Crypto Breaking

The latest assessment from Chainalysis shows a marked shift in how illicit funds move within the crypto ecosystem. Centralized exchanges, once a primary conduit for laundering, are seeing their role diminish as informal, Chinese-language service networks expand their reach through laundering-as-a-service models. The report, published this week, details a landscape where money mules, informal over-the-counter desks, and gambling platforms are used to mix and route funds, bypassing traditional on-ramps and scrutiny. The trend sits within a broader growth in on-chain laundering, highlighting the continuous evolution of crypto crime even as regulators tighten rules around exchanges and custodians. In 2025, the on-chain laundering ecosystem reportedly processed more than $82 billion in illicit funds, a striking rise from roughly $10 billion in 2020, underscoring both rising liquidity and the persistent gap between crypto crime and enforcement capabilities.

Key takeaways

Chinese-language networks now account for about 20% of tracked illicit crypto funds, aligning with a wider migration away from centralized venues as exchanges gain the ability to freeze funds.

Inflows to identified Chinese-language laundering networks have surged dramatically since 2020, growing 7,325 times faster than inflows to centralized exchanges.

In 2025 alone, illicit funds laundered on-chain reached an estimated $82 billion, with Chinese-language networks responsible for roughly $16 billion of that total (~$44 million per day).

The laundering ecosystem is increasingly accessible, with crypto’s liquidity and adoption fueling new methods—telegram-based services and informal desks are highlighted as key facilitators.

Law-enforcement capacity building is emphasized as crucial, calling for upskilling and better information sharing to disrupt on-chain laundering networks.

Despite progress in centralized-exchange controls, the shift toward on-chain and service-based laundering reflects a broader regulatory and enforcement challenge across borders.

Market context: The findings come as regulators worldwide tighten crypto-asset rules and exchanges strengthen KYC/AML controls, yet illicit actors adapt by exploiting on-chain rails and informal channels. The shift reinforces the importance of on-chain analytics and cross-border cooperation as tools to curb crypto-enabled crime.

Why it matters

The Chainalysis report is a sobering reminder that the crypto-crime landscape is not static. While centralized exchanges have made meaningful strides in customer checks and security, the rise of Chinese-language networks signals a pivot toward less-regulated, on-chain pathways. The fact that these networks now account for a meaningful share of illicit flows—despite increased exchange scrutiny—illustrates how crime-adjacent actors exploit the friction between regulation and innovation. The magnitude of 2025’s on-chain laundering, pegged at more than $82 billion, underscores the scale of the problem and the urgency for robust global coordination among law enforcement, policymakers, and the private sector.

Experts interviewed by Chainalysis describe a persistent gap between criminal capabilities and enforcement capacity. Tom Keatinge of the Royal United Services Institute argues that many countries lack a parallel development of crypto-tracing skills within law enforcement, a deficiency that hampers disruption efforts. He notes that while private sector analytics providers have helped in specific cases, the real-world need is a systemic upgrade of investigative capabilities and cross-border information sharing. The report therefore frames upskilling as not merely a technical issue but a strategic one, essential to counter the nimble and persistent laundering networks that now dominate a large portion of on-chain activity.

What to watch next

Regulatory developments that expand cross-border information sharing and harmonize AML standards for crypto service providers.

Law-enforcement training programs and joint task forces aimed at dismantling laundering-as-a-service operations and advertising venues.

Advances in on-chain tracing tech and analytics that can attribute laundering flows more precisely to networks and facilitators.

Policy updates on the treatment of Chinese-language service channels and Telegram-based networks in enforcement actions.

Potential enforcement cases that target money-mules, OTC desks, and gambling platforms implicated in laundering networks.

Sources & verification

Chainalysis: 2026 crypto money laundering report and accompanying status updates, including on-chain flow analyses and network-specific findings.

Chainalysis discussion of laundering dynamics via Chinese-language Telegram-based services and other informal channels.

Related materials cited in the report, including regulatory and enforcement context and expert commentary from policy think tanks.

Chinese-language laundering networks reshape on-chain crime

Chainalysis’s latest research paints a clear picture: as exchanges intensify their compliance regimes, illicit actors are increasingly leveraging non-traditional routes to move and conceal funds. The Chinese-language networks—anchored in informal service-based models—have built out infrastructures that resemble “laundering-as-a-service,” drawing on money mules, OTC desks operating outside formal compliance regimes, and gambling platforms used to mix and route illicit funds. These networks did not appear overnight; they matured in the COVID-era environment that facilitated remote coordination and new digital-adoption patterns. Since then, they have grown to dominate known on-chain money-laundering activity, becoming a formidable force in the global crypto crime ecosystem.

One of the most striking metrics in the report is the share of illicit flows attributed to these Chinese-language networks. Roughly one-fifth of tracked illicit crypto funds are associated with these channels, a testament to their reach and persistence. This rise comes at a time when international efforts to police crypto activity are intensifying. Centralized exchanges, long the workhorse for compliant crypto trading, have tightened monitoring and built stronger controls. Yet the networks described in the Chainalysis study illustrate a contrasting, more diffuse approach to laundering—one that leverages low-friction channels, informal desks, and a distributed advertising ecosystem to recruit participants and move funds across borders.

In numerical terms, the growth story is compelling: inflows to identified Chinese-language laundering networks have surged at a pace that dwarfs that of centralized exchanges. Since 2020, inflows to these networks have expanded 7,325 times faster than inflows to centralized exchanges—an asymmetry that highlights how quickly illicit actors can adapt to changing regulatory environments. The implication is not only about the scale of illicit funds moving through these channels but also about the speed at which their operational models can pivot in response to enforcement pressure.

Beyond the raw figures, the report emphasizes shifts in the mechanics of on-chain laundering. While not discounting the role of traditional laundering endpoints, Chainalysis notes a broader ecosystem in which on-chain mixing services, mule networks, OTC desks, and gambling platforms together form a complex web that can obfuscate provenance and destination of funds. The accessibility and liquidity of crypto assets fuel this ecosystem, enabling rapid movement, layering, and swapping across multiple wallets and chains. The trend underscores the need for more sophisticated cross-chain analytics and heightened collaboration between regulators, exchanges, and law-enforcement agencies to disrupt such networks at multiple points of exposure.

The discussion also underscores a practical policy takeaway: law enforcement must be equipped with enhanced capabilities and better information-sharing mechanisms. As Tom Keatinge suggested, the gap between criminals’ crypto usage and authorities’ investigative prowess remains a critical vulnerability. Private-sector tracing tools have proven useful in some cases, but the real-time, global-scale disruption of these laundering networks requires a concerted, systemic effort. The call is for a holistic upgrade of capabilities—from workforce training to interoperable data-sharing protocols—that can translate analytics into actionable enforcement outcomes.

Against this backdrop, the crypto industry, regulators, and researchers are likely to maintain a careful balance between enabling legitimate financial activity and curbing illicit flows. The rise of Chinese-language laundering networks does not necessarily indict the asset class as a whole; rather, it highlights the importance of robust compliance, transparent reporting, and continued investment in enforcement-relevant capabilities. The report’s findings invite policymakers to consider more nuanced, globally coordinated responses that can adapt to evolving laundering strategies without stifling legitimate innovation.

As the ecosystem continues to evolve, stakeholders should monitor indicators such as shifts in flow volumes by language regions, the emergence of new informal service clusters, and the effectiveness of cross-border information-sharing initiatives. The coming years will likely reveal whether intensified regulatory regimes and advanced analytics can meaningfully compress the playbook of these laundering networks or whether adaptivity will maintain their foothold in the on-chain crime landscape.

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This article was originally published as Crypto Laundering on Centralized Exchanges Declines: New Report Finds on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Steak ’n Shake has added $5 million in Bitcoin to its Strategic Bitcoin Reserve, lifting the fund to $15 million and roughly 167.7 BTC at current prices. The Tuesday update follows a $10 million infusion announced on January 18, underscoring the chain’s commitment to funneling all sales conducted in Bitcoin into the reserve. While the exact balance remains undisclosed, management has framed the move as part of a broader fintech-driven transformation aimed at strengthening the chain’s financial flexibility and driving growth across its footprint.

Key takeaways

Steak ’n Shake increased its Strategic Bitcoin Reserve by $5 million, bringing total holdings to about $15 million (roughly 167.7 BTC at press time).

The company began accepting Bitcoin payments across its restaurant network in May, integrating crypto into everyday transactions.

Same-store sales growth across company-owned and franchise locations rose 18% so far in 2026, with Bitcoin adoption cited as a primary catalyst.

Public treasury entities have accumulated significant Bitcoin exposure, holding about 1.13 million BTC collectively, valued at roughly $101.33 billion.

Steak ’n Shake will extend crypto-based incentives by offering Bitcoin bonuses to hourly employees at company-operated locations, starting March 1 with a two-year vesting period.

Tickers mentioned: $BTC

Sentiment: Bullish

Market context: The move aligns with a broader corporate trend toward crypto treasuries as firms weigh longer-horizon strategies amid macro uncertainty. Bitcoin’s price hovered near the $89,000 mark around the time of reporting, while public treasury holders collectively own about 1.13 million BTC, worth approximately $101.33 billion, per BitcoinTreasuries.Net.

Why it matters

The Steak ’n Shake development illustrates how a traditional consumer brand is integrating cryptocurrency into both treasury management and employee incentives. By funneling Bitcoin-based sales directly into the Strategic Bitcoin Reserve, the company signals a longer-term bet on crypto as a durable part of corporate financial planning rather than a speculative sideline. The approach echoes a growing roster of public and private enterprises that view BTC as a hedge against fiat volatility and a means to align incentives with the evolving digital economy.

Industry observers view the initiative as a test case for how a fast-food operator can maintain day-to-day liquidity while building a crypto-backed balance sheet. A senior analyst who follows corporate crypto adoption noted that Bitcoin can serve as a backstop that supports resilience during lean periods, particularly for businesses with variable revenue streams. The rationale is not merely speculative; the BitcoinTreasuries.Net data show a substantial, ongoing accumulation of BTC by treasury-focused companies, reflecting a broader reallocation of risk and potential upside from crypto markets.

On the consumer side, Steak ’n Shake has framed Bitcoin adoption as a driver for growth in its core metric: same-store sales. Management has attributed part of the 18% SSS improvement in 2026 to the increased visibility and engagement that crypto offerings generate among customers who increasingly value digital payment options and a tech-forward brand experience. Acknowledging the broader trend, the company highlighted that fintech-driven strategies are transforming operations and how the brand interacts with its customer base. The move also aligns with a wider push among retailers to experiment with crypto-driven incentives and compensation models, which can help attract and retain talent in a competitive labor market.

Market participants remain cautious about short-term price trajectories for BTC, given fluctuating macro signals. Nonetheless, the longer-term narrative around corporate crypto adoption appears to be gaining momentum as more firms disclose treasury positions and explore payroll or bonus structures linked to digital assets. In the case of Steak ’n Shake, the planned Bitcoin bonuses for hourly workers—set to begin March 1 with a two-year vesting schedule—signal a tangible step toward aligning employee rewards with the company’s crypto strategy, potentially improving retention and morale as the restaurant expands its crypto footprint.

Overall, the trend toward corporate BTC holdings is supported by a growing number of public and private entities that view digital assets as a strategic resource rather than a mere speculative asset. The combination of a strengthened reserve, revenue-linked incentives, and a credible path toward broader crypto integration could influence peers to reexamine treasury policies, compensation schemes, and the role of digital assets in growth plans. While the price path remains uncertain in the near term, the underlying shift toward crypto-enabled business models appears to be gaining legitimacy across sectors.

For readers tracking the crypto-capitalization of businesses, Steak ’n Shake’s approach offers a concrete example of how a traditional brand can fuse sales, treasury strategy, and workforce incentives around BTC. As more companies publish figures on treasury allocations and as employees gain exposure to token-based rewards, the sector could see increased liquidity, more robust demand for BTC-based payroll tools, and a gradual normalization of crypto within mainstream corporate finance.

Details on the brand’s BTC journey, including past disclosures, are interwoven with broader market data and corporate commentary. A May 2026 disclosure noted the first wave of BTC acceptance across its restaurant network, and subsequent communications emphasize how crypto adoption is connected to growth metrics and investor-facing narratives. The broader ecosystem continues to monitor how these treasury-driven strategies influence company performance and market sentiment, especially as the industry seeks to balance risk with the potential upside of long-term Bitcoin holdings.

The ongoing development of Steak ’n Shake’s Strategic Bitcoin Reserve, alongside employee incentives and rising public corporate involvement in BTC, suggests that the landscape for Bitcoin as a corporate asset is evolving beyond a niche experiment. While price volatility remains a consideration, the structural shift—where crypto serves as a strategic financial instrument, a customer engagement catalyst, and a tool for talent retention—appears to be gaining traction across the broader business world.

For additional context, Bitcoin’s price movements and treasury data are widely tracked across market data platforms, including CoinMarketCap, which documented the broader price landscape during this period. The historical trajectory of BTC, coupled with the growing prevalence of corporate treasuries, underscores a convergence between traditional commerce and digital asset strategies that could shape sector-wide decision-making in the years ahead.

Sources and follow-ups on the Steak ’n Shake initiative include the company’s X posts detailing its fintech-focused transformation and its revenue-driving goals, as well as reference materials on the company’s earlier BTC payments and bonus program plans. Readers can also verify industry-wide BTC holdings at public treasury aggregators and track BTC’s price context via mainstream market data outlets.

In the longer run, investors and industry observers will want to watch for further increments to the SBR, any updates to the employee bonus program, and how the integration of BTC-based revenue channels interacts with same-store sales performance and franchise development plans. As corporate appetite for BTC grows, the coming quarters should reveal whether these structural shifts translate into sustained financial and operational advantages for Steak ’n Shake and similar operators.

Sources & verification: Steak ’n Shake’s X posts outlining fintech-driven strategy and SBR expansion; the January 18 and May disclosures related to BTC injections and acceptance; BitcoinTreasuries.Net data on public treasury BTC holdings; the company’s March 1 Bitcoin bonus plan for hourly workers; Bitcoin price data from CoinMarketCap.

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This article was originally published as Steak ‘N Shake Bolsters Its Strategic Bitcoin Reserve with $5M on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Morgan Stanley (EXCHANGE: MS) telah menunjuk Amy Oldenburg untuk memimpin unit kripto yang baru dibentuk, menandakan dorongan yang lebih dalam ke aset digital untuk sebuah bank yang telah lama mengamati sektor ini dari pinggir. Oldenburg, seorang veteran dari franchise ekuitas perusahaan dengan masa kerja yang dimulai pada tahun 2001, akan beralih menjadi kepala strategi aset digital setelah membimbing tim Ekuitas Pasar Berkembang sejak akhir 2021. Langkah ini datang saat bank mempercepat ambisi kriptonya, termasuk rencana untuk meluncurkan tiga dana yang diperdagangkan di bursa kripto dan dompet kripto yang didedikasikan. Keputusan ini menegaskan niat institusi untuk mengintegrasikan aset digital dengan lebih menyeluruh ke dalam platform penasihat dan manajemen kekayaan serta untuk menyusun produk yang dapat menarik set klien yang lebih luas. Bloomberg melaporkan pada hari Selasa tentang penunjukan Oldenburg dan pergeseran strategis, menyoroti perubahan sikap Morgan Stanley terhadap kripto.

Otoritas AS telah membuka penyelidikan resmi terhadap klaim bahwa program pemeliharaan aset federal telah disalahgunakan untuk mencuri kripto yang disita oleh lembaga pemerintah. Fokusnya tertuju pada John Daghita, putra presiden CMDSS Dean Daghita, dan apakah akses tidak sah ke dompet yang terkait dengan program perlindungan aset pemerintah memungkinkan transfer dari aset yang diyakini telah disita pada tahun 2024 dan 2025. Peneliti kripto mengatakan dompet yang terkait dengan Daghita menyimpan sekitar $23 juta dalam aset digital yang terhubung dengan sebanyak $90 juta yang disita oleh pemerintah dalam beberapa tahun terakhir. Jejak terpisah juga menunjukkan dompet yang berisi 12,540 Ether, yang bernilai sekitar $36 juta pada saat itu, yang terkait dengan Daghita. Seorang juru bicara Layanan Marshals AS mengatakan kepada wartawan bahwa masalah ini sedang diselidiki dan menolak untuk berkomentar lebih lanjut saat pejabat meninjau klaim tersebut.

Kenaikan bulanan Bitcoin telah mendingin menjadi sekitar 2,2% dalam jendela terbaru, tetapi banyak pengamat melihat Februari sebagai titik belok potensial untuk cryptocurrency terbesar. Sejak 2016, minggu yang berakhir pada 21 Feb. telah memberikan pengembalian median mendekati 8,4%, dan BTC telah ditutup lebih tinggi sekitar 60% dari minggu-minggu tersebut. Dengan volatilitas yang masih tinggi tetapi secara bertahap moderat, pelaku pasar sedang memantau sinyal makro untuk tanda-tanda nafsu risiko yang diperbarui di dalam pasar crypto.

Poin-poin penting

Februari secara historis telah menghasilkan pengembalian mingguan median yang kuat untuk BTC, sekitar 7%, seringkali melampaui kekuatan musiman Oktober.

Poin Kunci

Dengan harga Bitcoin diperdagangkan sekitar $88.000 dan biaya energi rata-rata nasional sekitar $0.14, biaya untuk menambang satu Bitcoin mendekati $95.000.

Biaya energi yang tinggi dan kisaran harga Bitcoin saat ini membuat para penambang mengalami kerugian.

Sejumlah besar perusahaan penambangan sekarang beralih ke pusat data AI.

Data konsumsi energi penambangan Bitcoin dari Indeks Konsumsi Energi Bitcoin Cambridge (CBECI) menunjukkan bahwa penambang yang membayar $0.10 per kWh untuk energi akan mengalami kerugian untuk setiap Bitcoin yang ditambang. Data CBECI menunjukkan bahwa beberapa sudah menghadapi harga ini sejak Oktober 2025, ketika biaya energi komersial rata-rata bergerak ke $0.14 per kWh. Pada tingkat ini, biaya untuk menambang satu Bitcoin sekitar $94.000, sementara harga Bitcoin sekitar $88.000 pada waktu pers.

Di seluruh ekosistem Ethereum, aktivitas terbukti persisten seiring dengan matangnya alat skalabilitas dan siklus minat investor melalui optimisme hati-hati dan risiko yang terukur. Dalam snapshot mingguan terbaru, jaringan mencatat 16,4 juta transaksi on-chain, sementara biaya lapisan dasar berhasil tetap di bawah $0,20 selama periode permintaan puncak. Aktivitas perdagangan DEX di seluruh ekosistem mendekati pertengahan 30-an dalam miliar dolar, dengan pangsa likuiditas yang signifikan mengalir melalui jaringan lapisan 2 yang terus meningkatkan throughput dan pengalaman pengguna. Di tengah aktivitas ini, Ether mengalami koreksi harga sebesar 15,9% selama tujuh hari yang berakhir pada hari Minggu, memicu likuidasi besar-besaran untuk taruhan lever yang bullish dan menimbulkan pertanyaan tentang apakah dukungan yang kuat sekitar $2.800, yang telah diuji dalam beberapa bulan terakhir, akan bertahan. Namun, data juga menunjukkan potensi pemulihan jangka pendek, dengan metrik on-chain dan posisi derivatif yang menunjukkan ruang untuk pergerakan lebih tinggi menuju zona $3.300.

London sedang mengarahkan regulasi kripto ke jalur senior yang lebih jelas, dengan Otoritas Perilaku Keuangan (FCA) mendekati sebuah rezim formal setelah sprint pembuatan aturan selama beberapa tahun. FCA merilis konsultasi akhir pada 23 Januari, menguraikan paket 10 proposal regulasi yang dirancang untuk membawa aset kripto dan bisnis kripto di bawah kerangka kerja yang terpadu. Rencana ini menargetkan proses tiga tahun yang berakhir pada Maret 2027, dengan implementasi penuh yang diharapkan pada Oktober 2027. Berbeda dengan Amerika Serikat, di mana upaya regulasi terhenti di tengah perdebatan partisan seputar Undang-Undang CLARITY, Inggris telah mengejar pendekatan terpusat yang dipimpin oleh regulator yang bertujuan untuk menyelaraskan aset digital dengan sistem keuangan yang lebih luas. Jika terwujud, kerangka kerja ini dapat menawarkan jalur kepatuhan yang lebih jelas bagi perusahaan dan perlindungan yang lebih kuat bagi konsumen, sambil memposisikan Inggris sebagai pusat baru untuk aktivitas kripto.

Selama bertahun-tahun, para trader Bitcoin (BTC) telah mengamati harga relatifnya terhadap emas (XAU) untuk petunjuk tentang kapan BTC mencapai titik terendah dalam istilah dolar AS. Namun, pada tahun 2026, sinyal BTC-ke-emas itu mulai terlihat kurang dapat diandalkan seiring dengan pergeseran dinamika makro dan rasio yang bergerak menjauh dari tolok ukur yang sebelumnya ditetapkan. Putaran terbaru terjadi saat emas mengalami kenaikan dan sentimen risiko menurun semakin intens, mendorong BTC/XAU menuju level yang sebelumnya menandakan potensi titik terendah. Pelaku pasar mempertimbangkan campuran garis tren yang telah lama berjalan, katalis makro yang dinamis, dan berkembangnya minat terhadap aset defensif saat mereka menjelajahi tahun yang telah menantang hubungan konvensional BTC–emas.

Stablecoin menimbulkan risiko nyata terhadap simpanan bank, baik secara global maupun di Amerika Serikat, menurut penilaian terbaru dari tim riset aset digital Standard Chartered. Analisis ini muncul saat Undang-Undang CLARITY AS, sebuah rancangan undang-undang yang menargetkan imbal hasil stablecoin, masih tertunda—sebuah tanda bahwa pembuat kebijakan terus memeriksa bagaimana stablecoin berinteraksi dengan perbankan tradisional. Para peneliti bank memperkirakan bahwa simpanan bank AS bisa menyusut hingga sepertiga dari kapitalisasi pasar stablecoin saat ini, sebuah sektor yang diukur sekitar $301.4 miliar dalam koin yang dipatok dolar, menurut CoinGecko. Selain angka-angka tersebut, laporan ini memetakan bagaimana bank regional dapat menanggung bagian yang lebih besar dari risiko aliran keluar simpanan dibandingkan dengan institusi yang lebih terdiversifikasi atau yang berfokus pada investasi. Temuan ini muncul saat Coinbase menarik dukungan untuk Undang-Undang CLARITY dan CEO Circle menolak kekhawatiran tentang penarikan bank sebagai tidak berdasar, menekankan debat kebijakan yang sangat terpolarisasi seputar stablecoin dan stabilitas perbankan.

Regulator sekuritas Italia telah menjatuhkan denda administratif sebesar €200.000 kepada Fabrizio Corona karena mempromosikan dan menawarkan memecoin yang dikenal sebagai $CORONA tanpa memenuhi persyaratan yang ditetapkan oleh aturan aset kripto Eropa. Sanksi ini, yang diumumkan pada 26 Januari 2026, mengikuti intervensi sebelumnya pada Maret 2025 yang menghentikan inisiatif tersebut dan memblokir platform online terkait. Regulator menyimpulkan bahwa penawaran tersebut kurang transparansi yang wajib dan struktur hukum yang diperlukan berdasarkan Regulasi Pasar dalam Aset Kripto, meningkatkan kekhawatiran tentang perlindungan investor dan transparansi di pasar memecoin yang bergerak cepat.

Pedagang Bitcoin (CRYPTO: BTC) sedang mengamati sebuah konvergensi sinyal momentum yang secara historis menandakan pergerakan besar, tetapi data on-chain menunjukkan jalan yang hati-hati di depan karena peserta pasar cenderung defensif. Sebuah perpotongan baru antara indikator momentum yang terkait dengan kurva hasil utama telah membangkitkan optimisme untuk sebuah breakout, namun aktivitas spot dan arus dana menunjukkan adanya hambatan yang berkepanjangan. Perbandingan sinyal bullish dengan tawaran segera yang lesu menekankan pasar yang mungkin memerlukan waktu untuk mengembalikan momentum kenaikan, bahkan saat investor mempertimbangkan risiko makro dan posisi kebijakan.

Catatan editor: Global Blockchain Show Abu Dhabi 2025 telah berakhir setelah dua hari diskusi yang mempertemukan pembuat kebijakan, perusahaan, investor, dan pengembang dari seluruh ekosistem Web3. Diselenggarakan oleh VAP Group dan diadakan di Abu Dhabi, acara ini fokus pada adopsi blockchain praktis, kerangka regulasi, dan konvergensi blockchain dengan AI dan aset digital. Dengan partisipasi pemerintah yang kuat dan kehadiran internasional yang besar, acara ini menyoroti bagaimana Timur Tengah, dan UEA khususnya, memposisikan dirinya sebagai pusat untuk Web3 tingkat perusahaan, aplikasi dunia nyata, dan inovasi yang didorong oleh institusi.

Catatan editor: Global Games Show Abu Dhabi 2025 ditutup pada bulan Desember sebagai pertemuan industri dua hari yang berfokus pada konvergensi permainan, Web3, esports, AI, dan teknologi imersif. Diselenggarakan di Abu Dhabi dan diproduksi oleh VAP Group, acara ini mengumpulkan pengembang, penerbit, investor, pembuat kebijakan, dan penyedia teknologi untuk membahas bagaimana permainan berkembang menjadi ekonomi digital yang lebih luas yang dibangun di sekitar kepemilikan, data, dan model yang didorong oleh komunitas. Dengan partisipasi yang kuat dari pembicara global dan pemangku kepentingan regional, acara ini menyoroti peran berkembang Abu Dhabi sebagai pusat untuk permainan generasi berikutnya, ekonomi berbasis blockchain, dan hiburan interaktif.

Catatan editor: Global AI Show Abu Dhabi 2025 telah selesai setelah dua hari diskusi, pameran, dan keterlibatan tingkat tinggi yang berfokus pada adopsi praktis kecerdasan buatan di seluruh pemerintah dan industri. Diselenggarakan di Abu Dhabi, acara ini mempertemukan pembuat kebijakan, pemimpin perusahaan, investor, dan teknolog untuk memeriksa bagaimana AI bergerak dari eksperimen ke penerapan skala besar. Dengan keselarasan yang kuat terhadap Strategi AI UAE 2031, acara ini menyoroti regulasi, AI yang bertanggung jawab, dan kasus penggunaan dunia nyata di berbagai sektor termasuk keuangan, kesehatan, keamanan siber, dan infrastruktur cerdas.

Australian regulators secured a sweeping victory against BPS Financial Pty Ltd, ordering the company to pay 14 million AUD in penalties after a years-long probe into its Qoin Wallet promotion. The Federal Court ruling stems from ASIC accusations that BPS ran an unlicensed financial services business and issued misleading statements about its crypto-linked payment product, with activity spanning January 2020 to mid-2023. The regulator noted that the firm marketed the Qoin Wallet as a non-cash payment facility tied to its Qoin token while providing financial advice without an Australian Financial Services Licence. The outcome, disclosed in an ASIC release, reinforces the expectation that crypto-facilitated offerings operate under proper licensing and rigorous disclosures.

The penalty package broke down into 1.3 million AUD for unlicensed conduct and 8 million AUD for misleading and deceptive representations. In her judgment, Judge Downes described BPS’s actions as serious and unlawful misconduct, highlighting the involvement of senior management and the company’s insufficient compliance systems. Beyond the monetary sanction, the court imposed a decade-long operating ban on BPS from running a financial services business without a licence, and it ordered the firm to publish court-mandated notices on the Qoin Wallet app and website. The company was also ordered to shoulder most of ASIC’s legal costs. You can read the official release here: ASIC release.

ASIC’s proposed penalty for BPS Financial’s misleading conduct. Source: ASIC

In addition to the sanctions, the court ordered BPS to undertake a wide set of restrictions for the next ten years, effectively barring the company from operating a financial services business without a licence. The penalties also included a requirement to publicize the outcome on both the Qoin Wallet app and its website, ensuring that users are aware of the court’s findings about the product’s representations. ASIC was also granted a substantial portion of its legal costs, reinforcing regulators’ willingness to recoup enforcement expenses in high-profile cases involving crypto promotions.

The case traces back to a broader enforcement push by ASIC against firms promoting crypto-related products without proper licensing. In 2022, ASIC initiated civil penalty proceedings against BPS Financial over alleged misleading claims and unlicensed conduct tied to its Qoin token. Subsequent judgments in 2024, and an appeal upheld in 2025, reinforced that BPS had engaged in misleading and deceptive conduct by asserting regulatory approvals, easy exchangeability for fiat or other crypto-assets, and widespread merchant acceptance for Qoin Wallet. These findings framed the latest court decision as part of a continuing trajectory of tightened scrutiny over crypto promotions and licensing compliance.

Beyond the BPS case, ASIC has signaled a broader shift in how crypto assets should be distributed and managed. In December, the regulator finalized exemptions intended to simplify the distribution of stablecoins and wrapped tokens, reducing the need for intermediaries to hold separate Australian Financial Services licences. The change, described as enabling firms to operate with omnibus accounts under tighter record-keeping regimes, aims to lower compliance costs for players in the digital asset and payments space. The regulator’s outlook for 2026 highlighted several risk areas, including opaque private credit exposures, operational failures in superannuation, high-risk investment sales, and AI-driven consumer harm, all within a broader context of adapting oversight for digital assets and fintech.

Why it matters

The BPS case underscores a fundamental principle for crypto-related offerings: licensing and clear, accurate disclosures matter just as much as product innovation. For investors and users, the decision reinforces the notion that crypto-linked payment products may carry regulated protections, and that promoters must be transparent about licensing status, exchangeability, and merchant acceptance. The ruling also signals that regulators will not hesitate to impose sizeable penalties and long-term bans on entities that simplify or obscure the regulatory framework, particularly when complex or volatile assets are involved.

From a market perspective, the decision feeds into a broader regulatory narrative shaping the crypto ecosystem in Australia and beyond. With licensing exemptions for stablecoins and wrapped tokens now in play, firms can pursue more cost-effective pathways to offer digital-asset services, provided they comply with record-keeping and disclosure standards. At the same time, the enforcement actions against BPS illustrate that regulators are willing to intervene decisively where marketing communications blur the line between investment products and payment facilities. This dynamic may influence how exchanges, wallets, and payment processors structure product literature, risk disclosures, and licensing sponsorships as they expand their footprints in regulated markets.

For builders and operators in the Australian market, the case serves as a cautionary tale about governance and compliance architecture. Firms must ensure that senior leadership is aligned with licensing obligations, that advisory activities are properly licensed, and that representations about exchangeability and merchant acceptance are technically accurate and verifiable. In a space where volatility and complexity are inherent, clarity and regulatory alignment become competitive differentiators rather than mere compliance burdens.

What to watch next

Publicity notices on the Qoin Wallet app and website must run as ordered, signaling how regulators enforce post-judgment communications.

ASIC’s cost recovery implications will influence how firms budget for enforcement actions and potential future penalties.

The 10-year operating ban raises questions about BPS’s ability to restructure or re-enter the financial services arena under different branding or ownership.

The December stablecoin exemptions will likely affect onboarding strategies for firms seeking to deploy wrapped token or stablecoin-based services without triggering full licensing requirements.

Regulators’ 2026 outlook points to ongoing focus areas in digital assets, AI-related consumer risk, and fintech regulatory gaps, potentially shaping future policy and enforcement priorities.

Sources & verification

ASIC press release: 26-008MR – BPS Financial to pay 14 million AUD in penalties over crypto Qoin Wallet. https://www.asic.gov.au/about-asic/news-centre/find-a-media-release/2026-releases/26-008mr-bps-financial-to-pay-14-million-in-penalties-over-crypto-qoin-wallet/?utm_source=miragenews&utm_medium=miragenews&utm_campaign=news

Judgment document: 26-008MR Australian Securities and Investments Commission v BPS Financial Pty Ltd (PDF). https://download.asic.gov.au/media/m3miycxe/26-008mr-australian-securities-and-investments-commission-v-bps-financial-pty-ltd-penalty-2026-fca-18.pdf

Civil penalty proceedings (2022) – ASIC’s enforcement action against BPS Financial over Qoin wallet claims. https://cointelegraph.com/news/asic-fires-industry-warning-shot-as-it-sues-bps-financial-over-crypto-promo

Earlier judgments (2024) and appeal (2025) – BPS Financial Qoin token deception case. https://cointelegraph.com/news/asic-bps-financial-qoin-token-deception-case

Key issues outlook 2026 – ASIC report on regulatory priorities and risk areas. https://asic.gov.au/about-asic/news-centre/news-items/key-issues-outlook-2026/

Rewritten Article Body

Regulatory verdict underscores licensing demands for crypto promos

In a decision that magnifies the regulatory glare on crypto promotions, the Federal Court ruled against BPS Financial Pty Ltd in a case centered on the Qoin Wallet. The court found that from early 2020 through mid-2023, the firm launched and promoted a crypto-linked payment product without the necessary Australian Financial Services Licence, a finding that forms the cornerstone of ASIC’s enforcement narrative. The ruling confirms that presenting a digital-asset-based payment facility as a viable non-cash alternative must be backed by formal licensing and compliant disclosures, especially when investment-adjacent risks loom large.

The financial penalties reflect a dual fault line: unlicensed activity and misleading representations. The court quantified penalties at 1.3 million AUD for unlicensed conduct and 8 million AUD for statements that misled or deceived potential users or investors about the Qoin Wallet’s status, exchangeability with fiat currencies, and merchant acceptance. The judgment paints a picture of a company that pushed forward a promotional narrative without the safeguards regulators expect for financial products—narratives that could have misled consumers about both risk and liquidity. The decision also obligates BPS to cover a substantial portion of ASIC’s legal costs, underscoring the seriousness with which the regulator treats cases of this kind and signaling a broader intention to deter similar conduct in the sector.

The court’s assessment labeled the misconduct as substantial and unlawful, noting the involvement of senior management and the company’s insufficient compliance program. This finding matters because it highlights a governance threshold: when leadership shapes or tolerates misleading communications about a product that sits at the intersection of payments and investment, the accountability framework tightens. The ten-year prohibition on operating a financial services business without a licence is a stark reminder that regulatory creep—especially in crypto-adjacent services—can outlast the lifecycle of a promotional campaign. The visual embodiment of this outcome, the accompanying regulatory notice, and the binding nature of the decision collectively illustrate how penalties extend beyond the monetary domain to reshape an entity’s future operations.

The Qoin Wallet case existed within a broader enforcement arc. ASIC’s civil penalty action in 2022 and subsequent judgments—handed down in 2024 and upheld on appeal in 2025—centered on misleading assurances about regulatory approvals, fiat-exchange mechanisms, and merchant uptake. The line of rulings constructs a precedent: crypto products marketed with claims of legitimacy or broad acceptance require explicit licensure and verifiable representations. In this sense, the BPS decision is not an isolated incident; it is a milestone in the Australian regulator’s ongoing effort to align crypto offerings with traditional financial-services norms, even as the market continues to evolve rapidly around tokens and digital wallets.

Beyond punitive measures, the decision interacts with a regulatory shift that could influence how crypto firms structure their distribution strategies. December’s exemptions, intended to streamline the distribution of stablecoins and wrapped tokens, reduce the friction of licensing while increasing the emphasis on robust record-keeping. For firms operating in Australia, the shift offers a pathway to bring innovative products to market with lower compliance friction, provided they remain transparent about licensing status and maintain rigorous disclosures. That balance—between enabling innovation and preserving investor protections—appears to be a central theme for the year ahead, as regulators articulate more precise boundaries for consumer-facing crypto products.

The decision also feeds into a wider industry narrative about risk management and consumer protection in digital assets. Regulators are increasingly wary of promotional narratives that blur lines between payment functionality and investment exposure, particularly in volatile markets where pricing can swing dramatically. For users, the outcome reinforces the importance of due diligence; for firms, it underscores the need to align product marketing with licensed activities and to communicate risk in straightforward terms. For market participants watching the space, the BPS case demonstrates that licensing regimes are not optional add-ons but integral components of product design and go-to-market strategy—especially when a product sits at the crossroads of payments and asset exposure.

As the regulatory environment evolves, market watchers will likely monitor how the ongoing licensing reforms interact with enforcement actions. The combination of penalties, long-term operating bans, and mandated publicity sets a precedent that could influence corporate governance, internal compliance audits, and external communications in the crypto payments segment. In Australia’s evolving landscape, operators must anticipate a future where licensing and disclosures are non-negotiable prerequisites for product launches, promotions, and user-facing communications, shaping both the speed and style of innovation in the sector.

This article was originally published as Court Orders $9.3M Penalty on BPS Financial for Qoin Product on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Ripple has partnered with Jeel Movement, the innovation arm of Riyad Bank, to explore the use of blockchain technology within Saudi Arabia’s financial system.

Key Takeaways

Ripple and Jeel Movement have partnered to co-develop blockchain-based cross-border payment tools.

The partnership focuses on cross-border payments, digital asset custody, and tokenization in support of Saudi Arabia’s Vision 2030 agenda.

This partnership marks a growing trend of blockchain adoption in the Middle East, with countries in the region adopting clear regulations on digital assets.

The partnership was announced on Monday, 26th, by Reece Merrick, Ripple’s senior executive officer and managing director for the Middle East and Africa. Merrick noted that the arrangement will take the form of a memorandum of understanding that focuses on cross-border payments, digital asset custody, and asset tokenization.

More big news from the Middle East! @Ripple is partnering with @Jeelmovement, the innovation arm of @RiyadBank, to advance Saudi Arabia’s financial future through blockchain innovation

The Kingdom’s visionary leadership has established Saudi Arabia as a forward-thinking… pic.twitter.com/KhQ7giluhE

— Reece Merrick (@reece_merrick) January 26, 2026

A Path Towards Saudi Arabia’s Vision 2030

This partnership fits directly into Saudi Arabia’s Vision 2030, an agenda that aims to modernize the country’s economy and financial system while reducing dependence on oil exports.

Jeel Movement operates as Riyad Bank’s technology and innovation unit that works with fintech firms and technology partners to develop, test, and seek licensing for new solutions. Given that Riyad Bank is one of the largest banks in Saudi Arabia, this partnership allows Ripple to test and develop blockchain tools for Saudi financial services.

The initial focus will be on how to make cross-border payments cheap and faster, as it has remained a core challenge for banks and corporate clients for a while. In addition, they may also extend the work to the tokenization of real-world assets.

Under the agreement, both sides will run technology trials inside Jeel’s regulatory sandbox. This way, financial institutions and technology providers can test new systems under regulatory oversight before broader market deployment.

Blockchain Gaining Adoption in the Middle East

This Jeel-Ripple partnership follows a growing pattern of blockchain adoption in the Middle East. Countries in this region have shown increased interest in blockchain technology for payments, trade finance, and digital asset services. For instance, regulators in Dubai and Abu Dhabi have introduced digital asset regulations that give companies a clearer path to operate within traditional financial markets.

Therefore, as this partnership project moves from testing to live systems, Saudi Arabia also moves a step closer to its Vision goals.

This article was originally published as Ripple Enters Saudi Arabia to Build New Financial Architecture on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Washington — Sebuah undang-undang kripto kunci di Senat menghadapi hambatan prosedural saat Senator Roger Marshall dilaporkan mundur dari dorongan untuk mengajukan amandemen kontroversial mengenai persaingan biaya gesek. Amandemen tersebut, yang seharusnya memaksa jaringan kartu untuk bersaing dalam biaya gesek, diajukan minggu lalu tetapi, menurut Politico, Marshall secara pribadi setuju untuk tidak menekannya selama markup Komite Pertanian minggu depan. Markup tersebut awalnya dijadwalkan pada hari Kamis tetapi dipindahkan ke Selasa, 3 Feb, setelah badai musim dingin mengganggu operasi di sebagian besar negara. Undang-undang yang dipertanyakan menetapkan bagaimana regulator akan mengawasi sektor kripto, sebuah bagian sentral dalam upaya yang sedang berlangsung untuk merancang kerangka nasional yang menyeimbangkan inovasi dengan perlindungan konsumen.

Polymarket telah menandatangani perjanjian multi-tahun dengan Major League Soccer (MLS) untuk menjadi mitra pasar prediksi eksklusif liga untuk MLS dan Leagues Cup, kompetisi unggulan liga di tengah musim. Kolaborasi ini bertujuan untuk menggabungkan data langsung, statistik, dan analitik sentimen ke dalam pengalaman penggemar, memberikan keterlibatan layar kedua yang melampaui tontonan tradisional. Kesepakatan ini merupakan langkah signifikan dalam upaya berkelanjutan untuk menggabungkan hiburan olahraga dengan fitur taruhan berbasis data, menandakan dorongan yang lebih luas untuk mengubah momen pertandingan menjadi narasi interaktif waktu nyata bagi penggemar.

Penurunan kapitalisasi pasar stablecoin total sebesar $2,24 miliar dalam 10 hari terakhir bisa menandakan bahwa modal meninggalkan ekosistem crypto dan dapat memperlambat pemulihan pasar, menurut sebuah platform analitik crypto. Dalam sebuah posting di X pada hari Senin, Santiment mengatakan bahwa sebagian besar modal tersebut telah berputar ke tempat aman tradisional seperti emas dan perak, mendorong mereka ke tingkat tertinggi baru, sementara Bitcoin (CRYPTO: BTC), pasar crypto yang lebih luas, dan stablecoin telah mengalami penurunan. Investor sedang mengawasi apakah penurunan lambat dalam stablecoin menandakan siklus penghindaran risiko yang lebih luas atau hanya jeda sementara sebelum tawaran crypto yang diperbarui.