Regulation

The U.S. Senate has passed the GENIUS bill with a strong bipartisan vote of 66 to 22 – signaling widespread support for stablecoin regulation across party lines. While supporters hail it as a crucial step toward consumer protection and market stability, critics warn that the bill may favor large corporations at the expense of small startups and innovation.

🔹 What Does the GENIUS Act Actually Bring?
Supporters argue that this legislation could help prevent disasters like the 2022 collapse of Terra Luna, which led to billions in losses. The bill requires stablecoin issuers to hold 100% of reserves in secure assets such as cash or U.S. Treasury bonds, ensuring users’ funds are fully backed.
In addition:

🔹 Issuers managing over $50 billion must publish monthly reserve disclosures,

🔹 They are subject to annual financial audits,

🔹 In the event of bankruptcy, everyday users get repayment priority.
Proponents say this creates trust, transparency, and forces companies to compete on quality rather than hype.

🔹 The Critics: Helping the Powerful, Hurting the Rest?
Not everyone is cheering. Critics like Senator Elizabeth Warren warn the law could open doors for political manipulation. For instance, the bill doesn’t directly address Trump’s $1 stablecoin, issued by a crypto firm linked to the former president. Warren claims this opens the way for anonymous buyers, foreign governments, and major corporations to bypass regulations and receive unfair political advantages.
Startups also voice concern. The bill demands stablecoins be issued through separate subsidiaries, meet strict liquidity standards, undergo constant audits, and comply with detailed marketing limits. For smaller teams or international developers, it might be too much to handle – effectively shutting them out of the U.S. market.
And if only a handful of giant firms dominate stablecoins, we could see less product diversity, fewer choices for users, and concentrated market power in just a few hands.

🔹 Balancing Safety and Innovation
The GENIUS Act is undeniably a landmark move toward regulating the U.S. stablecoin space – it’s the first time such assets will be governed under federal law. But the question remains: who will this law truly serve?
Supporters hope it will attract responsible investors and foster long-term growth. Critics fear overregulation could choke innovation, entrench the current giants, and exclude emerging players. They also warn that even if companies follow the rules on paper, bad actors could still abuse the system – with even bigger consequences next time.

📌 The GENIUS Act is a major first step in creating a regulated stablecoin framework. But whether it moves America forward, backward, or sideways depends on how it’s enforced, how it evolves, and who it ultimately empowers.

#USPolitics , #CryptoNewss , #Cryptolaw , #Regulation , #stablecoin

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Hong Kong has taken a major step toward regulating digital finance by approving a new legal framework focused on fiat-backed stablecoins. The legislation introduces stringent requirements for issuers, targeting transparency, security, and resilience against market shocks.

🔹 Licensing and Strict Oversight
Under the new law, any entity issuing fiat-referenced stablecoins (FRS)—whether based in Hong Kong or abroad—must now obtain a license from the Hong Kong Monetary Authority (HKMA), particularly if the coin is pegged to the Hong Kong dollar.
Issuers must maintain adequate reserves, establish robust redemption mechanisms, follow anti-money laundering rules, and enforce solid risk management protocols. They are also required to have contingency plans for depegging events and ensure token holders can redeem coins at par value.

🔹 Investor Protection and Innovation Support
According to Financial Secretary Christopher Hui, the legislation aims to protect retail investors while fostering sustainable innovation in virtual assets. Only licensed firms will be allowed to issue, promote, or trade stablecoins. The rules are expected to take effect later in 2025, with a transitional period for license applications.

🔹 Hong Kong Aims to Be a Global Crypto Hub
The bill's approval comes as Hong Kong intensifies efforts to position itself as a leading hub for digital finance. According to a report by migration platform Multipolitan, the city ranks as the world’s second most crypto-friendly destination. The average crypto holder in Hong Kong reportedly owns nearly $100,000 worth of digital assets.
Officials also plan to release a second policy statement on digital asset governance and open public consultations on OTC trading and custodial services.

🔹 Crime Crackdown Highlights the Need for Regulation
The need for tighter oversight was underscored by a recent crackdown on a money laundering syndicate that used crypto to launder over $15 million. Raids resulted in the seizure of over 500 bank cards and numerous financial documents.
Authorities discovered the suspects were using fake accounts to funnel illicit funds through the banking system before converting them into cryptocurrencies to mask their origin.

🔹 Conclusion: Regulation as a Competitive Advantage
By implementing a clear and strict framework for fiat-backed stablecoins, Hong Kong sends a strong signal to the global market—safe and responsible digital finance is the future. As other nations hesitate, this Asian financial powerhouse could solidify its leadership role in the evolving crypto economy.

#Stablecoins , #Regulation , #CryptoNewss , #crypto ,

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Russia is preparing to take a tough stance against using cryptocurrencies as a form of payment. Under new legislation proposed by financial authorities, individuals and businesses could face fines of up to 1 million rubles — and also lose the crypto they used.
The bill aims to reinforce the ruble as the only legal currency in the country. Any attempt to replace it with Bitcoin or other digital assets will be treated as an administrative offense and punished accordingly.

💰 Thousands in Fines – and Crypto Confiscated
According to the draft law, co-authored by the Central Bank of Russia (CBR) and the Ministry of Finance, individuals using crypto for payments will face fines ranging from 100,000 to 200,000 rubles, while companies could be fined up to 1 million rubles (around $12,000).
CBR’s legal director Andrey Medvedev confirmed the penalties will be integrated into the national code of administrative offenses. But the most painful part, he emphasized, will be the confiscation of any cryptocurrency used in a transaction.
“Seizing illegally used digital currencies will be the most painful consequence,” Medvedev said at a legal forum in St. Petersburg.

⚖️ Crypto Recognized as Property for Seizure
The Russian government previously approved legal changes allowing the confiscation of cryptocurrencies as property in criminal proceedings. These amendments are now moving to parliamentary review in the State Duma.
The CBR maintains a strict stance: crypto is not permitted as a means of payment within Russia. Officials refer to the "Law on Digital Financial Assets," which explicitly restricts such use.

🌍 Crypto Only for Foreign Trade?
Interestingly, the government is exploring crypto’s use in cross-border trade. Under pressure from Western sanctions, Russia is searching for alternatives to traditional bank transfers. In March, the central bank proposed an “experimental legal regime” (ELR) to allow selected firms and accredited investors to use crypto in international transactions.
“No crypto for domestic payments — but maybe for foreign trade,” best summarizes the CBR’s position.

CBR Governor Elvira Nabiullina also noted the bank is open to allowing crypto investments by a limited number of qualified market participants — but regular crypto payments between citizens will remain strictly prohibited.

💬 Is Russia strengthening the ruble — or simply trying to control what it can no longer ignore?

#CryptoBan , #russia , #CryptoPayments , #Regulation , #CBDC

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David Sacks, the White House’s lead advisor on cryptocurrency and artificial intelligence, has laid out a bold vision: if a new stablecoin bill is passed, the U.S. Treasury could quickly gain access to trillions of dollars through soaring demand for government bonds.

🏛️ The GENIUS Act: A Blueprint for Digital Finance
The centerpiece of the discussion is the GENIUS Act (Guiding and Establishing National Innovation for US Stablecoins), designed to create federal standards for the issuance and management of stablecoins. Under the bill, every issued token must be backed 1:1 by secure and liquid assets — typically cash or U.S. Treasury bonds.
In an interview, Sacks stated:
“With legal clarity and a regulatory framework, we could instantly unlock trillions of dollars in demand for U.S. debt. Stablecoins represent a faster, cheaper, and real-time payment system.”

✅ Strong Bipartisan Support — But Ethical Concerns Arise
The bill recently cleared a critical Senate vote with a 66-32 margin, overcoming the filibuster threshold. Fifteen Democrats joined Republicans, showing rare bipartisan consensus.
But the legislation has also sparked intense controversy, particularly around Donald Trump’s family ties to the crypto industry.

🧑‍💼 Trump Jr.'s Stablecoin and Conflict of Interest Fears
The stablecoin USD1, which meets GENIUS Act requirements, was launched by World Liberty Financial, a firm linked to Donald Trump Jr. It is backed by U.S. Treasuries and dollar reserves.
In May, Abu Dhabi-based MGX fund made the largest single investment in USD1 through Binance, the world’s largest crypto exchange.
This development has alarmed many Democrats, who warn that the bill could channel public money into the financial interests of the president and his family.
Senator Elizabeth Warren and others are calling for stronger ethics provisions to ensure public officials cannot personally benefit from the law.
Sacks expressed confidence in the bill’s passage, but refused to comment on Trump’s financial involvement in crypto.

📈 Stablecoins Soar as Bitcoin Breaks Records
Stablecoins are digital currencies pegged to real-world assets, usually the U.S. dollar. Unlike volatile cryptocurrencies like Bitcoin, they are designed to remain stable and practical for everyday use.
According to Deutsche Bank, stablecoins processed $28 trillion in transactions last year — more than Visa and Mastercard combined.
Tether remains the market leader, controlling over 60% of the sector, and is managed in the U.S. by Cantor Fitzgerald.
Meanwhile, Bitcoin recently surged past $110,000, reaching a new all-time high.

🧠 Preserving Dollar Dominance in a Digital World
Sacks believes that regulated stablecoins are the key to maintaining U.S. dollar supremacy in a rapidly digitizing global economy:
“Stablecoins are not just a tech innovation — they are a strategic tool to ensure the dollar remains dominant in the online era.”

#TRUMP , #TrumpCrypto , #Regulation , #USD1 , #CryptoNewss

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New York City Mayor Eric Adams continues to position the Big Apple at the forefront of the tech revolution. This time, he announced the creation of a new crypto advisory board, designed to attract jobs, innovation, and top global talent to the heart of the city.
During the first-ever crypto summit held at Gracie Mansion, the mayor’s official residence, Adams unveiled plans to establish a Digital Asset Advisory Board. This council will be composed of leading experts from the crypto and fintech sectors and will present concrete policy recommendations to support the industry’s growth in New York. The board’s chair is expected to be announced in the coming weeks.

🔗 "New York is Open for Crypto," Says Adams
The mayor made his ambitions clear: he wants New York to become the “crypto capital of the world.” And he’s not stopping at slogans.
At the summit, Adams emphasized that digital assets can have practical, everyday value for New Yorkers. For example, he proposed storing birth and death certificates on the blockchain, making them more accessible to families and reducing bureaucratic friction.

💬 “Using Tomorrow’s Tech to Better Serve Today’s Citizens”
Adams, who proudly calls himself a “tech mayor,” spoke about his background in programming and developing government data systems. “We want to use tomorrow’s technology to better serve today’s New Yorkers,” he said. According to him, the goal is to create a diverse, fair, and inclusive tech ecosystem accessible to all communities.
He also noted that the world is entering the era of tokenization, and New York is preparing to take an active role in this transformation.

🏙️ A Call for Crypto Companies: Choose New York
Adams issued an open invitation to crypto companies returning to the U.S. or expanding their presence, encouraging them to set up shop in New York. “We’re ready to build crypto empires,” he declared at a press conference.
His strategy includes collaborating with companies of all sizes, creating a welcoming regulatory environment, and attracting world-class talent. He also stressed that New York can provide opportunities for underbanked communities, giving everyone a fair shot in the digital economy.

⚖️ Regulation – Yes, But Without Barriers
In the past, Adams criticized the state’s BitLicense framework, calling it an obstacle to innovation. Shortly after taking office in 2022, he advocated for its removal. Today, however, his tone is more balanced — he acknowledges the importance of having clear and safe rules that protect investors and prevent abuse.

💬 Will Adams truly turn New York into the global capital of crypto? Or will the city remain a symbol of untapped potential?

#DigitalAssets , #crypto , #CryptoAdoption , #Regulation , #CryptoNewss

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#The post Square’s Potential Binance Partnership Could Shake Up Crypto Payments, Say Analysts appeared first on Coinpedia Fintech News

What’s another day in crypto without a bombshell brewing?

Rumors are swirling that Square – the payments giant behind Cash App – is in serious talks with Binance, the world’s largest crypto exchange, to launch a new global crypto payment infrastructure. Insiders hint at a partnership (or perhaps something even bigger) that could change how we move money worldwide.

If this goes through, it wouldn’t just be a big deal for Square and Binance. It could redraw the entire payments map. And yep – not everyone’s thrilled about it.

Critics and regulators are already raising eyebrows, warning of centralization risks and potential overreach in the digital payments ecosystem.

Too Big, Too Fast?

Crypto analyst Lexi Dawson from DeFi Watch says this possible Square-Binance combo “could give one alliance too much control over how crypto is transacted globally.”

“Think about it,” Dawson said. “Square has deep roots in U.S. payments, and Binance is already under a microscope for its sprawling, largely unregulated empire. Merging these spheres? It’s like putting a rocket engine on a freight train – fast, but hard to control.”

Square, which already facilitates Bitcoin purchases through Cash App, has been quietly building out its crypto development unit (formerly TBD). If it links up with Binance’s lightning-fast exchange and wallet systems, it could effectively become a one-stop crypto-payments behemoth.

What’s Really at Stake

Sources close to the matter suggest Square is looking for more than just a tech stack – it’s eyeing Binance’s global user base and liquidity pools.

“Square wants global access, and Binance has the roads already paved,” said one unnamed venture capitalist. “It’s a shortcut to global dominance.”

But that shortcut might lead straight into regulatory quicksand. Binance is still locked in legal battles across the U.S. and Europe, while Square is under pressure to stay compliant with U.S. law. A merger or strategic partnership might set off antitrust alarms, especially if U.S. users are affected.

Cash, Coin, and Compliance

Both firms have the firepower. Square’s parent company Block, Inc. is sitting on billions in assets and remains profitable, while Binance – despite crackdowns – continues to rake in fees across dozens of markets.

Analysts say Square could lean heavily on Bitcoin integration, while Binance might push for BNB and stablecoin rails – especially BUSD successors. Either way, the end product would be a payments juggernaut with real-time, low-fee, borderless potential.

A Tipping Point for Crypto Payments?

Some insiders are already speculating that this partnership – if finalized – could threaten traditional giants like PayPal, Visa, and Mastercard.

“Square and Binance could form the first true crypto-native payment network,” Dawson added. “Not just a layer on top – but a full-stack, blockchain-powered ecosystem.”

Still, with both companies carrying baggage – regulatory scrutiny, volatile leadership, and competing priorities – success is anything but guaranteed.

Crypto Twitter is ablaze, regulators are lurking, and insiders are whispering.

One thing’s for sure: if Square and Binance join forces, it won’t just make headlines – it could reshape how we spend, save, and send money forever.

#USDC #BTC #ETH

#BTC #BNB #Regulation $BTC

📉 The recently signed trade agreement between the UK and the US has sparked controversy, as experts warn it could breach key rules of the World Trade Organization (WTO) regarding non-discrimination among trading partners. The preferential terms granted to American exporters have raised eyebrows both within the EU and in the UK Parliament.

🔍 What's the issue?

London has agreed to allow 13,000 tons of US beef into the UK tariff-free and slashed a 19% duty on 1.4 billion liters of US ethanol. However, without a full-fledged Free Trade Agreement (FTA), such preferential treatment cannot be extended to a single country under WTO rules—unless a formal exemption is granted. Otherwise, the same conditions must be made available to all WTO members.

💥 Could this lead to legal challenges?

Experts say yes. The European Union is already considering demanding the same concessions, warning that the UK may be undermining the WTO’s foundational principle of non-discrimination.
UK Parliament experts have flagged a “serious error” in the deal's tariff and quota clauses that may contradict WTO commitments.
Professor Michael Gasiorek of the University of Sussex stated:
"The reported changes in tariffs and quotas are likely inconsistent with WTO rules. If validated, the UK could face legal action."

UK Under Pressure: Aligning with WTO Rules Is Crucial
📘 One potential solution may be joining the WTO’s interim arbitration system, the MPIA (Multi-Party Interim Appeal Arbitration Arrangement). This alternative dispute resolution mechanism was created after the US blocked appointments to the WTO’s main appellate body. Joining would strengthen the UK's standing in global trade law and offer a framework for defending itself in future disputes.
Trade Secretary Jonathan Reynolds and UK WTO representative Simon Manley both indicated that joining MPIA is "actively being considered."
🤝 The move coincides with the UK’s efforts to "reset" relations with the EU, highlighted by a new trade declaration reaffirming commitments to fair, open, and sustainable commerce.

What’s Next?
📌 The UK faces a critical decision: either revise the terms of the US trade deal to meet WTO standards or risk legal confrontations with the EU and other global partners. Without a valid WTO exemption, the preferential treatment for US exports could damage Britain’s reputation and market certainty.
At a time of heightened geopolitical and trade tensions, the world is watching every move. London cannot afford a misstep.

#TradeWars , #Geopolitics , #worldnews , #Cryptolaw , #Regulation

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On Sunday, the U.S. Congress moved forward with Trump’s new tax proposal, which is already sparking heated debate – not only among politicians but also in the crypto world. Dubbed the “big and beautiful” plan by President Donald Trump, the bill passed the House Budget Committee and is generating mixed reactions. Could it open the door to broader crypto adoption, or is it a cause for concern?

🔹 What Exactly Is Trump Proposing?
The key point? A 5% tax on money transfers from U.S. residents to their home countries abroad. According to the White House, the goal is to reduce government spending – but the move may also trigger unexpected consequences in the cryptocurrency space.

🔹 Migrants and Crypto: Dodging the Tax?
Mexican Ambassador to the U.S., Esteban Montezuma Barragán, has criticized the bill, calling it a form of double taxation. He warns that it could push migrants to turn to informal or unregulated money transfer channels – and this is where crypto might come in.
“People will start avoiding formal systems and look for alternative ways to send money. That’s a problem for oversight,” he said.

🔹 Coin Center: Law Might Drive Interest in Private Crypto Tools
Coin Center, a nonprofit focused on crypto policy, also voiced concerns. Its director, Peter Van Valkenburgh, said the tax law brings “complex and troubling consequences” – but it could also accelerate the use of privacy-focused tools.
“People will increasingly turn to self-hosted crypto wallets, which remain fully legal and are outside the scope of this tax proposal,” he emphasized. Centralized exchanges, on the other hand, could face increased compliance burdens.

🔹 Critics Warn of Fiscal Collapse
Not everyone is optimistic. Independent economic analyses warn that Trump’s bill could add an extra $3 to $5 trillion to the U.S. national debt by 2035. Last week, Moody’s even downgraded the U.S. credit rating, citing growing concerns over economic stability.
However, U.S. Treasury Secretary Scott Bessent dismissed the downgrade and remains confident that the bill will lead to more economic growth than debt.

🔹 Bitcoin and Trump: How Policy Moves Crypto Prices
Matthew Pines from the Bitcoin Policy Institute points out that the bill’s long-term impact on Bitcoin might be surprisingly positive. Trump’s economic decisions already influence the market – for instance, his aggressive trade stance earlier this year pushed Bitcoin below $76,000 in April.
But when Trump softened his tone and announced a trade deal with China in May, Bitcoin soared to $107,000 – showing just how tightly crypto is tied to geopolitics.

✳️ What’s Next?
Trump’s tax proposal might unintentionally become a boost for crypto – especially in the area of cross-border money transfers. Whether it becomes a true catalyst for decentralized tech adoption or just another bureaucratic hurdle remains to be seen.

#USPolitics , #TRUMP , #Regulation , #trumptariffs , #TradingCommunity

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U.S. authorities have cracked down on Jeremy Jordan-Jones, the founder of Amalgam Capital Ventures, accusing him of orchestrating a major crypto investment scam. According to the indictment, he misled investors and raised $1 million, only to spend the funds on a lavish personal lifestyle.
🕵️‍♂️ The FBI, SEC, and the Department of Justice have all taken action. Jones now faces charges including wire fraud, securities fraud, false statements to a bank, and aggravated identity theft. If convicted, he could face up to 72 years in prison.

A Startup Built on Lies
Jordan-Jones pitched his company as a revolutionary blockchain firm, supposedly developing high-end payment and cashier systems. He boasted about major partnerships and even showcased fake product demos, claiming the company was preparing to launch a native token on global exchanges. But according to the DOJ, none of it was real—there were no clients, no real partnerships, and no operational technology.
📉 While investors were left empty-handed, Jones was allegedly forging bank records to secure loans and investments he then used for personal gain.

A Landmark Case Against Crypto Fraud
Prosecutors called the case a textbook example of tech-driven deception. “Fraudsters often hide behind the promise of innovation,” said former SEC Chair Jay Clayton.
Meanwhile, the SEC has filed a parallel civil lawsuit, and the FBI has emphasized that Jones is far from an isolated case. Crypto-related scams are escalating rapidly—in 2024 alone, the FBI received over 140,000 crypto fraud complaints, amounting to $9.3 billion in reported losses.

Crypto Booms While Scams Multiply
Despite ongoing fraud cases, the digital asset market is soaring. Bitcoin recently hit a new all-time high of $111,800, while total crypto market capitalization surpassed $3.5 trillion.

#CryptoFraud , #SEC , #FBI , #CryptoNewss , #Regulation

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It sounds outrageous, but the idea is gaining traction in crypto circles: What if Dogecoin — the world’s most iconic meme coin — were used to pay off the U.S. national debt, now over $36 trillion? Just how high would DOGE need to climb for this to be remotely possible?

📉 U.S. Debt Is Soaring — Could Crypto Step In?
According to official figures, the U.S. debt has surged to $36 trillion, growing by $4 trillion in just four years. Amid this financial pressure, some analysts and commentators, like Jim Cramer, have pointed to cryptocurrencies as a potential safe haven.
Although Elon Musk stepped down from the DOGE agency, rumors about a possible return to Dogecoin advocacy remain strong. Musk still promotes DOGE, several of his companies accept it, and his influence remains substantial.

💡 Three Scenarios: How High Must DOGE Rise?
For these calculations, we assume Dogecoin’s supply remains fixed at 149 billion tokens. Let’s explore three hypothetical scenarios:
🔹 Scenario 1: DOGE Covers the Entire $36 Trillion U.S. Debt

To do so, the price of one DOGE would need to soar to $240. This would give Dogecoin a market cap larger than the entire global tech sector — a highly unrealistic prospect.
🔹 Scenario 2: DOGE Covers Half the Debt ($18 Trillion)

Here, DOGE would need to hit $120. Still massive — this equals nearly half the total U.S. GDP.
🔹 Scenario 3: DOGE Covers 1% of the Debt ($360 Billion)

This is the most plausible scenario. The DOGE price would need to reach $24, giving it a market cap of $3.6 trillion — larger than Bitcoin and close to the entire current crypto market.

🧐 Are These Price Targets Realistic?
Let’s be honest — most of these targets are highly speculative. Meme coins like Dogecoin are known for their volatility, making them poor candidates for serious fiscal policy. Furthermore, Dogecoin is inflationary, meaning its supply grows over time, which naturally weighs down long-term price gains.
Out of the three, the $24 price target seems the most realistic — yet even that would push DOGE past Bitcoin and redefine the structure of the crypto market.

📈 What Could Actually Drive DOGE Higher?
Here are four realistic drivers of price growth:
🔹 Pro-crypto regulation in the U.S. – Some lawmakers (e.g., Cynthia Lummis) are openly promoting crypto-backed solutions to public debt and economic challenges.

🔹 Institutional adoption – Several asset managers have filed for Dogecoin spot ETFs, signaling rising institutional interest in meme coins.

🔹 Elon Musk’s return to DOGE – Musk’s public support has repeatedly led to explosive DOGE price surges.

🔹 Bitcoin’s performance – DOGE often tracks Bitcoin’s price movements. If BTC climbs to $1 million, as predicted by Cathie Wood, DOGE could rally in tandem.

🔮 Bottom Line: A Long Shot — But Not Impossible
The idea of Dogecoin paying off U.S. national debt may be far-fetched, but growing institutional and political interest in crypto gives it more weight than ever. And if DOGE were ever to be given such a role, its legitimacy and valuation would skyrocket.

#DOGE , #memecoin , #CryptoNewss , #Regulation , #USGovernment

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India’s Supreme Court has sharply criticized the central government for its continued inaction on regulating cryptocurrencies, warning that the legal vacuum is fostering abuse and undermining investor protection.
Justices Surya Kant and N. Kotiswar Singh noted that the government is already taxing cryptocurrency profits, effectively acknowledging their existence — yet still failing to introduce any regulatory framework. “Banning crypto is not a solution — regulation is urgently needed,” the bench stated.

⚖️ The Court Asks: If You're Taxing Bitcoin, Why Aren’t You Regulating It?
The comments came during a hearing tied to the infamous BitConnect crypto scam, in which one of the victims allegedly kidnapped two project employees in an effort to reclaim lost funds.
The court made it clear that the old excuse — "we can’t regulate crypto because it’s international" — no longer holds water. It urged the government to stop ignoring crypto’s growing role in the global economy and take action to oversee and supervise its use.

📉 Indian Investors Left Without Protection
The timing of the court’s criticism is notable, as other major economies are progressing with clear frameworks:
🔹 The European Union is actively implementing its MiCA regulations

🔹 The U.S. Senate recently advanced legislation focused on stablecoins
Meanwhile, Indian investors continue to face uncertainty. A prime example is the July 2024 WazirX hack, where $233 million in crypto was allegedly stolen. A consumer lawsuit was dismissed by the national consumer commission — not due to lack of evidence, but because cryptocurrencies are not legally recognized as investment assets in India.

🕵️‍♂️ BitConnect Case Still Open
The long-running 2018 BitConnect fraud case remains unresolved. Victim-turned-perpetrator Shailesh Bhatt is accused of kidnapping two employees and extorting:
🔹 2,091 BTC

🔹 11,000 LTC

🔹 ₹14.5 million in cash
During the recent hearing, the court asked the Additional Solicitor General for an update on the investigation. The next session is set for May 30, and the CBI has been instructed to complete its work before then.

📈 Bitcoin Surges While India Lags Behind
As India’s courts handle legacy crypto cases, the global market pushes forward. Bitcoin is now trading above $105,000, having reached an all-time high of $109,114 on January 20, 2025.
The digital asset market overall continues to grow — on Tuesday morning, global crypto market cap rose by over 2%, reaching $3.33 trillion, with daily trading volumes hitting $126 billion.

#IndiaCrypto , #Regulation , #cryptocurrencies , #CryptoNewss , #DigitalAssets

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,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“