The Federal Deposit Insurance Corporation (FDIC) has introduced new guidance, allowing FDIC-supervised institutions to engage in crypto-related activities without prior approval. It reverses the restrictions that previously limited banks’ involvement with crypto firms.
The updated guidance, outlined in Financial Institution Letter (FIL-7-2025), rescinds a 2022 directive. The previous directive required banks to notify the FDIC before engaging in digital asset activities.
The policy change follows the release of FDIC documents. These documents revealed efforts by the FDIC to pressure banks into severing ties with crypto businesses.
Acting FDIC Chairman Travis Hill welcomed the shift, stating it represents a break from past practices. He added that this new approach would allow banks to engage with crypto and blockchain activities. However, they must manage associated risks effectively.
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BlackRock’s launch of its European Bitcoin exchange-traded product (ETP) is considered a major moment in Bitcoin’s global adoption. Analysts, however, expect more modest inflows compared to its US counterpart.
The iShares Bitcoin ETP began trading on 25 March on Xetra, Euronext Amsterdam, and Euronext Paris, allowing European investors to gain exposure to Bitcoin.
Bitfinex analysts noted that the product is unlikely to mirror the success of the US-based iShares Bitcoin Trust exchange-traded fund (ETF). They pointed out that the US ETFs benefited from institutional demand and a larger capital market.
BlackRock’s global reputation and substantial assets under management may drive further interest in Bitcoin investment products across Europe.
Despite expectations of lower inflows, the company’s presence in the market may lead to long-term success. As regulatory clarity improves, more institutional capital may enter the crypto space.
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Panama has unveiled a new draft bill aimed at regulating cryptocurrencies and establishing a legal framework for blockchain-based services. The proposed law seeks to position the country as a leader in fintech in Latin America. It provides a clear structure for digital assets in financial transactions.
Under the bill, cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and stablecoins are legally recognised as valid payment methods for goods, services, and debt settlements.
The legislation also mandates licensing requirements for Virtual Asset Service Providers (VASPs), including exchanges and wallets. These providers would need to register with Panama’s Financial Analysis Unit (UAF).
The bill addresses compliance measures, enforcing Know-Your-Customer (KYC) regulations. It enforces anti-money laundering (AML) regulations in line with international financial standards. Non-compliant entities face administrative sanctions or criminal penalties.
In addition to financial regulation, the bill encourages the use of blockchain technology in public administration. It includes digital identity systems and tokenized securities, promoting transparency and reducing inefficiencies.
The legislation also recognises smart contracts as legally enforceable, paving the way for innovative financial products and automated business processes.
The proposal marks a significant shift from previous crypto legislation in Panama, which faced partial vetoes in 2022. The draft bill is now under review in the National Assembly, with potential amendments before a final vote.
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Ukraine’s state-owned railway, Ukrzaliznytsia, has partially restored its online services following a large-scale cyber attack that disrupted passenger and freight transport systems. The attack, first reported on Sunday, forced passengers to buy tickets in person as the IT system went offline.
Ukrzaliznytsia announced that online ticket sales and refunds are now available in a backup format. However, due to high demand, technical interruptions may still occur, and passengers are advised to use the service only for urgent travel.
Despite ongoing challenges, the company reported that 12,000 tickets were successfully purchased through its online system after the restoration. The railway operator continues to monitor the situation and work towards fully stabilising its services in Ukraine.
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The European Insurance and Occupational Pensions Authority (EIOPA) has proposed that insurance firms must fully back their cryptocurrency holdings with capital. The recommendations are intended to address the ‘inherent risks and high volatility’ associated with digital assets.
EIOPA presented four regulatory options, with its preferred choice requiring insurers to assume a total loss on crypto holdings. It would mean a far stricter standard than those applied to traditional assets such as stocks and real estate.
Stocks face capital charges ranging from 39% to 49% under existing solvency capital regulations. In contrast, real estate is subject to a lower charge of 25%.
The proposed measure aims to bridge a regulatory gap between the Capital Requirements Regulation (CRR) and the Markets in Crypto-Assets Regulation (MiCA). EIOPA stated that an 80% stress level for crypto holdings would not be ‘sufficiently prudent’.
Luxembourg and Sweden could be the most affected if the proposal is adopted. They account for the largest share of crypto-related insurance undertakings in Europe.
Despite crypto holdings currently making up just 0.0068% of total insurance-related assets in the EU, EIOPA stressed the potential for future growth and the need for stringent safeguards.
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Fashion retailer H&M is set to introduce AI-generated ‘twins’ of 30 real-life models, which will be used in social media and marketing campaigns. The company says this move, made in collaboration with Swedish tech firm Uncut, explores new creative possibilities while preserving a ‘human-centric’ approach.
H&M has emphasised that models will maintain control over how their digital replicas are used, including receiving payment similar to traditional modelling contracts. However, the announcement has sparked backlash across the fashion industry.
Critics, including influencer Morgan Riddle, fear that AI models could take away job opportunities from photographers, stylists, and other production crew. Trade unions like Equity have voiced concern over the lack of legal protections for models, warning that some are being pushed into unfair contracts that compromise their rights and ownership over their image.
The company says AI-generated images will be clearly marked and used responsibly, complying with platform rules on disclosing synthetic content. H&M is not alone in testing the waters—other fashion brands such as Levi’s and Hugo Boss have also experimented with AI-generated visuals, prompting debates about the future of creative jobs in the industry.
Why does it matter?
While H&M highlights potential upsides like less travel and increased flexibility for models, union leaders insist stronger protections and industry-wide agreements are urgently needed to prevent exploitation in the evolving digital fashion landscape.
The European Commission has announced plans to invest €1.3 billion in artificial intelligence, cybersecurity, and digital skills development under the Digital Europe Programme for the period 2025 to 2027.
The funding aims to strengthen Europe’s position in advanced technologies and ensure that citizens and businesses can benefit from secure and cutting-edge digital tools.
Henna Virkkunen, the European Commission’s digital chief, emphasised the importance of the initiative, stating that European tech sovereignty depends on both technological innovation and the ability of people to improve their digital competences.
The investment reflects a strategic commitment to ensuring Europe remains competitive in the global digital landscape.
The Digital Europe Programme has been central to the EU’s digital transformation agenda. Through this latest funding round, the EU seeks to further enhance its technological resilience, support innovation, and prepare the workforce for the demands of a fast-evolving digital economy.
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US lawmakers introduced the Stablecoin Transparency and Accountability for a Better Ledger Economy (STABLE) Act. The aim is to strengthen the regulation of stablecoins.
A proposal aims to ensure that dollar-backed digital tokens comply with transparency standards, helping to protect consumers and enhance operational clarity.
The bill is a part of a larger push for stablecoin regulation, with bipartisan support from the Senate. It is under review by the Senate, while the House continues refining its version.
President Donald Trump urged lawmakers to pass stablecoin legislation before the August 2025 recess. A shift from informal issuance to formal financial infrastructure signals that stablecoins may soon face the same scrutiny as traditional financial products.
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EU Tech Commissioner Henna Virkkunen has voiced support for using a Regulation, rather than a Directive, in the upcoming Digital Networks Act.
She says this would ensure consistent implementation across all member states, avoiding the patchwork seen under current telecom rules.
Virkkunen also hinted at easing merger rules and reducing ex-ante regulation within the existing framework, the European Electronic Communications Code.
These changes, she noted, could encourage investment and help the EU meet its goal of full 5G and fibre coverage by 2030.
She criticised slow national efforts to phase out high-risk Chinese components from 5G networks, calling for stronger action.
Her stance follows pressure from MEPs concerned about ongoing cybersecurity risks and lack of enforcement.
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A member of Kazakhstan’s lower house of parliament, Azat Peruashev, has proposed the creation of a ‘crypto bank‘ in the country. The aim is to provide a legal exchange and custody platform for digital assets.
Peruashev pointed out the absence of a proper legal infrastructure for cryptocurrency in Kazakhstan. It has led to the proliferation of illegal exchanges and the shadow economy. He suggested that a national crypto bank could prevent scams, protect citizens, and stop money from leaving the country illegally.
The lawmaker argued that, currently, 90% of cryptocurrency transactions occur outside the legal sector. He claimed that this gap in regulation has allowed criminals to use crypto for illicit activities. These activities include tax evasion and financing criminal operations.
Peruashev highlighted that billions of tenge worth of cryptocurrency are being transferred abroad without state control. His proposal envisions a legal framework for managing digital assets and preventing fraudulent activities.
Other lawmakers, including Ekaterina Smyshlyaeva, have shown support for crypto reform. Smyshlyaeva has suggested decriminalising crypto trading for individuals on licensed platforms. She is also calling for tighter control over licensed exchanges.
President Kassym-Jomart Tokayev has also shown interest in expanding Kazakhstan’s crypto infrastructure to ensure the country remains competitive in the global crypto economy.
The country’s crypto mining sector was later impacted by power shortages. Despite this, global crypto operators continue to set up shop in Kazakhstan, attracted by its low energy costs.
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