Regulation & Policy

Elon Musk's social media platform X submitted a remediation plan under pressure from the European Commission, following a €120 million fine for violations including "blue badge certification" issues. The EU pointed out problems including X's paid verification, insufficient advertising transparency, and non-compliant data access.

Dispute over stablecoin reward programs between banks and crypto firms has slowed progress on the Senate Clarity Act. Banks warn rewards could trigger deposit flight, while crypto advocates say evidence of major shifts is limited. Lawmakers including Sens. Alsobrooks and Tillis are

Gate News reports that on March 13, the Bitcoin Policy Institute called for modifications to current U.S. tax rules. Under existing regulations, all payments made using BTC are treated as capital gains transactions, requiring the payment of corresponding taxes. The institute argues that this regulation limits the practical application of Bitcoin as a means of payment.

Hong Kong's first batch of "Stablecoin Issuer License" list will be announced next week. The three main applicants are HSBC, Standard Chartered Bank, and virtual asset platform OSL. This licensing round may favor banks due to their capital strength and regulatory advantages, while OSL possesses rich practical experience. Although rumors suggest the main list is finalized, the actual situation may still change.

The U.S. cryptocurrency industry has long faced regulatory confusion, primarily reflected in the determination of crypto asset classification and the division of regulatory authority. Divergences between the SEC and CFTC have created multiple regulatory challenges for enterprises. Recently, the two agencies signed a memorandum of understanding to begin coordinating efforts to resolve regulatory conflicts and promote the establishment of an adaptive regulatory framework, aimed at forming a comprehensive digital asset regulatory system. This marks a gradual clarification of rule-making in America's digital finance era.

SEC and CFTC signed an MOU to coordinate crypto oversight and align regulatory frameworks across digital asset markets. Agreement supports data sharing, joint enforcement coordination, and clearer guidance for crypto firms. Initiative links to the Harmonization plan and CLARITY Act