South Korean lawmaker’s bill would make ICOs legal again. Chinese state firm deletes posts about $70M worth of RWAs on Ethereum. Asia Express. A South Korean lawmaker has introduced draft legislation to create a framework for cryptocurrencies, including legalizing initial coin offerings (ICOs) and setting rules for stablecoin issuance. The proposal, announced Thursday by ruling Democratic Party lawmaker Lee Kang-il, would lift South Koreas ban enacted in 2017 during a speculative frenzy remembered as the ICO boom. The prohibition pushed Korean projects to launch tokens overseas. Lees bill seeks to replace the blanket prohibition with a disclosure-based regime. The draft law defines the digital asset sector as an independent industry, dividing it into nine business categories that include trading, brokerage, custody, payments and investment management. Trading and brokerage firms would require licenses, while other activities would operate under a registration system. Read more
South Korean lawmaker’s bill would make ICOs legal again. Chinese state firm deletes posts about $70M worth of RWAs on Ethereum. Asia Express. A South Korean lawmaker has introduced draft legislation to create a framework for cryptocurrencies, including legalizing initial coin offerings (ICOs) and setting rules for stablecoin issuance. The proposal, announced Thursday by ruling Democratic Party lawmaker Lee Kang-il, would lift South Koreas ban on ICOs. The nation banned the fundraising method in 2017 during a speculative frenzy remembered as the ICO boom. The prohibition pushed Korean projects to launch tokens overseas. Lees bill seeks to replace the blanket prohibition with a disclosure-based regime. The draft law defines the digital asset sector as an independent industry, dividing it into nine business categories that include trading, brokerage, custody, payments and investment management. Trading and brokerage firms would require licenses, while other activities would operate under a registration system. ...
Boerse Stuttgart has launched Seturion, a blockchain-based platform to unify settlement of tokenized assets across Europe. Boerse Stuttgart Group, Europe’s sixth-largest exchange operator, has launched a blockchain-based settlement platform designed to handle cross-border transactions of tokenized assets across the region. According to a Thursday announcement, the platform targets banks, brokers, trading venues and tokenization platforms. The system supports both public and private blockchains, with settlement possible in central bank money or on-chain cash. The platform, called Seturion, has already been tested by local banks as part of blockchain trials conducted with the European Central Bank (ECB). Read more
The FRNT stablecoin, backed by the US state of Wyoming, reportedly went live on seven blockchains at its August launch. The Frontier Stable Token (FRNT), a stablecoin authorized by the US state of Wyoming, will soon be available on the Hedera blockchain after its mainnet launch in August. In a Thursday notice, Hedera said the Wyoming Stable Token Commission — the body responsible for issuing the stablecoin — had selected the blockchain as a candidate for FRNT following a review of possible networks, and approved the proposal. The stablecoin reportedly went live on seven blockchains at launch: Ethereum, Solana, Arbitrum, Avalanche, Polygon, Optimism and Base. Read more
Stripe and Fireblocks networks will go up against crypto-native players such as Ripple and Stellar, as well as established global processors like Visa. The race to build global stablecoin payment rails is accelerating as traditional finance and crypto infrastructure companies bet on global money flow. On Wednesday, blockchain infrastructure provider Fireblocks announced a global stablecoin payment network focused on compliance and connectivity, while Stripe CEO Patrick Collison unveiled Tempo, a new layer-1 blockchain designed for stablecoin transactions. Fireblocks’ new stablecoin network is focused on interoperability for “programmable, compliant, real-time money movement," said Ran Goldi, Fireblocks’ senior vice president of Payments and Network. Read more
The deal expands Kraken’s trading infrastructure push following its $1.5B NinjaTrader acquisition in May 2025. Kraken has stepped into proprietary trading with the acquisition of Breakout, a Tampa, Florida startup that backs traders with capital. In a Thursday announcement, crypto exchange Kraken announced the acquisition of Breakout, a startup that backs traders with up to $200,000 in capital under a “rigorous evaluation” methodology that tests risk management and strategy discipline. “Breakout gives us a way to allocate capital based on proof of skill rather than access to capital itself… We want to build systems that reward demonstrated performance, not pedigree,” Kraken's co-CEO Arjun Sethi said in a statement. Read more