© 2025 All rights reserved
News
Regulation News
Regulation News
Browse all Regulation related articles and news. The latest news, analysis, and insights on Regulation.
Iran Central Bank Restricts Crypto Exchanges After Cyber Attack
The Central Bank of Iran has issued a mandatory regulation requiring all cryptocurrency exchanges in the country to operate only between 10:00 a.m. and 8:00 p.m. The sudden decision comes after Iran’s largest crypto exchange, Nobitex, was hit by a massive cyberattack worth around $90 million. The incident caused a huge stir both domestically and in the global crypto community.The Nobitex hack and the Israeli connectionAs previously reported, the attack is alleged to have been carried out by an Israeli-linked hacker group called “Gonjeshke Darande” (Sparrow of Prey), which has previously been linked to operations targeting Iranian infrastructure. It is known that this group has infiltrated energy and industrial systems in Iran in the past. The Nobitex hack suggests that the group has also targeted financial infrastructures. Iran’s cybersecurity units continue to investigate the details of the attack.The new regulation implemented by the Central Bank aims to prevent possible attacks that may occur during night hours by fixing crypto transactions to traditional bank hours. According to authorities, night hours are both less monitored and stand out as the time periods when cyber attackers operate more frequently. Nobitex is Iran's largest cryptocurrency exchange. Source: Chainalysis However, while the cryptocurrency market offers a decentralized ecosystem where transactions can be made 24/7 by its nature, such restrictions have been the focus of criticism. Iranian investors and industry representatives argue that the application could undermine user trust and increase the shift from local exchanges to international platforms.According to Andrew Fierman, Director of National Security Intelligence at Chainalysis, this restriction is not only security-focused. The Iranian regime wants to take more control of cross-border money transfers made through cryptocurrencies. This may be aimed at preventing cryptocurrencies from being used as a tool by the Iranian people to bypass sanctions.Fierman also reminds us that the Central Bank has previously attempted similar restrictions for different reasons. In the past, some transactions were restricted, especially in order to combat the depreciation of the Iranian Rial.Crypto mining and sanctionsIran has been using cryptocurrency technologies to bypass economic sanctions for years. It is also an important center for crypto mining due to its cheap electricity. However, this advantage has come under serious pressure with the recent tensions and cyber attacks. The long-term effects of the new regulation on the crypto ecosystem will be more clearly seen in the coming weeks. However, for now, the “crypto working hours” for Iranian investors and developers are stuck between 10 a.m. and 8 p.m.
·
19 Jun 2025
US Takes Landmark Step in Crypto: GENIUS Act Passes Senate
A development that is seen as a turning point for the cryptocurrency market has taken place. The U.S. Senate has taken an important step in the cryptocurrency field by passing the GENIUS Act (Guiding and Establishing National Innovation for U.S. Stablecoins) by a vote of 68-30, focusing on stablecoin regulations. The bill is expected to become law by August with the support of the Trump administration.Stablecoins are now subject to official regulationsThe GENIUS Act provides the first comprehensive legal framework for dollar-backed stablecoins in the U.S. The law requires these assets to be fully backed by U.S. dollars or similar highly liquid assets, while making annual audits mandatory for stablecoin companies with a market value of over $50 billion. In addition, restrictions are also placed on algorithmic stablecoins and models that do not have sufficient collateral.The law, which also takes important steps in terms of financial transparency and investor protection, foresees that stablecoin users will be placed in the position of priority creditors in the event of a company's bankruptcy. In other words, we see that the concept of “super-priority”, which increases the security of investor funds, is being applied in this area for the first time. Another striking article of the law is aimed at technology giants such as Meta and Amazon. Such large companies will have to meet certain privacy and financial security standards if they want to issue stablecoins or operate in this area. Otherwise, their activities may be restricted. At the same time, the law opens the door to a wider range of “stablecoin issuer” companies such as banks, fintech startups and retail giants, paving the way for new players to enter the market.Opposition from DemocratsAlthough the law was passed with bipartisan support, some Democratic senators opposed the bill and requested various changes to be made before the vote. One of the most notable proposals from Democrats was to prevent President Trump and his family from profiting from crypto ventures. However, this proposal was not reflected in the law; the final text only included a regulation prohibiting members of Congress and their families from profiting from such activities. On the other hand, another stablecoin law called the STABLE Act, which aims to provide more transparency, continues to advance on the Congressional agenda.Trump administration fully supports cryptoThe Trump administration is known for its open support for crypto assets. Treasury Secretary Scott Bessent stated that the legislation will increase the global use of dollars by offering stablecoins backed by US bonds. The next stop for the legislation to be enacted is the House of Representatives. The House can either submit its own version or directly vote on the text passed by the Senate. Either way, time is running out. President Trump wants the stablecoin bill to reach his desk before August.With the stablecoin market expected to reach $3.7 trillion by 2030, the passage of the GENIUS Act in the Senate is a critical milestone.
·
18 Jun 2025
Markets Hold Their Breath Ahead of Final GENIUS Act Vote
The critical day has come for the Genius Act, one of the regulations that the cryptocurrency world has been waiting for a long time. The US Senate will determine the fate of the bill with its final vote at around 23:30 this evening. If there are at least 51 “yes” votes in the Senate, the bill will be moved to the House of Representatives. This step could pave the way for the formation of much more specific legal frameworks for crypto assets, especially stablecoins.What does the Genius Act aim to do?The Genius Act aims to create a legal basis for digital assets known as stablecoins, whose value is generally pegged to fiat currencies such as the US dollar. These assets, which have been on the agenda for years due to lack of regulation, are now used by millions of people for payment, savings and trade purposes. The bill aims to fill the gaps in this area, increase investor confidence, reduce institutions’ distance from crypto, and make the US a global leader in digital finance.The bill, which has prominent Republican supporters such as Senator John Thune and Senator Bill Hagerty, is seen as an opportunity not only for financial innovation but also for the US dollar to maintain its effectiveness in the digital age. Hagerty emphasized the strategic importance of the bill by saying, “If we do not act, digital dollar innovation will shift to other countries.” Tech giants take actionAnother development that drew attention before the vote was the stablecoin plans of giant companies. While claims that Amazon and Walmart were working on their own stablecoin projects came to the fore last week, JPMorgan also filed a trademark application for a crypto asset called “JPMD.” All these moves show that companies are preparing to enter this market quickly if the legal ground is formed.While support for the bill is strong, there are also quite loud voices of opposition. Democratic Senator Elizabeth Warren, in particular, warns that the regulation could pave the way for tech billionaires and large companies to issue cryptocurrencies that could become data collection tools. “If Congress does not fix this law, billionaires like Elon Musk and Jeff Bezos can launch stablecoins that collect your data and track your habits. Then when they fail, they seek government bailout,” he said, clarifying his opposition to the bill.Similarly, Senator Jeff Merkley is concerned that the system will pave the way for companies that issue coins for their own benefit. Critics argue that if the regulation does not provide sufficient oversight mechanisms, the system could be corrupted.Markets hold their breathThe crypto market is quite cautious ahead of this critical vote. While some assets, especially Ethereum, are experiencing fluctuations, stablecoins (such as USDT, USDC) are moving as balanced as usual. However, various signals that large investors are changing their positions indicate that volatility may increase after the vote.If the Genius Act passes the Senate, it will move on to the House of Representatives stage. This means that the long-awaited comprehensive regulation for stablecoins in the US could finally become law. Today’s vote could be a turning point not only for the US, but also for the global crypto ecosystem.
·
17 Jun 2025
Vietnam Legalizes Cryptocurrencies with New Digital Tech Law
Vietnam has taken a giant step toward the blockchain world by passing a comprehensive law that officially recognizes cryptocurrencies and artificial intelligence (AI). The “Digital Technology Industry Law,” which was passed by the Vietnamese National Assembly on June 14, 2025, with the approval of 441 out of 445 delegates, will come into effect on January 1, 2026.Cryptocurrencies are now officially recognized in VietnamUnder the new law, blockchain-based cryptocurrencies such as Bitcoin and Ethereum are officially defined as “crypto assets.” Additionally, elements such as in-game items and loyalty points are classified as “virtual assets” under a separate category. Securities, central bank digital currencies (CBDCs), and traditional financial instruments are excluded from this regulation. Cryptocurrencies in Vietnam are now not only recognized as a technological innovation but also as a property right under civil law. The law does not merely recognize cryptocurrencies officially. It also offers numerous incentives to support local startups and prevent brain drain. Under the new regulations, local technology startups will receive tax exemptions, government-backed grants, special visa programs, and various subsidies. The government aims to achieve 8% economic growth in the digital sector with these reforms.This process, which began with Prime Minister Pham Minh Chinh's directive in March, has been transformed into a concrete bill through the joint efforts of the Ministry of Finance and the State Bank of Vietnam. The new regulation, similar to special cryptocurrency regulations implemented in regions such as the European Union and Dubai, offers a structure separate from traditional financial rules.Vietnam was on the FATF's gray listVietnam has been on the Financial Action Task Force (FATF) gray list for a long time. The reason was weak cryptocurrency regulations and insufficient anti-money laundering measures. The new law directly addresses these concerns. The law clearly states AML (Anti-Money Laundering) and CFT (Counter Financing of Terrorism) standards. In addition, measures to prevent cryptocurrencies from being used for illegal purposes, particularly for arms procurement or terrorist financing, have been legally guaranteed.With the law coming into effect in 2026, Vietnam will:Establish licensing processes for cryptocurrency service providers,Impose compliance requirements on financial institutions,Monitor compliance with AML, CFT, and cybersecurity standards.All these developments could bring Vietnam into greater alignment with international cryptocurrency regulations. Additionally, these regulations aim to attract foreign investment and establish the country as a regional digital technology hub. Vietnam, which ranks 5th in Chainalysis' 2024 Cryptocurrency Adoption Index, has the potential to further strengthen its global ranking with this legal reform. Vietnam ranks 5th in Chainalysis' crypto adoption index
·
16 Jun 2025
DTCC Has Put the Use of Stablecoins on the Agenda
DTCC Evaluates Stablecoin Integration to Boost Market EfficiencyDTCC (Depository Trust & Clearing Corporation), a key player in the U.S. financial infrastructure, has announced that it is exploring the use of stablecoins to make digital asset transactions in the market faster and more efficient. This development holds significant potential to increase institutional interest in stablecoins.Objective: Enhancing Transaction EfficiencyIn its statement released on June 12, DTCC noted that stablecoins could offer lower risk and faster settlement for market transactions. CEO Frank La Salla emphasized that this move is not just a technological innovation but a strategic initiative that could transform the U.S. financial system.According to La Salla, stablecoins are not an alternative to central bank digital currencies (CBDCs) that may be introduced in the future. Rather, they are seen as complementary instruments. The goal is to enhance security and save time in the settlement of digital assets.Growing Institutional DemandDTCC’s announcement reinforces the growing interest in stablecoin adoption on the institutional side. As regulatory efforts around stablecoins in the U.S.—such as the STABLE Act—continue to progress, more institutional players are expected to enter the stablecoin space.Previously, major financial firms like JPMorgan and BlackRock had already taken steps in this area. Now, if a clearing giant like DTCC joins the race, it could accelerate the institutional adoption of stablecoins.A Timely Call from Coinbase’s CEOOn the same day, Coinbase CEO Brian Armstrong made a notable statement:“It’s time to bring crypto, innovation, and jobs back to America.”Armstrong’s call highlights the need for crypto companies to establish a stronger presence in the U.S., especially as regulatory clarity emerges. DTCC’s potential move into stablecoins could pave the way for this broader shift.
·
12 Jun 2025
A New Era in Crypto Transactions in Turkiye: Remote Identity Verification Becomes Permanent
Regulatory measures targeting the crypto asset market in Turkiye continue unabated. With the new communiqué prepared by the Ministry of Treasury and Finance and published in the Official Gazette, the remote identity verification application in continuous business relationships between crypto asset service providers and their customers has now been made permanent.Legal framework expandedThe regulation, published under the title “Regulation Amending the General Regulation of the Financial Crimes Investigation Board,” covers both traditional capital market actors and crypto asset service providers. The heading “remote identity verification in capital market transactions” in the current legislation has been expanded to “remote identity verification in capital market and crypto asset service provider transactions” with the amendment. As a result, remote identity verification in the crypto field is now legally defined in a clear manner. Temporary provision made permanentA provision that was previously applied on a temporary basis has been made permanent by the regulation. According to this provision, crypto asset service providers will conduct remote identity verification within the framework of the methods and security measures specified, as part of the ongoing business relationships they establish with their customers. The name, surname, date of birth, Turkish ID number, and address information obtained during identity verification will be verified through the Identity Sharing System (KPS) of the General Directorate of Population and Citizenship Affairs, affiliated with the Ministry of Interior.This change enables both domestic and foreign crypto investors to access crypto service providers in Turkiye within a regulatory framework. Especially in today's world, where remote customer acquisition processes have become digital, this legal regulation is expected to make transactions faster and more secure for users who want to open accounts with crypto platforms.
·
12 Jun 2025
Two Critical Steps from the US Congress: CLARITY and GENIUS Laws Moving Forward
Two important regulatory bills that could be considered historic for the cryptocurrency sector in the US have gained significant momentum in both houses of Congress. In the House of Representatives, the “Digital Asset Market Structure Clarity Act” and in the Senate, the stablecoin bill known as the “GENIUS Act” have passed consecutive votes, bringing them one step closer to becoming law.Overwhelming vote for the CLARITY Act: 47 to 6On June 11, 2025, the CLARITY Act was approved by a strong majority of 47 to 6 in a vote held by the House Agriculture Committee. The bill's official name is H.R. 3633, and it is moving forward with bipartisan support. The bill aims to clarify which category crypto assets fall under in the US regulatory framework. Specifically, it seeks to provide a final resolution to the long-standing debate over whether cryptocurrencies should be classified as “securities” or “commodities.”This distinction is extremely critical, as when a cryptocurrency is defined as a security, regulatory authority falls under the U.S. Securities and Exchange Commission (SEC), while when it is defined as a commodity, it falls under the U.S. Commodity Futures Trading Commission (CFTC).Lawmakers supporting the bill emphasized that the digital asset sector has been lacking a clear regulatory framework for years, while opponents were given until Friday to submit their objections. The CLARITY Act will now undergo further scrutiny in the House Financial Services Committee, its next stop.The bill also includes a proposed amendment to limit the legal liability of software developers behind crypto projects. However, the Committee has not yet held a formal vote on this additional regulation.Majority secured for GENIUS Act in SenateOn the same day, the US Senate also witnessed a significant development in terms of digital asset regulations. The “GENIUS Act” bill was approved in the first vote by 68 to 30. This “cloture” vote limits debate on the bill and paves the way for the final vote. The GENIUS Act is expected to be put to a final vote in the Senate plenary session in the coming days, likely early next week. The GENIUS Act aims to establish a federal oversight framework specifically targeting the stablecoin market. Stablecoins, with a market value exceeding $254 billion, are increasingly taking on a strategic role in both daily payments and investment interest in government bonds.Former Treasury Secretary Scott Bessent described the impact of US-based stablecoins on global payment systems as “an opportunity to strengthen the dollar's global dominance,” while the Federal Reserve also views stablecoins as a new payment tool that could serve as an alternative to the traditional banking system.
·
12 Jun 2025
Crypto Move from Ukraine: Central Bank Will Be Able to Hold Bitcoin Reserves
A remarkable bill on cryptocurrencies has been submitted to parliament in Ukraine. Recorded on June 10, the new bill aims to authorize the country's central bank to include Bitcoin and other crypto assets in its national reserves. The bill, drafted by a group of lawmakers led by Yaroslav Zheleznyak, a deputy from the Holos party, is eagerly awaited in the cryptocurrency space.With the new bill, the Central Bank of Ukraine will be able to hold cryptocurrenciesThe draft law proposes amendments to the law “On the National Bank of Ukraine”. It would give the central bank the option to hold virtual, i.e. crypto-assets in its reserves in addition to gold and foreign currencies. However, this is not a mandatory practice. The bill only gives the NBU this authority. When, how and in what form, and how much crypto-assets to hold in reserves is left entirely to the bank's discretion.Zheleznyak said, “With this bill, we authorize the National Bank to include virtual assets in the country's reserves. However, decisions such as timing, method and volume will be entirely at the discretion of the central bank.” Zheleznyak's Telegram post According to Zheleznyak, a well-managed crypto reserve system can strengthen the country's macroeconomic stability and promote the development of the digital economy. “Proper management of crypto reserves strengthens macroeconomic stability and creates new opportunities for the digital economy,” he said in a post on Telegram.In a video call with Kirill Khomyakov, Binance's Regional Director for Central and Eastern Europe, Zheleznyak noted the global interest in the use of crypto assets in reserves. He noted that countries such as the US, El Salvador, Switzerland and Brazil have begun to consider crypto as a strategic reserve asset.The draft law has now been submitted to the Ukrainian parliament, the Verkhovna Rada, and is under consideration. If adopted, Ukraine will be one of the few countries to officially consider cryptoassets as a monetary policy instrument.Full legal ground in 2025In addition to the central bank's potential Bitcoin reserve step, Ukrainian lawmakers are also working on a more comprehensive bill that aims to fully legalize the use of crypto by mid-2025. This second bill, which is expected to be submitted to parliament after the new year, was drafted in cooperation with the Central Bank and the International Monetary Fund (IMF). The new legal regulation envisages the regulation of crypto assets in a security-like structure. Accordingly, earnings from cryptos will be taxed only when converted into fiat currencies; no tax exemption will be granted for daily digital asset transactions.Danylo Hetmantsev, Chairman of the Ukrainian Committee on Finance, Tax and Customs Policy, announced that the core of the draft law has been finalized and is expected to be passed by the parliament in the first quarter of 2025. There is also the possibility that Ukraine could become the first country in Europe to recognize Bitcoin as an official state reserve asset. Zheleznyak confirmed that the bill to create a state-backed strategic Bitcoin reserve is in the final stages and will be presented soon.
·
11 Jun 2025
Cryptocurrency Message from Trump's CFTC Pick
Crypto regulation is back on the agenda in the US. Brian Quintenz, former CFTC (Commodity Futures Trading Commission) member and head of policy at a16z (Andreessen Horowitz), has been nominated by President Donald Trump for CFTC Chairman. During his confirmation hearing before the Senate Agriculture Committee, Quintenz faced the most questions about cryptocurrencies. Quintenz argued that the CFTC can strike a balance that both encourages innovation and protects consumers.Message to Congress: “The roadmap is in your hands”Quintenz stated that a clearer structure should be established in the crypto market. In this context, he said that Congress's enactment of a new market structure law could support both consumer safety and technology entrepreneurship. “I see market structure laws as opportunities where consumer protection and innovation can go hand in hand,” Quintenz said, emphasizing that clarity of regulations will provide confidence to entrepreneurs.While Senate confirmation is still pending, bills are also being considered in Congress that would potentially make the CFTC the lead regulator for digital assets. Quintenz expressed his readiness to contribute his knowledge and experience to the process, should this increase in duties materialize.Commission is shrinking: Democratic members leavingThe CFTC, which Quintenz would take charge if appointed, is currently facing a serious lack of members. Some of the current members of the commission, which is required by law to consist of five members, have either resigned or are about to do so. Interim Chair Caroline Pham is expected to leave once Quintenz takes office, while the sole Democratic member, Kristen Johnson, has announced that she will leave “later this year.” This brings with it a situation in which Quintenz may be on his own for a while and the legal legitimacy of the decisions to be taken may be questioned.Some Senate Democrats have pointed out that the Trump administration has systematically removed Democratic members from independent agencies. Senator Raphael Warnock described this as “political cleansing” and asked Quintenz whether he would encourage the White House to fill the positions. “I don't tell the president what to do,” Quintenz said, not giving a clear answer on this issue.CFTC “ready” for cryptocurrenciesQuintenz acknowledged that more resources would be needed if the CFTC became the main regulator of digital commodity spot markets. However, he said that this need could be managed through a more efficient staffing structure with a “technology-driven” approach. In addition, Quintenz, who sits on the board of the prediction market platform Kalshi, was also asked about event-based derivatives contracts. In defense of these contracts, Quintenz said that these instruments contribute to risk management and price discovery functions. Time will tell what will happen with the CFTC in the coming period.
·
11 Jun 2025
Critical Vote in the US Senate: Big Decision on Stablecoins
A historic step towards regulating the stablecoin market in the US is about to be taken. The Senate is set to vote on the GENIUS Act bill, which would establish the first national regulatory framework for crypto assets across the country. In a fast-moving legislative process on Monday, Senate Deputy Majority Leader John Thune filed a cloture motion for both the bill and a key amendment. According to Senate rules, a limited 30-hour debate period begins after this application, at the end of which the final vote could take place on Wednesday.What is the GENIUS Act?The GENIUS Act is the first comprehensive regulatory framework for stablecoins in the United States. The bill, which has been shaped with bipartisan support for a long time, was reorganized in line with feedback from the finance, technology and banking sectors. In this process, Amendment 2307, submitted by Senator Bill Hagerty, restructured the key points of the bill and helped it gain wider support. Amendment 2307 introduces two different audit models for stablecoin issuers. Accordingly, companies with a market capitalization of less than $10 billion would be subject to a state-based regulatory regime. However, companies that exceed this threshold will be directly subject to a federal-level supervisory framework. Furthermore, stablecoins will be required to hold reserves in a one-to-one ratio of US dollars or short-term liquid assets. To increase transparency, companies are required to submit public reports every month.Restriction on interest-bearing stablecoins and foreign assetsAnother noteworthy aspect of the bill is the ban on interest-bearing stablecoins. This clause, which came to the fore in discussions with the banking sector, aims to prevent stablecoins from competing with traditional bank deposits. This is a regulation that aims to protect the role of banks in the money market.There are also restrictions on foreign-originated stablecoins. Foreign stablecoins without equivalent regulatory frameworks will be prevented from entering the US market. Lawmakers argue that this step is necessary for national security and financial stability.The bill also prohibits the executive branch from launching or introducing a digital dollar-like national stablecoin. Only Congress would have that authority. This clause received bipartisan support in order to provide a check on the power over monetary policy.If the vote reaches 60 votes, the Senate will move to a final vote on both the amendment and the bill. Given the bipartisan support so far, no major opposition is expected. It is highly likely that the bill will pass before the 30-hour debate period is completed.After passing through the Senate, the bill will be transferred to the House of Representatives. There, it needs to be harmonized with the STABLE Act, which is currently under committee review. The two pieces of legislation will then be combined in a conference committee and the final version will be presented to the President for his approval.
·
10 Jun 2025
The US Congress Updated the Crypto-Focused CLARITY Act
The US Congress has taken an important step for the long-awaited clarity in cryptocurrency regulations. Members of Congress introduced an updated version of the CLARITY Act, a bill that aims to unify the laws overseeing the crypto market. The new draft is called the “Alternative Amendment”, or officially “Amendment in the Nature of a Substitute” (ANS), and will be debated at the House Financial Services Committee hearing on June 11.Update to cryptocurrency law in the USThe new bill contains positive regulations, especially for developers and decentralized finance (DeFi) projects. Crypto developers and wallet providers will not be considered “money transfer service providers” if they do not have direct control over user funds. This means that DeFi tools and software where users store their private keys will be exempt from existing money services regulations. Furthermore, Bank Secrecy Act (BSA) rules will only apply to centralized intermediaries. This means that decentralized finance (DeFi) projects will be relieved of some regulatory pressure. However, the law also introduces new provisions for banks regarding the use of digital assets. National banks will be able to offer legal services using digital assets and blockchain technology. However, these activities must be conducted in accordance with existing regulations. The same rights will apply to insured state banks and their subsidiaries.The CLARITY Act mainly aims to clarify the classification of crypto-assets, the mandate of regulators and the rules to which market players are subject. The delineation of jurisdictional boundaries between the US Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) is crucial for the future of digital assets such as Bitcoin, Ethereum and stablecoins.The amendments to the bill have been welcomed in the market. In particular, software developers and the DeFi community have welcomed the emphasis on the principle of “decentralization” in the bill. However, some experts note that this concept is difficult to define in the legal framework. Former CFTC Chairman Timothy Massad warned that over-reliance on decentralization could mean building regulation on an uncertain concept that could change over time.Bitcoin reserve bill submitted to CongressIn the shadow of these legislative developments, another notable move came from Republican Representative Tim Burchett. Burchett introduced H.R. 3798, a bill to enact the strategic Bitcoin reserve plan proposed by former President Donald Trump. If passed, the US government would officially begin creating a Bitcoin reserve. Supporters argue that this plan would boost the US economy and increase crypto adoption, while critics point to Bitcoin's volatility.
·
9 Jun 2025
Gemini Launches IPO Process
The U.S.-based cryptocurrency exchange Gemini officially launched the IPO process by submitting a confidential S-1 filing to the U.S. Securities and Exchange Commission (SEC) on June 6, 2025. Founded by the Winklevoss twins, this crypto giant drew attention by taking this step right after Circle’s successful IPO, in a period where confidence in the digital asset market has been revitalized.Confidential S-1 Filing: Gemini Quietly Takes ActionGemini’s filing was submitted as a “confidential” S-1 document under U.S. regulations. This means a preliminary registration reviewed by the SEC, where details such as pricing, number of shares, and timing are not made public. Although the exact date of the IPO has not been announced, the process will become official once the SEC review is completed.This type of filing allows companies to manage the process without public pressure. Gemini’s strategic move aims to increase corporate transparency, gain investor confidence, and become more tightly integrated with regulations.Circle’s Success Was an InspirationGemini’s IPO move came right after Circle’s striking debut on the New York Stock Exchange on June 5. Circle, which had an opening price of $31, closed the day at $83.23, nearly tripling in value. This development reflected public market confidence in crypto projects.As the second major crypto company to go public after Coinbase, Circle’s success also mobilized other industry players. Gemini’s step sends a strong signal that the IPO momentum in the sector is gaining strength.Gemini’s Financial Position and Strategic PartnershipsDuring the IPO process, Gemini is working with major investment banks like Goldman Sachs and Citigroup. This shows that the company is not just a crypto exchange, but has also reached institutional-level financial, technological, and legal maturity.The IPO will provide Gemini with multiple advantages such as financial transparency, GAAP-compliant reporting, regulatory integration, and access to a broader investor base.Close Ties with the Trump Administration Draw AttentionGemini’s IPO move comes in a politically favorable environment for crypto. Donald Trump’s pro-crypto stance and his new appointments to institutions like the SEC have made the U.S. regulatory climate more moderate.It is known that the Winklevoss twins donated millions of dollars in Bitcoin to Trump. This suggests that Gemini has established strong ties with the Trump administration, which could strengthen its hand in the regulatory process.Why It MattersGemini’s IPO plan results from a combination of multiple factors: Circle’s success, the softening regulatory environment, and the renewed investor interest in crypto assets. This development:Opens a new entry point for institutional investors.Reinforces the belief that the crypto industry is “here to stay.”Could trigger a domino effect of IPOs among crypto companies.
·
8 Jun 2025
Deutsche Bank Opens the Door to Crypto Finance With its Stablecoin Plan
The $1.5 trillion banking giant Deutsche Bank is preparing to add a new move to its strategic initiatives in the digital asset space. Speaking to Bloomberg, Head of Digital Assets and Currency Transformation Sabih Behzad stated that the bank is considering launching its own stablecoin or participating in an industry-wide project.This development is directly linked to the steps the bank has taken in recent years in blockchain, tokenization, and digital asset custody. The bank’s goal is to become an institutional player in the stablecoin market, leveraging the evolving regulatory environment.Stablecoin PlansAccording to the information provided by Behzad, Deutsche Bank is following a multi-faceted strategy in the stablecoin space. The bank is keeping both options on the table: issuing its own digital currency and joining a stablecoin project developed through collaboration with multiple institutions.“With a supportive regulatory environment in the U.S., we clearly see the momentum of stablecoins,” said Behzad, noting that these assets are rapidly transforming into strategic financial tools. For banks, entering this space includes various paths such as becoming a reserve manager, issuing their own currency, or participating in sector collaborations.Deutsche Bank’s interest in this area is not new. The bank previously invested in Partior, a blockchain-based cross-border payments company, and joined the BIS (Bank for International Settlements) Agorá Project, participating in tokenization tests for wholesale payment systems.Existing Infrastructure Is Ready: Taurus Partnership and Custody ServicesDeutsche Bank’s push into digital assets is not limited to stablecoins. In September 2023, the bank partnered with Switzerland-based blockchain technology firm Taurus. Through this partnership, Taurus’s digital asset custody and tokenization services were integrated into Deutsche Bank’s infrastructure.At the time, Deutsche Bank’s Global Head of Securities Services Paul Maley emphasized that digital assets are “expected to reach a scale of trillions of dollars,” and thus banks need to be prepared for this transformation.Stablecoins Are Becoming MainstreamIn a report published in May 2025, Deutsche Bank analysts stated that stablecoins have now become a part of mainstream finance. The report noted that while the market size of stablecoins was $20 billion in 2020, it has now reached $246 billion.The same report mentioned that upcoming U.S. stablecoin regulations will solidify the legitimacy of these assets in 2025. This makes the timing ideal for large institutions like Deutsche Bank to step into the field.Deutsche Bank’s strategic move is not only institutional but also part of building a structure that offers globally scaled, regulation-compliant digital solutions. The fact that Banco Santander has also submitted an application for a stablecoin project during the same period shows that this trend is not unique to Deutsche Bank.
·
8 Jun 2025
Trump's Crypto Connections Cause a Crisis in the US Congress
Tensions over cryptocurrency regulations escalated during the June 4 session of the US House of Representatives Financial Services Committee. But as much as the technical details of the hearing, the controversy surrounding former President Donald Trump's name dominated the agenda. While the Digital Asset Market Structure bill, known as the CLARITY Act, was discussed, allegations that Trump's ties to the crypto world could be used for personal gain through this law raised tensions in Congress.Heavy accusation against Trump: “The CLARITY Act is being used for personal gain”One of the bill's fiercest opponents, Democratic Representative Maxine Waters, took aim at Republicans seeking to fast-track the CLARITY bill, noting that it offers various loopholes to securities firms and does not adequately protect consumers. Waters' main criticism, however, was directed at former President Trump. Emphasizing Trump's business ties in the crypto sector, Waters warned that the CLARITY Act could serve his personal interests.If the law is enacted, according to Waters, Trump could be in a position to “transfer Americans' money into his own digital wallet.” This revelation, especially when combined with news that TrumpCoin investors paid $148 million for a dinner held in recent weeks, increased the scale of the scandal.Trump family crypto platform under scrutinyThe controversy is not limited to Trump's personal interests. Democratic lawmakers are also demanding scrutiny of World Liberty Financial, a cryptocurrency platform allegedly backed by the Trump family. The allegations about the platform raised the possibility of a conflict of interest before lawmakers. Former CFTC (Commodity Futures Trading Commission) Chairman Timothy Massad also stated that Trump's crypto initiatives have damaged the industry's reputation and argued that it would be irresponsible to regulate without investigating existing links.Maxine Waters also said that the CLARITY Act poses not only an economic but also a national security risk. Emphasizing that consumer protection is insufficient and that there are not enough sanctions against crypto scams, Waters stated that the law could victimize millions of Americans.The future of CLARITY is uncertainThe GENIUS Act, another important law on crypto regulations, was approved in May 2025. However, the process for the CLARITY Act remains unclear. According to Maxine Waters, the bill could be voted on by the committee in Congress on June 10th at the earliest. However, it remains to be seen how the Trump-centered debate will take shape before the vote and how it will affect the legislative process. The fate of CLARITY could affect not only regulations in the US but also the direction of global crypto markets. Time will tell what will happen in the coming period.
·
5 Jun 2025
21Shares' Spot SUI ETF Application Accepted By the SEC
The U.S. Securities and Exchange Commission (SEC) has officially begun reviewing the spot SUI ETF application submitted by 21Shares. This development is being interpreted as a signal that a lesser-known yet ambitious Layer-1 blockchain like SUI is stepping onto the institutional stage—following in the footsteps of Bitcoin and Ethereum.The acceptance of the application does not mean it has been approved. However, the fact that the SEC has initiated the evaluation process already provides significant visibility for SUI. Previously, only major blockchain projects had a place in institutional investment products, but this move shows that SUI is stepping up to a new league.What Does the SUI ETF Represent?The product submitted by 21Shares is designed to track SUI tokens purchased directly from the spot market. In other words, this is not a futures-based ETF; it is an institutional investment product that provides direct exposure to the price of SUI.This detail is crucial, as the Bitcoin and Ethereum ETFs that were approved also operate as spot products—creating lasting impacts on the prices of those assets. Whether the same will happen for SUI remains to be seen in the coming period.Why Now, and Why SUI?SUI is a Layer-1 blockchain developed by Mysten Labs, known for its high transaction speed, parallel execution capability, and its architecture built using the Move programming language. In recent months, SUI has shown significant growth both in on-chain activity and in Total Value Locked (TVL). However, it is still considered a newcomer on the radar of institutional investors.This is where 21Shares’ move gains strategic significance. Leveraging its experience with Bitcoin and Ethereum products, 21Shares is now aiming to gain early exposure to rising stars like SUI by applying the same institutional framework.The SEC’s decision to review this application can be seen not just as a step forward for 21Shares, but also as a broader indication that "alternative Layer-1s" are beginning to find more space in the world of institutional investing.What Happens if the ETF Is Approved?If the SEC approves this application, it would mark a major milestone not only for SUI but for all alternative Layer-1 projects. In a landscape where only heavyweight assets like Bitcoin and Ethereum have received ETF approval so far, making room for a younger project like SUI would open an entirely new chapter.In that case:Institutional funds could directly invest in SUI,Liquidity in the spot market would increase,Price behavior could shift,On-chain activity on the SUI network could accelerate,Other Layer-1 projects might follow suit and submit similar applications.
·
4 Jun 2025