digital assets

Ljubljana is named the world’s most crypto-friendly city

Ljubljana has been named the world’s most crypto-friendly city in the 2025 Crypto Cities Index by Multipolitan. It surpassed major financial hubs like Hong Kong, Zurich, and Singapore.

The Slovenian capital’s success lies in its strong infrastructure, forward-thinking regulations, and real-world crypto adoption. With over 150 crypto ATMs and widespread retail acceptance, the city has built a thriving environment for everyday digital asset use.

Beyond retail usage, Ljubljana benefits from a unified crypto ecosystem supported by local organisations such as the Blockchain Alliance Europe.

Homegrown platforms like Blocksquare are making global strides, including a $1 billion tokenisation partnership with Vera Capital.

These developments highlight how a smaller city can outperform global contenders with cohesive, innovative strategies.

Hong Kong and Zurich tied for second place, respectively, and were praised for their regulatory clarity and financial stability. Meanwhile, Singapore and Abu Dhabi completed the top five, driven by favourable tax policies and efforts to attract blockchain firms.

In addition, Slovenia topped the Crypto Wealth Concentration Index, with the average crypto holder owning around $240,500 in digital assets, far ahead of the UK and US.

However, Slovenia’s proposed 25% tax on personal crypto profits, set to take effect in 2026, has sparked debate. While the government projects up to €25 million in annual revenue, critics warn that the tax could deter innovation and drive talent abroad.

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US lawmaker aims to end Puerto Rico’s crypto tax haven status

New York MP Nydia Velázquez introduced the Fair Taxation of Digital Assets in Puerto Rico Act. The bill aims to require crypto investors in Puerto Rico to pay both local and federal taxes on capital gains.

Bill seeks to amend Puerto Rico’s tax laws, making income from digital assets subject to federal taxation.

Velázquez criticised the tax incentives for crypto investors. She claimed they have driven up housing costs, displaced residents, and strained the island’s economy, which has a poverty rate of nearly 40%.

Puerto Rico has been a tax haven since 2012, attracting investors, but this has cost the US government billions in lost tax revenue.

Puerto Rico’s Governor Jenniffer González-Colón proposed extending Act 60 until 2055, but with a 4% capital gains tax, far lower than the typical US rate.

It’s unclear if Velázquez’s bill will gain enough support, as both the House and Senate are expected to review crypto-related proposals soon.

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Slovenia’s crypto-friendly status faces test with new tax proposal

Slovenia’s Finance Ministry has proposed a 25% tax on crypto trading profits, aiming to bring digital assets in line with other investments. The draft law, unveiled on 17 April, targets residents who convert crypto into fiat or use it for purchases.

Crypto-to-crypto trades and transfers between self-owned wallets would remain untaxed under the proposed rules.

Finance Minister Klemen Boštjančič defended the move, describing it as a step towards fairness rather than a revenue-generating effort. He emphasised that speculative instruments like cryptocurrencies should not be excluded from taxation.

Taxpayers would be required to report transactions annually, with profits calculated by subtracting purchase costs from sale values.

Critics argue the plan could harm Slovenia’s crypto-friendly image. Opposition MP Jernej Vrtovec warned that the tax may drive innovation and young talent abroad.

If adopted, the law will take effect from 1 January 2026. Slovenia already taxes mining and staking income, while hobbyist use remains exempt.

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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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Study finds 55 million US adults now use cryptocurrency

A new study by the National Cryptocurrency Association (NCA) has revealed that 55 million US adults, or 21% of the population, now use cryptocurrency. The survey highlights how digital assets are being adopted across different age groups, income levels, and industries.

Ownership remains highest among younger adults, with 67% of holders under 45. The study also found significant adoption among older Americans, with 15% of users over 55.

Women now represent 31% of all crypto holders. The adoption is notably strong in the construction sector (12%), surpassing financial services (7%).

Beyond investment, many users see cryptocurrency as a tool for learning, personal growth, and innovation. Forty-five percent value its role in education. The same percentage enjoys the excitement of being part of an emerging industry.

Nearly 40% use crypto for purchases, and 9% transact with it daily. Meanwhile, 81% want to expand their knowledge, particularly regarding security, regulation, and blockchain technology.

Regulation remains a key concern, with 64% supporting government oversight but 67% fearing it could hinder innovation.

Many users also see crypto’s broader societal benefits, with 45% citing its role in financial inclusion and digital transaction efficiency. Additionally, 33% recognise its potential to enhance global cooperation.

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UK trade bodies urge government action on crypto and blockchain policies

A group of six UK trade bodies has called on Prime Minister Keir Starmer’s government to take action on blockchain and crypto policy.

In a letter to Varun Chandra, Starmer’s business and investment adviser, the group made a call for government action. They urged the appointment of a special envoy and the creation of a national strategy to boost digital asset innovation.

The coalition includes leading industry groups like the UK Cryptoasset Business Council and Global Digital Finance. They believe that such measures could unlock job growth and establish the UK as a global leader in the sector.

The letter also pointed to the recent momentum in the US, where President Donald Trump appointed a crypto czar to lead policy on blockchain. The coalition believes that Britain can mirror this success, especially with its growing tech partnership with the US.

The trade bodies estimate that blockchain and digital assets could contribute £57 billion to the UK economy over the next decade. Globally, the sector is expected to add £1.39 trillion to GDP by 2030.

With digital assets becoming central to global finance, the UK’s actions now may determine its future as a competitive crypto hub.

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Gazprom launches digital financial assets worth 2 billion rubles

Gazprom, the majority state-owned Russian energy giant, has entered the growing market of digital financial assets (DFAs). The launch includes blockchain-powered DFAs, worth 2 billion rubles (around $23.5 million).

The tokens, issued by Gazprombank via the Moscow Exchange’s DFA platform, offer an annual yield of 21%. There are 2 million tokens in circulation, each worth 1,000 rubles ($11.77). They will mature in May 2025, exchanging for a fiat sum of 1024.74 rubles ($12.06).

Interestingly, these DFAs are open to non-qualified investors, allowing retail buyers to trade them. It is a rare feature in the DFA market, as many tokens are restricted to corporate or professional investors.

Gazprom’s move highlights the growing interest in digital assets within Russia’s energy sector. It joins other Russian giants such as Rostelecom, which recently launched its own DFAs.

The expansion of Russia’s DFA market is evident, with Sberbank reporting a cumulative trading volume of 684 billion rubles ($8 billion) in February. Gazprom is also investing heavily in the crypto space, with a subsidiary focused on crypto mining.

The company is building a mining centre in Veliky Novgorod, planning to invest around $500 million by 2028.

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California updates digital assets bill with new crypto protections

California has amended its money transmission bill to include significant protections for Bitcoin and crypto investors. The focus is on securing self-custody rights for the state’s 40 million residents.

Originally introduced as the Money Transmission Act, the bill has now been renamed ‘Digital Assets.’ It aims to ensure that digital assets are recognised as valid payment forms in private transactions.

The updated legislation guarantees Californians the right to self-custody their digital assets. It also prohibits public entities from restricting or taxing them based solely on their use as payment.

Additionally, it expands the state’s Political Reform Act to prevent public officials from engaging in digital asset transactions that could create conflicts of interest.

California’s bill positions the state as a potential leader in setting national policy for digital assets. Dennis Porter, CEO of Satoshi Action Fund, suggested that if successful, similar legislation could spread across the US.

Currently, 99 merchants in California accept Bitcoin payments. Major crypto firms, such as Ripple Labs and Solana Labs, are also based in the state.

Meanwhile, a stablecoin-related bill has been introduced to provide clearer regulations on stablecoin collateral and security audits. The rise in Bitcoin-related legislation continues across the country, with 95 bills introduced in 35 states.

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Japan’s FSA aims to classify crypto as financial assets

Japan’s Financial Services Agency (FSA) is preparing to introduce a major regulatory shift by classifying cryptocurrencies as financial assets. The plan includes bringing digital assets under insider trading laws.

The changes will align cryptocurrencies with regulations for stocks and other traditional financial instruments. The FSA is currently working on amending the Financial Instruments and Exchange Act to implement these changes.

The proposed amendment may be submitted to the parliament of Japan as early as next year. It reflects a broader global trend of increasing regulatory oversight for digital assets.

The US Commodity Futures Trading Commission (CFTC) has taken similar steps. It recently announced that digital asset derivatives will be regulated like other financial products. The FDIC allows banks to engage in crypto transactions without prior approval if they manage risks effectively.

The Office of the Comptroller of the Currency (OCC) has issued guidance for banks on cryptocurrency integration. Institutions must implement appropriate risk management measures in their operations.

FDIC Acting Chairman Travis Hill called it a shift toward a more secure crypto environment. The developments highlight a growing global recognition of digital assets and the need for comprehensive regulatory frameworks.

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FDIC permits banks to engage in crypto without prior approval

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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