Participating banks will test post-quantum wallets and onchain transfers while regulators from Abu Dhabi, Bhutan and Malta initially observe. Banks and financial regulators across Europe, the Middle East and Asia have joined a pilot testing quantum-resistant infrastructure for digital asset wallets and onchain transfers. The Responsible Fintech Institute (RFI) and crypto custody infrastructure provider Safeheron announced the initiative on Monday. The pilot uses a multiparty computation protocol supporting ML-DSA-65, a post-quantum digital signature standard published by the US National Institute of Standards and Technology, on a quantum-resistant NEAR testnet. Read more
Existing virtual asset providers must apply for an NOC by Sept. 5 or cease operations under Pakistan’s new regulatory framework. Pakistan’s Virtual Assets Regulatory Authority (PVARA) has opened its licensing portal after notifying regulations governing crypto exchanges and other virtual asset service providers (VASPs) operating in the country. Companies providing virtual asset services on or before March 5 must submit an application for a no-objection certificate (NOC) by Sept. 5 or cease operations, according to the PVARA licensing website. Operating after the deadline without submitting an application will constitute an offense, PVARA said in a Saturday press release published by the Associated Press of Pakistan. “The licensing window is officially open, creating a clear pathway for businesses to enter Pakistan’s regulated virtual asset market, with defined standards for consumer protection, governance, compliance and market integrity,” PVARA said on LinkedIn. Read more
Term permanently closed its Meta Vaults after an attack reportedly removed nearly all of their Ethereum deposits. Decentralized lending protocol Term Finance lost an estimated $8.5 million after an attacker exploited governance control of its strategy vaults, according to blockchain security firms. On Sunday, PeckShield said the attacker drained about 2,843 Ether (ETH), valued at $6.87 million at the time, and 1.68 million USDC, which was exchanged for approximately 1.68 million Dai (DAI). CertiK made a similar estimate, placing the total loss at around $8.5 million. The reported loss represented about 68% of the $12.45 million held in Term’s vault product before the attack, including nearly all of its approximately $8.8 million in Ethereum deposits, according to Defillama data. Read more
The US may face a debt crisis within three years according to Ray Dalio, and debt-related issues helped fuel a rally in Bitcoin that could mark the beginning of a new cycle. Confidence has returned to crypto markets after Bitcoin saw a sudden rally to gain more than 23% this week to trade around $77,559 at the time of writing. It was the best weekly percentage gain (23.5%) since March 2023 and the largest weekly gain measured in US dollars. The price briefly topped $79,000 on Friday. Charting platform Barchart highlighted on Thursday that Bitcoin’s (BTC) price had crossed above its 200-day moving average for the first time since November 2025. The 200-day moving average is widely used to gauge longer-term market trends, with moves above the indicator viewed as a sign of bullish momentum. Many now believe/hope the cycle has finally flipped positive. Read more