Hong Kong will begin enforcing its new stablecoin regulations on Friday, with a six-month transition period allowing temporary licenses for issuers.
Policy News
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Indonesia’s Finance Ministry raised taxes for crypto miners and sellers, while exempting some crypto transactions from VAT.
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China’s JD.com announced plans for a Hong Kong dollar stablecoin last summer and is now expected to be among the first issuers under HKMA’s stablecoin regime.
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The HKMA completed stablecoin regulations set to take effect Aug. 1, warning no licenses have been issued and urging caution against hype and scams.
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Vietnam will use the NDAChain network to power a decentralized identity solution that allows digital contract signing and counterparty verification.
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Nigeria’s SEC Director-General Emomotimi Agama said the country welcomes stablecoin firms, marking a shift toward supportive crypto policy.
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FTX’s next $1.9 billion distribution may include repayments to jurisdictions questioned in an earlier motion that is being rewritten, creditors say.
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Starting Aug. 1, offering or advertising unlicensed stablecoins to retail investors in Hong Kong could get violators a 50,000 Hong Kong dollar fine and six months in jail.
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In addition to its presence in the EU, CoinShares has expanded in the US market since entering it in 2023, aiming to compete with major industry peers.
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South Korea’s FSS advises fund managers to limit ETF exposure to crypto firms like Coinbase, citing caution as regulatory rules are still evolving.
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Western Union is exploring stablecoin integration for cross-border transfers, conversions and digital wallets, positioning it as an innovation opportunity.
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Hashed Emergent’s Vishal Achanta told Cointelegraph that COINS Act aims to turn India from a “regulatory minefield” into a destination of choice for the crypto community.
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Chinese blockchain Conflux launched Conflux 3.0 network and unveiled a new offshore yuan-backed stablecoin targeting “Belt and Road” cross-border payments.
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ERC-3643 Association president Dennis O’Connell told Cointelegraph the SEC showed “a noticeable shift in tone” and openness to blockchain standards.
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The FHFA directive on crypto in mortgage risk assessments risks excluding self-custodied assets, potentially increasing counterparty risk for homebuyers.
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