Crypto ownership in South Korea is rising rapidly, with 27% of people aged 20 to 50 now holding digital assets, according to new research by the Hana Institute of Finance. Among investors, 70% plan to grow their crypto holdings, with Bitcoin remaining the top choice.
Many now view digital assets as a serious tool for building wealth and planning for retirement. The report revealed that investment behaviour is becoming more structured.
Regular purchases jumped from 10% to 34%, while mid-term trading saw a similar rise. In contrast, short-term trading declined slightly. More investors also turn to official exchanges and data platforms, moving away from informal advice and word-of-mouth.
Economic hardship is driving the trend, particularly among younger Koreans. Youth unemployment remains high, and traditional investment options offer limited returns. Crypto has emerged as a perceived lifeline, with many viewing it as their best chance to gain financial stability or afford property.
While optimism about crypto’s growth remains strong, concerns persist. Market volatility still worries 56% of investors, and many say they would feel more confident if traditional banks were more involved.
Restrictions on linking multiple bank accounts with exchanges are also viewed as a barrier to greater adoption.
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The US Senate has passed the GENIUS Act, the first bill to establish a federal framework for regulating dollar-backed stablecoins. Passed with cross-party support in a 68–30 vote, the legislation marks a major win for the crypto industry, which has long sought clearer oversight.
The bill still requires approval from the House and a signature from President Trump. It would mandate that stablecoin issuers hold reserves in cash or US Treasuries, undergo audits, and disclose their holdings.
While it bans members of Congress and their families from profiting, the same restriction does not apply to Trump and his family — a point of contention among Democrats.
Circle and other crypto firms welcomed the move. Meanwhile, major players like Bank of America, Amazon, and Walmart are exploring their stablecoin offerings. Trump has also backed a new coin, USD1, through his startup World Liberty Financial.
If the legislation becomes law, it could transform payments by encouraging new issuers, reducing reliance on traditional card networks, and expanding global access to digital dollars. US Treasury Secretary Scott Bessent believes the market could surpass $2 trillion by 2028.
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Paul Atkins, a US Securities and Exchange Commission commissioner, has publicly backed the right to self-custody digital assets. Describing it as a core value, Atkins stressed that individual control over one’s money aligns with foundational principles of freedom and property rights.
Self-custody allows crypto holders to store their private keys independently, without relying on exchanges or custodians. The practice gained traction after centralised platforms such as FTX collapsed in 2022, causing billions in losses.
Tools like Ledger, Trezor, and MetaMask have made it easier for everyday users to manage their keys securely.
Support for self-custody is growing among regulators and the wider crypto community. With more than 30 million Americans now owning cryptocurrency, Atkins’ endorsement reflects a broader trend towards individual responsibility and decentralised finance.
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Deutsche Bank is deepening its involvement in digital assets, with plans under review to issue its own stablecoin or join an industry-wide initiative. The bank is evaluating tokenised deposits to help modernise payments, said Sabih Behzad.
Stablecoins and tokenised deposits are becoming more attractive as banks search for faster and more cost-efficient payment methods. Regulatory progress in the EU and US is boosting banks’ confidence to enter the space.
Banco Santander and JPMorgan are also expanding their digital payment efforts, signalling growing momentum in the sector.
Deutsche Bank has already taken several steps in the crypto space. The bank invested in Partior, partnered with Taurus for custody services, and joined Project Agorá to explore cross-border tokenisation.
Market forecasts point to rapid growth. Citigroup expects the stablecoin market to rise from nearly $240 billion today to more than $2 trillion by 2030, fuelled by regulatory clarity and rising adoption by both private and public sectors.
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New SEC Chairman Paul Atkins has committed to creating a clear regulatory framework for the crypto sector. He aims to replace ambiguity with investor protection and support for innovation.
Speaking before the Senate Appropriations Subcommittee on 3 June, he said outdated and unclear rules have held the industry back.
Atkins stressed that his approach would end the former administration’s ‘regulation-by-enforcement’ model. He plans to use structured rulemaking, with notice-and-comment procedures guiding the creation of clear, tailored regulations for the crypto market.
He also reaffirmed support for the recently launched Crypto Task Force. Atkins praised the leadership of Commissioners Uyeda and Hester Peirce, often referred to as ‘crypto mom’, adding that the SEC’s divisions would act swiftly to provide regulatory certainty.
Appointed under the Trump administration’s crypto-friendly agenda, Atkins’ policy direction signals a significant shift. It embraces digital asset innovation while ensuring strong investor safeguards.
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California’s State Assembly has unanimously approved a bill that would allow government departments to accept cryptocurrency payments. Assembly Bill 1180, introduced by Avelino Valencia, passed with a 68–0 vote and will now be reviewed by the State Senate.
If enacted, the law would require the Department of Financial Protection and Innovation to establish regulations enabling crypto payments for state services. A pilot programme would run until 1 January 2031, with full implementation beginning on 1 July 2026.
The department would also be required to report on transaction volumes and any technical challenges by 2028.
The bill targets digital assets under existing law, after dropping transport-related clauses, aiming to align California with states like Florida and Colorado on crypto payments.
AB 1180 complements a separate proposal, AB 1052, which seeks to protect the private use of digital assets and enshrine the right to self-custody. The rising interest in such legislation reflects growing political and public support for cryptocurrencies across the state.
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Ripple has urged US regulators to define when a digital asset should no longer be considered a security. In a new letter to the SEC’s Crypto Task Force, the firm responded to questions raised by Commissioner Hester Peirce on asset classification.
The move seeks greater clarity for market participants amid increasing regulatory scrutiny.
The company referenced its 2023 legal victory, where a court ruled XRP was not inherently a security. Ripple also cited a 2022 legal paper. The paper claims most fungible tokens on secondary markets lack ongoing obligations between buyers and issuers.
It proposed a two-part test to determine when a token becomes independent from its original investment contract.
Ripple says a crypto asset stays a security only if promises remain and holders have enforceable rights. It warned against vague standards like ‘sufficient decentralisation,’ backing clearer criteria such as trading history and absence of centralised control.
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Hong Kong’s legislature has approved a bill introducing a licensing framework for fiat-referenced stablecoin issuers. The move provides legal clarity and aims to enhance the city’s position as a global digital asset hub.
Any issuer of stablecoins in Hong Kong or of HKD-backed stablecoins abroad must obtain a licence from the Hong Kong Monetary Authority. The law outlines standards for reserve asset management, redemption, and risk controls to protect investors and the wider public.
Officials say the legislation follows the principle of ‘same activity, same risks, same regulation’ and adopts a risk-based approach. Financial Secretary Christopher Hui stated that the measure sets a solid foundation for Hong Kong’s growing virtual asset market.
The HKMA’s sandbox programme for stablecoin issuers has already attracted three participants. The new ordinance is expected to take effect later this year.
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Pakistan has formed a new body to regulate its growing digital asset market and embrace blockchain-based financial innovation. The Pakistan Digital Assets Authority (PDAA), backed by the Ministry of Finance, will license and oversee exchanges, custodians, wallets, stablecoins, and decentralised finance platforms.
Federal finance minister Muhammad Aurangzeb said the goal is not only to catch up but to lead the sector globally. PDAA will also tokenise national assets and government debt, and monetise excess electricity through regulated Bitcoin mining.
The authority aims to create a safe and investment-friendly ecosystem for blockchain startups and Web3 development.
The move follows advice from the Pakistan Crypto Council, which includes former Binance CEO Changpeng Zhao. Council CEO Bilal Bin Saqib described the strategy as a complete rewrite of Pakistan’s financial future, with a focus on financial inclusion, digital exports, and innovation.
Pakistan‘s stance on crypto has shifted rapidly. Although the government had ruled out legalising digital assets in 2023, the country ranked ninth in Chainalysis’ 2024 crypto adoption index.
With over 27 million users expected by 2025 and projected revenue of $1.6 billion, Pakistan’s digital asset sector is now seen as a key growth driver.
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Russia’s Ministry of Justice is working on legislation that would classify crypto assets as property, enabling their confiscation during criminal investigations. The draft bill aims to tighten control over digital currencies increasingly used for illegal activities.
Deputy Justice Minister Vadim Fedorov stated that the new law would allow authorities to seize not only physical wallets but also credentials like seed phrases. Experts will assist in managing the secure handling of digital assets.
Courts may also be given the power to block transactions linked to certain wallets.
The move comes in response to a rise in crypto-related crime, particularly through darknet markets. One such platform, Kraken, has recorded a 68% surge in crypto transactions since the shutdown of Hydra in 2022.
Fedorov highlighted the challenges posed by digital currencies, citing their anonymity and lack of central control as major attractions for criminals.
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