Russia is preparing to amend its criminal code to include cryptocurrency-related terms. The change would assist law enforcement in confiscating coins during investigations.
The bill, drafted by the Ministry of Justice, is set to be presented to the State Duma shortly. At present, cryptocurrency lacks legal status in general criminal cases, causing complications for police and prosecutors.
The absence of legal definitions for crypto-related terms has made investigations and confiscations challenging, especially for assets held in online wallets. Experts note that the bill will clarify crypto handling procedures but may raise questions about previous court seizures.
Some legal professionals have welcomed the move, but concerns have been raised about protecting the rights of law-abiding citizens. Others stress the need for law enforcement to be properly equipped and trained before implementing such changes.
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The US Secret Service, in collaboration with Canadian officials, launched ‘Operation Avalanche‘ to target compromised wallets on the Ethereum blockchain.
The operation focused on disrupting an ongoing approval phishing scam, which had already cost victims $4.3 million.
Approval phishing occurs when scammers trick victims into signing illicit blockchain transactions, allowing fraudsters to drain funds from their wallets.
The US Secret Service assisted Canadian officials, helping to disrupt the scam and prevent further losses.
Both US and Canadian authorities have committed to continuing their efforts to identify stolen assets and return them to the victims. The operation highlights the importance of global law enforcement collaboration in combating crypto-related crimes.
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A senior Russian finance official has called for domestic stablecoins after EU sanctions led to the freeze of over 2.5 billion roubles held by Garantex. It raised concerns about reliance on foreign-issued assets.
Osman Kabaloev suggested Russia explore creating its stablecoins, possibly pegged to local currencies, as an alternative to USDT. Stablecoins are widely used in the cryptocurrency space for their stability, particularly in regions facing financial sanctions or restrictions.
In Russia, USDT has been used by businesses for international transactions. The trend has grown as access to global payment systems has become more restricted due to Western sanctions.
While Russia has allowed limited experimental use of cryptocurrency for cross-border payments, domestic use of crypto remains restricted. The call for a homegrown stablecoin reflects Russia’s growing concerns over digital asset security and sovereignty.
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Panama City has announced that it will accept Bitcoin, Ethereum, and stablecoins like USDC and Tether as payment for public services. The decision marks a significant step forward in the country’s growing acceptance of cryptocurrencies. Locals will be able to use these digital assets to pay for taxes, permits, fees, and tickets.
The city’s council approved the proposal this week, and Mayor Mayer Mizrachi confirmed the move on social media. Panama City will partner with banks to facilitate the conversion of cryptocurrencies into fiat currency. It will make payments easier and more accessible for residents.
While Panama City’s stance on crypto has evolved, lawmakers have not always been in favour of digital assets. In 2022, President Laurentino Cortizo vetoed a bill to regulate Bitcoin and decentralised organisations, citing the need for better alignment with Panama’s financial system.
However, Panama’s move mirrors the increasing global adoption of cryptocurrencies. Other nations like El Salvador and the Central African Republic have already recognised Bitcoin as legal tender. Some Swiss regions have also started accepting digital currencies for public services.
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Ethena Labs has shut down its German subsidiary, Ethena GmbH, following regulatory issues with BaFin. The German regulator had ordered the company to stop public sales of USDe due to MiCAR noncompliance.
Minting and redemption of USDe are now handled through Ethena Limited in the British Virgin Islands.
BaFin flagged flaws in Ethena GmbH’s approval process and raised concerns over unregistered sUSDe token sales. The regulator froze reserves, shut down the website, and banned new sign-ups. Secondary market listings of USDe remain unaffected.
Ethena expressed disappointment over the MiCAR denial but stated it is exploring alternative regulatory options.
The company’s exit from the German market underscores the increasing regulatory pressure on crypto issuers in Europe, especially in the lead-up to MiCAR’s full implementation.
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Moscow is set to host the Global Blockchain Forum 2025 from 23-24 April, attracting over 15,000 crypto enthusiasts worldwide.
The event will feature prominent figures from the crypto industry, including Justin Sun, founder of Tron, and Ivan Chebeskov, Russia’s deputy finance minister.
The forum’s primary aim is to strengthen ties between Russia and the global crypto community. The vision is to make Russia a leading hub for blockchain and cryptocurrency innovation.
The forum will cover critical topics, including global crypto adoption. Bitcoin’s future in 2025 will also be discussed, along with Russia’s stance on cryptocurrencies amid ongoing geopolitical tensions. Over 100 experts from more than 100 countries will contribute to the discussions.
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A report from El Salvador’s central bank shows that only 11% of registered Bitcoin service providers are currently operational.
Out of 181 companies listed, just 20 meet the country’s legal standards set under its Bitcoin Law, according to local outlet El Mundo.
The law, which made Bitcoin legal tender, requires firms to implement anti-money laundering measures and record assets and liabilities accurately. It also mandates that companies establish cybersecurity programmes tailored to the nature of their services.
However, 89% of providers have failed to comply with these rules and remain non-operational. Some companies, including the government-backed Chivo Wallet, Crypto Trading & Investment, and Fintech Américas, have managed to meet the legal criteria.
President Nayib Bukele has insisted the government will continue buying Bitcoin despite the IMF’s request to halt public sector purchases.
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The exchange’s APAC Managing Director, John O’Loghlen, described the current policy environment as vague and unfit to support long-term growth in the sector.
The company outlined five urgent priorities for the next government. These include forming a crypto taskforce within 100 days and addressing the country’s worsening debanking problem. It also called for enabling stablecoin use and providing clearer tax rules for Web3 projects.
Despite high adoption rates, the blog post stressed that unclear regulation is pushing talent and investment overseas.
Coinbase noted that wealthy Australians still hold limited crypto, suggesting caution. Despite recent proposals, it says stronger legislation is needed to keep Australia competitive.
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Russian officials have proposed new measures to curb illegal online gambling. The plan involves targeting cryptocurrency payments and restricting access to unlicensed casino platforms.
Yevgeny Masharov, a senior policymaker, outlined plans to block crypto transactions. He also proposed restricting access to websites and apps linked to illicit gambling activities.
Masharov stressed that underage users are particularly vulnerable, noting that crypto-based casinos often skip identity checks and age verification. Parents are concerned that gamified gambling apps target children. Masharov warns that legal operators are losing out to more convenient illegal platforms.
Doubts remain over how effective such measures could be. Russians have previously bypassed state bans using VPNs, most notably during the failed Telegram block in 2018. Despite efforts to outlaw VPNs, many continue to use them freely.
Russia’s evolving stance on cryptocurrency includes its use in international trade and Bitcoin mining. These developments could complicate efforts to restrict crypto use in domestic online gambling.
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World Liberty Financial (WLFI), a cryptocurrency project backed by the Trump family, has added 4.89 million SEI tokens to its portfolio. The purchase, valued at approximately $775,000, was made by using USDC transferred from the project’s main wallet.
The move increases WLFI’s growing collection of altcoins, which includes Bitcoin (BTC), Ether (ETH), and Tron (TRX). WLFI’s total portfolio now includes 11 different tokens, amounting to over $346 million in investments.
Despite this large accumulation, the project has yet to realise any profits, with its portfolio currently down by $145.8 million. Its Ethereum holdings have suffered a particular blow, with losses exceeding $114 million.
The SEI acquisition comes amid growing speculation surrounding the Trump family’s involvement in the crypto market. WLFI’s proposal for a USD1 stablecoin has raised concerns among lawmakers about its potential to replace the US dollar in federal transactions.
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