Warren: The Federal Reserve Chair should refuse cryptocurrency bailouts

Cambodian lawmakers unanimously pass a new law; fraud-ring operators could face up to 5 years in prison

Gate News message, April 4. Recently, Cambodia’s National Assembly passed a new law unanimously with 58 votes in favor, officially criminalizing the operation of scam bases. Under the law, those involved will face imprisonment of 2 to 5 years and a maximum fine of $125k; if it involves organized crime or multiple victims, the penalties will double. The bill is currently pending the King’s signature to take official effect. Against this legislative backdrop, the UK has already imposed sanctions on operators of scam networks within Cambodia, and Cambodia has also extradited a person suspected to be the leader of a criminal syndicate to China.

Japan’s Financial Services Agency Issues a Network Security Reinforcement Policy for Crypto Asset Exchange Businesses

The Japan Financial Services Agency has issued “Policy Guidelines for Strengthening Cybersecurity for Crypto Asset Exchange Businesses and Related Entities,” with the aim of strengthening investor asset protection. It proposes a three-layer security framework to address the new landscape of cyberattacks. In subsequent plans, it will conduct penetration testing on major operators and revise the guidance to raise security standards.

Crypto market structure bill release pushed back as industries view revised stablecoin yield compromise this week

Crypto and banking industry representatives are meeting to discuss stablecoin yield provisions in a market structure bill. Compromise language, led by Senators Alsobrooks and Tillis, has raised concerns in the crypto sector, particularly regarding yield based on stablecoin balances. The release of the revised text has been delayed, with ongoing negotiations over technical details. A markup hearing is anticipated later in April. Other regulatory concerns, including the definition of DeFi and potential ties to former President Trump's family, remain unresolved.

Cambodian lawmakers propose severe prison time for crypto scammers

Cambodia's parliament passed legislation targeting compounds used to defraud victims through scams, including those involving cryptocurrency. In a Friday notice, the Senate of the Kingdom of Cambodia announced that the chamber had unanimously approved the draft law with no amendment, with 58

Trump fires Pam Bondi, puts pro-crypto Todd Blanche in charge of the DOJ

President Trump has fired Pam Bondi and replaced her with Todd Blanche as interim U.S. Attorney General --- handing control of the Justice Department to the official who dismantled the DOJ's crypto enforcement unit in April 2025 and holds up to $485,000 in personal digital asset holdings.

Kalshi hires Carter, a former staffer to former U.S. President Obama, as a policy adviser

The prediction market platform Kalshi in the United States has hired Carter, a former aide to President Obama, as a policy adviser to strengthen ties with the government and address regulatory challenges. Carter’s addition symbolizes Kalshi’s proactive outreach in political circles, while also drawing attention to legal disputes and concerns about insider trading by political figures. Prediction market data is increasingly becoming an important reference for tracking social trends.