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Guns N’ Roses’ Slash quits X after account hacked to promote fake Solana meme coin

Guns N’ Roses guitarist Slash has permanently quit the social media platform X after his account was repeatedly hacked to promote a Solana-based meme coin. The attack, which occurred on 2 April, involved hackers using his verified account to falsely present the coin, called GUNS, as an official Guns N’ Roses project.

In his farewell tweet, Slash explained that his decision was driven by the repeated hacks. He signalled a shift in how he intends to stay connected with fans. He encouraged followers to explore his presence on other platforms.

The hack came just after April Fool’s Day, with hackers posting several promotional messages about the fake GUNS coin. The posts, which were eventually deleted, claimed the coin would launch soon and announced a $1M investment. While the token is still live, its market value has plummeted to around $3,300.

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EU refuses to soften tech laws for Trump trade deal

The European Union has firmly ruled out dismantling its strict digital regulations in a bid to secure a trade deal with Donald Trump. Henna Virkkunen, the EU’s top official for digital policy, said the bloc remained fully committed to its digital rulebook instead of relaxing its standards to satisfy American demands.

While she welcomed a temporary pause in US tariffs, she made clear that the EU’s regulations were designed to ensure fairness and safety for all companies, regardless of origin, and were not intended as a direct attack on US tech giants.

Tensions have mounted in recent weeks, with Trump officials accusing the EU of unfairly targeting American firms through regulatory means. Executives like Mark Zuckerberg have criticised the EU’s approach, calling it a form of censorship, while the US has continued imposing tariffs on European goods.

Virkkunen defended the tougher obligations placed on large firms like Meta, Apple and Alphabet, explaining that greater influence came with greater responsibility.

She also noted that enforcement actions under the Digital Markets Act and Digital Services Act aim to ensure compliance instead of simply imposing large fines.

Although France has pushed for stronger retaliation, the European Commission has held back from launching direct countermeasures against US tech firms, instead preparing a range of options in case talks fail.

Virkkunen avoided speculation on such moves, saying the EU preferred cooperation to conflict. At the same time, she is advancing a broader tech strategy, including plans for five AI gigafactories, while also considering adjustments to the EU’s AI Act to better support small businesses and innovation.

Acknowledging creative industries’ concerns over generative AI, Virkkunen said new measures were needed to ensure fair compensation for copyrighted material used in AI training instead of leaving European creators unprotected.

The Commission is now exploring licensing models that could strike a balance between enabling innovation and safeguarding rights, reflecting the bloc’s intent to lead in tech policy without sacrificing democratic values or artistic contributions.

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Trump signs resolution to reverse DeFi tax reporting rule

On Thursday, President Donald Trump signed a resolution reversing an IRS rule. The rule would have required certain crypto brokers, including decentralized finance (DeFi) platforms, to report customer transactions to the tax agency.

The rule, scheduled to take effect in 2026, aimed to ensure tax compliance for crypto users but faced backlash from the industry.

The measure, part of the Biden administration’s efforts to strengthen crypto tax enforcement, was criticised for being technically difficult to follow and legally problematic. DeFi platforms do not act as intermediaries or possess user identities, which made the rule unworkable, according to industry leaders.

Lawmakers supporting the repeal argued that the rule hindered innovation, infringed on privacy, and would overload the IRS with unnecessary filings. Trump’s signature reflects his commitment to supporting the crypto industry and fostering a favourable environment for digital assets in the US.

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Russian firm urges government to regulate crypto for international trade

A Russian logistics firm, ETE Group, has requested that the Prime Minister establish a regulatory framework for using cryptocurrency in international trade. In a letter to the Prime Minister, the company called for changes to Russia’s Civil and Tax Codes to allow crypto transactions with foreign suppliers.

ETE Group, based in Moscow and Vladivostok, noted that the lack of regulation creates risks for businesses seeking to use cryptocurrency for payments. The firm has observed a significant rise in interest in crypto payments, with business sector interest increasing by 40% in 2024.

ETE Group believes that introducing regulations for crypto issuance, circulation, and accounting will help resolve ongoing issues with international payments. The firm particularly highlights delays caused by sanctions and the disconnection of Russian firms from the SWIFT network.

Russia’s sanctions, imposed after the war in Ukraine, have disrupted trade with countries like China and Kazakhstan, with payment delays often extending from weeks to months. ETE Group has stated that using crypto could offer a solution, bypassing traditional financial systems.

The company also highlighted that while Russian law currently prohibits crypto payments for goods, growing interest in the technology could prompt a policy change.

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Japan’s FSA proposes new framework for regulating crypto assets in Japan

Japan’s Financial Services Agency (FSA) released a discussion paper on 10 April, titled ‘Examining the Structure of Regulatory Frameworks Related to Crypto Assets’. The paper highlights key issues such as regulatory oversight and transparency. It also addresses insider trading prevention and industry-specific regulations, including the travel rule and staking practices.

A significant proposal in the paper is the classification of crypto assets into two categories. Type 1, Funding/Business Crypto Assets, refers to assets raised for fundraising purposes, such as some utility tokens. Type 2, Non-Fundraising/Non-Business Crypto Assets, covers assets like Bitcoin and Ethereum, which are not linked to fundraising efforts.

The FSA aims to bridge the information gap for Type 1 assets, focusing on the intended use of raised funds. However, the agency faces challenges in linking Type 2 assets to specific issuers, complicating the enforcement of disclosure rules.

Additionally, Japan’s FSA plans to introduce a crypto bill by 2026, aiming to classify cryptocurrencies under traditional securities laws and subject them to insider trading regulations.

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New Hampshire House approves Bitcoin reserve bill

New Hampshire’s Bitcoin reserve bill, House Bill 302, has passed the state’s House of Representatives. It becomes the fourth state to advance such legislation.

The vote on 10 April was 192-179 in favour of the bill, following a 16-1 vote by the House Commerce and Consumer Affairs Committee in March. The bill now moves to the Senate for further debate before potentially being signed by Governor Kelly Ayotte.

If approved, HB302 would allow the state treasurer to allocate up to 10% of New Hampshire’s general fund and other approved funds into digital assets. It would also cover Bitcoin and precious metals like gold, silver, and platinum.

To qualify for the reserve, a cryptocurrency must have a market capitalisation of at least $500 billion, a threshold currently met only by Bitcoin.

Supporters of the bill argue it could provide new revenue streams and diversify state finances. Republican Representative Jordan Ulery said it could generate significant earnings for the state through strategic investments in assets like Bitcoin.

Meanwhile, New Hampshire is also reviewing other blockchain-related proposals, including bills on stablecoins and broader blockchain regulations.

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New Bitget Wallet feature helps traders assess token risks

Bitget Wallet has launched a new feature that enables traders to assess potential risks before investing in tokens. The tool is currently available for six major blockchains. It helps users identify vulnerabilities that may indicate higher trading risks, such as token centralisation or active minting permissions.

The feature, found within the wallet’s candlestick chart interface, provides crucial data on a token’s permission status, distribution among top holders, and burn ratios. These indicators allow traders to assess the risk of manipulation, price dumps, or rug pulls.

For example, a high concentration of tokens in a few wallets can signal manipulation, while a low burn ratio might indicate poor project transparency.

Bitget Wallet’s COO, Alvin Kan, emphasised the importance of providing accessible tools for risk evaluation. It is particularly crucial as decentralised finance continues to grow.

The platform aims to offer users more security and confidence when navigating Web3. The new risk detection feature is part of its broader strategy to enhance transaction safety.

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Investors shift to tokenised gold as trade fears grow

Tokenised gold trading has surpassed $1 billion for the first time since the 2023 US banking crisis. The surge reflects a renewed investor shift towards safe-haven assets.

The renewed interest follows President Donald Trump’s import tariffs, fuelling trade war fears and boosting demand for safer assets.

Data from CEX.io shows a sharp rise in digital gold activity since Trump’s first tariff announcement in January.

Paxos Gold (PAXG) trading volume surged by over 900%, Tether Gold (XAUT) by more than 300%, and Kinesis Gold (KAU) by over 83,000%.

Since the start of 2025, tokenised gold has recorded a 21% increase in market capitalisation and a trading volume boost of over 1,000%.

Physical gold has also reached record highs, trading above $3,100 per ounce at the end of March.

Analysts say tokenised gold is gaining traction as a diversification tool among crypto-native investors. However, it remains in the early stages compared with traditional gold markets.

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Victims of AI-driven sex crimes in Korea continue to grow

South Korea is facing a sharp rise in AI-related digital sex crimes, with deepfake pornography and online abuse increasingly affecting young women and children.

According to figures released by the Ministry of Gender Equality and Family and the Women’s Human Rights Institute, over 10,000 people sought help last year, marking a 14.7 percent increase from 2023.

Women made up more than 70 percent of those who contacted the Advocacy Center for Online Sexual Abuse Victims.

The majority were in their teens or twenties, with abuse often occurring via social media, messaging apps, and anonymous platforms. A growing portion of victims, including children under 10, were targeted due to the easy accessibility of AI tools.

The most frequently reported issue was ‘distribution anxiety,’ where victims feared the release of sensitive or manipulated videos, followed by blackmail and illegal filming.

Deepfake cases more than tripled in one year, with synthetic content often involving the use of female students’ images. In one notable incident, a university student and his peers used deepfake techniques to create explicit fake images of classmates and shared them on Telegram.

With over 300,000 pieces of illicit content removed in 2024, authorities warn that the majority of illegal websites are hosted overseas, complicating efforts to take down harmful material.

The South Korean government plans to strengthen its response by expanding educational outreach, supporting victims further, and implementing new laws to prevent secondary harm by allowing the removal of personal information alongside explicit images.

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TikTok affair, China disagrees with Trump over $54B deal due to tariffs rise

The fate of TikTok hangs in the balance as China and the US trade moves over a potential deal to keep the app alive for its 170 million American users.

On 9 April 2025, China’s commerce ministry declared that any sale of TikTok must pass its government’s strict review, throwing a wrench into negotiations just as President Donald Trump hinted that a deal remains within reach.

China’s stance is clear: no deal gets the green light without approval.

The ministry stressed that TikTok’s sales must comply with Chinese laws, particularly those governing technology exports, a nod to a 2020 regulation that gives Beijing veto power over the app’s algorithm, the secret ingredient behind its viral success.

The disagreement comes after Trump’s recent tariff hikes, which slapped a 54% duty on Chinese goods, prompting Beijing to push back hard.

China had already signalled it wouldn’t budge on the deal following Trump’s tariff announcement, a move that doesn’t seem to give TikTok too much significance in a broader trade war.

Meanwhile, Trump, speaking on 9 April 2025, kept hope alive, insisting that a TikTok deal is ‘still on the table.’ He extended the deadline for ByteDance, TikTok’s Chinese parent, to find a non-Chinese buyer by 75 days, pushing the cutoff to mid-June after a near-miss on 5 April.

The deal, which would spin off TikTok’s US operations into a new entity majority-owned by American investors, could have been nearly finalised before China’s objections stalled it.

Investors, too, are on edge, with the US entity’s future clouded by geopolitical sparring.

Trump’s optimism, paired with his earlier willingness to ease tariffs, shows he’s playing a long game, balancing national security fears with a desire to keep the app functional for its massive US audience.

Washington has long worried that TikTok’s Chinese ownership makes it a conduit for Beijing to spy on the Americans or sway public opinion, a concern that led to a 2024 law demanding ByteDance divest the app or face a ban.

That law briefly shuttered TikTok in January 2025, only for Trump to step in with a reprieve. Now, with ByteDance poised to hold a minority stake in a US-based TikTok, the deal’s success hinges on China’s nod, a nod that looks increasingly elusive as trade tensions simmer.

If China blocks the deal, it could set a precedent for other nations to tighten their grip on digital exports, radically reshaping governmental interdisciplinary approaches and cyberspace, posing a final question: will the internet, as we know it, remain as a globally unified societal enabler or it will divide into national space with new monopolies?