Bo Hines, executive director of President Donald Trump’s White House Crypto Council, has announced his departure to return to the private sector. Key Takeaways: Bo Hines is stepping down as executive director of the White House Crypto Council. During his tenure, the council advanced US crypto policy but fell short on its strategic Bitcoin reserve plans. Hines proposed revaluing US gold holdings to fund Bitcoin purchases without increasing public spending. Hines, appointed in December 2024, confirmed the move on Saturday , expressing gratitude to the crypto community and crediting his collaboration with AI & Crypto Czar David Sacks for helping “position America as the crypto capital of the world.” A successor has yet to be officially named, though independent reporter Eleanor Terrett suggested deputy director Patrick Witt is the leading candidate. Hines-Led Council Shaped US Crypto Policy With July Regulatory Plan Under Hines’ tenure, the council played a key role in shaping US crypto policy, including a July report outlining a regulatory action plan for digital assets. However, the group faced criticism for falling short on its strategic Bitcoin reserve initiative. In January, President Trump signed an executive order establishing both a national crypto stockpile and a strategic Bitcoin reserve. The order prevents the government from selling its BTC holdings and requires “budget-neutral” methods to acquire more, meaning no additional public spending. New BTC can only be obtained through asset seizures or other non-budgetary avenues. Hines proposed one such method in March, suggesting the US revalue its gold holdings, currently on government books at $42.22 per troy ounce, closer to the spot market price of around $3,400. He argued that a portion of the revaluation gains could be converted into Bitcoin, expanding the reserve without increasing public expenditure. “As I return to the private sector, I look forward to continuing my support for the crypto ecosystem as it thrives here in the United States,” Hines wrote. Serving in President Trump’s administration and working alongside our brilliant AI & Crypto Czar @DavidSacks as Executive Director of the White House Crypto Council has been the honor of a lifetime. Together, we have positioned America as the crypto capital of the world. I’m… — Bo Hines (@BoHines) August 9, 2025 Trump Administration Pushes Pro-Crypto Agenda The Trump administration advanced its pro-crypto agenda this week with a series of policy and regulatory moves. President Trump signed an executive order urging regulators to remove barriers that prevent 401(k) plans from including alternative assets such as cryptocurrencies. If implemented, the reforms could allow millions of Americans to allocate retirement funds to Bitcoin and other digital assets through regulated channels. Trump also nominated economist Stephen Miran , a digital asset advocate, to the Federal Reserve Board of Governors, signaling continuity in his administration’s pro-crypto stance. The announcement coincided with Bitcoin climbing back above $117,000, highlighting the link between policy developments and market sentiment. In a separate executive order, Trump moved to end “debanking” practices that target lawful crypto firms. The Blockchain Association praised the measures as a “historic shift” that would expand consumer choice, empower wealth-building, and reduce operational barriers for blockchain businesses. The SEC added to the positive momentum by clarifying that certain liquid staking models, such as those involving receipt tokens like stETH, are not securities. SEC Chair Paul Atkins reinforced his commitment to keeping crypto innovation in the U.S., pledging a proactive approach to regulation and a shift away from enforcement-led policymaking. The post White House Digital Assets Adviser Bo Hines Steps Down, Returns to Private Sector appeared first on Cryptonews .
cryptonews 2025-08-10 13:50
The new Investment Bank Law will allow so-called “sophisticated investors” to take advantage of innovative opportunities, which may include bitcoin or crypto-based products issued to seek funding, thereby opening the doors to a more dynamic crypto ecosystem in El Salvador. Investment Bank Law Puts Bitcoin Front and Center in El Salvador The newly approved Investment
Bitcoin.com 2025-08-10 11:30
Institutional investors are reshaping the crypto landscape by driving new narratives, as banks and governments push for regulation and integration into traditional finance. Institutional investors dominate the current crypto market
CoinOtag 2025-08-09 23:48
The highlights of the week in terms of crypto in LATAM are that El Salvador is preparing to launch the world’s first Bitcoin banks, a significant step toward integrating BTC into its financial system. Meanwhile, Brazilian fintech Méliuz takes a significant step toward international expansion by filing for a Level I American Depositary Receipt (ADR) program, allowing US investors to trade its shares over the counter. These examples demonstrate the tremendous momentum for Bitcoin acceptance and innovation in Latin America. Bitcoin banks on the horizon in El Salvador El Salvador’s Bitcoin revolution is entering an exciting new phase, with the country preparing to welcome the world’s first “Bitcoin Banks.” The statement came from The Bitcoin Office, which teased the revelation on its X account while proudly referring to the country as “Bitcoin Country.” While official details are few, it is thought that the project will include the establishment of entirely BTC-denominated banking services, maybe backed by new legislation. This decision marks another step toward incorporating Bitcoin into El Salvador’s financial system, demonstrating the country’s commitment to digital currency innovation. Max Keiser, Senior Bitcoin Advisor to President Nayib Bukele, highlighted the project’s scope in an exclusive statement to BeInCrypto. Keiser, along with his wife Stacy Herbert, Director of The Bitcoin Office, has played a key role in developing El Salvador’s pro-Bitcoin laws since 2021, when BTC became legal tender. The establishment of Bitcoin Banks might be a watershed event in the country’s ambition to position itself as the worldwide hub of Bitcoin innovation, potentially attracting investors, entrepreneurs, and cryptocurrency aficionados from all over the world. Méliuz expands international reach with US ADR program Méliuz, a Brazilian fintech noted for its reward model and strategic usage of Bitcoin, has taken a big step towards internationalisation by filing an F-6 form with the United States Securities and Exchange Commission on August 5. The filing certifies the establishment of a Level I American Depositary Receipt (ADR) scheme, with JPMorgan as the depositary bank. This arrangement will enable Méliuz shares to be traded in the US over-the-counter market without a direct listing on major exchanges such as the NYSE or Nasdaq. By implementing ADRs, the company hopes to improve foreign investor access to its shares and strengthen its presence in global capital markets. The ADR program is designed to boost Méliuz’s visibility and liquidity, putting it on par with other Brazilian companies having a presence in US markets. According to the formal filing, JPMorgan will hold the underlying shares in Brazil, with each ADR reflecting a percentage of Méliuz’s common stock. Méliuz, founded in 2011, has been increasing its presence in the digital financial industry, with its latest projects focused on Bitcoin. The appointment of Mason Foard as Bitcoin Strategy Director emphasises this approach. While the ADR structure is already in place, the company has yet to set an official start date for trading. Brazil to hold first public hearing on Bitcoin as a reserve asset Brazil’s Industry, Commerce, and Services Committee has planned a public hearing on August 20 at 4 p.m. to discuss Bitcoin’s (BTC) potential as a national reserve asset. Congressman Gustavo Gayer (PL-GO) requested the session, which will be place in Plenary 5 in Brasília and aired live on the Chamber of Deputies’ YouTube channel. He contends that Bitcoin’s decentralised character, scarcity, and resistance to arbitrary issuance make it a possible inflation hedge and a secure store of value in Brazil. The session is anticipated to bring together crypto industry experts, economists, and public institution officials to examine the dangers, opportunities, and consequences of adding BTC to Brazil’s sovereign reserves. This is the first time the National Congress has formally considered Bitcoin for such a role, indicating a growing institutional interest in decentralised alternatives amid global financial upheavals. The post LATAM crypto news: El Salvador prepares Bitcoin banks, Méliuz debuts US ADR program appeared first on Invezz
Invezz 2025-08-09 16:27
A federal judge in California has cleared the way for investors to pursue state-level class actions against celebrities and other promoters of the EthereumMax (EMAX) token, while rejecting a broader nationwide claim. Key Takeaways: A judge allowed state-level EMAX class actions in NY, CA, FL, and NJ to proceed but rejected a nationwide class. Claims target Kim Kardashian, Floyd Mayweather, Paul Pierce, and others linked to EMAX’s creation. The token’s 2021 surge of 116,000% was followed by a 99% crash, sparking investor losses and lawsuits. In a Wednesday order , US District Judge Michael Fitzgerald granted a motion allowing class actions in New York, California, Florida, and New Jersey to proceed. The cases involve investors who bought EMAX between May and June 2021, a period when the token’s price spiked over 116,000% before collapsing more than 99%. Judge Says Proposed State Classes Meet Federal Procedural Standards “Plaintiffs have demonstrated that the proposed state classes comport with the requirements of Federal Rules of Civil Procedure,” the ruling stated. However, Fitzgerald found that a nationwide class would pose “too high” a risk of applying California and Florida law beyond their jurisdictions, and could lead to individualized questions not suited to collective resolution. The decision keeps alive investor claims against high-profile figures including Kim Kardashian, Floyd Mayweather, and former NBA star Paul Pierce, all of whom publicly promoted EMAX. It also targets individuals linked to the token’s creation, such as EMAX Holdings, co-founder Giovanni Perone, and alleged consultant Jona Rechnitz. Kardashian’s promotion, posted to her Instagram Story in 2021, is believed to have reached up to 200 million users. EthereumMax, described in its white paper as a “culture token,” became a viral name in crypto circles in mid-2021 due to celebrity endorsements. Critics accused it of being a “pump and dump” scheme after the rapid price surge was followed by an almost total collapse, leaving retail investors with heavy losses. 8. The Kardashians The Kardashians were fined by the SEC for failing to disclose payments from the EthereumMax crypto project. pic.twitter.com/2TQYNKk1Np — Evan Luthra (@EvanLuthra) June 1, 2024 Fitzgerald had previously dismissed the lawsuit in December 2022, reasoning that buyers were responsible for conducting due diligence before investing. However, he allowed plaintiffs to refile, which they did seven months later in the same court. Separately, Kardashian settled with the US Securities and Exchange Commission in October 2022 for $1.2 million over charges she failed to disclose a $250,000 payment to promote the token. Ex-NBA Star Paul Pierce Fined $1.4M in EthereumMax Promotion Case In 2023, the SEC also charged former NBA player Paul Pierce with violating anti-fraud and anti-touting rules by promoting the EthereumMax cryptocurrency. Pierce agreed to settle the charges and pay $1.409 million in penalties. The regulator charged the NFT star for touting EMAX tokens, cryptocurrencies sold by EthereumMax, on social media without disclosing the payment he received for the promotion and for making false and misleading statements regarding the token. The commission detailed that Pierce received more than $244,000 worth of EMAX tokens to promote the project on Twitter. On one special occasion, Pierce tweeted a screenshot of an account showing large holdings and profits without disclosing that it was not his own personal holdings. The NBA star agreed to settle the charges by paying $1.4 million in penalties, disgorgement and interest “without admitting or denying the SEC’s findings,” the commission said. The post Judge Allows State-Level Class Actions Against EthereumMax Promoters to Proceed appeared first on Cryptonews .
cryptonews 2025-08-09 13:03
Chinese regulators have instructed major domestic brokerages to halt the publication of research and public commentary related to stablecoins. The move comes as China sees a rising wave of domestic interest in stable digital assets, which is reportedly causing concern among mainland authorities who remain opposed to most cryptocurrency activity. Sources with knowledge of the situation said that regulatory bodies began quietly guiding major financial firms in late July and early August to step back from content or events that might endorse stablecoins or drive further curiosity. Some influential think tanks were also reportedly asked to cancel seminars or planned events related to stablecoins. This coordinated pressure appears to be part of Beijing’s broader attempt to suppress the growing narrative around dollar-pegged crypto assets, which have become an increasingly popular way for Chinese investors to gain exposure to digital finance through cross-border channels. Mainland China crackdown contrasts with Hong Kong crypto progress In May, Hong Kong approved a stablecoin regulation framework that effectively opened the door for licensed entities to issue fiat-backed stablecoins and provide related services under supervision. Since then, financial firms in mainland China have seen a spike in client interest, particularly in how stablecoins might offer alternatives to traditional fiat assets. That interest appears to have alarmed regulators in Beijing, who remain cautious about any financial instrument not controlled by the state, especially those tied to foreign currencies like the U.S. dollar. Although the Chinese government has largely embraced blockchain infrastructure as a technological innovation, it has kept a firm ban on most decentralized cryptocurrencies since 2021, with the exception of select blockchain pilots under state supervision. Officials have occasionally acknowledged the challenges posed by stablecoins. In June, PBOC Governor Pan Gongsheng publicly remarked that the rise of stablecoins and other digital currencies posed “huge challenges to financial regulation.” Behind the scenes, local governments are also assessing the implications, per reports . Last month, regulators in Shanghai reportedly held a strategy meeting with local officials to evaluate stablecoin-related risks and responses. However, a post on the Shanghai State-owned Assets Supervision and Administration Commission’s official WeChat page summarizing the meeting was later deleted, suggesting central authorities may be clamping down on even high-level public discourse around the topic. Information control amid rising demand Despite mainland bans, stablecoins remain widely used by Chinese investors, particularly via offshore platforms or through over-the-counter (OTC) intermediaries. The crackdown on brokerages appears aimed at cutting off institutional endorsement that could validate or accelerate public adoption of these assets. While Hong Kong continues to position itself as a regulated crypto hub for Asia, China’s approach underscores its attempt to firewall domestic financial behavior from external crypto-related influence. This latest move raises questions about the long-term prospects for digital asset education and engagement in mainland China, even as the global conversation around stablecoins becomes increasingly mainstream. By contrast, China’s actions suggest it views such assets not just as financial tools, but as a potential sovereignty issue, especially in a monetary environment where capital control remains a key pillar of economic strategy. Get seen where it counts. Advertise in Cryptopolitan Research and reach crypto’s sharpest investors and builders.
Cryptopolitan 2025-08-08 23:10
BitcoinWorld Crucial Win: EthereumMax Investors Secure Partial Class-Action Approval The cryptocurrency world often moves at lightning speed, but sometimes, justice takes its time. In a significant development for the crypto community, a California judge has granted partial class-action approval to EthereumMax investors . This decision allows four state-level lawsuits to proceed against the token’s promoters, bringing a renewed focus on accountability in celebrity crypto promotion . What Does This Mean for EthereumMax Investors? This ruling is a pivotal moment for those who invested in EthereumMax (EMAX) during its highly publicized 2021 promotion. While a nationwide class-action was not approved, the judge’s decision to allow state-level cases in New York, California, Florida, and New Jersey is a substantial step forward. These lawsuits specifically target high-profile figures such as Kim Kardashian, Floyd Mayweather, and Paul Pierce, alongside the EMAX founders and their associates. The core allegation in these cases is that the 2021 promotion of EthereumMax was not a legitimate investment opportunity but rather a classic “pump and dump” scheme. This legal progress offers a glimmer of hope for investors seeking redress. Understanding the Alleged Pump and Dump Scheme For those unfamiliar, a pump and dump scheme involves artificially inflating the price of an asset, typically through misleading statements or aggressive promotion, and then selling off the cheaply purchased assets once the price peaks. In the context of the EthereumMax lawsuit , plaintiffs allege that the celebrity endorsements played a crucial role in this artificial inflation. Pump: Celebrities allegedly promoted EMAX to their vast audiences without disclosing their financial ties. This created significant hype and drove up demand. Dump: Once the price reached a desired level, the promoters and insiders allegedly sold their holdings, causing the token’s value to plummet and leaving regular investors with substantial losses. This pattern is a serious concern in the unregulated corners of the crypto market. It highlights the need for investors to exercise extreme caution, especially when dealing with projects heavily reliant on celebrity endorsements. The Role of Celebrity Crypto Promotion and Regulatory Scrutiny The involvement of celebrities like Kim Kardashian in the EMAX investors saga brought significant attention to the potential pitfalls of undisclosed paid promotions. Kardashian previously faced action from the U.S. Securities and Exchange Commission (SEC) for her role. She settled with the SEC for $1.2 million, agreeing to pay back the $250,000 she received for the promotion, plus penalties, and to not promote any crypto asset securities for three years. Cointelegraph reported on this settlement, emphasizing the regulatory body’s stance on transparency. This SEC action, coupled with the ongoing crypto legal action , sends a clear message: celebrity influencers must disclose their financial relationships when promoting investment opportunities, especially in the volatile crypto space. Investors should always question the motivations behind such endorsements. What Can Investors Learn from the EthereumMax Lawsuit? The ongoing legal battle serves as a stark reminder of the risks involved in cryptocurrency investments, particularly those pushed by high-profile figures. Here are some actionable insights for current and prospective crypto investors: Do Your Own Research (DYOR): Never rely solely on celebrity endorsements. Thoroughly investigate the project’s whitepaper, team, technology, and community. Understand the Risks: Cryptocurrencies are highly volatile. Invest only what you can afford to lose. Beware of Hype: Excessive hype, especially without clear utility or innovation, can be a red flag for a potential pump and dump scheme . Check for Disclosures: If a celebrity promotes a crypto asset, look for clear disclosures of their compensation. Regulatory bodies like the SEC require this transparency. Consider Legal Recourse: If you believe you have been a victim of fraud, consult with legal professionals about your options, as demonstrated by the EthereumMax lawsuit . This partial class-action approval is a significant step towards holding individuals accountable for their roles in potentially misleading crypto promotions. It reinforces the growing scrutiny from both regulators and the judiciary on the crypto market. The journey for the EMAX investors is far from over, but this ruling provides a strong foundation for their pursuit of justice. It underscores the evolving landscape of crypto legal action and the increasing pressure on promoters to act responsibly. This case will undoubtedly set precedents for future celebrity endorsements in the digital asset space. Frequently Asked Questions (FAQs) Q1: What is EthereumMax (EMAX)? A1: EthereumMax (EMAX) is a cryptocurrency token launched in 2021 that gained significant attention due to celebrity promotions, but later saw its value decline sharply amidst allegations of a pump and dump scheme. Q2: Who are the celebrities involved in the EthereumMax lawsuit? A2: The lawsuits name celebrities such as Kim Kardashian, Floyd Mayweather, and Paul Pierce, among others, for their alleged roles in promoting the EMAX token. Q3: What is a “pump and dump” scheme in crypto? A3: A pump and dump scheme is a fraudulent practice where the price of an asset is artificially inflated through misleading promotions (the “pump”), after which the perpetrators sell their holdings at the inflated price (the “dump”), causing the price to crash and leaving other investors with losses. Q4: Has Kim Kardashian faced any prior action regarding EthereumMax? A4: Yes, Kim Kardashian settled with the U.S. Securities and Exchange Commission (SEC) for $1.2 million in 2022 over her undisclosed promotion of EthereumMax. Q5: What is the significance of the partial class-action approval for EthereumMax investors? A5: The partial class-action approval means that four state-level lawsuits can proceed, allowing a group of investors in specific states to collectively pursue claims against the promoters, potentially leading to financial recovery and setting a precedent for future crypto legal action. Q6: How can investors protect themselves from similar schemes? A6: Investors should always conduct thorough due diligence (DYOR), be skeptical of projects heavily reliant on celebrity endorsements, understand the inherent risks of crypto, and look for transparent disclosures from promoters. If you found this article insightful, consider sharing it with your network! Help us spread awareness about important developments in the crypto space and empower more investors to make informed decisions. Share on X (formerly Twitter), Facebook, or LinkedIn. To learn more about the latest crypto market trends, explore our article on key developments shaping Ethereum institutional adoption . This post Crucial Win: EthereumMax Investors Secure Partial Class-Action Approval first appeared on BitcoinWorld and is written by Editorial Team
Bitcoin World 2025-08-08 22:25
This week marked further progress in the U.S. crypto regulation environment, with President Donald Trump’s administration making moves in favor of digital assets and the Securities and Exchange Commission (SEC) clarifying the legality of liquid staking products. Trump Pushes for Crypto in 401(k) Retirement Accounts President Trump on Thursday signed an executive order that could reshape the future of American retirement savings. The directive urges regulators to identify and remove barriers preventing employers from offering alternative assets—such as cryptocurrencies, private equity, and real estate—in workplace retirement plans known as 401(k)s. The move is part of a broader agenda to diversify investment options for American savers, especially amid inflation concerns and dissatisfaction with traditional pension plans. While the order doesn’t immediately change existing rules, it instructs regulatory bodies, including the Department of Labor and the Treasury, to re-evaluate current restrictions and recommend reforms. By targeting 401(k) limitations, Trump is pushing crypto regulation into mainstream financial planning. If fully implemented, the policy could allow millions of Americans to allocate retirement funds to Bitcoin and other digital assets through regulated channels, effectively legitimizing crypto as a long-term wealth vehicle. Pro-Crypto Economist Stephen Miran Nominated to Fed Board Alongside the retirement reform, Trump announced the nomination of economist Stephen Miran to the Federal Reserve Board of Governors. Miran, who currently serves as chair of the Council of Economic Advisers, is widely viewed as supportive of digital assets and financial innovation. United States Securities and Exchange Commission (SEC) head Paul Atkins doubled down on his commitment to ensuring the next wave of “financial innovation” happens on American soil in an August 4 X post.Paul Atkins Reaffirms U.S. Commitmen… https://t.co/YFYyHDJze2 — Cryptonews.com (@cryptonews) August 4, 2025 Trump made the announcement via Truth Social, stating that Miran will fill the seat vacated by Adriana Kugler, a Biden appointee who recently resigned. Although Miran’s term will run only through January 2026, the decision is being interpreted by analysts as a sign of continuity in Trump’s evolving pro-crypto stance. The news coincided with Bitcoin’s rise back above $117,000—a symbolic reminder of the strong link between crypto markets and policy developments. With Miran on the Fed Board, crypto-friendly monetary policy views could find firmer footing at the U.S. central bank. Association Hails Trump’s Exec Orders as ‘Historic Shift’ Trump’s twin executive orders also drew praise from crypto industry leaders. Summer Mersinger, CEO of the Blockchain Association, called the actions “a historic shift in how the U.S. treats digital assets and the innovators building in this space.” The second order, signed alongside the 401(k) directive, seeks to end the controversial practice of “debanking”—where financial institutions deny services to lawful crypto firms based on perceived reputational risk. The order penalizes banks that discriminate against crypto clients without due cause, a move that could ease operational burdens for blockchain startups and exchanges. Mersinger stated that the executive orders are not only pro-business but also reinforce consumer rights. “Allowing Americans to include regulated, diversified crypto exposure in their retirement accounts expands consumer choice and empowers individuals to responsibly build wealth,” she said. SEC Clarifies Liquid Staking Is Not a Securities Transaction While the executive branch took the spotlight this week, the SEC also made waves by clarifying its stance on liquid staking, a long-awaited issue for the DeFi sector amid crypto regulation concerns. United States Securities and Exchange Commission (SEC) head Paul Atkins doubled down on his commitment to ensuring the next wave of “financial innovation” happens on American soil in an August 4 X post.Paul Atkins Reaffirms U.S. Commitmen… https://t.co/YFYyHDJze2 — Cryptonews.com (@cryptonews) August 4, 2025 In a statement released Tuesday, the SEC’s Division of Corporation Finance explained that certain types of liquid staking models, particularly those involving receipt tokens like Lido’s stETH, do not qualify as securities. This means platforms can offer these services without registering them under securities law, easing fears of regulatory crackdowns. Jason Gottlieb, a partner at Morrison Cohen, welcomed the move, noting that the SEC appears to be maturing in its understanding of crypto mechanics. “At heart, a liquid staking token is just a receipt on a token,” he said. “With the SEC now correctly taking the position that cryptocurrency tokens themselves are not securities, it makes sense that a receipt for a token is not a receipt for a security.” The guidance is expected to boost institutional confidence in liquid staking and may pave the way for regulated DeFi investment products in the U.S. market. SEC Chair Vows to Keep Crypto Development on U.S. Soil Rounding out the week’s crypto regulation developments, newly appointed SEC Chair Paul Atkins reaffirmed his commitment to ensuring crypto innovation happens in the United States. United States Securities and Exchange Commission (SEC) head Paul Atkins doubled down on his commitment to ensuring the next wave of “financial innovation” happens on American soil in an August 4 X post.Paul Atkins Reaffirms U.S. Commitmen… https://t.co/YFYyHDJze2 — Cryptonews.com (@cryptonews) August 4, 2025 In remarks delivered at the America First Policy Institute and later posted on his official X account, Atkins said the SEC under his leadership will be “proactive, not reactive” in building a crypto-friendly regulatory environment. “The SEC will not stand idly by and watch innovations develop overseas while our capital markets remain stagnant,” he said, framing the agency’s future agenda as a bid to reclaim U.S. leadership in digital finance. Atkins’ comments build on a broader shift in tone at the SEC, where officials appear increasingly open to working with the crypto industry rather than policing it through enforcement alone. From Washington to Wall Street, this week shows a growing political will to integrate digital assets into the mainstream financial system. Trump’s executive orders, along with regulatory signs from the SEC, suggest a more constructive environment for both crypto firms and investors heading into the second half of 2025. The post Weekly Crypto Regulation Roundup: Trump Backs Crypto in 401(K) Accounts, and SEC Embraces Liquid Staking appeared first on Cryptonews .
cryptonews 2025-08-08 22:03
BitcoinWorld Ukraine Crypto Bill: Crucial August Review Set to Shape Digital Asset Future Exciting developments are on the horizon for the digital asset landscape in Eastern Europe! Ukraine is taking a significant step forward, with its parliament poised to review a pivotal Ukraine crypto bill in late August. This legislative move could redefine how cryptocurrencies are treated within the nation, signaling a clear path towards greater integration and regulation for digital assets. What’s on the Table for the Ukraine Crypto Bill? The upcoming parliamentary session will focus on a comprehensive framework for cryptocurrency regulation. This isn’t just a minor tweak; it’s a foundational proposal designed to bring clarity and legal standing to digital assets across the country. The bill aims to establish a clear legal basis for the circulation and management of cryptocurrencies, addressing a long-standing need in the sector. One of the most talked-about aspects of this proposed Ukraine crypto bill involves taxation. For individuals who have already acquired digital assets, the bill suggests a specific pathway for legalization. This is a critical point for many existing crypto holders in the country, offering a chance to formalize their holdings. Understanding the Proposed Cryptocurrency Tax Ukraine The draft legislation outlines a straightforward tax structure for legalized crypto holdings. It proposes a clear framework for the cryptocurrency tax Ukraine residents would pay. Specifically, the bill suggests: A 5% income tax on profits derived from cryptocurrency activities. An additional 5% military duty , which would also apply to these gains. This combined 10% levy is intended to formalize past gains and contribute to national coffers. This taxation approach seeks to encourage existing holders to declare their assets, providing a structured way to bring previously undeclared holdings into the legal financial system. For the government, this represents a new source of revenue and a step towards comprehensive financial oversight. Will Ukraine Bitcoin Reserves Become a Reality? Beyond taxation, the bill touches upon an even more intriguing possibility: the inclusion of cryptocurrencies in the nation’s reserves. Cointelegraph reported that the central bank might gain the authority to incorporate digital assets into its official holdings. This would be a monumental shift, potentially making Ukraine one of the pioneering nations to hold significant crypto as part of its strategic reserves. Ukraine already possesses a notable amount of Bitcoin, reportedly holding 46,351 BTC . Should the central bank be empowered to manage or expand these holdings, it could signify a profound institutional embrace of digital currencies. This move could also bolster national financial stability and diversify reserve portfolios, highlighting the potential for Ukraine Bitcoin reserves to become a reality. Broader Implications of Digital Asset Legislation This comprehensive digital asset legislation has far-reaching implications, not just for Ukraine but for the global crypto landscape. A clear regulatory framework can foster greater investor confidence and attract more businesses to the country’s crypto sector. It provides the certainty that many traditional financial institutions seek before engaging with digital assets, encouraging further investment. The bill’s passage could also set a precedent for other nations considering similar moves. As countries worldwide grapple with how to regulate the burgeoning crypto market, Ukraine’s approach to crypto regulation Ukraine offers a compelling case study. It balances innovation with the need for fiscal responsibility and legal clarity, showcasing a pragmatic path forward. Ultimately, this legislative push signals Ukraine’s commitment to becoming a leader in the digital economy. By providing a clear legal and tax environment, the country aims to harness the potential of cryptocurrencies while mitigating associated risks. The late August review will be a defining moment for the future of crypto in Ukraine. In summary, Ukraine’s impending review of its crypto bill is a significant event for the global cryptocurrency community. It addresses crucial aspects like taxation of past holdings and the potential for central bank crypto reserves. This forward-thinking Ukraine crypto bill aims to integrate digital assets into the national economy, setting a clear path for their future. The outcome will undoubtedly shape Ukraine’s financial landscape and serve as an important benchmark for global crypto regulation efforts. Frequently Asked Questions (FAQs) Q1: When will Ukraine’s parliament review the crypto bill? A1: Ukraine’s parliament is set to review the comprehensive crypto regulation bill in late August. Q2: What taxes are proposed for crypto holdings in Ukraine? A2: The bill proposes a 5% income tax and an additional 5% military duty for legalizing past cryptocurrency holdings. Q3: Can Ukraine’s central bank hold cryptocurrencies as reserves? A3: Yes, Cointelegraph reported that the bill may allow Ukraine’s central bank to include cryptocurrencies in its national reserves. Q4: What is the current amount of Bitcoin reportedly held by Ukraine? A4: Ukraine reportedly holds 46,351 BTC. Q5: How does this bill benefit crypto holders in Ukraine? A5: The bill provides a clear legal framework for digital assets and offers a pathway for crypto holders to legalize their past holdings, bringing clarity and reducing uncertainty. If you found this insight into Ukraine’s crypto regulation efforts valuable, please share this article on your social media platforms! Help us spread awareness about these crucial developments in the global digital asset space and contribute to a more informed crypto community. To learn more about the latest crypto regulation Ukraine trends, explore our article on key developments shaping digital asset legislation and its impact on institutional adoption . This post Ukraine Crypto Bill: Crucial August Review Set to Shape Digital Asset Future first appeared on BitcoinWorld and is written by Editorial Team
Bitcoin World 2025-08-08 21:15
The Ethereum ETH Foundation has pledged to match up to $500,000 in new donations to support the legal defense of Roman Storm , co-developer of Tornado Cash.
BitDegree 2025-08-08 16:33
The monetary authority of Ukraine is open to legalizing crypto assets, if that doesn’t cross certain “red lines,” its governor has emphasized in statements for Ukrainian media. Using the likes of Bitcoin for payments, for example, is out of the question for the central bank’s top executive. Cryptocurrency transactions should not interfere with martial law controls, either. NBU draws lines in the sand for crypto in Ukraine The National Bank of Ukraine (NBU) is ready to discuss crypto legalization, its head has clearly indicated. Chairman Andriy Pyshnyy shared his views on the matter in a broad interview with RBC-Ukraine, touching on a wide range of topics, from the effects of war on the country’s economy to getting rid of the Russian word “kopeck” on Ukrainian coins. Cryptocurrencies cannot be legal tender in Ukraine and must not impede the NBU’s policies, the governor stressed in his conversation with the business news outlet, also quoted by Ukrinform, the country’s official news agency. Pyshnyy stated: “It is important for us that our ‘red lines’ are clearly followed. Virtual assets cannot be a means of payment and cannot in any way undermine the effectiveness of our monetary instruments.” The central bank should not lose any powers or capabilities as a result, the official insisted. In his view, crypto shouldn’t be a tool to circumvent restrictions imposed under martial law to balance the monetary market and ensure sufficient gold and foreign currency reserves. Pyshnyy highlighted the importance of empowering regulators to deal with any violations of consumer rights in the digital currency market as well as the need to ensure competent regulation and provide technical solutions for effective supervision. He underscored that Ukraine’s legislation must implement the standards adopted by the Financial Action Task Force (FATF) on money laundering and the new European rules within the framework of the EU’s Markets in Crypto Assets ( MiCA ) law, adding: “The legalization of virtual assets should not undermine our effectiveness in ensuring financial monitoring.” Governor sees chance to bring crypto out of the shadows Andriy Pyshnyy is convinced that legalization will be “an ideal solution” if it helps to “de-shadow” the crypto market. He says this would also positively influence the assessment of Ukraine’s financial sector by Kyiv’s allies in the West. The banker pondered: “Perhaps we need to have a broader discussion – what exactly will encourage bringing those virtual assets that already exist and are owned today out of the shadows.” The Ukrainian government has been taking steps to regulate the circulation of cryptocurrencies which has increased over the past few years amid fiat restrictions related to the war with Russia. It’s also preparing to establish a strategic Bitcoin reserve, as Cryptopolitan reported in May. Draft legislation allowing the NBU to hold cryptocurrencies was submitted by a group of lawmakers in June. It seeks to authorize adding digital coins to Ukraine’s foreign exchange reserves. The sponsors say this won’t clash with its international commitments. Members of the Verkhovna Rada, Ukraine’s legislature, are going to review a bill designed to legalize the digital assets market as early as August, according to Danylo Hetmantsev, chair of the Rada committee on finance, taxation and customs policy. The delay in adopting comprehensive rules for the industry has been a source of contention between the executive power and the parliamentary opposition in Kyiv. Earlier this year, the administration of President Volodymyr Zelenskyy was accused of blocking the consideration of the draft law. Meanwhile, some Ukrainian cryptocurrency firms have decided to leave the country, citing war-time restrictions and regulatory uncertainty as their main reasons. This past spring, payment card issuer Weld Money announced it’s wrapping up operations. Crypto exchange Kuna also said it’s ending trading in Ukraine. Get seen where it counts. Advertise in Cryptopolitan Research and reach crypto’s sharpest investors and builders.
Cryptopolitan 2025-08-08 14:01
BitcoinWorld China’s Urgent Stablecoin Ban: Brokers Halt Promotion The cryptocurrency world is buzzing with news from Beijing. Chinese authorities have reportedly directed brokers to cease stablecoin promotion to domestic users. This latest directive signals a significant reinforcement of the nation’s stringent stance on digital assets, particularly as the existing China stablecoin ban tightens its grip on the financial landscape. This decisive action further solidifies the comprehensive Chinese crypto ban that has been in place since 2021. What’s Behind China’s Latest Stablecoin Ban? According to a recent report from Bloomberg, the Chinese government is actively working to curb the growing enthusiasm for digital assets within its borders. This new order targets brokers, specifically instructing them to halt any activities that promote stablecoins to local users. This move is not entirely new; it builds upon the comprehensive Chinese crypto ban implemented in 2021, which effectively outlawed crypto trading and mining. The core objective appears to be maintaining tight control over capital flows and ensuring financial stability. Stablecoins, designed to maintain a stable value against a fiat currency like the US dollar, often serve as a bridge between traditional finance and the volatile crypto world. For Chinese citizens, they can potentially offer a pathway to bypass strict capital controls, which authorities are keen to prevent. How Do Digital Asset Regulations Impact Users? The latest directive on stablecoin promotion has direct implications for individuals seeking exposure to digital currencies. Previously, while direct crypto trading was banned, some users might have found indirect ways to acquire stablecoins, perhaps through international platforms or peer-to-peer networks. This new order aims to close such avenues, making it considerably harder for domestic users to engage with any form of digital asset. These evolving digital asset regulations highlight China’s consistent strategy. The government views decentralized cryptocurrencies as a threat to its financial sovereignty and a potential channel for illicit activities or capital flight. Therefore, every measure taken aims to solidify the state’s control over its financial ecosystem, pushing citizens towards regulated alternatives, such as the digital yuan. The ongoing enforcement of the China stablecoin ban is a clear example of this commitment. Challenges for the Crypto Market in China The ongoing crackdown presents significant challenges for the crypto market China . With brokers now explicitly forbidden from stablecoin promotion, the accessibility of digital assets for Chinese citizens becomes even more restricted. This creates a clear barrier for individuals who might otherwise explore decentralized finance (DeFi) or other crypto-related opportunities. Key challenges include: Reduced Accessibility: Direct and indirect pathways to acquire stablecoins are shrinking. Increased Risk: Users attempting to bypass the ban face higher risks of legal repercussions or scams. Isolation from Global Trends: The strict controls isolate the Chinese financial system from global crypto innovations and trends. This systematic approach underscores China’s long-term vision: a tightly controlled financial environment where the state retains ultimate authority over all monetary flows and digital transactions. What Does This Mean for Global Digital Asset Regulations? While the focus is on China, this development also sends a ripple through the global landscape of digital asset regulations . China’s actions often serve as a precedent or at least a point of reference for other nations grappling with how to regulate the burgeoning crypto space. The firm stance against stablecoin promotion reflects a broader global debate on how to manage the risks associated with these digital currencies. The ongoing China stablecoin ban demonstrates a clear intent to prioritize national financial security and control over the potential benefits of an open, decentralized digital economy. This contrasts sharply with some Western nations that are exploring regulated frameworks for stablecoins, aiming to integrate them into their financial systems. The Future of the Crypto Market in China It is clear that the crypto market China will continue to operate under severe restrictions. The government’s consistent efforts to eliminate all forms of crypto engagement, from mining to trading and now stablecoin promotion, indicate a long-term commitment to its current policy. For those interested in digital assets, understanding these prohibitions is crucial. The narrative in China remains consistent: unauthorized digital assets are a risk. This stance contrasts with the nation’s push for its own central bank digital currency (CBDC), the digital yuan, which is designed to operate under strict government control. This dichotomy highlights China’s desire to innovate within a controlled framework, rather than embracing the decentralized ethos of many cryptocurrencies. In conclusion, China’s directive to brokers to halt stablecoin promotion is a powerful reaffirmation of its long-standing Chinese crypto ban . This move underscores the nation’s unwavering commitment to financial control and its determination to prevent any digital asset from undermining its economic stability. As the digital landscape evolves, China’s approach remains a key factor in shaping global regulatory discussions, reinforcing the impact of the China stablecoin ban . Frequently Asked Questions (FAQs) Q1: What is the new directive from Chinese authorities regarding stablecoins? A1: Chinese authorities have ordered brokers to stop promoting stablecoins to domestic users, reinforcing the nation’s ban on crypto activities. Q2: Why is China cracking down on stablecoin promotion? A2: China aims to maintain financial stability, control capital flows, and prevent digital assets from bypassing its stringent financial regulations, which is part of its broader Chinese crypto ban strategy. Q3: How does this impact crypto users in China? A3: This directive makes it significantly harder for domestic users to access or engage with stablecoins and other digital assets, limiting their participation in the global crypto market China . Q4: What is China’s overall stance on cryptocurrencies? A4: China maintains a strict ban on crypto trading and mining, viewing decentralized cryptocurrencies as a threat to its financial sovereignty. It prefers its own state-controlled digital currency, the digital yuan. Q5: Does this ban affect the digital yuan? A5: No, this ban specifically targets decentralized cryptocurrencies and stablecoins. The digital yuan (CBDC) is a separate, state-controlled digital currency that China is actively promoting. Stay informed on the latest crypto news! Share this article with your network to spread awareness about China’s ongoing digital asset regulations and their impact on the global crypto market. To learn more about the latest explore our article on key developments shaping the crypto market and its digital asset regulations . This post China’s Urgent Stablecoin Ban: Brokers Halt Promotion first appeared on BitcoinWorld and is written by Editorial Team
Bitcoin World 2025-08-08 12:40
China’s Urgent Stablecoin Ban: Brokers Halt Promotion
