US Senator Lummis: The CLARITY Act Aims to Provide Clear Rules and Regulatory Framework for Digital Asset Markets

CLARITY Act Dropped From Senate Schedule; Crypto Bill Faces May Deadline to Avoid 2030 Delay

Senate Banking Committee Chair Tim Scott has delayed advancing the CLARITY Act due to unresolved issues, including stablecoin disputes and DeFi provisions. With a critical May deadline approaching, the bill's future remains uncertain amid political challenges.

South Africa's FSCA Receives 128 Crypto Exchange License Applications by November 30 Deadline

As of November 30, 2023, South Africa's FSCA received 128 crypto asset service provider license applications. Of these, 19 were withdrawn, 74 are under review, and others have set assessment dates, indicating a push for investor protection in the digital asset space.

Criticized for freezing USDC too slowly! Circle CEO: We will definitely wait for the court’s order before freezing—refusing to freeze privately/by ourselves without authorization

Circle CEO Jeremy Allaire said the company will not proactively freeze wallet addresses unless it receives a court order or a request from law enforcement. Even amid hacker money-laundering disputes and community backlash, Circle still insists on operating in accordance with the rule of law. Jeremy Allaire sets Circle’s law-enforcement bottom line ----------------------------- As the global cryptocurrency market roils, Circle’s CEO Jeremy Allaire, the stablecoin issuer, delivered a clear stance on the most sensitive issue in the market at a press conference in Seoul, South Korea. He pointed out that although Circle has the technical means to freeze specific wallet addresses, unless it receives a court order or a formal instruction from law-enforcement authorities, the company will not take such action on its own.

Bitcoin Developers Propose BIP 361 to Protect Against Quantum Computing Threats

Bitcoin developers have proposed BIP 361 to safeguard the network against quantum computer risks by freezing vulnerable addresses. The proposal includes a phased plan to transition users to quantum-safe wallets, but it has sparked debate on user control and security.

IRS Implements Mandatory Cost Basis Reporting for Digital Assets to Combat Tax Evasion

The IRS will enforce mandatory cost basis reporting for digital asset brokers starting April 15, 2026, requiring them to submit Form 1099-DA to report sales and exchanges. This aims to reduce underreporting of capital gains and align cryptocurrency tax reporting with traditional securities.

Is it possible that using a credit card to buy crypto could bypass Financial Supervisory Commission regulations? Odlinting is promoting Wallet Pro, a U.S. debit card crypto-buying service

The OwlPay and Wallet Pro services launched by OdinTing use stablecoin technology to enable B2B cross-border payments, and partner with international payment giants to demonstrate its ambition to expand in the fintech space. By operating from abroad, OdinTing bypasses Taiwan’s regulatory restrictions to provide fast virtual-asset trading. Meanwhile, facing the newly promulgated Virtual Asset Services Act, it is expected in the future to become a reference template for other foreign-invested companies entering the Taiwan market.