reform

According to The Block, the Washington think tank Cato Institute published an article criticizing the current Bitcoin tax policy in the United States. Researcher Nick Anthony pointed out that the current tax framework treats Bitcoin as "property" rather than "currency," requiring users to calculate capital gains or losses for each transaction individually, even for everyday small purchases. This makes tax reporting extremely cumbersome and effectively hinders the adoption of Bitcoin as a payment tool.In response, the Cato Institute proposed several reform suggestions, including completely eliminating the capital gains tax on cryptocurrency payments and introducing a tax-free threshold for small transactions. The report also mentioned the existing "Virtual Currency Tax Fairness Act," which aims to exempt cryptocurrency transactions under $200, but Anthony believes this threshold is too low to cover the actual spending levels of consumers. Currently, the Trump administration has expressed support for establishing a small tax exemption for cryptocurrency transactions and will continue to evaluate related legislative options.

According to CoinDesk, BitMEX co-founder Ben Delo stated in a commentary for The Daily Telegraph that he has donated £4 million (approximately $5.1 million) to the Reform UK party led by Nigel Farage since the beginning of this year, to support its goal of becoming "a viable alternative for governance." Delo did not disclose whether the donation was made in fiat or cryptocurrency, but publicly supports the UK government's proposed temporary ban on political donations in cryptocurrency, citing regulatory complexities. Recent guidance from the UK Electoral Commission indicates that cryptocurrency donations are not currently prohibited under election law, but must be valued in pounds at the time of receipt and the identity of the donor must be verified. The UK government has announced an immediate suspension of cryptocurrency donations to all parties as part of measures to combat foreign interference.Meanwhile, the Reform UK party has also recently received a £9 million donation from cryptocurrency investor Christopher Harborne.

The prediction market Polymarket collected approximately $7.1 million in trading fees in the first week of the second quarter, becoming one of the most profitable protocols in DeFi. If this pace continues, its annual trading fee revenue could reach about $365 million, potentially capturing 96.8% of the trading fee share in on-chain prediction markets.Analysis suggests that this growth stems from the pricing reform on March 30, maintaining daily trading fee levels at around $1 million, with trading activity remaining high. According to DeFiLlama data, Polymarket's total value locked (TVL) has reached $432 million, nearing the peak during the 2024 U.S. presidential election.In terms of mainstream partnerships, the Intercontinental Exchange (ICE) completed a $600 million cash investment on March 27, as part of a larger $2 billion commitment, to distribute Polymarket's event-driven data to institutional clients. The platform also replaced the USDC.e collateral on Polygon with a brand new 1:1 USDC-backed token, Polymarket USD, as a trading collateral asset.Despite rapid revenue growth, regulatory risks remain. Some U.S. states, as well as countries or regions like Hungary, Portugal, and Argentina, have imposed restrictions or bans on prediction markets, citing that Polymarket is viewed as an unlicensed gambling platform.

According to the National Price Bureau, starting from April 8, 2026, the domestic prices of gasoline and diesel (standard products) will be increased by 420 yuan and 400 yuan per ton, respectively. This adjustment is made to respond to the significant fluctuations in international crude oil prices and to mitigate their impact on the domestic market. The adjustment amount is lower than the amount that should have been increased according to the mechanism calculation (gasoline 800 yuan/ton, diesel 770 yuan/ton).PetroChina, Sinopec, CNOOC, and other crude oil processing enterprises will be responsible for organizing production and transportation to ensure stable market supply and strictly implement national price policies. At the same time, relevant departments in various regions will strengthen market supervision and severely crack down on price violations. Consumers can report price violations through the 12315 platform.

Richard Tice, Vice Chairman of the Reform Movement (who is also the spokesperson for business, trade, energy, and housing for the Reform Party), stated in an interview with Bloomberg that new technologies such as stablecoins can help prevent financial fraud."Fraud always exists, but we need to make it more difficult for them to commit crimes—especially with the advancement of technologies like tech, blockchain, and tokenization, tracking the flow of funds should become easier," Tice said. "Can we somehow track, intercept, or settle these funds before they leave British sovereign territory? I don't know, but I think we must have the courage to consider all these possibilities."

According to market news, Coinbase Chief Policy Officer Faryar Shirzad has called on U.S. lawmakers to reform cryptocurrency tax rules, stating that current laws are outdated. Treating crypto assets as "property" results in tax obligations even for paying gas fees or using stablecoins for everyday transactions, requiring users to calculate cost basis, track gains and losses, and report, creating a compliance burden.Coinbase data shows that the volume of tax-related customer service inquiries has increased by 34% compared to the same period last year, and millions of 1099-DA forms are expected to be issued in 2025, many of which involve very small transactions. Shirzad pointed out that over 63% of users have gaps in cost basis records, leading taxpayers to either overpay taxes or be forced to manually verify transactions. He suggested establishing a minimum exemption threshold for small transactions to eliminate the burden of reporting small payments. If tax rules are not adjusted, it may push users and innovation overseas, affecting the U.S. competitiveness in the crypto space.

According to Dailymail, the UK Labour Party has stated that it will implement a "temporary ban" on political groups accepting cryptocurrency donations until a relevant regulatory framework is established to address the risks of foreign interference in elections.This move is seen as potentially directly affecting the funding sources of the Reform Party. Previously, the party led by Nigel Farage had received significant donations from individuals in the cryptocurrency industry. The UK government stated that this measure aims to enhance the transparency of political funding and public trust, while the relevant ban will apply retroactively to cryptocurrency donations made from today onward.

Stablecoin issuer Circle calls on the EU to accelerate the reform of the digital asset regulatory framework, believing that the current pace may slow down institutional adoption of the tokenized market.In feedback regarding the EU's "Market Integration Proposal," Circle stated that the proposal is an important step towards modernizing capital markets, but there are still shortcomings in scalability, regulatory mechanisms, and settlement rules. Circle supports the optimization of the distributed ledger technology (DLT) pilot framework, including expanding the range of assets that can be included and increasing the transaction size limit, but points out that existing restrictions still suppress liquidity and institutional participation. The company suggests introducing a "dynamic threshold" mechanism that allows regulatory parameters to automatically adjust according to market developments, rather than relying on periodic legislative updates. At the same time, Circle calls for a clear path for transitioning from the pilot phase to a formal regulatory system. Furthermore, Circle emphasizes the need to accelerate the pace of relevant reforms, warning that if regulatory progress is slow, it may lead to the migration of tokenized financial activities to faster-developing markets like the United States.

Aave founder Stani Kulechov posted an article calling for reforms in the DAO governance model. He pointed out that the current operation of DAOs is extremely difficult, with the decision-making process slowed down by forum discussions, temperature checks, and multiple rounds of voting. At the same time, DAOs can easily become politicized, with participants forming political alliances, ultimately leading to "politicians" winning instead of builders.Kulechov advocates that governance should focus on areas that truly require collective participation, such as significant protocol changes and treasury strategies, while the rest should belong to the execution level, requiring leaders to drive it forward. He stated that Aave needs to remain agile and streamline governance processes to capture opportunities in the global lending market. Recently, the Aave community experienced governance turmoil, with core contributors BGD Labs and ACI withdrawing from the protocol due to conflicts with Aave Labs, and both sides having disagreements over the "Aave Will Win" proposal put forth by Aave Labs.

The leader of the UK Reform Party, Nigel Farage, invested £215,000 (approximately $286,000) through his company Thorn In The Side Ltd. in the UK-listed Bitcoin financial company Stack BTC (STAK), acquiring approximately 6.31% of the shares after the new stock listing.This round of financing raised a total of £260,000, issuing 5.2 million new shares at a price of 5 pence per share, with Blockchain.com also participating. The new shares are expected to start trading on the Aquis Growth Market on March 12.

According to Yahoo Finance, Nigel Farage, leader of the Reform Party in the UK, has invested in the London-listed Bitcoin company Stack BTC. Farage purchased 4.3 million shares at 5 pence each through his company Thorn In The Side Ltd, acquiring a 6.31% stake in Stack BTC, valued at £3.4 million. This round of £260,000 funding also attracted cryptocurrency company Blockchain.com as a strategic investor.Stack BTC is chaired by former Chancellor of the Exchequer Kwasi Kwarteng and plans to build a portfolio of UK businesses while holding Bitcoin reserves. Blockchain.com registered as an FCA crypto asset business earlier this year and will collaborate with Stack to develop a Bitcoin reserve strategy. Farage stated that he has long been one of the few political advocates for Bitcoin in the UK, believing that London should become a major global cryptocurrency hub.

According to the latest documents disclosed by the UK Electoral Commission, Thames-based investor Christopher Harborne has provided further donation support to the Reform Party. Harborne is estimated to hold about 12% of the shares in Tether, the world's largest stablecoin issuer. The disclosed documents show that following a £9 million donation made public last year, Harborne donated an additional £3 million in November.Under the leadership of Nigel Farage, the Reform Party has made digital assets a core part of its economic agenda, promising to make the UK a "primary hub" for digital assets and proposing to reduce the capital gains tax on cryptocurrencies from the current rate of about 18% to 10%. The Reform Party became the first UK political party to accept donations in digital assets in 2025, allowing supporters to donate using cryptocurrencies like Bitcoin. This move has raised concerns among some MPs; in January, the chairs of seven parliamentary committees urged the government to ban political donations in cryptocurrencies, arguing that digital assets could obscure the source of funds and pose a risk of foreign interference in the electoral system.

Cryptocurrency journalist Eleanor Terrett posted on the X platform that another key advocate for cryptocurrency tax reform in the U.S. Senate will not seek re-election.Senators Lummis and Steve Daines have confirmed they will not run for re-election, and Marsha Blackburn will also leave the Senate if elected Governor of Tennessee.

According to Decrypt, South Korean Deputy Prime Minister and Minister of Economy and Finance Choo Kyung-ho has pledged to undertake a comprehensive reform of the way public institutions handle digital assets.A series of previous incidents have exposed weaknesses in the government's custody and oversight of seized cryptocurrencies. Choo stated that he would collaborate with institutions such as the Financial Services Commission and the Financial Supervisory Service to examine the current status and management practices of digital assets held and managed by the government and public institutions through measures such as seizures, and to swiftly take action to enhance the security of digital assets to prevent similar incidents from occurring again. He emphasized that the digital assets held by the government are limited to those obtained through legal enforcement measures such as tax seizures or criminal investigations.

According to DL News, El Salvador is further advancing its Bitcoin experiment through a brand new public education campaign. The Bitcoin Diploma 2.0, launched by the El Salvador National Bitcoin Office on Sunday, is "a complete overhaul of its educational program." The first batch of teaching materials has been printed and will be used in El Salvador's education system, with the curriculum set to be fully implemented in public schools by 2026.

Jim Moloney, head of the SEC's Division of Corporation Finance, stated that they are working to expedite the development of regulatory rules. The division will primarily focus on reforms related to crypto assets and is preparing to submit two key proposals regarding crypto assets to the Commission: first, to provide interpretive guidance that offers a clear classification for crypto assets and describes the framework for determining when crypto assets are subject to investment contract obligations; second, to develop a reasonable regulatory structure proposal for the issuance and sale of such securities that are subject to investment contract obligations.Additionally, the division will continue to provide market clarity through statements and no-action letters. Jim Moloney also mentioned that other ongoing work by the SEC includes: implementing the Holding Foreign Companies Accountable Act (HFCAA); creating an option for semi-annual reports instead of quarterly reports; and alleviating regulatory burdens under Regulation S-K, including executive compensation disclosures.

According to official news, YZi Labs Management Ltd. is currently reviewing the recent actions taken by BNC (CEA Industries) regarding the formation of a shareholder group and the initiation of a proxy solicitation process. These actions, which harm shareholder interests, include the "poison pill plan" and amendments to the bylaws aimed at obstructing and delaying shareholders from exercising their rights through written consent. YZi believes that the substantive effect of these actions is to impose unnecessary restrictions and procedural burdens beyond what is required by Nevada law.The company's board of directors ("Board") appears to be taking these steps to consolidate its position—even after YZi warned that further erosion of shareholder rights would provoke strong dissatisfaction among shareholders. YZi has reminded the Board that its failure to properly fulfill its fiduciary duties may expose it to potential legal risks. Nevertheless, the Board has chosen to restrict shareholder rights rather than acknowledge its mistakes, indicating that they are aware of their lack of shareholder support. Many other shareholders have confirmed to us that they share the same concerns and shock as YZi regarding BNC's unwise strategic shift and abandonment of the BNB ecosystem.Furthermore, YZi refutes the company's false statement that it "has never considered adopting alternative tokens for the company's digital asset reserve strategy, nor has it initiated a competitive digital asset reserve business." This denial contradicts the remarks made by BNC CEO David Namdar at the industry conference in November 2025, where he explicitly stated that BNC had considered shifting to other crypto assets like Solana. Coupled with Mr. Namdar and Board member Hans Thomas actively promoting and fundraising for other digital asset reserve projects during their tenure at BNC, YZi believes shareholders have reason to be concerned about their interests being betrayed.

The WeChat official account of the Supreme People's Court published an article in its managed academic journal "Digital Rule of Law" titled "Commercial Law Reform Facing Digital Transactions, Electronic Currency, and Virtual Property," which points out: The amendments to the Uniform Commercial Code, jointly revised by the American Law Institute and the Uniform Law Commission, were officially passed in 2022 and subsequently widely adopted by state legislatures in the United States. These amendments incorporate a variety of transaction methods, including electronic forms, clarify the relationship between tangible currency, central bank digital currency, and other virtual currencies, create a new type of property called "controllable electronic records," and specify the control and circulation rules for such property.China's civil and commercial regulations should also be oriented towards the development of digital transactions, electronic currency, and virtual property, aiming for practical-oriented legal improvements to stimulate economic and technological development and gain an advantage in international institutional competition.

As the Trump administration enters its second year, the regulatory landscape for cryptocurrency in the United States is shifting. The Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) have moved from a jurisdictional tug-of-war to closer collaboration, jointly advancing cryptocurrency regulation. SEC Chairman Paul Atkins is promoting a "token classification system," Project Crypto, and an innovation exemption mechanism, and has approved various cryptocurrency ETF listing standards, while also prioritizing asset tokenization in regulatory focus.The CFTC is accelerating rule clarification through "Crypto Sprint," and under the new chairman Michael Selig, it is expected to play a more central role in the regulation of cryptocurrency commodities like Bitcoin. Industry insiders believe that by 2026, U.S. cryptocurrency regulation will present a dual-track pattern of SEC institutional innovation + CFTC-led market expansion. Former SEC senior lawyer Howard Fischer pointed out that this is the first time he can recall the two agencies advancing cryptocurrency regulation in such a highly collaborative manner, and he anticipates that this cooperation will dominate the regulatory agenda in 2026.