South Korean crypto industry leaders are raising concerns over the Basic Digital Asset Act, a draft bill aiming to regulate the stablecoin sector. Lawmaker Min Byung-deok’s proposed legislation would require domestic stablecoin issuers to obtain approval from the Financial Services Commission before issuance.
Industry experts argue that the bill’s provisions are unfair and ineffective. They argue the regulations would create an uneven playing field, exempting foreign stablecoins like Tether (USDT) from scrutiny while South Korean firms face stricter rules.
According to one anonymous source, ‘It is unfair that foreign companies can operate unhindered while local businesses face these regulations.’ The bill also proposes the creation of a self-regulatory body to oversee stablecoins and cryptoassets in South Korea.
Critics argue the approach ignores South Korea’s unique market, with one insider noting it is ‘effectively limited to the USDT market.’ They believe a tailored, gradual regulatory system would be more appropriate for the domestic market.
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A new study highlights the significant environmental and health risks posed by Bitcoin mining in the US. Led by Dr. Francesca Dominici of Harvard’s T.H. Chan School of Public Health, the study finds that emissions from mining facilities expose millions to dangerous PM2.5 pollution.
The research analysed 34 Bitcoin mining sites between August 2022 and July 2023. It showed that these sites consumed 32.3 terawatt-hours of electricity, with most of it coming from fossil fuels.
The mining activity exposed 1.9 million Americans to harmful PM2.5 levels, linked to increased health risks.
The study highlights cross-border pollution and suggests the EPA enforce a ‘Good Neighbor’ rule for out-of-state emissions.
Some in the industry downplay environmental concerns, while sustainable practices, like heat repurposing in Finland, emerge.
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Google will begin enforcing a new crypto advertising policy in Europe on 23 April. Exchanges and wallet providers will be required to be licensed under the Markets in Crypto-Assets (MiCA) or Crypto Asset Service Provider (CASP) frameworks.
Advertisers must also meet local legal requirements and be certified by Google to promote crypto-related services in the region.
The change follows the implementation of MiCA in December 2024, the EU’s first comprehensive regulatory framework for digital assets. Some see Google’s move as beneficial for investor protection, while others warn it may create compliance gaps and higher barriers for smaller firms.
Bitget’s Hon Ng said the rules could reduce scams but warned smaller firms may struggle with MiCA’s requirements. National licensing timelines may also differ, risking inconsistent enforcement.
Others, like Mattan Erder from Orbs, argue the policy is more about shielding Google from legal risk than protecting investors. He noted that if registration becomes too costly or complex, it may push smaller crypto firms out of the market altogether.
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The Trump administration actively evaluates ways to acquire Bitcoin without increasing the national budget.
According to Bo Hines, Trump’s leading crypto adviser, options such as tariffs and inter-agency financial strategies are being considered. The aim is to build a significant reserve without burdening taxpayers.
Hines confirmed that the administration wants to accumulate as much Bitcoin as possible, comparing it to gold in terms of strategic value. He emphasised that any holdings would be kept long-term.
Much of the administration’s vision aligns with Senator Cynthia Lummis’ proposed BITCOIN Act of 2025. The Act advocates using revalued gold certificate profits to purchase up to 1 million Bitcoin over five years.
Hines also stated that even swapping gold for Bitcoin is being reviewed, provided it does not affect the federal budget.
On a broader scale, Hines sees digital assets as the foundation for overhauling America’s ageing financial system. He criticised today’s banking inefficiencies and said blockchain offers a faster, more transparent, and practical alternative for daily payments.
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US Bitcoin miners are facing increased costs due to new tariffs on Chinese-made mining equipment. The White House announced a 125% import tax on Chinese goods, adding to previous tariffs. It has led to a 145% increase in tariffs on Chinese imports since President Trump took office.
Bitcoin mining hardware manufacturers in Southeast Asia, including Bitmain and MicroBT, are being hit hardest by the tariffs.
US-based miners who rely on this equipment are facing higher buildout costs. Some are considering shifting operations abroad to remain competitive.
Despite the challenges, some believe these disruptions are temporary. US firms are onshoring production, while miners are urged to diversify supply chains and turn to domestic manufacturers.
However, the tariffs could slow US mining growth and shift activity to more cost-effective regions.
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Axie Infinity’s Jeff Zirlin views the high costs as an opportunity for strategic growth, urging Web3 teams to prepare for future expansion. Meanwhile, regional differences show that CPWs in the US and Western Europe surged in 2024.
In contrast, emerging markets like Latin America and Eastern Europe remain more affordable but volatile.
The Web3 gaming sector is also struggling, with a significant drop in funding. Blockchain gaming saw a 71% decrease in investment in Q1 2025, highlighting ongoing challenges for the industry.
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Lomond School in Scotland will become the first UK educational institution to accept Bitcoin for tuition, beginning in the autumn term of 2025. The school aims to prepare students for a changing financial world by integrating Bitcoin into operations and education.
The initiative is part of a broader push to teach ‘sound money principles’ based on the Austrian School of Economics. Bitcoin payments will be converted to fiat for now, though Lomond may hold BTC reserves in the future. Other cryptocurrencies will not be accepted at this time.
Globally, educational institutions are increasingly adopting Bitcoin. The University of Wyoming recently launched a Bitcoin Research Institute, and the University of Austin has allocated a portion of its endowment to BTC.
In the US, 41 Bitcoin reserve bills are active across 26 states, with Kentucky, Oklahoma, and Missouri leading efforts to establish state-level Bitcoin reserves.
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In a move to ease tensions in the tech industry, the US government has announced updates to its tariff guidelines. The updates offer exemptions for certain products, such as laptops, smartphones, and semiconductor machines.
These exclusions provide temporary relief to tech giants like Apple, which faced substantial challenges due to the threat of steep tariffs on their products. Apple, which manufactures the majority of its products in China, particularly iPhones, could have seen prices rise by up to 85% if tariffs were enforced.
China’s Ministry of Commerce acknowledged the exemptions as a small step but reiterated criticism of US tariffs, claiming they disrupt the global economy. The US has shown no intention of backing down, leaving future moves uncertain.
The latest tariff exemptions boosted cryptocurrency markets, with Bitcoin hitting $86,000. While offering short-term relief, long-term impacts on trade and tech remain unclear.
Companies like Apple still rely on China, while critics highlight Trump’s shift from ‘no exemptions’ to multiple exceptions.
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The Swiss franc and gold are currently leading the pack as safe-haven assets amid ongoing stock and bond market turmoil.
The Swiss franc has soared, outperforming many currencies, including the US dollar, which has dropped to 2018 lows.
The surge is mainly attributed to Switzerland’s long-standing neutrality and banking secrecy laws. These factors have made the country a financial safe haven for many years.
Gold has also seen impressive gains, reaching a record high of $3,240. The precious metal has risen by 125% since the pandemic lows and by 24% this year alone. In comparison, Bitcoin has failed to keep pace. Its price dropped from an ATH of $109,300 to $83,000, reflecting broader market concerns.
The Swiss National Bank (SNB) has also benefited from its substantial investments in top American companies and US Treasury bonds.
Despite rising recession fears and US-China trade tensions, gold and the Swiss franc are outperforming Bitcoin, US bonds, and stocks.
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Sweden may soon follow the lead of other nations by considering Bitcoin for its national reserves.
In a formal letter, Member of Parliament Rickard Nordin urged the Finance Minister to diversify Sweden’s foreign exchange reserves with Bitcoin.
He cited Bitcoin’s growing role as a hedge against inflation and highlighted its political significance in supporting freedom under authoritarian regimes.
Nordin’s call aligns with a broader international debate. Countries like El Salvador and Bhutan already hold Bitcoin in their treasuries. Some, like the US, plan to build reserves using Bitcoin confiscated in criminal cases, rather than purchasing it directly.
Despite growing political interest, Sweden’s regulatory stance remains cautious. Authorities have cracked down on crypto tax evasion, with 18 of 21 Bitcoin miners found to have submitted false tax returns. These false submissions resulted in nearly $90 million in taxes being evaded.
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