Regulation & Policy

Elon Musk's social media platform X submitted a remediation plan under pressure from the European Commission, following a €120 million fine for violations including "blue badge certification" issues. The EU pointed out problems including X's paid verification, insufficient advertising transparency, and non-compliant data access.

Dispute over stablecoin reward programs between banks and crypto firms has slowed progress on the Senate Clarity Act. Banks warn rewards could trigger deposit flight, while crypto advocates say evidence of major shifts is limited. Lawmakers including Sens. Alsobrooks and Tillis are

Gate News reports that on March 13, the Bitcoin Policy Institute called for modifications to current U.S. tax rules. Under existing regulations, all payments made using BTC are treated as capital gains transactions, requiring the payment of corresponding taxes. The institute argues that this regulation limits the practical application of Bitcoin as a means of payment.

Hong Kong's first batch of "Stablecoin Issuer License" list will be announced next week. The three main applicants are HSBC, Standard Chartered Bank, and virtual asset platform OSL. This licensing round may favor banks due to their capital strength and regulatory advantages, while OSL possesses rich practical experience. Although rumors suggest the main list is finalized, the actual situation may still change.

The U.S. cryptocurrency industry has long faced regulatory confusion, primarily reflected in the determination of crypto asset classification and the division of regulatory authority. Divergences between the SEC and CFTC have created multiple regulatory challenges for enterprises. Recently, the two agencies signed a memorandum of understanding to begin coordinating efforts to resolve regulatory conflicts and promote the establishment of an adaptive regulatory framework, aimed at forming a comprehensive digital asset regulatory system. This marks a gradual clarification of rule-making in America's digital finance era.

SEC and CFTC signed an MOU to coordinate crypto oversight and align regulatory frameworks across digital asset markets. Agreement supports data sharing, joint enforcement coordination, and clearer guidance for crypto firms. Initiative links to the Harmonization plan and CLARITY Act

HSBC and Standard Chartered are set to receive Hong Kong's first stablecoin licenses, supporting the region's aim to become a regulated global crypto hub. This move aligns with the HKMA's initiative to create a controlled digital-asset ecosystem.

Venezuela is emerging as a key hub for illegal gold trade from the Amazon, with transactions increasingly conducted in USDT due to its speed and ease. This shift complicates tracking efforts and is linked to criminal activities, environmental damage, and international sanctions.

HSBC and Standard Chartered are expected to become the first institutions in Hong Kong to obtain stablecoin issuance licenses, marking the imminent launch of Hong Kong's stablecoin regulatory framework. The new regulations require stablecoin issuers to obtain approval and comply with strict management requirements. The approval of both banks will drive traditional financial institutions' participation in blockchain payments and strengthen digital asset compliance.

As the 2026 U.S. midterm elections approach, Democrats are targeting cryptocurrencies as a key political issue, accusing Trump’s crypto projects of conflicts of interest. Several Democratic lawmakers have called for investigations into crypto companies associated with the Trump family, drawing increased scrutiny. During the election period, debates over regulation and ethical concerns have been intense. These developments could impact the outcome of future elections.

The Bitcoin Policy Institute (BPI) plans to comment on the upcoming bank capital rules proposal to be released by the Federal Reserve, arguing that Bitcoin's 1250% risk weight is excessive and does not reflect its actual risk characteristics, which would make it more difficult for banks to provide related services. The Federal Reserve is promoting the implementation of the Basel Accord, aimed at enhancing regulatory efficiency and maintaining financial stability.

CFTC issues advisory on listing prediction market event contracts. Guidance targets exchanges offering event-based derivatives. Move signals closer regulatory oversight of prediction markets. The US Commodity Futures Trading Commission has unveiled new guidance for the growing market for predict

The Korean National Tax Service is accelerating the construction of digital asset regulatory tools to implement a cryptocurrency tax system. The plan includes developing an analytics platform to monitor trading behavior, with the project expected to go live by the end of 2023. Cryptocurrency trading gains will be included in personal income tax starting in 2027, and failure to report may result in fines. The new system will strengthen oversight of individual transactions and derivatives to ensure tax compliance.

The U.S. Congress has shown divisions in discussions regarding cryptocurrency tax policy, with the small transaction tax exemption proposal gradually applying only to stablecoins, triggering dissatisfaction among Bitcoin supporters. Industry leaders have clashed publicly over this, with the core of the debate centered on small transaction exemptions. Currently, cryptocurrencies are classified as property, and transactions require capital gains tax payments, resulting in high compliance costs.

The U.S. Commodity Futures Trading Commission (CFTC) has initiated new regulations to strengthen oversight of prediction markets and event contract trading, requiring registered platforms to comply with stricter compliance standards and inviting public comment. Although the CFTC aims to promote the development of prediction markets, its regulatory jurisdiction remains contentious, particularly regarding sports event predictions. This action emphasizes maintaining market compliance and warns against violations such as insider trading, with potential further clarification of legal boundaries in the future.

The Bitcoin Policy Institute (BPI) opposes the Basel Committee's high risk weighting standards set for Bitcoin, arguing that this will restrict banks from participating in crypto asset businesses. The BPI is calling on U.S. regulators to reassess Bitcoin's risk classification, pointing out that the current framework treats it as a "toxic asset," significantly increasing the cost for banks to hold Bitcoin. This issue could impact traditional financial institutions' strategies in the digital asset space.

The U.S. Securities and Exchange Commission (SEC) Commissioner Hester Peirce stated that the SEC will design a narrower innovation exemption framework for tokenized securities, prioritizing investor protection. The IAC opposed broad exemptions and advocated for a case-by-case reform approach, while acknowledging the potential benefits of tokenization, such as improving settlement efficiency and promoting transparency. SEC Chair Paul Atkins is expected to consider the exemption soon in order to systematically establish long-term regulatory standards.

The Global Initiative Against Transnational Organized Crime (GI-TOC) report indicates that Venezuela has become a major destination for illegal Amazon gold and conducts transactions through USDT (Tether), functioning as a money laundering hub. The article also discusses U.S. Congressional legislation targeting illegal gold mining, emphasizing the need to incorporate digital asset provisions to enhance effectiveness.