Federal Reserve Governor Christopher Waller has called for a regulatory framework allowing both banks and non-banks to issue stablecoins. Speaking at a conference in San Francisco, he stressed that a well-defined approach is essential for stablecoins to reach their full potential and expand the global influence of the US dollar.
Waller highlighted the need for regulations that directly and fully address stablecoin risks, ensuring they can be integrated into the financial system. His views align with those of Fed Chair Jerome Powell, who previously voiced strong support for developing a stablecoin framework in the US.
Efforts to regulate stablecoins are gaining momentum in Congress, with both Republican and Democratic lawmakers proposing oversight measures. Recent bills from Rep. Maxine Waters and Rep. French Hill take different approaches to stablecoin supervision, reflecting an ongoing debate over whether the Federal Reserve or the Office of the Comptroller of the Currency should take the lead.
As stablecoins continue to grow in importance, clear regulations could shape their role in the broader financial system. With policymakers actively working on proposals, the future of stablecoin oversight remains a key issue in Washington.
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A New York senator has introduced a bill to create a task force dedicated to studying the impact of cryptocurrencies in the state. The proposed legislation, known as the New York State Cryptocurrency and Blockchain Study Act, aims to assess how digital currencies affect tax revenues, energy consumption, and regulatory policies.
If approved, the task force will consist of 17 members and will analyse key aspects of the crypto industry, including the number of digital currencies traded, the exchanges operating in New York, and how the state’s regulations compare to other jurisdictions. The group will also evaluate the environmental impact of cryptocurrency mining and recommend measures to enhance transparency and consumer protection.
The bill is still in its early stages and must pass committee review before moving to a full vote. New York has long been a major hub for crypto, but its strict BitLicense requirements have faced criticism for being too restrictive. As more US states explore crypto regulations, the outcome of this bill could shape the future of digital assets in New York.
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A Chicago family and their nanny were kidnapped for five days in October by armed men demanding a ransom in cryptocurrency. The kidnappers stole $15 million in digital assets, including Bitcoin and Ether, and forced the victims to transfer funds from their crypto accounts before releasing them.
The incident began when one of the suspects pretended to be at the door to fix a damaged garage, only to overpower the family with a gun. The victims were then transported to an Airbnb and later to another location, where they were threatened with death unless they complied with the kidnappers’ demands.
FBI agents were able to track the suspects using surveillance footage and forensic evidence. The investigation led to six arrests, with one suspect, Zehuan Wei, apprehended while trying to re-enter the US in January. The remaining suspects are believed to have fled to China.
This case highlights the growing trend of crypto-related kidnappings, as criminals target individuals with access to digital currencies. Recently, other high-profile kidnappings for cryptocurrency ransom have also made headlines, including the abduction of a Ledger co-founder and a Toronto CEO.
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Toyota Financial Services is set to issue its first blockchain-powered security token bonds next month, marking a significant step in the company’s embrace of blockchain technology. The offering will be a 1 billion yen ($6.6 million) unsecured bond, with Daiwa Securities and Mitsubishi UFJ Bank collaborating on the project.
The token will be launched on the Progmat platform, operated by Mitsubishi UFJ. Toyota aims to strengthen its ties with individual investors by offering special benefits for token holders who also use the Toyota Wallet app. Those investing over 1 million yen will receive bonus credits in the app, adding an extra incentive.
Sales for the token will run from 20 February to 27 February, with the bond maturing on 3 March 2025. This offering is part of a broader push by Japanese companies to explore security tokens, as the government supports blockchain innovation.
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MicroCloud Hologram, a Nasdaq-listed technology company, has announced plans to invest up to $200 million in Bitcoin and other digital assets. The move is driven by the firm’s bullish outlook on cryptocurrency, as it sees blockchain, artificial intelligence, and quantum computing as key to future innovation. The company aims to diversify its capital reserves while positioning itself for growth in the expanding digital economy.
With cash reserves of around $257 million, MicroCloud Hologram follows the lead of companies like Strategy and Metaplanet, which have heavily invested in Bitcoin. The firm is particularly interested in assets with strong market impact and growth potential, signalling confidence in the long-term value of crypto. The planned investment is also expected to support the company’s broader capital strategy and expansion into blockchain technologies.
Bitcoin’s surge in 2024, reaching an all-time high above $109,000, has sparked increased interest from institutional investors. The growing demand for spot Bitcoin ETFs and favourable regulatory developments have fuelled optimism, reinforcing predictions of further convergence between AI and crypto. MicroCloud Hologram’s latest move highlights the accelerating adoption of digital assets in mainstream finance.
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Swedish payments giant Klarna is considering integrating cryptocurrency into its services, marking a potential shift in its approach to digital assets. CEO Sebastian Siemiatkowski recently hinted at the company’s interest, asking his followers for ideas on how Klarna could embrace crypto. It comes as the firm prepares for a US initial public offering later this year, a move that could expand its influence in global financial markets.
Siemiatkowski acknowledged that Klarna is trailing behind competitors like PayPal and Revolut, both of which have already introduced a variety of crypto services. Industry leaders, including Circle CEO Jamie Allaire and Immutable’s Robbie Ferguson, have pitched ideas, suggesting stablecoin integration and crypto-friendly payment solutions. Klarna, which processes around $100 billion in transactions annually, could leverage its vast user base to bring digital assets into mainstream finance.
The CEO’s newfound enthusiasm for crypto contrasts with his earlier scepticism. In 2022, he dismissed Bitcoin as a “decentralised Ponzi scheme” and criticised high transaction fees. However, recent trends, including the rise of stablecoins and blockchain-based payments, seem to have reshaped his perspective. As Klarna moves towards its IPO, its evolving stance on digital assets could position it as a major player in the fintech-crypto convergence.
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North Carolina lawmakers have introduced a bill that would allow the state treasurer to invest up to 10% of state funds in Bitcoin and other qualifying digital assets. The proposed legislation sets strict criteria, requiring any eligible cryptocurrency to have a market capitalisation of at least $750 billion over the past year. Currently, only Bitcoin meets this threshold. Investments would be made through regulated exchange-traded products, ensuring compliance with financial safeguards.
The bill outlines that funds from the General Fund, Highway Fund, and 24 other special state funds could be allocated to Bitcoin. Oversight would be provided by the Governor and the Council of State, while third-party investment managers handling digital assets must manage at least $100 million in assets. The move aligns North Carolina with other states exploring Bitcoin as a financial hedge and long-term store of value.
With this proposal, North Carolina becomes the 20th US state to introduce Bitcoin reserve legislation. Recent bills in Montana, Florida, Maryland, Iowa, and Kentucky signal a growing trend of state governments integrating digital assets into financial strategies. These efforts reflect increasing confidence in Bitcoin as a hedge against inflation and a valuable reserve asset for public funds.
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Japan’s Financial Services Agency is moving to ease restrictions on cryptocurrency investments, signalling a major shift in regulatory policy. The agency is preparing to lift the existing ban on crypto exchange-traded funds (ETFs), bringing Japan in line with markets like the United States and Hong Kong. In addition, cryptocurrencies may soon be treated similarly to traditional securities, paving the way for wider institutional adoption.
The regulator is also considering significant tax cuts, potentially lowering the maximum rate from 55% to 20%. Meanwhile, efforts are underway to strengthen investor protections by requiring virtual asset firms to provide greater transparency. A closed-door study session with market experts will assess whether Japan’s existing regulatory framework can support these changes.
Despite the easing stance, Japan’s financial authorities remain cautious, enforcing strict compliance measures to clamp down on unlicensed crypto operations. Recently, the FSA ordered Google and Apple to remove unregistered exchanges from their platforms. As Japan adapts to the global shift towards Bitcoin, its evolving policies could reshape the country’s crypto landscape in the coming years.
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Hong Kong has officially recognised cryptocurrency as proof of assets for investment immigration, approving two cases where applicants used Bitcoin and Ethereum to meet the HK$30 million requirement. The latest approval, confirmed on 7 February, marks a significant step in integrating digital assets into the region’s financial and immigration policies.
The first case occurred in October 2024, when a Bitcoin holder successfully proved their wealth for residency. An Ethereum holder has followed suit, with both applicants coming from mainland China. Reports indicate that Invest Hong Kong, the government agency overseeing investment immigration, took a month to review the first case before approving it.
Despite this recognition, it remains uncertain whether direct cryptocurrency investments or crypto ETFs will count towards the required HK$30 million investment within six months of approval. Officials have specified that applicants must store their digital assets securely in cold wallets or on major exchanges such as Binance. With two more applicants under review, Hong Kong appears to be paving the way for broader crypto acceptance in its financial landscape.
Russia’s telecoms watchdog, Roskomnadzor, has blocked access to BestChange, one of the largest crypto over-the-counter aggregators in Eastern Europe. While the regulator has not provided an official reason, the platform has been added to the list of banned websites. BestChange’s legal team is already working to restore access, though no details on the ban’s cause have been disclosed.
It is not the first time BestChange has faced restrictions. It was first blocked in 2017 when a court in St Petersburg ruled that Bitcoin was a monetary surrogate, making enforcement difficult due to the blockchain’s irreversible transactions. Although that ban was lifted in 2018, Roskomnadzor imposed restrictions again in 2019, only to remove them months later.
The latest ban follows Russia’s recent law restricting crypto mining and digital asset advertisements. Under these new rules, advertisements for exchanges, mining, smart contracts, and wallet-tracking services are prohibited. Major platforms such as Yandex have already adjusted their policies, tightening restrictions on crypto-related promotions.
