The Hong Kong Monetary Authority (HKMA), the special administrative region’s central banking authority, has finalized its regulatory framework for stablecoin issuers, releasing two sets of guidelines that will take effect on Aug. 1. On Tuesday, the HKMA released completed guidelines and consultation conclusions to clarify the upcoming rules. The documents addressed the supervision of licensed…
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Layer-2 blockchain network Build on Bitcoin (BOB) has rolled out a major technical upgrade that brings it closer to getting a fully decentralized mark on L2Beat, a platform that ranks the maturity and decentralization of layer-2 networks. BOB, which aims to bring Ethereum-style decentralized finance (DeFi) capabilities to Bitcoin, has implemented zero-knowledge (ZK) fraud proofs…
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Hong Kong will start enforcing its Stablecoin Ordinance on Aug. 1, making it illegal to offer or promote unlicensed fiat-referenced stablecoins (FRS) to retail investors. The new law introduces criminal penalties of up to a level five fine of 50,000 Hong Kong dollars (about $6,300) and a maximum sentence of six months imprisonment. The Hong…
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JPMorgan Chase is reportedly looking into crypto-backed loans, signaling a potential shift in how US banks regard crypto assets. The Financial Times reported on Tuesday, citing unidentified sources, that JPMorgan may start lending directly against crypto assets like Bitcoin (BTC) and Ether (ETH). The FT reported this may happen by 2026, though the plans are…
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Web3 venture firm Hashed Emergent and policy advisory group Black Dot have released a model crypto law aimed at clarifying India’s regulatory framework around digital assets. Announced Monday, the Crypto-systems Oversight, Innovation and Strategy (COINS) Act offers a legislative blueprint to support a clearer, industry-led policy environment for crypto in India. The model law is…
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The US Securities and Exchange Commission (SEC) met with industry players to discuss a token standard to support the compliant issuance and transfer of tokenized securities. The SEC’s Crypto Task Force met with Ethereum-aligned organizations on Thursday, including the ERC-3643 Association, Chainlink Labs, the Enterprise Ethereum Alliance and Linux Foundation (LF) Decentralized Trust. During the…
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A crypto key opinion leader in India said the government will be unable to suppress crypto as digital-asset demand increases. Speaking to Cointelegraph at the Binance Crypto-Powered Tour in Bhutan, Sujal Jethwani, a crypto educator with a community of about 400,000 across social media, expressed optimism that the Indian political landscape will change as more…
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Opinion by: Ezra Reguerra, journalist at Cointelegraph The Kingdom of Bhutan’s openness to dive into Web3 technology creates an opportunity to build a blockchain-based identity infrastructure and modernize the nation’s approach to digital identity. Bhutan is a Himalayan country where modernization is paced and driven by its culture and values. Its Gross National Happiness (GNH)…
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Smart contract and asset issuance system RGB Protocol said it had launched on the Bitcoin mainnet, enabling tokenized assets like stablecoins, non-fungible tokens (NFTs) and custom tokens within the Bitcoin ecosystem. On Thursday, the protocol announced that tokenization tools allowing users to create, send and manage digital assets on Bitcoin and the Lightning Network were…
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A South Korean court acquitted Jang Hyun-guk, the former CEO of blockchain gaming firm Wemade, of manipulating the WEMIX crypto token’s circulation. On Tuesday, local news outlet News1 reported that the Seoul Southern District Court ruled Jang did not intend to influence crypto market prices using deceptive means. This ruling cleared him of violating the…
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