BitcoinKE

Namibia is preparing to take a major step toward real-time payments.

The Bank of Namibia has set June 2026 as the target rollout date for its national instant payment system, a platform designed to enable real-time digital transfers and expand access to financial services across the country.

First launched in 2024, the initiative is part of the central bank’s broader push to modernise the country’s financial infrastructure under its 2025–2027 strategy and strengthened payment system regulations introduced in 2023.

Despite relatively high banking penetration, around 78% of Namibians have access to bank accounts, cash remains dominant, particularly in rural areas and among small businesses. This reliance has slowed transactions and increased costs and challenges the new system aims to address.

The upcoming platform will allow users to send and receive money instantly, 24/7, across banks and digital wallets using widely available devices like mobile phones.

FINTECH AFRICA | How National Payment Systems Like PayShap Are Driving the Cashless Economy in South Africa

At launch, the system is expected to prioritise government-to-person (G2P) payments, such as social grants, before expanding to person-to-person transfers, business payments, and broader interoperability across the financial ecosystem.

According to Bank of Namibia (which is the Central Bank of Namibia) Governor, Ebson Uanguta, several participants have already completed system integration and testing signalling readiness for deployment ahead of the June 2026 deadline.

The initiative is also tied to wider government reforms aimed at lowering transaction costs, improving financial inclusion, and supporting economic participation particularly for underserved communities.

If successfully implemented, the system could reduce Namibia’s reliance on cash, speed up payments across the economy, and create a more inclusive and efficient financial ecosystem.

INSIGHTS | Lessons for South Africa from Brazil and India on Building National Payment Systems

 

 

 

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Die Blockchain-Analysefirma Chainalysis führt eine neue Schicht künstlicher Intelligenz in ihr Untersuchungstool ein, die entwickelt wurde, um komplexes Krypto-Tracking so einfach zu machen wie eine Frage zu stellen.

Das Unternehmen hat KI-Agenten, die auf natürlicher Sprache basieren, zu seiner Blockchain-Untersuchungsplattform hinzugefügt, sodass Benutzer eine anspruchsvolle On-Chain-Analyse mit einfachen englischen Aufforderungen anstelle manueller Arbeitsabläufe durchführen können.

Traditionell erforderten Blockchain-Untersuchungen ausgebildete Analysten, um komplexe Datensätze zu navigieren, Transaktionen nachzuverfolgen und Muster über mehrere Chains hinweg zu interpretieren. Die neuen KI-Agenten von Chainalysis zielen darauf ab, diese Barriere zu senken, indem sie einer breiteren Nutzergruppe in Compliance-Teams, Strafverfolgungsbehörden und Finanzinstituten den Zugang zu Blockchain-Intelligenz ermöglichen, die auf etwa 10 Millionen Untersuchungen basiert, die bisher mit der Chainalysis Reactor-Software durchgeführt wurden.

OpenFX has raised $94 million in fresh funding as it looks to scale its stablecoin-powered infrastructure for cross-border payments, signaling growing investor confidence in blockchain-based financial rails.

The round was backed by major venture firms including

Accel,

Atomico,

Lightspeed Faction,

M13,

Northzone and

Pantera,

valuing the company at $500 million.

Founded in 2024 by Prabhakar Reddy, OpenFX is building a foreign-exchange network that uses stablecoins to bridge traditional banking systems, enabling faster and cheaper international money movement. The platform is designed to address long-standing inefficiencies in global payments, where transfers can take days and incur high fees.

STABLECOINS | The MasterCard $1.8 Billion BVNK Deal Signals the Importance of Underlying Stablecoin Infrastructure

By leveraging blockchain rails, OpenFX says more than 98% of its transactions settle in under an hour, compared to the two to five business days typical in legacy FX systems.

The company has seen rapid growth, processing over $45 billion in annualized payment volume, up sharply from $4 billion a year earlier, driven by demand from

fintechs,

remittance firms,

neobanks and

payroll platforms.

The company mentioned some of its clients which includes:

MoneyGram

Yellow Card

Alfred

PRESS RELEASE | Western Union Unveils ‘Beyond’ Strategy to Grow Revenue By 20%+ in 3 Years Partly Driven by its Stablecoin Strategy

“The global FX market processes more than $200 trillion annually, yet the core settlement infrastructure remains largely unchanged from decades ago,” said Prabhakar Reddy, Founder and CEO of OpenFX.

“Institutions should not have to wait multiple business days to move capital across borders.

We built OpenFX to deliver real-time, institutional-grade liquidity that reduces risk, lowers costs and allows capital to move as efficiently as the businesses behind it.”

 

The new capital will be used to expand into Southeast Asia and Latin America, regions where stablecoin adoption is accelerating and demand for faster cross-border settlement is rising.

 

Here are some comments from OpenFX investors:

“We are always searching for the most exceptional founders building with the largest tailwinds at their back.

It is undeniable that stablecoins are transforming global money movement, and it was undeniable from our first meeting that Prabhakar understood both the liquidity dynamics of FX markets and the infrastructure needed to bridge traditional banking with these new rails. OpenFX is already demonstrating what that future looks like: real-time cross-border settlement and capital efficiency for institutions.” – Latif Peracha, M13 General Partner.

 

“Cross-border payments remain one of the largest and most structurally inefficient markets in global finance, and stablecoins are emerging as a clear solution to address these frictions.

OpenFX is building critical infrastructure that brings together deep FX liquidity and always-on settlement, enabling a more seamless and capital-efficient system for moving money globally.

We believe Prabhakar and the team are uniquely positioned to define this next phase of financial infrastructure.” – Paul Veradittakit, Managing Partner of Pantera Capital

 

OpenFX’s raise comes amid a broader shift toward stablecoins as practical payment infrastructure, moving beyond trading into real-world use cases like remittances, treasury flows and global payroll.

EXPERT OPINION | Stablecoins Could Be ‘The ChatGPT Moment of Crypto,’ Says Ripple CEO

 

 

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Russia is moving to tighten control over its crypto market proposing a framework that restricts trading to state-approved intermediaries while placing limits on retail investors.

Under the plan, cryptocurrency transactions would only be allowed through licensed platforms such as exchanges, banks, or brokers that comply with regulatory requirements. Direct peer-to-peer trading without these intermediaries would be effectively banned signaling a shift toward a more controlled, institution-led market.

The framework introduces strict caps for everyday investors. Non-qualified users would be required to pass a knowledge test and would face an annual purchase limit of around 300,000 rubles (roughly $3,000–$4,000), while access would be limited to a list of highly liquid cryptocurrencies approved by the central bank.

CASE STUDY | How a Crypto Investor Lost $50 Million in a Single Transaction Due to Illiquidity in DeFi Markets

By contrast, ‘qualified‘ investors, typically wealthier or more experienced participants, would be allowed to trade without volume restrictions though they would still need to meet certain compliance requirements.

The proposal also establishes a licensing regime for crypto service providers bringing exchanges and custodians under tighter oversight and allowing traditional financial institutions to participate under strict rules. At the same time, Russians would still be able to buy crypto abroad using foreign accounts provided those transactions are reported to tax authorities.

Overall, the policy reflects Moscow’s attempt to legalize and domesticate crypto activity, maintaining access to digital assets while ensuring that trading flows through regulated, state-monitored channels rather than the open, global crypto market.

REGULATION | The Latest Binance Penalty is ‘A Clear Warning to Entities Setting Up Shop in Australia,’ Says Regulator

 

 

 

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Bitcoin treasury firm, Nakamoto Holdings (NAKA), has sold roughly 5% of its holdings, offloading 284 BTC for about $20 million in March 2026.

The sale was executed at an average price of around $70,400 per bitcoin, significantly below the company’s average acquisition cost of roughly $118,000, implying a sizable realized loss on the transaction.

MARKET ANALYSIS | Over 1/4 of Total Circulating #Bitcoin Supply is Sitting on Unrealized Loss

Data from @artemis shows that Bitcoin Treasury companies are 27% down over the last one month and 41% down over the last 3 months.https://t.co/CnW7fiFnd3 $BTC @BitcoinFear pic.twitter.com/JrQjYDVWkz

— BitKE (@BitcoinKE) December 6, 2025

The Nakamoto Bitcoin sale move appears to be driven by short-term liquidity needs rather than a shift in long-term strategy. Proceeds from the sale are expected to

support operational expenses,

fund ongoing business activities, and

cover costs tied to recent mergers and integration efforts.

Despite the sell-off, Nakamoto retains the majority of its bitcoin treasury signaling that the transaction is a tactical adjustment rather than a broader exit from its bitcoin-focused balance sheet strategy.

EXPERT OPINION | Bitcoin, Digital Asset Treasuries and the Road to 2026: Director of Institutional at Gemini on Where Crypto Is Headed

According to Patrick Lo, the only reason a treasury company makes sense is if it offers leverage, financial engineering or unique access – for… pic.twitter.com/iEbhmZV97z

— BitKE (@BitcoinKE) January 17, 2026

Nakamoto Holdings is run by David Bailey, a prominent Bitcoin entrepreneur, CEO of Nakamoto Holdings (NAKA), and former CEO of BTC Inc. (parent company of Bitcoin Magazine). Known as a Bitcoin advisor to Donald Trump’s 2024 presidential campaign, he focuses on

institutional Bitcoin adoption,

treasury strategies, and

building Bitcoin-focused media and technology businesses.

Nakamoto raised $710 million in May 2025, the largest capital raise to launch a bitcoin treasury to date, to pursue a Bitcoin treasury strategy pushing its shares to an all-time high. Ironically, since then, its NAKA shares have falled by 99% from their all-time as of this writing.

The Nakamoto strategy was to accumulate bitcoin and grow per-share BTC holdings through

equity

debt, and

structured offerings.

EXPERT OPINION | ‘The Market Does Not Have an Appetite for Dozens of Digital Asset Treasuries,’ Says Director of Institutional at Gemini

 

 

 

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___________________________________________

Dubai’s Virtual Assets Regulatory Authority (VARA) is rolling out a structured framework for crypto derivatives, introducing tightly controlled access for retail investors while reinforcing strict risk limits on leverage.

Under the framework, retail traders can now access regulated crypto derivatives products such as futures, options, and perpetual contracts through licensed platforms. The move marks a significant step in Dubai’s effort to build a mature digital asset market with institutional-grade oversight.

However, access comes with clear restrictions. VARA has imposed limits on leverage and tightened margin requirements, ensuring that risk exposure for retail participants remains controlled. In earlier rulebook updates, the regulator explicitly barred retail clients from high-risk leveraged trading and introduced strict collateral and liquidation standards.

Only firms with specific regulatory approval are allowed to offer derivatives and they must meet heightened compliance obligations including

capital requirements,

real-time risk monitoring, and

transparent client reporting.

The framework reflects a broader balancing act: enabling innovation and market access while prioritizing investor protection. Dubai has been positioning itself as a global crypto hub, but with a regulatory model that emphasizes oversight, segregation of client assets, and strict conduct rules for licensed operators.

The result is a cautious but deliberate expansion bringing retail traders into the derivatives market under guardrails designed to prevent the kind of excessive risk-taking seen in less regulated jurisdictions.

REGULATION | Dubai Regulator Warns Seychelles-Based Crypto Exchange, KuCoin, is Operating Without a License

 

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___________________________________________

KuCoin has been permanently barred from operating in the United States after a final order from the Commodity Futures Trading Commission (CFTC) marking the latest step in a multi-agency crackdown that began with a nearly $297 million criminal case brought by the Department of Justice.

The CFTC order imposes a $500,000 civil penalty and prohibits KuCoin’s operator, Peken Global, from offering trading services to U.S. users unless it properly registers. Crucially, the ruling removes the time limit on the exchange’s earlier U.S. exit, turning what had been a temporary withdrawal into an indefinite ban.

Under the terms of the agreement, the firm is barred from allowing U.S customers to use the platform unless it registers with the CFTC.

The decision follows KuCoin’s January 2025 guilty plea in a DOJ case, where the exchange admitted to operating an unlicensed money-transmitting business and agreed to pay roughly $297 million in fines and forfeitures.

U.S. authorities had accused the platform of failing to implement adequate anti-money laundering and know-your-customer controls, allowing illicit funds to flow through the exchange while continuing to serve American users without proper registration.

At its peak, KuCoin reportedly had around 1.5 million U.S. users and generated over $184 million in fees from the market, underscoring the scale of its exposure before enforcement actions forced its exit.

The combined criminal and civil actions illustrate a coordinated U.S. approach: the DOJ secured financial penalties and admissions of wrongdoing while the CFTC has now effectively shut the door on KuCoin’s access to U.S. markets indefinitely.

KuCoin is now permanently shut from the United States completing a sequential enforcement process that has moved from crimibal prosecution to a civil market ban.

The case adds to a growing list of enforcement actions targeting offshore crypto exchanges serving US customers without registration, as regulators continue tightening oversight of the sector.

REGULATION | Dubai Regulator Warns Seychelles-Based Crypto Exchange, KuCoin, is Operating Without a License

 

 

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___________________________________________

Die Mitsubishi Corporation wendet sich der Blockchain zu, um zu optimieren, wie Geld über ihre globalen Operationen fließt, und nutzt die Infrastruktur, die von JPMorgan Chase aufgebaut wurde.

Das Unternehmen plant, Kinexys zu nutzen, ein von Banken geführtes Blockchain-Netzwerk, das entwickelt wurde, um nahezu sofortige Unternehmenszahlungen im Rahmen eines umfassenderen Ansatzes zur Modernisierung des Schatzwesens und der grenzüberschreitenden Abrechnungssysteme zu ermöglichen.

Der Schritt spiegelt das wachsende institutionelle Vertrauen in blockchain-basierte Finanzinfrastrukturen wider. Kinexys verarbeitet bereits Milliarden an täglichen Transaktionsvolumen und hat seit seiner Einführung im Jahr 2020 kumulativ mehr als 3 Billionen Dollar bearbeitet, mit dem Ziel, auf 10 Milliarden Dollar an täglichen Flüssen zu skalieren.

Global payments infrastructure firm, Nium, has launched a stablecoin card issuance platform that enables businesses to spend digital dollars directly through traditional payment networks, marking a significant step in bridging crypto and everyday commerce.

The new platform allows companies holding stablecoins to issue payment cards on both Visa and Mastercard via a single API integration removing the need for multiple partnerships or custom infrastructure.

By connecting stablecoin balances to established card networks, the solution enables spending at hundreds of millions of merchant locations worldwide, effectively turning digital assets into real-world purchasing power.

Nium, Which Leverages the Ripple Blockchain, Enables Bank and Mobile Money Transfers to 4 African Countries

A key feature of the platform is seamless crypto-to-fiat conversion at the point of sale. When a user pays with a stablecoin-funded card, the system automatically converts the balance into local currency, allowing merchants to receive payments as they would with any standard card transaction.

Nium says the platform is designed to complement existing financial systems rather than replace them, combining blockchain-based settlement with the reliability, compliance, and global acceptance of traditional payment rails.

One of the most powerful use cases for #stablecoins is connecting them to everyday spending through cards.

Stablecoins today move quickly across blockchains, but for most businesses and consumers the real world still runs on traditional payment networks. People pay with cards,… pic.twitter.com/sAxOvMIChC

— BitKE (@BitcoinKE) March 31, 2026

According to Nium, stablecoin card issuing uncloks entirely new models for several types of companies:

Digital asset platforms and wallets that want to give their users real‑world spending capabilities. 

Fintechs operating globally that want faster and more efficient treasury management while still providing familiar payment instruments. 

Marketplaces and creator platforms that want to pay users globally while allowing them to spend funds instantly. 

Enterprises operating in multiple markets that want to reduce settlement friction and move value more efficiently across borders. 

 

“In short, stablecoin card issuing makes digital assets usable in everyday commerce.”

 

The launch comes as stablecoins gain traction as financial infrastructure, with growing regulatory clarity across major markets and an estimated $200 billion already in circulation.

By abstracting the complexity of compliance, banking relationships, and network integrations into a single layer, Nium aims to reduce deployment timelines from months to days, giving enterprises a faster route to integrating stablecoin-based payments into their operations.

PARTNERSHIP | Ecobank Partners with Ripple-Powered Payments Platform, Nium, to Unlock Real-Time Payments Across 35 African Markets

 

 

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_________________________________________

Ozow schärft seinen Fokus auf Governance, Risikomanagement und regulatorische Ausrichtung, was einen umfassenderen strategischen Wandel signalisiert, während Fintechs sich in einem zunehmend komplexen Zahlungsumfeld bewegen.

Das Unternehmen hat eine Funktion für den Chief Risk and Governance Officer (CRGO) formalisiert – ein Hinweis darauf, dass Risiko und Compliance nicht länger Back-Office-Anliegen sind, sondern zentrale Säulen des nachhaltigen Wachstums im modernen Fintech.

Dieser Schritt erfolgt, da die Branche mit

verstärkten regulatorischen Prüfungen,

steigenden Betrugsrisiken und

Hamilton Labs, ein ägyptisches Infrastrukturunternehmen, hat einen nicht offengelegten Betrag an Finanzierung von AXIAN Investment gesichert, um seine Stablecoin-Infrastruktur auf dem afrikanischen Kontinent auszubauen.

Als Mo Kasstawi das ägyptische Finanzinfrastrukturunternehmen mitbegründete, hatte er nicht vor, nur ein weiteres Krypto-Startup zu gründen. Er reagierte auf eine Realität, die auf dem Kontinent vertraut ist: Der Zugang zu stabilen Dollar wird immer noch als Privileg und nicht als grundlegendes finanzielles Bedürfnis behandelt.

Jetzt hat Hamilton Labs frische Unterstützung von AXIAN Investment, dem Venture-Arm der panafrikanischen AXIAN Group, gesichert, um seine Stablecoin-Infrastruktur in ganz Afrika auszubauen. Der Betrag bleibt nicht offengelegt, aber die Botschaft ist klar. Eine der größten Investmentgruppen des Kontinents setzt darauf, dass dollarunterstützte digitale Vermögenswerte zu einem Kernpfeiler der finanziellen Zukunft Afrikas werden könnten.

Argentina has moved to block Polymarket, the leading prediction markets, nationwide arguing that the platform operates less like a financial tool and more like an unlicensed online betting service.

The decision came from a Buenos Aires court which ordered regulators to restrict access to the platform across the country. Authorities also instructed internet providers to block the site and asked major app stores to remove its mobile applications.

Gambling, Not ‘Prediction’

At the center of the crackdown is a simple legal argument: users are staking money on uncertain future events.

Regulators applied what they call an “economic reality” test focusing on how people actually use the platform rather than how it is branded.

Their conclusion: betting on outcomes like inflation data, elections, or global events closely resembles traditional gambling.

This classification places Polymarket outside Argentina’s legal framework where gambling platforms must be licensed and tightly regulated.

REGULATION | Gambling Rules Apply to Prediction Markets, Warns Major League Baseball of America

Authorities also pointed to major gaps in user protection. These included:

Limited identity and age verification

Potential access by minors

Use of crypto and credit card payments without strict oversight

Officials argued that these shortcomings exposed users to financial and legal risks, strengthening the case for enforcement.

Polymarket’s markets tied to Argentina’s inflation data intensified scrutiny.

Regulators flagged suspicious activity including sudden shifts in predictions shortly before official economic figures were released. This raised fears of

insider information,

market manipulation, and

the monetization of sensitive national data.

REGULATION | Insider Trading Risks Escalate on Prediction Markets as Enforcement Intensifies

Authorities in #Israel have arrested and charged two people, a military reservist and a civilian, for allegedly using classified information to place bets on the prediction market,…

— BitKE (@BitcoinKE) February 16, 2026

The ban highlights a deeper global tension: are prediction markets financial tools, or just a new form of betting?

While some jurisdictions are exploring ways to regulate them as financial instruments, Argentina has taken a stricter approach grouping them with gambling and shutting them out entirely.

REGULATION | Gambling Rules Apply to Prediction Markets, Warns Major League Baseball of America

Under an ‘integrity protection’ memorandum of understanding, #MLB and the #CFTC will share information and coordinate #oversight to prevent market #manipulation and protect game… pic.twitter.com/MYOLpkrBcn

— BitKE (@BitcoinKE) March 20, 2026

The move also reflects growing pressure from local gaming authorities who argue that platforms like Polymarket operate outside established rules while competing with licensed operators.

Argentina’s action signals that rapid growth and global reach won’t shield crypto platforms from local laws.

For prediction markets, the message is clear:

Compliance with gambling and financial regulations is unavoidable

User protection standards will be a key battleground

National regulators are willing to block access entirely if rules aren’t met

As more countries examine the space, Polymarket’s clash with Argentina may be a preview of wider regulatory pushback ahead.

INSIGHTS | Prediction Markets Have an Insider Trading Problem That Needs Fixing

 

 

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_________________________________________

Brazil has passed a sweeping anti-gang law that allows authorities to seize and liquidate cryptocurrencies linked to criminal activity with the proceeds redirected to fund police operations.

Signed into law by President Luiz Inácio Lula da Silva, the Legal Framework for Combating Organized Crime legislation, also know as the Raul Jungmann Law, expands judicial powers to freeze, confiscate, and even sell digital assets during investigations – not just after a conviction.

Courts can now authorize the early liquidation of seized crypto to avoid losses from market volatility and quickly channel funds into public security efforts.

Under the new framework, confiscated assets – including cryptocurrencies, stocks, and luxury goods – can be permanently forfeited and converted into cash to support police equipment, training, intelligence work, and special operations.

In some cases, authorities can provisionally use seized assets before a trial concludes, subject to judicial approval.

CRYPTO CRIME | International Law Enforcement Bodies Take Down CyberCrime Infrastructure, Confiscates Associated Crypto – BitKE https://t.co/6LDH4LLqC9

— Dr.Philippe Vynckier, CISSP – Influencer (@PVynckier) March 15, 2026

The law specifically targets organized crime groups such as militias and drug trafficking networks, while also giving authorities the ability to block access to crypto wallets, exchanges, and financial platforms during investigations.

The law introduces 2 criminial categories:

Structured social domination

Aiding structured social domination

which:

carry sentences of 12-40 years,

mandatory imprisonment in maximum-security federal facilities for ultraviolent criminal organizations, and

the use of encrypted messaging apps or privacy tools to conceal criminal activity is designated as an aggravating factor that increases sentences.

The new legislation also introduces financial incentives for cooperation: individuals who help authorities trace illicit assets can receive up to 5% of the recovered value once those assets are liquidated.

On top of that, the legislation mandates:

Creation of a national criminal database mapping financial structures of known criminal elements to improve police, prosecution, and judiciary coordination across Brazil.

International cooperation for asset recovery and intelligence to trace, trace, and recover illicit funds, and

Permanent barring of access of individuals from the formal financial and crypto systems including government contracting, participation in pubic tenders, and receiving fiscal incentives for 12-15 years.

More broadly, the move reflects a shift in how Brazil treats crypto, not just as an asset to regulate, but as one that can be actively repurposed to strengthen law enforcement and disrupt criminal financing networks.

CASE STUDY | How Spain’s Largest Crypto Exchange Pivot from Retail to Infrastructure for Banks and Law Enforcement is Proving Successful

 

 

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A European Central Bank (ECB) working paper has challenged one of DeFi’s core narratives concluding that decentralized autonomous organizations (DAOs) are far less decentralized than they claim.

The study examined governance structures across major DeFi protocols and found that token ownership and voting power are heavily concentrated among a small group of actors. In some cases, the top 100 holders controlled more than 80% of governance tokens, undermining the idea of broadly distributed control.

Less than 1% of Members on Most DAOs Have 90% Voting Power, Says Latest Chainalysis Report

DeFi-related DAOs have a giant lead accounting for 83% of all DAO treasury value and 33% of all of the DAOs by count.https://t.co/oSc9uUiCqG pic.twitter.com/5m6wUmMTZl

— BitKE (@BitcoinKE) October 2, 2022

Voting dynamics appear even more centralized.

The report notes that governance decisions are often dominated by a handful of delegates with top voters controlling large portions of decision-making power. In certain protocols, a small group accounts for the vast majority of votes while many participants remain inactive or unidentified.

These findings raise questions about whether DAOs can truly operate without central authority. While DeFi promotes community-led governance, the reality, according to the ECB, is closer to power consolidation among insiders, large token holders, and intermediaries like exchanges.

The implications extend beyond theory. If DAOs are not ‘fully decentralized,’ they may fall within the scope of regulations such as the EU’s Markets in Crypto-Assets (MiCA) framework, which excludes only genuinely decentralized systems.

 

The report says:

As already highlighted, it seems that DAOs often only claim to be decentralised.

 

The paper goes on to highlight the Danish Financial Supervisory Authority on the suggested principles to better understand when a DAO could be considered decentralized.

 

 

These principles are:

No identifiable controlling legal entity – A service is only “fully decentralised” if no legal person or entity controls the activity. If a company can be identified as having control, the activity is not decentralised and falls under regulation.

Control over the service is the decisive factor – The assessment focuses on who actually controls the regulated activity, not just who provides access. Simply offering an interface or gateway does not automatically mean control of the underlying service.

Decentralisation must exist across the full value chain – To qualify as decentralised, no single party should control key components, including smart contracts, protocol governance, execution of transactions, and access points (interfaces, APIs). If control exists at any critical layer, the system may be considered partially decentralised (CeDeFi) instead of fully DeFi.

Use of smart contracts is not enough – Just using blockchain or smart contracts does not make a system decentralised. If a legal entity deploys, controls, or can modify the smart contracts, then the activity is not fully decentralised.

Ongoing ability to influence or intervene matters – If any party can upgrade contracts, pause the system,and change parameters, then that indicates centralised control. True decentralisation requires no unilateral intervention power.

Governance must be genuinely distributed – Decision-making should not be concentrated in a founding team, a foundation, or a small group of token holders. Governance mechanisms must reflect real dispersion of power, not just formal structures.

Access should not depend on a central intermediary – Users should be able to interact with the system directly on-chain. If access depends on a company-run frontend, or controlled infrastructure, this weakens decentralisation.

Distinction between CeFi, CeDeFi, and DeFi – The document emphasizes a spectrum:

> CeFi → fully controlled by a legal entity

> CeDeFi → partially decentralised but still controlled

> DeFi → no controlling entity at all

Only the last category qualifies as outside MiCA scope

 

Ultimately, the paper suggests that DeFi governance may resemble traditional finance more than its branding implies raising fresh concerns about transparency, accountability, and how regulators should approach the sector.

Less than 1% of Members on Most DAOs Have 90% Voting Power, Says Latest Chainalysis Report

 

 

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_________________________________________

Kanada hat sich dazu entschlossen, Krypto-Spenden in Wahlkämpfen zu verbieten, indem es neue Gesetze einführt, die ähnlichen Schritten entsprechen, die kürzlich im Vereinigten Königreich unternommen wurden.

Wenn genehmigt, würde das Verbot allgemein auf das politische System angewendet werden.

Das vorgeschlagene Gesetz, bekannt als das ‚Gesetz über starke und freie Wahlen‘ (Gesetzentwurf C-25), würde politischen Parteien, Kandidaten und Drittanbietern verbieten, Krypto-Spenden anzunehmen, da Bedenken bestehen, dass solche Vermögenswerte schwer nachverfolgt werden können und dazu verwendet werden könnten, die Herkunft der Mittel zu verschleiern.

Kalshi, eine führende Plattform für Vorhersagemärkte, hat die regulatorische Genehmigung erhalten, Margin-Handel anzubieten, ein Schritt, der dem Unternehmen helfen könnte, Hedgefonds und andere professionelle Investoren anzuziehen, während Vorhersagemärkte weiter in die Finanzmainstream vordringen.

Die Genehmigung folgt der Registrierung ihres Tochterunternehmens, Kinetic Markets LLC, als Futures-Kommissionshändler bei der National Futures Association, was es den Nutzern ermöglicht, Positionen zu eröffnen, ohne den vollen Wert eines Vertrags zu hinterlegen.

Der Margin-Handel wird voraussichtlich die Kapitaleffizienz verbessern und die Plattform für institutionelle Händler attraktiver machen, ein Segment, das aufgrund des Mangels an Hebeltools weitgehend an der Seitenlinie geblieben ist.

Bitcoin-Miner wenden sich zunehmend der künstlichen Intelligenz (KI) und dem Hochleistungsrechnen zu und verkaufen ihre Bitcoin-Bestände, um den Übergang zu finanzieren, während sich die Bergbauökonomie verschlechtert.

Laut einem aktuellen Bericht könnten börsennotierte Bergbauunternehmen bis 2026 bis zu 70% ihres Umsatzes mit KI erzielen, gegenüber etwa 30% heute.

Der Wandel wird durch fallende Gewinnspannen im Bergbau vorangetrieben. Steigende Produktionskosten, die auf etwa 80.000 $ pro Bitcoin geschätzt werden, übersteigen nun die Marktpreise und zwingen die Miner, nach stabileren und margenstärkeren Einnahmequellen zu suchen.

Morgan Stanley bereitet sich darauf vor, einen Spot-Bitcoin-Exchange-Traded Fund zu starten, der nur 0,14 % kostet, und damit bestehende kostengünstige Wettbewerber unterbietet und möglicherweise einen neuen Gebührenkrieg im Sektor auslöst, gemäß einer aktuellen regulatorischen Einreichung.

Die vorgeschlagene Gebühr, die 14 Basispunkten entspricht, wäre niedriger als die aktuellen Marktführer wie

Grayscale’s Bitcoin Mini Trust bei 0,15 % und

BlackRocks iShares Bitcoin Trust bei 0,25 %,

was es zum günstigsten Spot-Bitcoin-ETF macht, falls genehmigt.

Die Einreichung, die bei der U.S. Securities and Exchange Commission eingereicht wurde, signalisiert Morgan Stanleys Übergang von der Verteilung von Krypto-Produkten zur Emission eigener Produkte, wobei sein umfangreiches Vermögensverwaltungsnetzwerk genutzt wird, um Marktanteile zu gewinnen.

Ripple-CEO Brad Garlinghouse sagte, dass Stablecoins einen Durchbruch für die Kryptowährungsindustrie darstellen könnten und verglich deren potenziellen Einfluss auf die Geschäftsübernahme mit dem von ChatGPT in der künstlichen Intelligenz.

 

In einem Gespräch mit FOX Business sagte Garlinghouse, dass Führungskräfte großer Unternehmen zunehmend ihre Finanzteams fragen, wie sie Stablecoins in den Betrieb integrieren können, was auf ein steigendes institutionelles Interesse hinweist.

„Sie haben Vorstände und CEOs von Unternehmen, egal ob Fortune 500 oder Fortune 2000, sie fragen ihre Schatzmeister, sie fragen ihre CFOs: ‚Was machen wir mit Stablecoins?‘

The Federal Court of  Australia has fined Binance’s local derivatives arm 10 million Australian dollars ($6.9 million) after the company admitted to widespread client onboarding failures that exposed retail investors to high-risk crypto products without proper protections.

The Federal Court found that Australian Securities and Investments Commission (ASIC) identified that more than 85% of Binance Australia’s client base had been misclassified.

Out of the 524 users,

460 retail investors incorrectly classified as meeting the Sophisticated Investor Test

33 were incorrently classfied as meeting the Individual Wealth Test

26 did not provide sufficient evidence that they met and were incorrectly classified as meeting with the Large Business Test

between July 2022 and April 2023.

EXPERT OPINION | Crypto Regulation Focus Should Be on the Economic Function, Not the Delivery Technology – Australian Regulator

As a result, those clients were able to access complex cryptocurrency derivatives without the consumer safeguards required under Australian law, later incurring millions in trading losses and fees.

Binance admitted to multiple compliance failures in a statement of agreed facts, including

inadequate onboarding procedures,

poor staff training, and

weak internal oversight.

The company also allowed users to repeatedly attempt a multiple-choice test until they qualified as “sophisticated investors,” and in some cases relied on self-certification without proper verification.

Regulators said the exchange failed to meet key obligations such as

providing product disclosure statements,

complying with Australia Financial Services license conditions,

Inadequtely training employees,

making target market determinations, and

maintaining a compliant dispute resolution system.

The penalty comes in addition to roughly 13.1 million Australian dollars ($9 million) already paid in compensation to affected users in 2023.

The Binance Australia Derivatives license was later cancelled by the securities regulator in early 2023 after a targeted review of Binance’s operations in the country.

ASIC described the case as a warning to global financial services firms operating in Australia emphasizing that proper client classification and onboarding processes are critical when offering high-risk financial products.

CRYPTO CRIME | Report Alleges Binance Allowed ‘Suspicious’ Accounts to Move Billions in Niger and Other Countries Despite U.S. Plea Deal

 

 

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