BitcoinKE

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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Il Canada ha deciso di vietare le donazioni in criptovalute nelle campagne elettorali introducendo una nuova legislazione che rispecchia misure simili recentemente adottate nel Regno Unito.

Se approvato, il divieto si applicherebbe ampiamente all'intero sistema politico.

La legge proposta, nota come ‘Legge sulle Elezioni Forti e Libere’ (Bill C-25), vieterebbe ai partiti politici, ai candidati e agli inserzionisti di terze parti di accettare donazioni in criptovalute citando preoccupazioni che tali beni siano difficili da tracciare e potrebbero essere utilizzati per oscurare la fonte dei fondi.

Kalshi, a leading prediction markets platform, has secured regulatory approval to offer margin trading, a move that could help the firm attract hedge funds and other professional investors as prediction markets push further into mainstream finance.

The approval follows the registration of its affiliate, Kinetic Markets LLC, as a futures commission merchant with the National Futures Association, allowing users to open positions without posting the full value of a contract.

Margin trading is expected to improve capital efficiency and make the platform more appealing to institutional traders, a segment that has largely stayed on the sidelines due to the lack of leverage tools.

INSTITUTIONAL | World’s Largest Asset Manager Launches its First Crypto Staking ETF

Kalshi, which operates a federally regulated marketplace for event-based derivatives, has been seeking to expand its product suite and deepen liquidity as competition grows and Wall Street interest in prediction markets rises.

The focus on institutional investors is deliberately strategic. Institutional participants such as hedge funds and trading firms typically require:

robust legal frameworks

clear custody solutions

advanced trading mechanisms like margin

Kalshi aims to attract this institutional liquidty and more sophisticated trading strategies, such as margin trading, with increased institutional participation, by offering these services.

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 broader impact of institutional focus could be substantial as it could bridge the gap betwen speculative event trading and traditional finance derivatives thus encouraging other platforms to seek similar regulatory clarity. Historical futures markets data shows a correlation between the introduction of regulated margin trading and increased trading volumes.

Prediction markets have historically operated in a regulatory grey area.

Kalshi had already set a regulatory precedent by being a designated contract market for event contracts. However, this latest regulatory approval of this model is a novel development as other crypto-native entities have pursued similar paths but for different asset classes like Bitcoin and Ether futures.

The margin product is expected to launch first for institutional users though a timeline has not been publicly disclosed.

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

 

 

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I minatori di bitcoin stanno sempre più passando all'intelligenza artificiale (IA) e al calcolo ad alte prestazioni, vendendo le loro partecipazioni in bitcoin per finanziare la transizione, mentre l'economia mineraria deteriora.

Secondo un recente rapporto, le aziende minerarie quotate potrebbero generare fino al 70% delle loro entrate dall'IA entro il 2026, rispetto a circa il 30% di oggi.

Il cambiamento è guidato dalla diminuzione della redditività mineraria. I costi di produzione, stimati intorno a $80,000 per bitcoin, superano ora i prezzi di mercato costringendo i minatori a cercare flussi di entrate più stabili e con margini più elevati.

Morgan Stanley si sta preparando a lanciare un fondo scambiato in Bitcoin spot a un prezzo di solo 0,14%, sottocosto rispetto ai rivali a basso costo esistenti e potenzialmente innescando una nuova guerra delle commissioni nel settore, secondo un recente deposito normativo.

La commissione proposta, equivalente a 14 punti base, sarebbe inferiore a quella dei leader di mercato attuali come

Il Grayscale Bitcoin Mini Trust al 0,15% e

Il BlackRock iShares Bitcoin Trust al 0,25%,

rendendolo l'ETF Bitcoin spot più economico se approvato.

Il deposito, presentato alla Securities and Exchange Commission degli Stati Uniti, segnala il passaggio di Morgan Stanley dalla distribuzione di prodotti crittografici all'emissione dei propri, sfruttando la sua vasta rete di gestione patrimoniale per catturare quote di mercato.

Il CEO di Ripple, Brad Garlinghouse, ha detto che le stablecoin potrebbero rappresentare un momento di svolta per l'industria delle criptovalute, confrontando il loro potenziale impatto sull'adozione aziendale con quello di ChatGPT nell'intelligenza artificiale.

 

Parlando con FOX Business, Garlinghouse ha detto che i dirigenti delle grandi aziende stanno sempre più chiedendo ai team finanziari come integrare le stablecoin nelle operazioni, segnalando un crescente interesse istituzionale.

“Hai consigli di amministrazione e CEO di aziende, sia che si tratti di Fortune 500 o Fortune 2000, stanno chiedendo ai loro tesorieri, stanno chiedendo ai loro CFO, ‘cosa stiamo facendo con le stablecoin.’

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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_______________________________

Tether ha coinvolto KPMG per condurre il suo primo audit finanziario indipendente completo, segnando un passo importante verso una maggiore trasparenza per l'emittente di stablecoin più grande del mondo, secondo numerosi rapporti.

L'atteso audit coprirà il bilancio della società, inclusi

le riserve a supporto del suo token USDT

controlli interni,

governance e

sistemi di conformità,

andando oltre le attestazioni periodiche su cui Tether ha fatto affidamento per anni.

PwC è stata anche coinvolta per aiutare a preparare i sistemi interni e i processi di reporting di Tether in vista della revisione, hanno riferito fonti.

Mentre il Sudafrica cerca di approfondire l'inclusione finanziaria, non ha bisogno di partire da zero. In tutto il Sud Globale, paesi come il Brasile (con PIX) e l'India (con UPI) hanno già costruito modelli potenti per espandere l'accesso ai servizi finanziari, offrendo lezioni pratiche su come politica, infrastruttura e innovazione possano lavorare insieme per raggiungere popolazioni sottoservite.

Il Sudafrica (con PayShap), nonostante abbia uno dei sistemi finanziari più avanzati del continente, affronta ancora un paradosso: alta penetrazione bancaria sulla carta, ma esclusione persistente nella pratica. Milioni rimangono sottoserviti a causa di un accesso diseguale al credito, alla connettività e agli strumenti finanziari accessibili.

Kenya is moving to tighten oversight of its fast-growing crypto sector with new draft rules proposing steep entry requirements for stablecoin issuers and other virtual asset firms.

Under proposals released by the National Treasury, companies looking to issue stablecoins would be required to:

Hold a minimum paid-up capital of KES 500 million (about $3.85 million), one of the highest thresholds in the framework.

Hold capital equivalent to 100% of current liabilities for 30 days minimum.

Not issue or grant interest related to stablecoins.

For tokenized asset offerings, issuers will need:

Capital requirements of ~$1.5 million in paid-up capital

Liquid capital of ~$310,000

The draft regulations aim to formalise the country’s digital asset market, strengthen consumer protection, and address concerns raised by the Financial Action Task Force (FATF), which has pushed for stricter oversight of crypto activity in high-usage markets like Kenya.

Beyond capital requirements, stablecoin issuers would need to fully back their tokens with high-quality liquid assets such as cash or bank deposits. These reserves must be segregated from company funds, held with approved custodians, and readily available for redemption at all times.

The rules also introduce disclosure obligations similar to capital markets prospectuses. Issuers would be required to publish detailed white papers outlining their operations, governance, risk factors, and how user funds are managed, with company directors held accountable for the accuracy of this information.

Regulatory oversight will depend on how the assets are used: stablecoins functioning as payment instruments would fall under the Central Bank of Kenya, while tokenised real-world assets classified as investments would be supervised by the Capital Markets Authority.

REGULATION | USDC Stablecoin Issuer, Circle, Already in Talks with Kenyan Government to Launch its Payments Network

While the framework could boost trust and institutional participation, it may also raise barriers to entry. Smaller startups could struggle to meet capital, compliance, and liquidity requirements, potentially leaving the market dominated by banks and well-capitalised global players.

Industry stakeholders have until April 2026 to submit feedback, with some already advocating for a tiered approach that would ease requirements for smaller projects while maintaining stricter standards for large-scale issuers.

REGULATION | ~50 Virtual Asset Firms Looking to Set up Regional HQs in Kenya, Says Nairobi International Finance Center (NIFC)

 

 

 

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The United Kingdom (UK) has imposed sweeping sanctions on Xinbi, a major crypto-linked black market, as part of a broader crackdown on global scam networks tied to Southeast Asia.

Announced by the Foreign, Commonwealth & Development Office, the measures target Xinbi – described as a Chinese-language online marketplace facilitating fraud – as well as individuals and entities connected to large-scale scam operations. Authorities say the platform has enabled the sale of stolen personal data, money laundering services, and communications tools used by criminal networks.

Blockchain analytics estimates suggest Xinbi processed nearly $20 billion in transactions between 2021 and 2025, much of it linked to illicit activity.

Under the sanctions, any UK-based assets tied to Xinbi will be frozen and the platform is cut off from the country’s financial system. UK businesses, including banks and crypto firms, are prohibited from providing services, funding, or infrastructure to the network.

 

The government press release reads:

The UK’s sanctions will isolate the platform from the legitimate crypto ecosystem, significantly disrupting its operations by affecting its ability to send and receive cryptocurrency transactions. 

BYEX, another cryptocurrency platform that had been used to launder the proceeds of scams, shut down following the UK’s sanctions last year. 

The crackdown also extends to operators of scam compounds in Cambodia, including those linked to “#8 Park,” a large facility allegedly used to run industrial-scale fraud schemes. These operations have been associated with human trafficking with victims forced to conduct online scams such as fake investment pitches and romance fraud.

Following the UK actions, Cambodia’s government has launched its largest ever crackdown on the scam economy, with local authorities estimating that 2,500 sites have been raided, leading to the closure of hundreds of scam centres and the release of tens of thousands of foreign nationals.

Officials say the goal is to isolate key infrastructure supporting global crypto-enabled scams disrupting both the financial flows and tools that sustain them. Xinbi’s role as a hub for illicit services – including data trading and crypto laundering – has made it a central target in efforts to dismantle what authorities describe as a rapidly growing transnational fraud economy.

The move marks one of the UK’s most significant actions against crypto-enabled crime to date and builds on earlier coordinated efforts with international partners to shut down scam networks and seize illicit assets.

REGULATION | U.S. Court Dismisses Lawsuit Seeking Regulatory Protections for Non-Custodial Software Solutions

 

 

 

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Adattato da un post originale scritto dal fondatore di WellsForAll



La filantropia basata su blockchain si è espansa rapidamente nell'ultimo decennio, promettendo di portare trasparenza, efficienza e responsabilità nella distribuzione degli aiuti.

Le donazioni in criptovaluta nel 2024 hanno superato 1 miliardo di dollari, secondo statistiche recenti che dimostrano slancio, specialmente per progetti filantropici in Africa.

Ma in Africa, molte di queste iniziative hanno faticato a offrire un impatto significativo e a lungo termine.



Secondo Samuel Owusu-Boadi, fondatore di WellsForAll:

TRM Labs, a leading blockchain intelligence platform, has announced a partnership with Zepz – the group behind leading digital remittance brands, WorldRemit and SendWave – to support the global expansion of its stablecoin-based Sendwave Wallet for migrant communities and their families.

The integration of TRM’s blockchain intelligence will help Zepz manage financial crime risk and scale its stablecoin offering as it expands into new markets.

Advancing financial access through stablecoins.

Zepz serves millions of people sending funds to recipients across 130+ countries with over $17 billion transferred for customers in 2025. The majority of those customers are migrant workers who send money home each month to support their loved ones, helping them to pay bills, school fees and medical care, often in regions facing currency volatility or limited banking infrastructure.

In October 2025, Zepz launched the Sendwave Wallet to help support the needs of its customers. Built on Solana, the wallet empowers customers to seamlessly send and store USDC across more than 100 countries, leveraging stablecoin technology to provide a stable value while offering near-instant, reliable, and affordable transfers within the Sendwave ecosystem. Rather than immediately converting funds into local currency, customers can hold value in USDC and determine when and how to cash out.

As digital asset-based remittances grow, effective risk management and compliance frameworks are essential to maintaining trust and meeting global regulatory expectations.

PRESS RELEASE | Zepz Launches The Sendwave Wallet, a Stablecoin-Backed Cross-Border Money Solution

Embedding Blockchain Intelligence into Stablecoin Infrastructure

Since April 2025, TRM Labs has worked with Zepz to design and implement the financial crime controls underpinning its stablecoin products.

TRM provides blockchain intelligence to help organizations identify illicit activity, manage sanctions risk, and support anti-money laundering (AML) compliance. By embedding these capabilities into its wallet infrastructure, Zepz is combining cutting edge innovation in digital payments in tandem with strong safeguards and operational resilience.

“As Zepz builds the next generation of digital remittances, it is prioritizing both access and accountability,” said Will Bell, Business Lead at TRM Labs.

“Our blockchain intelligence platform enables organizations to monitor activity in real time, manage risk exposure, and scale digital asset products in a way that aligns with regulatory expectations.”

“Our customers trust us with something deeply personal, supporting family and friends across borders,” said Zaheer Jassat, VP of Product at Zepz.

“As we expand the Sendwave Wallet and our stablecoin capabilities, that trust becomes even more important. Partnering with TRM strengthens our ability to manage risk responsibly and maintain robust safeguards across our infrastructure, so customers can send, store, and spend their money with confidence.” 

2025 RECAP | Illicit Stablecoin Activity Surged to 5-Year High in 2025 with Over 80% Used for Sanctions Evasion

____________

About Zepz

Zepz is the global payments group powering leading international remittance brands, WorldRemit and Sendwave to build the next generation of cross-border payments. Serving more than 9 million customers and transferring $17 billion for customers in 2025, Zepz is transforming how money moves – making it faster, safer, more convenient, and more affordable. Its innovative, customer-centric solutions, incorporating technologies like stablecoins, are designed to break down financial barriers and expand access to better financial tools.

New products like the Sendwave Wallet go beyond traditional remittances, enabling customers in over 100 countries to store, send, spend, and save money in digital dollars, supporting Zepz’s mission to drive financial empowerment and prosperity for people in the global south.

LIST | Here Are the 28 Leading African Fintechs Partnering with @circle in New Stablecoin Network

Stablecoins have emerged as the most popular applications of cryptocurrencies, particularly being instrumental in cross-border transactions in Africahttps://t.co/wQSWMTIq5Y $USDC pic.twitter.com/K3be1lMu7d

— BitKE (@BitcoinKE) April 25, 2025

 

 

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A U.S. federal court in Texas has dismissed a lawsuit brought by a crypto developer seeking legal protection for his software dealing a setback to efforts aimed at shielding non-custodial tools from regulatory scrutiny.

The case, filed by developer, Michael Lewellen, sought a declaratory judgment that his blockchain-based software called Pharos would not be subject to prosecution under U.S. money transmission laws.

 

 

The court documents state:

Lewellen has refrained from launching his business out of fear of prosecution under 18 U.S.C. § 1960.

This statute criminalizes the failure “to comply with the money transmitting business registration requirements under 5330 of title 31, United States Code, or regulations prescribed under such section” for “whoever knowingly conducts, controls, manages, supervises, directs, or owns all or part of an unlicensed money transmitting business[.]” 18 U.S.C. § 1960.

He is concerned that he will face prosecution for his business that uses his non-custodial code because there are “several ongoing cases with operating unlicensed ‘money transmitting’ businesses under 18 U.S.C. §[]1960(b)(1)(B)” involving similar non-custodial software.

He filed this action, seeking a declaratory judgment that his actions are legal and an “injunction preventing the enforcement of the federal money transmitting laws against Lewellen’s planned cryptocurrency business.”

 

However, the court rejected the claim ruling that Lewellen failed to demonstrate a credible or imminent threat of enforcement against him.

The judge’s decision centered on legal standing finding that the developer’s concerns were largely hypothetical rather than based on any active or pending government action. Without a clear risk of prosecution, the court concluded there was no basis to grant preemptive legal protection.

REGULATION | The Phantom Crypto Wallet Receives First-of-its-Kind No Action Relief from CFTC

The court ruling reads:

Lewellen fails to show there is substantial threat of prosecution. 

Lewellen argues he has a credible fear of prosecution because of ongoing Department of Justice (“DOJ”) cases against defendants “operating unlicensed ‘money transmitting’ businesses under 18 U.S.C with similar non-custodial cryptocurrency technology.

That contention is unpersuasive.

The “core conduct” of those cases is money laundering. By contrast, the core conduct here would be running a business. And Lewellen disclaims any knowing transmission of criminal funds, which is central to the prosecutions he invokes.

Consistent with this distinction, the DOJ has issued a memorandum entitled “Ending Regulation By Prosecution,” formally declaring DOJ will not pursue enforcement actions against “virtual currency exchanges, mixing and tumbling services, and offline wallets for the acts of their end users or unwitting violations of regulations” – the exact scenario over which Lewellen brought this suit.

Accordingly, the ongoing cases are not “substantially similar” to Lewellen’s intended conduct.

While both involve non-custodial cryptocurrency technology, similarity of the tools does not establish similarity of conduct. The critical inquiry is the underlying nature of the conduct, not the mechanism by which the conduct is carried out.

Lewellen admits that his cryptocurrency software code is merely a tool. The fact that “DOJ has taken the position that 18 U.S.C. § 1960 does not require the business to have control of transferred cryptocurrency as a prerequisite to registering as a money transmitter”14 while targeting money laundering does not establish a credible threat of prosecution against a business simply because it uses a non-custodial cryptocurrency software.

Without more, Lewellen has only “a general fear of prosecution [which] ‘cannot substitute for the presence of an imminent, non-speculative irreparable injury.’” Id. (citing Google, Inc. v. Hood, 822 F.3d 212, 228 (5th Cir. 2016).

Disappointed to see the court dismiss my suit today. A non-binding DoJ memo is no substitute for real legal certainty.

My lawyers are exploring all options for a path forward. Huge thanks to the @coincenter team for their incredible support and expertise through this.

We need… https://t.co/uXJqGww7IO

— Michael Lewellen (@LewellenMichael) March 25, 2026

The ruling underscores a broader challenge facing crypto developers in the United States: courts have repeatedly required concrete evidence of regulatory harm before intervening, particularly in cases involving emerging technologies and unclear enforcement boundaries.

Lewellen had argued that uncertainty around how authorities might treat his software – designed for crypto-based donations to charitable crowdfunding campaigns – created legal risk for developers building non-custodial tools. But the court’s dismissal suggests that, absent direct enforcement action, such claims may struggle to gain traction.

The decision comes amid ongoing debates over how U.S. laws should apply to decentralized software, with regulators increasingly focusing on the role developers play in enabling financial transactions on blockchain networks.

REGULATION | A UK Commissioned Report Recommends Halting Political Crypto Donations Due to Foreign Interference Risks

 

 

 

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Revolut reported a 57% jump in annual profit as the crypto-friendly financial technology firm benefited from strong growth across its payments, trading and subscription businesses.

Pre-tax profit rose to $2.3 billion in 2025 while revenue climbed 46% to $6 billion, marking the company’s fifth consecutive year of profitability, according to its annual report.

The London-based firm said growth was driven by a broader mix of income streams, including

card payments,

foreign exchange,

wealth products and

premium subscriptions,

with multiple business lines each generating significant revenue contributions.

The firm said 11 business lines generated over $135 million each with licensed banking operations in over 30 markets with the goal of reaching 100 million customers by 2027.

The firm allows users to buy and sell crypto on its platform and its dedicated exchange, Revolut X.

Customer activity also surged during the year, with total balances rising 66% to $67.5 billion and transaction volumes reaching $1.7 trillion. Revolut added around 16 million users, bringing its total customer base to 68.3 million, while business accounts increased to more than 760,000.

The results underscore Revolut’s continued expansion as it scales its global footprint and deepens its product offering beyond crypto trading into a broader suite of financial services.

2025 RECAP | Bridge by Stripe Sees Stablecoin Volume Soar 4x in 2025

 

 

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Binance, il principale exchange a livello globale, ha avviato una procedura per risolvere il suo caso di evasione fiscale in corso con il Governo Federale della Nigeria al di fuori del tribunale, segnalando una possibile pausa in una delle battaglie legali più importanti del paese riguardanti le criptovalute.

L'avvocato dell'azienda ha detto alla Corte Federale di Abuja che entrambe le parti stanno ora esplorando una risoluzione amichevole, una posizione confermata dall'avvocato del governo che rappresenta l'autorità fiscale.



L'avvocato dell'accusa, Moses Ideho, un Vice Direttore del Dipartimento Legale del Servizio Fiscale della Nigeria (precedentemente il Servizio Fiscale Federale – FIRS), ha dichiarato che Binance si era rivolta al servizio federale per esplorare una risoluzione extragiudiziale.

UK lawmakers are pushing to temporarily halt cryptocurrency donations to political parties citing growing concerns that digital assets could open the door to foreign interference in elections.

An independent review led by former civil servant, Philip Rycroft, recommended a moratorium on crypto-based political donations arguing that current rules are not robust enough to track the true source of funds.

The review highlighted several risks tied to crypto donations, including

the difficulty of identifying ‘ultimate ownership,’

the ability to split large contributions into smaller,

less scrutinized amounts, and

gaps in disclosure thresholds.

Separately, the UK Parliament’s Joint Committee on the National Security Strategy called for an immediate pause on such donations until clearer regulatory guidance is in place. Lawmakers warned that crypto contributions pose an ‘unacceptably high risk’ to political finance by enabling anonymous or opaque funding streams that could be exploited by foreign actors.

Despite these concerns, crypto donations remain legal in the UK under existing Electoral Commission rules. However, the proposed pause is intended as a temporary measure giving regulators time to strengthen oversight rather than signaling a permanent ban.

The push comes amid broader scrutiny of money in UK politics, particularly after some parties, such as Reform UK, began accepting crypto contributions, raising questions about transparency and election integrity in an increasingly digital financial landscape.

POLITICS | Leading UK Opposition Party Leader Invests in a Bitcoin Treasury Company

 

 

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Tether, issuer of the world’s largest stablecoin, USDT, has taken a decisive step toward addressing long-standing transparency concerns by appointing a “Big Four” accounting firm to conduct its first full independent audit of reserves, marking a potential turning point for the digital asset industry.

The company said the audit will comprehensively review its assets, liabilities, reserves, internal controls, and financial reporting systems – going beyond the quarterly attestations it has historically published, which only offered limited, point-in-time snapshots of its balance sheet.

2025 RECAP | Tether (USD₮) Reports Over 500 Million Users and Over $10 Billion in Profit for 2025

Chief Executive Paolo Ardoino described the move as the culmination of years of internal preparation, positioning the audit as a benchmark-setting effort aimed at meeting the highest standards of global finance. While Tether did not disclose which of the four firms

Deloitte,

EY,

KPMG, or

PwC

will conduct the review, the engagement itself is widely seen as a breakthrough after years of failed attempts to secure a top-tier auditor.

2026 OUTLOOK | The ‘Big Four’ Accounting Firms Looking to Ramp Up Crypto Services in 2026

The development comes after prolonged scrutiny of Tether’s reserve backing. The company has faced criticism from regulators, ratings agencies, and market participants for its lack of a full audit and past mis-statements about whether USDT was fully backed by cash.

In 2021, U.S. regulators fined Tether $41 million over inaccurate claims about its reserves, while analysts have repeatedly flagged opacity around asset composition and counterparties.

In 2021, the @CFTC ordered @tether to pay $41 million for misleading statements claiming that U.S dollars fully backed $USDT.

The regulator said false statements about reserves concealed ~$850 million in losses. pic.twitter.com/5lN6nugeNu

— BitKE (@BitcoinKE) March 25, 2026

Until now, Tether relied on attestations from firms such as BDO Italia, which confirmed reserve levels at specific dates but stopped short of providing the continuous, independent verification associated with a full audit. This distinction has been central to criticism from both traditional finance and competing stablecoin issuers, who argue that audits are critical for systemic trust—especially as stablecoins become increasingly embedded in global payments and financial markets.

The timing is also significant. Tether’s USDT supply has ballooned into the hundreds of billions of dollars, making it a systemically important player not only in crypto markets but also in traditional finance through its large holdings of U.S. Treasuries and other assets. The company has also diversified its reserves, including allocations to gold and other investments, further intensifying calls for deeper disclosure.

MILESTONE | Tether is Now One of the Largest Holders of Gold Globally

Industry observers view the audit as a strategic attempt by Tether to align itself more closely with regulatory expectations and institutional capital, particularly as stablecoin legislation advances in key markets like the United States and Europe. A successful audit could strengthen confidence in USDT’s backing and set a precedent for higher disclosure standards across the stablecoin sector.

After years of skepticism and regulatory pressure, Tether’s engagement with a Big Four auditor signals a shift – from defensive transparency to proactive legitimacy – as the firm seeks to cement its role at the center of the global digital dollar economy.

PRESS RELEASE | The First Bitcoin Treasury Company Receives a B- Rating from a Major Credit Rating Agency

 

 

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Una bozza di legislazione statunitense mirata a stabilire regole per le risorse digitali vieterebbe agli emittenti di stablecoin e agli intermediari di offrire rendimenti sui saldi degli utenti, secondo il testo più recente del proposto Crypto Clarity Act esaminato dai partecipanti del settore.

Il linguaggio rivisto, negoziato dai legislatori nei giorni recenti, vieta i cosiddetti premi 'passivi' legati semplicemente al possesso di stablecoin, lasciando però spazio per alcuni incentivi basati su attività legati a transazioni o utilizzo della piattaforma, sebbene i dettagli rimangano poco chiari, secondo i rapporti.

La polizia irlandese ha ottenuto accesso a un wallet Bitcoin a lungo inattivo collegato al trafficante di droga condannato, Clifton Collins, recuperando criptovalute del valore di circa $35 milioni, hanno detto le autorità.

Il Bureau dei Beni Criminali (CAB) dell'Irlanda, lavorando con il Centro Europeo per la Cybercriminalità di Europol, ha detto di aver avuto successo nell'accesso a uno dei 12 wallet associati a Collins, sequestrando 500 Bitcoin che erano stati fuori portata per anni a causa di codici di accesso persi.



In una dichiarazione, il Bureau dei Beni Criminali ha detto:

“Il Bureau dei Beni Criminali, supportato dai nostri partner presso il Centro Europeo per la Cybercriminalità di Europol, conferma il sequestro di circa €30 milioni in criptovalute.