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During this week’s EU startup summit, while the Prime Minister of Malta made his way through high-tech expo stands and camera flashes, declining that day to address the press, it was George Gregory, the newly appointed CEO of Malta Enterprise, who was tasked to step forward in his place. It clearly reflected growing trust in Gregory’s ability to represent the country’s economic vision on the public stage.
Cape Town played host to SiGMA Africa 2025, powered by Play’n GO, a landmark event that brought together 2,500 delegates, 150+ speakers, and key players from the iGaming, tech, and digital industries. The summit provided a platform for meaningful discussions on Africa’s regulatory landscape, market opportunities, and the convergence of gaming with blockchain and fintech.
SiGMA Asia 2025 is set to take place from June 1 to 4, 2025, at the SMX Convention Center in the Mall of Asia Complex, Manila, Philippines. Endorsed by PAGCOR, the event brings together industry professionals from across the globe, featuring over 20,000 delegates, 350+ expert speakers, and a wide range of exhibitors from the iGaming, tech, and regulatory sectors.
In the latest episode of the SiGMA Pokerface Podcast, professional poker player, writer, and commentator David K. Lappin joins Ivonne Montealegre, SiGMA Poker Tour Operations Manager, to unpack an 18-year journey from screenwriting to the high-stakes world of poker.
South Korea has introduced new guidelines allowing listed companies and professional investors to trade cryptocurrencies. Several media outlets reported that the government’s 2026 Economic Growth Strategy, which includes stablecoin laws and licencing for spot cryptocurrency ETFs, is in line with this action. It lifts a nine‑year restriction that had left the market dominated by retail investors.
In 2017, South Korea banned corporate participation in cryptocurrency trading due to concerns about money laundering, market manipulation, investor protection, and financial stability. The move left the country’s crypto market dominated by retail investors, who at one point accounted for nearly all trading activity. Meanwhile, institutional capital moved abroad, with an estimated 76 trillion won ($52 billion) leaving Korea for more favourable markets. By contrast, in the US, institutions made up over 80 percent of trading volume on Coinbase in the first half of 2024.
South Korea’s new guidelines allow publicly listed companies and registered professional investment corporations, about 3,500 entities, to trade cryptocurrencies. Firms can invest up to 5% of their equity capital annually, and only cryptocurrencies ranked in the top 20 by market capitalisation on the country’s major exchanges are permitted. This excludes meme coins, micro‑cap projects, and high‑risk tokens, focusing instead on assets with established liquidity and market depth.
Regulators in South Korea are still considering whether stablecoins such as Tether (USDT) will be included, with concerns around currency sovereignty, capital controls, and monetary policy likely to shape strict rules before approval. The government has also announced progress towards approving spot Bitcoin ETFs, which would make cryptocurrency accessible through traditional stock exchanges and allow participation from pension funds, asset managers, and other institutional investors.
South Korea’s new framework requires exchanges to manage risk by breaking large orders into smaller trades, executing them gradually, and monitoring unusual activity. These measures are designed to reduce price volatility, prevent market manipulation, and maintain liquidity.
South Korea’s crypto market has long been dominated by retail investors, leading to volatility and limited risk management. The entry of institutions is expected to bring greater liquidity, professional oversight, and longer‑term strategies. With legal access restored, significant capital could return to domestic markets, supporting growth within the country rather than moving abroad.
There are no investment caps in the US, and major Bitcoin holdings are held by publicly traded firms like Tesla and MicroStrategy, as well as by institutions that actively trade spot assets, ETFs, and derivatives. Japan allows corporations to own cryptocurrency, and companies like Metaplanet have reserves of Bitcoin. The European Union and Hong Kong have introduced regulatory frameworks emphasising transparency, custody standards, and investor protection, but without limits on corporate exposure. South Korea differs by imposing caps, which sets it apart from these markets.
In comparison to other markets, industry leaders contend that South Korea’s 5 percent investment ceiling on corporate cryptocurrency holdings is unduly restrictive, impeding fund inflows and the growth of specialised investment firms. Without more flexibility, Korea can lose out on chances to establish businesses that employ cryptocurrency to increase company value, like MicroStrategy in the United States or Metaplanet in Japan. Opponents warn that as international markets develop, heavy regulation may impede Korea’s advancement.
South Korea’s 2026 Economic Growth Strategy includes cryptocurrency as part of its national plan. In September, the ruling Democratic Party launched a crypto policy task force with the aim of fostering growth in blockchain and digital asset innovation, reflecting the government’s intention to position Seoul as a global centre for the sector.
The FSC is expected to release final guidelines by January or February, with corporate trading set to align with the Digital Asset Basic Act, scheduled for introduction in the first quarter of 2025. If implemented as planned, institutional trading could begin before the end of the year. Over the longer term, the policy is expected to increase institutional liquidity, support the development of financial products, encourage blockchain start‑ups, and strengthen Korea’s global competitiveness.
Dubai goes full throttle on frontier tech. AIBC Eurasia, 09–11 February 2026, gathers over 14,500 delegates across AI, blockchain, fintech, and more. Big names. Big tech. Bigger opportunities. Will you be there?
Colombia has moved to significantly strengthen oversight of cryptocurrency activity, as the National Directorate of Taxes and Customs (DIAN) introduces mandatory reporting requirements aligned with the OECD’s Cryptoasset Reporting Framework (CARF).
Under Resolution 000240, published on 24 December 2025, crypto exchanges and service providers will be required to disclose detailed user transaction data to the tax authority starting in 2026. The measures are designed to curb tax evasion and bring crypto activity more firmly within Colombia’s formal tax system.
As reported by Cryptopolitan, law firm Holland & Knight said the resolution was issued in compliance with Law 1661 of 2013 and Colombia’s commitments under the Multilateral Agreement for the Automatic Exchange of Information.
The rules require Cryptoasset Service Providers (PSCAs) to report all crypto transactions exceeding $50,000 carried out in Colombia. Providers must also submit detailed information on the type of crypto assets involved in each transaction, alongside identifying data on reportable users.
The regulation defines who qualifies as a reportable person and outlines specific exclusions, while extending obligations to both legal entities and individuals acting as crypto intermediaries.
According to DIAN, the framework aims to prevent the use of crypto assets for tax evasion by expanding automated monitoring of high-value digital asset activity.
Although Resolution 000240 came into force late last year, DIAN has designated 2026 as the first full observation period. Crypto users are therefore advised that all transactions conducted during the year will be recorded by service providers for submission to the tax authority.
DIAN has set May 2027 as the deadline for platforms to submit their first large-scale crypto transaction reports.
Before the new regulations, Colombian taxpayers had to voluntarily disclose cryptocurrency assets on their income tax returns, either as part of their net worth or as sporadic gains. However, self-reporting was a major component of enforcement.
According to Holland & Knight, the new system increases the cost of compliance for both platforms and consumers by switching reporting from voluntary disclosure to automatic inspection.
While the $50,000 threshold applies to transaction reporting, DIAN will also electronically process information related to users’ tax residences and net crypto balances, excluding commissions. This information may be reported even if users do not exceed the transaction threshold.
Holland & Knight warned that retail users should be particularly aware of automatic alerts triggered by high-value transfers. Failure to report transactions accurately, or providing incomplete information, may result in fines of up to 1 percent of the unreported transaction value.
The firm stressed that the strict implementation timeline leaves little room for error, making transparency a legal obligation rather than a best practice.
Holland & Knight has advised crypto users in Colombia to maintain detailed personal records of crypto purchases and sales, including pricing and transaction histories. The firm noted that DIAN may require this information for cross-referencing purposes, particularly to verify the origin of crypto assets.
According to the lawyers, Colombia is closing the gap between tax enforcement and technological innovation, creating a more regulated environment for investors and a clearer pathway for integrating digital assets into the national tax system.
However, all submitted data must comply with rules governing updates to Colombia’s Single Taxpayer Registry, with regulated entities responsible for correcting and retaining records for a prescribed period.
Holland & Knight also cautioned that on-chain activity will no longer be effectively private for Colombian crypto users. Transactions involving assets such as Bitcoin, Ethereum, and stablecoins will now be shared between service providers and DIAN beginning with the 2026 tax year.
The Crypto Council for Innovation has observed that Colombia is accelerating crypto regulation as part of broader efforts to formalise the sector. The country currently ranks 29th globally in crypto adoption, with more than five million Colombians estimated to own digital assets.
Many users rely on platforms such as Wenia, a centralised crypto service incorporated in Bermuda, highlighting the cross-border nature of the compliance challenge facing regulators and service providers alike.
Meanwhile, Argentina is also considering a major policy shift that would allow domestic banks to trade digital assets and offer crypto-related services. The Central Bank of the Argentine Republic (BCRA) is reviewing its current framework, which prohibits banking institutions from participating in digital asset activities.
Elsewhere, the UK Treasury has prepared new legislation that will regulate cryptocurrency markets in the same way as traditional financial products, with the changes expected to come into force in 2027.
Meanwhile, in Hong Kong, Swiss crypto-focused AMINA Bank AG has become the first international bank to receive approval from the country’s Securities and Futures Commission (SFC) to offer institutional crypto trading and custody services, marking a major milestone in the city’s push to attract global digital-asset firms.
Despite a sharp pullback in cryptocurrency prices, industry developments in 2025 may have laid the groundwork for broader mainstream adoption in 2026, according to analysis by The Motley Fool.
Since early October, the total cryptocurrency market capitalisation has fallen from approximately $4.2 trillion to $2.9 trillion, rattling investor confidence amid heightened volatility. However, beneath the price action, the digital asset sector has recorded several regulatory and institutional milestones that were considered improbable just a few years ago.
In the United States, policymakers have moved decisively toward integrating crypto into the financial system. The federal government announced plans to begin holding Bitcoin (BTC) as part of its strategic reserves, while lawmakers passed a comprehensive legislative framework governing stablecoins. At the same time, US financial regulators adopted a more constructive stance, dropping enforcement actions initiated under previous administrations.
Recently, the US Office of the Comptroller of the Currency (OCC) announced that national banks may now act as intermediaries in cryptocurrency transactions. This decision marks a change in how the financial system engages with digital assets.
Bitcoin also reached new all-time highs earlier in 2025, while traditional financial institutions expanded their crypto offerings, introducing new investment products and custody solutions. Together, these developments may position cryptocurrency for wider adoption next year.
One of the most significant catalysts for crypto adoption in 2026 could be the growing role of stablecoins in everyday payments. Stablecoins are blockchain-based tokens pegged to fiat currencies such as the US dollar, enabling near-instant, low-cost transactions across borders. Their adoption accelerated after the Guiding and Establishing National Innovation for US Stablecoins Act, known as the GENIUS Act, became law in July 2025, providing regulatory clarity for banks and payment providers.
With compliance frameworks now in place, stablecoins are expected to evolve beyond their traditional use in crypto trading. A report by McKinsey projects that the value of stablecoins in circulation could rise from $250 billion in 2025 to $2 trillion by 2028, signalling a potential shift toward mainstream payment adoption.
As reported by the Motley Fool, another major trend shaping crypto’s future is the tokenisation of real-world assets (RWAs), which allows ownership of assets such as equities, real estate and intellectual property to be represented on the blockchain.
Tokenisation reduces transaction friction, improves liquidity and lowers barriers to entry by enabling fractional ownership. Industry observers compare its potential impact to the introduction of fractional stock trading, which transformed access to high-priced equities for retail investors.
While regulatory and technological challenges remain, adoption is accelerating. Data from rwa.xyz shows that tokenised real-world assets grew from less than $2 billion at the start of 2024 to more than $18 billion, with nearly half tied to tokenised US Treasuries. Further expansion is expected in 2026 as more asset classes migrate on-chain.
Clearer regulation has also unlocked greater institutional participation in digital assets, particularly through exchange-traded funds (ETFs).
Spot Bitcoin ETFs have rapidly accumulated assets, with total net assets rising from around $30 billion shortly after their January 2024 launch to nearly $125 billion, according to Coinglass data. While Bitcoin’s recent price decline triggered some institutional outflows, analysts suggest long-term capital remains relatively resilient.
A Bernstein report described institutional inflows as “sticky,” indicating they could support new Bitcoin highs in 2026 and 2027. Meanwhile, State Street Investment Management reported that 86% of institutional investors either held or planned to acquire Bitcoin in 2025, a trend expected to continue into next year.
HashKey Holdings Ltd, founded in 2018, set out to integrate digital assets into regulated financial systems. The company positioned itself as a link between traditional finance and the growing digital asset sector in Asia. HashKey provides asset management, brokerage, tokenisation, staking, and over‑the‑counter trading, and operates Hong Kong’s largest licensed cryptocurrency exchange. Its services cater to both institutional and retail investors.
HashKey raised about HK$1.6 billion (approx. $208 million) through its Initial public offering (IPO), pricing shares at HK$6.68 each, near the top of its range. The company became the first cryptocurrency firm to list on the Hong Kong Stock Exchange. The listing highlights that regulated crypto businesses can operate within Hong Kong’s financial framework.
HashKey shares closed at HK$6.67 (approx. $0.87), down 0.15 percent from the offer price. The stock rose as much as 6.6 percent during the session before falling 8.4 percent to its intraday low. The Hang Seng Index rose almost 0.9 percent while HashKey ended flat, highlighting how crypto‑linked stocks are treated differently from ordinary shares. The market’s caution is reflected in the modest performance, which is noteworthy in contrast to the broader decline in cryptocurrency.
🎉 HashKey Holdings Limited is officially listed on the Main Board of HKEX!
As Asia’s first publicly listed digital asset company via an IPO in Hong Kong, this milestone marks the company's entry into a new stage of development and establishes a stronger foundation for its… pic.twitter.com/v22cmEntUX
— HashKey Group (@HashKeyGroup) December 17, 2025
Despite market volatility, the institutional tranche was oversubscribed 5.5 times, showing high participation. Due to strong interest from individual investors, retail demand reached around 394 times oversubscription. The oversubscription during a wider decline indicates that investors are paying attention to more than just short‑term price fluctuations.
Bitcoin fell by as much as 36 percent after reaching record highs above $126,000, reflecting sharp market swings. Other cryptocurrencies also moved lower, creating a challenging environment for crypto‑related listings.
Chairman and CEO Xiao Feng said short‑term volatility does not affect his outlook on digital assets. He noted that clearer rules and compliance frameworks are important for sustainable industry growth. Xiao added that crypto markets move in cycles and the company is focused on long‑term development.
Xiao stated, “My confidence is only growing stronger, and I am more optimistic than 10 years ago because there is more regulation and compliance guidance for us to follow, which will allow the industry to grow further.”
Mainland China banned cryptocurrency trading in 2021, citing risks such as fraud and pyramid schemes. Hong Kong has adopted policies supportive of digital assets to strengthen its role as a financial hub. HashKey operates within this framework, following national rules while using Hong Kong’s regulatory autonomy.
The business is still loss‑making, but it is prioritising cash flow and reinvestment ahead of immediate profits. Like early‑stage digital companies, management is adopting a growth‑first strategy. Instead of focusing on quick profits, the plan aims to establish digital finance infrastructure.
Funds will be directed towards blockchain infrastructure, cybersecurity, and trading platforms. Alliances and regional expansion are also part of the plans. Operations continue to revolve around compliance.
Hong Kong’s Stock Exchange raised over $34 billion this year, its strongest since 2021. Crypto listings such as HashKey’s add diversity to the market. More IPOs are scheduled for December, indicating renewed activity.
Asia’s adoption rate leaves room for expansion. Tokenisation and wealth management could reshape asset ownership. Strong compliance may serve as a competitive strength. Short‑term volatility is expected, but long‑term prospects remain. Investors with patience gain exposure to regulated crypto growth.
Argentina is considering a major policy shift that would allow domestic banks to trade digital assets and offer crypto-related services. The Central Bank of the Argentine Republic (BCRA) is reviewing its current framework, which prohibits banking institutions from participating in digital asset activities, La Nación reported, citing sources familiar with the discussions.
The proposed changes would mark a significant departure from long-standing rules restricting banks from engaging with cryptocurrencies. La Nación’s sources did not disclose specific details or a regulatory timeline, but a senior representative from a major crypto exchange operating in Argentina said that the updated rules could be approved as early as April 2026.
Local exchanges and industry analysts say that opening the door for banks to access cryptocurrencies and offer digital asset products would likely trigger a new era of mainstream adoption in Argentina.
Argentina logged $93.9 billion in cryptocurrency transactions between July 2022 and June 2025, making it the second-largest market in Latin America, only surpassed by Brazil, according to the Block, citing a Chainalysis research from October.
With inflation pressures and a volatile peso continuing to drive demand for digital assets, analysts believe that bank-integrated crypto services could normalise crypto use across savings, payments, and cross-border transactions.
The developments in Argentina come as neighbouring Brazil, the region’s largest crypto market, strengthens its regulatory framework. Brazil fully included the digital asset industry in its financial legislation in 2025, requiring all crypto service providers to seek central bank authorisation in order to conduct business.
As regional governments attempt to strike a balance between innovation and consumer safeguards, analysts speculate that Argentina’s possible action may be an attempt to stay competitive and in line with more general Latin American regulatory tendencies.
Crypto adoption is gaining momentum around the world. In its recently released 2024 Payment and Settlement Report, South Korea’s central bank underlined its commitment to proactively influence regulatory frameworks for the use of cryptocurrency, most specifically stablecoins.
Meanwhile, the United Kingdom recently introduced the Property (Digital Assets etc) Act, which formally classifies cryptocurrencies, stablecoins and tokenised instruments as a new category of personal property. India’s Madras High Court also declared in October that cryptocurrencies are “property” under Indian law, giving their holders the same legal protections as those of owners of material or monetary goods.
In related news, India is moving closer to introducing a central bank-backed digital currency (CBDC), designed to simplify transactions, reduce paper use, and offer faster, traceable payments built on blockchain technology. According to several media reports, Piyush Goyal, the minister of commerce, has announced that India will soon introduce a digital currency that is insured by the Reserve Bank of India (RBI).
India ranked first in cryptocurrency adoption for 2025, according to the sixth Chainalysis Global Crypto Adoption Index. The United States came in second, indicating a rise in activity in both nations. The research showed, market trends are being influenced by institutional investment and grassroots usage. India leads in all measured categories, including retail and institutional flows. The US rise is linked to higher institutional involvement following the approval of spot bitcoin ETFs. Pakistan, Vietnam, and Brazil complete the top five.
India’s cryptocurrency market recorded transactions worth ₹51,000 crore ($6.12 billion) in 2024–25, a 41 percent increase on the previous year. The rise reflects growing use of virtual digital assets amid evolving government policy and institutional activity. India has become one of Asia’s largest crypto markets, driven by younger investors and fintech adoption. Despite high taxation and the absence of formal regulation, digital assets such as Bitcoin, Ethereum and stablecoins are being used as alternative investment options.
As reported by The Hindu, data presented in Parliament reveals the Ministry of Finance collected ₹511.8 crore ($61.42 million) as Tax Deducted at Source (TDS) from cryptocurrency trades. At a 1 percent TDS rate, this equates to ₹51,180 crore ($6.14 billion) in total transactions during FY 2024–25, reflecting higher trading volumes and compliance. India’s 1 percent TDS on crypto transfers, introduced under the Finance Act 2022, was designed to track transactions and ensure proper reporting of gains. Although initially criticised for discouraging activity, the rule has become a key source of data on market size.
India’s cryptocurrency market has recorded steady growth over the past three years, with transactions rising from ₹22,130 crore in 2022–23 to ₹36,270 crore ($4.35 billion) in 2023–24, and further to ₹51,180 crore ($6.14 billion) in 2024–25. This 41 percent year‑on‑year increase means the market has more than doubled in two years, despite ongoing regulatory uncertainty.
The government collected ₹511.8 crore ($61.42 million) in Tax Deducted at Source (TDS) from cryptocurrency transactions in FY 2024–25, the highest amount to date from digital assets. The figure reflects increased reporting of transactions. A 1 percent TDS on Virtual Digital Assets applies to every transaction, regardless of profit or loss. Introduced in 2022 and retained in the 2025 Income Tax Act, the rule ensures oversight of crypto trading. Each sale of crypto in India triggers a 1 percent deduction paid to the government.
The rule initially reduced trading volumes as frequent traders struggled with liquidity. By 2024–25, many had adapted by holding assets longer, using foreign or decentralised exchanges, and structuring transactions to limit taxable events. These adjustments contributed to market recovery and growth.
Income Tax Department surveys on three major crypto exchanges found TDS non‑compliance worth ₹39.8 crore ($4.78 million). The surveys also uncovered undisclosed income of ₹125.79 crore ($15.09 million), pointing to gaps between policy and execution in the crypto sector. Search and seizure operations detected ₹888.82 crore in undisclosed income linked to crypto, highlighting its use in tax evasion and money laundering and prompting closer scrutiny.
The Enforcement Directorate attached or froze crypto assets worth ₹4,189.89 crore ($502.79 million) under the Prevention of Money Laundering Act. It also reported 29 arrests, 22 prosecution complaints and one individual declared a Fugitive Economic Offender, reflecting the scale of financial crime under investigation.
The Central Board of Direct Taxes (CBDT) reported finding nearly ₹889 crore ($106.68 million) in undisclosed income through investigations into virtual digital asset transactions. The figure highlights the challenges of tracking crypto activity and the government’s growing use of data intelligence.
CBDT issued 44,057 notices to taxpayers who did not report crypto holdings or trades in their income tax returns. Authorities are using data‑matching tools to identify unreported investments.
India continues to face hurdles in regulating crypto, including the absence of a clear legal framework, the cross‑border nature of trades and the rapid emergence of new digital assets and decentralised finance models. Analysts expect a more defined framework by 2026, possibly under the Digital India Act, aimed at balancing investor protection with oversight of financial risks.
Opinions on India’s tax policy remain divided. Supporters say TDS enforces accountability, while critics argue it limits innovation and drives activity offshore. All agree that crypto remains a major part of India’s financial landscape.
Binance Holdings Ltd. has received three licences from Abu Dhabi’s Financial Services Regulatory Authority (FSRA). The approvals, announced during Abu Dhabi Finance Week, cover the company’s regulated exchange, clearing infrastructure and broker‑dealer operations. This means Binance is authorised to run a trading platform, manage settlement and custody, and provide off‑exchange services under FSRA oversight.
The Regulated Exchange Licence: This licence permits Binance to operate a trading platform for digital assets in Abu Dhabi. It requires compliance with anti‑money laundering (AML) and know‑your‑customer (KYC) rules.
The Clearing Infrastructure Licence: This licence authorises Binance to manage post‑trade processes, including clearing and settlement. It gives the company responsibility for verifying, recording and storing transactions.
The Broker‑Dealer Licence: This licence allows Binance to act as an intermediary for institutional and retail investors, executing trades and managing portfolios. It provides regulated access to digital assets for financial institutions and individual clients.
Major milestone 🏁#Binance is the first-ever digital assets trading platform to secure a full suite of licenses from FSRA under @ADGlobalMarket.
This marks a breakthrough moment that raises global standards for regulation, security, and trust.
It reflects our commitment to… pic.twitter.com/ItRofJoAOC
— Binance (@binance) December 8, 2025
In March, Binance received a $2 billion investment from MGX, an AI‑focused investment firm chaired by Sheikh Tahnoon bin Zayed Al Nahyan. Sheikh Tahnoon’s involvement reflects Abu Dhabi’s interest in expanding its position in digital assets. The arrangement combines financial backing with technology, linking AI investment and cryptocurrency operations.
The Financial Services Regulatory Authority (FSRA) is the supervisory body of the Abu Dhabi Global Market (ADGM). It sets and enforces regulatory standards for financial institutions operating within its jurisdiction. FSRA places emphasis on investor protection, market integrity and transparency. Its crypto framework requires strict compliance, meaning Binance had to meet specific benchmarks before approval. Approval from FSRA indicates that Binance has met regulatory requirements, strengthening its position within the global market.
After past controversies, Binance has shifted its focus to transparency and regulation, aiming to balance compliance with growth. Co‑CEO Richard Teng, formerly with ADGM, suggested the UAE could become Binance’s global headquarters, reflecting the country’s regulatory stance on digital assets.
Teng commented, “Achieving regulatory status through ADGM’s respected framework reflects our deep commitment to compliance, transparency and user protection. ADGM is one of the most respected financial regulators globally, and holding an FSRA licence under their gold standard framework shows that Binance meets the highest international standards for compliance, governance, risk management and consumer protection.”
Abu Dhabi’s leadership is positioning the UAE as a centre for regulated crypto activity. The UAE’s approach may influence other regulators to adopt similar frameworks, supporting a more consistent global market. Approval from FSRA indicates Binance has met compliance standards. It strengthens institutional confidence and may encourage larger investors to return to the market.
Founder Changpeng Zhao (CZ) stepped down following legal challenges in the U.S., where Binance agreed to pay $4.3 billion to settle investigations. Under Richard Teng, Binance is working to rebuild its image as a compliant and transparent exchange.
The Abu Dhabi Investment Council (ADIC), part of Mubadala Investment Co., has expanded its stake in BlackRock’s iShares Bitcoin Trust ETF to nearly 8 million shares, valued at over $518 million. This reflects a long‑term commitment to digital assets. The new licences are intended to strengthen trust, transparency and regulatory oversight in the sector. They position Binance to operate within a more structured framework after recent regulatory challenges.
The United Kingdom has introduced the Property (Digital Assets etc) Act, which formally classifies cryptocurrencies, stablecoins and tokenised instruments as a new category of personal property.
As reported by media outlets, lawmakers say the reform aims to protect consumers, reduce legal uncertainty, and support the UK’s ambition to become a global hub for digital assets. By placing digital tokens in a clearly defined property class, courts and lawyers no longer need to rely on patchwork case law when handling disputes over wallets, private keys or token transfers.
The statute builds on guidance from the Law Commission of England and Wales, which found that traditional property categories, physical goods or intangible rights, did not adequately capture the nature of digital assets. Now, judges can recognise crypto tokens as distinct property, enabling stronger remedies in cases of hacks, fraud or misappropriation.
The new framework provides stronger legal grounds for proving ownership of cryptocurrencies and tokenised assets, improved pathways for recovering stolen or lost digital tokens through proprietary remedies, simpler contract structures for custody, collateral and tokenised real-world assets, as well as greater legal certainty for banks, asset managers and custodians planning digital asset services.
Courts can now treat wallets and on-chain records as legally recognised property interests, making it easier to include crypto holdings in insolvency processes, estate planning, and commercial disputes.
Regulators also view the Act as part of the UK’s broader digital asset strategy. Ongoing consultations by HM Treasury and the FCA aim to bring crypto markets, stablecoins and related services into the existing financial rulebook, combining innovation with strict oversight.
The new policy coincides with Reform UK securing a record-breaking £9 million donation from cryptocurrency investor and aviation entrepreneur Christopher Harborne, setting a new benchmark for political funding in Britain. As reported by the BBC, Fresh Electoral Commission data confirms it is the largest single donation ever made by a living individual to a UK political party, giving Reform a significant financial edge ahead of local elections in May.
Christopher Harborne, who resides in Thailand despite being a British citizen, has long been a prominent political donor. He previously contributed millions to the Conservative Party under Boris Johnson and to the Brexit Party, Reform UK’s predecessor, during 2019–2020.
His latest donation surpasses the previous record of £8 million, made by supermarket magnate Lord David Sainsbury to the Liberal Democrats in 2019. Another family member, Lord John Sainsbury, posthumously left £10 million to the Conservatives in 2022.
Harborne has extensive interests in private aviation, with companies such as AML Global and Sherriff Group operating in aircraft services and logistics.
Between July and September, Reform UK reported more than £10.2 million in total donations, according to Electoral Commission filings, more than double the Conservative Party’s £4.6 million. Labour followed at £2.1 million, with the Liberal Democrats reporting £1 million.
Combined with its strong polling performance since spring, Reform UK enters 2025 as one of the country’s best-funded political forces, bolstered by both financial momentum and shifting attitudes towards the digital economy, an area closely tied to Harborne’s investment interests.
In May, the UK government unveiled draft legislation aimed at tightening the reins on cryptocurrency operations within its borders. The move signalled the country’s closer cooperation with the United States instead of following the European Union’s approach to digital assets.
UK Finance Minister Rachel Reeves announced legislation that will extend current financial regulations to crypto companies within the country by this year’s end. The proposed rules will bring crypto exchanges, dealers, and agents under the purview of financial regulators.
To put this in context, according to recent government data, 12 percent of British adults now own or have previously owned cryptocurrencies like Bitcoin or Ethereum, triple the figure from 2021.
Japan is reportedly preparing a sweeping overhaul of its cryptocurrency regulatory framework, with the Financial Services Agency (FSA) advancing plans that would require exchanges to hold substantial liability reserves to protect users from hacks, insolvencies, and technical failures. According to Crypto News Australia, the proposed legislation, expected to be submitted to parliament in 2026, would mark one of the most significant regulatory shifts since Japan first introduced its crypto exchange licencing system after the Mt. Gox collapse.
Under current rules, Japanese exchanges can avoid reserve obligations by storing customer funds in offline cold wallets. The FSA now intends to remove this exemption, forcing platforms to maintain financial reserves—mirroring the requirements imposed on traditional securities firms, which must hold between US$12.7 million and US$255 million depending on trading activity.
To ease operational burdens, the framework may allow exchanges to purchase insurance instead of maintaining full cash reserves. The legislation would also establish clear procedures for returning customer assets during insolvency, granting administrators stronger intervention powers.
The change follows a number of widely reported cyberattacks that revealed weaknesses in the industry. North Korean hackers stole 4,502 BTC (about US$305 million) from DMM Bitcoin in 2024. Bybit lost US$1.46 billion in one of the biggest breaches in cryptocurrency history in February 2025. Systemic dangers were also highlighted by smaller occurrences, such as the US$21 million theft from SBI Crypto in 2025.
The FSA says liability reserves are designed to ensure user losses are fully compensated—akin to traditional bank protection models.
The liability reserve proposal is part of a wider regulatory overhaul the FSA is drafting. Last week, the Asahi Shimbun reported that the agency is preparing to classify cryptocurrencies as “financial products” under the Financial Instruments and Exchange Act—a move that would significantly increase compliance obligations for exchanges, institutions, and traders.
If accepted, digital assets would be handled similarly to securities, with more precise regulations governing disclosures, trading behaviour, and investor protection.
The FSA intends to mandate that exchanges release comprehensive information about each of the 105 authorised tokens, such as the blockchain’s technical details, volatility and risk metrics, and whether the token has a known issuer.
The goal is to boost transparency and help traders make informed decisions with standardised information across all listed assets.
The FSA also intends to apply insider trading laws to crypto markets, an unprecedented step in Japan. The rules would prohibit trading based on non-public information such as upcoming token listings or delistings, issuer financial distress, and major network upgrades or vulnerabilities
The aim is to reduce market manipulation and price swings caused by information asymmetry.
Another key proposal that was proposed a few days ago involves changing how crypto profits are taxed. The FSA is exploring a flat 20 percent tax rate, aligning crypto taxation with stocks.
Currently, gains are treated as miscellaneous income, with rates climbing to as high as 55 percent for top earners. The new structure would simplify filings and reduce tax burdens, particularly for active traders.
Japan is also reviewing rules that currently prohibit banks from holding digital assets. If restrictions are lifted, banks could offer:
This would accelerate institutional adoption and expand consumer access.
Major banks, including MUFG, Sumitomo Mitsui, and Mizuho, are already running stablecoin pilots to test operational and legal feasibility.
Meanwhile, the Japan Exchange Group (JPX) is preparing stricter listing rules for companies involved in crypto-related activities. The measures focus on preventing backdoor listings, regulating major corporate transformations tied to crypto and limiting fundraising heavily dependent on digital asset purchases At least three listed companies have paused digital asset acquisition plans following regulator warnings.
Japan’s approach prioritises strengthening oversight of the 105 tokens already approved, rather than expanding into thousands of global alternatives—aiming to create a more reliable and structured market.
Japan remains one of Asia’s most influential regulators in digital asset governance. Following the Mt. Gox collapse in 2014 and Coincheck’s 2018 hack, the country established stringent licensing and custody rules that set regional standards.
Other Asian markets are now tightening their frameworks:
– South Korea implemented the Virtual Asset Users Protection Act.
– Singapore strengthened conduct requirements under amendments to the Payment Services Act.
– Hong Kong introduced a licencing system allowing regulated retail crypto trading.
Swiss crypto-focused AMINA Bank AG has become the first international bank to receive approval from Hong Kong’s Securities and Futures Commission (SFC) to offer institutional crypto trading and custody services, marking a major milestone in the city’s push to attract global digital-asset firms.
The SFC granted AMINA a “Type 1 licence uplift,” enabling its Hong Kong entity to provide trading and custody for 13 cryptocurrencies, including Bitcoin, Ether, USDC, Tether, and leading DeFi tokens. At a time when compliance on-ramps are still scarce due to Hong Kong’s stringent regulatory framework, the permission grants institutions access to bank-grade cryptocurrency infrastructure.
AMINA’s licence arrives during a significant expansion of the region’s crypto market, as reported by Crypto News. The bank reported a 233 percent increase in trading volumes on Hong Kong platforms in the first half of 2025 compared to the previous year, underscoring renewed institutional appetite following the city’s regulatory overhaul.
Michael Benz, AMINA’s Hong Kong head, said the enhanced licence positions the bank to branch out into private funds, structured products, derivatives, and tokenised real-world assets, which he expects to drive the next wave of institutional demand.
The clearance supports Hong Kong’s plan to separate itself apart from uncontrolled markets by creating an institution-friendly, closely monitored digital asset ecosystem. Since 2022, the city has implemented stablecoin regulations, authorised its first Solana ETF before the US, and established an exchange licensing system.
Local players such as HashKey and Tiger Brokers have already obtained approvals, but AMINA is the first foreign bank to secure the uplift needed to serve institutional crypto clients.
Regulators have signaled continued openness to responsible innovation, even while tightening certain self-custody requirements to curb cybersecurity risks.
The approval of AMINA coincides with Hong Kong’s preparations for a significant revision of the regulations governing cryptocurrency trading. By enabling approved exchanges to connect with international order books, the SFC intends to abolish the city’s historically isolated trading paradigm and bring digital asset markets into line with conventional finance.
SFC Chief Executive Julia Leung announced the shift during Hong Kong Fintech Week, framing it as a key step in boosting liquidity and reinforcing the city’s role as a regional crypto hub.
Alongside this change, Hong Kong is finalising licensing frameworks for crypto brokers, custodians, and stablecoin issuers, potentially opening more pathways for global firms such as Binance or Coinbase to enter the market.
Meanwhile, in June, stablecoins gained sudden prominence within China’s financial and technology sectors. Hong Kong’s financial sector is also experiencing a shift as major institutions respond to the city’s new stablecoin framework. Among these, the Hong Kong branch of Standard Chartered has partnered with Web3 company Animoca Brands to develop a stablecoin backed by the Hong Kong dollar. Anchorpoint Financial Limited, a joint venture intended to function within Hong Kong’s changing regulatory environment, was established as a result of this cooperation.
With institutions increasingly seeking compliant digital-asset exposure, AMINA’s arrival offers Hong Kong fresh momentum in its effort to cement itself as a global centre for regulated crypto finance.
Japan’s Financial Services Agency (FSA) is preparing to update its cryptocurrency regulations. The agency is drafting a proposal to classify digital assets as “financial products” under the Financial Instruments and Exchange Act, as reported by the Asahi Shimbun. If implemented, the plan would subject cryptocurrencies to more stringent legal and compliance frameworks, which would affect financial institutions, traders, and exchanges nationwide.
The FSA is proposing to classify cryptocurrencies as financial instruments under the Financial Instruments and Exchange Act. The move would subject digital assets to stricter regulatory oversight and provide clearer rules for institutional and investor participation.
The FSA plans to require crypto exchanges to publish detailed disclosures for all 105 approved tokens. Exchanges would need to provide information on whether a token has an identifiable issuer, technical details of its blockchain, and volatility and risk metrics. The aim is to improve transparency and help traders make informed decisions by ensuring every listed cryptocurrency includes clear, standardised data.
For the first time, the FSA intends to apply insider trading laws to cryptocurrencies. The proposed regulations would forbid trading on the basis of non-public information, such as impending listings or delistings, issuer financial problems, or significant network modifications. In addition to addressing price fluctuations caused by information breaches and asymmetry in the cryptocurrency industry, the policy seeks to reduce market manipulation.
The FSA has proposed changing how crypto gains are taxed by introducing a flat 20 percent rate, similar to stock taxation. Currently, profits are treated as miscellaneous income, with rates reaching up to 55 percent for high earners. The new model aims to simplify taxation and reduce the burden on traders.
Additionally, Japan is considering removing regulations that prohibit banks from storing cryptocurrency. Banks are currently prohibited from holding digital assets because of concerns about risk and volatility. Banks might offer cryptocurrency trading services, custody solutions, and retain Bitcoin and other tokens if the regulations change. Retail clients would have easier access to digital assets as a result.
The Japan Exchange Group (JPX) is planning stricter listing rules for companies involved in crypto-related activities. Proposed measures target backdoor listings and major corporate transformations linked to digital assets. Regulators have also warned firms that fundraising could face limits if it relies heavily on crypto purchases. At least three listed companies have paused plans to acquire digital assets after these concerns.
The overhaul aims to improve transparency through clearer disclosures, insider trading safeguards, and tax clarity. Japan is focusing on stronger oversight of the 105 tokens already listed rather than adding thousands of global alternatives. This approach is intended to create a more structured and reliable market.
Japan is reinforcing its position as a key regulator in Asia’s crypto market. After the Mt. Gox collapse in 2014 and the Coincheck hack in 2018, the country introduced licensing for exchanges and strict custody rules.
Other Asian markets are following suit. The Virtual Asset Users Protection Act was put into place in South Korea to deal with reserve management and insider trading. Singapore is tightening its requirements for company conduct by improving its Payment Services Act. Hong Kong has adopted a different strategy, permitting retail cryptocurrency trading under a licensing system designed to attract international exchanges.