South Korea’s recent decision to halt its innovative CBDC pilot—Project Han River—is a stark reminder that government-led financial experiments often falter in the face of commercial realities. The Bank of Korea’s (BOK) initial enthusiasm was rooted in the belief that a state-controlled digital currency could modernize the financial ecosystem and enhance monetary sovereignty. However, the
Regulation
Senator Cynthia Lummis’s recent announcement of a forthcoming amendment to the “One Big Beautiful Bill” (OBBB) addressing digital asset taxation is overdue and absolutely necessary. The current tax code’s approach to cryptocurrency—especially mining and staking rewards—imposes an unjust double taxation regime. Miners and stakers get taxed once when block rewards are received (treated as ordinary
The narrative that global regulators are effectively containing the risks of virtual assets and cryptocurrencies is, at best, overly optimistic and, at worst, dangerously misleading. While there has been some legislative movement, such as the widespread adoption of the Travel Rule in 73% of jurisdictions surveyed by the Financial Action Task Force (FATF), the reality
Hong Kong is taking a bold step forward in the realm of digital assets with its newly unveiled “Policy Statement 2.0.” Announced on June 26, this ambitious framework represents a calculated response to the rapidly evolving financial landscape, positioning the city as a frontrunner in digital finance. By refining the initial policy from October 2022,
The Federal Housing Finance Agency (FHFA) recently made headlines with its bold directive to allow cryptocurrency reserves to be classified as eligible assets by Fannie Mae and Freddie Mac. This move, heralded by FHFA Director Willian J. Pulte, represents a substantial shift in the traditional mortgage landscape. By recognizing digital assets in risk assessments, the
As the world steadily embraces the digital economy, the digital asset sector has been caught in a complex web of regulatory ambiguity. With over 52 million Americans dabbling in cryptocurrencies, it’s perplexing that Congress has yet to establish a robust framework for this burgeoning industry. Slowly but surely, a bipartisan effort is emerging from the
Texas is stepping into uncharted territory with its recent legislation allowing the state to create a Bitcoin reserve using taxpayer dollars. Signed into law by Governor Greg Abbott, Senate Bill 21 marks a significant shift in how a state can engage with cryptocurrencies. This is more than just a legal change; it’s a stark reminder
Recently, Ripple etched its stance in the crypto arena with a bold four-point policy proposal aimed squarely at the UK. The message couldn’t be clearer: if the UK desires to reclaim its financial supremacy in the cryptocurrency realm, it must act decisively and immediately. Ripple’s high-profile UK Policy Summit galvanized attention on a crucial juncture
In an unexpected twist of financial evolution, traditional banking giants like Bank of America are setting their sights on the rapidly developing territory of stablecoins. With CEO Brian Moynihan at the helm, the bank plans to issue a dollar-pegged stablecoin, a move that reflects not only the appetite for innovation but also the urgency within
The ongoing saga between Ripple and the U.S. Securities and Exchange Commission (SEC) epitomizes the turbulent waters of cryptocurrency regulation. Ripple has been embroiled in a legal battle that put the company’s very existence on the line, all because of its XRP token, which the SEC claims is an unregistered security. After nearly four years
