Flash News

TREE NEWS update: Pakistan has mandated that all crypto firms serving Pakistani users since March must apply for clearance by September 5, followed by local incorporation. This regulatory move aims to bring crypto operations under official oversight.

TREE NEWS reports: Blockchain investigator ZachXBT’s probe led to the freezing of 93,000 USDT allegedly linked to two violent home invasion robberies in France. This highlights the use of crypto in crime and the role of on-chain sleuths in assisting law enforcement.

TREE NEWS update: The European Central Bank’s Piero Cipollone reaffirmed that the Eurosystem would not identify digital euro users, addressing privacy concerns surrounding central bank digital currencies worldwide. The statement comes as CBDCs face increasing scrutiny over data protection and surveillance risks.

TREE NEWS update: China’s Payment and Clearing Association has released a self-regulatory convention for AI agent payments, supporting the exploration of Know Your Agent (KYA) mechanisms. This move aims to establish guidelines for the integration of AI agents into payment systems, enhancing security and compliance.

TREE NEWS update: Shanghai has registered one new generative AI service for filing, bringing the total to 188. This reflects the city’s ongoing regulatory oversight and support for AI development.

TREE NEWS reports: Germany has expanded its lead in EU MiCA authorizations, now hosting 79 crypto asset service providers, ahead of France and the Netherlands. The latest update to the EU register added six banks, solidifying Germany’s position as the top jurisdiction for crypto firms under the MiCA framework.

TREE NEWS update: Crypto exchange BitMart has hired White & Case and floated a phased restart alongside creditor distributions, days before its final trading day. Users report blocked withdrawals, signaling potential financial distress.

TREE NEWS reports: Hong Kong banks are scrutinizing inactive accounts held by mainland Chinese residents, with declarations of fund sources becoming critical. This move reflects heightened compliance checks amid cross-border financial flows.

TREE NEWS reports: South Korea’s highest financial regulator announced plans to expedite crypto legislation, aiming to introduce the Digital Asset Basic Act this fall. This move is expected to provide a comprehensive legal framework for the country’s digital asset market.

TREE NEWS reports: China’s National Development and Reform Commission plans to revise its outbound investment measures, introducing a filing system for individual overseas investment. This could impact capital flows, potentially affecting crypto and RWA investments by Chinese residents.

TREE NEWS reports: Several international banks and regulatory bodies are participating in a pilot program for quantum-resistant cryptocurrency transfers. The initiative aims to safeguard digital assets against potential threats from quantum computing. This marks a significant step towards future-proofing the financial system.

TREE NEWS reports: Responsible Fintech Institute and Safeheron launched a quantum-resistant digital asset wallet and on-chain transfer pilot on NEAR testnet, involving banks and regulators from Europe, Middle East, and Asia. Participants include Abu Dhabi Global Market, Bhutan’s Gelephu Financial Services Office, Malta’s FSA, Bison Bank, and DK Bank. The pilot aims to test wallet generation and transfers in a shared environment, with a whitepaper and open-sourcing planned.

TREE NEWS update: Banks and regulators from Abu Dhabi, Bhutan, and Malta are participating in a pilot to test post-quantum wallets and on-chain transfers. This initiative aims to prepare the financial system for quantum computing threats.

TREE NEWS reports: A UK court has ordered the closure of Key Coin Assets, a crypto firm, after finding that it caused losses exceeding £300,000 for nine investors. The action highlights regulatory scrutiny in the crypto sector.

TREE NEWS reports: Pakistan has launched a licensing portal for virtual asset service providers, requiring existing firms to apply for a No Objection Certificate by September 5 or cease operations. This move establishes a formal regulatory framework for crypto in the country.

TREE NEWS update: Pakistan’s regulatory body has ordered all cryptocurrency platforms to apply for a regulatory license by September 5 or face shutdown. This move aims to bring crypto operations under official oversight, potentially impacting the local crypto market.

TREE NEWS update: The Central Bank of Russia has relaxed the criteria for qualified investors, aiming to expand their cryptocurrency trading limits. The move is part of broader efforts to integrate digital assets into the country’s financial system. This policy change could increase participation in crypto markets among eligible Russian investors.