South Korea’s top financial regulator signaled a deeper pivot on crypto-exchange governance, arguing that licensed platforms should be treated as core public infrastructure rather than purely private firms. The remarks come amid ongoing work on the Digital Asset Basic Act, a legislative package that aims to tighten oversight and create a formal authorization regime for exchanges. FSC chair Lee Eog-weon outlined a plan to cap ownership by major shareholders and to align governance standards with those used in traditional securities markets. Lawmakers are also weighing a separate stablecoin framework that would set minimum capital requirements for issuers, with a target of 5 billion won ($3.7 million). The package signals Seoul’s intent to escalate governance reforms in a rapidly evolving market. Key takeaways Major crypto exchanges in Korea could face ownership caps modeled on securities, aiming to prevent control by a few families or entities. The plan would move exchanges from a r...

Key Takeaways The Russian Federation has declared WhiteBIT cryptocurrency exchange, as well as its affiliated organizations, 'undesirable'. The exchange is alleged to have transferred approximately $11 million in support of Ukraine Armed Forces. Despite this ban, WhiteBIT maintains its pro-Ukraine stance and is focused on expanding its operations worldwide. Russia has barred crypto exchange WhiteBIT from operating in its country. This comes after prosecutors labelled the platform as well as its affiliated and subsidiary organizations as 'undesirable' over allegations tied to support for Ukraine’s war efforts. The announcement came from the Prosecutor General’s Office of the Russian Federation. It alleged the exchange funded Ukrainian Armed Forces, facilitated 'gray' schemes and other illegal activities. Exchange Accused of Financing the Ukrainian Forces According to the Russian authorities, since the beginning of their war with Ukraine in 2022, WhiteBIT...

OKX is expanding its European footprint with a payment card designed to bring crypto-purchases into everyday retail via Mastercard’s network. The card, issued through Monavate under an Electronic Money Institution license, represents a calculated step by a growing cohort of crypto firms toward moving stable value off-chain for consumer spending. The rollout aligns with Europe’s evolving regulatory framework for crypto assets, particularly the Markets in Crypto-Assets Regulation (MiCA), which is shaping how crypto-enabled financial products operate in the region. OKX notes that access will hinge on regulatory compliance and rigorous identity checks, underscoring a cautious approach to bringing crypto into mainstream commerce. In a broader context, the arrangement also signals ongoing consolidation and strategic partnerships in crypto infrastructure, highlighted by Monavate’s forthcoming acquisition by Exodus as part of a wider corporate restructuring. Key takeaways OKX is launching a ...

The latest assessment from Chainalysis shows a marked shift in how illicit funds move within the crypto ecosystem. Centralized exchanges, once a primary conduit for laundering, are seeing their role diminish as informal, Chinese-language service networks expand their reach through laundering-as-a-service models. The report, published this week, details a landscape where money mules, informal over-the-counter desks, and gambling platforms are used to mix and route funds, bypassing traditional on-ramps and scrutiny. The trend sits within a broader growth in on-chain laundering, highlighting the continuous evolution of crypto crime even as regulators tighten rules around exchanges and custodians. In 2025, the on-chain laundering ecosystem reportedly processed more than $82 billion in illicit funds, a striking rise from roughly $10 billion in 2020, underscoring both rising liquidity and the persistent gap between crypto crime and enforcement capabilities. Key takeaways Chinese-language n...

Washington — A key Senate crypto bill faced procedural headwinds as Senator Roger Marshall reportedly backed away from pushing a controversial amendment on swipe-fee competition. The amendment, which would have forced card networks to compete on swipe fees, was filed last week but, according to Politico, Marshall privately agreed not to press it during the Agriculture Committee’s markup next week. The markup was originally slated for Thursday but was moved to Tuesday, Feb. 3, after a winter storm disrupted operations across much of the country. The legislation in question sets out how regulators will police the crypto sector, a central piece in the ongoing effort to craft a national framework that balances innovation with consumer protections. The amendment’s fate—along with the broader bill—has become a focal point in a politically charged environment. Democratic Senators Dick Durbin and Peter Welch signaled support for the concept, while some Republicans warned that tying the issue t...

Regulators in Europe and the United States are charting divergent paths for crypto policy, a contrast that could recalibrate where assets are traded, issued, and scaled. In Europe, MiCA has moved from drafting to hard enforcement, delivering a clear, phased timeline intended to harmonize regulation across 27 member states. In the United States, policy-makers and agencies continue wrestling with fundamental questions—how to classify tokens, where market structure fits, and which federal rules will ultimately govern exchanges, wallets, and staking. The MiCA framework began its rollout with publication in the EU Official Journal on June 29, 2023, advancing in stages: asset-referenced tokens and e-money tokens became applicable in 2024, the regime for crypto asset service providers followed by year-end, and a transition window through July 1, 2026. The practical effect is to push firms toward Europe for early expansion planning, budgeting, and product roadmaps that align with explicit regu...

A cybersecurity researcher has uncovered a vast, publicly accessible repository of stolen login credentials harvested from malware-infected personal devices. Jeremiah Fowler, a noted security researcher, highlighted a dataset containing around 149 million usernames and passwords collected from smartphones and computers. The records span a range of services, including social platforms like Facebook and Instagram, streaming services such as Netflix, and crypto-related accounts linked to the Binance exchange—of which at least 420,000 credentials were tied to Binance users. The discovery underscores how credential-st stealing malware continues to infiltrate everyday devices, exposing users to phishing, account takeover and cross-platform abuse. Key takeaways The dataset, reported by ExpressVPN, represents a credential dump from infostealer malware rather than a breach of a single company’s systems. Record counts by service are substantial: 48 million Gmail accounts, 4 million Yahoo acc...

Introduction Polymarket bettors are pricing in a 77% probability of a new US federal government shutdown by January 31, a jump of about 67% in just 24 hours. The spike unfolds as lawmakers push the CLARITY Act, a core crypto-regulatory proposal that has stalled amid the fallout from the record-long shutdown that dominated Washington late last year. Senate Democrats led by Chuck Schumer signaled they might block progress on the broader appropriations bill if funding for the Department of Homeland Security is attached, injecting political risk into crypto policy discourse. The week’s headlines also featured a Minneapolis incident and renewed debate over regulation, with Coinbase (EXCHANGE: COIN) CEO Brian Armstrong warning that an inadequate bill could undermine competitiveness in the sector. President Donald Trump also floated the possibility of another shutdown, underscoring ongoing political volatility that could spill into digital-asset policy. Key Takeaways Polymarket’s odds of a Ja...

Introduction Regulators’ push to curb stablecoin yields under the CLARITY Act threatens to reroute capital away from fully regulated markets and toward offshore or opaque financial structures. Industry executives warn that restricting compliant stablecoins from offering yields could sideline legitimate institutions while accelerating capital migration beyond U.S. oversight, complicating the country’s position in the global crypto ecosystem. Key Takeaways The CLARITY Act’s yield restrictions may drive compliant stablecoins offshore, undermining regulated financial channels. Treating stablecoins strictly as cash rather than yield-bearing instruments creates incentives for capital to seek higher-yield opportunities outside the onshore framework. Emerging on-chain yield strategies, including delta-neutral and synthetic structures, could flourish in regulatory gray areas, raising disclosure and oversight concerns. Global competition is intensifying as other jurisdictions pursue yield-bearin...

Introduction From Davos, CertiK’s co-founder Ronghui Gu signaled openness to a future public listing as a milestone for Web3 security infrastructure. In a World Economic Forum interview, Gu placed CertiK’s valuation at about $2 billion and described a public listing as a natural step, contingent on credible investments and strategic partnerships. The remarks come as a wave of crypto infrastructure players examine public markets to fund growth and bolster trust in audited, security-focused solutions. Key Takeaways CertiK publicly signals potential IPO as a strategic milestone for Web3 security infrastructure. Valuation estimates hover around $2 billion; an IPO would require substantial investment and partnerships. The Davos gathering underscores growing institutional interest in crypto infrastructure and governance. Other security and infrastructure firms are also weighing public-market routes, signaling a broader IPO window for the sector. Tickers mentioned: None Sentiment: Neutral P...

Introduction The settlement surrounding the Gemini Earn program marks a milestone in crypto enforcement history, as the SEC’s civil action against Gemini Trust Company and Genesis Global Capital related to Earn has been dismissed with prejudice. Courtside filings reveal a joint stipulation that clears the way for full asset restitution to investors and secures Gemini’s commitment to contribute up to $40 million to support that process. The decision, while not yet finalized by a judge, signals a shift toward settlement-driven resolutions in a turbulent regulatory landscape. Key Takeaways The SEC’s Earn-related case against Gemini Trust Company and Genesis Global Capital has been dismissed with prejudice. Gemini will contribute up to $40 million to support the full restitution of Earn investors’ assets. Genesis has already agreed to pay a $21 million penalty in a separate SEC settlement. The development reflects a broader regulatory realignment under the current administration, with seve...

Paradex, a blockchain-native on-chain derivatives venue, refunded about $650,000 to roughly 200 users after a maintenance-related software fault triggered unintended liquidations across multiple markets. The incident, disclosed in a Friday post-mortem, stemmed from a planned 30-minute database upgrade that spawned a race condition, writing corrupted market data on-chain. Paradex stressed that the issue was operational rather than a hack, and it paused access, canceled most open orders, and rolled the chain back to a pre-maintenance snapshot to protect users. Maintenance-induced race condition caused on-chain data corruption during a 30-minute database upgrade. Platform rolled back the chain to a pre-maintenance snapshot and canceled all open orders except take-profit and stop-loss orders. Approximately 200 users were refunded around $650,000 as part of a user-protection effort. Paradex implemented procedural and risk-control enhancements, including updated restart procedures, stronger ...