Regulation & Policy

Hong Kong is set to issue its first stablecoin licenses under a new regulatory framework, with HSBC, Standard Chartered's Anchorpoint, and OSL Group in consideration. The regulations take effect in August 2025, allowing the Monetary Authority to license stablecoin issuers.

U.S. regulators move to tighten coordination as the SEC and CFTC launch a joint framework aimed at reducing regulatory conflicts, modernizing oversight, and shaping clearer rules for emerging financial markets, including crypto assets. Regulatory Turf Wars End as SEC and CFTC Coordinate

Bitcoin has recently rebounded strongly to $71,480, the U.S. CFTC released market manipulation risk guidance and is seeking public comments, and the SEC chair called for establishing an innovation exemption mechanism for security tokenization. Additionally, JPMorgan Chase faces a class action lawsuit, crypto market volatility and investor sentiment are gradually stabilizing, with expectations for potentially positive developments ahead.

FDIC Chair Travis Hill stated that stablecoins are not covered by deposit insurance and pointed out that the GENIUS Act draws a clear line between stablecoins and bank deposits, prohibiting pass-through insurance. Stablecoins require full reserve backing but cannot enjoy FDIC protection, sparking heated market discussions on yields and regulation. Additionally, tokenized deposits are still treated as traditional bank deposits and can enjoy insurance protection.

A certain CEX executive denied allegations of obstructing a tax-exempt policy for small Bitcoin transactions, stating that the exchange has been lobbying for it. Lawmakers are considering tax exemptions for stablecoins, but Bitcoin has not been included in the relevant legislation.

U.S. Senate Majority Leader John Thune stated that digital asset market structure legislation is not expected to advance before April, as the Senate will prioritize the Save America Act. This timeline differs from the expectations of the Ohio senator. While the Agriculture Committee has advanced the bill, the Banking Committee's proceedings have been delayed, and the White House has not reached any agreement.

The U.S. Senate has passed a bipartisan housing bill that prohibits the Federal Reserve from issuing a central bank digital currency (CBDC) through the end of 2030. The bill's prospects in the House remain uncertain, with some lawmakers opposing provisions that restrict institutional investors from holding property. The clause reinforces the position that the private sector should lead innovation in digital assets.

The U.S. Commodity Futures Trading Commission has issued guidance on prediction market manipulation risks, requiring exchanges to consult with regulators before launching markets susceptible to manipulation. The guidance indicates that if contracts contradict public interest, they may be blocked, and sports contracts should cooperate with leagues to prevent insider trading.

_Ghana’s SEC admits 11 firms into a 12-month VASP Act 2025 crypto sandbox, setting the stage for full digital asset licensing across West Africa._ Ghana’s Securities and Exchange Commission just moved. Eleven virtual asset service providers got access to a regulatory sandbox on March 10, 2026.

The Senate passed a housing bill that includes a ban on an American CBDC, lasting until 2031. The bill faces opposition in the House and potential reluctance from President Trump, complicating its path to law.

The U.S. Senate passed a housing bill that includes a provision banning the Federal Reserve from issuing a Central Bank Digital Currency (CBDC), with the ban lasting until the end of 2030. The bill's prospects in the House are uncertain, as some members oppose restrictions on the number of properties that large institutional investors can hold, which may affect the bill's progress.

Gate News reported that on March 12, U.S. Senate Majority Leader John Thune stated that the Senate plans to advance cryptocurrency market structure legislation and licensing-related legislation after completing debate on the (voter identification provisions) of the Save America Act. John Thune said that senators are pushing forward this long-awaited cryptocurrency market structure legislation and indicated that if there is bipartisan willingness to cooperate, the Senate can make progress on multiple issues of shared concern between the two parties. The Save America Act is expected to undergo partisan debate in the Senate next week.

The U.S. Securities and Exchange Commission (SEC) Chair Paul Atkins emphasized the concept of "minimum effective regulation" at a meeting on March 12, previewing the review of an innovative exemption framework for "tokenized securities" to promote the convergence of crypto assets and traditional finance. Atkins criticized past "shame-based regulation" and stressed the need to adjust compliance burdens based on company size. Additionally, he pointed out that the SEC will continue to hold meetings to gather public feedback in order to propose more effective regulatory rules.

U.S. SEC Chair Paul S. Atkins stated at a conference that the Commission will issue guidance on equity security tokenization, believing it will help improve settlement efficiency and reduce risk. He disclosed that the SEC will consider an "innovation exemption" mechanism that would allow specific tokenized securities transactions, providing practical foundations for a long-term regulatory framework.

The U.S. Securities and Exchange Commission and the U.S. Commodity Futures Trading Commission have signed a new memorandum of understanding aimed at strengthening coordination in areas where their regulatory authority overlaps, including emerging digital asset markets. The agreement, announced

Dispute over stablecoin reward programs between banks and crypto firms has slowed progress on the Senate Clarity Act. Banks warn rewards could trigger deposit flight, while crypto advocates say evidence of major shifts is limited. Lawmakers including Sens. Alsobrooks and Tillis are

The UK Tax and Customs Authority plans to procure blockchain forensics software to strengthen its efforts against digital asset money laundering and tax fraud, with a total value of approximately 3.42 million pounds and a three-year contract term. This move reflects global emphasis on digital asset compliance, highlighting the importance of cross-chain tracking and data analysis.

U.S. Commodity Futures Trading Commission Chairman Mike Selig announced the release of clear guidance targeting prediction markets to help trading platforms understand CFTC expectations for new contracts, ensure transparent rules, and prevent market manipulation and abusive conduct.

US CFTC Chair Mike Selig released prediction market guidance aimed at helping trading platforms understand regulatory expectations to ensure transparent rules for new contracts and prevent manipulation and abuse. Additionally, a proposed rule prenotice will be released to establish clear rules of conduct for new markets.

The ABA chair-elect warns that rising stablecoin use could harm U.S. banks by reducing deposits, impacting rural lending and community loans. Without regulation, banks may need to innovate to retain depositors and support local economies.