Regulation & Policy

The U.S. Securities and Exchange Commission (SEC) has recently approved some cryptocurrency enforcement actions that have not harmed investors, and is shifting its focus to substantive harmful conduct such as fraud and market manipulation. SEC Chair Atkins emphasized reallocating resources, reducing the overall number of enforcement actions, to strengthen the effectiveness of investor protection.

Ripple reports that about 8 countries in Africa have established cryptocurrency regulatory frameworks, driving high adoption rates due to demand for remittances and inadequate financial infrastructure. Regulation is more mature in South Africa and Mauritius, while Nigeria and Kenya are still developing. Stablecoins are gradually shifting from speculation to business use, enhancing the potential for integrating financial systems.

The Chinese government encourages banks to use blockchain technology to strengthen “bank-tax interactions,” improve the financing environment for small and medium-sized enterprises, while fully banning private cryptocurrency trading and mining. It treats stablecoins and tokenization as illegal activities, showing clear policy boundaries and emphasizing official oversight and financial security.

Apple removed the decentralized communications app Bitchat from app stores due to China’s regulatory requirements. Because its Bluetooth and mesh network features were deemed to carry a risk of social mobilization, it was found to violate China’s Cybersecurity Law. Bitchat’s decentralized architecture makes it difficult for the government to regulate, and it has played a role in protests in multiple countries. The app can still be used outside China, and its downloads have continued to increase recently.

The FDIC has proposed new regulations for stablecoin issuers under the GENIUS Act, outlining standards for reserves, redemption, and risk management. While backing for stablecoins will be insured, holders will not receive direct protection. The FDIC invites public feedback for the next 60 days.

The U.S. FDIC approved a proposal on April 7 to establish a federal regulatory framework for stablecoins, covering four main compliance requirements: reserves, redemptions, capital, and risk management. The proposal is intended to improve stablecoin compliance and bring stablecoins into the banking system, ensuring that stablecoin holders can redeem at par. However, stablecoins are not protected by federal deposit insurance. The proposal is currently in the public comment period.

A cryptocurrency project linked to Donald Trump, World Liberty Financial, has once again sparked controversy due to its collaboration with the Southeast Asian blockchain project AB DAO. Investigations show that AB DAO has ties to individuals who are subject to U.S. and U.K. sanctions. WLFI said it had completed due diligence, but was not aware of the resort project that AB DAO allegedly promoted.

The U.S. SEC adjusted its crypto-asset enforcement strategy in fiscal year 2025, withdrew seven crypto cases that lacked sufficient basis, and also established a new division to crack down on violations in the blockchain, AI, and cybersecurity sectors. The new enforcement actions include lawsuits against companies such as Unicoin and PGI Global.

Gate News message: On April 8, the U.S. Federal Deposit Insurance Corporation (FDIC) officially released guidance for financial institutions and their financial-technology subsidiaries on the use of stablecoins. FDIC Chair Travis Hill said on Tuesday during a Board meeting in Washington that the new guidance will set out corresponding rules on areas including reserve assets, stablecoin redemptions, permitted activities, and capital requirements to address the growing adoption of digital currencies in the financial system.

The Chinese government encourages banks to use blockchain technology to strengthen “bank-taxpayer interactions,” improve the financing environment for small and medium-sized enterprises, and at the same time comprehensively ban private cryptocurrency trading and mining, treating stablecoins and tokenization as illegal activities. This shows a clear policy boundary and emphasizes official oversight and financial security.

Apple has removed the decentralized communications app Bitchat due to China regulatory requirements. Because of its Bluetooth and mesh network features, it was deemed to carry social mobilization risk and to violate China’s Cybersecurity Law. Bitchat’s decentralized architecture makes it difficult for the government to regulate; it has played a role in protests in multiple countries. The app remains usable outside China, and its downloads have continued to increase recently.

The U.S. Federal Deposit Insurance Corp. formally proposed its approach to stablecoin issuers as one of the federal financial regulators required to write and oversee rules under last year's Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act. The FDIC's proposal —meant t

The Chinese government encourages banks to use blockchain technology to strengthen “bank-tax interactions,” improve the financing environment for small and medium-sized enterprises. At the same time, it fully bans private cryptocurrency trading and mining, treats stablecoins and tokenization as illegal activities, demonstrates clear policy boundaries, and emphasizes official oversight and financial security.

The U.S. Federal Court of Appeals ruled that the state of New Jersey lacks the authority to bar Kalshi, a sports-betting prediction market platform regulated by the CFTC, from launching sports event contracts, finding that federal law takes precedence over state law. Although Kalshi prevailed, experts say this is only a temporary victory, and the Supreme Court will ultimately need to decide the jurisdiction issue.

The SEC's proposed crypto safe harbor framework is now under White House review, suggesting readiness for formal rulemaking. Chair Paul Atkins indicated that the plan aims to allow crypto projects to raise capital without immediate securities registration, shifting the conversation from general principles to specific regulations.

Apple removed the decentralized messaging app Bitchat due to China’s regulatory requirements. Because of its Bluetooth and mesh network features, it was deemed to pose a risk of social mobilization and was found to violate China’s Cybersecurity Law. Bitchat’s decentralized architecture makes it difficult for the government to regulate, and it has played a role in anti-government protests across multiple countries. The app is still usable outside of China, and its downloads have continued to increase recently.

The Financial Services Commission of Korea requires all domestic cryptocurrency exchanges to reconcile accounts every 5 minutes to address internal control vulnerabilities exposed by recent payment incidents. The new regulations include establishing automated reconciliation systems, setting standards for when trading must be paused, and strengthening reviews of high-risk processes, with the goal of improving asset security.

The Ministry of State Security has recently warned about various scams that use the slogan “accumulating Tokens can make you rich” and said these activities endanger the country’s economic security. It also urged the public to handle illegal cryptocurrency trading with caution.