Cryptocurrency Regulations

1 in Finance and 1 in Crypto last week

Alabama Senator Warns of GENIUS Act Rural Bank Risk

Alabama State Senator Keith Kelley is raising concerns about the GENIUS Act, a federal stablecoin bill signed into law in July. He warns that a loophole could incentivize fund withdrawals from small community banks, particularly impacting rural economies. The senator’s op-ed highlights potential risks for local financial institutions.

  • Senator Keith Kelley identifies a loophole in the GENIUS Act that could enable crypto platforms to incentivize fund withdrawals from community banks.
  • The concern focuses on the potential economic impact on rural areas, where small banks are vital to local financial health.
  • This warning follows similar apprehensions from banking groups, highlighting ongoing debates over stablecoin regulation and its unintended consequences.
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SEC, CFTC Joint Roundtable on Crypto Regulation Clarity

U.S. regulators are taking a major step toward clarifying rules for cryptocurrency markets. The SEC and CFTC will co-host a public roundtable on September 29 to address key regulatory challenges. This collaborative effort signals a unified approach to overseeing digital asset innovations.

  • Focus on regulatory clarity for DeFi protocols and perpetual contracts
  • First major joint public roundtable between SEC and CFTC on crypto
  • Live webcast availability for public access to regulatory discussions
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Belarus Moves to Regulate Crypto Market with New Rules

Eastern Europe ()

Belarusian President Aleksandr Lukashenko has directed lawmakers to establish transparent regulations for the country’s cryptocurrency market. The move aims to align Belarus with global digital asset trends and ensure comprehensive oversight. This initiative follows earlier instructions from the president to develop a national crypto framework.

  • President Lukashenko emphasizes the need for Belarus to keep up with global cryptocurrency trends
  • The directive follows 2023's Presidential Decree No. 80 calling for national crypto framework development
  • New regulations aim to create transparent rules for digital tokens and cryptocurrency operations in Belarus
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South Korea Proposes Legalizing ICOs with New Crypto Framework

Eastern Asia ()

A South Korean lawmaker has introduced groundbreaking legislation to legalize initial coin offerings and establish comprehensive crypto regulations. The bill aims to replace the country’s 2017 ICO ban with a disclosure-based regulatory framework. This move could significantly reshape South Korea’s digital asset landscape.

  • Proposes lifting South Korea's 2017 ban on initial coin offerings (ICOs)
  • Establishes nine distinct business categories for digital asset companies
  • Requires licenses for trading and brokerage firms, registration for other activities
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Japan Proposes Reclassifying Crypto as Securities Under FIEA

Japan’s Financial Services Agency has proposed reclassifying cryptocurrencies under the country’s securities law framework. The move aims to strengthen investor protections while preserving crypto’s payment functionality. This represents a significant shift in how digital assets are regulated in one of Asia’s largest markets.

  • Cryptocurrency exchanges would be required to provide detailed risk disclosures covering price volatility and reliability under the proposed framework
  • Japan's crypto market has grown to over 12 million exchange accounts with total deposits exceeding $33.7 billion, representing nearly 10% of the population
  • The regulatory proposal follows Finance Minister Kato's acknowledgment that crypto can become a legitimate option for diversified investment despite volatility risks
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Ukraine Could Recover $10B with Crypto Regulation

Ukraine could recover up to $10 billion in lost funds through stronger cryptocurrency regulation, according to a new RUSI report. The study warns that Russian actors are exploiting regulatory gaps to fund military procurement and launder money. Ukrainian lawmakers face a 2025 deadline to align with EU virtual asset standards.

  • Russian actors exploit Ukrainian regulatory gaps to fund military procurement and launder money through crypto networks
  • Money-mule networks drain $24 million monthly from Ukraine's budget, with criminals recruiting citizens for as little as $120 per operation
  • Ukraine must implement EU-aligned virtual asset regulations by late 2025 to avoid FATF downgrade and secure financial stability
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Pennsylvania Bill Bans Lawmakers from Crypto Trading

Pennsylvania Representative Ben Waxman has introduced legislation to prevent elected officials from trading cryptocurrencies in which they hold financial interests. The bill specifically targets potential conflicts of interest and corruption in crypto markets. This move comes as a direct response to concerns about federal-level crypto trading by politicians.

  • Prohibits Pennsylvania lawmakers and their families from crypto activities where they have financial interests
  • Directly references former President Trump's TRUMP memecoin as example of problematic behavior
  • Introduced with eight Democratic co-sponsors as response to perceived federal corruption
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Illegal Crypto Mining Costs Tajikistan $3.5M in H1 2025

Illegal cryptocurrency mining in Tajikistan caused $3.52 million in damages in the first half of 2025, primarily due to unauthorized electricity use. Authorities in Central Asia are cracking down on such operations, with Kazakhstan also reporting multi-million-dollar energy thefts linked to crypto mining.

  • Tajikistan has opened 190 criminal cases related to illegal electricity use for crypto mining, implicating nearly 4,000 individuals and totaling $4.26M in damages.
  • Kazakhstan's recent crackdown exposed a 50 MWh energy theft scheme worth $16.5M, with proceeds used to purchase real estate and vehicles now subject to confiscation.
  • Experts identify Central Asia's cheap energy, regulatory gaps, and proximity to China/Russia as key factors attracting illicit mining operations despite increasing enforcement efforts.
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US Crypto Policy Report Aims to Clarify SEC, CFTC Roles

The White House has released a long-awaited cryptocurrency policy report, proposing clearer divisions between the SEC and CFTC to address regulatory uncertainty. The recommendations aim to streamline oversight and bolster the US dollar’s dominance through stablecoins and tax laws.

  • The CFTC will oversee spot crypto markets, reducing jurisdictional conflicts with the SEC.
  • The report emphasizes stablecoins and crypto tax laws to reinforce the US dollar's global position.
  • The recommendations aim to resolve long-standing regulatory uncertainty for digital asset firms.
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SEC Approves Then Halts Bitwise Crypto ETF in Bizarre Move

The SEC initially approved Bitwise’s crypto ETF conversion but later issued a stay order, halting its launch. This marks the second such reversal this month, sparking criticism from analysts. The ETF was set to include top cryptocurrencies like Bitcoin and Ethereum.

  • SEC approved then halted Bitwise’s crypto ETF conversion under Rule 431, mirroring its earlier block on Grayscale’s ETF.
  • The BITW ETF includes 10 major cryptocurrencies like Bitcoin, Ethereum, and Solana but remains OTC due to the stay.
  • Analysts speculate the SEC’s reversals may be tied to internal politics or pending 2025 listing standards.
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