Regulation & Policy

The Democratic Party of Korea introduced the “Digital Assets Basic Act,” establishing a digital asset regulatory framework, including issuance requirements for stablecoins and rules governing market conduct. In addition, the Financial Services Commission requires exchanges to implement a uniform withdrawal delay to combat voice scams. The core of the bill centers on a dispute over the eligibility requirements for stablecoin issuance, with the central bank and the Financial Services Commission taking different positions.

The U.S. FDIC has introduced a regulatory framework for stablecoins, requiring a 1:1 reserve, liquidity, and a redemption window within two days. The bill does not apply deposit insurance and is intended to ensure stability in the financial system. The FDIC has clearly set capital requirements and limits on earnings, and has clarified the security and compliance of stablecoins. This proposal is currently in a public comment period.

Bitcoin (BTC) gives back the overnight gains, temporarily trading at around $70,650 on April 9. The U.S. SEC appointed David Woodcock as its new Enforcement Director, after concerns were raised about how crypto cases would be handled following the departure of the prior official. The U.S. Treasury is planning to require stablecoin issuers to take on anti-money-laundering and sanctions compliance obligations.

Gate News message, April 9, according to a report by CoinDesk, South Korea’s ruling party has proposed a “Basic Act on Digital Assets,” aiming to establish a comprehensive legal framework covering issuance, trading, custody, and regulation. The bill would classify digital assets such as stablecoins—those pegged to fiat currencies or real-world assets—as a special category, requiring issuers to obtain licenses and meet requirements including capital, reserves, and redemption. The bill also plans to introduce a licensing and information disclosure system, clearly prohibiting market manipulation and insider trading, and intends to set up a Digital Assets Committee to coordinate regulatory oversight.

The U.S. Treasury plans to jointly issue new regulations requiring stablecoin issuers to establish anti-money laundering and sanctions compliance systems to address suspicious transactions and comply with the Bank Secrecy Act. This move is intended to advance the implementation of the GENIUS Act, which is expected to take effect in 2027.

The U.S. federal appeals court ruled that the state of New Jersey lacks authority to block the sports contract offerings of the prediction market platform Kalshi, which are regulated by the CFTC, stating that federal law takes precedence over state law. Although Kalshi prevailed, experts said this is only a temporary victory and that the Supreme Court will ultimately have to decide the jurisdiction issue.

The U.S. FDIC has introduced a regulatory framework for stablecoins, requiring 1:1 reserves and liquidity, and setting a redemption deadline within two days. The bill does not apply deposit insurance and is intended to ensure stability in the financial system. The FDIC has clearly set capital requirements and limits on earnings, and clarified the safety and compliance of stablecoins. This proposal is currently in the public comment period.

SEC Chair Paul Atkins has confirmed that the cryptocurrency “safe harbor” framework has been submitted to the White House for review. The proposal includes exemptions for startups and investment contracts to promote oversight of digital assets and innovation. This move has sparked lively discussion in the financial industry and among cryptocurrency supporters, and going forward it will aim to strike a balance between protecting investors and promoting innovation.

The U.S. Federal Deposit Insurance Corporation (FDIC) approved a proposed rule on April 7 to implement the regulatory requirements of the GENIUS Act, establishing a prudent management framework for stablecoin issuers and issuing corresponding regulations for stablecoin custodial services. The rule is intended to ensure proper management of reserve assets and risk controls, and to open a 60-day public comment period, reflecting the gradual improvement of stablecoin regulation in the United States.

Bitcoin Magazine interviews former White House reporter Corva, sharing his experience of becoming a Bitcoin advocate and analyzing Bitcoin’s role in humanitarianism and global finance. He emphasizes that policy needs legislative support, advises beginners to use dollar-cost averaging, and encourages community involvement to expand its broader impact.

The CLARITY Act's chances of passing depend on timely legislative action, as summer distractions and midterm politics could hinder progress. Delays may complicate its path, especially if political dynamics shift post-election.

The U.S. FDIC has rolled out a regulatory framework for stablecoins, requiring 1:1 reserves and liquidity, and setting a redemption deadline within two days. This bill does not apply deposit insurance and is intended to ensure the stability of the financial system. The FDIC has clearly laid out capital requirements and limits on earnings, and has clarified the safety and compliance of stablecoins. This proposal is currently in a public comment period.

The U.S. Department of the Treasury will issue new rules requiring stablecoin issuers to take measures to combat money laundering and sanctions violations, including suspending suspicious transactions and strengthening management of high-risk customers. This move is intended to protect the safety of the financial system while also supporting the growth of the stablecoin industry.

U.S. SEC Chair Atkins confirmed that a proposal for a “safe harbor framework” that would allow crypto-asset projects to be exempt from registration in the early stages has been submitted to the White House for review. The proposal is intended to help startups raise funding while protecting investors, and includes provisions for a “startup exemption” and an “investment contract safe harbor.” However, the legislative process for regulating cryptocurrencies faces difficulties, and Paul Atkins emphasized that a stable legal foundation is more important than administrative rules.

The Thai Securities and Exchange Commission proposes bringing into regulation the sources of funds behind crypto-asset company shareholders, aiming to curb hidden capital flows and the infiltration of illegal funds. This proposal includes reviews for both directly and indirectly supporting parties, and for shareholders of government-related entities, it only examines their shareholdings.

Thailand’s securities regulator is seeking to curb money laundering and technology-related crimes by tightening funding rules for cryptocurrency companies. The Securities and Exchange Commission of Thailand (Thai SEC) on Monday proposed expanding approval requirements for crypto businesses to

South Korea's financial regulators have mandated that all domestic crypto exchanges implement a uniform withdrawal delay system to combat voice phishing scams. This decision removes prior flexibility for platforms in managing withdrawal exceptions, aiming to give victims time to reconsider transactions.

The White House Council of Economic Advisers released a report stating that prohibiting crypto companies from offering stablecoin yield will have a negligible impact on community banks, with traditional loan growth of only 0.02%. The report said the ban deprives consumers of competitive returns and reflects tensions between the crypto industry and banking. The conclusion differs significantly from the risks warned by the Community Bankers Association, and could have potential effects on the market and investors.

Gate News update: On April 8, U.S. Securities and Exchange Commission (SEC) Chair Paul Atkins announced that he has ended “enforcement-led regulation,” and said that the seven crypto-related registration cases brought by the previous administration were a “misallocation of resources,” providing no direct benefit to investors.