Here are the highlights of today's crypto news, June 19, 2025:
🏦 1. Singapore: Crypto Firms Must Stop Serving Foreign Clients (Deadline June 30)
The Monetary Authority of Singapore (MAS) has instructed that all crypto companies based in Singapore must cease services to foreign clients no later than June 30, 2025, unless they already possess a license in accordance with the Financial Services and Markets Act 2025.
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🇹🇭 2. Thailand: Tax-Free Capital Gains for Crypto Until 2029
The Thai Cabinet approved the exemption of personal income tax for crypto capital gains for the next 5 years, effective from January 1, 2025 to December 31, 2029, applicable to Bitcoin and Ethereum on registered platforms.
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🇲🇾 3. Malaysia Reviews Crypto Regulation: New Tokens and Licenses
Malaysia has revised regulations since January 9, 2025: digital assets are classified as securities, there are licensing requirements for Issuers/IEO/Digital Custodians, as well as stricter enforcement of taxes and personal data.
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🇵🇰 4. Pakistan Forms Crypto Council & Official Bitcoin Reserves
"Pakistan Crypto Council" was formed in March 2025 to oversee the industry, with advisors including Binance CEO, CZ. The government also established strategic Bitcoin reserves and provided 2,000 MW of electricity for mining & AI centers.
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🛠️ 5. Binance Halts IOTX Deposits & Withdrawals for Hard Fork
Starting June 19, 2025, Binance temporarily halts the deposit/withdrawal services of the IoTeX token (IOTX) to support network upgrades and the hard fork.
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🚓 6. US DOJ Seizes $225 Million in Crypto from Fraud Scheme
The US Department of Justice seized digital assets worth $225 million from a fraudulent investment scheme, to be allocated to victims—implicating more than 400 individuals.
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⚖️ 7. UK Prepares Crypto Regulations for Banks Starting 2026
The Bank of England and the UK are preparing a regulatory framework for crypto in banking institutions, planned to take effect in 2026 following Basel Committee recommendations.
