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The U.S. Securities and Exchange Commission (SEC) has filed charges against seven different entities for a wide-ranging cryptocurrency fraud targeting retail investors. The SEC alleges that these entities collected over $14 million from investors through an organized investment scam conducted via social media and messaging applications.Three cryptocurrency platforms and four investment “clubs” are involved.The lawsuit, filed Monday in Colorado District Court, alleges that three so-called cryptocurrency trading platforms and four investment clubs acted together to implement a scheme described as “investment trust fraud.” According to the SEC, this scheme aimed to gain the trust of investors, particularly through social media advertisements and closed messaging groups. The so-called trading platforms named in the lawsuit are Morocoin Tech Corp., Berge Blockchain Technology Co., Ltd., and Cirkor Inc.; while the investment clubs are AI Wealth Inc., Lane Wealth Inc., AI Investment Education Foundation Ltd., and Zenith Asset Tech Foundation. The regulator argued that these structures did not actually engage in any legitimate activity. According to the SEC, the fraudulent activity took place between January 2024 and January 2025. In the first phase of the process, users were invited to groups under the name "investment club" through advertisements on popular social media platforms. These groups were primarily managed via WhatsApp. Group administrators established trust with participants through one-on-one and group chats, presenting themselves as financial experts or professional investment advisors. In these chat rooms, investors encountered investment advice that, according to the SEC, gave the impression of being AI-powered. The aim of this content was to increase the clubs' credibility by creating the perception of regular and stable earnings. Investors were then asked to open accounts on platforms called Morocoin, Berge, and Cirkor and transfer funds to these accounts. However, according to the regulator, these platforms were entirely fake, and no real trading transactions took place. It was also alleged that the platforms' claims of offering state-licensed and legal cryptocurrency trading services were untrue. In the later stages of the fraud, investors were offered fake "security tokens." The SEC stated that both these tokens and the companies allegedly issuing them were fictitious. When investors tried to withdraw their money, they encountered a new obstacle. Allegedly, the suspects further increased the losses by demanding additional and upfront fees for withdrawals. The SEC announced that at least $14 million in total was misused through these methods, and that the funds were channeled through bank accounts and cryptocurrency wallets abroad. Laura D’Allaird, Head of the SEC's Cyber and Emerging Technologies Division, emphasized in a statement that this case highlights a widespread fraud pattern targeting retail investors. On the same day, the agency also issued an investor warning, reminding investors to be cautious about investment offers presented through social media and group chats. The SEC recommended that investors verify the offers and individuals they receive through Investor.gov.
The Trading and Markets Division of the U.S. Securities and Exchange Commission (SEC) has released new guidance aimed at reducing uncertainty regarding the custody of crypto asset securities. The statement clarifies how the “physical possession or control” requirement applicable to client assets by broker-dealers applies to tokenized assets residing on the blockchain. Focusing specifically on the physical possession requirements under Rule 15c3-3, the guidance details the conditions under which brokerage firms dealing with crypto assets can be considered compliant. The SEC statement defines “crypto asset securities” as tokenized representations of shares or debt instruments recorded on distributed ledger technology. This definition encompasses a rapidly growing area recently, with the migration of traditional financial products to the blockchain. The Trading and Markets Division emphasizes that the guidance aims to provide greater clarity on the application of existing federal securities laws to crypto assets. It also explicitly states that the guidance was prepared as a temporary step in response to requests from market participants. The new statement targets paragraph (b)(1) of Rule 15c3-3 under the Securities Exchange Act of 1934. This provision requires broker-dealers to immediately establish physical possession or control of fully paid and over-collateralized securities held in client accounts. The SEC states that the published guidance does not redefine the concept of control in general terms, but only offers an opinion on the physical possession aspect. It is also specifically emphasized that the statement is not a binding regulation, does not impose new obligations, and does not have legal enforcement.Five special cases listedThe most important element that stands out in the SEC's guidance is the listing of five special cases in which crypto assets can be considered within the scope of physical possession. Accordingly, for a broker-dealer to be able to offer direct custody services, they must first have immediate access to the relevant crypto asset and be technically capable of making transfers on the blockchain. This condition implies exclusive control over the private keys. The second condition requires brokerage firms to conduct comprehensive assessments of the blockchain network at reasonable intervals before and after commencing custody services. These assessments highlight elements such as network reliability, transaction speed and capacity, scalability, resilience to potential failures, and security features. The consensus mechanism, code transparency, maintenance complexity, and documentation quality are also among the considerations. Governance processes such as protocol updates, hard forks, airdrops, and token exchanges are also expected to be closely monitored. The third condition stipulates that the broker-dealer cannot claim physical possession if they are aware of serious security vulnerabilities or operational weaknesses in the blockchain they are custodians of. The fourth condition requires the implementation of strong policies and controls, consistent with industry best practices, to protect private keys against theft, loss, or unauthorized use. The fifth and final condition requires the existence of pre-planned procedures to be activated in the event of blockchain failures, network attacks, or similar disruptions. These plans also cover compliance with legal demands such as asset freezing, seizure, or token burning in accordance with court orders. SEC official Hester M. Peirce welcomed the guidance, which was released in a separate statement. Peirce stated that the text provides important clarity, especially for broker-dealers who want to offer crypto asset custody services. Noting that the emphasis on protecting private keys is consistent with established industry best practices, Peirce urged the Trading and Markets Division to promptly submit proposals to the Commission to update Rule 15c3-3 to fully cover crypto asset custody.
The US Federal Reserve (Fed) has withdrawn its 2023 guidance limiting interaction with crypto assets, marking a significant shift in its approach to innovation within the banking system. This decision allows banks under Fed supervision, particularly uninsured state banks, to operate more flexibly with cryptocurrencies and similar digital financial products. This move comes as US regulators have recently adopted a more positive stance towards digital assets, making it a closely watched development for the sector.What did the 2023 guidance cover?The guidance, published in 2023, stipulated that uninsured banks would be subject to the same rules as banks with federal deposit insurance. Based on the principle that "like pays like pays," this approach effectively prevented uninsured banks from conducting activities not permitted for national banks, such as crypto services. This created significant restrictions, particularly for crypto-focused banks, in terms of Fed membership and access to central bank systems. The Fed cited significant changes in the financial system over the past two years and the institution's evolving understanding of innovative products as reasons for withdrawing the guidance. The statement read, "The 2023 policy statement is no longer appropriate and has therefore been withdrawn." According to the Fed, the current framework is outdated in the face of rapidly evolving financial technologies. One of the first reactions from the sector came from Caitlin Long, CEO of the crypto-friendly Custodia Bank. In a post on social media, Long reminded that the 2023 guidance was used as the primary reason for rejecting her bank's application to open a "master account" with the Fed. A master account allows a financial institution to hold an account directly with the Fed and access the central bank's payment systems without the need for an intermediary. Long argued that the Fed used the guidance as a basis for the Custodia decision even before it officially came into effect, claiming this was illegal. The Fed's new move was not limited to simply revoking the old guidance. The institution also released a new policy framework for “innovative activities” for both insured and uninsured state banks under Fed supervision. This framework allows banks to launch products and services based on new technologies, such as cryptocurrencies, provided they meet specified risk management and compliance standards. Fed Vice Chair for Supervision Michelle Bowman emphasized that the goal of the new approach is to keep the banking sector both safe and modern. According to Bowman, when implemented responsibly, new technologies increase efficiency for banks and enable them to offer better products to customers. The Fed's goal is to encourage innovation without compromising the principles of financial stability and soundness. However, the decision was not unanimous within the Fed. Fed Board Member Michael Barr dissented, arguing that maintaining the principle of level treatment among banks is critical to preventing regulatory arbitrage. He stated that the new policy could encourage banks to adopt looser regulations, creating incentives incompatible with financial stability. Barr has been associated with the “Operation Chokepoint 2.0” debates in the past, which aimed to exclude crypto companies from the banking system, but he has also served as an advisor at Ripple and is known for supporting responsible stablecoin regulation.
Coinbase has launched a comprehensive transformation in the financial services sector, moving beyond its identity as a crypto exchange. The company announced the official rollout of in-app stock trading for eligible users in the US. Thanks to this new feature, users can buy US stocks and select ETFs directly through the Coinbase app using USDC. This step stands out as one of the most concrete moves towards Coinbase's long-held vision of being "a single platform to buy and sell everything."Stock purchases with USDC are now possible on CoinbaseAccording to information shared by Coinbase, stock transactions are conducted in USDC. With this structure, the company aims to lay the foundation for a 24/7 trading market infrastructure that traditional exchanges still cannot fully offer. Settlement through the digital dollar creates a critical foundation for tokenized stocks and on-chain financial products in the future. CEO Brian Armstrong describes this process as the first step in the convergence of traditional assets with blockchain technology. In addition to stocks, Coinbase is significantly expanding its product range. The platform is adding futures, perpetual contracts, and outcome-oriented prediction markets. The prediction markets are being implemented in collaboration with Kalshi, a regulated entity in the US. Users can access contracts for thousands of different scenarios, ranging from economic data and political developments to sports and macroeconomic events. According to Brian Armstrong, prediction markets are not just a trading platform. Armstrong argues that these markets have become a powerful tool for measuring public expectations and perceptions. In statements to CNBC, he said that many users follow these markets not as an investment vehicle, but to "see the general expectation of what will happen in the coming month." Armstrong also emphasized that prediction markets could eventually function as an alternative information and sentiment barometer to traditional media.Coinbase's entry into this space comes amidst an increasingly competitive environment. DraftKings is acquiring its own prediction exchange, FanDuel is partnering with CME, and Polymarket is entering the US market through a newly regulated entity. Robinhood has also placed LedgerX at the center of its derivatives strategy. Armstrong describes this competition as "a race between regulated infrastructures and crypto-native liquidity." Tokenization is central to the company's long-term plans. In this context, Coinbase announced a new institutional product suite called Coinbase Tokenize. This platform allows companies and institutions to bring their real-world assets, even their own shares, onto the blockchain. Armstrong explicitly states that stock trading is only the beginning of this journey, and the ultimate goal is tokenized shares. According to him, this structure can increase global reach and make capital markets more inclusive. Coinbase is also expanding its API infrastructure for institutional clients and developers. The new API suite, covering custody, payment, trading, and stablecoin services, reflects the company's goal of going beyond retail users. Coinbase Business service is also being opened to eligible customers in the US and Singapore. In addition, private-branded stablecoins for businesses and a new payment standard called x402, which enables automated payments, are being introduced.
The United Kingdom is preparing to take a significant step to bring the crypto asset sector under a broader framework. According to a statement from the Treasury, crypto companies operating in the country will come under the direct supervision of the Financial Conduct Authority (FCA) from 2027. The new regulation aims to treat digital assets similarly to traditional financial products, while strengthening consumer protection and maintaining London's ambition to be a global crypto hub.Crypto mobility in the UKThe rapid increase in crypto asset ownership in the UK is among the main reasons for this step. According to official data, approximately 12% of the adult population in the country already owns cryptocurrency. This rate makes crypto no longer a niche area for regulators, but a financial activity affecting a wide audience. The government believes that the need for regulation is not a choice, but a necessity.Under the new framework, crypto exchanges, brokerage platforms, and companies offering digital wallet services will be subject to FCA oversight. These companies will be expected to meet similar standards to traditional financial institutions in areas such as transparency, operational resilience, and consumer rights protection. Officials believe this approach provides a clear roadmap for serious and long-term players operating in the sector, while also helping to push fraud and malicious activities out of the system. Consumer safety is central to the regulatory plan. Recently, there has been a significant increase in fraud cases and financial losses related to crypto investments in the UK. The government aims to mitigate these risks and restore investor confidence by bringing the crypto sector under official supervision. Chancellor of the Exchequer Rachel Reeves emphasized that the rules to be introduced will both protect consumers and support responsible innovation. The regulatory process is not limited to this development in 2027. The FCA and the Bank of England are already working on detailed regulations on issues such as crypto trading, custody services, token issuances, and market manipulation. It is stated that a separate framework is under consideration, especially for stablecoins, and that regulations in this area are considered critical for financial stability. Authorities plan to clarify most of these rules by the end of 2026. Meanwhile, the UK has also taken steps to strengthen the legal status of crypto assets. New regulations recognize Bitcoin and similar digital assets as property, making them inheritable and legally recoverable. This provides crypto asset owners with a more solid legal foundation. Internationally, London aims to increase cooperation with the US. The planned "Transatlantic Task Force" aims to ensure regulatory alignment between the two countries and support innovative projects. On the other hand, a ban on crypto-related political donations is also on the agenda due to concerns about transparency and ownership.
Depository Trust & Clearing Corporation (DTCC), considered the backbone of the US securities markets, has crossed a critical threshold in the field of tokenization. In a statement, the institution announced that its subsidiary, Depository Trust Company (DTC), received a "no-action letter" from the US Securities and Exchange Commission (SEC). This letter signifies a three-year authorization for the tokenization and offering of certain real-world assets (RWAs) on blockchains. Important Approval from the SECThis approval is not a direct license from the SEC, but rather an official opinion stating that no sanctions will be applied to the proposed activity. However, its impact on the market is significant. This step paves the way for the controlled tokenization of certain stocks, exchange-traded funds (ETFs), and Treasury bonds in the US for the first time. According to information shared by DTCC, the authorization will allow the tokenization of shares of companies included in the Russell 1000 index, ETFs tracking major US indices, and US Treasury bills, bonds, and long-term debt instruments. DTC plans to offer this service through its ComposerX platform on pre-approved Layer-1 and Layer-2 blockchain networks. The service is expected to be rolled out gradually in the second half of 2026. Tokenization refers to the creation of digital representations of traditional financial assets on the blockchain. The aim is to speed up exchange processes, reduce operational costs, and increase liquidity. DTCC specifically emphasizes that these tokenized assets will carry the same investor rights, ownership structure, and legal protections as their traditional counterparts. In other words, the resulting tokens are not merely technical representations but are financial instruments with legal backing. DTCC President and CEO Frank La Salla states that this development is a significant milestone in the transition to digital markets. According to La Salla, tokenization can only scale up if the legal certainty and security standards provided by existing market infrastructures are maintained. Brian Steele, Head of Clearing & Securities Services, states that this initiative aims to bring the operational resilience and security built over the years to the digital asset world. The inclusion of DTCC in the system shows that tokenization will no longer be limited to experimental projects or limited pilot studies. The institution is responsible for the clearing and custody of trillions of dollars worth of transactions in the US and global markets. According to 2025 data, DTC alone handles the custody and asset services of over $100 trillion worth of securities. Therefore, this step signals a structural change in terms of market architecture, collateral management, and liquidity flows. This development is also seen as part of a broader shift in the regulatory climate in Washington. Recently, both the SEC and the Commodity Futures Commission (CFTC) have adopted a more flexible and technology-open approach to digital assets. Tokenization initiatives by institutions such as JPMorgan, BlackRock, Coinbase, and Kraken also support this transformation. DTCC states that stablecoin distributions or tokenized deposit-like structures could be integrated into the system in later stages, but this would require additional regulatory approvals.
Gemini has obtained a Designated Contract Market (DCM) license from the US Commodity Futures Commission (CFTC), granting it the right to offer regulated prediction markets in the US. Announced on December 10, 2025, this decision marks the official completion of the five-year licensing process that began in March 2020. This step is critical for Gemini to expand its business model and establish a more robust revenue structure to meet expectations.Prediction markets meet with customersThe new license allows its subsidiary, Gemini Titan, to offer binary event contracts, also known as binary prediction contracts. These contracts operate on clear, yes-or-no questions such as, "Will Bitcoin close the year above $200,000?" The scope of the authorization is not limited to prediction markets; the company can also expand into a wider range of derivative products such as crypto futures, options, and perpetual contracts if it so chooses. This move means Gemini has established a fully compliant structure that will allow it to directly compete with emerging forecasting platforms like Kalshi and Polymarket in the US. The sharp increase in interest in forecasting markets, particularly during the US election cycle, strengthens the demand for a regulated and overseen platform. In the last two years, Kalshi and Polymarket have reached record volumes, and the CFTC's previously more cautious approach has softened significantly under Acting Chair Caroline Pham. Pham argues that forecasting markets could become an economically significant sector "as large as mainstream finance," and is taking steps to encourage innovation among industry players. The timing of the license is also noteworthy for Gemini. The company's shares have experienced a significant decline in value since its IPO in September 2025; opening at $37, the share closed at $11.36 on December 10th. Therefore, opening up to regulated derivatives and forecasting markets stands out as a strategic shift aimed at increasing revenue diversification and supporting long-term growth. Tyler Winklevoss's recent inclusion on the CFTC's CEO Innovation Council also signals a strengthening dialogue between Gemini and regulatory bodies.Market conditions make this strategy even more necessary. Bitcoin and Ethereum have experienced wide-ranging fluctuations in the last year, while networks frequently attracting institutional attention, such as Solana, have seen sharp pullbacks. This volatility is accelerating Gemini's desire to expand its product portfolio during a period of drastic changes in investor behavior.Despite renewed interest, Gemini is not the first US exchange to enter this space. Crypto.com is developing joint prediction platforms with different brands, while test code for a prediction module integrated into Coinbase's wallet is noteworthy. Furthermore, Robinhood becoming a large distribution partner, sometimes accounting for more than half of Kalshi's volume, demonstrates the rapidly increasing competition in the sector.Gemini's DCM license places the company among the limited number of platforms that can offer regulated prediction and derivatives markets in the US. This license is not unique to Gemini; This is also significant as a symbolic step indicating a shift in the CFTC's approach to digital assets and predictive products towards a more innovation-friendly era.
A long-awaited breakthrough has occurred in the US banking system. The Office of the Comptroller of the Currency (OCC), in a letter dated December 9th, authorized banks to act as intermediaries in cryptocurrency transactions. This officially removes one of the biggest uncertainties surrounding the entry of traditional financial institutions into the crypto market.The OCC's announcement allows banks to operate using a "riskless principal" model. In this model, banks match buy and sell orders on behalf of their clients, but do not add the asset to their own balance sheets. Thus, they are not exposed to price volatility. In other words, banks will function as a kind of crypto intermediary; offering a regulated, fast, and more secure alternative for clients.In the last few years, particularly during the 2021-2024 period, both the Fed and the OCC had adopted a very cautious approach to crypto assets. Liquidity risks and volatility warnings were prominent, and banks' crypto initiatives were limited to strict supervision and temporary pilot programs. Now, this approach is undergoing a radical transformation. The letter explicitly states that banks can now move towards full-scale integration and that crypto transactions will be conducted under OCC oversight.With this authorization, the OCC emphasized that enabling customers to access crypto through a regulated bank is critical for both security and transparency. It is expected to create an alternative, especially to unregulated or poorly supervised exchanges. By having banks act as a bridge between the customer and the counterparty, the risk of investors being exposed to unknown exchanges or anonymous trading markets will be reduced.This transformation creates a new business model not only for customers but also for banks. Traditional financial institutions will be able to offer crypto brokerage services within their own structures; trading infrastructures can be integrated into the banking system. Thus, the long-discussed "crypto trading through banks" model is truly becoming a reality in the US. This step is expected to facilitate access to crypto assets for millions of Americans.14 banks have appliedOCC Chairman Jonathan Gould stated at a blockchain conference that the technological transformation of banks is inevitable. “Custody and electronic custody services have been conducted digitally for decades. There’s no reason for us to view digital assets differently,” said Gould, emphasizing that the banking system has the capacity to evolve from the telegraph to the blockchain era. Gould also noted that they received 14 new bank applications this year, some of which were digital asset-focused. This figure is almost equal to the total for the last four years. According to the OCC, this indicates that crypto-integrated banking models could rapidly become widespread. Despite some objections from industry representatives, the OCC is clear: a crypto-compatible banking structure will both provide better service to customers and support local economies. Moreover, the OCC has been overseeing crypto-focused national trust institutions like Anchorage Digital for years. Therefore, it sees no risk in managing these new processes.
The U.S. Commodity Futures Trading Commission (CFTC) has taken one of the most concrete steps toward bringing crypto assets to the center of regulated finance. The agency has officially launched its "digital asset pilot program," which opens the door to the use of Bitcoin, Ether, and USDC as collateral in derivatives markets. The program both demonstrates the regulatory body's transformation in its approach to crypto and focuses on the integration of tokenized assets into traditional finance. The announcement came from Caroline Pham, the CFTC's de facto Chair. Pham has long been a prominent figure within the agency in updating the framework for crypto assets; she previously launched the "Crypto Sprint" initiative and last week announced that Bitnomial was the first exchange to list regulatory-approved spot crypto products.Pham summarized the goal of the new program as "maintaining the global leadership of U.S. markets by embracing responsible innovation." According to her, the ability to use tokenized assets as collateral will help market participants manage capital more efficiently and enhance the real-time monitoring capacity of regulators. The pilot program is initially limited to Bitcoin, Ether, and USDCAccording to the framework announced by the CFTC, futures brokers (FCMs) will be able to accept only BTC, ETH, and USDC for the next three months. Participating institutions will report the total amount of digital assets held in their client accounts to the CFTC weekly. Furthermore, any operational issues, disruptions, or system errors that could affect digital assets used as collateral will be required to be immediately reported to the regulator.This framework allows the CFTC to monitor market behavior in a gradual and controlled manner while also generating valuable data on how the use of tokenized collateral works in practice.The CFTC also released new guidance jointly prepared by its three divisions on the same day. These guidances clarify how real-world assets, such as tokenized U.S. bonds and money market funds, are valued under the current regulatory framework. Topics such as custody, segregation, valuation shards, and operational risk have been redefined. The agency also withdrew its staff advisory, issued in 2020, which restricted FCMs from accepting virtual currencies as collateral. The CFTC stated that this guidance was outdated with the enactment of the GENIUS Act. The GENIUS Act, passed this summer, specifically sharpened the framework for stablecoin use.Strong support from the industry: "A milestone for the US"Leading figures in the crypto industry welcomed the move. Coinbase Chief Legal Officer Paul Grewal said the decision "proves once again that digital assets provide real benefits in terms of speed, cost, and risk management in payments." Circle President Heath Tarbert emphasized that the use of regulated stablecoins will improve settlement processes and support 24/7 trading.Crypto.com CEO Kris Marszalek described the decision as "a significant step toward making the US a global hub for crypto innovation." Ripple CEO Jack McDonald also stated that recognizing tokenized assets as collateral will increase capital efficiency and strengthen the competitiveness of US financial markets.
The U.S. Securities and Exchange Commission (SEC) has closed its two-year investigation into Ondo Finance without recommending any charges. This development marked a significant turning point for both ONDO and the future of the US tokenization space. The investigation, which began in October 2023, assessed whether Ondo's processes for tokenizing US Treasury securities were compliant with existing securities laws and whether ONDO tokens should be classified as a security.According to a company spokesperson, Ondo received official notification at the end of November that the investigation was fully closed. This development confirmed a significant shift in the agency's approach to crypto-related filings since the SEC's new Chairman, Paul Atkins, took office. The withdrawal or dismissal of several high-profile cases filed during the Biden administration, along with the easing of pressure on companies like Coinbase, Ripple, and Kraken, all indicate that the US regulatory landscape is shifting more pro-crypto.The closure of the investigation also paved the way for Ondo to pursue a more robust expansion strategy within the US. The company recently registered as an investment advisor and acquired Oasis Pro Markets, an SEC-registered broker-dealer, ATS operator, and transfer agent. This structure provides Ondo with a regulatory-compliant operating space for the tokenization of real-world assets and a more comprehensive infrastructure for institutional investors.Meanwhile, the SEC has transformed tokenization from a mere monitoring agency to an active policy area. At last week's Investor Advisory Committee meeting, the agency discussed the potential impact of tokenization on the issuance, trading, and settlement of publicly traded stocks. Chairman Atkins emphasized in his remarks that distributed ledger technology could be a "transformative force" in the capital markets.ONDO price risesAmid these developments, the ONDO price has also been experiencing significant market volatility. According to a screenshot of the coin, the token is trading at $0.4966 today, demonstrating a significant increase in investor interest over the past 24 hours. Looking at the price changes:• 5.32% increase in the last hour,• 7.30% increase in the 24 hours,• 8.12% increase in the 7 days. In contrast, the 30-day price performance remains weak at -25.99%. This chart suggests that despite the short-term recovery, investors have not fully moved past the correction experienced over the past month.How Ondo's momentum unfolds from now on will largely depend on the company's plans to expand its US operations and the new tokenization solutions to be announced at the Ondo Summit in New York in February.
Binance has received full authorization from the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM), becoming the first crypto exchange globally to receive this approval. This step represents a significant milestone in the company's long-standing goal of regulatory compliance. Binance's entire operation, from spot and derivative transactions to custody operations, is now under a single, end-to-end regulatory framework, ensuring stronger assurance of risk management and user protection.Binance Receives Approval from ADGMADGM is a legal framework known for its clear rules and robust oversight mechanisms, closely following traditional financial standards. Binance's full compliance with this framework represents a critical step toward achieving the structural separation, accountability, and operational transparency that global regulators demand of crypto exchanges.Binance's CEO described the approval as a "strategic milestone" for the company and the industry. The statement emphasized that moving global operations to a structure closely overseen by ADGM demonstrates the company's solid foundation and commitment to responsible innovation. New Structure: Three Separately Licensed Companies Under the Nest BrandAccording to ADGM regulations, Binance will operate through three separate, local, and licensed entities. This approach aims to both reduce risks and strengthen regulatory oversight by separating the exchange's entire trading cycle.Nest Exchange Limited (formerly Nest Services): With its status as a Recognized Investment Exchange, it will be responsible for spot and derivative transactions.Nest Clearing and Custody Limited: Authorized as a Recognized Clearing Institution and will manage clearing, settlement, and digital asset custody processes.Nest Trading Limited (formerly BCI Limited): With its broker-dealer license, it will conduct OTC transactions, asset conversions, and over-the-counter trading activities.This structure stands out as a cryptocurrency version of the traditional exchange, clearing, and brokerage distinction. It also allows the regulator to independently oversee each function.Strong Framework for User ProtectionThe FSRA license places Binance users under one of the world's most stringent consumer protection regimes. All processes, including transaction execution, custody, risk management, and asset security, will be regularly audited. This is a key factor in boosting confidence among both institutional and individual investors.ADGM Chairman Ahmed Jasim Al Zaabi stated that Binance's entry into the region reinforces Abu Dhabi's rise as a global financial and innovation hub. Binance Co-CEO Richard Teng stated that the new structure strengthens its commitment to "compliance, transparency, and user protection."There has been no clear statement regarding whether the exchange will relocate its global operations to Abu Dhabi in the future; however, the company has been searching for a permanent international headquarters for some time.Binance.com is expected to fully operate under the ADGM framework as of January 5, 2026. With this transition, users will see clearer operational processes, enhanced custody services, and a regulatory-compliant trading infrastructure. Binance recently announced that it has surpassed 300 million registered users and remains the world's largest crypto platform by volume.
The United Kingdom has taken a historic step, putting years of debate surrounding crypto asset regulations behind it. The Property (Digital Assets etc.) Act 2025, which came into force on Tuesday, officially defines digital assets as a "third category of property." This gives Bitcoin, stablecoins, and other digital assets a distinct class of property under English law, separate from physical assets and contract rights.Critical crypto legislation in the UKThe legislation passed both houses of parliament without amendment and was signed into law with the assent of King Charles III. This demonstrates the broad political consensus the process has enjoyed. CryptoUK, a leading UK industry organization, stated that this step provides a long-awaited "clear legal basis" for the crypto industry. The association emphasized that courts have considered crypto property for years, but that clearly codifying this principle into law would eliminate uncertainty in areas such as criminal investigations, asset recovery cases, and inheritance law. Bitcoin Policy UK CEO Susie Ward commented on the decision as "now your satoshis are legally protected." The organization's policy director, Freddie New, described this development as "the biggest change to English property law since the Middle Ages." The statements indicate that the reform is a turning point not only for the crypto ecosystem but also for the English legal system.This regulation was first proposed by the independent legal body Law Commission in 2023. The proposal was then brought before the House of Lords in September 2024 and, as a short draft bill, was finalized in 2025. The main purpose of the bill was to strengthen the legal definition of what digital assets are, how they are owned, and how they should be protected.CryptoUK states that the new framework will be particularly effective in three areas: proof of ownership, recovery of stolen assets, and the treatment of crypto assets in bankruptcy and inheritance proceedings. Until now, a significant portion of crypto-related cases in the UK have been proceeded by judges' interpretations; Now, the written law provides a standardized approach to this area.The UK isn't content with simply defining crypto assets; it's also working to accelerate financial regulation. The Bank of England (BoE) recently published a draft new regulatory framework for sterling-backed stablecoins. The bank emphasizes that stablecoin use will become widespread in payment systems in the coming years and that preparations should be made now. BoE Deputy Governor Sarah Breeden stated that the country doesn't want to lag behind the US, saying the new rules will come into effect "at the same pace as the US."With this latest step, the UK has become one of the few countries that has moved closer to defining crypto assets in terms of both ownership and financial regulation.
Chainlink's native token, LINK, debuted strongly on Tuesday. Grayscale's initial listing of a Chainlink-focused exchange-traded fund (ETF) in the US quickly boosted the asset's price. LINK rose 13-15% intraday to $13.9, marking one of the most notable recoveries following a weak market outlook in recent weeks. A Critical Step for ChainlinkThe new product is trading on the NYSE Arca under the ticker symbol GLNK. Grayscale's Chainlink Trust, which launched as a private placement in 2021 and moved to OTC Markets in 2022, has now been converted into a fully public ETF. This step makes access to LINK easier and more regulated for both retail and institutional investors.According to Grayscale, GLNK offers investors the opportunity to gain exposure to Chainlink through traditional brokerage firms within a regulated framework. However, because the fund does not fall under the Investment Company Act of 1940, it lacks some of the consumer protections found in traditional ETFs. The fund's operating principle is based on holding LINK on behalf of investors and providing indirect access to the performance of these assets.The Chainlink ecosystem itself demonstrates that this interest is no coincidence. LINK powers the decentralized oracle network, already one of the most critical components of the blockchain world. This network securely transfers off-chain data (such as price feeds, weather forecasts, election results, or other API-based data sets) to smart contracts. It also supports cross-chain infrastructure, enabling data and asset transfers between different blockchains that don't communicate with each other. This infrastructure, used in a wide range of applications from DeFi and NFTs to gaming applications and enterprise solutions, contributes to the safekeeping of tens of billions of dollars in value.With the launch of the ETF, Chainlink's social media accounts also emphasized the "opportunity to invest in the fundamental bridge between the real world and blockchain." GLNK's volume exceeding 860,000 shares on its first day of trading demonstrates rapid investor interest. According to Yahoo Finance data, the fund has approximately $27.8 million in net assets and a 2.50% expense ratio.LINK's price action has been quite volatile in recent months. The token has lost approximately 39% of its value since the beginning of the year and has experienced declines of up to 47% in the past year. Therefore, analysts believe the new ETF could create price stability in the medium term. The recent entry of similarly themed ETFs for assets such as Solana, Litecoin, and XRP, particularly in the US, demonstrates a diversified interest in traditional capital.Grayscale's rapid transition from its product line to an ETF format is also noteworthy. The company previously transitioned from trust structures to an ETF model for assets such as Dogecoin and Solana. As the number of crypto-related securities products continues to grow in the US, Chainlink's acquisition of its own fund is a significant milestone in the sector.
The Japanese government is preparing to implement one of the most comprehensive regulatory packages regarding the taxation of crypto assets. Crypto gains, currently subject to a progressive income tax of up to 55%, will be taxed at a flat rate of 20% under the 2026 tax reform, under the same scope as mutual funds and stocks. This change is expected to increase the trading volume of individual investors and strengthen Japan's global competitiveness.Japan's Crypto ProposalAccording to the proposed reform, crypto gains will be separated from business income and wage earnings and moved into a separate income category. This means investors' crypto trading profits will no longer fall into progressive tax brackets; instead, a single flat rate of 15% income tax and 5% residence tax will be applied. This regulation is expected to be included in the final tax package to be announced in December 2026.The tax reform is driven by Japan's desire to encourage individual investors and its efforts to align with international practices. A comparative study conducted by the Financial Services Agency (FSA) noted that crypto assets are classified as property in the US and taxed at rates ranging from 0% to 37%; the UK applies rates between 20% and 28% for capital gains; and France has adopted a 30% flat tax model. Japan's 20% flat rate creates a framework more compatible with these countries and has the potential to increase competition in the domestic market.Beyond tax reductions, the FSA is also preparing structural classification changes. The new framework, which covers Bitcoin, Ethereum, and approximately 100 tokens, will redefine crypto assets as "financial products" under the Financial Instruments and Exchange Act. This will allow banks, insurance companies, and institutional brokerage firms to offer crypto products or provide custody services under certain conditions. This is expected to increase institutional participation and generate higher volume on domestic exchanges.The agency is also preparing a token whitelist of approximately 150 assets. Crypto assets included on this list will benefit from more flexible tax treatment, banking custody services, and market access. Tokens that remain unlisted will remain subject to existing strict regulations. With this approach, the FSA aims to both increase institutional compliance and enhance its oversight power by more clearly categorizing market risk.The tax reduction isn't just a technical adjustment for Japan. For years, the country has faced the problem of individual investors preferring offshore platforms due to high tax burdens, and the concentration of trading volumes in foreign markets rather than domestic exchanges. The 20% flat rate has the potential to reverse this trend and re-introduce the crypto ecosystem.Japan is also targeting young individuals and small investors in its comprehensive investment reform package designed to revitalize its capital markets. According to local media, the government is also considering a plan to extend some of the tax benefits to products suitable for investment by minors.All of these steps are expected to be enacted during 2026, and the new tax regime will take effect in fiscal 2027. If the process progresses as planned, Japan will have one of the most competitive legal frameworks for crypto taxation both in the Asia-Pacific region and among G7 countries.
Japan is preparing a new and comprehensive regulatory package to make the cryptocurrency market more secure. The Financial Services Agency (FSA) is working on a draft law requiring cryptocurrency exchanges in the country to establish mandatory liability reserves to protect users. This regulation aims to provide additional protection against losses, particularly those resulting from hacking attacks and operational errors.The FSA's recommendation will be included in the Financial System Council report to be convened on Wednesday. The report is expected to accelerate the regulatory process, and the relevant law is expected to be submitted to parliament during the regular Diet session in 2026.Japan already requires exchanges to hold user assets in cold wallets. However, cold wallet security isn't the solution. In 2024, the local exchange DMM Bitcoin lost approximately $312 million due to a breach involving Tokyo-based software company Ginco. This incident has once again demonstrated that asset custody measures alone are not sufficient. The FSA's new move aims to fill precisely this gap. With the new regulation, crypto exchanges will be required to establish emergency reserves to cover losses incurred by users as a result of potential attacks or technical glitches. The scope, oversight, and size of these reserves will be determined by the FSA. According to officials, the aim is to increase market confidence among both individual investors and institutional players by establishing a more robust trust infrastructure in the sector.Japan Takes Action on Crypto RegulationIn recent months, Japan has taken numerous steps to restructure not only security but also the sector's structure. The FSA announced that it is considering removing crypto assets from the current Payment Services Act and placing them under the Financial Instruments and Exchange Act. If this change is implemented, cryptocurrencies would gain full financial product status, similar to stocks and bonds.Tax reform is also on the agenda. A flat 20% tax rate is planned for digital asset gains. This approach could align crypto income with stock gains, creating a more predictable tax framework for investors.Meanwhile, Japan is also placing strategic importance on the stablecoin market. The country's first yen-backed stablecoin, JPYC, recently launched. New stablecoin projects, including those involving major local banks, are in the testing phase. Regulators believe that fiat-backed stablecoins will become a significant part of future payment systems.This market transformation has also spurred action from asset management companies. According to Nikkei, six major Japanese portfolio managers, including Mitsubishi UFJ Asset Management and Daiwa Asset Management, are preparing to launch the country's first crypto investment funds.
