E-commerce and trade

Australia’s ASIC extends digital asset licensing relief

Australia’s financial regulator, the Australian Securities and Investments Commission (ASIC), has extended its sector-wide no-action position for digital asset businesses until 30 September 2026, giving firms more time to apply for or vary an Australian Financial Services (AFS) licence. The extension is designed to support a smoother transition into the country’s evolving regulatory framework for digital assets.

The updated position also broadens the scope of relief to cover businesses operating under authorised representative arrangements or intermediary authorisations linked to AFS licence holders. ASIC said the changes are intended to provide greater regulatory certainty while maintaining investor protection and market integrity during the transition.

The extended timeline also applies to applications for Australian Market Licences and Clearing and Settlement facility licences. Firms must notify ASIC of their intention to apply and participate in a pre-application meeting before submitting an application.

ASIC said it has received around 30 licence applications since updating its guidance on digital assets and financial products in October 2025. According to the regulator, extending the no-action position gives firms additional time to adapt to Australia’s evolving Digital Asset Framework and clarified legal requirements.

Why does it matter?

The extension provides digital asset businesses with additional time to adapt to Australia’s evolving regulatory framework without disrupting existing operations. By pairing temporary regulatory flexibility with a clear licensing pathway, ASIC is seeking to encourage compliance while maintaining investor protection and market integrity.

The move also reflects a broader international trend in digital asset regulation. Rather than imposing immediate, sweeping requirements, regulators are increasingly using phased implementation and transitional relief to bring crypto businesses into established financial regulatory frameworks while reducing uncertainty for market participants.

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European Banking Authority proposes framework for MiCA enforcement fines

The European Banking Authority (EBA) has launched a consultation on a draft methodology for calculating fines under the Markets in Crypto-Assets Regulation (MiCA), aiming to ensure penalties are applied consistently, proportionately and transparently.

Under MiCA, the EBA supervises issuers of significant asset-referenced tokens (ARTs) and e-money tokens (EMTs). The proposed methodology explains how fines would be calculated when issuers or members of their management bodies are found to have intentionally or negligently breached regulatory requirements.

According to the EBA, the methodology is intended to improve transparency and consistency in enforcement while helping market participants better understand how supervisory penalties are determined in practice.

The public consultation will remain open until 28 September 2026, with a virtual public hearing scheduled for 16 July. The EBA said all feedback will be published after the consultation as part of its continued implementation of the MiCA framework.

Why does it matter?

The consultation strengthens the enforcement framework underpinning MiCA by claryfing how financial penalties will be calculated for significant crypto-asset issuers. Greater transparency and consistency can improve legal certainty for firms while reinforcing confidence that supervisory actions will be applied fairly across the EU.

The proposal also reflects the continued integration of crypto-assets into mainstream financial regulation. As MiCA moves from rulemaking to supervision and enforcement, detailed methodologies such as this one demonstrate how EU authorities are building a more mature and predictable regulatory environment for digital assets.

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US community lenders oppose stablecoin provisions in crypto bill

US community banks are campaigning against digital asset legislation, arguing it could encourage customers to move deposits from local lenders into stablecoins.

The Independent Community Bankers of America, which represents about 4,000 community banks, has launched an advertising campaign targeting provisions in the Digital Asset Market Clarity Act. The group argues that the bill could allow crypto firms and intermediaries to offer rewards or incentives linked to stablecoin use.

ICBA says such incentives could accelerate deposit outflows from community banks, reducing their ability to lend to small businesses, farmers and local communities. Based on its analysis of industry research, the group estimates that stablecoin-related deposit shifts could reduce community bank deposits by $1.3 trillion and cut lending by $850 billion.

Community banks argue that they play a central role in local credit creation, including agricultural and small-business lending. Bank executives warn that if deposits move into stablecoins, lenders may need to rely on more expensive funding sources, raising borrowing costs and limiting access to credit.

Crypto industry supporters reject the criticism, arguing that the legislation would provide clearer federal rules for digital assets and expand consumer choice. They say banking opposition reflects concern over competition, while banking groups argue they are seeking equivalent regulatory standards rather than protection from innovation.

The dispute highlights a growing policy tension over stablecoins, deposit competition and the role of banks in local economies as US lawmakers consider broader digital asset legislation.

Why does it matter?

The debate shows that stablecoin regulation is not only about crypto market oversight or consumer protection. It also raises questions about the structure of credit creation in the US economy. If stablecoins become attractive alternatives to bank deposits, local lenders argue they could lose funding used for small-business, agricultural and community lending. Crypto supporters see the same issue as an opportunity for competition and innovation. The outcome could shape how digital assets interact with traditional banking, especially outside major financial centres.

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Amazon announces $48 billion investment in India by 2030

Amazon has announced an additional $13 billion investment to expand AI and cloud infrastructure in India, bringing its planned investment in the country to $48 billion between 2026 and 2030.

The company said the new funding will expand AWS data centre capacity in Mumbai and Hyderabad, giving startups, enterprises and government organisations access to AI chips, managed AI services, cloud technologies and developer tools.

The announcement builds on a $35 billion investment across Amazon’s businesses in India announced in 2025. Amazon said its cumulative investments in India from 2010 to 2030 now stand at more than $88 billion.

Beyond AI and cloud infrastructure, Amazon said it will continue investing in its e-commerce and logistics network. The company plans to launch more than 20 new fulfilment centres and over 100 last-mile delivery stations across India this year, with a focus on faster deliveries in smaller cities.

Amazon said it has digitised 12 million small businesses in India, supported 2.8 million jobs, enabled more than $20 billion in cumulative e-commerce exports and trained more than 10 million people in cloud skills.

The company said its long-term priorities in India include AI-led digitisation, export growth and job creation.

Why does it matter?

Amazon’s investment highlights India’s growing role as a major market for AI infrastructure, cloud services and digital commerce. Expanding AWS capacity in Mumbai and Hyderabad could strengthen access to AI compute and cloud tools for businesses, startups and public-sector organisations. The announcement also shows how global technology companies are linking data centre investment with national priorities such as small-business digitisation, skills development, exports and job creation.

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Russia expects delay in crypto market regulation bill

Russia’s Ministry of Finance expects a short delay in the adoption of a draft law that would create a legal framework for the country’s cryptocurrency market.

Alexey Yakovlev, director of the ministry’s financial policy department, told Interfax that the bill is largely ready, but is unlikely to be adopted by the initial 1 July 2026 target. He said the draft is expected to move to committee review before its second reading in the State Duma.

The bill, titled ‘On Digital Currency and Digital Rights’, was approved by the State Duma in its first reading on 21 April. It would allow citizens and companies to legally buy cryptocurrency through licensed intermediaries, including exchange operators listed by the Bank of Russia, brokers and trust managers.

Domestic payments in cryptocurrency would remain banned, keeping the rouble as the country’s only legal means of payment for goods and services.

The Bank of Russia had previously expected the law to enter into force on 1 July. The regulator planned to adopt implementing rules in the third quarter of 2026 so that the first legal cryptocurrency transactions could begin in the fourth quarter.

The delay comes as Russian regulators continue to shape a tightly controlled crypto framework. Separate reporting suggests authorities are also considering restrictions on cryptocurrency advertising, including limits on naming specific digital currencies in promotional materials.

The emerging model points to limited legal access to crypto through licensed intermediaries, while preserving strict state control over payments, advertising and market infrastructure.

Why does it matter?

Russia’s approach shows a shift from legal uncertainty towards controlled integration of digital assets. Rather than fully opening the crypto market or banning it outright, regulators are building a licensed system that allows investment and some regulated transactions while keeping domestic payments prohibited. The model reflects broader concerns over financial stability, consumer protection, capital flows and state oversight, especially in a sanctions-constrained economy.

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EU approves tariff package under US trade agreement framework

The Council of the European Union has formally adopted two regulations implementing tariff commitments under the EU-US Joint Statement of 21 August 2025.

The adoption completes the EU legislative process for the tariff package, which aims to support a stable and predictable transatlantic trade relationship while preserving safeguards for European economic interests.

The regulations remove remaining EU customs duties on US industrial goods and introduce preferential market access for selected US seafood and non-sensitive agricultural products through tariff-rate quotas and reduced tariffs.

The package also extends the suspension of duties on lobster imports, including processed lobster, from all countries under most-favoured-nation rules.

The regulations include strengthened safeguards and suspension mechanisms. These would allow the Commission to respond to significant import surges that cause or threaten serious injury to the EU operators, and to suspend tariff preferences if the US does not respect its commitments or disrupts balanced trade relations.

The regulations will enter into force the day after publication in the Official Journal. The main regulation will apply until the end of 2029, while the lobster regulation will apply retroactively from 1 August 2025 and expire on 31 July 2030 unless further action is taken.

The Council said EU-US trade in goods and services surpassed €1.7 trillion in 2025, underlining the scale of the transatlantic economic relationship.

Why does it matter?

The decision gives legal effect to the EU side of the tariff commitments in the 2025 EU-US Joint Statement. It shows how transatlantic trade policy is being managed through tariff reductions paired with safeguard tools, allowing the EU to preserve market access while retaining the ability to respond to disruption or non-compliance. For DW, the relevance is indirect but still useful: EU-US trade stability affects supply chains, industrial competitiveness and the broader economic environment in which digital and technology sectors operate.

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South Korea pushes Travel Rule expansion for crypto

South Korea’s Financial Intelligence Unit has called for wider application of the crypto Travel Rule during Financial Action Task Force discussions in Paris, urging stronger anti-money laundering controls for virtual asset transfers.

The FIU proposed expanding Travel Rule requirements to cover transfers below the current 1 million won threshold. South Korea already applies the rule to crypto transfers above that amount, requiring virtual asset service providers to share information about senders and recipients.

The FIU said lower-value transfers can be used to avoid reporting requirements by splitting larger transactions into smaller payments. It also warned that offshore and unregistered virtual asset service providers create regulatory gaps and opportunities for illicit finance.

South Korea and several other FATF members also recommended applying Travel Rule obligations to both sending and receiving virtual asset service providers. The proposal is intended to improve traceability across cross-border crypto transactions and reduce regulatory arbitrage.

The discussions came as FATF members reviewed global implementation of anti-money laundering standards for virtual assets. FATF said implementation remains a priority and approved further work on virtual assets and decentralised finance risks, with related reports expected to be published in July.

Why does it matter?

South Korea’s proposal shows how crypto AML policy is moving from basic exchange registration towards tighter monitoring of cross-border transfers and offshore platforms. If FATF standards evolve in this direction, crypto service providers could face broader data-sharing duties even for smaller transactions. The debate also matters for privacy and compliance costs, as stronger traceability requirements may increase oversight but also add friction to routine digital asset transfers.

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Digital trade agreement gains legal backing in Kyrgyzstan

Kyrgyz President Sadyr Japarov has signed a law ratifying the Digital Economy Partnership Agreement between member states of the Organisation of Turkic States.

The Jogorku Kenesh adopted the law on 3 June 2026 and approved the agreement signed in Bishkek on 6 November 2024. The presidential administration said it was the first law signed in a fully digital format in Kyrgyzstan.

The agreement aims to strengthen trade relations among Turkic states through e-commerce and broader digital-economy cooperation. It also seeks to increase consumer confidence in digital services and online transactions.

The partnership covers areas including electronic commerce, consumer protection in online trade, express delivery services, personal data protection and cooperation between business communities involved in e-commerce.

The move forms part of Kyrgyzstan’s wider digital transformation agenda and adds legal backing to a regional framework for digital trade cooperation among OTS members.

Why does it matter?

The ratification supports efforts to align digital trade rules among Turkic states and make cross-border e-commerce more predictable. The agreement is relevant because it links digital economy cooperation with consumer protection, data protection and delivery infrastructure, areas that are essential for trust in online trade. It also shows how regional organisations are developing their own digital trade frameworks alongside larger global and Asia-Pacific digital economy agreements.

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China advances tougher trademark protections targeting misleading practices

China is moving to strengthen trademark rules through a draft revision to the Trademark Law aimed at tackling misleading practices, bad-faith registrations and trademark hoarding.

According to China Daily, the draft revision is scheduled for further review by the Standing Committee of the National People’s Congress. The proposed changes would introduce stricter standards and procedures for trademark registration and use.

The draft would allow authorities to reject trademark applications filed without an intention to use the mark or beyond normal business needs. Violations that cause adverse effects could lead to warnings and fines of up to 100,000 yuan.

The proposal also targets deceptive trademarks that may mislead the public about a product’s quality or place of origin. If a registered trademark is used misleadingly, authorities could order corrective action, impose fines and revoke the trademark if violations are not corrected.

The draft would also strengthen oversight of trademark agencies and regulate trademark use in cyberspace. It includes measures to better protect the rights and interests of Chinese companies expanding overseas.

China is also developing a unified trademark registration and application platform to make trademark searches and related services easier for the public.

Why does it matter?

The draft revision reflects China’s effort to adapt trademark enforcement to online commerce and more complex brand practices. Stricter rules against deceptive trademarks, hoarding and bad-faith registrations could improve consumer trust and give businesses clearer protection in both domestic and cross-border markets. The cyberspace provisions are particularly relevant as trademark misuse increasingly occurs through online platforms, digital marketplaces and information networks.

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US Congress backs CBDC ban through 2030 in housing bill

The US Congress has backed a temporary ban on the Federal Reserve issuing or creating a central bank digital currency as part of the 21st Century ROAD to Housing Act.

The housing package passed the Senate by 85 votes to 5 and was later approved by the House of Representatives by 358 votes to 32. It now awaits President Donald Trump’s signature.

The CBDC provision would amend the Federal Reserve Act to prohibit the Board of Governors of the Federal Reserve System or a Federal Reserve bank from issuing or creating a central bank digital currency, or any substantially similar digital asset, directly or indirectly through a financial institution or other intermediary.

The prohibition would remain in effect until 31 December 2030. The bill defines a CBDC as a digital asset denominated in US dollars, treated as US currency, a direct liability of the Federal Reserve System and widely available to the general public.

The measure includes an exception for dollar-denominated currency that is open, permissionless and private, and that preserves the privacy protections of US coins and physical currency.

Republican supporters have long argued that a US CBDC could create financial surveillance risks, while digital asset industry groups have favoured private-sector payment innovation, including stablecoins, over a government-issued digital currency.

The measure follows a January 2025 executive order by President Trump opposing the development of a US CBDC. If enacted, the new provision would place a statutory limit on Federal Reserve CBDC activity through the end of 2030.

Why does it matter?

The provision would mark a significant US legislative move against a retail Federal Reserve digital dollar, even though no active US CBDC launch is underway. It also reinforces a broader policy direction in Washington: private digital assets, including stablecoins and open blockchain-based instruments, are being favoured over a central bank-issued digital currency. The debate matters for digital payments, financial privacy and the future role of central banks in monetary infrastructure.

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