Dutch indirect crypto investments surge despite limited market share

Indirect crypto securities holdings across Dutch households, institutions, and companies have expanded sharply over the past five years, according to central bank data. The increase reflects wider use of exchange-traded products linked to digital assets, while overall exposure remains limited.

Total indirect investments climbed from around €81 million at the end of 2020 to €1.2 billion by October 2025. Even with that increase, crypto-linked securities remain marginal, accounting for just 0.03% of overall securities holdings in the Netherlands.

Value growth has largely reflected rising prices of underlying crypto-assets rather than widespread new investment. Bitcoin, for example, recorded substantial gains before experiencing a sharp decline in late 2025, which influenced the valuation of related products.

Households hold the largest share of crypto ETFs and ETNs, while pension funds dominate crypto treasury shares. Holdings are highly concentrated, with seven foreign-issued securities accounting for roughly 70% of total Dutch indirect crypto exposure.

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AI traffic filtering raises risks for foreign crypto platforms in Russia

Russia’s telecom watchdog is preparing to expand its use of AI to monitor and restrict access to prohibited online content, a move expected to affect parts of the cryptocurrency ecosystem.

Roskomnadzor plans to invest more than 2 billion rubles in machine-learning tools designed to analyse internet traffic and improve enforcement against banned websites and VPN services. Blocking activity has already accelerated, with hundreds of VPNs and more than a million websites restricted during 2025.

Industry observers warn that stronger filtering could disrupt access to foreign-based crypto exchanges, mining pools, and information services. Major platforms are not currently blocked, but wider AI use is expected to accelerate detection of mirror sites and circumvention tools.

Regulatory changes under discussion could further reshape market access. Proposals would allow licensed domestic institutions to handle crypto transactions while imposing separate rules on specialised exchanges, potentially limiting the operations of foreign providers.

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South Korea establishes legal framework for tokenised securities

South Korea has approved legislation establishing a legal framework for issuing and trading tokenised securities. Amendments recognise blockchain-based securities as legitimate, with rules taking effect in January 2027.

Eligible issuers can create tokenised debt and equity products using blockchain infrastructure, while brokerages and licensed intermediaries will facilitate trading.

Regulators aim to combine the efficiency of distributed ledgers with investor protections and expand the use of smart contracts, enabling previously restricted investments in real estate, art, or agriculture to reach a broader audience.

Implementation will be led by the Financial Services Commission, in collaboration with the Financial Supervisory Service, the Korea Securities Depository, and industry participants.

Consultation bodies will develop infrastructure such as ledger-based account management systems, while local firms, including Mirae Asset Securities and Hana Financial Group, are preparing platforms for the new rules.

Analysts project tokenised assets could reach $2 trillion globally by 2028, with South Korea’s market at $249 billion.

The legislation also complements South Korea’s efforts to regulate blockchain and curb cryptocurrency-related financial crime.

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MetaMask adds native Tron support across all platforms

MetaMask has launched native Tron support on mobile and in the browser, completing its integration with the Tron DAO, announced last August. The move strengthens MetaMask’s shift towards a fully multichain strategy beyond its Ethereum roots.

Tron-based assets, decentralised applications, staking, and USDT transfers can now be managed directly within MetaMask’s self-custody wallet. Users can swap assets across Tron, EVM chains, Solana, and Bitcoin without extra wallet software.

The integration connects MetaMask to Tron, one of the busiest stablecoin networks, with $21 billion in daily transfers and millions of active wallets. Tron’s strong presence in payments and decentralised finance adds further scale to MetaMask’s growing multichain offering.

Consensys, the developer behind MetaMask, has accelerated expansion beyond Ethereum as user activity increasingly spans multiple blockchain ecosystems. After adding Solana and Bitcoin, the integration with Tron further strengthens MetaMask as a cross-chain platform beyond Ethereum.

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Russia moves to allow retail crypto access

Russia is moving to integrate cryptocurrency into everyday finance as lawmakers prepare a bill to allow retail participation under clear limits. The draft would remove crypto from special regulation, signalling broader adoption for the public.

Under the proposed framework, non-qualified investors would be able to buy crypto up to 300,000 rubles, roughly $3,800. Officials emphasise that these limits aim to prevent excessive speculation while providing controlled exposure to digital assets.

The move marks a significant change after years of tight restrictions and cautious oversight from financial authorities.

The legislation is designed with international use in mind, allowing tokens issued in Russia to participate in foreign markets and supporting cross-border settlements. Policymakers aim to integrate crypto into the economy while protecting retail investors.

Regulators, including the Bank of Russia and the Finance Ministry, continue to stress the importance of risk management. Limits and risk checks will ensure retail crypto use remains secure.

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SEC chair looking ahead to the next phase of crypto regulation

SEC Chair Paul Atkins says US crypto market structure legislation is close to becoming law, with President Donald Trump expected to sign it soon. The move aims to end regulatory uncertainty and provide clear legal foundations for digital asset markets.

Atkins has openly backed Congress in defining the jurisdictional split between the Securities and Exchange Commission and the Commodity Futures Trading Commission, arguing that statutory clarity is essential for protecting investors and supporting institutional growth.

Supporters believe clear rules will replace enforcement-led interpretation and allow the sector to mature within established financial frameworks.

Progress is moving through Congress, with the Senate Banking Committee advancing the CLARITY Act while the Agriculture Committee continues negotiations. Despite disagreements and amendments, bipartisan support suggests the bill could reach the White House by the end of the first quarter.

Looking ahead, Atkins has linked the bill to long-term US competitiveness, stating that clear and principled regulation will encourage innovation and attract capital. Coordination between the SEC, CFTC and the White House is expected to be central to implementation.

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US crypto regulation faces new delays

Efforts to reform US cryptocurrency regulation have hit another delay, as Senate senators pushed back the crucial markup of the CLARITY Act. The vote has been moved to the last week of January to secure bipartisan support.

Disagreements persist over stablecoin rewards, DeFi regulation, and regulatory authority between the SEC and CFTC. Without sufficient support, the bill risks stalling in committee and losing momentum for the year.

The CLARITY Act aims to bring structure to the US digital asset landscape, clarifying which tokens are classed as securities or commodities and expanding the CFTC’s supervisory role. It sets rules for market oversight and asset handling, providing legal clarity beyond the current enforcement-focused system.

The House passed its version in mid-2025, but the Senate has yet to agree on wording acceptable to all stakeholders. Delaying the markup gives Senate leaders time to refine the bill and rebuild support for potential 2026 reform.

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Betterment confirms data breach after social engineering attack

Fintech investment platform Betterment has confirmed a data breach after hackers gained unauthorised access to parts of its internal systems and exposed personal customer information.

The incident occurred on 9 January and involved a social engineering attack connected to third-party platforms used for marketing and operational purposes.

The company said the compromised data included customer names, email and postal addresses, phone numbers and dates of birth.

No passwords or account login credentials were accessed, according to Betterment, which stressed that customer investment accounts were not breached.

Using the limited system access, attackers sent fraudulent notifications to some users promoting a crypto-related scam.

Customers were advised to ignore the messages instead of engaging with the request, while Betterment moved quickly to revoke the unauthorised access and begin a formal investigation with external cybersecurity support.

Betterment has not disclosed how many users were affected and has yet to provide further technical details. Representatives did not respond to requests for comment at the time of publication, while the company said outreach to impacted customers remains ongoing.

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India mandates live identity checks for crypto users

India’s Financial Intelligence Unit has tightened crypto compliance, requiring live identity checks, location verification, and stronger Client Due Diligence. The measures aim to prevent money laundering, terrorist financing, and misuse of digital asset services.

Crypto platforms must now collect multiple identifiers from users, including IP addresses, device IDs, wallet addresses, transaction hashes, and timestamps.

Verification also requires users to provide a Permanent Account Number and a secondary ID, such as a passport, Aadhaar, or voter ID, alongside OTP confirmation for email and phone numbers.

Bank accounts must be validated via a penny-drop mechanism to confirm ownership and operational status.

Enhanced due diligence will apply to high-risk transactions and relationships, particularly those involving users from designated high-risk jurisdictions and tax havens. Platforms must monitor red flags and apply extra scrutiny to comply with the new guidelines.

Industry experts have welcomed the updated rules, describing them as a positive step for India’s crypto ecosystem. The measures are viewed as enhancing transparency, protecting users, and aligning the sector with global anti-money laundering standards.

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Tether and UN join to boost digital security in Africa

Tether has joined the UN Office on Drugs and Crime to enhance cybersecurity and digital asset education across Africa. The collaboration aims to reduce vulnerabilities to cybercrime and safeguard communities against online scams and fraud.

Africa, emerging as the third-fastest-growing crypto region, faces increasing threats from digital asset fraud. A recent Interpol operation uncovered $260 million in illicit crypto and fiat across Africa, highlighting the urgent need for stronger digital security.

The partnership includes several key initiatives. In Senegal, youth will participate in a multi-phase cybersecurity education programme featuring boot camps, mentorship, and micro-grants to support innovative projects.

Civil society organisations across Africa will receive funding to support human trafficking victims in Nigeria, DRC, Malawi, Ethiopia, and Uganda. In Papua New Guinea, universities will host competitions to promote financial inclusion and prevent digital asset fraud using blockchain solutions.

Tether and UNODC aim to create secure digital ecosystems, boost economic opportunities, and equip communities to prevent organised crime. Coordinated action across sectors is considered vital to creating safer and more inclusive environments for vulnerable populations.

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