U.S. Senator Responds to SBF's Plea for Clemency: If the CLARITY Act Applies, the Sentence Could Exceed 25 Years

Hong Kong stablecoin licensing missed the March deadline, and the Monetary Authority has not provided a new timetable

The Hong Kong Monetary Authority failed to issue stablecoin licenses by the end of March as scheduled, with review delays caused by the high threshold requirements. In addition, state-linked enterprises such as Ant and JD.com have paused their applications due to mainland regulatory pressures, further affecting the approval timeline. The Monetary Authority did not provide a specific schedule, only stating that it is still moving forward with the licensing process.

U.S. Federal Reserve officials: Stablecoin regulation cannot stop at legislation alone; otherwise, a “private currency failure” could happen again.

The Federal Reserve Board member Barr warned of the potential risks of bank runs and money laundering posed by stablecoins, emphasizing that stronger regulation is needed rather than relying solely on the “GENIUS Act.” He said that stability depends on reserve assets and liquidity, and that the problem of illicit capital flows must be addressed. The bill will require follow-up implementing details and coordination across agencies to avoid regulatory arbitrage, and to emphasize finding a balance between promoting innovation and maintaining financial stability.

US senators float ‘Mined in America Act’ to boost BTC mining manufacturing

Two US senators introduced the “Mined in America Act” to promote domestic Bitcoin mining and establish a certification for mining facilities. The bill aims to reduce reliance on foreign manufacturers and enhance US-made mining equipment.

Crypto political action committee appoints Tether executive as chair, as controversy over the U.S. stablecoin policy continues

Crypto Super Political Action Committee Fellowship PAC appoints Tether U.S. executive Jesse Spiro as chair, pushing for action supporting pro-crypto candidates. Meanwhile, the “Digital Asset Market CLARITY Act” is stalled in the Senate, with controversy over stablecoin yield policy affecting the bill’s progress. The crypto industry is stepping up lobbying efforts, seeking a more favorable policy environment.

A certain South Korean CEX postponed its IPO until after 2028, due to internal preparations and regulatory factors

A South Korean cryptocurrency exchange announced that it will postpone its IPO until after 2028 due to the need to improve internal controls and accounting policies, and it is still in the preparation stage. Although it is expected to generate $43 billion in revenue in 2025, internal and regulatory issues have impacted the IPO process.

EDX Markets backed by Charles Schwab, Citadel, and Fidelity applies for a U.S. trust bank license

EDX Markets has applied to the U.S. Office of the Comptroller of the Currency for a national trust bank charter, planning to provide digital asset custody and trading services to strengthen its competitiveness in the crypto industry. This move reflects how the crypto industry is rapidly moving closer to a regulated financial system.