Latest Web3 Finance and Compliance Reports
![[coingecko] 2025 RWA Report: When Crypto Gets Real](https://web3accountant.online/wp-content/uploads/2025/03/下载-5.jpg)
![[GFI] The Impact of FSMA’s New Regulations on Digital Token Service Providers (DTSPs)](https://web3accountant.online/wp-content/uploads/2024/11/下载-3.png)
- [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 - [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 - 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 - [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) - [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 - [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 - [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”) - [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 2022On 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
- [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 - [MAS] GUIDELINES TO MAS NOTICE FSM-N27 ON PREVENTION OF MONEY LAUNDERING AND COUNTERING THE FINANCING OF TERRORISMThese 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
- [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 - [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 - [BCG] Stablecoins – Five killer tests to gauge their potential
Stablecoins are having a breakout moment, with economic, strategic, and regulatory fundamentals driving adoption. Five killer tests can help market participants gauge their long-term potential. Do stablecoins offer incremental value compared with existing forms of money movement? In stark contrast to existing payments infrastructure, the potential that stablecoins offer to create incremental value is often… Read more: [BCG] Stablecoins – Five killer tests to gauge their potential - [SoDA] Bridging Borders: SoDA’s Role in International Crypto Accounting
The number of ‘crypto native’ and traditional businesses that transact with digital assets has seen unprecedented growth in recent years. This adoption of a new asset class has necessitated an increased focus on accounting for tax reporting and operations management purposes; however, international accounting practices continue to evolve, and the systems required to convert on-chain… Read more: [SoDA] Bridging Borders: SoDA’s Role in International Crypto Accounting - [LF DECENTRALIZED TRUST] Central Bank Digital Currencies
As central banks around the world explore and test the uses, viability, and needs for a central bank digital currency, they are increasingly turning to distributed ledger technologies (DLTs). DLTs hosted by LF Decentralized Trust, which are built in the open with vendor-neutral governance, are widely deployed in production networks in other sectors. They are… Read more: [LF DECENTRALIZED TRUST] Central Bank Digital Currencies - [Congressional Research Service] Stablecoin Legislation: An Overview of S. 1582, GENIUS Act of 2025
The GENIUS Act of 2025 (S.1582) aims to establish a comprehensive federal framework for regulating payment stablecoins—digital assets pegged to a fixed value (e.g., $1) and used for payments or settlements. Although the Senate did not advance the bill on May 8, it outlines key proposals that may shape future legislation. Key Requirements for Issuers… Read more: [Congressional Research Service] Stablecoin Legislation: An Overview of S. 1582, GENIUS Act of 2025 - [bozhangles] Financial Anatomy of a Token Launch
CEX Listing Fees A basic trio many go with is MEXC, Gate, Kucoin, so you’re looking at $500k minimum. Market Making Fees Retainer (passive) is usually the most transparent model, but can cost 520k/month. Let’s average that to $10k/month, and you’re looking at $120k/year. MM Inventory When your token gets listed on a CEX, the… Read more: [bozhangles] Financial Anatomy of a Token Launch - [zodia] The Age of Stablecoins: Digital Money Meets Institutional Scale
Over the past decade, the evolution of stablecoins has accelerated at an extraordinary pace, reshaping the financial services landscape in ways few could have anticipated. This report offers an in-depth look at the transformative role stablecoins are now playing across payments, trade, savings, and the broader tokenisation of assets, and examines how this will shape… Read more: [zodia] The Age of Stablecoins: Digital Money Meets Institutional Scale - [ISCA] Pudgy Penguins Versus Dogecoin
Key Takeaways - [HKMA] Government welcomes passage of the Stablecoins Bill
On May 21, 2025, Hong Kong’s Legislative Council passed the Stablecoins Bill, establishing a licensing regime for fiat-referenced stablecoin (FRS) issuers. The new law requires any entity issuing an FRS in or related to Hong Kong to obtain a license from the Monetary Authority (MA). Licensed issuers must meet stringent requirements, including proper reserve asset… Read more: [HKMA] Government welcomes passage of the Stablecoins Bill