Digital business models

Major DeFi sites lose access in Turkey’s new crypto rules

Turkey’s Capital Markets Board blocked access to 46 crypto platforms, including PancakeSwap. The move aims to control the rapidly growing digital asset market and enforce new regulations.

Since gaining expanded authority in March 2025, the CMB requires all crypto providers in Turkey to register locally and follow strict anti-money laundering and consumer protection rules.

Key rules include ID checks for transactions above 15,000 lira, stablecoin transfer limits, and withdrawal delays for some activities.

Turkey’s approach mirrors moves by other nations such as Kazakhstan and Russia, which have taken firm steps to regulate crypto markets. While trading and holding cryptocurrencies remain legal, payment use has been banned since 2021.

The latest crackdown signals Turkey’s intent to control and formalise crypto operations, steering away from the open nature of decentralised finance towards a more regulated environment.

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Bitcoin becomes cornerstone of Musk’s America Party

Elon Musk has announced that Bitcoin will serve as the primary financial asset of his new America Party, marking a move away from traditional currencies. His statement reflects rising distrust in fiat money, which he called ‘hopeless’ due to inflation and debt concerns.

The formation of the America Party follows a political rift between Musk and Donald Trump, triggered by disagreements over economic legislation. The break from the president has given rise to a new political force that sees decentralised finance as a pathway to reform.

Bitcoin’s adoption signals a broader push for transparency and innovation in governance. Musk has long supported digital assets and aims to build a platform encouraging financial sovereignty.

His stance may influence political agendas and regulatory discussions in the months ahead. In addition to Bitcoin, Musk remains a vocal supporter of Dogecoin, pointing to a vision of a multi-asset digital economy.

The America Party’s crypto-centric approach could accelerate mainstream adoption while placing pressure on policymakers to provide more explicit rules for digital finance.

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Secret Service step up crypto enforcement with major recoveries

Authorities in the United States have confiscated close to $400 million in digital currencies tied to criminal investigations over the last ten years. The bulk of these assets is secured in a government-controlled cold wallet.

A significant portion, worth $225 million, was recovered in June through a joint operation involving the FBI and legal offices. The effort reflects growing proficiency in tracking crypto-linked criminal activity across blockchain networks.

Secret Service has delivered cryptocurrency crime training in more than 60 countries to support global cooperation. These educational efforts are part of a broader strategy to strengthen international capabilities against financial fraud and cybercrime.

The agency also collaborates with private companies to improve its crypto crime efforts. Coinbase has assisted in tracing transactions, while Tether recently granted freezing access to the Secret Service and FBI.

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Trump’s Big Beautiful Bill could spark a blockchain reset

A new analysis by crypto commentator Stellar Rippler suggests that Donald Trump’s latest economic legislation may be part of a calculated effort to dismantle the current financial order.

Far from merely restoring the economy, the bill is viewed as a trigger for a major reset, where blockchain technology plays a leading role.

The bill introduces sweeping permanent tax cuts and significant Medicaid and food stamp program reductions. It also increases border spending and lifts the debt ceiling significantly.

Critics, including Elon Musk and Senator Rand Paul, warn that the legislation benefits the wealthiest and adds trillions in debt. Stellar Rippler, however, believes the move is deliberate, designed to weaken the central banking model and make way for digital alternatives.

XRP, RLUSD, and Stellar’s XLM are seen as the tools to facilitate this transition. With Ripple’s dual-ledger model and Stellar’s established international network, these assets are positioned to provide faster, cheaper, and decentralised alternatives to existing systems.

The analyst argues that blockchain projects already integrated into key markets can stabilise cross-border payments and reduce reliance on failing banks.

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SK Telecom unveils $700B cybersecurity upgrade

SK Telecom has announced a major cybersecurity initiative worth KRW 700 billion, designed to restore trust and enhance information security after a recent incident.

The company’s new programme, called the Accountability and Commitment Program, includes four elements to protect customers and reinforce transparency.

A central part of the initiative is the Information Protection Innovation Plan, which involves a five-year investment to build a world-class cybersecurity system.

The project will follow the US National Institute of Standards and Technology’s Cybersecurity Framework and aims to position SK Telecom as Korea’s leader in information security by 2028.

To further support affected customers, the company is upgrading its Customer Assurance Package and introducing a Customer Appreciation Package to thank users for their patience and loyalty.

A subscription cancellation fee waiver has also been included to reduce friction for those reconsidering their service.

SK Telecom says it will maintain its commitment to customer safety and service reliability, pledging to fully address all concerns and enhance security and service quality across the board.

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Lummis unveils crypto tax reform bill

US Senator Cynthia Lummis has proposed a new crypto tax bill to modernise how digital assets are treated under US tax law. The legislation follows her earlier attempt to include it in the recently passed One Big Beautiful Bill Act, which did not succeed.

Now a standalone bill proposes a $300 crypto transaction exemption, ends double taxation for miners and stakers, and ensures crypto is treated like other financial assets. It also aims to expand securities lending rules to include digital assets, ensuring lending does not trigger tax liability.

Lummis, who chairs the Senate digital assets subcommittee, said the bill is designed to align US tax law with real-world digital use. She emphasised the need to remove outdated policies that hinder innovation and invited public feedback on the proposal.

The initiative joins a series of pending digital asset bills in the US Congress, including the CLARITY and GENIUS Acts. Lummis has also backed the Bitcoin Act, which would establish a national BTC reserve following Donald Trump’s return to office.

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India needs a quantum leap in defence AI, says LatentAI founder

Jags Kandasamy, founder of US-based defence tech company LatentAI, is working with Indian firms to pursue defence contracts, but says India must leapfrog forward in AI-enabled warfare. In an interview with HT, he outlined the challenges and opportunities in the India-US defence tech partnership.

At Aero India, Kandasamy saw an Indian Army prototype using computer vision on automated border weapons. While promising, the system’s heavy computing requirements limit scalability.

LatentAI, which helped the US Navy optimise AI models for underwater vehicles, offers solutions by compressing models to fit limited hardware. ‘Autonomous warfare is the future,’ he said, noting the impact of drones and AI on intelligence, targeting and surveillance.

Kandasamy’s India partner, InferQ, came through introductions by Forge Ventures, which works closely with Indian and United States defence departments. He said that government initiatives like INDUSX and IDEX are helping firms connect across borders, but procedural bottlenecks persist.

‘There’s no mechanism for non-Indian passport holders to get clearance,’ Kandasamy noted. ‘In the US, the process is transparent. Even Indian firms can’t see who makes the decisions.’

He recalled advising a founder who waited two years to get a prototype certified. ‘India can be a great proving ground, but the bureaucracy needs streamlining.’

On China, Kandasamy didn’t mince words: ‘China is a third-year PhD student in defence AI. India is in elementary school.’ He cited examples of China’s proactive investment in emerging tech from 2010, including personal offers to relocate his startups. ‘India needs to leapfrog like it did with telecom.’

Still, Kandasamy praised India’s IDEX programme for uncovering strong homegrown tech talent. ‘There are smart people and ideas, but they need support and scale.’

To improve bilateral cooperation, he suggested reciprocal security clearances and defining interoperability frameworks between US and Russian-origin systems in India. ‘India won’t abandon its Russian hardware. But if we can protect both sides’ secrets while working together, that would be real progress.’

‘India and the US are linchpins of a democratic society,’ he concluded. ‘We have to make this partnership work.’

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Vietnam adopts AI in elite sports training

Vietnam is integrating AI technology into its national sports training programmes to improve performance in international competitions. A new partnership between the Sports Authority of Việt Nam (SAV) and Dreamax Company will see AI applied from 2025 to 2030.

The Vietnamese technology will analyse performance data, monitor adaptation to training, and predict injury risk using devices that collect environmental and spatial indicators. The first implementations are set to begin next week, marking a shift towards data-driven performance evaluation and coaching.

SAV Director Nguyễn Danh Hoàng Việt said the initiative addresses outdated systems and builds on the country’s recent sporting successes by offering more sophisticated and personalised training. Dreamax stated that the AI system supports national management and provides public insight into sporting progress.

Collected data, managed as national security information, will be analysed to measure the programme’s impact over its first year. If successful, the AI-based approach may expand to other teams as Vietnam targets greater achievements in future Asian Games and Olympic events.

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Council of Europe picks Jylo to power AI platform

The Council of Europe has chosen Jylo, a European enterprise AI provider, to support over 3,000 users across its organisation.

The decision followed a competitive selection process involving multiple AI vendors, with Jylo standing out for its regulatory compliance and platform adaptability.

As Europe’s leading human rights body, the Council aims to use AI responsibly to support its legal and policy work. Jylo’s platform will streamline document-based workflows and reduce administrative burdens, helping staff focus on critical democratic and legal missions.

Leaders from both Jylo and the Council praised the collaboration. Jylo CEO Shawn Curran said the partnership reflects shared values around regulatory compliance and innovation.

The Council’s CIO, John Hunter, described Jylo’s commitment to secure AI as a perfect fit for the institution’s evolving digital strategy.

Jylo’s AI Assistant and automation features are designed specifically for knowledge-driven organisations. The rollout is expected to strengthen the Council’s internal efficiency and reinforce Jylo’s standing as a trusted AI partner across the European public and legal sectors.

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OpenAI rejects Robinhood’s token offering

OpenAI has publicly disavowed Robinhood’s decision to sell so-called ‘OpenAI tokens’, warning that these blockchain-based contracts do not offer real equity in the company.

In a statement posted on X, OpenAI made clear that it had not approved, endorsed, or participated in the initiative and emphasised that any equity transfer requires its direct consent.

Robinhood recently announced plans to offer tokenised access to private firms like OpenAI and SpaceX for investors in the EU. The tokens do not represent actual shares but mimic price movements using blockchain contracts.

Despite OpenAI’s sharp rejection, Robinhood’s stock surged to record highs following the announcement.

A Robinhood spokesperson later claimed the tokens were linked to a special purpose vehicle (SPV) that owns OpenAI shares, though SPVs do not equate to direct ownership either.

The company said the move aims to give everyday investors indirect exposure to high-profile startups through digital contracts.

Robinhood CEO Vlad Tenev defended the strategy on X, saying the token sale was just the beginning of a broader effort to democratise access to private markets.

OpenAI, meanwhile, declined to comment further.

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