South Korea has confirmed that Bitcoin will not be included in its foreign exchange reserves, citing concerns over volatility and regulatory standards. The Bank of Korea responded to a parliamentary inquiry by stating that Bitcoin does not meet the International Monetary Fund’s criteria for reserve assets, which require liquidity, stability, and an investment-grade credit rating.
Despite global discussions on national Bitcoin reserves, the central bank emphasised a cautious approach. It highlighted that major institutions, including the European Central Bank and the Swiss National Bank, share similar reservations. Officials also warned that cashing out Bitcoin could become costly if the market experiences instability.
Some South Korean lawmakers have urged the central bank to explore Bitcoin’s role in the financial system, but no formal discussions have taken place. Meanwhile, the country continues to ease crypto regulations, working on institutional trading reforms and considering exchange-traded funds to expand market opportunities.
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Michael Saylor has drawn attention with a poetic analogy, describing Bitcoin as an ‘Orange Dwarf‘ in a recent tweet. He likened Bitcoin to a steadily growing and intensifying star, portraying it as the brightest object in the financial system that gains strength as it attracts capital. Saylor also referred to Bitcoin as a digital energy network, reinforcing its role as a transformative financial asset.
Strategy has been at the forefront of Bitcoin adoption since 2020, amassing 499,096 BTC and becoming the largest corporate holder. Under Saylor’s leadership, the firm has also issued approximately $9 billion in convertible bonds, further cementing its influence in the crypto space. A new exchange-traded fund (ETF), BMAX, was launched to track companies holding Bitcoin on their balance sheets, with Strategy making up a significant portion of the fund.
Meanwhile, Bitcoin faces market volatility ahead of the US Federal Reserve’s upcoming meeting. With investors closely watching for updates on inflation and monetary policy, the Fed is expected to maintain its cautious stance, with potential interest rate cuts anticipated later in the year.
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The United States Senate Banking Committee has advanced the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act in an 18-6 vote. Despite some opposition from Democrat lawmakers, the bill has garnered bipartisan support. Notably, Senator Elizabeth Warren’s amendments—such as limiting stablecoin issuance to banking institutions—were rejected. Warren raised concerns that the bill, as is, could facilitate illicit financial activities, including terrorism financing and sanctions evasion.
Senator Tim Scott, Chair of the Senate Banking Committee, praised the bill as a victory for innovation, stating that it sets clear rules for stablecoin issuers. These include requiring one-to-one reserves, compliance with anti-money-laundering laws, and stronger safeguards to protect American consumers, all while reinforcing the US dollar’s position in the global economy.
The bill has undergone revisions to include stricter provisions, including enhanced anti-money-laundering measures, provisions to combat terrorist financing, and new safeguards to ensure sanctions compliance. Senator Bill Hagerty, who introduced the bill in February 2025, defended these updates against Warren’s proposals, arguing that the legislation already includes strong consumer protections and crime deterrence provisions. Legal experts suggest that the GENIUS Act is setting the stage for the integration of stablecoins with the traditional financial system.
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Turkey has unveiled a new set of cryptocurrency regulations, placing the Capital Markets Board (CMB) in full control of the sector. The new framework outlines strict criteria for Crypto Asset Service Providers (CASPs), including financial integrity and legal compliance, before they are allowed to operate. This move is part of the government’s efforts to enhance investor protection and stability in the crypto market. Additionally, CASPs are now required to insure user crypto assets, further bolstering security.
The new regulations also introduce substantial licensing and capital requirements for crypto businesses. Founders must demonstrate financial stability, and the capital must be paid in cash, with minimum thresholds determined by the CMB. Failure to meet these standards could result in the denial of operating licences. To ensure compliance, the CMB has been granted the power to revoke licences and impose penalties on companies that violate the rules.
These new rules come as part of Turkey’s broader effort to strengthen its financial regulatory framework and secure delisting from the Financial Action Task Force’s (FATF) grey list. By increasing oversight and promoting transparent operations, Turkey aims to make the cryptocurrency sector more secure without stifling innovation, positioning itself as a secure hub for blockchain technology and crypto trading.
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The Bank of Russia has proposed allowing select investors to trade cryptocurrencies under a three-year experimental legal regime.
The initiative, aimed at increasing market transparency, would permit only investors with at least $1.1 million in securities and deposits to participate. The Central bank also suggested introducing penalties for violations of the proposed framework.
Despite this move, the Bank of Russia reiterated its strict stance on cryptocurrency payments within the country. Bitcoin and other digital assets for transactions remain banned under Russia’s existing crypto regulations.
However, the government continues exploring the use of crypto for cross-border payments, with ongoing trials in foreign trade.
The central bank’s proposal could also open the door for regulated corporate investments in crypto. If implemented, this could pave the way for Russian firms to follow the strategy of companies like Strategy, which has amassed a significant Bitcoin portfolio.
The plan includes regulatory measures to mitigate the risks associated with crypto investments while expanding financial opportunities for experienced investors.
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Russia’s central bank has proposed a regulatory framework that would permit wealthy individuals to invest in cryptocurrencies, under a new ‘experimental’ regime for ‘specially qualified’ investors.
This initiative marks a significant shift in Russia’s approach to crypto assets, as the country has slowly relaxed its strong opposition to cryptocurrencies.
The central bank’s proposal would allow individuals whose investments exceed 100 million roubles or whose annual income surpasses 50 million roubles to participate in crypto trading.
While the proposal seeks to increase transparency within the cryptocurrency market, it also highlights the risks involved, reminding investors of the potential for financial losses.
The new regime would last for three years, providing a controlled environment for crypto investments. However, cryptocurrencies will still be banned as a form of payment in Russia, maintaining a cautious approach to their full integration into the economy.
This proposal follows a broader trend of easing cryptocurrency restrictions, particularly after a law was passed last year allowing businesses to use crypto in international trade.
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Singapore and Vietnam have signed an agreement to enhance cooperation on financial market regulation and digital asset oversight.
The Monetary Authority of Singapore and Vietnam’s State Securities Commission will exchange expertise on supervisory practices, anti-money laundering measures, and counter-terrorism financing as part of the deal. The move aligns with growing economic ties between the two nations.
The agreement is expected to support Vietnam in developing a more robust regulatory framework for digital assets while ensuring fair and transparent financial markets.
Singapore’s Assistant Managing Director for Capital Markets, Lim Tuang Lee, highlighted the importance of cross-border financial connectivity, reinforcing both countries’ commitment to market stability.
Vietnam’s SSC Chairperson Vu Thi Chan Phuong described the partnership as a significant milestone in bilateral cooperation.
The signing took place during an official visit to Singapore, attended by Singapore Prime Minister Lawrence Wong and Vietnam’s General Secretary To Lam. The collaboration reflects a shared vision for stronger financial oversight and deeper regional integration.
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A US federal jury has convicted Rowland Marcus Andrade, the founder of AML Bitcoin, on charges of wire fraud and money laundering.
Prosecutors revealed that Andrade deceived investors by falsely claiming the cryptocurrency featured advanced anti-money laundering technology and was on the verge of adoption by the Panama Canal Authority. No such agreement existed.
The fraudulent scheme allowed Andrade to raise millions of dollars, of which over $2 million was spent on luxury cars and real estate in Texas.
Federal agents traced investor funds through multiple bank accounts, leading to financial fraud charges. Acting US Attorney Patrick D. Robbins stressed that exploiting investors for personal gain would not go unpunished.
FBI and IRS officials highlighted their commitment to safeguarding financial markets from fraudulent schemes. Andrade is scheduled for sentencing on 22 July 2025 and faces up to 30 years in prison. His illegally acquired assets are also subject to forfeiture.
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Kraken has obtained an Electronic Money Institution (EMI) licence from the UK’s Financial Conduct Authority (FCA), allowing it to issue electronic money and improve deposit and withdrawal services for British customers.
The approval enables the exchange to strengthen ties with traditional financial institutions and expand its offerings in one of its most active markets.
FCA’s decision comes amid rising crypto adoption in the UK, with over seven million adults now holding digital assets. Kraken has reported increased trading volumes in GBP, further cementing its role in the country’s expanding crypto economy.
The approval follows Kraken’s recent authorisation under the EU’s MiFID framework, positioning the company as a key bridge between crypto and traditional finance across Europe.
Kraken has been active in the UK since 2014, becoming the first major exchange to introduce BTC/GBP trading pairs. Today, it supports over 300 cryptocurrencies and collaborates with major UK sports brands such as Williams Racing F1 and Tottenham Hotspur FC.
Looking ahead, the company plans to launch new crypto and fiat products for UK users, further enhancing its platform.
The exchange is also preparing for a potential initial public offering (IPO) in 2026, encouraged by what it sees as a more favourable regulatory climate.
Meanwhile, Kraken has successfully reached an agreement with the US Securities and Exchange Commission (SEC) to dismiss a lawsuit against it, securing a legal victory without penalties or changes to its business operations.
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A new meme coin, Everything is Computer (EIC), has taken the crypto market by storm after a viral comment from US President Donald Trump.
The phrase, which originated from Trump’s reaction to a Tesla’s interior, quickly became a meme on X, formerly Twitter. In response, traders launched the EIC token on Pump.fun, with its price initially surging to $0.007 on Raydium.
The token recorded over $15 million in trading volume within 24 hours, attracting significant attention across the Solana ecosystem.
Additional liquidity pools, including Meteora, also saw millions in activity as traders flocked to capitalise on the trend. However, EIC has since dropped to around $0.0028, reflecting the volatility of the memecoin sector.
Some investors are wary of potential risks, citing Pump.fun’s track record of meme coin failures and the recent LIBRA rug pull.
Despite this, the hype around Everything is Computer remains strong, with many believing its viral origins could help it avoid the fate of other short-lived meme coins. Whether it can maintain momentum or fade into obscurity remains to be seen.
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