A 39-member coalition including Nasdaq urged the EU to fast-track DLT pilot changes, warning Europe could lose ground to the US in tokenized finance. A group of European financial companies and industry bodies have urged European Union officials and lawmakers to fast-track changes to blockchain rules, warning the region risks falling behind the US in tokenized finance. In a joint letter on Tuesday, 39 signatories, including Nasdaq and Boerse Stuttgart, called on the European Commission and Parliament to carve out the DLT Pilot Regime from a broader legislative package and review it as a standalone law, according to a copy of the letter shared by crypto association Adan. The group argued that folding the regime into the wider Market Integration and Supervision Package could delay reforms needed to keep pace with global developments. “Negotiations are likely to be lengthy,” the letter, addressed to Financial Services Commissioner Maria Luis Albuquerque, said, adding that delays “risk dampening Europe’s momentum...
The UK government plans a stablecoin and tokenization rules overhaul, appointing former FCA official Chris Woolard to support work on its digital markets strategy. The United Kingdom is revisiting its payments rulebook to support the adoption of new fintech and payment technologies such as stablecoins and tokenization. In a Tuesday announcement, HM Treasury and Economic Secretary to the Treasury Lucy Rigby said the government will consult on reforms for payment services and electronic money rules. The Treasury said the changes are meant to create a single framework for traditional and tokenized payments, including stablecoins and tokenized deposits. It also said it plans to bring forward legislation to reduce administrative burdens for companies seeking to offer stablecoin payment services. Read more
South Korea's tax authority is looking to build crypto transaction tracking software that can help track potential tax evaders. South Korea’s National Tax Service (NTS) has opened a tender for software licenses to track virtual asset transactions as part of tax evasion enforcement, according to a government procurement notice. The notice said the contract is for “virtual asset tax evasion response transaction-tracking software licenses,” with a budget of 146.5 million won (around $99,500), including value-added tax and delivery due within 30 days of contract signing. Bid submissions are scheduled for April 28 to April 30, with proposal evaluation set for May 7. The procurement notice itself gives limited detail on the software’s technical scope. However, citing an official from the NTS scientific investigation unit, local outlet ZDNet Korea reported that the software would allow officials to monitor crypto transactions in real time, visualize transfers between specific wallet addresses and exchanges, and supp...
Private key compromises led crypto hack losses over the past decade as recent DeFi exploits show attackers moving beyond smart contract bugs. Private key compromises are emerging as one of crypto’s costliest attack vectors, with hackers stealing more than $17 billion across 518 recorded incidents over the past decade, according to data platform DefiLlama. In data shared Tuesday, DefiLlama’s dashboard shows a large share of those incidents stemmed from compromised private keys, alongside phishing and other credential-based attacks. Around 22.3% of the incidents were attributed to private key compromises through “brute force,” 18.2% to private key compromises via “unknown methods,” and 10% occurred due to phishing attacks on multi-signature wallets. Read more
Matter Labs’ Alex Gluchowski says Canton isn’t a blockchain, while Digital Asset co-founders argue public chains aren’t that different. Banks are moving onchain through competing models that take different approaches to how financial rules are enforced. On the one hand are blockchain-native builders like Matter Labs co-founder Alex Gluchowski, who argue that financial systems require rules to be enforced across all participants. On the other are networks built for institutions like Canton, which prioritize privacy, control and interoperability over global state. Gluchowski is among the most vocal critics of the latter approach, arguing it reproduces the limitations of traditional finance in a new form. The core of the critique is whether rules can be enforced across an entire network. That’s not possible in systems like Canton, he claimed. Read more
Most XRP investors are back in profit, increasing the chance for a rally to $2.24, but bulls must first hold the price above $1.40. XRP’s (XRP) 28% rebound from its macro low at $1.12 pushed it above its realized price. In other words, the average XRP holder is no longer in the red. Is this enough fuel for the bulls to push the altcoin’s price to $2.24? Key takeaways: Read more