryptocurrency mining, with blanket bans in 10 regions and... 
Nexus’ Decentralized Supercomputer Testnet Attracts 1.5 Million Nodes
Computation firm Nexus has reported significant interest in its decentralized supercomputer, drawing over 1.5 million nodes from 187 countries during...
Grayscale Bitcoin Trust Sees $21 Billion in Outflows Amid Spot Bitcoin ETF Boom
The Grayscale Bitcoin Trust (GBTC) has recorded more than $21 billion in outflows since January, making it the only spot...
Cryptopia Liquidators Begin Distributing \$225 Million to Hack Victims
The liquidators of the defunct cryptocurrency exchange Cryptopia have started distributing funds to users affected by a hack that occurred nearly six years ago. Grant Thornton, the firm overseeing Cryptopia’s liquidation, announced on December 20 that more than 10,000 verified account holders have begun receiving payouts. Over the past two days, verified holders of Bitcoin (BTC) and Dogecoin (DOGE) were...
India Prepares for CBDC-Driven Economy, Says Outgoing Central Bank Governor
Outgoing Reserve Bank of India (RBI) Governor Shaktikanta Das has outlined a vision for India’s economic future powered by a central bank digital currency (CBDC). On his final day in office on December 10, Das emphasized the transformative potential of the digital rupee, positioning it as a cornerstone of India’s modern economy. In a farewell speech, Das reflected on his...
Former WEX Crypto Exchange Head Arrested in Poland Amid US Extradition Request
Polish authorities have arrested Dmitry V., the former head of the now-defunct Russia-based crypto exchange WEX, following an extradition request from the United States Department of Justice. The arrest, reported on December 6 by Reuters and local Polish outlet Rzeczpospolita, marks the latest in a series of legal actions tied to WEX’s collapse and subsequent fraud allegations. Dmitry V., whose...
El Salvador Poised to Scale Back Bitcoin Law Amid IMF Loan Deal
El Salvador, the first country to adopt Bitcoin as legal tender, is reportedly preparing to scale back its Bitcoin ambitions to secure a $1.3 billion loan agreement with the International Monetary Fund (IMF). According to a report by the Financial Times on December 9, the agreement would require the government to remove a legal mandate for businesses to accept Bitcoin,...
South Korea’s FSC Denies Reports of Upcoming Corporate Crypto Accounts Roadmap
The Financial Services Commission (FSC) of South Korea has denied reports suggesting it plans to publish a roadmap for permitting corporate crypto accounts by the end of the year. The clarification comes after Korea Economic Daily cited unidentified sources claiming that the FSC had developed a phased plan that would allow corporate entities to trade cryptocurrencies, starting with universities and...
German Fintech 21X Secures Regulatory Approval for Tokenization Platform Launch
German fintech company 21X, one of the four applicants for a blockchain trading infrastructure permit under the European Union’s DLT Pilot Regime, has received regulatory approval to launch a tokenization platform. The firm was granted a license to operate a blockchain-based trading and settlement system regulated by European laws, according to a Dec. 3 announcement. The license, issued by Germany’s...
Brazil Proposes Ban on Stablecoin Withdrawals to Self-Custodial Wallets Amid Currency Struggles
Brazil’s central bank, Banco Central do Brasil (BCB), has proposed a ban on transferring stablecoins to self-custodial wallets, coinciding with the Brazilian real hitting all-time lows against the U.S. dollar. On Nov. 29, the BCB issued a proposal that would prohibit transfers of stablecoins like Tether’s USDt (USDT) to wallets like MetaMask, which are self-custodial in nature. This proposal is...
Bybit CEO Says Chinese Users Can Trade Crypto via VPN Despite Regulatory Ban
Bybit CEO Ben Zhou has confirmed that users in mainland China can access the platform by using virtual private networks (VPNs), even though the crypto exchange will not be supporting yuan trading anytime soon. Speaking during a media briefing on Dec. 3, Zhou stated that Bybit has no intention of accepting China’s local currency but acknowledged that Chinese citizens could...
Hong Kong Proposes Tax Exemptions for Crypto and Investment Funds to Attract Global Investors
The government of Hong Kong has announced a plan to provide fresh tax exemptions aimed at attracting private equity and hedge funds, covering a broader scope of assets, including private credit, overseas property, and carbon credits. The proposed tax exemptions are part of an effort to position Hong Kong as a more competitive global financial hub, directly competing with other...
Tether Ends Support for Euro-Pegged Stablecoin EURt, Citing Regulatory Shifts
Tether, the issuer of the world’s largest stablecoin, USDt (USDT), has announced it will discontinue support for its euro-pegged stablecoin EURt (EURT). The company made the official announcement on Nov. 27, advising users to redeem their EURt holdings within the next year. Tether will no longer support EURt on any blockchain, and the minting of new EURt tokens has ceased....
CFTC Advances Tokenized Asset Integration as Collateral in Traditional Finance
The Commodity Futures Trading Commission (CFTC) is taking steps towards the integration of tokenized assets in traditional finance. On Thursday, the CFTC’s Global Markets Advisory Committee approved recommendations to use tokenized money-market fund assets, such as those from BlackRock and Franklin Templeton, as collateral in derivatives trading. This move brings tokenized assets closer to mainstream financial use, but these recommendations...
SEC Reports Record Penalties for 2024, Driven by Terraform Settlement
The United States Securities and Exchange Commission (SEC) achieved a new record for penalties and fines in the fiscal year 2024, largely due to a substantial settlement with cryptocurrency firm Terraform Labs. According to the SEC’s annual report released on Nov. 22, the agency netted $8.2 billion in financial remedies, marking the highest total in SEC history despite a 26%...