Another week, another crypto recap. Here are the five stories that mattered most this week short, clear, and to the point.
South Korea’s New Crypto Regulations Hit a Wall as Regulators Clash Over Stablecoin Control. Regulatory authorities in South Korea could not reach an agreement on the stablecoin supervision and that led to terrible market uncertainty, hence the slow-down of crypto reform plans in South Korea.
Bitcoin Is a Lifeline Amid Iranian Protests, Says Bitwise Chief. According to Bitwise, Bitcoin is considered in Iran as a store of value and is being used in the transferring of funds during unrest and financial restrictions.
Congress Moves to End Tax Headaches on Everyday Crypto Purchases. In the U.S., lawmakers have been proposing exemptions for small crypto transactions from capital gains tax in order to foster the acceptance of crypto payments.
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JPMorgan Launches Its First Tokenized Money Market Fund ‘MONY’ on Ethereum. The adoption of blockchain finance by the bank is further indicated by JPMorgan’s launching of MONY, a money market fund that is fully tokenized on Ethereum.
Coinbase CEO Says Tampering With the GENIUS Act Is a Total No-Go. The CEO of Coinbase, Brian Armstrong, stated that the potential weakening of the GENIUS Act might have a negative impact on the clarity of the regulation and innovation.
This week showed how regulation, real-world use, and institutional adoption continue to shape the crypto industry.
