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In a landmark move for Southeast Asian financial markets, the Thai government has officially recognized cryptocurrencies as underlying assets under the Derivatives Trading Act. Following a proposal from the Ministry of Finance approved on February 10, 2026, digital assets like Bitcoin and Ethereum are now classified as “permissible goods and variables.” This legal reclassification allows for the creation and trading of regulated futures and options contracts, effectively shifting cryptocurrency from a speculative standalone product to a foundational pillar of Thailand’s regulated capital markets.

The Securities and Exchange Commission (SEC) is now tasked with drafting the specific regulatory requirements to govern this new market segment. SEC Secretary-General Pornanong Budsaratragoon noted that the agency will amend existing derivatives business licenses to allow digital asset operators to offer these advanced financial instruments. To safeguard investors against the sector’s inherent volatility, the SEC will establish rigorous contract specifications and review the frameworks for brokers and clearinghouses to ensure they meet institutional-grade standards.

Beyond derivatives, Thailand is aggressively pursuing a broader digital asset roadmap for 2026. The SEC has confirmed plans to launch crypto Exchange-Traded Funds (ETFs) earlier this year, aiming to provide retail and institutional investors with a regulated vehicle to gain exposure to digital assets without the complexities of wallet management. Under current proposals, investors may be permitted to allocate up to 5% of their diversified portfolios to these digital asset products. Furthermore, the SEC is collaborating with the Thailand Futures Exchange (TFEX) to facilitate the debut of Bitcoin futures, reinforcing the nation’s goal to become a regional “crypto trading powerhouse.”

Innovation is also extending into the real economy through the tourism sector. The “TouristDigiPay” initiative, launched as a regulatory sandbox, now allows travelers to convert their digital assets into Thai Baht for use at local merchants via the country’s national QR payment infrastructure. While direct crypto payments remain restricted, this system ensures that merchants receive local currency while offering travelers a seamless way to utilize their digital wealth. Simultaneously, the government is modernizing environmental finance by reclassifying carbon credits as “goods,” paving the way for physically delivered carbon credit futures as Thailand aligns its financial innovation with global sustainability goals.

Coinbase has officially launched Agentic Wallets, a first-of-its-kind infrastructure specifically engineered for autonomous AI agents. Announced by the Coinbase Developer Platform on February 11, 2026, this new tool allows AI bots to move beyond their traditional roles as digital assistants and emerge as independent economic actors. By providing agents with the ability to hold funds, execute trades, and manage on-chain transactions autonomously, Coinbase is addressing a significant technical hurdle: the “financial wall” that currently prevents AI from completing tasks that require capital.

The development of Agentic Wallets is a strategic expansion of Coinbase’s existing technology, building upon the previously released AgentKit framework. While AgentKit allowed developers to embed wallets during the creation of an agent, Agentic Wallets provides a more “plug-and-play” solution designed for seamless integration. The system relies on the x402 protocol – a machine-to-machine payment standard co-developed with internet stakeholders – which has already processed over 50 million transactions. This protocol enables AI agents to bypass traditional human-centric payment systems, facilitating direct, programmatic access to digital resources like API keys, compute power, and premium data streams.

Security remains a primary focus of the new infrastructure, as autonomous financial software introduces unique risks such as prompt injection and unauthorized spending. To mitigate these threats, Coinbase has integrated “Smart Security Guardrails” that allow users to program specific constraints, including spending limits, session caps, and transaction controls. Furthermore, the system utilizes “enclave isolation,” a security architecture that keeps private keys within Coinbase’s secure infrastructure. This ensures that the agent’s underlying large language model (LLM) never has direct exposure to the keys, effectively preventing the AI from accidentally or maliciously compromising the wallet’s security.

The operational scope of Agentic Wallets is broad, with initial support for Ethereum Virtual Machine (EVM) compatible chains and Solana. A key highlight for developers is the ability to perform gasless transactions on Base, the Coinbase-incubated Layer 2 network, which prevents agents from becoming “stuck” due to a lack of network fees. This capability allows for continuous, 24/7 operations, such as an agent automatically rebalancing a DeFi portfolio at 3:00 AM to capitalize on yield opportunities. By providing a native financial layer for code, Coinbase is laying the groundwork for a burgeoning “machine economy” where AI systems operate independently within trusted boundaries.

Analis pasar langsung mengarah ke pencalonan Kevin Warsh sebagai Ketua Federal Reserve berikutnya sebagai katalis utama untuk penurunan. Menurut Andri Fauzan Adziima, kepala penelitian di Bitrue, pergerakan turun mengikuti pergeseran hawkish dalam ekspektasi Fed, yang menunjukkan likuiditas yang lebih ketat dan lebih sedikit pemotongan suku bunga ke depan. Para trader sekarang mengawasi dengan cermat untuk stabilisasi harga di sekitar level dukungan $60.000 hingga $65.000, mencatat bahwa percikan baru dalam pelonggaran makro kemungkinan diperlukan untuk memicu rebound yang berarti, The Block melaporkan.

Recent blockchain data has sparked intense debate across the digital asset industry as it reveals that Binance now controls the vast majority of the circulating supply of USD1, a stablecoin closely associated with World Liberty Financial (WLFI). According to a report from Forbes on Monday, the world’s largest cryptocurrency exchange holds approximately $4.7 billion in USD1, representing nearly 87% of the token’s $5.4 billion total supply. This level of concentration is considered an anomaly in the stablecoin market, where leading assets like USDT and USDC are typically distributed across a wide network of independent wallets and global exchanges.

The rapid consolidation of USD1 on Binance appears to be the result of a series of strategic integrations and high-value corporate deals occurring over the past year. In early 2025, the Abu Dhabi-backed fund MGX utilized $2 billion worth of USD1 to acquire a minority stake in Binance, immediately placing a significant portion of the stablecoin’s reserves under the exchange’s custody. More recently, in December 2025, Binance further integrated the asset by converting the remaining collateral from its defunct BUSD stablecoin into USD1. Aggressive promotional campaigns have also played a role; in late January, Binance launched a $40 million reward program, distributing WLFI governance tokens to users who hold USD1 on the platform, which significantly boosted on-chain activity.

The ties between the stablecoin and the current U.S. administration have added a layer of political scrutiny to these financial developments. USD1 is issued by World Liberty Financial, a venture founded by the Trump family, with an affiliated LLC owning a 38% stake in the company. Financial disclosures indicate the project has already contributed roughly $1 billion to President Donald Trump’s net worth. The relationship between the exchange and the project has faced additional questioning following President Trump’s October 2025 pardon of Binance founder Changpeng Zhao. While both Binance and World Liberty Financial maintain that their partnerships follow standard industry practices, the SEC recently dropped a long-standing lawsuit against the exchange shortly after it listed USD1.

Market analysts and security researchers warn that such extreme concentration creates significant systemic and governance risks. If a single entity controls nearly 90% of an asset, any technical failure, legal dispute, or financial stress at that exchange could effectively freeze the entire USD1 ecosystem. Furthermore, transparency remains a primary concern, as it is currently unclear what portion of the $4.7 billion held by Binance belongs to the exchange itself versus its individual customers. As USD1 continues to expand into decentralized lending and prediction markets, the industry remains focused on whether this centralized influence will hinder the stablecoin’s long-term stability and regulatory standing.

Backpack, bursa cryptocurrency yang didirikan oleh mantan eksekutif FTX dan Alameda Research, secara resmi telah mencapai status unicorn, lapor Axios pada hari Senin. Perusahaan dilaporkan sedang dalam diskusi untuk mengamankan $50 juta dalam pembiayaan baru, yang akan menempatkan valuasi pra-uang mereka di $1 miliar. Lonjakan valuasi ini menyoroti pemulihan signifikan dan jalur pertumbuhan bagi tim, yang beralih dari proyek dompet berbasis Solana menjadi platform perdagangan global yang komprehensif.

Pengumuman putaran pendanaan ini bertepatan dengan pengenalan skema tokenisasi inovatif Backpack, yang bertujuan untuk mendefinisikan kembali bagaimana token pertukaran didistribusikan dan dikelola. Di bawah rencana ini, 37,5% dari total pasokan token 1 miliar dicadangkan untuk kas perusahaan "pasca-IPO". Salah satu pendiri, Armani Ferrante, menjelaskan bahwa struktur ini dirancang khusus untuk mencegah praktik umum "penjualan" token kepada investor ritel. Dengan mengikat imbalan finansial tim kepada pencatatan publik atau keluar ekuitas yang akhirnya, perusahaan bermaksud untuk memastikan keselarasan jangka panjang antara pengembang dan komunitas.

Binance telah mempercepat pergeseran strategisnya menuju Bitcoin dengan membeli tambahan 3,600 BTC untuk Dana Aset Aman untuk Pengguna (SAFU). Akuisisi ini, yang dilaksanakan menggunakan sekitar $250 juta dalam stablecoin, membawa total kepemilikan Bitcoin dana darurat menjadi 6,230 BTC. Langkah ini merupakan bagian penting dari rencana agresif yang diumumkan pada 29 Januari untuk mengonversi cadangan perlindungan pengguna senilai $1 miliar dari token yang terikat dolar menjadi Bitcoin dalam jangka waktu 30 hari.

Bursa telah menggambarkan transisi ini sebagai pernyataan keyakinan jangka panjang, menggambarkan Bitcoin sebagai aset dasar dari ekosistem kripto. Dengan memindahkan cadangan SAFU ke dalam Bitcoin, Binance bertujuan untuk memastikan bahwa cadangan tetap transparan, dapat diaudit, dan tahan terhadap inflasi. Untuk mempertahankan efektivitas dana, Binance telah berjanji untuk menjaga nilai cadangan pada $1 miliar, berjanji untuk mengisinya kembali jika volatilitas pasar pernah mendorong total valuasi di bawah tanda $800 juta.

The Royal Government of Bhutan, operating through its sovereign investment arm, Druk Holding & Investments (DHI), has mobilized more than 284 Bitcoin – valued at approximately $22.3 million – over the past week,  

According to on-chain analytics from Arkham Intelligence, the movement included a notable transfer of 184 BTC worth $14.1 million on Wednesday, following a previous transaction of 100 BTC worth $8.3 million last Friday. These funds were directed to Singapore-based market maker QCP Capital, a destination typically associated with institutional liquidity management and asset repositioning.

While these transfers do not confirm an outright sale, they follow a documented pattern of “structured clips” where Bhutan offloads assets in batches of approximately $50 million. Market analysts are watching the activity closely as Bitcoin faces significant price pressure, having tumbled roughly 40% from its October 2025 all-time high of $126,000 to levels near $70,000. 

The kingdom’s total reserves have notably declined from a peak of 13,295 BTC in late 2024 to roughly 5,700 BTC at present, a shift that has seen Bhutan slip to the seventh-largest sovereign holder globally.

Bhutan’s approach to digital assets remains unique because its holdings are generated through state-backed mining operations rather than legal seizures. By leveraging its vast hydroelectric resources, the nation effectively converts surplus renewable energy into liquid foreign currency reserves. 

This strategic mining initiative, which began as early as 2019, has reportedly funded national priorities such as civil servant salary increases and infrastructure development, even as the cost of production has nearly doubled following the most recent halving event.

Beyond Bitcoin, the nation’s treasury activity suggests a sophisticated and active management style rather than passive holding. On-chain data recently flagged $1.5 million in USDT moving between exchange-linked wallets and DHI addresses, alongside various Ethereum transactions. 

As the Himalayan kingdom continues to integrate digital assets into its macroeconomic strategy -including plans to fund the “Gelephu Mindfulness City” initiative – its on-chain movements have become a critical psychological bellwether for institutional and sovereign sentiment in the crypto market.

 

Tether, penerbit stablecoin terbesar di dunia, mengumumkan investasi ekuitas strategis sebesar $100 juta di Anchorage Digital pada hari Kamis, menandakan komitmen yang lebih dalam terhadap infrastruktur aset digital yang diatur di AS. Investasi ini menilai Anchorage Digital—bank aset digital pertama yang disetujui secara federal di Amerika Serikat – sebesar $4,2 miliar. Langkah ini datang saat Tether beralih menuju sikap yang lebih patuh setelah GENIUS Act, undang-undang landmark stablecoin yang ditandatangani menjadi hukum musim panas lalu.

CME Group saat ini sedang menjajaki pengembangan token digitalnya sendiri sebagai bagian dari pergeseran strategis untuk memodernisasi infrastruktur digitalnya. Chief Executive Officer Terry Duffy mengungkapkan inisiatif tersebut selama panggilan pendapatan kuartal keempat perusahaan pada 4 Februari, menjelaskan bahwa bursa sedang mengevaluasi cara-cara baru untuk menangani jaminan dan margin untuk derivatif kripto. Proyek ini, yang sering disebut sebagai “CME Coin,” bertujuan untuk memfasilitasi perdagangan yang lebih efisien di pasar yang beroperasi 24/7, berbeda dengan jam bank tradisional yang sering membatasi kecepatan penyelesaian.

Binance telah mengamankan posisi teratas dalam Laporan Peringkat Cadangan Pertukaran Kripto Utama Januari 2026, mempertahankan keunggulan yang jelas di pasar aset digital global. Menurut data terbaru dari CoinMarketCap, total cadangan Binance telah mencapai sekitar $155,64 miliar. Angka ini secara signifikan melampaui semua platform perdagangan utama lainnya, memperkuat peran Binance sebagai pemimpin Tier 1 yang jelas di pasar. Laporan tersebut menyoroti skala dominan Binance dalam kepemilikan bukti cadangan, yang mencerminkan posisi bursa sebagai tempat likuiditas terbesar di pasar kripto global. CoinMarketCap mencatat bahwa cadangan Binance jauh lebih besar daripada total gabungan banyak pesaing, berfungsi sebagai indikator utama skala platform dan dominasi pasar.

Tether, the company behind the world’s most widely used stablecoin, has officially released MiningOS (MOS), an open-source operating system designed to overhaul how Bitcoin mining operations are managed. The launch represents a direct challenge to the proprietary, vendor-controlled software that has long dominated the sector. By open-sourcing the software under an Apache 2.0 license, Tether aims to provide a transparent alternative for miners, ranging from small-scale home enthusiasts to massive industrial operators, as it continues to expand its footprint in global crypto infrastructure.

Built on a modular, peer-to-peer architecture, MiningOS allows operators to monitor and automate their hardware, energy consumption, and site-level infrastructure within a single, unified layer. Unlike existing fragmented software stacks that often rely on centralized services, MOS is designed to be hardware-agnostic, meaning it can function across various types of mining rigs without locking users into specific manufacturers. Tether CEO Paolo Ardoino noted that the system is built to make mining infrastructure more accessible and scalable across different geographies, ensuring that new entrants can compete without the burden of expensive, closed-source management tools.

This strategic move aligns Tether with other industry advocates for open infrastructure, such as Jack Dorsey’s Block, and marks a significant evolution for the company beyond its core stablecoin business. Tether reported a staggering net profit of over $10 billion in 2025, largely fueled by interest income on its reserves. This financial strength has allowed the firm to diversify aggressively into tokenized commodities like gold, energy production, and various payment infrastructures. Along with the operating system, Tether also unveiled a Mining SDK, which will serve as the underlying framework for future community-led development.

The release of MOS comes at a time when the mining industry is increasingly focused on efficiency and transparency. By providing a free, customizable toolset, Tether is positioning itself as a foundational player in the physical security of the Bitcoin network. As the company rolls out new products like the U.S.-focused USAT stablecoin, the launch of MiningOS signals Tether’s intent to move away from being just a financial intermediary and toward becoming a central architect of the decentralized digital economy.

Bank Gulf Singapura (SGB), sebuah bank digital grosir yang sepenuhnya berlisensi dan didukung oleh Grup Whampoa serta dana kekayaan negara Bahrain, Mumtalakat, telah secara resmi mengumumkan layanan interoperabilitas stablecoin baru yang dirancang untuk mempermudah keuangan institusional. Platform ini, yang diharapkan akan diluncurkan pada kuartal pertama tahun 2026, akan memungkinkan klien korporat untuk mencetak, memperdagangkan, dan mengonversi stablecoin menjadi mata uang fiat dalam satu lingkungan yang diatur. Penawaran baru ini memperluas kemampuan SGB Net, jaringan clearing waktu nyata milik bank yang saat ini memproses lebih dari $2 miliar dalam volume transaksi fiat bulanan untuk perusahaan aset digital di seluruh koridor Asia-GCC, menurut laporan oleh Crypto News.

Pasar cryptocurrency mengalami penjualan besar-besaran pada Kamis malam, dengan Bitcoin (BTC) terjun ke level terendah $81,000 sebelum melakukan pemulihan yang lemah ke level $82,000. Keruntuhan mendadak ini telah menghapus hampir $10,000 dari nilai aset unggulan dalam waktu 24 jam.

Pembantaian tidak terbatas pada Bitcoin. Altcoin utama mengalami penurunan tajam antara 7% hingga 9%, dengan Ether (ETH) berjuang untuk mempertahankan $2,700, sementara BNB dan XRP merosot ke $843 dan $1.74, masing-masing.

Menurut data dari CoinGlass, volatilitas memicu peristiwa likuidasi besar-besaran. Lebih dari $777 juta dalam posisi “long” yang diperdagangkan dengan leverage ditutup secara paksa dalam satu jam saat harga jatuh. Selama periode 24 jam penuh, total likuidasi melonjak menjadi $1.75 miliar, menandai salah satu peristiwa deleveraging paling signifikan tahun 2026.

Talos yang berbasis di New York, penyedia infrastruktur aset digital institusional, teknologi, dan data yang mendukung seluruh siklus perdagangan dan manajemen portofolio, mengumumkan perpanjangan Seri B senilai $45 juta pada 29 Januari 2026. Suntikan modal strategis ini membawa total pendanaan Seri B perusahaan menjadi $150 juta dan meningkatkan valuasi pasca-uang menjadi sekitar $1,5 miliar. Putaran ini menampilkan daftar investor strategis baru yang terkenal, termasuk Robinhood Markets, Sony Innovation Fund, IMC, QCP, dan Karatage, yang bergabung dengan raksasa yang kembali seperti a16z crypto, BNY, dan Fidelity Investments.

Rusia sedang mempersiapkan untuk meluncurkan kerangka regulasi komprehensif untuk cryptocurrency pada bulan Juli ini, menandai perubahan signifikan menuju legalisasi partisipasi ritel di pasar aset digital lokal.

Anatoly Aksakov, ketua Komite Duma Negara untuk Pasar Keuangan, baru-baru ini memberitahukan Gazet Parlemen bahwa seperangkat aturan yang akan datang akan diselesaikan untuk pemungutan suara pada akhir bulan Juni. Sementara legislasi diharapkan disetujui segera setelah itu, kerangka tersebut tidak akan mulai berlaku sepenuhnya hingga satu tahun kemudian, yang berarti baik investor yang memenuhi syarat maupun yang tidak akan secara resmi diizinkan untuk memperdagangkan aset kripto mulai 1 Juli 2027.

Dalam sebuah langkah yang menghubungkan keamanan Dunia Lama dengan keuangan Dunia Baru, Tether Holdings SA telah mengubah bunker nuklir Swiss era Perang Dingin menjadi cadangan emas non-kedaulatan terbesar di dunia.

Raksasa stablecoin tersebut dilaporkan mengakuisisi lebih dari satu ton bullion per minggu, sebuah laju akumulasi yang telah mengubah perusahaan asli kripto menjadi kekuatan sistemik di pasar logam mulia global. Brankas berkeamanan tinggi, yang dipahat ke dalam Pegunungan Alpen Swiss, kini menyimpan simpanan yang melebihi kepemilikan banyak negara menengah.

The Ethereum ecosystem is currently preparing for a significant infrastructure shift as the official ERC-8004 standard is confirmed for mainnet deployment this week. Initially teased by the Ethereum Foundation on January 27, this new protocol marks a pivotal moment in the 2026 roadmap to transform the network into a foundational layer for the global agentic economy. Often referred to as the “Trustless Agents” standard, ERC-8004 introduces a comprehensive framework designed to solve the growing identity crisis faced by autonomous AI systems.

As AI-to-AI interactions begin to surpass human transactions in volume, the standard establishes three critical on-chain pillars to facilitate secure communication. The first is an Identity Registry, which assigns a unique and portable AgentID to every autonomous system, utilizing a specialized architecture to ensure each bot is distinguishable. This is followed by a Reputation Registry, an immutable audit trail of performance that allows agents to carry their credibility across different decentralized platforms. Finally, a Validation Registry provides a verification layer supporting cryptographic proofs to ensure an agent’s code is executing exactly as promised without human interference.

The primary goal of ERC-8004 is to move toward a truly decentralized AI landscape, moving away from centralized gatekeepers that currently control machine interactions. By treating the blockchain as a neutral reference point, the standard allows agents to find, verify, and transact with one another trustlessly. To keep costs manageable for high-frequency machine tasks, the protocol pushes heavy computation and complex data interactions off-chain while anchoring the essential identity and trust markers on the Ethereum mainnet. This design allows for a scalable environment where AI can manage value and exchange data without the bottleneck of traditional verification methods.

The timing of this launch is strategically significant for the broader crypto landscape. In 2026, data suggests that non-human identities are handling a vast majority of automated financial services, yet much of this activity had previously migrated to faster, alternative networks. ERC-8004 represents Ethereum’s evolutionary response, aiming to recapture its status as the primary hub for high-value machine-to-machine commerce. If the rollout proceeds as expected by Thursday, January 29, the standard will likely expand Ethereum’s influence far beyond finance and deep into the core infrastructure of artificial intelligence.

Japan’s Financial Services Agency (FSA) has officially moved to solidify the nation’s digital asset framework by launching a public consultation on stringent new draft rules governing stablecoin reserve assets. This move marks a critical step in the practical implementation of the 2025 Payment Services Act overhaul, a legislative package enacted last June designed to formalize the country’s electronic payment landscape and provide a secure environment for digital innovation.

At the heart of the new proposal are strict limitations on how stablecoin issuers manage the “specified trust beneficiary interests” that back their tokens. Under the draft notices, issuers using trust structures will be restricted to a narrow pool of high-quality collateral to ensure stability and liquidity. To qualify as a reserve asset, foreign-issued bonds must meet two primary benchmarks: they must maintain a top-tier credit risk rating of 1–2 or higher from designated agencies, and the foreign issuer must have a total outstanding bond volume of at least 100 trillion yen, which is approximately $648 billion.

The FSA is also targeting the potential for consumer confusion regarding traditional financial institutions. New supervisory guidelines will now apply to banks and insurance companies whose subsidiaries offer cryptocurrency intermediation. Under the draft, these subsidiaries are required to provide explicit explanations to customers to ensure they do not underestimate the risks involved simply because a product is being offered by a recognizable or “safe” financial group. Furthermore, businesses seeking to handle foreign-issued stablecoins must now provide a formal check showing that the overseas issuer will not engage in direct issuance or solicitation toward general users within Japan.

This regulatory push arrives as Japan’s stablecoin market shifts from theoretical pilots to live infrastructure. Following the recent launch of the country’s first legally recognized yen-backed stablecoin by fintech firm JPYC, the nation’s three “megabanks”—MUFG, SMBC, and Mizuho—have continued to advance their own stablecoin and tokenized deposit projects. These interbank settlement pilots received formal backing from the FSA in December, signaling a coordinated effort to build a regulated ecosystem. The public consultation on these specific draft rules is set to remain open until February 27, 2026.

The United Kingdom’s Financial Conduct Authority (FCA) has officially entered the final stage of consultations for a sweeping new regulatory framework designed to bring digital assets under the same rigorous standards as traditional financial markets. This move represents the “final step” in the government’s ambitious roadmap to establish the UK as a global hub for regulated cryptoasset activity while prioritizing consumer protection and market integrity.

The latest consultation package introduces ten proposed rules aimed at fostering a more transparent and competitive market. Key areas of focus include new standards for business conduct, restrictions on the use of credit to purchase cryptoassets, and stricter requirements for asset safeguarding. The regulator also aims to clarify how retail collateral should be treated in crypto borrowing arrangements. While the FCA noted that these rules are designed to build public trust, it issued a firm reminder to investors that regulation cannot eliminate the inherent volatility and risk associated with the crypto market.

A critical milestone in this roadmap is the introduction of a formal licensing regime. The FCA has indicated that the application gateway for cryptoasset service providers is expected to open in September 2026. Under this new system, firms will be required to obtain full authorization under the Financial Services and Markets Act (FSMA) to operate legally within the UK. This regime will replace the current limited registration system, imposing tighter oversight on governance, operational resilience, and anti-money laundering controls. Stakeholders and industry participants have until March 12 to provide feedback on these final proposals before the rules are codified.

Beyond market conduct, the UK government is also moving to tighten the intersection of digital assets and political activity. Ministers are currently weighing a ban on cryptocurrency donations to political parties, citing concerns over anonymity and potential foreign interference in the electoral process. The proposal, which may be included in the upcoming Elections Bill, follows a high-profile move by Nigel Farage’s Reform UK party to become the first major political organization in the country to accept digital asset contributions.

Simultaneously, the government is advancing a significant overhaul of the tax treatment for decentralized finance (DeFi). Under a newly backed framework, the government plans to implement “No Gain, No Loss” (NGNL) rules for liquidity provision and lending. This change would ensure that users do not trigger a capital gains tax event simply by depositing tokens into a protocol or smart contract, provided they maintain economic ownership. While capital gains would only be realized upon an actual economic disposal, staking rewards and yields will continue to be treated as miscellaneous income. This tax reform is seen as a major step in removing administrative barriers for UK-based DeFi users.

 

South Korea’s third-largest cryptocurrency exchange, Coinone, is reportedly exploring a major ownership restructuring that could redefine its position in the domestic market. According to an initial report by the Seoul Economic Daily, the exchange is actively considering various options to sell a significant portion of shares held by its Chairman and largest shareholder, Cha Myung-hoon. Currently, Chairman Cha controls a dominant 53.4% stake in the company, which includes his personal 19.14% holding and an additional 34.3% stake held through his company, The One Group. The potential deal may also involve shares held by the firm’s second-largest shareholder, local gaming giant Com2uS, which originally acquired a 38.42% stake between 2021 and 2022.

A representative from Coinone has confirmed that the company is currently in high-level talks with major overseas exchanges and local financial institutions regarding potential equity investments. While the company has been careful to note that no specific decisions have been finalized, the discussions appear to be gaining momentum. Industry sources have specifically pointed toward U.S.-based Coinbase as a potential participant in the sale. Executives from the American exchange are reportedly scheduled to visit South Korea this week to meet with Coinone leadership and other local firms, signaling a heightened interest from global players in the South Korean digital asset ecosystem.

The move toward a sale comes as Coinone faces mounting financial pressure following a period of sustained losses. Internal reports indicate that the exchange’s book value sat at approximately 75.2 billion won ($52.2 million) at the end of the third quarter, representing a significant decline from its previous valuation of 94.4 billion won. Analysts believe that the recent return of Chairman Cha – a white-hat hacker turned businessman – to active management after a four-month hiatus was a strategic move specifically intended to oversee the stake sale or a larger M&A deal.

This development follows a broader trend of consolidation and ownership shakeups among South Korea’s top cryptocurrency exchanges. In a recent high-profile shift, Dunamu, the parent company of the nation’s largest exchange, Upbit, became a subsidiary of the internet giant Naver following a merger with Naver Financial in November. Simultaneously, Binance finally completed its acquisition of Gopax, the country’s fifth-largest exchange, after navigating nearly two years of regulatory delays. As Coinone continues its preliminary negotiations, the outcome could mark the next major chapter in the rapid transformation of the South Korean exchange landscape.