Crypto Regulation and Compliance Updates

Florida lawmakers have passed a bill to regulate stablecoins, establishing clear rules for issuance, oversight, and consumer protection. This bipartisan effort aims to provide regulatory certainty and attract blockchain innovation while ensuring financial stability and transparency.

White House crypto advisor Patrick Witt highlighted that the big banks’ unwillingness to reach a compromise with the crypto sector on the Clarity Act discussions will only keep stablecoins unregulated and amplify their concerns about deposit flight. The digital asset adviser of the White House, Pa

Vancouver Mayor Ken Sim proposed establishing a "Bitcoin Strategic Reserve," but city officials assessed that Bitcoin does not meet legal investment standards and recommended that the city council withdraw the proposal. According to the report, Bitcoin is not classified as a legal asset and requires reallocation of human resources to align with municipal priority plans. The Ministry of Municipal Affairs of British Columbia has already stated that local governments are not permitted to include cryptocurrencies in their financial reserves to avoid risks.

United States Congress is debating a CBDC ban after lawmakers challenged the Senate’s 2030 expiration clause. Ted Cruz proposed an amendment to remove the sunset clause and make the CBDC prohibition permanent. House lawmakers oppose the temporary ban, warning it could allow a future U.S.

Gate News Report, March 7 — According to Korean media, the Korea Financial Services Commission is drafting the "Corporate Virtual Currency Trading Guidelines," which may exclude stablecoins from the permitted investment scope. The guidelines will outline the standards for listed companies and registered professional investment firms to trade digital assets for investment or financial purposes. To prevent reckless investments in the early stages of the market, regulators have decided to exclude dollar-pegged stablecoins such as Tether (USDT( and USD Coin )USDC( from the allowable investment range.

The Indian Government has amended tax rules for digital assets, effective January 01, 2026, to enhance compliance and reporting. The changes clarify the treatment of crypto assets, financial institutions, and low-risk accounts, aiming for greater transparency in the digital finance landscape.

The Federal Reserve and other agencies have issued new guidelines for the banking industry, requiring tokenized securities to follow the same regulatory capital standards as traditional securities, emphasizing that technological form does not affect the method of capital calculation. This reflects regulatory authorities' focus on the legal nature and risk assessment of financial assets, demonstrating the gradual integration of banks and blockchain finance, which helps banks evaluate the risks and costs of tokenization businesses.

Recently, a knife robbery occurred in Sheung Wan, Hong Kong. Two victims were robbed after exchanging approximately 10 million HKD at a currency exchange shop. The police successfully apprehended the suspect, and the victims did not suffer any property loss. This is the third major cash robbery in the area within three months. The police have begun investigating the connection between the cases and the background of the criminal group.

Gate News Report, March 7 — According to community user feedback, Warden Protocol (WARD) appears to have rug pulled, with its token price plummeting 90% since being listed on a certain CEX Alpha section. It is reported that Warden Protocol was previously positioned as an intent-driven modular blockchain network, later shifting towards AI-related narratives. The project previously claimed that all three co-founders had backgrounds at a certain CEX.

People's Bank of China Governor Pan Gongsheng stated at the National People's Congress that over the past year, financial risks have been orderly resolved, and the financial system has operated stably. In the future, efforts will continue to combat illegal financial activities, prevent financial risks, and closely monitor the impact of external shocks.

The Florida State Senate passed Bill 314 on March 6th with a 37-0 vote, establishing a regulatory framework for payment-type stablecoins and prohibiting issuers from paying interest. The accompanying House bill will also be submitted for the governor's signature. Meanwhile, another bill was passed to protect the trade secrets of virtual currency businesses.

Gate News Report, March 7th, cryptocurrency trading and lending company BlockFills has sought restructuring advice from consulting firm BRG. After halting withdrawals, BlockFills appointed BRG's Mark Renzi as Chief Transformation Officer. BlockFills' new management team aims to complete the restructuring, inject new capital, and implement new governance and financial controls.

A U.S. judge dismissed a civil lawsuit accusing a certain exchange and its founders of colluding with a terrorist organization to carry out an attack. The plaintiff failed to prove that the defendants intentionally collaborated with terrorists. The judge criticized the complaint for being lengthy but allowed for amendments, and the exchange firmly denied the allegations.

Solana Policy Institute President Kristin Smith commented on the legislative progress of the "Clarity Act," stating that despite facing resistance, the complexity of the bill ensures its long-term viability. The involvement of the White House and traditional financial institutions in negotiations are new features. If the Senate can complete review by March or April, there is hope to push the legislation forward before July. Trump's support also increases the likelihood of the cryptocurrency legislation passing.

The U.S. Commodity Futures Trading Commission (CFTC) has unveiled a new logo, heralding the beginning of a "Golden Age of Innovation" in financial technology and digital asset innovation. The new logo retains traditional elements but features a more modern and high-tech style, symbolizing the CFTC's regulatory transformation to promote the development of blockchain and cryptocurrencies while maintaining market safety and investor protection. The CFTC Chairman emphasized that this move is to support innovation and prevent the outflow of talent and capital.

According to sources, the U.S. Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) are discussing plans to relocate the CFTC to the SEC's current location, but they will not merge the two agencies. The plan is expected to be implemented as early as 2027 and involves multiple organizations participating.

The Korea Consumer Agency has initiated a collective dispute resolution process regarding subsidies for a certain CEX API activity, as the exchange refused to distribute the promised subsidies to some users. 77 consumers applied for mediation in January, and the committee plans to release a mediation plan by March 23.

The White House released "President Trump's Cyber Strategy," emphasizing cyber offense, defense, and deterrence, and for the first time mentioning the protection of cryptocurrencies and blockchain. The strategy will target transnational cybercrime, expand cyber operation authorities, mobilize the private sector, and promote AI-driven defense systems.

Momentum builds in Washington for clearer U.S. crypto rules as SEC Chair Paul Atkins backs the Clarity Act, aligning with President Donald Trump’s push to secure regulatory certainty and keep digital asset innovation anchored in America. SEC Signals Strong Push for Clear Crypto Market Rules U.S.

Renowned crypto broker BlockFills has suspended customer withdrawals due to market downturn and is seeking BRG's assistance for corporate restructuring. The company is facing litigation over mismanagement of funds, which has led to a federal injunction, and needs to improve internal governance to attract new capital. BlockFills' predicament is similar to past crypto platform collapses, and whether the restructuring can succeed in the future will be a focal point.