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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Australia’s government has ruled out creating a strategic cryptocurrency reserve, despite the US pressing with plans to hold assets like Bitcoin, Ether, XRP, Solana, and Cardano. The Albanese government remains focused on regulating the digital asset sector rather than following the US lead. A spokesperson for the Assistant Treasurer confirmed that efforts are concentrated on developing a clear regulatory framework rather than acquiring crypto.
Meanwhile, the opposition coalition, which could return to power in the upcoming election, has not yet decided whether it would reconsider the decision. Some industry experts believe that while a crypto reserve is an interesting concept, it carries risks due to market volatility and concentration concerns. Others suggest a sovereign wealth fund investing in crypto could be a more viable alternative.
Despite rejecting a national reserve, Australia remains a growing player in the crypto space. Regulators have ramped up oversight, with new anti-money laundering measures and proposed authorisation rules for crypto firms. The country has also become a hub for Bitcoin and crypto ATMs, now ranking third globally with over 1,453 machines.
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Binance has announced it will delist nine stablecoins in the European Economic Area (EEA) on 31 March, as part of its efforts to comply with the Markets in Crypto-Assets Regulation (MiCA). Among the stablecoins being removed are Tether’s USDT and Dai (DAI). Despite the delisting, users will still be able to hold and withdraw these tokens, but they will be unable to use them for other products or services on the platform.
The exchange has assured users that MiCA-compliant stablecoins, like USDC and Eurite (EURI), will remain available. Binance is also encouraging affected users to convert non-compliant stablecoins into MiCA-approved alternatives, or fiat currencies, to continue accessing Binance’s full range of services.
While Binance is still working on obtaining a MiCA licence, the delisting process aligns with regulations that require all non-compliant tokens to be removed by March 2025. However, questions remain about how the platform will handle these assets once the MiCA licence is granted.
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Footballing legend Ronaldinho Gaúcho has launched a new cryptocurrency, Star10 (STAR10), on the BNB Chain, promising exclusive benefits and signed collectables for holders.
The token soared to a $397 million market cap within hours before dropping back to $274 million, drawing immediate scrutiny from analysts and investors. Concerns have been raised over its tokenomics, particularly the 35% insider allocation, with 20% reserved for Ronaldinho himself.
Security experts initially flagged the token as a potential risk, warning that its creator had the power to burn investor assets. However, blockchain security firm SlowMist later confirmed that ownership of the token contract had been renounced, reducing the risk of malicious intervention.
Despite this, the broader meme coin market remains under the spotlight, especially after high-profile failures like Libra (LIBRA), which collapsed after insiders withdrew millions in liquidity.
Regulatory experts warn that investors must be cautious, distinguishing between meme coins as digital collectables and outright scams. With celebrity-backed tokens becoming more common, closer scrutiny of transparency and security is growing, as past failures continue to shake confidence in the sector.
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Eric Trump has warned Wall Street to adapt to the growing crypto movement or risk becoming irrelevant. Speaking on Sunday, he praised his father’s announcement of a Strategic Crypto Reserve (SCR) for the US, calling the timing ‘genius’ and criticising traditional finance. The market responded swiftly, with Bitcoin surging 10% to $94,343 and Ethereum climbing 13%, while altcoins like Cardano and Solana saw massive gains. This move, announced by Donald Trump on Truth Social, confirmed that BTC, ETH, XRP, SOL, and ADA would be at the heart of the reserve.
The SCR aims to elevate the crypto industry, which Trump believes has faced years of attacks from the Biden administration. In his posts, Trump clarified that the reserve would involve active purchases of crypto over time, as opposed to simply holding onto seized assets, a distinction that sparked debate in the crypto community. While many saw the reserve as a positive development, some questioned the inclusion of specific coins like XRP and ADA, and others voiced concerns about the potential destabilising effects on the US dollar.
Despite differing opinions, the announcement has reinvigorated market confidence, with Bitcoin recovering from recent lows. Trump’s upcoming White House Crypto Summit on Friday will likely provide more details on the reserve’s structure, leaving investors eager to see how the move impacts both crypto and traditional finance in the long term.
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A US federal judge has dismissed a fraud lawsuit filed by the Securities and Exchange Commission (SEC) against Richard Heart, the founder of the cryptocurrency platform Hex.
The SEC accused Heart of raising over $1 billion through unregistered offerings and misappropriating investor funds for luxury purchases, including sports cars and a black diamond.
However, the judge ruled that the SEC’s claims lacked a direct link to the United States, as Heart’s activities were primarily directed at a global audience and occurred abroad.
The SEC had also alleged that Heart misled investors with exaggerated claims about potential returns from his Hex token and other crypto projects.
Despite these accusations, the court determined that the transactions, including fund misappropriations, took place outside of US jurisdiction, with no clear evidence of US-based investors being affected.
Heart’s legal team welcomed the ruling, describing it as a significant victory for the cryptocurrency industry. They argued that the decision highlighted the need for clearer regulations surrounding digital assets. The SEC has not yet commented on the ruling.
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The founder of cryptocurrency financial services firm Gotbit has been extradited from Portugal to the United States to face charges of market manipulation and fraud.
Aleksei Andriunin, a 26-year-old Russian national, appeared in a Boston court, where he pleaded not guilty to wire fraud and conspiracy charges. Prosecutors allege his company engaged in sham trading to artificially inflate the value of digital tokens.
Authorities claim that between 2018 and 2024, Gotbit manipulated cryptocurrency trading volumes through a practice known as ‘wash trading’. The FBI’s ‘Operation Token Mirrors‘ played a key role in the investigation, reportedly using its own digital token to detect fraudulent activities.
Gotbit allegedly facilitated wash trades worth millions and profited tens of millions of dollars by boosting the market appeal of cryptocurrencies such as Saitama and Robo Inu.
Andriunin was arrested in Portugal in October when US authorities first announced charges against him and others. His company and two employees in Russia also face legal action, though they have not yet appeared in court.
The case is part of a broader crackdown on fraud in the cryptocurrency sector.
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