Law and Order

UK Regulators Draft New AML Rules for Crypto Firms

In brief The draft legislation attempts to  close loopholes and updates rules for evolving risks. The new change-in-control threshold for crypto firms would be lowered to 10%. A consultation will be open until September 30, with regulations to be put before Parliament in early 2026. The UK’s HM Treasury released a draft of proposed changes…

Law and Order

Bureaucratic Stalemate Keeps India on Sidelines as Stablecoin Race Heats Up in Asia

In brief Polygon’s Aishwary Gupta says no Indian government department wants ownership of stablecoin regulation, creating bureaucratic deadlock across agencies. Gupta estimates India could save $68 billion annually through stablecoin integration, but regulatory uncertainty prevents banks from acting. 80-85% of India’s top crypto talent has relocated internationally, Gupta said, while Asian neighbors advance clear stablecoin…

Law and Order

South Korea Busts Hacking Syndicate After Multi-Million Dollar Crypto Losses

In brief A hacking syndicate allegedly stole $28.1 million (â‚©39 billion) from financial and crypto accounts of 258 wealthy Koreans, including celebrities and top business executives. The largest single crypto theft reached $15.4 million (â‚©21.3 billion), though authorities haven’t specified what portion of the total losses was in crypto. The case exposes systematic vulnerabilities in…