Nigeria is rolling out a new approach to cryptocurrency oversight that relies on tax and identity systems rather than blockchain surveillance, as part of a sweeping reform of its tax regime. Under its newly implemented tax reforms, crypto service providers are required to link transactions to Tax Identification Numbers (TINs) and, where applicable, National Identification…
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Thailand has launched a campaign against so-called “gray money,” tightening oversight across physical gold markets and digital assets as part of an effort to close money-laundering loopholes, according to local reports. The push, reportedly ordered by Prime Minister Anutin Charnvirakul, brings traditionally separate asset classes under a single framework to combat illicit finance. Local media…
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A new US Senate CLARITY Act draft allows crypto companies to offer activity-based rewards to stablecoin users. The proposal, titled the Digital Asset Market Clarity Act, reveals that certain rewards and incentives tied to the use of stablecoins would be permitted. Still, the provision notes that offering rewards does not cause a stablecoin to be…
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A Tennessee federal judge has temporarily stopped state regulators from taking action against the prediction markets platform Kalshi, which had sued the state after being ordered to cease offering sports event contracts. In an order on Monday, Judge Aleta Trauger supported Kalshi’s earlier motion for a preliminary injunction and temporary restraining order against the Tennessee…
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US Securities and Exchange Commission chair Paul Atkins says he is confident that the crypto market structure bill will make it onto US President Donald Trump’s desk this year. In an interview with Fox Business on Monday, Atkins discussed the regulatory outlook for crypto this year. Atkins praised the passing of the GENIUS act in…
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The US banking industry has been pushing “myths” about stablecoin yields to protect itself, and Congress should prioritize consumers rather than highly profitable banks, argues crypto lecturer and author Omid Malekan. “I am disappointed that market structure legislation seems to be held up by the stablecoin yield issue. Most of the concerns bouncing around Washington…
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The US Senate Agriculture Committee has pushed its markup of the crypto market structure bill to the end of January, saying it needs more time to garner support for the legislation. Committee Chairman John Boozman said on Monday that he wanted to advance a bipartisan-supported bill and has “made meaningful progress and had constructive discussions…
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US Senators Cynthia Lummis and Ron Wyden have introduced standalone legislation to ensure that blockchain developers and service providers who don’t directly handle user funds are exempt from money transmitter regulations. The Blockchain Regulatory Certainty Act (BRCA), introduced by Lummis and Wyden on Monday, aims to clarify that writing software or maintaining networks doesn’t trigger…
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Key takeaways: Institutional investors selling Bitcoin is visible through the Bitcoin ETFs recording $1.38 billion in net outflows across four trading sessions. BTC futures data shows a neutral 5% basis rate, well below the 10% level that typically defines a true bullish breakout. Bitcoin (BTC) price briefly jumped above $92,000 on Monday after US federal…
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Paul Atkins, chair of the US Securities and Exchange Commission (SEC), didn’t rule out the possibility of authorities seizing Venezuela’s reported Bitcoin holdings after US forces unseated and captured the country’s president. In a Monday interview with Fox Business’ Stuart Varney, Atkins responded to reports claiming that Venezuela holds up to $60 billion worth of…
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