The UK’s Financial Conduct Authority has reduced the time it takes to approve crypto registration applications by 69% since 2023, although data from the regulator also show that there has been a 43.5% decline in applications over the past two years. The FCA has released the data following a freedom of information request from London-based international law firm Reed Smith, which sought clarification on the number of applications sent by cryptoasset service providers (such as exchanges) since the 22/23 fin ...

The Hong Kong Monetary Authority (HKMA) has circulated plans for easing the capital requirements for banks holding cryptocurrencies, local financial news outlet Caixin reported on Wednesday. The central bank released a draft paper for public comment with a view to clarifying the guidance on capital regulation for crypto assets, which will be implemented early next year. The drafted guidelines focus on lowering bank capital requirements if issuers can take appropriate measures to prevent and respond to ri ...

By Nikunj Ohri and Sarita Chaganti Singh NEW DELHI (Reuters) -India is leaning towards not creating legislation to regulate cryptocurrencies in the country and instead will maintain partial oversight, fearing that bringing the digital assets into its mainstream financial system could raise systemic risks, a government document shows. The document, seen by Reuters, cites the Reserve Bank of India's (RBI) view that, in practice, containing the risks of cryptocurrencies through regulation would be difficult ...

"I did not appreciate how Bitcoin would compete with fiat currencies to serve as the transactions medium of choice in the twenty-trillion dollar global underground economy."Bro still isn't paying attention.Bitcoin sustained 5 (!) TPS last month. Being used isn't the reason.Kenneth S Rogoff (@krogoff):Almost a decade ago I was the Harvard economist that said that bitcoin was more likely to be worth $100 than 100k. What did I miss? I was far too optimistic about the US coming to its senses about sensible cryp ...

The Philippine Securities and Exchange Commission (SEC) took action this week to restrict domestic users' access to 10 overseas cryptocurrency exchanges, including OKX, Bybit, and KuCoin. The Philippine SEC stated that the move aims to enforce new regulations that took effect in June, requiring all crypto service providers to complete registration and comply with regulatory requirements.https://t.co/0P5bP2cFVc ...

Core Viewpoint - Regulatory optimism surrounding cryptocurrencies has increased following President Trump's comments that most Republican detractors would support pro-crypto legislation in the House [1]. Group 1: Cryptocurrency Market Reaction - Bitcoin's price rose above $119,000, marking a 1.5% increase, while other cryptocurrencies also saw significant gains: Ether increased by 5.9%, XRP by 2.4%, Solana by 4.8%, and Binance's BNB by 1.9% over the last 24 hours [2]. - Shares of stablecoin issuer Circle rose by 4% in premarket trading, recovering most of the losses from the previous day, alongside increases for Coinbase (1.1%), BitMine (17%), SharpLink (15%), and Bit Digital (5%) [4]. Group 2: Legislative Developments - Trump indicated that he had discussions with 11 of the 12 Republicans who previously voted against advancing the GENIUS Act and other related bills, suggesting they would change their votes in favor [3]. - The GENIUS Act aims to establish federal regulations for stablecoin issuers, while the Digital Asset Market Clarity Act will clarify which agency regulates certain digital assets, and the Anti-CBDC Surveillance State Act seeks to prevent the Federal Reserve from issuing a central bank digital currency [5]. Group 3: Opposition to Legislation - Some legislators opposed Trump's crypto bills due to procedural issues, such as the lack of opportunity to submit amendments, and concerns regarding the absence of a ban on central bank digital currencies in the GENIUS Act [6]. - Democrats have raised concerns about Trump's connections to the cryptocurrency industry, particularly regarding World Liberty Financial and potential conflicts of interest related to Trump-branded meme coins [6].