Sber plans to add USDT and Ether to crypto-backed loans Sber, Russia’s largest bank, plans to accept Tether’s USDT and Ether as collateral alongside Bitcoin for crypto-backed lending, deputy chairman Anatoly Popov said. The bank will adapt existing products as Russia’s new crypto law takes effect, adding the assets after the Bank of Russia permits them for public trading. Core provisions of the law start on Sept. 1.
HMRC breaks out UK crypto gains for first time HM Revenue and Customs said 17,600 people declared £1.38 billion in taxable crypto gains in 2024-25, the first year crypto disposals were reported in a separate Self Assessment box. Just 240 filers who each made more than £1 million accounted for £717 million of the total, while 65% of taxpayers reported gains under £25,000. HMRC also sent 81,000 “nudge” letters to suspected under-payers over the past year and is due to start automatically receiving UK resident data from overseas exchanges from May 31, 2027.
California legislature passes bill to bar officials from issuing meme coins California lawmakers have approved AB 2409, a bill that would ban state and local public officials from issuing meme coins and, from Jan. 1, 2027, stop digital asset platforms from offering California residents official-linked meme coins issued on or after that date. The measure now goes to Gov. Gavin Newsom, with enforcement through civil actions led by the state attorney general and local prosecutors.
Bank of Russia flags 2,600 crypto wallets over suspected illegal activity The Bank of Russia added 2,600 crypto wallets to a monitoring database used by banks and law enforcement after more than 1 billion rubles flowed into the addresses in H1 2026. The regulator said the wallets were linked to suspected illegal financial activity, while banks took restrictive measures against more than 500 payment details in the same period.
SEC proposes ICO exemption with raises up to $75 million The US SEC has proposed an exemptive framework that would let qualifying crypto projects sell tokens publicly without full securities registration, with fundraising caps of $5 million a year for early-stage issuers and $75 million for larger ones. The plan would also let the investment-contract relationship tied to a token sale end once an issuer finishes or permanently stops the promised development work, potentially easing regulatory uncertainty even as demand for token fundraising has cooled.
ACT proposes crypto tax breaks in New Zealand election pledge New Zealand’s ACT party has proposed waiving capital gains tax on qualified crypto assets held for more than a year and exempting low-value personal purchases made with crypto. The campaign pledge would apply to individual retail investors, while professional traders, businesses, and assets held for less than a year would stay under existing tax rules, alongside plans for stablecoin, tokenization, and startup sandbox reforms.
Venezuela arrests three in Maracaibo over alleged Binance P2P USDT arbitrage Venezuela’s Bolivarian National Police arrested three men in Maracaibo last week for allegedly buying US dollars at the official BCV rate through regulated channels, converting them to USDT on Binance, and reselling via Binance P2P at the higher parallel rate. Police identified the suspects as Adrián Jesús Gómez, José Ángel Hernández, and Guillermo José Roldán, and said phones, a laptop and a motorcycle were seized before the case was handed to prosecutors.
UK reports 240 crypto millionaires in 2024-25 tax year HMRC said 240 people in the UK each reported more than $1.4 million in crypto-related capital gains in the 2024-25 tax year, with their combined gains reaching about $975 million. Overall, around 17,600 individuals declared $1.9 billion in digital asset gains and $18.7 billion in disposals, as the government steps up crypto tax enforcement and prepares new reporting rules for service providers under the OECD framework.
SEC sends crypto custody rule to White House review The SEC sent a planned crypto custody overhaul to the Office of Management and Budget on Aug. 25, starting White House review before any proposal can be published. The draft would cover investment advisers and investment companies holding digital assets for clients, while the SEC’s agenda tentatively points to October 2026 for a proposal; current custody rules remain unchanged for now.
CFTC warns on crypto ATM scams after FBI logged $388M in 2025 losses The CFTC warned U.S. consumers on Aug. 26 that scammers are using crypto ATMs, apps, gift cards and couriers to extract payments that are hard to reverse, after FBI data showed more than 13,400 cryptocurrency kiosk complaints and over $388 million in reported 2025 losses. More than half of kiosk complaints involved people over 50, who accounted for $302 million lost.
UK to give Bank of England innovation mandate for payments The UK Treasury plans to add “promoting innovation” as a secondary objective to the Bank of England’s regulation of payment systems, while keeping financial stability as its primary goal. The move is aimed at boosting the UK’s competitiveness in digital finance, with tokenization and distributed ledger technology highlighted as priority areas, and comes as the BoE softens its stance on stablecoin rules.
SEC sends crypto custody rule overhaul to White House for review The SEC has sent proposed changes to crypto custody rules for investment advisers and investment companies to the White House Office of Management and Budget, which received the package on Aug. 25. The overhaul would update how client digital assets can be held under existing SEC custody rules, with full details to come only after executive review, a commission vote, and public comment.
South Korea lawmakers move toward hearing on Digital Asset Framework Act National Assembly Political Affairs Committee chair Yoo Dong-soo said Aug. 26 that senior members from the two main parties should work out plans for a public hearing on the Digital Asset Framework Act, after Democratic Party lawmaker Min Byung-duk urged faster action on stablecoin and digital finance legislation. The government’s draft could reach the Assembly in September, and Yoo said he plans to submit a new framework bill once he receives it.
US Treasury widens sanctions risk for Iran-linked crypto activity The US Treasury on Aug. 24 expanded sanctions exposure across Iran’s digital asset sector under Operation Economic Outcast and sanctioned nearly 60 entities, individuals and vessels tied to Iranian nuclear, missile, cyber and oil networks. It also targeted UAE-based broker Ivan Obukhov, accused of processing more than $100 million in crypto since 2023 for oil sales supporting the IRGC-Qods Force and its proxies.
South Korea reviews bill to let crypto exchanges partner with multiple banks South Korea’s National Assembly is set to take up an amendment that would let crypto exchanges obtain real-name deposit and withdrawal accounts from multiple banks, potentially replacing the current de facto one-exchange, one-bank model. The Financial Services Commission urged caution, saying the impact on anti-money-laundering and market competition is not yet clear, and the bill now goes to a subcommittee for detailed review.
Thailand SEC opens consultation on spot Bitcoin and Ethereum ETF rules Thailand’s SEC has launched public consultations on draft rules for bitcoin and ethereum ETFs, outlining that any fund must be run by a licensed asset manager, follow ETF and digital-asset fund rules, and trade only on the Stock Exchange of Thailand. BTC and ETH funds would be eligible first, while wrapped-style funds are barred at launch and foreign custody solutions may be considered under amended criteria.
SEC proposes crypto offering rule with $5M and $75M exemptions The SEC has proposed Regulation Crypto Assets, a 402-page framework for crypto asset investment contracts that would create two Securities Act exemptions: up to $5 million over four years for startups and up to $75 million in a rolling 12 months for larger fundraising, with a conditional safe harbor that could let qualifying tokens shed the “investment contract” label once issuer managerial efforts permanently cease. Comments will be open for 60 days after publication.
Philippine groups launch push for House to pass CADENA budget bill Civil society and Philippine web3 groups have launched a joint petition urging the House of Representatives to pass the CADENA Act, which would create a tamper-proof digital ledger to track all national budget allocations, procurements and disbursements. The bill has cleared the Senate 17-0 and was named a priority by President Ferdinand Marcos Jr. under LEDAC, but remains stalled in the House during budget season.
US Treasury proposes stablecoin licensing timeline under GENIUS Act The US Treasury on August 18 proposed rules under Section 3 of the GENIUS Act that would require payment stablecoin issuers to hold a federal or state license from January 18, 2027. The proposal, published August 21, would also bar digital asset service providers from offering unlicensed stablecoins to US persons from July 18, 2028. Comments are open until October 19, 2026, and the rule is not yet law.
US opens Iran sanctions campaign, adds crypto sector but names no new firms The US launched “Operation Economic Outcast,” expanding Iran sanctions to five sectors — including digital assets — in what Treasury says is the first time any country’s crypto sector has been designated. Treasury Secretary Scott Bessent warned any entity laundering money for Iran could be cut off from the US dollar system, but no firm was designated under the new sectors on Monday.
Hyperliquid urges SEC and CFTC to classify equity perps as security futures Hyperliquid Policy Center asked the SEC and CFTC to let qualifying cash-settled equity perpetuals be listed in the U.S. as security futures, putting them under the agencies’ existing joint framework. The Aug. 24 filing says HIP-3 markets have already processed more than $480 billion in notional volume in 10 months, and argues products with the same futures-like structure should be classified consistently across asset classes.
ECB says digital euro payments will not be visible to the central bank ECB Executive Board member Piero Cipollone said the Eurosystem will not be able to identify who sends or receives digital euro payments, pushing back on surveillance concerns around central bank digital currencies. He said only banks involved in a transaction could identify the parties for anti-money laundering checks, while offline payment data would be visible only to the payer and recipient. The ECB says the project could be launched as early as 2029 if legislation passes and technical work is completed.
Germany widens MiCA lead with six new crypto licenses ESMA’s latest MiCA register added six German cooperative banks, lifting Germany’s total number of authorized crypto-asset service providers to 79, more than double France’s 35 and ahead of the Netherlands’ 29. The EU-wide CASP count rose to 331, while ESMA’s token registers and list of non-compliant entities were unchanged.
South Korea speeds up work on Digital Asset Framework Act South Korea’s Financial Services Commission will accelerate consultations on the Digital Asset Framework Act after Chairman Kim Byoung-hwan told lawmakers on Aug. 24 he would “do his best” to meet a fall timetable for the bill. The second-phase crypto law is expected to set rules for stablecoin issuance, VASPs, disclosures and internal controls, as lawmakers push to avoid delays into 2027.
Laser Digital wins Japan’s first new crypto exchange license in four years Nomura-backed Laser Digital said on Aug. 21 that its Japan unit was registered as a Crypto Asset Exchange Service Provider under the Financial Services Agency framework, the first new approval of its kind in four years. The company said it will initially provide liquidity services to domestic virtual asset service providers and later plans to expand into direct digital asset trading for institutional investors.
Pakistan opens crypto licensing portal, sets Sept. 5 deadline for existing firms Pakistan’s Virtual Assets Regulatory Authority has opened its licensing portal and told existing virtual asset service providers to apply for a no-objection certificate by Sept. 5 or stop operating. Firms that keep operating after the deadline without applying will be committing an offense under the new framework, which sets rules for exchanges, custody, lending, token issuance and mining-related services, plus asset segregation and AML/CFT controls.
HMRC sends 81,000 crypto tax warning letters in UK crackdown HM Revenue and Customs sent more than 81,000 warning letters to UK crypto holders in the 2025-2026 tax year over suspected unpaid tax, nearly triple the 27,714 sent in 2024, the BBC reported from a freedom of information request. HMRC linked much of the gap to gains from the 2022-2025 bull run and warned that unpaid tax can trigger penalties of up to 100% plus interest.
BPI urges FinCEN to extend stablecoin ID checks to secondary markets The Bank Policy Institute, which represents major U.S. banks, asked FinCEN to apply Customer Identification Program rules not just to permitted payment stablecoin issuers but also to exchanges and other platforms with direct retail customer relationships. BPI said much illicit stablecoin activity happens in secondary markets; FinCEN’s proposal notes broader data collection there would be “practically challenging,” especially on pseudonymous blockchain trading and decentralized venues.
HMRC sends 81,000 crypto tax warning letters as UK scrutiny ramps up The UK tax agency sent 81,000 warning letters to crypto investors over suspected unpaid taxes, up 25% from a year earlier, offering recipients a chance to disclose liabilities before a formal investigation. HMRC’s reach is set to widen further in 2027, when UK and overseas crypto platforms begin reporting user and transaction data under the Cryptoasset Reporting Framework.
Grayscale says SEC fundraising proposal could favor ETH, SOL and BNB Grayscale Head of Research Zach Pandl said the SEC’s proposed Regulation Crypto Assets could boost Ethereum, Solana and BNB Chain by making token-based fundraising easier, potentially bringing more U.S. issuers and investors onchain. The Aug. 18 proposal would create two exempt offering paths: up to $5 million over four years or up to $75 million in 12 months with added disclosure and reporting requirements.
South Korea FSS rolls out AI system for real-time crypto market surveillance South Korea’s Financial Supervisory Service has deployed an AI-powered system to monitor crypto trading across exchanges in real time, targeting price manipulation, wash trading and coordinated group trades. The platform uses generative AI and machine learning to flag tactics like “racehorse” and “cage” schemes, scan digital channels for front-running or misinformation, and lets investigators request detailed exchange trade data before any enforcement action.
Binance staff briefly detained in UAE over bank account inquiries UAE police detained Binance employees at airports this summer and held one overnight in a Sharjah police station after finding their names on a corporate bank account used to process customer deposits and withdrawals, the New York Times reported. Binance said the staff were “promptly cleared and released” after “inquiries relating to third-party fund flows” and were not targets of the probe.
South Korea budget office urges softer crypto tax rules before January launch South Korea’s National Assembly Budget Office proposed letting investors carry forward digital-asset losses for up to five years and raising the basic deduction from 2.5 million won to at least 6 million won before taxation starts in January. The report also proposed taxing staking and lending rewards as 22% rental income, exempting hard-fork tokens at issuance, and keeping airdrops taxed as other income, while the National Tax Service plans talks toward an administrative notice in October.
South Korean bill would let FIU directly probe unregistered crypto firms A group of South Korean lawmakers led by People Power Party’s Eom Tae-young has introduced a bill to expand the Financial Intelligence Unit’s powers over unregistered crypto businesses. The proposal would let anyone report suspected violations, allow the FIU to investigate and analyze cases, file complaints and request criminal probes directly — a shift from the current system, where the agency mainly refers cases to police; Yonhap said 23 of 25 such cases were suspended between August 2022 and August 2025.
Hungary repeals strict crypto rules to align with EU MiCA Hungary’s parliament has scrapped rules that required crypto-asset conversions to pass a validation check to be legal, and removed related criminal offenses from the penal code that carried penalties of up to eight years in prison. The repeal passed on July 31 and takes effect on Aug. 7, dropping national requirements that conflicted with the EU’s MiCA framework.
BitGo Korea wins South Korea VASP registration BitGo Korea has secured Virtual Asset Service Provider registration in South Korea, allowing it to offer crypto custody, management and transfer services to institutional clients in one of Asia’s toughest regulated markets. The approval, accepted by the Korea Financial Intelligence Unit, came two days before tighter VASP rules took effect; BitGo said its local venture is backed by Hana Financial Group, with about 25%, and SK Telecom, with about 10%.
CFTC orders backup crypto market rules if Clarity Act stalls CFTC Chairman Michael Selig said he has ordered staff to prepare a fallback regulatory framework for crypto markets if Congress does not advance the Clarity Act, signaling the agency is ready to use existing powers instead of waiting for new law. The plan could create a federal market structure for crypto assets, let exchanges register as a specialized “crypto asset market” DCM, and open a path for some onchain finance protocols to operate legally in the US.
South Korea’s FSS deploys AI system for real-time crypto market surveillance South Korea’s Financial Supervisory Service has built an AI-based surveillance system to detect unfair digital-asset trading in real time, including price manipulation, wash trades and linked accounts. The platform scans exchange data, news, online chats, videos and posts, uses generative AI and machine learning to flag suspicious activity and help decide whether to open investigations, and the FSS plans to add fund-flow analysis and on-chain tracking.
Injective affiliate wins SEC transfer agent registration Injective said its affiliate Injective Institutional Services has been registered with the SEC as a transfer agent, giving the network a regulated path to maintain ownership records, transfers, distributions and corporate actions for tokenized securities. The move expands Injective’s tokenization push and could help it attract institutions seeking compliant digital securities infrastructure.
CFTC settles with former FTX executives Ellison and Wang The CFTC barred former FTX executives Caroline Ellison and Gary Wang from trading for five years and restricted their ability to work with the agency under settlement deals tied to the exchange’s 2022 collapse. Ellison is banned from CFTC registration for 10 years and Wang for eight years, while the regulator sought no fines or profit repayment, citing their cooperation.
Gallego says CLARITY Act hinges on White House deal over crypto ethics Sen. Ruben Gallego said the Senate crypto market structure bill can still pass, but only if negotiators reach a White House deal on ethics rules before a Sept. 15 procedural vote. Trump is reviewing a Gallego-Thom Tillis compromise that would bar public officials and their spouses from issuing or sponsoring digital assets and let state attorneys general enforce it — a tougher approach than the July version Democrats said was too weak.
Vietnam approves 5 firms for first regulated crypto exchange pilot Vietnam has cleared five companies to join a five-year pilot for its first regulated crypto exchanges, with the first platform potentially launching in Q3 2026. The push comes as Vietnam remains on the FATF grey list after missing its May 2025 action-plan deadline; by end-June it had completed just 3 of 17 revised measures. Licensed firms will need at least 10 trillion dong ($381.8 million) in paid-up capital.
X suspends crypto account cluster over alleged $250K revenue-sharing scheme X suspended a group of high-volume bitcoin and crypto accounts after Nikita Bier said one person appeared to be running more than 10 profiles that reposted other creators’ content and pulled more than $250,000 from the platform’s revenue-sharing program over the past two years. Accounts named in the cluster include @Vivek4real__, @Bitcoin_Teddy, @BitcoinSapiens, @Kalshibacktest, @polybacktest and @saylordocs, and Bier said the case was being referred to law enforcement.
OCC targets November to finalize GENIUS Act stablecoin rules The Office of the Comptroller of the Currency is aiming to complete its GENIUS Act regulations by November after receiving industry feedback on its proposed stablecoin framework, Eleanor Terrett reported on Aug. 19. The rules are set to cover reserves, redemptions, supervision, custody and issuer applications, but the 120-day countdown to implementation would still depend on other regulators issuing their final rules.
ASIC shuts down 3,106 crypto investment scams in FY26 Australia’s securities regulator said it removed 3,106 cryptocurrency investment platforms in FY26, part of more than 19,400 online scams taken down overall, up 182% year over year. ASIC warned that overseas syndicates are increasingly using generative AI, deepfake endorsements and fake reviews to steer victims into bogus crypto platforms, with impersonations of public figures linked to more than $7.4 million in reported losses.
White House signals confidence in CLARITY Act ahead of Sept. 15 Senate vote White House digital assets adviser Patrick Witt said he is “genuinely optimistic and bullish” that the CLARITY Act will advance when the Senate returns in mid-September, with a Sept. 15 cloture vote set to determine whether the US crypto market structure bill moves to formal consideration. Its path still hinges on talks over stablecoin rewards and a conflict-of-interest provision tied to President Donald Trump’s crypto business.
CFTC proposes broader exemptions for private fund advisers The CFTC has opened a 45-day comment period on rule changes that would let some SEC-registered investment advisers avoid separate commodity pool operator registration, extend related relief to certain commodity trading advisers, and raise the small-pool exemption cap from $400,000 to $800,000. The agency said the changes are meant to cut duplicative compliance while keeping existing SEC oversight and anti-fraud rules in place.
SEC unveils first proposed permanent crypto rule The U.S. Securities and Exchange Commission has issued a proposed “Regulation Crypto Assets,” its first major bid to create a permanent rule for digital assets, after canceling a planned vote on the measure days earlier. The proposal sets two exemption tracks for crypto securities offerings—up to $5 million over four years or up to $75 million in one year—and opens a 60-day public comment period before the agency drafts a final rule.
Hyperliquid and Douro urge SEC to scrap Rule 611 and clarify onchain execution The Hyperliquid Policy Center and Douro Labs filed a joint comment letter on Aug. 17 backing the SEC’s proposed repeal of Regulation NMS Rule 611 “without qualification,” while asking the agency and FINRA for clearer best-execution guidance for onchain markets. They said current rules do not fully address AMMs, network fees, atomic settlement, transaction ordering risks, or cases where the NBBO does not reflect onchain conditions.
South Korea orders block on Polymarket access South Korea’s Korea Communications Standards Commission approved a corrective order to block domestic access to Polymarket after concluding the prediction-market platform effectively provides a gambling environment for local users. The regulator said Polymarket’s market structure, trading rules, and crypto deposit, withdrawal, and settlement systems could aid gambling and encourage speculative behavior under the Criminal Act and National Sports Promotion Act.
