Bill Criminalizing Crypto-Powered Foreign Currency Tax Evasion Surges in Brazil

Minnesota considers legislation to ban counterfeit cryptocurrency vending machines

Minnesota is facing issues with scam cryptocurrency vending machines, and law enforcement agencies recommend legislation to ban these devices, while crypto industry stakeholders advocate for increased regulation. The scam machines particularly target low-income seniors, resulting in severe losses for many victims. Although relevant laws have been enacted, their effectiveness is limited, and there are differing opinions among parties on how to prevent scams.

SEC Chairman Paul Atkins blasts former Gensler: "Stifling Innovation" — The U.S. Missed Major Opportunities in Cryptocurrency

U.S. Securities and Exchange Commission Chairman Paul Atkins criticized former Chairman Gary Gensler for not adapting to crypto innovation, leading to the United States falling behind in global regulation. He proposed three major policy shifts, including withdrawing lawsuits against crypto institutions, establishing a dedicated crypto task force, and promoting a blockchain upgrade plan. Atkins announced that he will continue to push for the approval of tokenized financial products in the future.

The UK plans to open up cryptocurrencies for legal gambling payments, with regulatory pathways in development and possibly implemented by 2027.

The UK gambling regulatory authority is evaluating the possibility of allowing betting with cryptocurrencies to ensure fund security and consumer protection. This move complements the Financial Conduct Authority's digital asset framework, which plans to establish relevant rules by 2026 and implement them by the end of 2027. If successful, it could become an important pilot for the integration of cryptocurrencies and the gambling industry.

The U.S. Congress promotes the "Promoting Blockchain Development and Innovation Act," proposing to amend Section 1960 to establish a "safe harbor" for open-source developers.

U.S. bipartisan lawmakers recently introduced the "Promoting Blockchain Development and Innovation Act," aimed at clarifying the legal responsibilities of blockchain developers and preventing misclassification as remittance institutions. The bill focuses on amending Section 1960 and proposes providing legal immunity for open-source software developers to address industry concerns over regulatory ambiguity. The bill has garnered broad support and could reshape the U.S. cryptocurrency regulatory framework.

The negotiations for the CLARITY Act are still ongoing, and the battle over stablecoin yields is heating up. March 1 is not the final deadline.

Negotiations between the crypto industry and the banking sector regarding the stablecoin yield provisions in the CLARITY Act are ongoing, despite rumors that talks are near collapse. Multiple sources indicate that discussions are still in progress, and March 1 is not the deadline. Both parties are debating the yield mechanism, with disagreements centered on its impact on traditional deposits. Although there are short-term differences, the negotiation channels remain open, and future legislation will influence the business models of stablecoins and the banking system.

OCC Expands Trust Bank Services, Ripple Opens U.S. Banking System Channel

The U.S. Office of the Comptroller of the Currency has revised trust bank regulations, allowing national trust banks to engage in non-trust activities, eliminating previous compliance concerns. As a result, crypto companies like Ripple and Circle can now enter the U.S. banking system, promoting integration between the industry and traditional finance. At the same time, the Federal Reserve plans to streamline main accounts, which will allow these companies to access payment systems, but they face opposition from the banking industry.