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The U.S. Senate introduced a bill to repeal the "Broker DeFi Rule," which requires decentralized finance platforms to report user data to the IRS, drawing criticism from the industry
On March 4, the U.S. Senate introduced a bill to repeal the Congressional Review Act (CRA) aimed at reversing the "Broker DeFi Rule" adopted under the Biden administration. This rule required decentralized finance (DeFi) platforms to report user data to the U.S. Internal Revenue Service (IRS), raising concerns about privacy and adding additional burdens on the industry. Critics argue that the rule incorrectly treats DeFi platforms as intermediaries, which could lead to data leaks and the relocation of businesses abroad. With support for repeal from crypto experts and political figures, the likelihood of the repeal is high.
The US has begun returning Chinese cryptocurrency mining machines after their confiscation due to security regulations and trade sanctions against China
The US authorities have begun returning Chinese cryptocurrency mining machines seized as part of efforts to enforce regulations related to technology security. The confiscation, initiated by Customs at the request of the Federal Communications Commission (FCC), affected devices from manufacturers such as Bitmain, MicroBT, and Canaan. These measures are part of a broader campaign against Chinese technology in sensitive sectors, which has intensified amid trade conflicts. The seizure of up to 10,000 machines created difficulties for American miners, who need to update their equipment to remain competitive.
Tether froze $27 million USDT on the Russian exchange Garantex, leading to the suspension of all operations and withdrawals in response to international sanctions
Tether froze $27 million USDT on the Russian cryptocurrency exchange Garantex, which led to the suspension of its operations. The exchange announced a temporary halt of all services, including withdrawals, and technical maintenance on the website. This decision was a result of EU sanctions imposed on Garantex in February 2025 as part of measures against Russia. The exchange warned users about the potential threat to all USDT in Russian wallets. Earlier, Garantex was sanctioned by the US in 2022, which also affected its operations.
The Ministry of Finance of Russia launches an experimental cryptocurrency initiative for superqualified investors within the framework of a new legal system
The Ministry of Finance of Russia has announced the launch of an experimental initiative on cryptocurrencies in collaboration with the Central Bank. As part of the project, an Experimental Legal System (ELS) will be created, in which only "superqualified investors" will be able to participate. This category of investors has not yet been defined, but criteria for its formation are being developed. The Ministry hopes to launch the project in the near future upon fulfilling three conditions: the creation of the system, the definition of investors, and the development of risk control measures.
The court hearing in Do Kwon's case has been postponed until April 2025 due to the need to analyze 4 terabytes of new evidence in cryptocurrency fraud
The Dubai regulatory organization VARA has issued a VASP license to the platform Mantra, opening new opportunities for DeFi services and the tokenization of real assets in the region
Sygnum Bank expands cryptocurrency custody services by integrating Deribit to enhance investor security and reduce the risks of storing assets on exchanges
Brendan Gunn is accused of cryptocurrency investment fraud amounting to 181,000 Australian dollars, and his trial is set for April 2025
The SEC drops the lawsuit against Cumberland DRW, accused of unregistered trading in cryptocurrencies since 2018, totaling over $2 billion
Lukashenko tasked with modernizing Belarus's energy infrastructure and considering the use of surplus electricity for cryptocurrency mining
SBI VC Trade will be the first exchange in Japan to offer the stablecoin USDC, approved by the Japanese Financial Services Agency for use in the country
The IMF demands that El Salvador stop purchasing Bitcoin by the government sector as part of a $1.4 billion agreement to reduce financial risks and regulate cryptocurrency
Australia does not plan to create a strategic cryptocurrency reserve, despite the USA's initiative to include XRP, Bitcoin, and others in the national financial reserve
The Australian government does not plan to create a strategic cryptocurrency reserve, unlike the USA, where the Trump administration announced the inclusion of cryptocurrencies such as XRP, Solana, Cardano, Bitcoin, and Ether in the national reserve. Australian authorities are focused on regulating crypto platforms, developing legislation for digital assets. Representatives of the crypto industry note that despite the attractiveness of the idea, the high volatility of cryptocurrencies creates risks to stability, which makes such an initiative less likely.
Turkish bank BankPozitif is launching a cryptocurrency custody service in partnership with Taurus, having received a license from the Turkish Securities and Exchange Commission for the safe custody of digital assets
Turkish bank BankPozitif, in collaboration with the Swiss platform Taurus, is launching a cryptocurrency custody service, which will be available from June 2025. The service will support major cryptocurrencies such as Bitcoin, Ethereum, Tether, XRP, and Solana. The bank has received a temporary license for the crypto service from the Turkish Securities and Exchange Commission (CMB), and its subsidiary PozitifKripto has also received the corresponding license. This step strengthens Turkey’s position in the cryptocurrency sector, where banks such as Garanti BBVA and Akbank are already operating.
The Prime Minister of Vietnam has ordered the development of a legal framework for cryptocurrencies to create a legal basis for digital assets and support their development in the country
The Prime Minister of Vietnam, Pham Minh Chinh, has ordered the development of a legal framework for cryptocurrencies by the end of March to form the regulatory basis for digital assets. The Ministry of Finance will be responsible for creating this framework, while the State Bank will oversee interest rates and exchange rates. Vietnam ranks fifth in terms of cryptocurrency adoption, with 17 million cryptocurrency asset owners in the country. However, the lack of clear regulations for cryptocurrencies forces companies to migrate to other countries.
Yuga Labs announced the completion of the SEC investigation, confirming that NFTs are not securities and supporting the development of the crypto space and creators' rights
Yuga Labs announced the completion of the SEC investigation, marking a significant victory for the NFT ecosystem. The regulator closed the case against the company after more than three years of investigation, emphasizing that NFTs are not securities. This event positively impacts the development of the crypto space and supports creators' rights. Additionally, the SEC has dropped investigations and lawsuits against other crypto companies, including Uniswap, Robinhood, and OpenSea, reflecting a more crypto-friendly approach from the new US administration.
Best news of the last 10 days
China will introduce retaliatory duties on goods from the USA, raising tariffs up to 15 percent on agricultural products, which will affect American producers and consumers
Tether appoints a new Chief Financial Officer, Simon McWilliams, and seeks a full independent audit to increase transparency and regulatory oversight
Binance will remove nine stablecoins, including USDT and DAI, from March 31 in Europe to comply with the MiCA regulation, while support for storing and withdrawing tokens will remain
Congressman Brandon Gill proposed a bill to replace Benjamin Franklin with Donald Trump on the $100 bill to recognize his contributions to America
The SEC dropped the lawsuit against Kraken Exchange, which was accused of illegal activity as an unregistered exchange, marking an important step for the cryptocurrency industry
Kraken Exchange announced that the SEC agreed to drop the lawsuit accusing the company of operating illegally as an unregistered exchange. In the statement, Kraken emphasized that this decision is important for the cryptocurrency industry and ends a "politically motivated campaign" that had limited innovation. The exchange noted that the dismissal of the lawsuit does not include an admission of guilt or fines, and this decision is final. The SEC had accused Kraken of violating the law since 2018, but the company continued to insist that cryptocurrencies are not subject to regulation as securities.
China Asset Management launches a tokenized money market fund on Ethereum worth $107 million, providing new opportunities for cryptocurrency investors
China Asset Management, the largest asset manager in Asia, has launched a tokenized money market fund worth $107 million on the Ethereum blockchain. Ethereum was chosen due to its capabilities for decentralized finance (DeFi), ensuring the efficiency, security, and transparency of the fund’s operations. This move allows investors to buy and trade shares of the digital fund without intermediaries, speeding up transactions and reducing costs. It also highlights the growing interest of institutional investors in cryptocurrency financial products.
Fraudsters stole 1.2 million dollars from Kent residents using fake police reports to obtain cryptocurrency wallet data and access funds
Fraudsters stole more than 1.2 million dollars from residents of Kent by using personal data obtained through a data breach. They created fake reports from Action Fraud, impersonating the police, and convinced victims to share their cryptocurrency wallet recovery phrases. After gaining access to the wallets, the fraudsters stole funds and transferred them to avoid reimbursement. The police urge people not to disclose personal information over the phone and to be cautious when dealing with suspicious individuals, especially regarding financial matters.
SWIFT announced its support for Hedera for global transactions, paving the way for large-scale adoption and growth of $HBAR in international markets
SWIFT, a key platform for international finance, has announced its support for Hedera technology for global transactions. After successful tests through Proof of Concept (PoC), Hedera has achieved a Technology Readiness Level (TRL) of 9, confirming its ability to handle mission-critical tasks. In the coming months, real trials will begin with banks in North America, Europe, and Asia. This partnership paves the way for Hedera's large-scale adoption and increases the growth prospects of the $HBAR token in international markets.