From custody standards to stablecoin oversight, India’s VDA review may help shape an investor-focused framework that brings crypto rules closer to global norms. With more than 100 million crypto users, India still lacks a comprehensive virtual digital asset (VDA) law. Existing rules address taxation and AML obligations, but they do not fully cover consumer protection or broader market conduct. Issues under discussion include the absence of unified investor-protection rules, unregulated trading practices and concerns that India’s 30% tax plus 1% TDS regime is pushing users to offshore platforms. Stakeholders are discussing a risk-based VDA framework, licensing requirements for exchanges and custodians, conduct-of-business standards, RWA-specific regulations and improved data and reporting systems. Read more
The European Central Bank said stablecoin risks in the euro area are limited, with crypto trading dominating use and retail adoption under 1%, while monitoring continues. Financial stability experts at the European Central Bank (ECB) said stablecoin-related risks in the euro area are limited due to low adoption and preventative regulation. The ECB on Monday published its financial stability review pre-release, devoting it to the growing market of stablecoins, which are digital assets pegged to the value of fiat currencies or commodities. Authored by ECB financial stability experts Senne Aerts, Claudia Lambert and Elisa Reinhold, the report questioned stablecoin use cases beyond crypto trading and highlighted their low financial stability risks in the euro area. Read more
Former Italian Prime Minister Matteo Renzi will join the Enlivex board to support its policy efforts in establishing the first corporate treasury holding a prediction market token. A Nasdaq-listed biotech firm is raising $212 million in a late-cycle pivot into crypto, planning to buy the token of a decentralized prediction market even as other digital-asset treasuries (DATs) struggle to stay afloat. Enlivex Therapeutics (ENLV), a clinical-stage macrophage reprogramming immunotherapy company, said on Monday it plans to raise $212 million through private investment in public equity, selling 212 million shares at $1 each. The price represents an 11.5% discount to Friday’s close, according to the company’s filing with the US Securities and Exchange Commission. The company plans to invest the majority of the $212 million in Rain (RAIN), the utility token behind the Rain decentralized prediction market on the Arbitrum network, marking the first corporate strategy centered on a prediction market token, according to ...