Vietnam’s Ministry of Finance is set to introduce a legal framework for digital assets and cryptocurrencies, with plans to launch a state-licensed digital currency exchange.
Deputy Minister Nguyen Duc Chi confirmed the initiative, highlighting the government’s goal to bring oversight and legal protections to the growing sector.
The move follows Prime Minister Pham Minh Chinh’s call for clear regulations to manage digital assets. The Ministry of Finance and the State Bank of Vietnam are working on rules to ensure investor safety whilst fostering innovation.
The proposed exchange would allow individuals and businesses to trade digital assets under state supervision, whilst companies may soon be permitted to issue virtual assets for financial mobilisation.
Vietnam lacks formal legal definitions for digital assets, pushing many blockchain firms to register abroad. The absence of clear rules has led to lost tax revenue and limited domestic oversight.
However, with Vietnam ranking among the world’s top three countries for digital asset ownership, seeing $120 billion in inflows in 2023, the government aims to regulate and harness the sector’s potential.
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Belarusian President Aleksandr Lukashenko has urged officials to strengthen the country’s energy infrastructure and consider cryptocurrency mining to utilise surplus electricity.
Addressing newly appointed Energy Minister Aleksei Kushnarenko, he highlighted the need to upgrade 5,700km of power networks essential for homes and electric vehicles. While high-voltage systems are stable, weaker areas require reinforcement to prevent outages like those in the Gomel Region.
Belarus has been exploring crypto mining for years, with Energy Minister Viktor Karankevich confirming in 2021 that a feasibility study was conducted.
Lukashenko wants to accelerate these efforts, citing global demand for digital assets and the country’s potential to attract investors or establish state-backed mining operations. Officials have been given responsibility for streamlining regulations and presenting concrete plans.
Alongside crypto mining, Lukashenko promotes increased electricity use for heating and hot water, supported by plans for a second nuclear power plant.
He sees this as a long-term strategy to ensure energy reliability and economic growth, positioning Belarus as a key player in the digital asset space and sustainable energy development.
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The International Monetary Fund (IMF) has urged El Salvador to stop public-sector Bitcoin purchases as part of its $1.4 billion funding deal with the country. In newly issued documents, the IMF stressed that the government should not voluntarily accumulate Bitcoin or issue any debt instruments tied to it.
Méndez Bertolo, the IMF’s executive director for El Salvador, stated that the fund aims to improve governance, transparency, and economic resilience while mitigating Bitcoin-related risks.
Recent amendments to the Bitcoin Law have clarified Bitcoin’s legal nature, ensuring that its acceptance remains voluntary and that tax payments continue in US dollars. The public sector’s role in Bitcoin adoption has also been scaled back.
The IMF reaffirmed its stance that El Salvador’s Bitcoin engagement should remain limited, in line with international financial policies.
The government has committed to enhancing regulation and supervision of digital assets, aligning with evolving global standards. Despite these restrictions, President Nayib Bukele has continued to acquire Bitcoin, with the country’s holdings now reaching 6,100 BTC.
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India’s Enforcement Directorate (ED) has chosen CoinDCX to manage and store seized digital assets as part of a crackdown on cryptocurrency-related financial crimes.
The partnership follows high-profile fraud cases like GainBitcoin and BitConnect, which have raised concerns over investor protection. CoinDCX will offer secure custody services to safeguard these assets, implementing advanced security protocols to ensure their integrity.
In a recent case, the ED seized digital assets worth approximately $198 million linked to the BitConnect scam, which defrauded investors worldwide.
Earlier, the Central Bureau of Investigation (CBI) had seized $2.88 million in the GainBitcoin scam, uncovering evidence of financial misappropriation and cross-border transactions. These actions highlight the increasing efforts by authorities to tackle large-scale cryptocurrency fraud.
As cryptocurrency adoption rises in India, regulatory bodies are focusing on stronger enforcement to protect investors from fraudulent schemes.
The collaboration with CoinDCX is part of a broader strategy to ensure transparency in the handling of seized funds and to maintain the integrity of ongoing investigations.
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The United States Senate has voted 70-27 to overturn an IRS rule that would have imposed new tax reporting requirements on decentralised finance (DeFi) brokers.
The decision, backed by both parties, follows concerns that the rule was impractical for platforms that do not operate like traditional financial institutions. Critics, including the digital asset think tank Coin Centre, argued that enforcing such measures would be ‘technologically unfeasible’.
The rule, introduced in December, aimed to broaden the definition of ‘brokers’ to include DeFi platforms, requiring them to report user data.
However, the resolution must still pass the House of Representatives before reaching President Trump, who is expected to sign it into legislation. If enacted, it would prevent the IRS from imposing similar rules in future, marking a significant victory for the cryptocurrency industry.
The Blockchain Association, representing firms like Coinbase and Kraken, welcomed the decision, saying it protects DeFi innovation from unnecessary restrictions.
The Senate’s move also aligns with previous efforts to reverse SEC standards on digital assets. It could pave the way for broader cryptocurrency regulations, with stablecoin and market structure laws expected to be discussed next.
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BankPozitif, a leading digital bank in Turkey, has partnered with Swiss firm Taurus to provide institutional-grade cryptocurrency safekeeping services. This move places BankPozitif at the forefront of Turkey’s rapidly growing digital asset sector, as fintech adoption surges across the country. The bank will integrate Taurus-PROTECT™, a safekeeping platform for cryptocurrencies and tokenised assets, along with Taurus-EXPLORER™, which enables blockchain connectivity.
Chairman Dr Erkan Kork highlighted Turkey’s expanding banking sector, now worth 30 trillion liras, and the increasing demand for digital asset services. The partnership aligns with BankPozitif’s focus on innovation and digital transformation, reinforcing its commitment to staying ahead in the evolving financial landscape.
Taurus, which already collaborates with financial giants like Deutsche Bank and State Street, sees Turkey as a key market for the adoption of digital assets. With strong institutional interest and a constructive regulatory environment, the partnership signals a broader trend of traditional banks embracing crypto services to meet growing demand.
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South Korea’s financial regulators are closely monitoring Japan’s moves towards approving Bitcoin exchange-traded funds (ETFs), with reports suggesting that Seoul may follow suit if Tokyo takes further action. Since late last year, South Korea’s Financial Services Commission (FSC) has discussed Bitcoin ETF approval, but it has maintained a cautious stance towards crypto. However, recent developments in Japan have sparked new responses from South Korean regulators.
The Japanese Financial Services Agency (FSA) is reportedly considering reclassifying cryptocurrency as an investment tool and approving Bitcoin and altcoin ETFs. This potential shift has caught the attention of South Korean regulators, who have reviewed Japan’s policies and shared their findings within Seoul. The FSA aims to implement new crypto regulations by June, and this could set the stage for further legislative changes by 2025 or 2026.
While South Korean regulators have traditionally been hesitant, some financial chiefs have expressed concern over the country lagging behind rival nations. The FSC has recently indicated that it is unlikely to approve virtual asset ETFs shortly, citing Japan’s approach as a key reason. As Japan pushes ahead with its plans, it remains to be seen how South Korea will respond to these growing crypto policy shifts.
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Israel’s central bank has unveiled an early blueprint for a potential digital shekel, setting out its design, functionality, and regulatory considerations. While no final decision has been made on issuing a central bank digital currency (CBDC), the Bank of Israel is assessing its potential benefits, including lower transaction costs, improved privacy, and enhanced financial infrastructure.
Under the proposed plan, the central bank would issue the digital shekel, while private firms would manage user onboarding and financial services. The currency is expected to support offline transactions, instant settlements, and interoperability with other payment systems, ensuring it is widely accessible to the public and businesses alike.
To refine the digital shekel’s features, Israel has launched a public consultation, allowing individuals and businesses to submit feedback until April 2025. A final decision on whether to proceed with the CBDC is expected after 2026, based on further research, regulatory considerations, and technological advancements.
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The US Securities and Exchange Commission (SEC) has agreed to dismiss its lawsuit against cryptocurrency exchange Kraken, marking a significant shift in regulatory oversight under the new administration.
Kraken, which was accused of operating as an unregistered securities exchange, announced that the case was dismissed with prejudice, meaning it cannot be refiled. The company maintained that the lawsuit was politically motivated and hindered innovation in the crypto sector.
Kraken stated that the dismissal involved no admission of wrongdoing, no penalties, and no required changes to its business model.
The SEC had sued Kraken in 2023 as part of a broader crackdown on crypto firms under former SEC Chair Gary Gensler. However, the regulator has since scaled back its enforcement efforts, also ending a similar case against Coinbase and considering a resolution in its fraud case against entrepreneur Justin Sun.
The decision follows United States President Donald Trump’s appointment of Paul Atkins, a lawyer with a pro-crypto stance, to lead the SEC. Kraken remains one of the world’s largest cryptocurrency exchanges, ranking 10th globally in trading volume and liquidity.
The outcome signals a shift in the regulatory landscape, with growing support for digital assets under the current administration.
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The US-China trade war has reignited, putting pressure on financial markets, including cryptocurrencies. Tensions escalated after China imposed new tariffs of up to 15% on US farm imports, including wheat, corn, and meat. An additional 10% tax was placed on other key exports such as soybeans, pork, seafood, and fruit, set to take effect on 10 March.
This latest move follows President Donald Trump’s decision to double tariffs on Chinese goods to 20%, announced a day earlier. The US government also confirmed that tariffs on imports from Mexico and Canada would rise to 25%, causing a widespread downturn in risky assets.
Bitcoin (BTC), often seen as a hedge against economic instability, was not spared from the market sell-off. The leading cryptocurrency dropped by 2% on the day, trading near $84,200 at the time of writing, according to CoinDesk and TradingView data. Investors remain cautious as geopolitical tensions weigh on sentiment.
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