The Bank of Korea is forming a virtual asset committee to monitor the country’s growing crypto market and support legislative developments around stablecoins. The new Virtual Asset Team will assist regulators and handle policy matters on digital assets and stablecoins.
As part of this shift, the central bank has renamed its CBDC-related units to reflect a more business-driven approach. The newly titled Digital Currency Team replaces the former Digital Currency Research Team.
Two additional teams, Digital Currency Technology and Digital Currency Infrastructure, will focus on testing platforms and voucher systems using deposit tokens.
Although South Korea’s central bank postponed its CBDC trial in late June due to regulatory uncertainty and concerns from local banks, discussions are expected to resume once legal issues are addressed.
At the same time, the country’s major banks are preparing to issue stablecoins pegged to the Korean won by 2025 or 2026, with support from the Bank of Korea for a bank-led rollout.
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Thailand has launched a digital asset sandbox to attract high-spending, tech-savvy tourists by enabling seamless cryptocurrency payments. The initiative lets foreign visitors convert digital assets to Thai baht and spend them using local e-money platforms.
The Securities and Exchange Commission, the Bank of Thailand, and other agencies oversee the regulatory sandbox. It aims to simplify payments from street vendors to luxury retailers, eliminating currency conversion friction and card fees.
Authorities plan to focus on merchant education, compliance, and cybersecurity to support the programme’s success.
The move aligns with Thailand’s broader strategy to become a regional digital finance and blockchain innovation hub. Recent policies include a five-year capital gains tax exemption on crypto sales through local exchanges.
The sandbox could attract fintech firms and blockchain events, signalling Thailand’s ambition to lead in digital asset adoption while maintaining regulatory safeguards.
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Indonesia plans to implement fresh tax regulations on cryptocurrency starting August 2025, reclassifying digital assets as financial instruments. The regulatory authority is shifting from Bappebti to the Financial Services Authority, marking a significant overhaul in oversight and licensing.
The upcoming tax increase on crypto transactions aims to boost government revenue, but risks discouraging retail investors due to higher costs. OJK Chair Mahendra Siregar emphasises that the new framework aligns cryptocurrencies with broader financial regulations.
The allowlist of tradable digital assets will nearly double, expanding market opportunities amid the changing landscape.
Fintech startups face challenges adapting to stricter rules and rising operational expenses, potentially disadvantaging them compared to regional competitors like Singapore and Hong Kong.
While retail investors may find initial barriers, more straightforward rules and regulatory sandboxes could foster long-term stability and innovation. Indonesia’s approach will require a careful balance between encouraging growth and ensuring oversight.
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The US Department of Justice has moved to seize over $2.3 million in Bitcoin tied to a member of the Chaos ransomware group. The funds, taken from a wallet linked to the individual known as ‘Hors’, are alleged to be proceeds of extortion and money laundering.
Chaos operates as a ransomware-as-a-service group, renting its malware to affiliates targeting Windows, Linux, and NAS systems. The group has been active since early 2025 and is known for encrypting victims’ data while demanding crypto payments under threat of public leaks.
US Federal agents accessed the wallet in April using a recovery seed phrase from an older Electrum platform and transferred the assets to a government-controlled address. The DOJ said the operation demonstrates growing success in disrupting ransomware-related crypto flows.
Despite the seizure, challenges remain as such groups evolve their tactics and benefit from the relative anonymity of decentralised platforms. Authorities stress that continued cross-agency cooperation and advances in blockchain forensics are essential in combating future threats.
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Originally due by 4 August, the review period has been extended to 18 September. The proposed fund aims to list on NYSE Arca under the SEC’s commodity-based trust framework.
The regulator also delayed rulings on Grayscale’s Solana Trust, now pushed to 10 October, and Canary Capital’s Litecoin ETF. According to the SEC, more time is needed to assess the applications and address regulatory concerns.
Commissioner Hester Peirce recently warned stakeholders to expect a slow pace in crypto ETF approvals due to ongoing legal and regulatory challenges.
Despite the delays, the SEC has moved faster than in previous cycles. The first spot Bitcoin ETF took over a decade to receive approval, finally gaining the green light in January 2024.
While the Truth Social fund has not drawn formal objections, its ties to Donald Trump have raised concerns among lawmakers over potential conflicts of interest.
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Stablecoins are becoming central to a new financial system, says Coinbase. The crypto exchange believes it will soon replace traditional payment networks and power transactions by people and AI agents.
Coinbase vice president Shan Aggarwal described stablecoins as the ‘future of global payments,’ especially when combined with self-custodial wallets. These internet-native bank accounts could expand digital commerce to billions, including those without access to traditional banking.
The firm is building tools like x402 and AgentKit to support AI agents that can autonomously send, receive, and manage stablecoins. Such systems are designed to work around the clock, without the limits of legacy infrastructure.
Beyond the crypto sector, Coinbase sees stablecoins transforming payments for small businesses and underserved regions. By 2030, the company expects nearly everyone online to interact with them, whether knowingly or not.
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Tokenisation can remove barriers to green energy investment, allowing more involvement beyond institutional players, says Mete Al, Co-founder of ICB Labs.
Individuals could invest smaller sums and earn passive income by turning assets like solar farms into fractional digital tokens. It allows them to support renewable energy without owning physical infrastructure.
High costs and trust issues limit access to sustainable projects, but blockchain tools can boost confidence and ensure fair rewards.
ICB Labs is already working on a tokenised solar project for 2026. Al emphasises that strong governance and flexible regulation, including regulatory sandboxes, are essential to support innovation in decentralised climate finance.
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Cyberattacks and scams have already cost the crypto sector more than $3.1 billion in 2025, marking one of the most damaging years. Hacken’s mid-year report reveals that access control failures and social engineering tactics remain the primary culprits.
The most significant single incident occurred in Q1, when Bybit suffered a $1.5 billion breach, accounting for 83% of all Q1 losses. Access control weaknesses were responsible for around $1.83 billion, or 59% of funds lost across both DeFi and CeFi platforms.
Decentralised finance projects were hit particularly hard, with $300 million drained in Q2 alone. Smart contract vulnerabilities contributed to $263 million in losses, including a $223 million hit in the Cetus exploit.
Meanwhile, phishing scams reached new heights, with one incident in April involving a $330 million Bitcoin theft.
Q2 had fewer access breaches than Q1, but single leaks caused rapid, large-scale losses. Hacken’s report concludes that improved cybersecurity is essential for building trust and protecting innovation in the growing blockchain space.
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Despite growing visibility and political support, cryptocurrencies remain on the fringes for most Americans. A new Gallup poll shows that only 14% of US adults currently own digital assets—an increase since 2018, yet still a small minority.
Sixty percent say they have no interest in ever purchasing cryptocurrencies, and only 4% plan to buy shortly.
Ownership is notably higher among men aged 18–49, especially those with higher incomes and university degrees. In contrast, women, older adults, and low-income groups show limited participation.
Even among investors with over $10,000 in traditional assets, only 17% hold crypto, though this is a notable jump from 2% in 2018.
Public understanding of cryptocurrencies remains limited. While most respondents have heard of them, only 35% say they understand how they work.
Even among those with some knowledge, 64% label crypto as ‘very risky’—a figure that has increased since 2021.
The crypto sector’s volatility, scandals like FTX, and lingering security concerns continue to shape sentiment. Although regulation has improved and political attitudes have shifted, trust remains low. Only 4% of Americans consider crypto the best option for long-term investment.
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Bank of England Governor Andrew Bailey has called for urgent digital upgrades to the UK’s retail payments system to support future growth.
At the Mansion House dinner, he said upgrading infrastructure is vital to support the economy and stay globally competitive.
Bailey remains sceptical about launching a digital pound. While he acknowledged that stablecoins may have a future role, he stressed they must not replace commercial bank money and must be appropriately regulated.
He also warned against global banks issuing their stablecoins, which could reduce lending capacity.
He went on to express concern over rising global trade tensions, calling the shift in policy ‘the most sudden and fundamental’ in decades.
Bailey urged the IMF and WTO to step in and help restore cooperation in the international trading system.
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