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Author: Wei Xiang

  • [Chainalysis] The Road to Crypto Regulation Part 2: Stablecoins At the Crossroads of Financial Services and Crypto

    [Chainalysis] The Road to Crypto Regulation Part 2: Stablecoins At the Crossroads of Financial Services and Crypto

    Wei Xiang

    The trajectory of stablecoins — cryptocurrencies whose value is pegged to another asset, most commonly a fiat currency — is at an inflection point. Already, stablecoins account for trillions of dollars in on-chain value transferred each month. But the broadening interest in this asset stems not from their foundational role in crypto markets, but from… Read more

  • [S&P Global] Stablecoins: A Deep Dive into Valuation and Depegging

    [S&P Global] Stablecoins: A Deep Dive into Valuation and Depegging

    Wei Xiang

    Stablecoins address the need for digital tokens that maintain a consistent value relative to a reference asset such as fiat currency (for example, US dollar). Stablecoins play an essential role in decentralized finance (DeFi) protocols, acting as a medium of exchange between other cryptocurrencies. They allow users to borrow against other crypto-assets, to hedge against… Read more

  • [coingecko] Cost of An iPhone in Bitcoin & Ether, Over The Years

    [coingecko] Cost of An iPhone in Bitcoin & Ether, Over The Years

    Wei Xiang

    How Much Does The iPhone 17 Cost In Bitcoin & Ether? The newly announced iPhone 17 costs 0.0072 in BTC and 0.1866 in ETH. Its base price is the same as the previous four iterations, $799. However, unlike the price of iPhones, the price of cryptocurrencies has been very volatile over the past decade.  The iPhone 17 Costs 0.0072 BTC in… Read more

  • [SAFEHERON] Supply Chain Attack Targets Frontend Ecosystem: Protecting Your Digital Assets

    [SAFEHERON] Supply Chain Attack Targets Frontend Ecosystem: Protecting Your Digital Assets

    Wei Xiang

    A large-scale npm frontend supply chain attack has recently been identified, where attackers compromised the npm account of a well-known developer (qix) via phishing. They then published malicious versions of popular JavaScript packages (such as chalk and debug), embedding malicious code. This code hijacks native objects like Fetch, XHR, and window.ethereum at runtime. It scans network responses and parameters for address strings and replaces… Read more

  • [Forvis Mazars] FinCEN Notice Warns of Emerging Risks in Crypto Kiosks

    [Forvis Mazars] FinCEN Notice Warns of Emerging Risks in Crypto Kiosks

    Wei Xiang

    On August 4, 2025, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued a notice warning about increased illicit activity at convertible virtual currency (CVC) kiosks where fraudsters are exploiting the machines’ convenience and anonymity. While these self-service machines offer customers quick access to CVC, they also open new avenues for cybercrime, money laundering,… Read more

  • [HKMA] Explanatory Note on Licensing of Stablecoin Issuers

    [HKMA] Explanatory Note on Licensing of Stablecoin Issuers

    Wei Xiang

    While this Note summarises a number of principal provisions of the SO, the Guideline on Supervision of Licensed Stablecoin Issuers (“Supervisory Guideline”) and the Guideline on Anti-Money Laundering and CounterFinancing of Terrorism (For Licensed Stablecoin Issuers) (“AML/CFT Guideline”), this Note is not intended to be a comprehensive guide to the wide variety of compliance issues… Read more

  • [TNF] How Startups Can Win in the Tokenized RWA Boom: A Playbook for Crypto Innovators 

    [TNF] How Startups Can Win in the Tokenized RWA Boom: A Playbook for Crypto Innovators 

    Wei Xiang

    On January 23, 2025, President Trump signed Executive Order 14178, launching a federal working group focused on digital assets. By July 30, the group published its findings in a 166-page report. The word “tokenized” appeared over 60 times — a clear signal that the U.S. government is embracing the tokenization of real-world assets (RWAs).  This… Read more

  • [Deloitte] On the Radar Digital Assets

    [Deloitte] On the Radar Digital Assets

    Wei Xiang

    While digital assets have proliferated over the past 16 years, we are just beginning to see their integration with global financial services. Among other developments, the first digital asset exchange-traded products have been launched in the United States and digital assets are being used as treasury assets as well as in governance and payment applications.… Read more

  • [BIS] Stablecoin growth – policy challenges and approaches

    [BIS] Stablecoin growth – policy challenges and approaches

    Wei Xiang

    This Bulletin takes stock of the current state of the stablecoin market and assesses the key policy challenges surrounding the circulation of stablecoins in public blockchains. Although stablecoins bear some resemblance to conventional financial products (such as MMFs, or money market exchange-traded funds), they present a unique set of challenges given their borderless and pseudonymous… Read more

  • [Web3 Accountant] 2025 WEB3 ACCOUNTANT CRYPTO ACCOUNTING REPORT PART 4 – CRYPTO ACCOUNTING AND AUDIT UNDER US GAAP

    [Web3 Accountant] 2025 WEB3 ACCOUNTANT CRYPTO ACCOUNTING REPORT PART 4 – CRYPTO ACCOUNTING AND AUDIT UNDER US GAAP

    Wei Xiang

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    The New Standard for US GAAP Historically, digital assets were treated as intangible assets. Pre-December 15, 2024, and to the disdain of digital assets proponents, changes in fair value could only be reflected to the downside (as impairment), with no upward revaluations allowed. However, with the implementation of ASU 2023-08 (Subtopic 350-60), certain crypto-assets would… Read more