Paul Atkins has officially been sworn in as the 34th Chair of the US Securities and Exchange Commission (SEC). Known for his pro-crypto stance, Atkins is expected to bring much-needed clarity to digital asset regulations.
He was nominated by President Trump and confirmed by the Senate after a brief delay, officially taking office in April.
Atkins, who previously served as an SEC Commissioner from 2002 to 2008, brings over 20 years of experience in capital markets. His appointment is timely, as the SEC’s case against Ripple nears its end, with XRP supporters urging swift action.
Additionally, more than 17 applications for XRP spot ETFs are now awaiting review under Atkins’ leadership.
Crypto advocates are hopeful that Atkins will use his position to drive forward long-awaited regulatory reforms for the industry. His personal involvement with digital assets—holding nearly $6 million in them—demonstrates his commitment to the space.
As the SEC moves forward under his leadership, clearer rules for crypto markets are expected to emerge.
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Deutsche Bank and Standard Chartered are ramping up their crypto operations in the US. They’re seizing the opportunity created by a shift in regulatory policy under Donald Trump. A digital asset reserve is now in place, creating new prospects for the banks.
Deutsche Bank has partnered with Bison to safeguard euro balances. It is also expanding its crypto services globally, including a strategic alliance with Crypto.com in Asia. The bank also plans to extend its operations in the UK and Europe.
Standard Chartered is focusing on infrastructure. It is launching a digital collateral programme with OKX and Franklin Templeton. The bank is also entering the stablecoin market with a Hong Kong dollar-backed project.
Both banks aim to secure a leading position in the growing crypto sector.
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Shoppers at a Spar supermarket in Zug, Switzerland, can now pay for groceries using Bitcoin, thanks to a new Lightning Network integration. The feature was introduced via BTC Map. It was supported by DFX Swiss and highlights the growing use of crypto in everyday transactions.
Customers can complete their purchases simply by scanning a static QR code at checkout, making Bitcoin payments seamless and accessible. Rahim Taghizadegan, a Swiss lecturer and crypto expert, praised the system’s ease of use and its potential for wider adoption.
With over 1,000 Swiss businesses already accepting Bitcoin, the country remains one of Europe’s strongest cryptocurrency supporters. As a global chain with nearly 14,000 stores worldwide, Spar’s participation signals greater trust in digital payments.
Meanwhile, Switzerland’s Crypto Valley continues to thrive, reaching a $593 billion valuation in 2024.
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South Korea’s presidential candidate Hong Joon-pyo has vowed to deregulate the country’s cryptocurrency industry. Hong declared his intent to foster blockchain and virtual assets as a fully recognised industry, introducing the technology into public services.
His statement follows recent US moves to ease crypto regulations, including Trump’s resolution removing IRS reporting requirements for DeFi platforms.
Hong aims to align South Korea’s digital asset policies with the US’s lenient stance, bolstered by initiatives like the Strategic Bitcoin Reserve.
The push to embrace cryptocurrencies comes amid growing calls from South Korean lawmakers to integrate digital assets into the country’s financial system.
However, opposition remains, with the Bank of Korea recently rejecting the idea of holding Bitcoin in reserves due to its price volatility.
With the US leading on crypto initiatives, South Korea’s presidential race could soon determine whether Hong’s plans will shape the nation’s future approach to blockchain.
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Dubai-based DWF Labs has invested $25 million in World Liberty Financial (WLFI), a decentralised finance project supported by Donald Trump and his sons. As part of the deal, DWF Labs acquired WLFI tokens via a private transaction, giving the firm governance rights in the protocol.
The company said the investment aligns with its strategy to support USD-pegged stablecoins and DeFi adoption.
The collaboration includes providing liquidity for WLFI’s stablecoin, USD1, which launched in March on both Ethereum and BNB Chain.
While the stablecoin is not yet tradable, DWF Labs aims to boost its development. The market maker provides liquidity to over 60 exchanges, enabling smoother trade execution.
DWF Labs is also expanding into the United States and has opened a New York office. The move is expected to bolster the company’s partnerships with banks, asset managers, and fintech firms.
WLFI has raised over $600 million since launching in September 2024. Initial token sales brought in $550 million, with an additional $30 million investment from Tron founder Justin Sun.
Web3Port and Oddiyana Ventures have also contributed to the funding, further signalling strong interest in the Trump-backed DeFi platform.
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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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