Warren: The Federal Reserve Chair should refuse cryptocurrency bailouts

CFTC Publishes Prediction Markets Advisory For Exchanges

CFTC issues advisory on listing prediction market event contracts. Guidance targets exchanges offering event-based derivatives. Move signals closer regulatory oversight of prediction markets. The US Commodity Futures Trading Commission has unveiled new guidance for the growing market for predict

South Korea Escalates Crypto Tax Regulation: Government Plans to Use AI to Track Wallets and Combat Tax Evasion

The Korean National Tax Service is accelerating the construction of digital asset regulatory tools to implement a cryptocurrency tax system. The plan includes developing an analytics platform to monitor trading behavior, with the project expected to go live by the end of 2023. Cryptocurrency trading gains will be included in personal income tax starting in 2027, and failure to report may result in fines. The new system will strengthen oversight of individual transactions and derivatives to ensure tax compliance.

Bitcoin Tax Policy Suddenly Sparks Controversy: Brian Armstrong and Jack Dorsey Embroiled in Congressional Lobbying Scandal

The U.S. Congress has shown divisions in discussions regarding cryptocurrency tax policy, with the small transaction tax exemption proposal gradually applying only to stablecoins, triggering dissatisfaction among Bitcoin supporters. Industry leaders have clashed publicly over this, with the core of the debate centered on small transaction exemptions. Currently, cryptocurrencies are classified as property, and transactions require capital gains tax payments, resulting in high compliance costs.

The US CFTC initiates regulatory action on prediction markets, with event contract rules potentially undergoing significant adjustments

The U.S. Commodity Futures Trading Commission (CFTC) has initiated new regulations to strengthen oversight of prediction markets and event contract trading, requiring registered platforms to comply with stricter compliance standards and inviting public comment. Although the CFTC aims to promote the development of prediction markets, its regulatory jurisdiction remains contentious, particularly regarding sports event predictions. This action emphasizes maintaining market compliance and warns against violations such as insider trading, with potential further clarification of legal boundaries in the future.

Bitcoin Regulatory Controversy Escalates: BPI Criticizes Basel Rules for Treating BTC as "Toxic Asset"

The Bitcoin Policy Institute (BPI) opposes the Basel Committee's high risk weighting standards set for Bitcoin, arguing that this will restrict banks from participating in crypto asset businesses. The BPI is calling on U.S. regulators to reassess Bitcoin's risk classification, pointing out that the current framework treats it as a "toxic asset," significantly increasing the cost for banks to hold Bitcoin. This issue could impact traditional financial institutions' strategies in the digital asset space.

Crypto Mom: SEC Tokenization Exemption Scope Narrower, Protecting Investors is the Bottom Line

The U.S. Securities and Exchange Commission (SEC) Commissioner Hester Peirce stated that the SEC will design a narrower innovation exemption framework for tokenized securities, prioritizing investor protection. The IAC opposed broad exemptions and advocated for a case-by-case reform approach, while acknowledging the potential benefits of tokenization, such as improving settlement efficiency and promoting transparency. SEC Chair Paul Atkins is expected to consider the exemption soon in order to systematically establish long-term regulatory standards.