New Hampshire’s Bitcoin bill has cleared a major hurdle, passing the House Commerce and Consumer Affairs Committee with a 16-1 vote. The bill now moves to the House floor, where lawmakers will decide whether to allow the state treasurer to invest up to 5% of certain state funds in Bitcoin. While the bill does not mention Bitcoin by name, it limits investments to digital assets with a $500 billion market cap, making Bitcoin the only eligible cryptocurrency.
Introduced by Republican Keith Ammon and co-sponsored by Democrats Chris McAleer and Carry Spier, the bill originally proposed a 10% allocation but was later amended to 5%. It also permits investments in gold, silver, and platinum while removing provisions for stablecoins and staking. Treasurer Monica Mezzapelle has expressed interest in using the bill’s framework if it becomes law.
New Hampshire joins several US states, including North Carolina, Oklahoma, and Texas, in advancing Bitcoin-related legislation. Meanwhile, at the federal level, former President Donald Trump has proposed a Crypto Strategic Reserve, which is expected to be composed primarily of Bitcoin.
For more information on these topics, visit diplomacy.edu.
The Ministry of Finance and the Bank of Russia are leading discussions on the initiative, which aims to establish a regulated space for crypto trading.
Whilst the project remains in its early stages, it would allow professional investors to engage in the market under government supervision.
Currently, Russians can own crypto but cannot use it as legal tender, and there is no centralised exchange for digital assets in the country, forcing traders to rely on foreign platforms.
Despite the ban on domestic exchanges, Garantex, a Russian-based platform sanctioned by the US and the EU, remains operational.
The exchange, headquartered in Moscow, enables rouble transactions through major Russian banks, raising concerns over regulatory oversight and enforcement.
For more information on these topics, visit diplomacy.edu.
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.
For more information on these topics, visit diplomacy.edu.
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.
For more information on these topics, visit diplomacy.edu.
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.
For more information on these topics, visit diplomacy.edu.
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.
For more information on these topics, visit diplomacy.edu.
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.
For more information on these topics, visit diplomacy.edu.
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.
For more information on these topics, visit diplomacy.edu.
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.
For more information on these topics, visit diplomacy.edu.
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.
For more information on these topics, visit diplomacy.edu.
