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According to Edaily, Kim Sang-hoon, the chairman of the Digital Assets Special Committee of the People Power Party of Korea, expressed concerns about the restrictions on equity in cryptocurrency exchanges at an academic conference. He called for the prioritization of advancing the basic law on digital assets related to stablecoins (Phase Two legislation) to avoid getting caught in equity regulatory disputes and missing the golden legislative opportunity.He pointed out that the reality of the issuance and circulation of the Korean won stablecoin KRWQ has emerged overseas, posing a severe challenge to monetary sovereignty. Kim Sang-hoon emphasized that the law should provide market predictability, offer clear guidance for operators, and establish effective safety mechanisms for users.

The U.S. Court of Appeals for the Ninth Circuit heard oral arguments from lawyers representing the prediction market platform Kalshi and Nevada authorities regarding Nevada's ban on the platform's event contracts. This appeal stems from a lower court ruling that prohibited Kalshi from offering certain event-based contracts in Nevada based on the claim that Kalshi requires a license.The appellate court judges responsible for Thursday's oral arguments and Kalshi's lawyers acknowledged that there have been several state-level enforcement actions against Kalshi and other prediction market platforms, including criminal charges filed in Arizona. However, a federal court last week blocked Arizona authorities from enforcing the state's gambling laws against Kalshi's event contracts."I believe existing case law does indicate that what we want to avoid here is state courts and federal courts simultaneously considering the exact same issue and potentially reaching different conclusions," said Colleen Sinzdak, representing Kalshi.The core argument of Kalshi's debate is that the platform's event contracts fall under "swap" transactions and should be regulated by the Commodity Futures Trading Commission, rather than state gambling regulators. CFTC Chairman Michael Selig supported this position in the case involving Crypto.com's prediction market and Nevada authorities.Coinbase Chief Legal Officer Paul Grewal predicted that this case may be appealed to the U.S. Supreme Court. "The questions in the oral arguments are not a reliable signal of the court's leanings; nonetheless, I stand by my long-standing prediction that the Supreme Court will rule on whether sports contracts on designated contract markets fall under the exclusive jurisdiction of the CFTC as swap transactions."

JPMorgan analysts have stated that negotiations for the U.S. "Cryptocurrency Market Structure Act" (i.e., the CLARITY Act) have entered the final stages, with both sides reaching compromises on a few remaining contentious points. The number of disputes has been reduced from over a dozen to 2-3 core issues, with discussions on stablecoin rewards being "in a good place." While banks express concerns about stablecoins offering similar yields to deposits, there is an overall bipartisan compromise trend. JPMorgan believes that "there is no perfect bill," and once passed, the bill will provide important regulatory clarity for the integration of digital assets into the U.S. financial system.The "Cryptocurrency Market Structure Act" is currently in advanced negotiations in the U.S. Senate, with Senate staff stating that the draft is "very close" to resolution, but the final text has not yet been released, nor has a formal vote been scheduled. The remaining major disagreements focus on stablecoin rewards, DeFi regulation, and token classification issues. Although optimism is rising, there is still a risk of delays due to the 2026 midterm elections, which could lead to a more uncertain political environment. If the bill is ultimately passed, it will delineate the regulatory authority between the SEC and CFTC, providing a long-term regulatory framework for stablecoins, DeFi, and the entire cryptocurrency industry.

The Bank of Korea stated that after the mispayment incident at Bithumb, careful consideration should be given to introducing a "circuit breaker" mechanism in the cryptocurrency market similar to that in traditional financial markets, to address extreme market volatility and systemic risks.The Bank of Korea pointed out that as the scale of the cryptocurrency market expands and related risks increase, existing regulatory measures are insufficient to fully cover potential issues. Therefore, it is necessary to study the introduction of protective mechanisms that can automatically interrupt trading to enhance market stability and investor protection. Previously, Bithumb experienced abnormal payments of some users' assets due to a system failure, which attracted market attention.

OKX founder and CEO Star responded to the tweet "Xu Mingxing rarely attends Hong Kong meetings," stating that he will gradually distance himself from the rumors and focus more on internal management, strategy, and technological products. OKX is also abandoning businesses it is not good at, concentrating on building great products, a comprehensive compliance and governance system, and establishing long-term, solid trust with regulators.He mentioned that the people in the photo are all old friends, and he is also an investor in some of the companies. Although there has been competition among peers in the past, essentially, everyone has worked together for many years and are all close brothers.At the same time, he acknowledged some inherent flaws in his personality—low emotional intelligence, being too straightforward, overly serious, and too persistent about right and wrong, as well as not being good at handling complex interpersonal relationships and individual business negotiations.

The crypto wallet app Phantom experienced a temporary service interruption, affecting token prices and balance displays. The team is actively working to fix the related issues.

According to reports from The Paper, the People's Court of Xingqing District in Yinchuan City recently concluded a civil and commercial dispute arising from entrusted investment in virtual currency. In the case, the plaintiff entrusted funds to the defendant for virtual currency investment, and after failing to recover the investment amount, filed a lawsuit in court on the grounds of "unjust enrichment."After reviewing the case, the presiding judge determined that it was indeed a contractual relationship of entrustment and clarified the litigation risks and legal pros and cons to both parties, ultimately facilitating the plaintiff's withdrawal of the lawsuit against some defendants, with another defendant returning the principal investment. The case was successfully resolved through mediation.The judge also reminded that according to the judicial viewpoint of the Supreme People's Court, entrusted investment contracts signed after the central bank and seven other departments issued a risk announcement on virtual currency on September 4, 2017, will be deemed invalid due to illegal agency matters, and investors should carefully assess the relevant legal risks.

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According to Cointelegraph, Bitcoin financial services company Swan Bitcoin filed an ex parte application in the Federal Court for the Southern District of New York on Monday, seeking to issue subpoenas to Cantor Fitzgerald and its former CEO Howard Lutnick for key documents related to its failed mining joint venture project.Swan Bitcoin sued several former employees in 2024, accusing them of stealing confidential documents after collectively leaving the company to establish a competing firm, Proton Management, and allegedly persuading Tether to terminate its partnership with Swan in favor of supporting the new company. Swan claims this plan was internally referred to by former employees as the "Rain and Hellfire" plan, primarily orchestrated by former Head of Business Development Michael Holmes and former Chief Investment Officer Raphael Zagury. Swan believes that Cantor Fitzgerald, as Tether's investment banking advisor, may hold key documents related to the low-priced sale of Swan's mining joint venture project 2040 Energy assets to a Tether subsidiary.

According to IT Home citing The Information, two informed sources stated that TikTok's Chinese parent company ByteDance has suspended its global launch plan for the latest video generation model Seedance 2.0 after a series of copyright disputes with several major Hollywood studios and streaming platforms.The report stated that ByteDance originally planned to launch this new video model to global users in mid-March, but has now suspended the related plans. The report added that ByteDance's legal team is investigating and addressing potential legal issues, and engineers are also increasing protective mechanisms to prevent the model from generating content that may lead to further intellectual property infringements.

The Chairman of the U.S. Commodity Futures Trading Commission (CFTC), Mike Selig, disclosed his remarks at the FIA Global Clearing Markets Conference, stating that the U.S. is undergoing a new technological revolution driven by AI, blockchain, and prediction markets. The CFTC needs to ensure that the regulatory framework adapts to this transformation.Selig outlined the focus areas for the coming years: achieving forward-looking derivatives market regulation through principle-based oversight with minimal effective intervention; addressing the legacy issues of the Dodd-Frank Act; ending the regulatory turf battles and enforcement-style regulation between the CFTC and SEC; ensuring that the U.S. maintains its status as a global crypto hub by clarifying classification rules for real crypto perpetual contracts; establishing a gold standard regulatory framework for prediction markets; making the U.S. a leading market for AI computing; refocusing the Commission on its core responsibilities, moving away from non-core areas like climate policy; prioritizing the needs of the agricultural and energy communities; and bringing markets for critical minerals back to the U.S.

A U.S. federal judge has issued a temporary restraining order against the cryptocurrency lending firm BlockFills, temporarily freezing its disputed assets. Dominion Capital filed a lawsuit on February 27, accusing BlockFills of misappropriating and unlawfully retaining customer crypto assets worth millions of dollars, commingling customer assets, concealing significant losses, and refusing to return funds after suspending withdrawals on the BlockFills platform in February. The frozen amount is 70.6 BTC, and it has prevented BlockFills from transferring assets overseas.The cryptocurrency lending firm BlockFills has been struggling, reporting a loss of $75 million, and suspended user deposits and withdrawals on February 11. The company, headquartered in Chicago, serves approximately 2,000 institutional clients, with a trading volume reaching $60 billion by 2025, and is currently seeking a buyer.

Dragonfly managing partner Haseeb Qureshi recently engaged in a public debate on social media with former co-founder Alexander Pack (now co-founder of Hack VC).Haseeb posted a reflection on his experience building the venture capital firm, stating that Dragonfly's early brand and system were not yet established, and that development and scaling only began after his arrival. In response, Alexander Pack countered that Dragonfly had already been co-founded by him and Feng Bo for over a year before Haseeb joined, and had committed to leading investments in projects such as Bybit, Amber Group, and Crusoe, with the relevant fund announcements made prior to Haseeb's employment.Haseeb then responded, claiming that some of the other party's statements were inconsistent with the facts, and clarified the specific roles and decision-making processes regarding project investments, leading to an ongoing debate between the two about the company's founding phase and investment contributions.

According to The Block, K33 research director Vetle Lunde pointed out that the current trading price of Bitfinex's LEO token is about 60% above its implied fair value, which may indicate that the market expects new developments in the process of handling the Bitcoin seized during the 2016 Bitfinex hack.Currently, approximately 94,636 Bitcoins related to this incident remain frozen, representing about 30% of the U.S. strategic Bitcoin reserves, and are undergoing legal proceedings to determine the victims' claims. According to Bitfinex's commitment in 2019, if the assets are recovered, 80% of them will be used to repurchase and burn LEO tokens.Analysts believe that if the court rules to return the Bitcoins to the victims rather than confiscating them by the government, about 75,000 Bitcoins could gradually enter the market over the next 18 months, with an average daily sell-off of approximately 139 Bitcoins.

The Aave community governance conflict has escalated again. The Aave Chan Initiative (ACI) and its founder Marc Zeller released an "audit" report targeting Aave Labs on the eve of a vote for a $51 million proposal known as "the largest funding request in Aave's history," sparking widespread discussion.ACI stated on social media that before the "$51M Aave Will Win" proposal enters Snapshot voting, the community should examine Aave Labs' past performance and its cumulative use of approximately $86 million in funds. Zeller mentioned that ACI has already released its own transparency report and evaluated Aave Labs using the framework of "what was delivered, how much it cost, and what the returns were." The report pointed out that Aave Labs has a cumulative "total capitalization" of about $86 million, which includes: $16.2 million from the 2017 ICO financing, $32.5 million from VC funding rounds, $31.93 million from direct DAO grants, and approximately $5.5 million categorized as "unapproved" swap fees.Zeller also noted that the founding team once held 23% of the initial supply of LEND (which later migrated to AAVE), but the current AAVE holdings have not been publicly disclosed. The report questions why Aave Labs has not released an "accountability report" that includes cost-output ratios, financial disclosures, and wallet transparency, arguing that information disclosure remains insufficient in the context of receiving large amounts of funding over the long term.

According to Jinshi reports, a Reuters survey shows that the S&P 500 index is expected to rise by 10% before the end of the year, but the market remains concerned about the trade disputes and the disruptive effects brought by artificial intelligence.

The U.S. Commodity Futures Trading Commission (CFTC) submitted an amicus brief to the U.S. Court of Appeals for the Ninth Circuit regarding the prediction market dispute between Crypto.com and the state of Nevada, arguing that Congress granted the CFTC "exclusive jurisdiction" over futures and related products under the Dodd-Frank Act, and that this authority also applies to event contracts.

According to CoinDesk, the U.S. Senate's cryptocurrency market structure bill has stalled over issues related to stablecoin yields.Bankers insist on a complete ban on stablecoin yields, arguing that it threatens bank deposit operations; the Digital Chamber of Commerce released a principles document today in response, willing to forgo interest on static holdings of stablecoins but insisting on retaining reward mechanisms related to liquidity provision and ecosystem participation, especially in the DeFi space. The White House has urged both sides to reach a compromise by the end of the month and may schedule a new round of meetings next week. Digital Chamber of Commerce CEO Cody Carbone stated that if bankers refuse to negotiate, the status quo will be the continued existence of reward mechanisms.

According to the Financial Times, Tether net purchased $28.2 billion in U.S. Treasury bonds in 2025, becoming the seventh largest foreign buyer, with its holdings surpassing those of countries like South Korea and Saudi Arabia, alongside Circle. U.S. Treasury Secretary Scott Bessent believes stablecoins are tools for promoting the dollar and absorbing U.S. debt, expecting the industry to grow from its current $300 billion to $3 trillion.Currently, the banking industry and the cryptocurrency sector are competing over stablecoin regulations. JPMorgan CEO Jamie Dimon and Coinbase CEO Brian Armstrong have disagreements on related terms. The banking sector is concerned that allowing third parties to pay interest on stablecoins will lead retail deposits to flow into stablecoins, thereby increasing financial risk. This standoff has caused divisions among Trump supporters, involving conflicts of interest between Wall Street banks and cryptocurrency industry donors.