Emerging markets use cryptocurrency wallets for everyday payments more than developed regions, a recent Bitget Wallet report shows. A survey of 4,599 users shows Southeast Asia, South Asia, and Africa mainly use crypto wallets to send funds.
These regions often face limited access to traditional banking, making crypto a practical alternative.
In contrast, users in Europe mainly use crypto wallets for trading, with over 40% citing this as their primary activity. North America and East Asia showed balanced crypto trading and transfers, with East Asia leading in long-term holdings at 43%.
Bitget’s CEO, Gracy Chen, highlighted the significant shift in user behaviour, noting that wallets are evolving beyond trading tools into integral parts of broader financial ecosystems.
Plans are underway to make wallets more accessible for users who are new to cryptocurrencies and not traditional traders.
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Two wallets tied to the controversial Libra meme coin team have been frozen. Nearly $58 million in USDC stablecoins on the Solana blockchain are now locked.
The freeze on Solscan affects accounts holding $44.59 million and $13.06 million in USDC, a stablecoin issued by Circle. Major stablecoin issuers like Circle have the authority to blacklist addresses in cases of fraud or legal disputes.
The freeze follows a temporary restraining order from a US federal court, requested by Burwick Law amid ongoing litigation. Argentina’s justice department has also been linked to the legal action, connected to the Libra token promoted by Argentine President Javier Milei.
The token’s rapid rise and fall earlier this year sparked accusations of a pump-and-dump scheme.
Despite the legal troubles, Circle has recently filed for an initial public offering on the New York Stock Exchange, aiming for a $6.7 billion valuation. Meanwhile, Argentina’s task force investigating the scandal was disbanded last week.
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Pakistan is moving ahead with plans to establish a national Bitcoin reserve as part of a broader digital asset strategy. Bilal Bin Saqib, head of the Pakistan Crypto Council, announced the move at the Bitcoin 2025 conference in Las Vegas.
He emphasised that the government’s intention is long term and not driven by market speculation. He stated that once acquired, the Bitcoin would never be sold.
The government plans to launch a national Bitcoin wallet and adopt blockchain technologies. The reserve’s size is unclear, but the move follows the US example and shows Pakistan’s growing trust in blockchain.
Officials are also preparing to allocate 2,000 megawatts of surplus electricity for Bitcoin mining and AI data centres. The aim is to boost jobs, modernise the power sector, and attract investment.
In parallel, the country is creating the Pakistan Digital Assets Authority (PDAA) to regulate the crypto sector. The agency will regulate exchanges and token platforms and develop frameworks for DeFi and blockchain-based public finance.
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US Vice President J.D. Vance stressed the importance of political involvement for the crypto community during his speech at the Bitcoin 2025 conference in Las Vegas.
He warned policymakers may ignore Bitcoin without ongoing activism despite its growing importance.
Vance praised the crypto community’s impact and urged continued momentum after the 2024 elections. He stressed that political decisions will shape Bitcoin’s future, so the industry must stay engaged with policymakers.
Highlighting Bitcoin’s potential strategic value, Vance referenced the government-backed Bitcoin Reserve launched under former President Donald Trump.
The US stance contrasts with China’s rejection of Bitcoin. J.D. Vance said that America should deepen its commitment to the cryptocurrency to secure a competitive edge globally.
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Ripple has urged US regulators to define when a digital asset should no longer be considered a security. In a new letter to the SEC’s Crypto Task Force, the firm responded to questions raised by Commissioner Hester Peirce on asset classification.
The move seeks greater clarity for market participants amid increasing regulatory scrutiny.
The company referenced its 2023 legal victory, where a court ruled XRP was not inherently a security. Ripple also cited a 2022 legal paper. The paper claims most fungible tokens on secondary markets lack ongoing obligations between buyers and issuers.
It proposed a two-part test to determine when a token becomes independent from its original investment contract.
Ripple says a crypto asset stays a security only if promises remain and holders have enforceable rights. It warned against vague standards like ‘sufficient decentralisation,’ backing clearer criteria such as trading history and absence of centralised control.
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Luxembourg has classified virtual asset service providers (VASPs) as high-risk for money laundering in its 2025 National Risk Assessment.
The report highlights concerns about the crypto industry’s exposure to financial crime, citing factors such as transaction volumes, client reach, and international operations.
The assessment builds on 2020 and 2022 reports that flagged crypto risks linked to their internet-based and cross-border nature. Meanwhile, the European Union is advancing regulation with the MiCA framework to harmonise rules across member states.
Several crypto firms have recently secured licenses to operate within the EU. However, some, like Tether, resist new stablecoin regulations and were delisted on major platforms.
Money laundering using cryptocurrencies remains a challenge worldwide. The incidents highlight ongoing concerns about illicit activity in the growing crypto market.
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Trump Media & Technology Group has announced plans to raise approximately $2.5 billion through a private placement. The aim is to create one of the largest corporate Bitcoin treasuries.
The company operates Truth Social and Truth+. It intends to acquire significant Bitcoin holdings alongside its reported $759 million in cash and equivalents as of the first quarter of 2025.
Capital raising round comprises $1.5 billion in common stock and $1 billion in convertible notes, priced at a 35% premium. Transaction should conclude by 29 May, with funds used to buy Bitcoin and grow company’s crypto holdings.
Trump Media’s CEO, Devin Nunes, described Bitcoin as a ‘financial freedom’ asset and a strategic hedge against what he referred to as ‘harassment and discrimination’ by traditional financial institutions.
The company plans to integrate its Bitcoin strategy across its platforms, including subscription fees and a potential utility token.
The development places Trump Media among few public companies investing heavily in Bitcoin, reflecting a rising trend of corporates adopting crypto in their treasury.
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El Salvador has officially amended its Bitcoin law, making acceptance of the cryptocurrency voluntary rather than mandatory.
The move reverses a key element of the 2021 law that made Bitcoin legal tender alongside the US dollar.
The reform was approved by Congress on 29 January, with 55 votes in favour and just two against. The chamber is currently dominated by President Nayib Bukele’s New Ideas Party.
According to officials, the amendment responds to requirements set by the International Monetary Fund as part of a US$1.4 billion loan agreement reached in December 2024.
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Circle Internet Group is developing a new global payment network. The company, known for issuing the second-largest stablecoin, aims to facilitate seamless cross-border transfers. However, the project will rely on stablecoins to enable real-time international settlement.
The planned network will connect banks, digital wallet providers, and financial technology firms, allowing instant movement of funds across borders.
Circle aims to improve the efficiency of international payments while reducing associated costs.
There is growing interest in stablecoin infrastructure from both cryptocurrency-focused and traditional financial institutions. Circle’s initiative signals the expanding role of digital assets in modernising global finance.
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The United Kingdom has recorded the fastest growth in cryptocurrency adoption globally in 2025. The finding comes from a new report by Gemini, the crypto exchange based in the United States.
The proportion of UK adults holding cryptocurrencies rose to 24% in April, up from 18% a year earlier, marking the sharpest year-on-year increase among the countries surveyed.
The report, based on a survey of more than 7,000 people across Europe, the United States, Singapore, and Australia, shows that Europe is leading the rise in cryptocurrency ownership.
Singapore continues to hold the highest individual rate, with 28% of respondents reporting ownership of cryptocurrencies.
Despite not yet having a national regulatory framework in place, the UK remains attractive to investors. In April, the government published a draft statutory instrument aimed at regulating crypto exchanges and related services.
The Treasury is expected to finalise the near-final version later in 2025 following public consultation.
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