Core Insights - Japan's Financial Services Agency (FSA) is proposing new registration rules for crypto custodians and trading service providers to enhance oversight of the digital asset infrastructure [1][4][9] Regulatory Changes - A working group under the Financial System Council met to discuss the proposal, which mandates that all third-party custody and trading management firms register with regulators before offering services to crypto exchanges [3][4] - Exchanges will be required to use systems developed only by registered entities, addressing the current lack of similar regulations for external service providers [4][5] Security Concerns - The current framework requires crypto exchanges to safeguard deposits, but external service providers are not subject to the same rules, creating security vulnerabilities [5][9] - The urgency for these changes was highlighted by the DMM Bitcoin hack in 2024, where 48.2 billion yen ($312 million) worth of Bitcoin was stolen, exposing weaknesses in outsourced service oversight [5][6] Support for New Regulations - Most members of the working group support the new registration system, emphasizing the need for clearer regulations in the growing crypto ecosystem [6] - The FSA plans to compile a formal report and submit proposed amendments to the Financial Instruments and Exchange Act during the 2026 ordinary Diet session [6] Broader Digital Finance Agenda - The initiative aligns with Japan's efforts to balance innovation and investor protection, as evidenced by the recent approval of the first yen-backed stablecoin, JPYC, and a stablecoin pilot project involving Japan's three largest banks [7][8]

Australia’s securities regulator has declared stablecoins, wrapped tokens, tokenized securities, and digital asset wallets as financial products under existing law, requiring service providers to obtain licensing while granting the industry an eight-month transition period. The Australian Securities and Investments Commission (ASIC) announced updated guidance on Wednesday, alongside a sector-wide no-action position that runs until June 30, 2026. ASIC Commissioner Alan Kirkland said, “distributed ledger t ...

The sudden rise of Michael Selig from senior regulatory adviser to frontrunner for one of the most powerful roles in U.S. financial oversight marks a decisive moment in the political battle over the future of crypto in America. As President Donald Trump prepares to nominate Selig as the next chair of the Commodity Futures Trading Commission (CFTC), the appointment signals a sharp break from the enforcement-first era that defined U.S. crypto policy under the previous SEC leadership. EXPLORE: JP Morgan to A ...

In an interview with TheStreet Roundtable’s Jackson Hinkle, Ayanna Hull, head of BVI Private Wealth and Regulatory at Harneys, said that as the United States continues to refine its digital asset frameworks, agile jurisdictions such as Singapore and the British Virgin Islands (BVI) are demonstrating how clear, balanced regulation can attract innovation and investment. “We have a lot of clients that are moving to the BVI from Europe because MICA is just not working in terms of regulations, very onerous,” H ...

Core Insights - Binance has completed its acquisition of Gopax, marking its return to South Korea after over two years [1][2] - The approval from South Korea's Financial Intelligence Unit (FIU) signifies a crucial development for the country's digital asset sector [2][4] Acquisition Details - The acquisition process began in early 2023 and concluded after the FIU approved new executive appointments, ending a two-and-a-half-year regulatory stalemate [2] - Binance now holds a 67% stake in Gopax, making it one of the five registered crypto exchanges in South Korea [3] Regulatory Context - The approval came after the dismissal of US lawsuits against Binance and its founder, including a $4.3 billion anti-money laundering fine, indicating enhanced compliance efforts [4] - Binance will now operate under South Korea's strict Virtual Asset User Protection Act, which imposes rigorous standards for digital asset custody and anti-money laundering controls [3] Market Impact - The acquisition is expected to influence South Korea's digital finance landscape, potentially attracting other global players like Coinbase to seek Korean licenses [5] - Upbit and Bithumb currently dominate the South Korean cryptocurrency exchange market, holding 63% and 32% of trading volume respectively, accounting for 95% of the total crypto trading activity in the country [5] - Gopax's trading volume is currently minor, but the focus is on how much market share Binance will capture in a market known for high retail trading volume [6]

Core Insights - BitGo MENA FZE has obtained a Broker-Dealer license from the Dubai Virtual Assets Regulatory Authority (VARA) [1] - This license allows BitGo MENA to offer regulated digital asset trading and intermediation services to institutional clients in the region [1] - The approval supports BitGo's ongoing global expansion efforts [1]

Core Insights - The UK Financial Conduct Authority (FCA) has lifted its ban on crypto exchange-traded products (ETPs) for retail investors, effective October 2, but delays in prospectus approvals will postpone access to Bitcoin and Ethereum-linked products for nearly a week [1][3] - The FCA's review process has accelerated, with approval times reduced by two-thirds since April, although the number of applications has dropped significantly [4][5] Regulatory Developments - The FCA began accepting prospectuses on September 25, just two weeks before the expected launch date, leading to frustration among industry executives due to inadequate preparation time [1] - The review of each company's prospectus may take several days, and further comments could delay launches until at least October 13 [2] - The FCA is consulting on applying the same regulatory standards to crypto firms as to traditional financial institutions, with a full regulatory framework expected to launch in 2026 [6][7] Market Dynamics - This marks the first time UK retail investors can access regulated crypto products since the FCA's 2021 ban on crypto derivatives and ETPs [3] - The number of applications dropped from 46 in the year to April 2023 to 26 in the year to April 2025, indicating a potential wait for the FCA's full regulatory framework [5] - The FCA has introduced pre-approval meetings and roundtables to clarify expectations around registration processes [5] International Cooperation - The UK and U.S. have announced the creation of the Transatlantic Taskforce for Markets of the Future to strengthen cooperation on digital asset regulation and capital markets [8]

Core Viewpoint - Australia is proposing draft legislation to regulate digital asset platforms, aiming to enhance consumer protections and provide clarity for the industry [1][2]. Regulatory Framework - The proposed bill is described as the "cornerstone" of the government's digital asset roadmap, aligning Australia with international standards [2]. - It introduces two new financial products under the Corporations Act: Digital Asset Platforms and Tokenized Custody Platforms, subjecting them to the same licensing and consumer protection rules as traditional finance [2]. Licensing and Compliance - Operators of digital asset platforms will be required to obtain an Australian financial services license, manage conflicts of interest, provide dispute resolution systems, and meet minimum custody and settlement standards [2]. - Non-compliance could result in penalties of up to 10% of annual turnover, although small platforms with annual transactions below AUD 10 million (USD 6.6 million) and client transactions below AUD 5,000 (USD 3,300) will be exempt [3]. Addressing Consumer Safeguards - The legislation aims to address gaps in consumer safeguards highlighted by recent failures in the sector, particularly regarding the pooling and holding of client assets [3][4]. - It extends existing Australian financial services frameworks to cover the riskiest parts of digital asset businesses [4]. Adaptability of Regulations - The legislation allows regulators to adapt their obligations in response to technological changes, preventing rigid rules that could hinder new business development [5]. - The government is collaborating with the Australian Securities and Investments Commission on transitional arrangements before the reforms are implemented [5].

Regulatory Landscape - The US and UK have formed the "Transatlantic Taskforce for Markets of the Future" to focus on digital asset regulation [1] - The task force aims to develop recommendations to unlock opportunities for investors and businesses in both the US and UK [1]

Core Insights - Bullish, a leading digital asset infrastructure provider, has received regulatory approval from the New York State Department of Financial Services (NYDFS) [1] - This approval is a significant milestone for Bullish as it prepares to enter the United States market [1] Company Summary - The approval was announced on September 17, 2025, indicating Bullish's strategic move towards a full-scale entry into the U.S. market [1]