Crypto Breaking

Crypto policy and payments developments across Asia are moving in multiple directions at once: some regulators are tightening rules for digital asset firms, while banks and institutions pursue faster rails for cross-border settlement. Meanwhile, exchange licensing and tokenized finance continue to expand in jurisdictions that are still calibrating how to oversee crypto.
Below is a consolidated look at the week’s key developments—from South Korea and Japan to Pakistan, the UAE, and beyond—focusing on what changed, why it matters, and what to watch next.
Key takeaways
South Korea’s Jeonbuk Bank partnered with Ripple to use a blockchain-based cross-border payments system for business customers.
South Korean lawmakers proposed expanding FIU powers so the Financial Intelligence Unit can investigate suspected violations by unregistered crypto firms.
Japan granted Laser Digital authorization as a crypto asset exchange service provider under the Payment Services Act, marking the first such approval in four years.
Pakistan opened its crypto licensing portal for exchanges and other VASPs, with an NOC submission deadline tied to continued operations.
Singapore and Hong Kong are competing via tax policy changes aimed at attracting fund managers and related investment professionals.
South Korea: payments partnerships and a push to expand FIU oversight
In payments, South Korea’s Jeonbuk Bank said it has partnered with blockchain payments company Ripple to deploy its cross-border payment system for business customers. The service is intended for companies such as import-export firms, technology startups, and online content creators.
Ripple framed the change around remittance speed and cost, arguing that conventional transfers—often routed through intermediary banks using SWIFT messaging—can take several days. By contrast, Ripple said its system would enable faster and less expensive cross-border capabilities for the bank’s commercial clients, positioning blockchain settlement as an operational upgrade rather than a consumer-facing novelty.
Regulatory momentum is also building in South Korea, but in a more enforcement-oriented direction. A group of lawmakers introduced a bill aimed at amending the Act on Reporting and Using Specified Financial Transaction Information to expand the Financial Intelligence Unit’s (FIU) authority over unregistered crypto businesses.
According to the filing reported by Cointelegraph, People Power Party lawmaker Eom Tae-young and nine other lawmakers submitted the proposal. Under the bill, anyone could report suspected violations to the FIU, and the FIU would be able to investigate and analyze alleged breaches, file complaints with relevant authorities, request criminal investigations, or provide information to investigators.
For market participants, the practical takeaway is that oversight capacity could broaden beyond traditional reporting frameworks. If passed, the FIU’s role in gathering and escalating cases involving unregistered entities may increase compliance pressure across the domestic crypto ecosystem—especially for smaller businesses operating without formal registration.
South Korea also moves on market conduct, custody licensing, and virtual asset crime
Separately, South Korean regulators were reported to be scrutinizing Polymarket. The Korea Media and Communications Commission stated Polymarket’s structure and operations amount to illegal gambling, even though it is designed as noncustodial and uses smart contracts.
On the custody side, BitGo Korea reportedly secured VASP registration for institutional crypto custody. The registration was accepted on Tuesday, two days before stricter VASP entry requirements took effect—an important sequencing detail that could affect other firms assessing their compliance timelines.
South Korea also planned new investigative capacity. The Serious Crimes Investigation Agency is set to be formally established in October and will include 2,567 investigators across seven categories, with a dedicated unit aimed at combating phishing and virtual asset crimes. For businesses and users, a targeted unit indicates regulators may treat digital-asset-related fraud and impersonation as a specialized enforcement priority rather than a general cybercrime category.
Finally, the Korea Exchange is expected to open a new fractional investment market—Novel Securities Market—in November. Cointelegraph reported that it will support fractional investments and non-traditional securities such as artworks, real estate, and music copyright, expanding the range of asset types accessible through the exchange infrastructure.
Japan: fresh exchange authorization and more institutional token adoption
Japan remains one of the clearest examples in Asia of how regulated crypto can develop through licensing under the Payment Services Act (PSA). Nomura Group’s digital asset subsidiary Laser Digital received authorization to operate as a crypto asset exchange service provider under the PSA, which Cointelegraph described as the country’s first crypto exchange approval in four years.
According to the Financial Services Agency (FSA) list published on Friday, Laser Digital received the authorization as reported by Cointelegraph. The article noted the last platform to receive FSA authorization was Binance Japan in October 2022, underscoring the long gap between approvals.
For investors and traders, the significance is less about headlines and more about access and compliance: each newly authorized venue can increase choice for Japan-based market participants that prefer regulated counterparties. It also signals that, even after a period of slower licensing, Japan’s framework can still produce new approvals for qualified operators.
Beyond exchange licensing, the Japan coverage also highlighted broader treasury and retail-access experiments. Metaplanet reportedly expanded its Bitcoin treasury strategy to the US through a proposed arrangement with Nasdaq-listed Super League Enterprise, using existing Bitcoin rather than additional purchases. Separately, Cointelegraph reported that Toyota Finance opened tokenized bonds to retail investors via a mobile payment app, allowing applications for a 1 billion yen bond without a securities account and with perks delivered through Toyota’s app. While these are not identical to exchange approvals, they reflect continued movement toward regulated digital finance products and distribution channels.
Pakistan and the UAE: regulated market access expands while token distribution grows
Pakistan’s Virtual Assets Regulatory Authority (PVARA) opened its crypto licensing portal for crypto exchanges and other virtual asset service providers (VASPs) operating in the country. Cointelegraph reported that companies providing virtual asset services on or before March 5 must submit an application for a no-objection certificate (NOC) by Sept. 5 or cease operations.
On its licensing site, PVARA frames the portal as a pathway into a regulated market with standards covering consumer protection, governance, compliance, and market integrity—an approach that aims to make compliance expectations concrete rather than abstract.
In the UAE, Capital.com reportedly plans to offer spot crypto services after its affiliate, Capital Vault, secured a virtual-asset license from the country’s Capital Market Authority (CMA). Cointelegraph reported that once live, UAE clients would be able to buy and hold actual crypto through the Capital.com app, with Capital Vault responsible for execution, custody, and settlement.
In parallel, Bitcoin.com integrated the UAE-registered US dollar stablecoin USDU into a self-custodial wallet. Cointelegraph said the integration expands access to USDU beyond institutional distribution channels, suggesting more routing options for stablecoin users who want direct wallet-based custody rather than relying solely on exchange accounts.
Singapore vs Hong Kong: tax policy as a competition lever for fund managers
Singapore’s Monetary Authority unveiled tax exemptions for fund managers and family offices and expanded a scheme aimed at attracting investment professionals. The government also plans to launch a co-investment scheme for funds that base operations in Singapore, Cointelegraph reported.
The announcement comes as Hong Kong cuts its own taxes for fund managers, reinforcing a regional pattern: crypto-related finance and traditional asset management are now competing through fiscal policy as well as regulatory posture. For industry participants, these changes can affect where teams locate and where investment entities choose to incorporate or operate.
While these measures are not exclusively tied to crypto, they matter because many digital asset strategies sit within broader investment platforms—meaning tax advantages can influence staffing, fund structure decisions, and where compliance infrastructure is built.
With more licensing portals, more targeted FIU authority, and fresh exchange authorizations in play, the next questions are straightforward: which proposed South Korean rules make it through the legislative process, how quickly Japan’s newly authorized operator pipeline expands, and whether Pakistan’s licensing window results in continued market consolidation or a shift toward regulated-only services.
This article was originally published as Ripple Payments Adopted by Korean Bank as Pakistan Issues Crypto Licenses on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Stand With Crypto, the pro-crypto advocacy group launched by Coinbase in 2023, has endorsed 32 candidates for the 2026 US House elections, positioning the slate as part of a broader campaign to influence federal digital-asset policy ahead of the midterms.
In a notice released on Monday, the organization said its endorsements target lawmakers it describes as “proven digital asset policy champions,” with an emphasis on competitive districts where it believes its influence can most directly affect outcomes. Stand With Crypto also framed crypto voters as an increasingly dependable voting bloc during close races.
Key takeaways
Stand With Crypto is backing 32 House candidates for the 2026 midterms based on their digital asset policy positions.
The group says it will focus resources on winnable, competitive races where its advocacy is most likely to sway results.
Stand With Crypto executive director Mason Lynaugh argues crypto voters could “swing” congressional outcomes as candidates look beyond traditional constituencies.
The endorsements arrive amid uncertainty over whether the Senate will advance the Digital Asset Market Clarity (CLARITY) Act before the 2026 election.
Recent political momentum around CLARITY includes calls from President Donald Trump to pass a “fair version,” though questions about conflicts remain in public polling.
A targeted endorsement slate for the 2026 midterms
According to Stand With Crypto, the 32-candidate program is designed to increase pressure on Washington to adopt clearer rules for digital assets. The organization’s framing suggests that endorsements are not simply symbolic, but strategically selected to shape outcomes during the 2026 House elections.
Stand With Crypto executive director Mason Lynaugh said crypto voters are now “durable” and motivated enough to matter in national politics. In his remarks, he linked the group’s push to what he described as a policy “inflection point” for digital assets in Washington—arguing that candidates from both parties may miss an important constituency if they do not engage crypto voters.
The notice also referenced how the advocacy strategy has evolved. Earlier coverage from the period surrounding its debut program noted that Stand With Crypto launched its first wave of endorsements in March. That initial slate included six candidates—three Republicans and three Democrats—each of whom advanced through their primaries to compete in November.
Crypto’s growing role in election spending and lobbying
The political emphasis on digital assets is occurring alongside rising involvement from crypto-related political spending. During the 2024 election cycle, organizations and political action committees backed by crypto companies spent more than $170 million supporting candidates they believed would be favorable to the industry, many of whom won their races, according to the organization’s statement.
Stand With Crypto also claimed that more than 270 “pro-crypto” candidates were sent to Congress in 2025, positioning its endorsement program as part of a continuing effort to shape legislative outcomes on matters affecting the sector. One example highlighted in its notice was the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act.
For investors and market participants, the practical impact of these political efforts typically lies in how Congress responds to key regulatory questions—especially those tied to stablecoins and market structure. Even when bills move slowly, endorsement drives and campaign messaging can influence negotiations, committee priorities, and the willingness of lawmakers to take up complex rulemakings.
CLARITY’s timeline and the Senate’s decision window
Beyond election endorsements, one of the most immediate legislative uncertainties involves the fate of the Digital Asset Market Clarity (CLARITY) Act. The House passed CLARITY in July 2025 with bipartisan support, but the Senate has not advanced it in the same way. The remaining hurdles have included debate tied to ethics considerations as well as questions associated with tokenization and stablecoin rewards.
According to reporting referenced in the notice, CLARITY is expected to face a cloture motion once the Senate returns from recess on Sept. 15. However, the Senate’s calendar appears tight: the chamber would have only 14 days in session before it breaks ahead of the November election.
After the midterms, the Senate is expected to have another 22 days before 2027—creating a later opportunity for senators to return the bill to the House if additional steps are needed. If that pathway holds, CLARITY could still progress to the president for approval, but the timing remains uncertain as the election approaches.
That sequencing matters. For market participants, “delay risk” can translate into continued regulatory ambiguity—especially in areas where exchanges, custody providers, and other intermediaries want clearer rules on how digital assets fit into existing securities and commodities frameworks.
Trump’s call for a “fair version” and questions over conflicts
In the lead-up to the Senate’s next procedural phase, political attention has also focused on statements by President Donald Trump. Stand With Crypto’s broader context included references to Trump urging the Senate to pass a “fair version” of CLARITY alongside crypto industry executives.
Yet, concerns about conflicts can complicate the political environment around the bill. The notice pointed to a poll finding that a majority of Americans said Trump’s crypto investments were not “appropriate.” While public opinion does not determine legislative outcomes by itself, it can influence how senators weigh ethics arguments and how lawmakers respond to pressure from both supporters and critics.
For readers watching CLARITY, the key question remains whether the Senate can align its procedural path—including any amendments or debate around tokenization and stablecoin rewards—within the brief pre-election window. If senators do not move quickly, the legislative timetable may effectively shift the decision toward the post-midterm period.
As the 2026 campaign cycle ramps up, Stand With Crypto’s endorsements will likely serve as one signal of where the pro-crypto policy push is concentrating its political leverage. The most important thing to watch next is whether the Senate can progress CLARITY before the election, or whether the bill’s fate is deferred into the longer 2027 timeline—leaving market participants to navigate continued regulatory uncertainty.
This article was originally published as Coinbase-Linked Advocacy Group Backs Candidates for US Midterms on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Circle is drawing fresh investor attention as analysts at Bernstein argue that USDC is entering a new expansion phase—one that could translate into meaningful momentum for the stablecoin issuer over the next year. In a research note published Monday, the firm pointed to a sharp pickup in USDC supply growth and an improvement in the stablecoin’s role within dollar-backed payments.
Bernstein said USDC is showing signs of what it called “digital dollar reflation” after its supply rose by roughly $2 billion in seven days, reversing a six-month stretch of stagnant or declining growth. The brokerage reiterated an Outperform rating on Circle and a $140 price target, implying about 60% upside from current levels. Circle shares have risen roughly 40% over the past month.
Key takeaways
Bernstein cited a roughly $2 billion USDC supply increase over seven days, calling it “digital dollar reflation.”
The firm maintained a $140 price target on Circle and an Outperform rating, expecting a boost over the next 12 months.
Bernstein said USDC’s transaction presence improved, with its share of adjusted stablecoin volume rising from about 40% in 2025 to more than 60% so far in 2026, surpassing USDt by that metric.
Analysts pointed to catalysts including renewed crypto market activity, clearer US regulation, tokenized capital markets, and stablecoins gaining traction in payments.
Bernstein also noted early signs that AI agents may be using stablecoins in payments.
USDC supply and “digital dollar reflation”
The crux of Bernstein’s bullish case is an apparent shift in USDC’s growth dynamics. After months in which supply growth was described as stagnant or negative, the firm highlighted a sudden acceleration—about $2 billion added to USDC supply in just one week. For investors, that kind of reversal matters because stablecoin supply growth can be a leading indicator of broader on-chain and off-chain usage, which in turn can support the economics of issuance and ecosystem activity.
Bernstein’s note framed the move as “digital dollar reflation,” suggesting that demand for dollar-denominated digital assets may be strengthening again. The firm did not position this as a one-off event, instead describing it as the beginning of a broader growth cycle that could play out over the next year.
Why transaction share may be the bigger story
Beyond supply, Bernstein emphasized USDC’s increasing share of stablecoin transaction activity. While USDC remains the second-largest dollar-backed stablecoin by market capitalization, it trails Tether’s USDt (USDT). Still, Bernstein argued that USDC has gained ground in transactions, not just valuation.
According to the note, USDC’s share of adjusted stablecoin transaction volume rose from roughly 40% in 2025 to more than 60% so far in 2026, overtaking USDt on that measure. That matters because transaction volume is often treated as a proxy for real usage—transfers, swaps, and payments—rather than purely for holding patterns.
Put differently, Bernstein’s thesis suggests a divergence: even if USDC doesn’t lead by market cap, it may be winning by activity. Traders and businesses usually care about that distinction when stablecoins are used for settlement, routing, and payments where liquidity and flow can influence costs and reliability.
What Bernstein says could fuel the next growth cycle
Bernstein attributed the potential next phase of stablecoin growth to several overlapping factors. In its view, improved sentiment toward crypto more broadly could lift demand for stablecoins, while greater regulatory clarity in the United States could remove friction for issuers, partners, and regulated institutions.
The analysts also pointed to the expansion of tokenized capital markets and growing stablecoin adoption for payments. In practical terms, tokenization and payment use-cases can increase stablecoin demand by embedding dollar-denominated tokens into workflows that previously relied on bank transfers, prepaid balances, or legacy settlement rails.
Notably, Bernstein added that there are early signs of stablecoin use in payments made by artificial intelligence agents. While still an early signal, it aligns with a broader market pattern: as automation increases the number of transactions performed by software, stablecoins can become the unit of account for machine-to-machine payments—especially when they need dollar stability rather than crypto volatility.
Circle’s IPO-era volatility and recent fundamentals
Circle’s stock performance has reflected the volatility of public crypto exposure since it went public in June 2025. Bernstein’s note highlighted that the company priced shares at $31 in its IPO and raised roughly $1.1 billion. After an initial surge, the stock retreated toward its IPO level by November 2025 as the wider crypto market downturn weighed on publicly traded companies with sector exposure.
More recently, Circle has continued to report improved financial results. In its most recent quarter, the company reported $701 million in revenue and $48 million in net income, both higher than a year earlier.
For investors evaluating Bernstein’s stablecoin-growth thesis, that backdrop is important: improved operating performance can make it easier for markets to underwrite management’s ability to monetize stablecoin expansion rather than treating it as a purely narrative-driven trade.
Payments, regulation, and the “share of volume” test
Stablecoins sit at the center of several current crypto narratives—regulated dollar settlement, faster payment rails, and the infrastructure layer for tokenized finance. Bernstein’s emphasis on USDC’s transaction share suggests the firm believes the market is now grading stablecoins less on who is biggest by market cap and more on who is being used most in day-to-day activity.
At the same time, the regulatory and adoption catalysts Bernstein cites remain subject to real-world implementation and policy outcomes. That is why the near-term data points investors are likely to watch are continued supply growth, sustained improvements in transaction volume share, and evidence that payments use-cases—whether human-facing commerce or automation-driven transfers—are broadening beyond early experimentation.
For now, the debate centers on whether USDC’s recent supply acceleration and its rising share of transaction volume represent the start of a durable trend. If those metrics continue to climb while Circle’s fundamentals hold up, Bernstein’s “next 12 months” bet could look increasingly credible; if they fade, the market may revert to treating stablecoin growth as cyclical rather than structural.
This article was originally published as Bernstein Flags New USDC Growth Cycle, Sets $140 Price Target for Circle on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Bitget CEO Gracy Chen says she does not view Bitcoin’s recent surge toward the $79,000 area as proof the bear market is finished. In an interview on Trade Secrets, Chen argued that downside could still be ahead and indicated she is prepared to keep a large portion of her own portfolio in stablecoins while waiting for a better entry level.
Chen said she would personally look to buy Bitcoin again if the market drops by more than $25,000 from current levels—pinning that “buyback” zone around $50,000. She also cautioned that she does not have special insight into Bitcoin’s next move, while acknowledging that traders can still debate where the year ends.
Key takeaways
Bitget CEO Gracy Chen is keeping a significant share of her portfolio in stablecoins while monitoring for a possible deeper pullback.
Chen’s personal Bitcoin re-entry level centers around roughly $50,000, rather than assuming the rally marks a lasting floor.
She does not expect her timing to be perfect and explicitly avoids committing to a specific month for a $50,000 move.
Chen says most of her portfolio is Bitcoin and the S&P 500, with small allocations to assets like Ethereum and Solana.
On altcoins, she appears selective—citing Hyperliquid as the one she is currently more bullish on, conditional on regulatory access in the US.
Why Chen isn’t treating $79,000 as the end of the decline
Bitcoin’s climb over the past week has pushed it to levels near $79,000, but Chen’s reaction is cautious. She framed the rally as something that could still be followed by volatility and a meaningful retracement, rather than an automatic signal that the long downturn is over.
In the same interview, Chen described her approach as pragmatic: she is not trying to predict the exact path of an asset known for sharp reversals. Instead, she is watching for a specific kind of opportunity—a pullback she believes could be large enough to justify adding back exposure.
Chen told Trade Secrets that while she is keeping her expectations open, her personal “sort of price” target for a buyback sits around $50,000. She put it in practical terms, saying she could act if Bitcoin falls by more than $25,000 from where it is now.
Importantly, Chen also avoided presenting her view as a broader forecast. She said she lacks any proprietary edge in timing Bitcoin’s unpredictable market and compared herself to an exchange operator rather than an analyst “good at analyzing Bitcoin price,” emphasizing her role in providing a trading venue.
Other traders still see more downside before the next leg
Chen’s caution is not an outlier in crypto circles. The interview surfaced multiple perspectives suggesting that even with Bitcoin up strongly over a short period, deeper drops remain plausible.
Earlier this month, Transform Ventures founder Michael Terpin told Trade Secrets that “we still have more pain to go,” arguing Bitcoin could eventually fall far from its October 2025 all-time high of $126,100. Terpin’s scenario—described in the interview as a potential 66% decline—would imply a move into the “40s.”
Before this week’s rally, veteran trader Peter Brandt similarly pointed to a potential “bottom on Oct. 4,” according to prior coverage cited within the interview.
While these figures differ in magnitude and timing, the common theme is that traders are separating “short-term strength” from “cycle confirmation.” Chen’s stablecoin posture reflects the same idea: wait for price to reach a level that better matches her risk-reward, even if momentum has already improved.
Chen’s Bitcoin plan: no exact date, but an expectation for volatility
Although Chen anchored a buyback area around $50,000, she was careful not to attach a firm timetable to it. She said her own prediction is not meant to be treated as a precise catalyst or schedule.
Chen explained that she does not have a specific month in mind, offering only a range of possibilities—suggesting “later this year might be a good estimate,” but also saying “maybe next year” is possible.
Her stance matters for readers because it highlights a difference between conviction and commitment. Chen’s view is directionally cautious, but she is not claiming certainty on timing—an approach that aligns with how many traders manage uncertainty in a market that can swing quickly.
Portfolio preferences: Bitcoin focus, minimal altcoin exposure
Beyond price levels, Chen’s comments also shed light on how she approaches risk across the broader market. She said that most of her portfolio is split between Bitcoin and the S&P 500, while noting she does not actively trade much because of her responsibilities running a major exchange.
Chen estimated that less than 1% of her portfolio is allocated to Ethereum and Solana combined, reinforcing the idea that her current exposure is relatively concentrated rather than broadly diversified across many major tokens.
She is also openly selective about altcoins. While running a platform that lists many different assets, Chen said she is “not particularly” enamored with altcoins and singled out one asset as currently more compelling: Hyperliquid. She said she is bullish on Hyperliquid (and referenced the HYPE token’s strong move) in the context of a more crypto-friendly regulatory posture toward the network.
The interview further connected Chen’s enthusiasm to a US regulatory development. She stated that if the CFTC finds a way to allow Hyperliquid to enter the US market properly, it would be a major factor in her optimism. The article notes that President Trump indicated this week that CFTC chair Mike Selig was working on allowing Hyperliquid to officially trade in regulated US markets.
Chen also voiced skepticism toward memecoins, saying she believes the market will not repeat a “memecoin season” like in prior cycles because too many retail investors have been burned. Her remark included the idea that “retails are not stupid,” framing her view as a response to investor experience rather than a claim about any one token’s fundamentals.
On the $1M narrative and Bitcoin’s diminishing cycle returns
In addition to short-term trade levels, Chen addressed a longer-running topic on Trade Secrets: whether Bitcoin can realistically reach $1 million by 2030. She said she does not believe it will happen.
Chen referenced Bitcoin’s shrinking returns across its four-year cycles as a central reason. According to her explanation, the ratio between the all-time high in one cycle and the all-time low in that same cycle has been decreasing over time—implying that future cycle rebounds may not scale in the same way as earlier periods.
Her perspective comes alongside broader debate mentioned in the interview, including bullish calls from figures such as Brian Armstrong and Cathie Wood, but Chen’s argument is anchored in a repeated pattern she believes has emerged from past cycles.
For readers, the main takeaway is that even as Bitcoin regains momentum, market participants are still split between “cycle bottom confirmed” and “rally before deeper retracement.” Watch whether Bitcoin can hold above key levels that traders treat as near-term support; just as importantly, pay attention to whether exchanges and regulated access narratives—such as those involving Hyperliquid—continue to shape where liquidity flows across the ecosystem.
This article was originally published as Bitget CEO Says It’s Waiting for Bitcoin’s $50K, Not Chasing Rally on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Circle is catching the attention of Wall Street analysts again, with Bernstein arguing that USDC is entering a fresh growth phase that could lift the company’s performance over the next year. In a research note published Monday, the firm said USDC is showing signs of what it called “digital dollar reflation,” after supply jumped by roughly $2 billion in seven days—an apparent turnaround from a six-month period of stagnant or declining growth.
Bernstein maintained an Outperform rating on Circle and set a $140 price target, implying around 60% upside from current levels. The stock has reportedly risen about 40% over the past month, underscoring how quickly market sentiment can shift around stablecoin issuance and adoption.
Key takeaways
Bernstein cited USDC supply increasing by roughly $2 billion in seven days, reversing a prior stretch of flat or falling growth.
The firm expects a potential “next phase” for stablecoins to be driven by market momentum, U.S. regulatory clarity, and tokenized capital markets.
Bernstein said USDC’s share of adjusted stablecoin transaction volume rose from about 40% in 2025 to more than 60% so far in 2026, overtaking USDt by that measure.
Analysts highlighted early signals of stablecoin payments being used by artificial intelligence agents.
Why Bernstein thinks USDC momentum matters
Stablecoin growth is often measured in multiple ways—issuance, liquidity, and real-world transaction usage. Bernstein’s central argument focuses on issuance acceleration: a $2 billion increase in USDC supply over just one week suggests demand for dollar-denominated on-chain settlement is picking up again. The note frames this as “digital dollar reflation,” implying that the on-chain dollar supply is expanding in a way that may support broader ecosystem activity.
For investors, the implication is straightforward: renewed stablecoin issuance can translate into more business for Circle, particularly if new supply is associated with greater on-chain usage and related enterprise adoption. Bernstein also points to a broader set of catalysts beyond one-week supply growth—elements that, if they materialize, could help make the rebound more durable rather than episodic.
Drivers: regulation, tokenized markets, and payments
Bernstein outlined several potential contributors to a stablecoin “growth cycle.” First, it pointed to renewed momentum in crypto markets, which can raise risk appetite and increase the volume of on-chain activity where stablecoins serve as settlement rails. Second, it highlighted the possibility of greater regulatory clarity in the United States—an area that has long been a variable for stablecoin issuers, exchanges, and payment integrators trying to scale compliant services.
Third, Bernstein linked stablecoin expansion to tokenized capital markets—an umbrella term for the use of tokenized instruments and on-chain infrastructure for financial services. If more of these workflows use stablecoins as a unit of account or settlement asset, transaction volume could increase meaningfully. Finally, Bernstein pointed to growing stablecoin adoption for payments, suggesting that stablecoins are moving beyond trading and into everyday transfer use cases.
The analysts also referenced “early signs” of stablecoin use in payments made by artificial intelligence agents. While still emerging, the idea matters because AI-driven workflows could introduce new automation patterns for transfers—potentially increasing the frequency and diversity of stablecoin payment demand over time.
USDC’s transaction share rises while USDt slips in that metric
Although USDC is still the second-largest dollar-backed stablecoin by market capitalization—behind Tether’s USDt—Bernstein argued that USDC is gaining ground in actual transaction activity. According to the firm, USDC’s share of adjusted stablecoin transaction volume rose from roughly 40% in 2025 to more than 60% so far in 2026. On that basis, USDC has reportedly overtaken USDt.
This distinction is important because it separates “size” from “usage.” A stablecoin can lag in total market cap yet still lead in transaction throughput if it becomes the preferred settlement asset for certain applications or platforms. For Circle, a rise in transaction share can signal improvements in distribution, integrations, and user behavior—even if headline supply growth is the first datapoint drawing attention.
Circle stock performance and fundamentals since IPO
Bernstein’s bullish view arrives during a period of noticeable stock volatility for Circle. The company went public in June 2025, pricing its shares at $31 and raising about $1.1 billion in its initial public offering. After a strong early period, the shares slid back toward their IPO level by November 2025 as broader crypto market weakness weighed on publicly traded companies exposed to the sector.
Despite that volatility, Circle has continued to report improving results on an annual comparison basis. In its most recent quarter, the company reported $701 million in revenue and $48 million in net income, both up from a year earlier. The persistence of year-over-year improvement can matter for how equity markets interpret a stablecoin growth rebound—especially when traders are trying to balance short-term issuance trends against longer-term profitability.
As stablecoin demand patterns evolve, investors may focus not only on supply but also on which networks and use cases drive transaction volume. Bernstein’s emphasis on USDC overtaking USDt on adjusted transaction share suggests that, at least for now, usage dynamics are shifting in Circle’s favor.
What to watch next is whether the “digital dollar reflation” signals translate into sustained growth beyond a one-week supply jump—particularly as policy clarity and payment and tokenization adoption progress. If USDC continues to lead transaction share while issuance remains steady, Bernstein’s thesis could gain more traction; if not, the current rebound may prove temporary.
This article was originally published as Bernstein: USDC growth could restart; sets $140 Circle target on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Stand With Crypto, an advocacy group launched by Coinbase in 2023, has endorsed 32 candidates for U.S. House races ahead of the 2026 midterm elections. The group says the move is designed to shape federal digital-asset policy by backing lawmakers it views as credible champions for the sector.
In a notice issued Monday, Stand With Crypto framed its candidate slate as part of a broader effort to mobilize “crypto voters,” arguing that digital-asset issues may become more influential in close races where candidates seek support beyond traditional political constituencies. The organization’s executive director, Mason Lynaugh, said the timing reflects what he called an inflection point for crypto policy in Washington.
Key takeaways
Stand With Crypto endorsed 32 House candidates for the 2026 midterms based on their stated digital asset policy views.
The group is targeting competitive races where it believes its influence is most likely to matter for outcomes.
Stand With Crypto argues crypto voters are becoming a durable bloc that can affect tight congressional elections.
The push lands as the Senate’s next steps on the Digital Asset Market Clarity (CLARITY) Act remain uncertain.
A targeted endorsement strategy for 2026
Stand With Crypto said its slate is intended to influence how digital assets are regulated and overseen at the federal level. The group did not present a full list of criteria in the notice excerpt, but it characterized the backed candidates as “proven digital asset policy champions” and emphasized its focus on races most likely to swing based on its outreach.
The endorsement announcement follows earlier activity from the organization. It previously unveiled initial endorsements in March as part of its broader midterm plan, describing a battleground approach meant to help candidates move from their primaries into the November election. According to the notice, that initial tranche included three Republicans and three Democrats who advanced to the general election.
While the group’s messaging is political, it arrives in a wider environment where crypto-linked spending has increasingly intersected with U.S. election cycles. During the 2024 election cycle, organizations and political action committees backed by crypto companies spent more than $170 million to support candidates they believed would be favorable to the industry, and many of those candidates won, according to the notice.
Why the midterms matter for crypto legislation
Stand With Crypto’s endorsement push is anchored to the argument that congressional elections can determine whether major crypto policy proposals move forward. The group pointed to the 2025 flow of pro-crypto candidates into Congress, claiming that more than 270 such candidates were sent to Washington in 2025—an outcome the organization linked to potential progress on legislation, including the GENIUS Act, which concerns stablecoin-related frameworks.
For investors and builders, the practical implication is straightforward: crypto policy is still shaped less by broad market narratives and more by whether specific bills gain traction in both chambers and the extent to which lawmakers treat digital-asset regulation as a near-term priority. In that sense, the group’s focus on competitive House seats fits a common legislative dynamic—narrow margins in the House can change committee influence and voting outcomes.
At the same time, the organization’s claims about crypto voters being a “durable, motivated” bloc reflect a strategic bet: that voters attentive to digital-asset issues may be sufficiently organized to affect campaigns even when crypto does not dominate national headlines.
CLARITY still faces timing risk in the Senate
Separate from the endorsement slate, the legislative timeline for one of the sector’s key policy proposals remains a live issue. The Digital Asset Market Clarity (CLARITY) Act, which the House passed with bipartisan support in July 2025, is still pending in the Senate. The notice highlights that Senate discussions have included topics such as ethics requirements, tokenization provisions, and stablecoin rewards.
Under the current schedule described in the coverage, CLARITY is expected to be considered through a cloture motion once the Senate returns from recess on Sept. 15. However, the Senate would have only 14 days in session before breaking ahead of the November election, creating a narrow window for the bill to advance.
After the midterms, the Senate would have another 22 days before 2027 to bring CLARITY back to the chamber. If the bill reaches final action in that later period, it could then return to the House and ultimately move to the president for approval.
The notice also points to political pressure on the Senate in the immediate term. Earlier coverage cited the president, Donald Trump, standing alongside several crypto CEOs and executives to urge lawmakers to pass what he described as a “fair version” of CLARITY. That push, however, may face credibility hurdles given the broader public scrutiny around Trump’s financial ties to the industry, with a cited poll showing a majority of Americans calling those crypto investments not “appropriate.”
For market participants, these dynamics matter because the Senate calendar and the bill’s handling—whether it can be processed in time to clear major procedural hurdles—could determine whether a clearer regulatory structure arrives before or after the 2026 election cycle. Even when legislation is broadly supported, procedural delays can push outcomes into later sessions and lengthen uncertainty around implementation.
What to watch next
As the 2026 midterm clock moves forward, attention should track not only which candidates Stand With Crypto supports, but also whether CLARITY can progress through the Senate in the limited post-recess window. The biggest open question for the next phase of U.S. crypto regulation remains timing: whether lawmakers can convert the legislative momentum already shown in the House into Senate action before politics and procedural constraints reshuffle priorities.
This article was originally published as Coinbase-Linked Group Backs US Midterm Candidates Ahead of Vote on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Bitcoin reclaimed the $80,000 level on Monday, pushing through a key psychological and technical milestone after last week’s sharp rally drew fresh momentum from traders. The breakout marked BTC’s first trade above $80,000 since mid-May, with price up roughly 3% at the time of reporting before easing after the European session.
As the market tested higher levels, activity on leveraged venues also picked up—most notably in short liquidations—underscoring how crowded positions may have been forced to unwind during the advance.
Key takeaways
BTC/USD moved above $80,000 for the first time since May 15, ending a more than three-month absence from that range.
CoinGlass data showed crypto short liquidations passed $220 million over the prior 24 hours as Bitcoin approached the $80,000 mark.
Support appears to be clustering around the mid-$70,000s, with a bid liquidity band centered on $76,700, according to a CoinGlass liquidation heatmap.
Analyst Rekt Capital said the “real test” will be whether Bitcoin can sustain strength, pointing to the 50-week exponential moving average near $77,251.
Bitcoin breaks back above $80,000 for the first time since May
TradingView charts showed BTC/USD crossing $80,000 for the first time since May 15, reaching the level during the Wall Street open. The move came alongside another roughly 3% gain on the day before pullbacks occurred following the European close, suggesting the market was still digesting the breakout rather than entering immediately into a smooth trend.
This return matters because it represents more than a single price point. Levels around $80,000 have historically functioned as both a reference for market positioning and a threshold traders watch for continuation signals. When Bitcoin re-enters a range it previously failed to hold for months, it can quickly shift expectations for whether the market is simply rebounding or genuinely transitioning to a stronger phase.
Short liquidations surge as leveraged traders unwind
Higher prices drew in additional leverage-related activity. According to CoinGlass, crypto short liquidations exceeded $220 million over the preceding 24 hours at the time of writing. While liquidations can occur in both directions, large short liquidation bursts typically accompany fast upward moves as price rallies force shorts to cover.
CoinGlass also highlighted a liquidation heatmap feature: a band of bid liquidity centered around $76,700. In practical terms, that cluster can act as a near-term “gravity point” during pullbacks—buyers who respond to forced liquidation dynamics may help slow a downside reversal if price falls back toward that zone.
Still, it’s important to remember that liquidation clusters are reactive, not predictive. They can help explain why certain retracements stabilize, but they don’t guarantee that a move back down will be limited or that new support will permanently hold.
The focus shifts from rally to “staying power”
Even with Bitcoin returning to a key higher range, market observers emphasized that sustaining the breakout is the real challenge. Earlier coverage from Cointelegraph had flagged concerns among some traders that bearish market patterns could reassert themselves later in the year, with downside potentially returning from September onward to trigger broader capitulation to new macro lows.
In that context, the latest push above $80,000 looks less like a finish line and more like the opening stage of a longer test. Rekt Capital, a trader and analyst, argued in his market commentary that Bitcoin must prove it can hold those levels. He pointed out that Bitcoin has closed the week at the highs and framed the next phase as a “real test” for whether strength persists.
“Bitcoin has Weekly Closed at the highs. Now starts the real test,”
Rekt Capital also cautioned that if the rally is only a “bear market relief” bounce, Bitcoin could pull back as early as the current week or within the following few weeks. That distinction—relief rally versus durable trend—has major implications for traders and portfolio managers because it changes expectations around volatility, timing of entries, and the likelihood of retesting lower ranges.
Key technical level in view: the 50-week EMA
Rekt Capital highlighted one technical benchmark in particular: the 50-week exponential moving average, currently around $77,251. He noted that Bitcoin achieved its first weekly close above that trend line since November 2025.
He also drew a comparison to the 2022 bear market, when BTC/USD managed two weekly closes above the same type of trend line before subsequently dropping to cycle lows. The point of the comparison isn’t to claim a repeat outcome, but to show how quickly markets can revert when trend-breaking closes occur without sustained follow-through.
For investors watching this level, the near-term question becomes whether price can remain above a widely tracked dynamic benchmark long enough to change market structure. If Bitcoin continues to close above the 50-week EMA and keeps higher levels defended on retracements, it would strengthen the case that the rebound is progressing into something more persistent. If not, the market may revert back toward the mid-$70,000s where liquidation-driven support has begun to form.
Next, traders are likely to monitor whether Bitcoin can hold above $80,000 on subsequent sessions and, more importantly, whether weekly closures continue to support the breakout thesis. The debate between “relief rally” and “sustained strength” will likely hinge on follow-through around the 50-week EMA near $77,251 and how price behaves during pullbacks toward the liquidation liquidity band centered at $76,700.
This article was originally published as Bitcoin Near $80K as 24-Hour Crypto Short Liquidations Top $220M on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Strive Asset Management has made its latest Bitcoin purchase, according to a filing with the U.S. Securities and Exchange Commission. The Nasdaq-listed company bought 1,110 BTC during the week of Aug. 17 through Aug. 21, spending about $81.5 million in total and bringing its Bitcoin treasury to 21,356 BTC.
The purchase price averaged $73,409 per Bitcoin, inclusive of fees and expenses, based on the company’s disclosures. As of the same period, Strive reported that its cash and cash equivalents increased by $17.1 million to $171.9 million, while its Class A shares outstanding rose by 3.65 million to 79.89 million.
Key takeaways
Strive purchased 1,110 BTC for about $81.5 million between Aug. 17 and Aug. 21, per its SEC filing.
The average all-in cost was $73,409 per Bitcoin, with Strive adding to a total holding of 21,356 BTC.
Bitcoin was trading around $79,000 on Monday, roughly 8% above Strive’s reported average purchase price for the latest buys.
Company data cited by BitcoinTreasuries.NET places Strive among the largest publicly traded corporate Bitcoin holders.
Separately, Strive’s SATA preferred stock returned to its $99-to-$101 trading corridor after dipping earlier in June.
Another corporate Bitcoin buy—and what the pricing implies
In the SEC filing, Strive details how it executed the most recent tranche of Bitcoin purchases. The company’s average cost—$73,409 per BTC including fees and expenses—was below the approximate $79,000 level at which Bitcoin traded on Monday, according to the article’s market reference. That gap suggests Strive acquired the latest Bitcoin inventory at a discount relative to the spot price at the start of the following trading day, though investors will be watching how the treasury’s realized cost basis compares as new purchases continue.
The timing also matters for corporate-holding strategies that aim to maintain a consistent allocation rather than attempt precise market timing. Strive’s cash position, which rose to $171.9 million, indicates it had room to continue deploying capital into its treasury approach during the covered week. At the same time, growth in Class A shares outstanding to 79.89 million points to ongoing corporate balance sheet activity beyond the Bitcoin buy itself.
BitcoinTreasuries.NET data, cited alongside the filing, ranks Strive as the seventh-largest publicly traded corporate Bitcoin holder, positioning it behind Bullish and ahead of SpaceX. For traders, that kind of ranking can be more than trivia: it can influence investor perception around liquidity, follow-on demand, and how visible corporate BTC strategies are to the broader market.
Strive links the strategy to “scarcity” and share structure
Alongside the purchase news, Strive’s CEO Matt Cole framed the company’s broader thesis in terms of relative scarcity and how Strive’s share structure is intended to participate. In a post on X ahead of Monday’s market open, Cole said the “upside” is not only tied to Bitcoin moving higher, but to Bitcoin “becoming the fastest horse inside an expanding scarcity trade,” adding that $ASST is “structured to amplify” that outcome while remaining “responsibly” supported.
This is essentially an investor-facing explanation of why the treasury strategy is paired with the company’s capital structure. Investors should treat such statements as strategic framing—not performance guarantees—while monitoring how the firm actually funds purchases and how its market-linked products behave during BTC volatility.
Beyond Bitcoin: SATA preferred stock returns to its target range
While the Bitcoin purchase grabbed attention, Strive’s other major development was movement in its SATA preferred stock. The filing context notes that SATA closed at $100.01 on Friday, returning to a management targeted trading range of $99 to $101 after trading as low as $83.30 in late June.
According to the article, Strive previously narrowed SATA’s targeted corridor from $95–$105 to $99–$101 in March. Around that time, the company also stated it would not issue SATA through at-the-market or follow-on offerings below $100, a commitment that is designed to limit dilution at prices the company considers off-target.
SATA was launched in November 2025, initially selling 2 million shares at $80 each for $160 million in gross proceeds. The preferred stock is described as variable-rate and perpetual, with a stated amount and an initial liquidation preference of $100 per share—key features that differentiate it from Strive’s common equity.
Functionally, SATA is intended to operate as an income-focused instrument. The variable dividend rate is meant to encourage trading near $100, and the article notes Strive raised the annualized dividend rate to 13% in April. It also switched from monthly to daily dividend payments beginning June 16, referencing an SEC filing for the change in payment schedule.
How SATA compares to Strategy’s STRC
SATA is presented as similar to STRC, the variable-rate perpetual preferred stock issued by Strategy, which is widely regarded as the largest corporate Bitcoin holder. The article states STRC traded near $97 on Monday, below Strategy’s $100 target, while Strategy reported no Bitcoin purchases for the week ended Aug. 23.
For market participants, this comparison is useful because both SATA and STRC are designed to tie investor outcomes to corporate Bitcoin holdings while using dividend mechanics to influence preferred-share pricing. If Strategy is paused on new purchases while Strive is actively adding BTC, the relative behavior of their preferred instruments could become a proxy for how markets are weighing treasury accumulation versus dividend/rate adjustments.
However, investors should be careful not to assume one day’s price action directly reflects the treasury’s longer-term economics. Preferred stocks can respond to yield expectations, liquidity, and broader risk sentiment, and variable-rate structures can shift quickly as dividend calculations change.
Next, readers should watch whether Strive continues its steady cadence of Bitcoin purchases and how that activity filters into the market’s expectations for both ASST and its preferred share suite. The sustainability of SATA staying near the $100 corridor will also be important, especially if Bitcoin volatility increases or if Strive’s treasury strategy funds new buys alongside changes in dividends and share issuance.
This article was originally published as Strive Acquires 1,110 BTC for $81.5M, ASST Shares Jump 11% on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Two major crypto advocacy groups, the Crypto Council for Innovation (CCI) and the Blockchain Association (BA), have filed a lawsuit challenging Illinois’ new 0.2% tax on cryptocurrency transactions. The measure is expected to take effect in January 2027 and is designed to tax crypto users based on transaction volume rather than income.
The legal challenge, filed Friday in Illinois’ Circuit Court for the Seventh Judicial Circuit in Sangamon County, argues the tax violates multiple constitutional and statutory protections, including provisions related to due process and interstate commerce.
Key takeaways
CCI and BA filed suit in Sangamon County against Illinois officials over the state’s 0.2% digital asset “privilege tax.”
The groups say the law is constitutionally problematic, including arguments that it is unconstitutionally vague and risks duplicative taxation.
Illinois enacted the tax in June as part of its fiscal year 2027 budget, with enforcement anticipated to begin in January 2027.
The lawsuit follows earlier litigation by another industry group, the Digital Chamber, which raised similar discrimination concerns.
Illinois’ crypto-related push has also intersected with high-profile prediction market litigation and policy actions earlier this year.
Illinois’ transaction-volume tax faces constitutional challenges
According to the lawsuit filed by CCI and BA, Illinois’ digital asset tax was enacted by Gov. JB Pritzker in June as part of the state’s fiscal year 2027 budget. The measure was signed as a “privilege tax,” and—critically—its structure is intended to apply to transaction volume rather than income.
In the complaint, the groups allege the tax is unconstitutional under the U.S. Constitution and the Illinois state constitution, and they also invoke claims tied to federal and state due process requirements. They further argue that the tax conflicts with the federal Internet Tax Freedom Act.
On the due process question, CCI and BA contend the law is “unconstitutionally vague,” focusing on how residents and brokers would be expected to determine which digital assets fall under the tax—and how those assets should be treated for reporting and compliance—while facing “serious civil and criminal penalties” for mistakes.
The lawsuit’s constitutional argument also highlights what the groups describe as the potential for duplicative taxation. Their Commerce Clause theory rests on the claim that the tax “creat[es] the specter of duplicative taxation,” particularly in the context of a digital asset economy that relies heavily on cross-border activity.
Why the “vagueness” and compliance pressure matters
Beyond the headline rate, the lawsuit underscores a practical compliance concern: if rules are unclear, businesses and individuals can be left guessing. CCI and BA argue the Illinois law shifts that burden onto residents and intermediaries under the threat of substantial penalties.
That claim matters for traders, platforms, and service providers because transaction-volume taxes can require robust tracking, classification, and reporting. If tax categories or the mechanics of how assets should be treated are ambiguous, the compliance workload—and the risk of enforcement—can rise quickly, even before the first tax period begins in January 2027.
At the same time, the groups’ Commerce Clause argument signals a broader investor and operator concern: state-level taxation of digital commerce can become fragmented when each jurisdiction applies its own standards to the same underlying economic activity.
Summer Mersinger, CEO of BA and a former U.S. Commodity Futures Trading Commission commissioner, said in connection with the lawsuit that while states may have a role in fostering innovation, their authority has constitutional limits. She argued Illinois cannot impose a tax regime that discriminates against digital commerce, creates uncertainty for consumers and businesses, and threatens to fragment a “rapidly growing national market.”
Illinois crypto tax opposition builds on earlier lawsuits
CCI and BA’s filing did not arrive in a vacuum. The complaint follows a July lawsuit from the Digital Chamber that challenged the Illinois tax on the grounds that it “discriminates against people who transact in digital assets.” Taken together, the cases highlight how industry groups are framing the Illinois tax as both a constitutional and policy issue—rather than merely a technical revenue measure.
Cointelegraph previously reported on the Digital Chamber’s suit, which the new CCI/BA action closely parallels in its focus on discriminatory effects. The two initiatives also reflect the increasing influence of digital asset industry organizations during an election year, when state-level policy changes can influence voter perceptions and broader regulatory direction.
For Illinois residents and crypto participants, the timeline is important: the state approved the tax in June, but enforcement is slated to begin in January 2027. That lag means legal outcomes could shape whether the tax ultimately takes effect as written, gets narrowed, or is delayed further.
Illinois also faces prediction-market fights and related policy steps
Illinois’ crypto and crypto-adjacent policy agenda has faced additional scrutiny beyond taxation. Earlier this year, prediction market platform Kalshi sued Illinois officials over a law that took effect on July 1. According to Kalshi, the legislation “expressly bans sports event contracts” and requires state licensing in a way that the company argues violates federal law.
Separately, Cointelegraph reported that Pritzker signed an executive order in April banning state employees from betting on prediction markets. The stated goal was to “prevent insider trading” amid the growth of online prediction markets and event-based gambling contracts.
While Kalshi’s case concerns prediction markets rather than the 0.2% crypto tax directly, it signals a larger theme: Illinois appears to be actively reshaping how parts of the digital economy intersect with traditional state regulation—whether through taxation, licensing rules, or employment restrictions designed to address perceived conflicts.
For crypto market participants, these parallel legal and policy threads raise the stakes around compliance expectations and the scope of state authority. Even if the tax case proceeds independently from prediction-market litigation, the combined environment can affect sentiment, operational planning, and how platforms assess regulatory risk in Illinois.
As the CCI and BA case moves through Illinois courts, investors and builders should watch how the court addresses the lawsuit’s constitutional theories—particularly the due process and Commerce Clause arguments. The outcome could clarify what states may require for digital asset taxation, and whether Illinois’ transaction-volume approach can survive legal scrutiny before January 2027.
This article was originally published as Crypto Advocacy Groups Challenge Illinois Digital Asset Tax in Court on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Polish prosecutors have reportedly charged Przemysław Kral, the head of the collapsed cryptocurrency exchange Zondacrypto, in connection with an alleged large-scale fraud, and he has started cooperating with investigators, according to reporting from Onet.
Onet says Kral is seeking a reduced sentence in exchange for testimony that could include details about how Zondacrypto funding was linked to right-wing political figures in Poland. Prosecutors estimate that Zondacrypto customers lost at least 2.4 billion Polish zlotys (about $650 million), and investigators allege that only part of customer funds was used to buy crypto, while the remainder was moved to private accounts controlled by exchange managers.
Key takeaways
Przemysław Kral of Zondacrypto has reportedly been charged and is cooperating with Polish prosecutors.
Prosecutors estimate customer losses at least 2.4 billion zlotys (about $650 million).
Investigators allege Zondacrypto used only a portion of customer funds to purchase crypto and diverted the rest to private accounts.
Kral is reportedly trying to secure a reduced sentence through testimony, potentially touching on alleged exchange-related political funding.
Earlier public statements included a claim that Zondacrypto could not access a cold wallet holding roughly 4,500 Bitcoin.
Cooperation talks and the alleged damage
Onet reports that prosecutors estimate Zondacrypto customers lost at least 2.4 billion zlotys. The outlet also states investigators believe the exchange did not preserve customer money in full, but instead used only part of customers’ funds to buy cryptocurrency, with additional amounts allegedly transferred to private accounts under the control of Zondacrypto’s managers.
According to Onet, Kral began exploring cooperation conditions weeks ahead of the reported charge outcome. The outlet previously reported that he had been negotiating the terms of possible collaboration with prosecutors for about six months.
That reporting also described informal meetings between Kral and prosecutors in Poland as well as in locations including Sicily and parts of the Persian Gulf, where discussions reportedly focused on the structure of a potential deal.
Allegations tied to political connections
In the newest Onet report, the outlet says Kral is seeking a lighter sentence by offering testimony that could include details about alleged Zondacrypto involvement with funding right-wing politicians.
The political angle is not new to the Zondacrypto case. Onet previously reported that Zondacrypto had acted as a key sponsor of Poland’s Conservative Political Action Conference (CPAC) shortly before the second round of the presidential election, which was won by Karol Nawrocki.
Onet also notes that in its final year, Zondacrypto spent 37 million zlotys on advertising with broadcaster Telewizja Republika. The outlet further claims that companies owned by Kral made payments to foundations linked to politicians Zbigniew Ziobro and Przemysław Wipler.
What Kral said earlier about the missing Bitcoin
Since mid-April, Kral has remained publicly silent on X after disclosing that Zondacrypto was unable to access a cold wallet reportedly holding about 4,500 Bitcoin. Earlier coverage from Cointelegraph noted the wallet access issue and described the resulting withdrawal crisis.
Kral has denied accusations of misappropriating customer funds. He said the private keys for the wallet were intended to have been transferred by Zondacrypto founder and former CEO Sylwester Suszek, who has been missing since 2022.
That explanation has been central to how the case has been discussed publicly: rather than conceding fund loss, Kral pointed to an alleged custody and key-transfer failure involving Suszek. Prosecutors’ latest estimates and alleged diversion of funds, as described by Onet, suggest investigators view that narrative differently.
Unanswered questions as the probe expands
As the case moves into the cooperation phase, several issues remain unclear based on the available reporting. Onet’s claims focus on the scale of customer losses and the alleged path of diverted funds, but they do not establish in detail how investigators quantify losses or reconcile them with any remaining assets, including the purported cold wallet.
Cointelegraph reported that it was unable to reach Kral or Zondacrypto for comment. The outlet said email addresses connected to the exchange were unavailable after Kral’s April disclosure about the wallet access problem.
For investors and market participants, the Zondacrypto situation underscores a persistent pattern seen in major exchange collapses: customer assets may be at risk not only through outright theft, but also through custody failures, opaque internal controls, and use of funds in ways that do not align with client expectations. The investigation’s alleged findings—customers’ funds being partially used for purchases while the rest allegedly moved to private accounts—highlight why transparency around wallet management and auditability matters, especially in jurisdictions where recovery and enforcement can take time.
Readers should watch next for what Kral’s cooperation ultimately produces in court filings—particularly whether testimony about alleged political funding is corroborated by evidence and how prosecutors account for the missing Bitcoin and any other recoverable funds. The case also raises broader questions about how regulators and law enforcement will evaluate the relationship between exchange operations, third-party entities, and political influence when rebuilding trust after a collapse.
This article was originally published as ZondaCrypto CEO Seeks Leniency to Testify on Political Links: Report on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Intelligent Finance for a Digital-First Economy
17 September 2026 | Johannesburg, South Africa
Johannesburg, 3 July 2026: As organisations across South Africa adopt digital technologies, accelerate digital initiatives, advance digital capabilities, navigate economic uncertainty, and adapt to an increasingly data-driven business environment, the role of the Chief Financial Officer has evolved far beyond traditional financial stewardship. Today’s finance leaders are expected to guide capital allocation, strengthen liquidity management, improve forecasting accuracy through FP&A and predictive analytics, oversee enterprise risk, and lead the adoption of AI and digital finance technologies that support informed business decision-making.
The CFO Leadership Summit South Africa, taking place on 17 September 2026 at Focus Rooms – Universe, Johannesburg, is set to convene South Africa’s prominent finance leaders, CFOs, and industry experts to discuss how CFOs are strengthening financial resilience, improving capital efficiency, modernising finance operations, and preparing organisations for an increasingly data-driven economy. As one of the region’s prominent gatherings of finance executives, the summit will bring together over 200 CFOs, Finance Directors, Group Finance Executives, Controllers, Treasury Leaders, Risk & Compliance Heads, Tax Leaders, Digital Finance Experts, business leaders, and technology innovators to explore the strategies, technologies, and leadership approaches shaping the future of finance.
Designed as a major platform for sharing insights and executive networking, the summit will facilitate discussions among senior finance professionals, industry experts, and solution providers committed to supporting finance transformation. Through keynote presentations, executive panel discussions, fireside conversations, and interactive sessions, attendees will gain practical insights into AI-powered finance, modern FP&A, treasury optimisation, automation, ESG reporting, regulatory compliance, and enterprise risk management.
Redefining Finance Leadership in the Digital Era
South African organisations are navigating economic uncertainty, rising operating costs, evolving regulatory requirements, and rapid advances in AI and automation. As finance teams respond to these challenges, CFOs are increasingly focused on improving forecasting accuracy, optimising liquidity, strengthening governance, and using real-time financial data to support faster business decisions. The summit has been designed to showcase practical case studies, implementation strategies, and lessons from organisations leading finance transformation.
With an agenda focused on emerging finance trends designed for finance and business leaders, the summit will spotlight the key trends transforming modern finance.
Strategic discussions will include
Architecting Financial Agility in an increasingly volatile and unpredictable economic landscape
Managing Cash Flow, Controlling Costs, and Optimising Liquidity Through Intelligent, Data-Driven Financial Strategies to Navigate Persistent Inflationary and High-Cost Business Environments
Advancing Precision Finance through Real-Time FP&A, Predictive Analytics, and Data-Driven Decision-Making
Redefining the CFO’s Role as a Growth Architect through strategic capital allocation and value creation
Evolving from a compliance function into a source of competitive advantage
Integrating ESG and Sustainable Finance to drive long-term profitability, cash flow, and operational efficiency beyond regulatory compliance
These discussions will provide finance leaders with practical approaches to improving forecasting accuracy, strengthening liquidity, modernising finance operations, adopting AI responsibly, and supporting sustainable business growth.
A Platform Where Finance Leaders Drive Business Transformation
The summit will feature a notable line-up of experienced CFOs, senior finance executives, digital transformation leaders, and industry experts representing some of South Africa’s most respected organisations. As a CFO Summit, the event will provide delegates with case studies on finance automation, AI adoption, FP&A modernisation, treasury management, ESG reporting,
regulatory compliance, and enterprise risk management.
Beyond the conference sessions, the event will offer networking opportunities, enabling senior executives to establish professional connections, exchange ideas with peers, explore AI, FP&A, treasury, ERP, analytics, and finance automation solutions.
Learn from South Africa’s prominent Finance Visionaries
Mikaeel Tayob- Regional CFO, Bridgestone Middle East & Africa
Polani Sokombela- Chief Financial Officer, Auditor-General of South Africa
Qiniso Mthembu– Chief Financial Officer, Johannesburg Stock Exchange
Akesh Bansee- Chief Financial Officer, Unilever
Bradley Wentzel- Chief Financial Officer, Barloworld Equipment
Event Details
Event: CFO Leadership Summit South Africa 2026
Date: 17 September 2026
Time: 9:00 am – 5:00 pm
Venue: Focus Rooms – Universe, Johannesburg, South Africa
About Exito Media Concepts
Exito stands for “success,” a principle reflected in every experience we create. With over 16 years of expertise, Exito Media Concepts is a globally recognised B2B events organisation delivering more than 240 conferences annually across technology, cybersecurity, digital transformation, healthcare, finance, human resources, and other emerging enterprise sectors.
Through carefully curated agendas, globally recognised speakers, and market-driven insights, Exito creates high-impact platforms that foster strategic collaboration, accelerate innovation, and enable business leaders to address the evolving challenges of their industries.
For more details on the CFO Leadership Summit South Africa 2026, visit:
https://cfoleadershipsummit.com/south-africa/
For Media Enquiries, please contact:
Ashrith Shetty | Senior Marketing & PR Executive, Exito Media Concepts Email: ashrith.shetty@exito-e.com
This article was originally published as CFO Leadership Summit South Africa Announces Its 27th Edition on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Bringing Together HR Leaders to Shape the Modern Workplace in South Africa
16th September 2026 | Johannesburg, South Africa
Johannesburg, 3 July 2026: As South Africa’s business landscape evolves in response to rapid technological advancement, changing workforce expectations, and increasing economic complexity, the role of Human Resources has become more strategic than ever before. Today, HR leaders are responsible for workforce planning, leadership development, employee experience, skills transformation, and building organisational capability while aligning people strategies with business priorities.
Recognizing the critical role of HR in shaping the evolving workforce, Exito Media Concepts, a global B2B events organiser, announces the 5th Edition of HR World Summit South Africa 2026, taking place on 16 September 2026 at Focus Rooms – Universe, Johannesburg. Designed as a platform for industry discussions and networking, the summit will bring together more than 200 CHROs, HR Directors, People & Culture Leaders, Talent Acquisition Heads, Learning & Development Executives, Employee Experience Specialists, business leaders, and solution providers to discuss workforce planning, leadership, talent strategy, and the future of work.
Through keynote presentations, panel discussions, fireside conversations, and interactive sessions, attendees will explore strategies for addressing today’s workforce challenges and preparing organisations for AI adoption, evolving workforce expectations, and future skills requirements. The summit offers HR leaders an opportunity to exchange ideas, build strategic partnerships, and explore current workforce trends.
Shaping the Next Chapter of Work and Leadership
organisations across South Africa are adapting to rapid technological advances, changing workforce expectations, and shifting business priorities. Technologies such as artificial intelligence (AI), automation, and data-driven decision-making are redefining how organisations operate, compete, and manage their workforces.
To remain adaptable, organisations must rethink traditional approaches to leadership, talent management, learning, employee wellbeing, and organisational culture. HR leaders are integrating AI into HR processes, strengthening employee engagement, expanding learning and development initiatives, and building skills needed for an increasingly digital workplace. The summit agenda addresses these priorities through industry discussions, case studies, and real-world examples.
The agenda focuses on the key workforce priorities shaping HR strategy across South African organisations.
Key discussions will include:
Navigating Work, Leadership, and Innovation in a rapidly changing business landscape
Exploring the role of Artificial Intelligence in HR and workforce planning
Strengthening employee wellbeing and workforce engagement
Building skilled workforces for an evolving world of work
Developing strategies to attract, retain, and develop talent
Building a culture of continuous learning and skills development
Learning from CHROs on people, culture, and change management
Creating inclusive workplaces that support innovation and organisational performance
These discussions will provide practical insights, case studies, and proven approaches that HR leaders can apply across talent management, leadership development, employee experience, and workforce planning.
A Platform Where HR Leaders Shape the Future
The summit will provide delegates with practical examples of workforce transformation, leadership development, HR technology adoption, and people strategy from organisations across
South Africa.
Alongside the conference sessions, attendees will have opportunities to network with peers, connect with solution providers, and exchange real-world insights on workforce trends and workforce challenges.
Learn from South Africa’s Leading HR Visionaries
The speaker lineup includes HR leaders from organisations including:
Tebogo Maenetja- Chief Human Resources Officer, MTN
Michele Seroke- Chief Human Resources Officer, Mediclinic
Nomsa Lewisa- CIO Group Human Technology, First Rand
Mikateko Nkuna- Valoyi, Managing Executive: Talent & Culture, Vodacom
Lerato Thelejane- Executive: People Change Readiness and Enablement, Absa Group
Event Details
Event: 5th Edition of HR World Summit South Africa 2026
Date: 16 September 2026
Time: 9:00 am – 5:00 pm
Venue: Focus Rooms – Universe, Johannesburg, South Africa
About Exito Media Concepts
Exito Media Concepts is a global B2B events organisation with over 16 years of experience delivering conferences across technology, cybersecurity, digital transformation, healthcare, finance, human resources, and other industries.
Exito brings together business leaders, solution providers, and decision-makers through conferences focused on knowledge sharing, collaboration, and executive networking.
For more details on the HR World Summit South Africa 2026, visit:
https://exito-e.com/hrworldsummit/south-africa/
For Media Enquiries, please contact:
Ashrith Shetty | Senior Marketing & PR Executive, Exito Media Concepts Email: ashrith.shetty@exito-e.com
This article was originally published as HR World Summit South Africa Returns to Johannesburg for Its 5th Edition on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Germany has extended its lead in the EU’s MiCA licensing rollout, after ESMA added six more crypto asset service providers registered under the Markets in Crypto-Assets Regulation. With the latest update, the total number of authorized CASPs across the European Union now stands at 331.
In the previous ESMA register update on Aug. 12, the additions were also reflected in the count. The most recent change, released on Friday, specifically increases Germany’s share by adding six German cooperative banks to the list of licensed entities.
Key takeaways
ESMA’s MiCA register now lists 331 authorized crypto asset service providers (CASPs) after Friday’s update.
Germany added six new CASPs, all cooperative banks, bringing the country’s total to 79.
Germany leads the EU standings by CASPs, ahead of France (35) and the Netherlands (29).
ESMA’s non-CASPs datasets tied to asset-referenced tokens (ART), electronic money tokens (EMT), and non-compliant entities were unchanged.
ESMA adds six German cooperative banks
According to ESMA’s MiCA register update published on Friday, six entities were added to the list of authorized crypto asset service providers. Compared with the Aug. 12 update, each of the newly registered providers is German and operates as a cooperative bank:
Raiffeisenbank Aidlingen
Ihre Volksbank
VR-Bank Mittelfranken Mitte
Volksbank Euskirchen
VR Bank Ried-Überwald
Volksbank Backnang
This expansion reinforces Germany’s position as the most active EU market in terms of MiCA authorizations, at a time when investors are watching which jurisdictions are moving fastest through the new regulatory framework.
Germany’s MiCA authorization gap widens
Germany now accounts for 79 CASPs under MiCA, compared with France’s 35 and the Netherlands’ 29, based on ESMA figures previously reviewed by Cointelegraph. The country’s lead has also been building quickly: Germany’s total stood at 57 CASPs in late June, when Cointelegraph reported that Germany was already ahead in the number of authorizations.
The pace matters because MiCA authorization is a prerequisite for compliant crypto-asset services across the EU. A larger number of authorized providers can translate into broader availability of regulated services for users in that country and potentially more competition among licensed entities.
Why Germany has more CASPs than its peers
Germany’s higher authorization count reflects structural features of its financial sector and how existing regulatory pathways mapped onto MiCA’s implementation. In June, Germany’s Federal Financial Supervisory Authority (BaFin) told Cointelegraph that the high number of MiCA authorizations is partly due to the country’s large financial industry and the number of credit institutions that are eligible to offer crypto services.
BaFin also pointed to Germany’s earlier national licensing regime. The regulator said that this established framework allowed some CASPs to benefit from simplified authorization procedures during the transition to MiCA, helping explain why the authorizations in Germany accelerated earlier and at a higher volume than in some other jurisdictions.
Token-category registers remain stable
Beyond the CASP register, ESMA maintains datasets related to specific token classifications. In the Friday update, those token-category datasets did not change: the asset-referenced token (ART) register remained empty, the electronic money token (EMT) register continued to show 43 entries, and the list of non-compliant entities stayed at 167.
For market participants, these static figures are useful context. While the number of licensed service providers is climbing, the token-category registers indicate that the regulatory focus is still separating the licensing progress of service firms from the readiness and reporting status of token issuers or categories tracked under ESMA’s framework.
Readers should watch the next ESMA register releases for whether Germany’s additions continue at the same pace, and whether any movement appears in the ART and non-compliant entity datasets—areas that remain unchanged despite growth in CASP authorizations.
This article was originally published as Germany Expands MiCA Role as EU Register Adds 6 More Banks on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

The European Central Bank is pushing back against privacy criticisms surrounding its planned digital euro, arguing that the system’s technical design would restrict what the Eurosystem can see about individual payments. In an interview published on Monday, ECB Executive Board member Piero Cipollone said the central bank would not be able to identify people making or receiving digital euro transactions.
Cipollone’s remarks come as lawmakers, privacy advocates and crypto community figures continue to warn that government-issued digital currencies could enable expanded financial surveillance—even if particular design choices are intended to limit visibility. The debate has also intensified in the United States, where policymakers have moved to block federal CBDC development.
Key takeaways
ECB Executive Board member Piero Cipollone says the Eurosystem would not be able to identify users making or receiving digital euro payments.
Cipollone argues that transaction identifiers would be designed so that only banks involved in transfers can identify users, including for anti-money laundering checks.
Offline digital euro payments are described as limiting available payment details to the payer and payee.
While privacy safeguards are a focal point, the ECB also frames the digital euro as a way to reduce Europe’s reliance on non-European payment infrastructure.
ECB privacy design: limited visibility by the central bank
In an Aug. 10 interview published by the ECB, Cipollone outlined how the digital euro could be structured to reduce direct surveillance by the central bank. He said the “Eurosystem would not be able to identify the users making or receiving payments.”
Instead, Cipollone’s position is that identity resolution would sit with the financial intermediaries that carry out the transactions. According to his description, only the banks involved in payment flows would be able to identify users, including for anti-money laundering purposes, while the Eurosystem itself would not be able to directly link specific individuals to digital euro payments.
The ECB official also pointed to offline capabilities as another privacy boundary. He said offline digital euro transactions would make payment details available only to the payer and payee—an approach intended to limit third-party access in scenarios where payments do not rely on continuous connectivity.
Why privacy concerns remain central
Despite the ECB’s attempt to address privacy fears at the design level, the project still faces scrutiny from multiple quarters. The underlying concern is that central bank-issued digital money, even with constraints, could change the nature and scale of visibility into financial activity compared with cash.
The ECB’s assurances are likely to be tested against the real-world implementation choices that follow design specifications. Critics have argued that institutional oversight—whether through intermediaries, reconciliation processes, or compliance workflows—could still produce surveillance outcomes that users may find difficult to fully anticipate from technical descriptions alone.
Digital euro as payment sovereignty project
Privacy is not the only pillar of the ECB’s digital euro messaging. The institution has also pitched the initiative as a response to strategic vulnerabilities in Europe’s payments stack.
Earlier in the year, Cipollone argued in a public lecture in Latvia that Europe’s reliance on non-European payment providers creates “strategic vulnerability.” According to his remarks, two-thirds of euro-area card transactions are governed by non-European companies. The digital euro, he suggested, could reduce this dependence by supporting European-controlled payment infrastructure.
This broader framing matters because it places the digital euro at the intersection of consumer protection debates and industrial policy. Even if privacy safeguards are strong on paper, the political and operational rationale for the program could shape the compromises lawmakers accept as negotiations continue.
Legislative progress and the timeline being discussed
Regulatory momentum in Europe has continued alongside the privacy debate. The European Parliament’s Economic and Monetary Affairs Committee backed its position on digital euro legislation in June. Later, in July, lawmakers cleared the proposal for negotiations with the Council.
The ECB has also indicated that a digital euro could be issued as early as 2029, assuming the necessary legislation is adopted and the project completes remaining technical and operational steps.
U.S. policy contrasts: restrictions on CBDC development
The privacy dispute around the digital euro echoes a parallel debate in the United States, where lawmakers have moved to limit CBDC efforts. Earlier coverage has noted that President Donald Trump issued an executive order in January 2025 prohibiting federal agencies from developing or promoting a CBDC, citing concerns including financial stability, individual privacy and US sovereignty.
On the legislative side, House lawmakers have also advanced proposals aimed at constraining a potential US CBDC. One such initiative, the Anti-CBDC Surveillance State Act, seeks to prohibit the Federal Reserve from issuing a CBDC.
While the European and US approaches differ in institutions and legal frameworks, the policy contrast underscores a shared theme: whether digital versions of money should be treated primarily as an infrastructure upgrade—or as a systemic governance risk that could increase surveillance and compliance reach.
As the ECB moves closer to implementation, the key question for users and investors will be how the promised privacy boundaries translate into concrete technical specifications and compliance workflows, especially for online and offline transaction modes. The next milestones to watch are the outcomes of Europe’s ongoing legislative negotiations and the operational details that will determine how much control the Eurosystem, banks, and other parties actually have over transaction information.
This article was originally published as ECB Defends Digital Euro Privacy Amid Rising Global CBDC Scrutiny on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Bitcoin is entering the last week of August near its strongest levels since early May, as a bear-market recovery appears to be testing major technical levels and drawing fresh attention from both traders and ETF investors. After a rally that pushed the market to $79,550, BTC/USD finished the week around $77,727 on Bitstamp, according to TradingView data—an outcome traders are now watching for follow-through rather than a quick rebound.
The shift matters because it coincides with improving on-chain profitability by several wallet cohorts, a renewed return of capital to US spot Bitcoin exchange-traded products, and a busy US macro calendar that could influence risk appetite. Still, analysts caution that resistance overhead—especially around the $80,000 area—may determine whether this strength becomes a durable trend or another temporary relief move.
Key takeaways
Bitcoin closed a weekly candle above its 50-week exponential moving average for the first time since early November 2025, reclaiming a long-watched bear-market level.
On-chain data highlighted by CryptoQuant shows “new money” breaking into net profitability, but it also places a key breakeven region around $73,000.
Spot Bitcoin ETF netflows totaled $1.9 billion over the prior week, the strongest weekly inflow since October 2025, per Farside Investors.
Macro focus turns to the Fed’s Jackson Hole symposium and the release of US PCE inflation data ahead of Wednesday’s print.
Bitcoin reclaims the 50-week EMA—now comes the “hold” test
Last week’s move was notable not just for its size, but for what it reclaimed. BTC reached $79,550 during the rally, its highest level since early May. The week ended with BTC/USD at $77,727 on Bitstamp, which signaled a reclaim of the 50-week exponential moving average—currently near $77,752—based on TradingView charts.
This 50-week EMA has historically been treated as a pivotal line during bear markets, and the last time Bitcoin achieved a weekly close above it was in early November 2025. In earlier cycles, traders have noted that price often retests the 50-week EMA before the market either confirms a transition to a stronger regime or slips back into deeper declines.
That backdrop is why some analysts are framing last week’s breakout as conditional. Crypto trader and analyst Rekt Capital previously warned that the 50-week EMA alone was not the full challenge; he pointed to the broader $80,000 area as the next hurdle for bulls. In his ongoing X commentary, he argued that bear-market relief rallies in the past have tended to retrace sharply in the week following a strong breakout—making the coming sessions critical to whether the market can sustain the new highs.
Rekt Capital also shared charts suggesting the formation of “macro lower highs,” implying recent strength could still fit within a larger downtrend structure until Bitcoin convincingly changes that pattern.
Profitability shifts on-chain, but downside “margin” may be thin
Technical reclaim is one side of the story; on-chain profitability is the other. The rally improved conditions for multiple wallet cohorts. A key reference point highlighted by CoinGlass data is that August is shaping up as Bitcoin’s best performing month since 2017, with the asset up roughly 22% month-to-date as of the time of writing.
CryptoQuant’s analysis tied this rebound to changes in realized cost bases by age cohort. CryptoQuant pointed to the “aggregate cost basis” for short-term holders—defined as wallets holding UTXOs for less than 155 days—at about $68,700. On that basis, CryptoQuant estimated STHs are now net profitable by just over 11%.
The same read-through showed long-term holder profitability moving from near breakeven to about +18.5%, while “new money” profitability rose from approximately -1.4% to +12.7%. More importantly for risk assessment, CryptoQuant calculated that “new money” now has a breakeven level around $73,000—above both the STH and LTH cost bases.
That creates a narrower cushion. CryptoQuant said the “68K–73K region” is now the key area to watch: holding above it would suggest the profitability reset is becoming structurally more durable, while losing it could quickly push a meaningful portion of the recent buyer base back into loss territory.
For traders, the takeaway is practical: if the market’s technical strength is translating into sustained demand, the on-chain distribution should stabilize above the key breakeven band. If it doesn’t, the risk is that the next pullback becomes sharper because fewer holders are positioned to absorb selling without realizing losses.
Jackson Hole, PCE inflation, and Treasury market moves set the tone
Beyond charts and chain data, Bitcoin’s near-term direction is likely to remain sensitive to US policy signals. All eyes this week are on the Federal Reserve and chair Kevin Warsh as the annual Jackson Hole economic symposium gets underway. The event will feature central bankers from more than 70 countries and includes Warsh’s first keynote speech as Fed chair, alongside his first public appearance since the July Federal Open Market Committee press conference.
Markets have been weighing how Warsh approaches interest-rate guidance—particularly after data has supported some softening in the expected policy path. However, traders are also keeping one eye on inflation risk stemming from geopolitical drivers, including oil-price volatility tied to the US-Iran conflict.
CME Group’s FedWatch Tool shows 63.1% odds that rates remain at 3.50%–3.75% after the September FOMC meeting, reflecting broad expectations that the near-term path may not involve immediate tightening.
There’s also a more complex angle: Warsh’s role appears tied to Treasury market considerations as policymakers seek to reduce the Fed’s involvement in day-to-day market functioning. In recent remarks reported by CNBC, strategist Thierry Wizman warned that signaling a persistently “dovish” stance could complicate Treasury goals by pushing inflation expectations higher, potentially undermining stability in nominal long-term yields.
Alongside Jackson Hole, the macro schedule includes the release of the July Personal Consumption Expenditures (PCE) inflation index on Wednesday. The PCE is widely treated as the Fed’s preferred inflation gauge, and in June it showed a first month-on-month decline since 2020, adding weight to the focus on the new print. Consensus expectations for Wednesday’s report call for a 0.1% monthly increase, with the year-on-year rate cooling to 3.6% from 3.7% in June.
Importantly, investors are not entering this data week from a calm baseline. The previous week’s market narrative was shaped by a US Treasury decision to at least double the size of its debt buyback operations to $4 billion per operation. That move contributed to a short squeeze in crypto, with liquidations reported at $3.1 billion over two days as Bitcoin moved higher.
Some market commentary suggested the Treasury action may have echoed broader “yield curve control” expectations—an idea long discussed by crypto commentators in the context of liquidity regimes and the relationship between government financing costs and broader asset markets.
ETF flows rebound sharply — but investors are watching for follow-through
One of the clearest signals of renewed demand has come from US spot Bitcoin ETFs. According to Farside Investors data compiled via its BTC ETF tracker, the ETF cohort pulled in $1.9 billion over the prior five trading days—the strongest weekly total since October 2025, when Bitcoin reached its latest all-time highs around $126,200.
Activity was particularly strong during the week’s later sessions as BTC/USD extended gains beyond $70,000. BlackRock’s iShares Bitcoin Trust (IBIT) recorded net inflows of more than $500 million on Thursday, according to the report citing Bloomberg’s coverage.
OKX SG CEO Gracie Lin, speaking to Bloomberg, said the key pattern was that there were net inflows on every trading day the previous week, suggesting renewed investor interest. She also cautioned that after a strong rally, some profit-taking would not be surprising.
The contrast versus recent history is stark. Two months earlier, June saw highly unusual outflows, with more than $4.5 billion leaving spot Bitcoin ETFs—described as unprecedented in the coverage. By the end of last week, August inflows stood at $2.38 billion, a new year-to-date record.
For market participants, ETF flows are often used as a signal of whether “spot” demand is expanding or merely cycling with volatility. The immediate question now is whether this inflow momentum can persist as Bitcoin tests resistance and as macro catalysts (Jackson Hole and PCE data) land.
Looking ahead, the next few trading sessions should clarify whether Bitcoin’s weekly reclaim of the 50-week EMA translates into sustained demand: traders will likely weigh price acceptance above the $80,000 resistance zone, while on-chain investors should watch whether the $68,000–$73,000 breakeven band holds. With Jackson Hole and the July PCE report approaching, volatility risk may remain elevated, but the ETF flow trend could determine whether this strength is gaining real traction.
This article was originally published as Bitcoin Eyes First Bear-Trend Reclaim Since 2025: 5 Key Updates on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Bitcoin (BTC) broke out of its recent slump last week, reclaiming key levels after getting a substantial boost from the bond market and developments in Washington. Gold benefited from similar conditions, rising above $4,600 on Friday as investor interest returned.
BTC is trading around $77,184, up nearly 22% over the past seven days, while gold rose about 5% in the same period, marking a third consecutive weekly gain, and reaching a three-month high.
Bitcoin And Gold Get Major Lift
Bitcoin (BTC) broke out of its trading range last week, surging nearly 22% as a massive short squeeze, institutional interest in Bitcoin ETFs, and the US Treasury’s announcement that it would double its bond-buy operations from $2 billion to $4 billion. The short squeeze hit traders who bet against BTC, triggering a wave of liquidations that propelled the price higher. Spot Bitcoin ETFs saw renewed momentum and registered their strongest week in 10 months, recording $1.92 billion in net inflows, according to CoinGlass data. The US Treasury’s announcement lowered 30-year bond yields, which hit 5.34% prior to the decision, the highest since 2007. A renewed political push to pass the CLARITY Act has also buoyed investor sentiment.
On the other hand, gold crossed $5,300 in January but fell toward $4,000 by June as investors pivoted to interest-bearing investments thanks to rising interest rates. The bullion is back above $4,600, recording a third consecutive weekly gain, and is currently trading around $4,650, according to Investing.com.
Crypto Gets A Policy Boost
President Trump’s meeting with top crypto industry executives and subsequent calls on Congress to pass the CLARITY Act increased optimism about greater regulatory clarity, helping boost investor sentiment. Commodity Futures Trading Commission (CFTC) Chair Mike Selig added that he would “use every tool available” to advance President Trump’s crypto agenda. The CFTC is meeting on Thursday to explore whether it can use its existing authority to ease crypto rules. The United States Securities and Exchange Commission (SEC) has already announced the implementation of the “Regulation Crypto Assets” framework. The framework introduces tailored exemptions and a provisional safe harbor, preventing specific crypto assets from being classified as securities.
Bitcoin Short Squeeze Another Catalyst
Bitcoin (BTC) registered one of its strongest rallies in recent memory last week, reclaiming key levels after trading in the $62,000 and $67,000 range for nearly two months. Short traders seized the moment, placing bets against a rally. However, the US Treasury’s announcement fueled BTC’s surge past the $70,000 mark, triggering a wave of liquidations as traders closed their short positions. This added more fuel to the rally, with over $4 billion in short positions liquidated by Friday, according to CoinGlass data.
BTC started the previous week in positive territory, rising 2.62% on Monday and closing at $64,484. The price registered a marginal increase on Tuesday before rallying more than 7% on Wednesday and closing at $69,300. Upward momentum persisted on Thursday as BTC crossed $70,000 and settled at $73,011, up 5.36%. Bullish sentiment intensified on Friday as the price rallied more than 7%, reaching an intraday high of $79,500 before settling at $78,325. Despite the overwhelming positive sentiment, BTC could not cross $80,000 and lost momentum over the weekend.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
This article was originally published as Bitcoin (BTC) And Gold Shed Their Shackles As Macroeconomic Tailwinds Lift Prices on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

US spot Bitcoin exchange-traded funds (ETFs) posted their best weekly inflows in nearly 10 months, drawing close to $2 billion as Bitcoin’s price surged over the same period. According to SoSoValue data, the week ending Friday saw $1.92 billion in net inflows—the strongest result since early 2026.
The comeback in demand appears to have been broad rather than isolated. ETF analyst Nate Geraci said on Sunday that spot Ether ETFs also attracted roughly $700 million, with Bitcoin and Ether funds each posting their strongest weekly inflows since October 2025.
Key takeaways
US spot Bitcoin ETFs pulled in $1.92 billion in net inflows for the week ending Friday, their strongest weekly performance in nearly 10 months, per SoSoValue.
Bitcoin rose more than 20% over the week, briefly breaking above $79,000 after starting near $63,000, according to CoinGecko.
Despite last week’s rally, US spot Bitcoin ETFs remain down for 2026 with about $2.91 billion in net outflows so far.
BlackRock’s IBIT led the rebound with about $1.33 billion in net inflows across five consecutive trading days, according to Farside Investors.
Inflows rebound as Bitcoin accelerates
The latest ETF surge arrived after a stretch of uneven flows that had weighed on sentiment around the category. SoSoValue’s weekly figures show that capital returned quickly once spot Bitcoin gained momentum, with the week ending Friday delivering $1.92 billion in net inflows.
CoinGecko data cited in the report shows Bitcoin climbed more than 20% last week, moving from roughly $63,000 to briefly exceed $79,000 on Friday. That price strength matters because it often changes investor behavior at the margin—buyers become more willing to allocate into spot products when returns are visibly improving.
Geraci’s comments suggest the demand was not limited to Bitcoin alone. He said spot Ether ETFs drew about $700 million, and that both Bitcoin and Ether funds logged their strongest weekly inflows since October 2025.
2026 still shows persistent outflows
While last week was a clear improvement, the broader picture for 2026 remains negative. The report notes that US spot Bitcoin ETFs are down overall by about $2.91 billion in net outflows so far this year.
Flow patterns have been especially weak around mid-year. The funds recorded their heaviest monthly outflows in June at $4.51 billion, following $2.43 billion in withdrawals in May. In contrast, August has turned more supportive, with $2.38 billion in net inflows through Friday, making it the strongest inflow month of 2026 to date.
That contrast is important for investors watching whether the ETF complex is transitioning from a sell-the-rally posture to a sustained buying trend. A single strong week can happen within a broader downcycle, but sustained monthly inflows would signal a more durable shift.
The October 2025 inflow cycle—and why comparisons matter
Earlier ETF strength also preceded a major market shock. During the last significant inflow wave in October 2025, the funds attracted $3.42 billion. The report links that period to the Oct. 10 crypto market crash, which it says triggered the largest liquidation event in the industry’s history—wiping out about $19 billion in leveraged positions within 24 hours.
Bitcoin’s drawdown over the same broad interval provides additional context. Since Oct. 6, when the asset traded near $124,700, the report states Bitcoin has fallen roughly 38%.
These comparisons don’t imply a repeat outcome, but they do highlight a recurring dynamic: ETF inflows can accelerate during bullish price phases, yet high leverage in the broader market can still produce abrupt reversals. For traders and portfolio managers, the practical takeaway is that ETF flow strength should be assessed alongside overall market positioning and volatility, not treated as a standalone predictor.
IBIT drives the resurgence with shifting daily momentum
The rebound last week was heavily influenced by BlackRock’s IBIT. According to Farside Investors data cited in the report, IBIT accounted for about $1.33 billion in net inflows over five consecutive trading days.
The product’s daily flow profile also showed a noticeable ramp-up before cooling. The report states IBIT’s daily inflows rose from $160.2 million on Monday to $503 million on Thursday, before easing to $239.3 million on Friday.
Bloomberg ETF analyst Eric Balchunas characterized the flow sequence as a “classic Flipping the Bird pattern” and suggested it represented a bullish signal. While interpretations of daily flow patterns can vary, the market relevance is straightforward: when large allocations repeatedly enter an ETF on consecutive sessions, it often reflects active demand rather than a one-day reaction.
For readers tracking whether this week’s inflow surge is the start of a broader trend, IBIT’s trajectory is likely to remain a key point of observation—both in terms of whether consecutive inflow days persist and whether the category-wide momentum extends beyond one or two products.
Going forward, investors should watch whether August’s inflow strength continues and whether the weekly pattern holds in the coming sessions; the category is still net-negative for 2026 overall, so follow-through beyond a single standout week will be the clearest test of whether demand is truly regaining durability.
This article was originally published as Bitcoin ETF Inflows Reach $1.9B, Strongest Week Since Oct 2025 on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Decentralized lending protocol Term Finance has reportedly suffered a major governance-related theft targeting its vault product, with security firms estimating losses of roughly $8.5 million. The incident centers on Term Meta Vaults—strategy vault contracts designed to allocate and manage assets—where an attacker allegedly gained control of governance and used it to drain funds.
PeckShield said the attacker extracted about 2,843 ETH and 1.68 million USDC. PeckShield’s post valued the ETH at approximately $6.87 million at the time of the reported drain, and stated that the USDC was converted into about 1.68 million DAI. CertiK reported a broadly similar figure, putting the total loss at around $8.5 million.
Key takeaways
Security firms estimate Term Finance’s vault theft at about $8.5 million, based on reported withdrawals of ETH and stablecoins.
The attack is described as a governance takeover: the attacker allegedly obtained voting power and passed proposals enabling vault control.
Term Labs says it has shut down Term Meta Vaults and revoked their DAO governance roles, aiming to stop further deposits while allowing withdrawals.
Earlier risk controls were already tightened after a prior 2025 oracle incident, but this new event again highlights governance as a critical attack surface.
Estimated losses and what was taken
Multiple blockchain security monitors aligned on the scale of the exploit. According to PeckShield’s alert, the attacker drained approximately 2,843 ETH and 1.68 million USDC from Term’s vault system. PeckShield also indicated that the USDC was traded into roughly 1.68 million DAI.
CertiK’s estimate matched the order of magnitude, placing the combined loss at about $8.5 million. The reported theft was especially significant relative to what Term had deployed in its vaults: DefiLlama data indicates the Term vault product held about $12.45 million prior to the incident, including nearly all of its roughly $8.8 million in Ethereum deposits.
Term Labs freezes vaults, claims core protocol markets were not affected
Term Labs responded by stating it had “irreversibly shut down all Term Meta Vaults” and revoked their DAO governance roles. The company said the move prevents additional deposits, while withdrawals remain open.
In its statement, Term Labs said its investigation so far indicates the underlying Term protocol, along with its direct borrowing and lending markets, were not affected. The team also emphasized that it was still validating the full scope of impact, including whether any additional exposure exists beyond the vault contracts targeted in the incident.
Governance manipulation allegedly enabled vault control
Monitoring service Defimon said the attacker likely achieved control by cheaply acquiring a majority of a sparsely distributed governance token. Defimon reported that the attacker then used that control to submit proposals that allowed it to seize control of Term’s vaults.
Term has not confirmed how the attacker obtained voting power or which exact governance functions were used. That uncertainty matters for users and integrators because it points to gaps that may extend beyond a single contract bug—especially when governance frameworks can be influenced through token concentration, proposal mechanics, or voting wrappers.
Term’s vault contracts are built using Yearn V3 infrastructure. However, Yearn stated that the exploit relied on a custom governance wrapper and that the attack vector does not apply to standard Yearn vault setups. This distinction is important for builders evaluating whether “Yearn-based” automatically implies “protected by default” governance assumptions.
Why this echoes a prior Term incident
This governance exploit comes after an earlier Term incident in April 2025, when an oracle error is reported to have triggered unintended liquidations totaling about 918 ETH. Term’s subsequent response included recovering about 556 ETH at the time, reducing its final loss to 362 ETH, and reimbursing affected users, according to a postmortem published by Term.
In the wake of that April 2025 episode, Term pledged third-party validation for critical updates and committed to greater governance transparency. The new theft suggests that, regardless of improvements to operational controls and monitoring, governance pathways can still become high-impact targets if attackers can acquire voting influence or exploit proposal execution flows.
At this point, the most actionable questions for stakeholders are whether Term’s remaining vaults and governance arrangements are fully isolated from the compromised mechanics, and how quickly Term can quantify any residual exposure. With the company already disabling Meta Vault deposits and revoking governance roles, attention should turn to the scope of affected contracts, the likelihood of partial recovery, and whether Term’s governance design will undergo further structural changes before the next round of vault operations resumes.
This article was originally published as Term Finance Reports $8.5M Loss After Vault Governance Exploit on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Pakistan’s crypto regulatory authority, the Pakistan’s Virtual Assets Regulatory Authority (PVARA), has opened a licensing portal and started enforcing a framework for exchanges and other virtual asset service providers (VASPs). The move turns Pakistan’s virtual-asset regime from a largely legislative exercise into an operational compliance system—creating a clear deadline for firms already serving users in the country.
Under PVARA’s stated rules, businesses providing virtual asset services on or before March 5 must apply for a no-objection certificate (NOC) by Sept. 5. PVARA warns that operating after the deadline without filing an application will be treated as an offense, according to a Saturday press release reported by the Associated Press of Pakistan. PVARA also said the licensing window is designed to establish standards for consumer protection, governance, compliance, and market integrity.
Key takeaways
PVARA has opened its licensing portal, shifting Pakistan’s virtual-asset policy into enforcement mode.
Existing VASPs serving before March 5 must seek an NOC by Sept. 5 or face regulatory action.
The framework sets requirements that include segregation of customer holdings and restrictions on lending or pledging them without written consent.
Firms may pursue licensing via a regulatory sandbox or an NOC pathway tied to incorporation plans in Pakistan.
Pakistan’s approach builds on earlier legal steps, including the Virtual Assets Act and bank-account rules for licensed providers.
From framework to enforcement: the licensing deadline
For market participants, the most immediate change is timeline clarity. PVARA’s licensing website outlines the operational expectations for VASPs already active in Pakistan. Companies that have been providing virtual asset services on or before March 5 are required to submit an application for an NOC by Sept. 5. If they continue operating without applying, PVARA says it will treat that as an offense.
While this does not necessarily mean all noncompliant businesses will be shut down instantly, it does set up a compliance gate that operators must clear. For traders and users, licensing timelines can influence platform availability, withdrawal processing, and counterparty risk. For businesses, the deadline effectively turns “watch-and-wait” posture into a project with legal, technical, and governance deadlines attached.
Scope of covered services and “two-route” licensing
PVARA’s framework is broad. It covers core parts of the virtual-asset industry, including exchanges, custody, broker-dealer services, lending, derivatives, asset management, token issuance, and mining-related services. That breadth matters because it signals that Pakistan’s regulatory intent is not limited to a single type of business model; it aims to govern multiple layers of the value chain from issuance to market infrastructure.
The authority also described two paths to licensing. Firms can apply for an NOC prior to incorporating locally, or they can enter a regulatory sandbox to test products under PVARA supervision before pursuing a full license. According to PVARA, these routes are designed to accommodate companies at different stages of market entry—those that are preparing to establish a local entity and those that want to pilot products while working through compliance expectations.
This two-route model is especially relevant for companies exploring new offerings like derivatives or lending, where consumer protection, operational resilience, and risk controls typically require more extensive systems work than a basic exchange front-end.
Operational and compliance requirements for licensed providers
PVARA’s notified requirements emphasize custody discipline and broader institutional controls. Among the explicit obligations mentioned in the framework are rules requiring licensed providers to keep customer holdings separate from their own assets. PVARA also states that firms cannot lend or pledge customer holdings without written consent, a clause designed to reduce the risk of customer funds being used for the provider’s own balance sheet activities.
Beyond asset-handling, PVARA’s framework points to governance and conduct expectations, along with detailed operational and security requirements. The rules reference cybersecurity, operational resilience, and anti-money laundering and counter-terrorism financing controls. In practical terms, these categories are often where regulators assess whether a platform can sustain continuity, protect user data and assets, and meet compliance obligations consistently—not just at launch, but as ongoing operational processes.
The compliance emphasis is consistent with what PVARA described when it previously issued NOCs to certain firms, allowing them to set up local subsidiaries and prepare for full licensing applications. In other words, the licensing portal appears to formalize a staged approach: preliminary permission to move toward local incorporation and detailed readiness, followed by the deeper compliance requirements that accompany full authorization.
How Pakistan’s legal groundwork enabled the licensing rollout
PVARA’s licensing process builds on earlier steps that set the regulator’s authority and operational structure. Pakistan’s parliament passed the Virtual Assets Act in March, establishing PVARA as the statutory regulator for the sector. After that, the State Bank of Pakistan allowed banks to provide accounts to licensed VASPs, including arrangements such as segregated client-money accounts. Those banking rules are important because they can reduce settlement and custodial friction while also strengthening accountability for how customer funds are handled.
PVARA’s enforcement rollout also followed public consultation, with consultations held from June 11 to July 2. The authority said the final framework provides two licensing pathways—reflecting feedback incorporated into the end product rather than a purely top-down rulemaking.
Notably, the move comes after PVARA had already issued NOCs to some firms. According to coverage earlier in the year, NOCs were issued to Binance and HTX in December 2025, permitting them to establish local subsidiaries and prepare applications for full licensing. With the regulations now notified and the licensing portal open, those preliminary steps can progress into more complete authorization planning under PVARA’s detailed requirements.
For compliance teams, this is where projects become concrete: companies with NOCs still need to align their custody setup, governance, cybersecurity posture, and AML/CFT systems with the framework’s expectations—and do so inside the enforcement timelines now linked to the Sept. 5 NOC application deadline for existing providers.
What to watch next
With PVARA now accepting applications through its licensing portal, the next critical signals will be how quickly NOC applications are processed and whether PVARA’s sandbox pathway launches smoothly for new product testing. Market participants and users should also watch for any enforcement actions tied to the Sept. 5 deadline, since those outcomes will define how strictly the regulator draws the line between compliant, transitioning, and noncompliant operations.
This article was originally published as Pakistan Launches Crypto Licensing Portal, Sets Sept. 5 Deadline on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Pakistan’s crypto regulator has formally moved from rulemaking to enforcement by opening its licensing portal for virtual asset service providers (VASPs). The Pakistan’s Virtual Assets Regulatory Authority (PVARA) notified regulations for crypto exchanges and a broader set of virtual-asset activities, setting a deadline for firms already operating in the country to apply for a no-objection certificate (NOC).
Under PVARA’s licensing website guidance, companies providing virtual asset services on or before March 5 must submit their NOC applications by Sept. 5; otherwise, continuing operations without an application will be treated as an offense. The regulator says the window is now “officially open,” laying out standards intended to bring consumer protection, governance, and compliance into the open for regulated market participants.
Key takeaways
PVARA has opened its licensing portal after notifying the regulations that define how crypto services will be authorized in Pakistan.
Existing operators have until Sept. 5 to apply for an NOC; operating past the deadline without applying can trigger enforcement.
The framework covers a wide range of VASP activities, including exchanges, custody, broker-dealer services, lending, derivatives, asset management, token issuance, and mining-related services.
Licensed providers must segregate customer holdings and face restrictions on lending or pledging those assets without written consent.
Firms can pursue either a sandbox pathway for product testing or an NOC pathway as they prepare for full licensing.
A licensing regime built for enforcement
PVARA’s move is significant because it converts a regulatory framework into an action-oriented process with clear compliance steps for market participants. In a Saturday press release attributed to the Associated Press of Pakistan, PVARA said operating after the relevant deadline without submitting an application will be considered an offense.
In a separate statement on LinkedIn, PVARA described the launch as creating a “clear pathway” for businesses to enter Pakistan’s regulated virtual asset market. The regulator linked the licensing effort to defined expectations around consumer protection, governance, compliance, and market integrity—areas that typically become central when regulators shift from consultations and policy drafting to supervision and licensing decisions.
Which services fall under PVARA’s framework
The notification outlines a broad scope of activities that VASPs must address in their licensing pathway. According to PVARA’s described framework, it includes services such as exchanges and custody, broker-dealer activities, lending and derivatives, asset management, token issuance, and mining-related services.
PVARA also lays out options for how companies can engage with the regulator before they become fully licensed. The regulator states that providers may seek an NOC prior to incorporating locally, or they can enter a regulatory sandbox to test products under PVARA supervision before applying for full authorization.
That two-track design matters for companies trying to scale operations while navigating compliance requirements. The sandbox approach can reduce time-to-learning for new products, while the NOC pathway offers a structured route for firms preparing to establish a Pakistan-based presence.
Operating rules: segregation, cybersecurity, and AML/CTF controls
PVARA says licensed providers will have to meet specific operational and custody-related requirements. One of the most immediate implications for exchanges and custodial platforms is the requirement to keep customer holdings separate from their own assets.
The framework further restricts how those customer holdings can be used. PVARA states that providers cannot lend or pledge customer assets without written consent, a rule designed to reduce the risk of conflicts between customer interests and a platform’s own balance-sheet needs.
Beyond custody, the regulator’s framework also specifies governance and conduct expectations, cybersecurity requirements, operational resilience measures, and anti-money laundering and counter-terrorism financing controls. For operators, these obligations will likely determine not only whether a license is granted, but also how systems are architected—especially around risk monitoring, incident response, and compliance reporting.
From consultation to notified rules—and what it changes now
The licensing push follows a public consultation that ran from June 11 to July 2. PVARA said the final framework provides two routes to licensing: a sandbox for product testing and an NOC pathway for companies preparing to incorporate in Pakistan.
In practice, this turns previously described standards into enforceable requirements with dates attached. Companies that were waiting for the notified regulations to start applying will now need to treat licensing as a near-term priority, particularly because the NOC application deadline is tied to whether a provider was already offering services in the country on or before March 5.
Notably, PVARA has indicated it already issued NOCs to some firms. The regulatory groundwork includes preliminary approvals that allow certain exchanges to establish local subsidiaries and prepare full license applications—progress that now can move faster now that the rules have been formally notified through the portal process. PVARA’s earlier NOC issuances have included Binance and HTX, as previously reported by Cointelegraph.
How Pakistan’s broader crypto framework is taking shape
PVARA’s ability to run a licensing process stems from Pakistan’s legislative shift earlier this year. Cointelegraph previously reported that Pakistan’s parliament passed the Virtual Assets Act in March, establishing PVARA as the statutory regulator for the sector.
Regulatory coordination has also extended to banking access. Cointelegraph has reported that the State Bank of Pakistan allowed banks to provide accounts to licensed VASPs, including segregated client-money accounts. Combined with PVARA’s new requirements around separation of customer holdings, that creates a clearer compliance stack for licensed providers—addressing both operational custody rules and the banking plumbing required for regulated services.
Still, with licensing enforcement now starting in earnest, companies and users should watch how quickly applications are processed and what additional conditions—if any—are imposed as full licenses are granted. The regulations establish the baseline, but the practical effects will depend on PVARA’s implementation, including how sandbox participants are supervised and how quickly NOCs translate into full licensing.
For market participants, the next phase will likely center on whether existing VASPs can meet the Sept. 5 NOC deadline and how rigorously PVARA assesses custody separation, cybersecurity readiness, and AML/CTF controls. That timeline—and the regulator’s approach to granting first full authorizations—could determine how rapidly Pakistan’s regulated crypto market expands.
This article was originally published as Pakistan Launches Crypto Licensing Portal, Sets Sept. 5 Deadline on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.