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Author: Wei Xiang

  • [Bitwise] Q1 Crypto Market Review – 2025

    [Bitwise] Q1 Crypto Market Review – 2025

    Wei Xiang

    10 Noteworthy Developments in Q1 2025 Key Upcoming Catalysts Read more

  • [BIS] Cryptocurrencies and decentralised finance: functions and financial stability implications

    [BIS] Cryptocurrencies and decentralised finance: functions and financial stability implications

    Wei Xiang

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    1. DeFi mimics traditional finance (TradFi) functions but introduces new risksDeFi aims to provide financial services such as payments, lending, and asset management without intermediaries. However, its design—based on anonymity and automation—exposes users to new forms of market failures, including information asymmetry and systemic vulnerabilities. 2. Smart contracts and composability: innovation and fragilitySmart contracts enable… Read more

  • [coingecko] Q1 Crypto Industry Report – 2025

    [coingecko] Q1 Crypto Industry Report – 2025

    Wei Xiang

    Read more

  • [BCG] Approaching the Tokenization Tipping Point

    [BCG] Approaching the Tokenization Tipping Point

    Wei Xiang

    This report provides a clear snapshot of the current state and future trajectory of asset tokenization over the next 5 to 8 years, emphasizing that now is the time for institutions to act. Rather than focusing on hype, the report identifies what’s working, what’s not, and offers guidance on how to scale beyond pilot projects.… Read more

  • [FIAU] Administrative Measure Publication Notice – OKCoin Europe Limited

    [FIAU] Administrative Measure Publication Notice – OKCoin Europe Limited

    Wei Xiang

    Date of Sanction: April 1, 2025Entity: OKCoin Europe LimitedSector: Virtual Asset Service Provider (VASP)Supervisory Action: On-site compliance review conducted in April 2023Penalty Imposed: €1,054,269 fine and a follow-up directive under Regulation 21 of the PMLFTR Business Risk Assessment (BRA) Deficiencies: Customer Risk Assessment (CRA) Failures: Customer Profile and Business Relationship Monitoring: Ongoing Monitoring and Enhanced… Read more

  • [SFC] Fuelling the Web3 and Digital Asset Ecosystem in Hong Kong

    [SFC] Fuelling the Web3 and Digital Asset Ecosystem in Hong Kong

    Wei Xiang

    This speech was delivered by Christina Choi, the Executive Director of Investment Products at the Securities and Futures Commission (SFC) of Hong Kong, at the Hong Kong Web3 Festival 2025. It mainly elaborates on Hong Kong’s initiatives and prospects in the Web3 and digital asset ecosystem. Choi starts by using the evolution of the floppy… Read more

  • [IRS] Allowance of Theft Losses for Victims of Scams Under I.R.C. Section 165

    [IRS] Allowance of Theft Losses for Victims of Scams Under I.R.C. Section 165

    Wei Xiang

    On January 17, 2025, the Office of Chief Counsel at the Internal Revenue Service (IRS) issued a memorandum (Number: 202511015) clarifying when taxpayers may claim theft loss deductions under Internal Revenue Code §165 for funds lost to scams. This guidance responds to increasing concerns over various fraudulent schemes that have led to substantial taxpayer losses.… Read more

  • [SFC] Terms and conditions for providing staking services

    [SFC] Terms and conditions for providing staking services

    Wei Xiang

    Key Purpose To ensure that staking services provided by licensed virtual asset trading platforms are conducted safely, transparently, and with robust investor protections, especially for retail clients. Scope of Staking Services Custody & Safeguards Risk Management Operators must: Client Communication & Transparency Blockchain Protocol & Validator Assessment Recordkeeping & Reporting Read more

  • [ISCA] Auditing Crypto Assets: How To Verify Existence And Ownership

    [ISCA] Auditing Crypto Assets: How To Verify Existence And Ownership

    Wei Xiang

    As of 11 February 2025, the number of financial institutions licensed by the Monetary Authority of Singapore (MAS) to provide Digital Payment Token services has surpassed 30, and it continues to grow. With Bitcoin reaching an all-time high, there is increasing demand to verify the existence and ownership of cryptocurrencies (crypto) in financial audits and… Read more

  • [SOLANA] 2025 Stablecoin Report

    [SOLANA] 2025 Stablecoin Report

    Wei Xiang

    Solana is Emerging as a Leading Platform for Stablecoins Stablecoin Ecosystem on Solana High Transaction Volumes Use Cases Expanding Beyond DeFi Stablecoins on Solana are powering use cases in: Institutional and Ecosystem Support Read more