The FSC reportedly plans a government-backed digital asset bill covering stablecoins and exchanges, while opposition lawmakers seek to scrap a 22% crypto tax due in 2027. South Korea’s Financial Services Commission (FSC) reportedly plans to draft a consolidated Digital Asset Basic Act with the ruling Democratic Party, giving lawmakers a government-backed proposal covering stablecoins and the broader cryptocurrency market after months of delays. According to an Edaily report published Wednesday, the FSC told the National Assembly ahead of a policy briefing that it intends to introduce a consolidated bill. The proposal would reportedly cover stablecoin issuance and circulation, digital asset business rules, exchange entry requirements, disclosures, internal controls and system-resilience standards. A consolidated government-ruling party proposal could provide a central framework for negotiations. At the moment, 10 separate digital asset and stablecoin bills are already pending in Parliament, while disagreements...
The Bitcoin miner and AI infrastructure company closed at $62.90, giving it a market capitalization of about $2.8 billion after its direct listing. Ionic Digital shares climbed about 26% from their opening price in their Nasdaq debut Tuesday after the Celsius-linked Bitcoin miner and AI infrastructure company completed its direct listing. The shares opened at $50 and closed at $62.90, giving Ionic a market capitalization of about $2.8 billion based on approximately 44.9 million shares outstanding, according to its registration statement filed with the US Securities and Exchange Commission. Ionic was formed in 2024 to acquire Celsius Mining’s assets through the bankrupt crypto lender’s restructuring and has since expanded into AI and high-performance computing infrastructure. Read more
The agreement covers tokenized securities, blockchain-based market infrastructure and the potential use of USDT as a settlement layer. Tether signed a memorandum of understanding with the Nairobi Securities Exchange to explore tokenized securities, blockchain-based market infrastructure and the potential use of USDt (USDT) as a settlement layer. Tether said in a Tuesday announcement that the memorandum outlines plans to explore blockchain-based market infrastructure, digital asset education and real-world asset tokenization, including the potential use of its Hadron tokenization platform for issuing and trading tokenized securities. The memorandum also calls for the parties to assess instant settlement mechanisms and the potential use of USDT as a digital settlement infrastructure layer, where permitted under Kenyan regulations. Read more
The agreement covers tokenized securities, blockchain-based market infrastructure and the potential use of USDT as a settlement layer. Tether signed a memorandum of understanding with the Nairobi Securities Exchange to explore tokenized securities, blockchain-based market infrastructure and the potential use of USDt (USDT) as a settlement layer. Tether said in a Tuesday announcement that the memorandum outlines plans to explore blockchain-based market infrastructure, digital asset education and real-world asset tokenization, including the potential use of its Hadron tokenization platform for issuing and trading tokenized securities. The memorandum also calls for the parties to assess instant settlement mechanisms and the potential use of USDT as a digital settlement infrastructure layer, where permitted under Kenyan regulations. Read more
Zcash researchers published more than 2,700 machine-checked theorems designed to rule out undetectable counterfeiting bugs in Ironwood. Zcash researchers have completed formal verification of Ironwood, publishing a machine-checked proof that the network’s new shielded pool does not contain undetectable counterfeiting bugs under its stated cryptographic assumptions. On Tuesday, Project Tachyon said that the proof, written in the Lean programming language, comprises over 2,700 theorems and took three teams of researchers and cryptographers over a month to complete. The work establishes a security property known as balance integrity, designed to ensure the shielded pool cannot pay out more value than has publicly entered it. The researchers said the proof covers the components needed for that property, including Ironwood’s zero-knowledge proof system, circuit rules and ledger-level accounting. It does not cover Ironwood’s separate privacy guarantees. Read more
RL1 began operations as a member-owned blockchain cooperative backed by 10 European financial institutions, including ABN AMRO, DekaBank and Natixis CIB. Ten European financial institutions have launched Regulated Layer One (RL1), a jointly owned blockchain cooperative designed for regulated financial markets and tokenized assets. On Tuesday, the group announced that RL1 had been established as a European Cooperative Society in Luxembourg and had begun operations with founding members including ABN AMRO, Cecabank, Chartered Investment, Crédit Mutuel Alliance Fédérale, DekaBank, DZ BANK, LBBW, Natixis CIB, SC Ventures and Seturion. RL1 said each member will have equal decision-making rights over the network’s governance and development. Read more
RL1 began operations as a member-owned blockchain cooperative backed by 10 European financial institutions, including ABN AMRO, DekaBank and Natixis CIB. Ten European financial institutions have launched Regulated Layer One (RL1), a jointly owned blockchain cooperative designed for regulated financial markets and tokenized assets. On Tuesday, the group announced that RL1 had been established as a European Cooperative Society in Luxembourg and had begun operations with founding members including ABN AMRO, Cecabank, Chartered Investment, Crédit Mutuel Alliance Fédérale, DekaBank, DZ BANK, LBBW, Natixis CIB, SC Ventures and Seturion. RL1 said each member will have equal decision-making rights over the network’s governance and development. Read more
Myanmar lawmakers approved an anti-online scam bill whose draft proposed prison terms of 10 years to life for crypto scams and operating scam centers. Myanmar’s Parliament passed an anti-online scam bill that would impose prison terms of 10 years to life for crypto scams and operating online scam centers. The Pyidaungsu Hluttaw, Myanmar’s combined Parliament, approved the bill in its entirety on Tuesday after resolving differences between versions previously passed by its two chambers, according to the state-run Global New Light of Myanmar (GNLM). The report did not say whether the bill had received presidential assent or when it would take effect. The legislation is Myanmar’s latest attempt to curb a growing cyberscam industry that has turned parts of the country into hubs for online fraud. Read more
Visa said it is investing across the stablecoin stack, highlighting OpenUSD, tokenized deposits and AI-powered commerce during the company’s third-quarter earnings call. Visa reported fiscal third-quarter revenue of $11.6 billion, up 14% from a year earlier, driven by double-digit growth in payments volume, cross-border volume and processed transactions. During the company’s earnings call, Visa outlined its broader stablecoin strategy, saying it has been investing across multiple layers of the stablecoin ecosystem. The company said: Visa added that it had joined the OpenStandard consortium, which plans to issue the OpenUSD stablecoin for global money movement. The company said the Visa stablecoin platform is designed to enable partners to settle with Visa in stablecoins, provide onchain wallet-as-a-service infrastructure and move money between fiat currencies and stablecoins, beginning with OpenUSD. Read more
Visa said it is investing across the stablecoin stack, highlighting OpenUSD, tokenized deposits and AI-powered commerce during the company’s third-quarter earnings call. Visa reported fiscal third-quarter revenue of $11.6 billion, up 14% from a year earlier, driven by double-digit growth in payments volume, cross-border volume and processed transactions. During the company’s earnings call, Visa outlined its broader stablecoin strategy, saying it has been investing across multiple layers of the stablecoin ecosystem. The company said: Visa added that it had joined the OpenStandard consortium, which plans to issue the OpenUSD stablecoin for global money movement. The company said the Visa stablecoin platform is designed to enable partners to settle with Visa in stablecoins, provide onchain wallet-as-a-service infrastructure and move money between fiat currencies and stablecoins, beginning with OpenUSD. Read more