Everything web3, crypto, defi, degen
In brief Chinese tech giant Ant Group has said claims it’s working on a rare earth RMB stablecoin are false. It comes amid exploration of stablecoin uses by Chinese e-commerce firms. Hong Kong’s stablecoin regulatory regime has been a key driver for increased interest. Chinese tech giant Ant Group has denied online rumors that it…
In brief Anchorpoint, a new joint venture between Standard Chartered and Animoca Brands, will apply for a license under Hong Kong’s new stablecoin framework. Hong Kong launched its fiat-referenced stablecoin licensing regime at the start of August. Animoca Brands’ Yat Siu told Decrypt that regulation could unlock stablecoin adoption and innovation. Standard Chartered and Animoca…
In brief Ripple CTO David Schwartz thinks experimentation is good for blockchains. The XRPL EVM Sidechain debuted in June. The network features smart contracts and uses XRP as its native token. XRP Ledger’s Ethereum sidechain could lead to more experimentation within the network’s ecosystem, while potentially attracting fresh talent, according to Ripple CTO David Schwartz.A…
About the AuthorPorter Stowell is CEO of W3.io, the company building Web3’s first programmable intelligence layer. He’s held senior roles at IBM Blockchain, Coinbase, and Filecoin, where he honed his expertise across Web3 infrastructure and ecosystems. The views expressed here are his own and do not necessarily represent those of Decrypt.With the GENIUS Act now…
In brief Hong Kong’s stablecoin licensing regime takes effect today, requiring fiat-referenced issuers to obtain HKMA approval. It comes shortly after the U.S. passed the GENIUS Act, sparking comparisons between the two approaches. Analysts say adoption may be slow in local retail, but firms eye international and B2B applications. Hong Kong officially introduced its long-awaited…
In brief Bengaluru police say hackers used a fake freelance job to trick a CoinDCX employee into installing malware on his office laptop, which was later exploited to steal $44 million (₹379 crore) from the exchange’s liquidity wallet. The employee, now in custody, claimed he was unaware of the breach; police say tracing the funds…
In brief The White House proposed Congress consider drafting legislation that would force U.S. residents and companies to report foreign crypto accounts on their taxes. Not doing so could disadvantage U.S.-based crypto companies, the Trump administration said in a highly anticipated crypto report published Wednesday. The 168-page report also included recommendations related to crypto banking,…
In brief Indonesia’s new tax policy imposes a 1% levy on offshore crypto transactions, while domestic trades face an increased 0.21% rate. The overhaul eliminates VAT for crypto buyers and raises mining VAT to 2.2%, with standard income tax rules coming in 2026. Decrypt was told the tax hike could deter high-volume or frequent retail…
In brief Visa reported $10.17 billion in revenue for fiscal Q2, up 14% year-over-year, while stablecoin settlements totaled just $200 million. CEO Ryan McInerney said global stablecoin adoption remains limited and will depend on clearer regulatory frameworks. Visa is investing in stablecoin infrastructure through BVNK, partnering with Bridge in Latin America, and piloting programmable finance…
In brief South Korea’s ruling and opposition parties introduced competing stablecoin bills, diverging on whether to ban interest payments. Both proposals grant emergency powers to financial regulators and require full reserve backing for won-pegged tokens. The legislative split comes as President Lee Jae-myung advances a crypto-friendly agenda amid global moves to regulate stablecoins. South Korea’s…
