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  [App Economy Insights] WTF are Stablecoins?
  Circle just pulled off one of the hottest IPOs of the year. It’s nearly tripled on day one. The deal was 25× oversubscribed. Why all the excitement over a company that makes… a $1 coin? Welcome to the strange and powerful world of stablecoins—crypto’s most misunderstood corner, and maybe its most useful one. A Dollar That… Read more: [App Economy Insights] WTF are Stablecoins?
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  [FSTB] Policy Statement 2.0 on the Development of Digital Assets in Hong Kong
  The Government issued the Policy Statement 2.0 on the Development of Digital Assets in Hong Kong, reinforcing its commitment to establishing Hong Kong as a global hub for innovation in the digital asset (DA) field. This new policy statement builds upon the foundational measures outlined in the initial policy statement released in October 2022. The… Read more: [FSTB] Policy Statement 2.0 on the Development of Digital Assets in Hong Kong
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  [TRM] Unpacking Singapore’s Financial Services and Markets Act: What Crypto Firms Need to Know
  On June 30, 2025, key crypto licensing provisions in Singapore’s Financial Services and Markets Act (FSMA) finally take effect — three years after the legislation passed. In a long-awaited consultation response issued on May 30, 2025, the Monetary Authority of Singapore (MAS) clarified the new licensing requirements under the FSMA for digital token service providers (DTSPs). It also gave… Read more: [TRM] Unpacking Singapore’s Financial Services and Markets Act: What Crypto Firms Need to Know
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  [Web3 Harbour] Hong Kong Web3 Blueprint
  The Hong Kong Web3 Blueprint is a program developed by Web3 Harbour to articulate a unified industry voice on how Web3 technologies can help realise the Hong Kong Government’s strategic policy objectives. This first volume contributes directly to the government’s goal of enhancing Hong Kong’s position as an International Financial Centre (IFC), offering concrete perspectives… Read more: [Web3 Harbour] Hong Kong Web3 Blueprint
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  [Forvis Mazars] Custody & Controls for Safeguarding Crypto Assets
  The onboarding and management of crypto assets can require robust security measures. Experienced guidance is essential to thoroughly gauge and enhance your controls, policies, and processes. Why Custody & Controls Matter Custody and controls can help you: About Forvis Mazars Forvis Mazars is one of the largest U.S. public accounting firms. With 40,000 professionals in… Read more: [Forvis Mazars] Custody & Controls for Safeguarding Crypto Assets
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  [CNBC] Senate passes GENIUS stablecoin bill, giving crypto industry first major legislative win
  Key Points: The Senate passed the GENIUS Act, a landmark bill that for the first time establishes federal guardrails for U.S. dollar-pegged stablecoins and creates a regulated pathway for private companies to issue digital dollars with the blessing of the federal government. Disrupting legacy rails Stablecoins are a subset of cryptocurrencies pegged to the value of real-world… Read more: [CNBC] Senate passes GENIUS stablecoin bill, giving crypto industry first major legislative win
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  [ripple] Securing the UKʼs competitiveness in crypto-asset regulation
  Global lessons and challenges for the UK in regulating crypto-assets The UK already boasts a globally leading, competitive financial services centre with particular strengths in fintech, FX, capital markets, insurance and professional services. Leveraging this strong foundation, the UK can significantly benefit from the integration of crypto-assets and blockchain technologies. Blockchain technology enables direct transactions… Read more: [ripple] Securing the UKʼs competitiveness in crypto-asset regulation
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  [coinbase] THE FUTURE OF MONEY IS HERE AND IT’S ONLY JUST BEGUN
  16 years after the launch of bitcoin – and with it, the modern blockchain – it is safe to say that the future of money is here. Claimed ownership of crypto is more common than many think; stablecoin transfer volumes have reached unprecedented levels; more than a third of small and medium businesses use crypto… Read more: [coinbase] THE FUTURE OF MONEY IS HERE AND IT’S ONLY JUST BEGUN
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  [BINANCE] The Evolution of Tokens Over The Years
  The cryptocurrency industry has undergone a dynamic evolution, marked by cycles of exuberance, disillusionment, and iterative progress, From the meteoric rise of Initial Coin Offerings (ICOs) to the decentralized finance (DeFi) boom and the emergence of Internet Capital Markets (ICM) today, each of these phases have been characterized by bold experimentation, followed by setbacks from… Read more: [BINANCE] The Evolution of Tokens Over The Years
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  [coingecko] 2025 RWA Report: When Crypto Gets Real
  Changes to the RWA Landscape Market Cap of Fiat-backed Stablecoins Fiat-backed stablecoin market cap climbed by +$97B (+76%) between 2024 – 2025, ending April at a new all-time high of $224.9B amidst a crypto bull cycle. The growth in stablecoin market cap can mainly be attributed to USDT and USDC, which added +$56.3B and +$37.6B… Read more: [coingecko] 2025 RWA Report: When Crypto Gets Real
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  MAS Clarifies Regulatory Regime for Digital Token Service Providers
  The Monetary Authority of Singapore (MAS) clarified the applicable scope for its Digital Token Service Providers (DTSPs) regime. MAS issued on 30 May 2025 its response to feedback received  on the Consultation Paper on Proposed Regulatory Approach, Regulations, Notices and Guidelines for DTSPs under the Financial Services and Markets Act 2022. We would like to provide clarification… Read more: MAS Clarifies Regulatory Regime for Digital Token Service Providers
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  [GFI] The Impact of FSMA’s New Regulations on Digital Token Service Providers (DTSPs)
  What are “Digital Tokens”? What are DT Services? What are (not) DT Services? “(a) any service provided by any technical service provider that supports the provision of any digital token service, but that does not at any time enter into possession of any money or digital token under that digital token service, such as –… Read more: [GFI] The Impact of FSMA’s New Regulations on Digital Token Service Providers (DTSPs)
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  [Medium] Hong Kong SFC Considers Introducing Virtual Asset Derivatives Trading
  Hong Kong SFC Mulls Virtual Asset Derivatives Trading On June 4, Christopher Hui noted that the Hong Kong SFC is studying the possibility of allowing professional investors to trade virtual asset derivatives, and will implement sound risk management frameworks. This initiative will further diversify Hong Kong’s financial product landscape while maintaining a safe and transparent… Read more: [Medium] Hong Kong SFC Considers Introducing Virtual Asset Derivatives Trading
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  [PwC] Unlocking the future of payments and finance in MENA and the UAE with stablecoins
  The MENA region, particularly the UAE, has emerged as a leading market for stablecoin and established itself as a dominant virtual asset hub in the region. With the UAE’s national strategic goal to establish itself as a leader in blockchain and cryptocurrency innovation, it benefits from an early-mover advantage in positioning itself as a market… Read more: [PwC] Unlocking the future of payments and finance in MENA and the UAE with stablecoins
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  [Withers Khattarwong] Key considerations for businesses in light of the commencement of Part 9 of the Financial Services and Markets Act 2022 (“FSMA”) relating to digital token service providers (“DTSPs”)
  This note seeks to highlight several key considerations for business that provide services especially for digital payment tokens. Given the very high hurdle to obtaining a FSMA licence indicated by MAS, we believe the more relevant consideration for businesses is whether its activities fall outside FSMA. Territorial scope of FSMA MAS stated in its recent… Read more: [Withers Khattarwong] Key considerations for businesses in light of the commencement of Part 9 of the Financial Services and Markets Act 2022 (“FSMA”) relating to digital token service providers (“DTSPs”)
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  [MAS] Response to Feedback Received on Proposed Regulatory Approach, Regulations and Notices for Digital Token Service Providers issued under the Financial Services and Markets Act 2022
  On 4 October 2024, the Monetary Authority of Singapore (“MAS”) issued a consultation paper on the proposed regulatory approach, regulations, notices and guidelines for digital token service providers issued under the Financial Services and Markets Act 2022 (“FSM Act”) (the “consultation paper”). The consultation period closed on 4 November 2024, and MAS would like to… Read more: [MAS] Response to Feedback Received on Proposed Regulatory Approach, Regulations and Notices for Digital Token Service Providers issued under the Financial Services and Markets Act 2022
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  [OKX] The Future of Blockchain Applications: Reshaping Global Industries
  Blockchain and its many applications are changing the world. Although the last 10 years have been speculative, the next 10 will be defined by blockchain applications redefining major global industries — including financial services, technology, consumer and luxury goods, and sports and entertainment. In particular, the ongoing development of defined blockchain use cases — cryptocurrencies;… Read more: [OKX] The Future of Blockchain Applications: Reshaping Global Industries
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  [MAS] GUIDELINES TO MAS NOTICE FSM-N27 ON PREVENTION OF MONEY LAUNDERING AND COUNTERING THE FINANCING OF TERRORISM
  These Guidelines provide guidance to all holders of a licence granted under section 138 of the Financial Services and Markets Act 2022 (“FSM Act”) (hereinafter “digital token service providers”) on the requirements in MAS Notice FSM-N27 on Prevention of Money Laundering and Countering the Financing of Terrorism – Holders of Digital Token Service Licence (“the… Read more: [MAS] GUIDELINES TO MAS NOTICE FSM-N27 ON PREVENTION OF MONEY LAUNDERING AND COUNTERING THE FINANCING OF TERRORISM
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  [FCA] Stablecoin Issuance and Cryptoasset Custody
  In this Consultation Paper (CP) we are consulting on proposed rules and guidance for the activities of issuing a qualifying stablecoin and safeguarding qualifying cryptoassets, including qualifying stablecoins. This CP follows Discussion Paper (DP23/4) on our proposed approach to regulating stablecoins, which may be used for payments. Our proposals have been guided by our statutory… Read more: [FCA] Stablecoin Issuance and Cryptoasset Custody
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  [Steakhouse Financial] Stablecoins – The Practitioner’s Guide
  Stablecoins issue a foundational promise: Any holder should be able to redeem one stablecoin for one U.S. dollar, at any moment, without a haircut and minimal friction. Fulfilling this promise of parity rests on the pillars of sound asset management, reserve transparency, operational excellence, liquidity, custodial integrations, developer accessibility, and hard-won regulatory licenses. “Unless you… Read more: [Steakhouse Financial] Stablecoins – The Practitioner’s Guide