The EU proposes a comprehensive ban on all cryptocurrency transactions with Russia

Hong Kong Sends Strong Web3 Signal: Stablecoin Licenses to be Issued Next Month, Global Crypto Companies Accelerate Expansion

February 11 News, Hong Kong continues to strengthen its position as an Asian hub for digital assets and Web3 innovation. Hong Kong SAR Chief Executive John Lee delivered a video speech at the CoinDesk Consensus Hong Kong Conference, stating that the SAR government will support the development of the local digital asset ecosystem in the long term and provide a predictable business environment for global crypto companies through a clear and robust regulatory framework. John Lee pointed out that over the past few years, Hong Kong has systematically established a regulatory system for digital assets, aiming to promote the expansion of the Web3 industry on a compliant, transparent, and sustainable basis. He emphasized that Hong Kong also connects Mainland China and international financial markets, possessing dual advantages under the "One Country, Two Systems" framework that are difficult for other cities to replicate. This gives it a unique competitive edge in virtual asset innovation, capital flow, and institutional stability.

The Russian State Duma passes the cryptocurrency confiscation bill, establishing its property status

The Russian State Duma has passed a law establishing procedures for the confiscation and freezing of cryptocurrencies in criminal cases, confirming their legal status as property and requiring detailed record-keeping. The bill must be approved by the Federation Council and signed by the President. Once enacted, it will allow confiscated cryptocurrencies to be transferred to the national wallet.

Gate Daily (February 11): Federal Reserve warns of cooling crypto craze; former SafeMoon CEO sentenced to 8 years in prison

Bitcoin (BTC) remains in a downturn, temporarily trading around $69,160 on February 11. Federal Reserve Board member Waller warned that the cryptocurrency boom is fading as it remains closely linked to traditional finance (TradFi). The former SafeMoon CEO was sentenced to 8 years in prison for a cryptocurrency scam and ordered to forfeit approximately $7.5 million and two residential properties.

China strikes again! Virtual currencies are now fully classified as illegal finance; strict regulation of RWA tokenization and RMB stablecoins

Chinese authorities strengthen regulation of virtual currencies, jointly releasing a new notice clarifying that virtual currencies are not legal tender, and that related business activities are considered illegal financial activities. They also include the tokenization of real-world assets under strict regulation. The notice requires that virtual currency-related services are not provided domestically or abroad, and establishes multiple regulatory measures to ensure financial security.

Using friends' or relatives' bank cards to buy and sell USDT—what is the line between right and wrong?

When buying and selling USDT, the legal risks associated with using friends' and relatives' bank cards for collection and payment mainly depend on the subjective awareness of the parties involved and the nature of the funds. If there is no knowledge of others engaging in currency exchange, in principle, it should not constitute crimes such as illegal business operation, aiding and abetting, or concealment. Caution should also be exercised when applying charges related to credit card management to avoid broad interpretations. Therefore, legal assessments should be based on specific evidence and details.

IMF Warns: Stablecoins Could Shake Emerging Markets

_IMF reveals stablecoins bring both promise and peril to emerging economies. New research shows payment innovation meets currency substitution risks worldwide._ The International Monetary Fund just dropped some serious findings. Stablecoins aren’t just another crypto trend anymore. They’re