India is re-evaluating its cryptocurrency stance as global attitudes towards digital assets shift. Economic Affairs Secretary Ajay Seth stated that the government is reviewing its discussion paper on cryptocurrency, originally set for release in September 2024, to reflect changing international regulations. The move follows recent policy adjustments in multiple jurisdictions, prompting India to reassess its approach.
Despite strict regulations, including a 30% capital gains tax and a 1% transaction levy, crypto adoption in India continues to grow. Authorities maintain strong regulatory control, with the Financial Intelligence Unit taking action against non-compliant exchanges. Meanwhile, the Reserve Bank of India remains cautious, while market regulators propose a multi-agency approach to oversight, signalling a possible shift in policy.
India’s complex relationship with cryptocurrency dates back to 2013, when the RBI first issued warnings. In 2018, a banking ban crippled the industry, only to be overturned by the Supreme Court in 2020. While the government supports blockchain and central bank digital currencies, the fate of private cryptocurrencies remains uncertain. As global regulations evolve, India’s next steps could have far-reaching consequences for the crypto sector.
The digital asset market continues to grow, with a shift towards softer regulation following increased mainstream adoption. Key developments include the UK’s pilot programme for digital gilts and a surge in exchange-traded funds launched by global asset managers. As the momentum builds, there’s a growing demand for a more complex financial ecosystem to support the evolving use cases of digital assets, driving opportunities for jurisdictions that can meet these needs.
However, as with any fast-growing industry, risk mitigation remains crucial. International financial centres are responding with a cautious, risk-based approach, while global cooperation is vital to prevent bad actors and protect reputations. Examples include the British Virgin Islands (BVI), which has created a strong regulatory framework for digital assets, attracting numerous businesses and regulatory innovation.
Global collaboration has also been crucial, with initiatives like the Financial Action Task Force’s standards on virtual asset service providers (VASPs) aimed at combating money laundering and terrorist financing. This is complemented by efforts from Europe’s MiCA regulation, which sets a strong precedent for other regions, including the Caribbean, to follow.
As technological advancements continue to enhance compliance and financial crime prevention, ongoing education and cross-jurisdictional collaboration will be key in ensuring the region maintains its position as a secure and attractive hub for digital asset businesses. The Caribbean, in particular, stands to benefit from embracing these innovations, provided it upholds high standards of financial integrity and transparency.
The Czech National Bank (CNB) has revealed plans to assess the possibility of adding Bitcoin (BTC) to its reserve assets, despite opposition from European Central Bank (ECB) President Christine Lagarde. The decision follows a review of its 2024 reserve management strategy, where the CNB highlighted ongoing efforts to diversify its investments. While no immediate changes will be made, the central bank intends to conduct a thorough review before making any decisions.
Reports suggest the CNB could allocate up to 5% of its reserves to Bitcoin, amounting to over $7 billion. Governor Aleš Michl has expressed interest in Bitcoin as a potential diversification tool, calling it a “very interesting” asset. However, the ECB remains strongly opposed, with Lagarde insisting that central bank reserves must remain liquid and secure, free from concerns over money laundering or criminal activity.
The CNB’s exploration of Bitcoin aligns with a broader global trend of national reserves incorporating digital assets. In the US, former President Donald Trump recently signed an executive order allowing a crypto working group to study the potential for a national Bitcoin stockpile. With growing interest among G20 nations, the debate over Bitcoin’s role in central banking is far from over.
Donald Trump’s media company has launched Truth.Fi, a financial services platform aimed at cryptocurrency investments. The initiative, backed by Trump Media & Technology Group, will allocate up to $250 million from its $700 million cash reserves to assets like Bitcoin, crypto-related securities, and ETFs.
This move follows a trademark application last year and reports that Trump Media considered acquiring Bakkt, a licenced crypto service provider. Trump has also voiced support for World Liberty Financial, a decentralised finance protocol. Through his company, which operates Truth Social and various crypto assets, he has become the first US president with direct ties to the industry.
Crypto supporters see this as a potential boost for regulatory acceptance, while critics like Senator Elizabeth Warren have raised concerns over his crypto-linked associates. As Trump deepens his involvement in digital assets, the industry watches closely for signs of shifting policies in Washington.
Kazakhstan is moving to expand its legal crypto operations as President Kassym-Jomart Tokayev calls for urgent reforms. He stressed the need to improve the country’s infrastructure for digital assets, pointing out that most crypto users still operate in a legal grey area. Only around 5% of investors use regulated platforms, while the rest rely on unregistered services.
To address this, Tokayev urged financial regulators to develop a stronger legal framework. Authorities have already intensified their crackdown on illegal platforms, shutting down 36 unlicensed exchanges in 2024 with a total turnover of 60 billion tenge ($112.84 million). Officials have also blocked over 3,500 unregistered trading sites in coordination with the National Security Committee.
With these efforts, Kazakhstan aims to transition from a grey-market hub to a regulated crypto-friendly nation. As global attitudes towards digital assets shift, the country is positioning itself as a key player in the evolving crypto landscape.
Coinbase has received regulatory approval to operate in Argentina, securing a Virtual Asset Service Provider licence from the National Securities Commission. The approval allows the exchange to offer its services within Argentina’s virtual asset framework, marking a significant step in its global expansion.
With inflation soaring and the local currency struggling, cryptocurrency adoption has surged in Argentina. Around 5 million Argentinians use crypto daily, viewing it as a tool to protect their wealth and access global financial markets. A recent Coinbase survey found that 87% of locals see digital assets as a way to enhance economic independence.
Coinbase’s operations in Argentina will be led by fintech expert Matías Alberti. The company plans to combine trading services with educational initiatives to help users navigate the risks and benefits of crypto. The company has highlighted security and compliance as key priorities, aiming to build trust in a market where financial stability remains a major concern.
US President Donald Trump recently unveiled the $500 billion Stargate project, a groundbreaking AI infrastructure initiative that has captured market attention. Collaborating with OpenAI, SoftBank, Oracle, and MGX, the project is based in the US and has already secured $100 billion in initial funding. Industry experts suggest this move could significantly influence the AI and cryptocurrency markets.
Dr Max Li, CEO of decentralised cloud platform OORT, highlighted the impact Stargate could have on AI tokens. He noted the strong connection between AI advancements and digital assets, predicting a surge in AI projects and token launches. Li warned that while many projects may emerge, only those with genuine utility and business value would endure.
The announcement triggered immediate market reactions, with AI tokens such as ai16z and Worldcoin seeing notable price increases. The rising interest in the convergence of artificial intelligence and decentralised finance (DeFi) suggests that the Stargate initiative could accelerate innovation in both sectors.
As AI continues to intersect with blockchain, the Stargate project positions the US at the forefront of these technological advancements, paving the way for further growth in AI-driven digital assets.
Crypto.com has expanded its services by launching a new platform aimed at institutional investors in the United States. Announced on 21 January, the platform offers advanced trading solutions designed to strengthen the company’s presence in the US market. It complements the existing Crypto.com App, which focuses on retail traders, and offers access to over 300 cryptocurrencies, 480 trading pairs, and features such as advanced order types and automated trading tools.
The platform is tailored to support high-frequency and large-volume trading, with tools like trading bots and sub-account options for active traders. It also allows users to fund accounts via Fedwire transfers and supports low-latency trading and OTC services. Crypto.com’s push into the institutional market follows the ongoing regulatory shifts under the Trump administration, which have brought greater clarity to the cryptocurrency sector.
In addition to this new platform, Crypto.com has recently expanded its US operations by launching the Crypto.com Custody Trust Company and introducing stock and ETF trading for select users. Following meetings between CEO Kris Marszalek and President Trump, the company also withdrew its lawsuit against the SEC. The SEC has since established a crypto task force to develop a clearer regulatory framework for digital assets.
The X account of Cuba’s Ministry of Foreign Affairs has been locked following allegations of promoting and profiting from several Solana-based meme coins. The controversy began when the account appeared to promote a token called ‘CUBA,’ sparking speculation about potential government involvement in the recent meme coin frenzy.
The CUBA token reportedly surged to a $30 million market cap before collapsing, with additional tokens like “Cuba Coin 2.0” and ‘Justice for Cuba Coin’ failing within a day. Screenshots also surfaced of another token, “CUBA 4.0,” further raising questions about hacking or misuse of the account. Whilst the Ministry’s X account briefly addressed “difficulties” before being deleted, no official statement has been issued.
Adding to the confusion, an X Space titled ‘Sorry from $CUBA,’ hosted by the account, included an apology from a person claiming to represent the Cuban government. The host initially denied wrongdoing but later made an erratic statement about a “million MC” before the Space was removed.
As the Ministry’s X account remains disabled and no clarification has been provided, the situation continues to fuel debate over the Cuban government’s potential connection to the meme coin drama.
According to its National Bitcoin Office, El Salvador has added $1 million worth of Bitcoin to its Strategic Bitcoin Reserve, purchasing 12 BTC over two days. This acquisition comes despite a recent agreement with the International Monetary Fund (IMF) to scale back some of its crypto policies, including reducing government involvement in the Chivo wallet and making private-sector Bitcoin acceptance voluntary.
The latest purchase increases the country’s Bitcoin holdings to 6,044 BTC, valued at nearly $610 million. El Salvador’s Bitcoin investments remain consistent with President Nayib Bukele’s vision, even as a recent survey indicated that 92% of Salvadorans do not use Bitcoin for transactions.
El Salvador’s commitment to Bitcoin began in September 2021 when it became the first nation to adopt the cryptocurrency as legal tender. While other countries like Bhutan are investing heavily in digital assets, El Salvador’s bold moves continue to draw global attention and spark debate over its long-term crypto strategy.
