Crypto Regulation News

California lawmakers have passed AB 2409, a bill targeting meme coins issued by public officials. If signed by the governor, the measure would prohibit state public officers and employees from issuing meme coins and bar digital asset service providers from listing covered official-linked tokens for California residents from January 1, 2027. The bill reflects rising ethics concerns around political figures profiting from speculative crypto assets.

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UK ministers are moving to strengthen London’s position in digital finance by giving the Bank of England a formal innovation objective for payments and digital money. The plan comes as the BoE adjusts stablecoin rules, including replacing earlier ownership limits with a £40 billion issuance cap. The shift could make regulated sterling stablecoins more viable while supporting broader tokenisation work across UK markets.

South Korea’s People Power Party said it will discuss virtual asset taxation policy at a workshop on August 27 before informing the public of its position. Party leader Jang Dong-hyuk said the PPP has not clearly responded to digital asset policies pursued by the Democratic Party and the Lee Jae-myung administration. The government plans to implement income tax on digital assets from January 1, 2027.

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South Korean lawmakers are accelerating efforts to create a legal framework for won-denominated stablecoins, with the ruling party aiming to pass the second phase of the Digital Asset Basic Act by year-end. An integrated bill from the Financial Services Commission is expected next month. The push comes as Seoul seeks to reduce reliance on dollar stablecoins and strengthen its role in global digital asset markets.

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The Bank of Russia has proposed requiring financial intermediaries to include cryptocurrencies when calculating prudential ratios tied to financial resilience. The rules would apply to brokers, trustees, forex dealers, and crypto exchange offices. Only exchange-traded cryptocurrencies could be counted, and they would be capped at 25% of assets used in the calculation.

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Capital.com is moving toward spot cryptocurrency trading in the UAE after affiliate Capital Vault obtained a virtual-asset licence from the Capital Markets Authority. The service would allow customers to purchase and hold actual digital assets, unlike the platform’s existing CFD products. Capital Vault will handle execution, custody and settlement, while details on the launch timing and supported assets remain undisclosed.

President Donald Trump used a White House crypto summit to announce plans for the U.S. to buy Bitcoin and urge Congress to pass the CLARITY Act. He also said the “war on crypto” was over. Industry executives including Brad Garlinghouse and Brian Armstrong attended the event, with Armstrong identifying the planned Sept. 15 Senate vote as a potential catalyst for the crypto market.

Vietnam is pursuing a pilot program to bring the crypto market into the regulatory fold as it seeks to exit the Financial Action Task Force watchlist, The Business Times reported. Vietnamese authorities are targeting a third-quarter launch for the crypto exchange pilot, with five companies having passed preliminary screening. Authorities plan to select firms that meet capital and security requirements and guide cryptocurrency trading into the formal regulatory system.

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The SEC proposed new rules, “Regulation Crypto Assets,” that would create a clear and fit-for-purpose framework for certain investment contracts involving crypto assets. Paul Atkins says Regulation Crypto Assets, seeks to provide crypto asset entrepreneurs and market participants with clear pathways to raise capital under the federal securities laws.

The European Union’s stablecoin regulation debate centers around the concept of fungibility, a key characteristic that affects the coins’ usability and potential adoption. The ECB’s objection is a run-dynamics argument, stated plainly in its November Financial Stability Review: when an EU entity and a third-country entity jointly issue a fungible coin, the EU issuer may hold “insufficient reserve assets under the supervision of EU authorities to fulfil the combined redemption requests.”