News linked to both this project and an event.
According to the Financial Times, UK-based startup Stratiphy will offer both cryptocurrency exchange-traded notes (ETNs) and innovative finance ISAs (IF ISAs), enabling investors to hold crypto assets within capital gains tax-free accounts. Stratiphy provides three ETNs issued by 21Shares—the largest European crypto ETP issuer—which track Bitcoin, Ethereum, and a Bitcoin-and-gold composite product. The platform currently manages approximately £4 million in assets and serves around 2,000 clients. In October last year, the UK’s Financial Conduct Authority lifted its four-year ban on retail investors purchasing exchange-traded notes (ETNs).
According to Caixin, the Monetary Authority of Singapore (MAS) released a consultation paper on April 17, 2026, proposing more accommodating regulatory capital guidelines for crypto assets on permissionless blockchains (i.e., public blockchains) ahead of implementing the Basel Committee’s new capital requirements for crypto assets. The current Basel framework is viewed as overly stringent in its classification of public blockchain-based assets, potentially stifling banking-sector innovation. MAS plans to abandon a “one-size-fits-all” classification approach and instead allow public blockchain-based crypto assets that meet a set of principle-based criteria to be classified as Group 1 crypto assets—carrying lower risk weights and less stringent prudential requirements—to achieve regulatory technology neutrality.
The Economic Daily published an article titled “Leveraging China’s Token Advantages,” which points out the need to clearly recognize potential risks associated with tokens, including identity theft due to token leakage, unauthorized access and theft of sensitive data through forged permissions, and user exploitation via agent-based commission schemes. Some lawbreakers have begun targeting tokens, setting up consumer traps disguised as “discounted token packages” or “token agents.” It is essential to continuously improve policy frameworks, regulations, and standards, and to standardize token trading秩序 by cracking down on price monopolies, false advertising, and illegal financial activities. Illegal and non-compliant activities—including speculative “hoarding for appreciation” and over-the-counter trading—must be resolutely curbed, guiding tokens back to their fundamental roles in technical services, value settlement, and rights transfer.
Odaily News: According to sources, UK-based digital bank Revolut plans to seek a valuation between $150 billion and $200 billion in its future IPO, a significant increase from its previous $75 billion valuation. The company's CEO, Nik Storonsky, also revealed that Revolut is preparing for a new round of secondary share sale in the second half of 2026, with a potential valuation exceeding $100 billion. (Financial Times)Previously, Nik Storonsky stated that the company's listing timeline is at least two years away, potentially delayed until 2028 at the earliest, with no immediate IPO plans. He pointed out that Revolut is currently focusing on expanding its presence in the US market, including applying for a banking license to gain access to the Federal Reserve's payment system and expand its lending and credit card businesses. Meanwhile, the company has already obtained a full banking license in the UK.
Odaily News Letitia James has filed lawsuits against Coinbase and Gemini, alleging that they provide "disguised gambling" services through their prediction market platforms, violating New York state law.Regulators argue that this type of trading based on event outcomes (such as sports, elections) is essentially a form of gambling activity. They particularly question the platforms allowing participation from users aged 18 to 21, while New York law sets the minimum age for sports betting at 21. Prosecutors are seeking substantial fines and the disgorgement of profits, including claims of at least $2.2 billion from Coinbase and at least $1.2 billion from Gemini.The two companies have not yet formally responded, but Coinbase stated that prediction markets are regulated by the Commodity Futures Trading Commission, implying their legality falls under federal jurisdiction.
According to the official announcement, Layer 1 public blockchain Pharos has unveiled the tokenomics for its native token PROS, with a total supply of 1 billion tokens. The initial supply allocation is as follows: Foundation Treasury (16%), Lab Co. Treasury (9%), Team (20%), Investors (20%), Ecosystem & Community (21%—including 6% for community airdrops: 1% unlocked at TGE and 5% reserved for future community growth and airdrop incentives), and Node & Liquidity Incentives (14%). Core team members and private-sale investors are subject to a 12-month lock-up period followed by a 36-month linear vesting schedule. Certain treasury and incentive allocations extend vesting periods to 48–60 months. PROS serves multiple functions: transaction fees, PoS staking, validator participation, governance, ecosystem incentives, and potential RWA-specific use cases. The staking issuance policy adopts a phased approach: zero inflation during the first six months following mainnet launch; starting in Month 7, annual inflation is set at 5%, subject to dynamic adjustment by the Foundation based on network operational conditions.
According to CoinDesk, KAIO, a regulated tokenization firm based in Abu Dhabi, has announced the completion of an $8 million strategic funding round, with investors including Tether. Combined with its prior funding, KAIO’s total capital raised now stands at $19 million. KAIO primarily provides infrastructure for asset management firms to distribute funds on-chain, enabling products from institutions such as BlackRock, Brevan Howard, and Hamilton Lane to be integrated into blockchain systems. KAIO stated it plans to expand into credit, structured investment products, and ETFs, and intends to launch on-chain funds in partnership with Mubadala Capital. The company reported currently managing approximately $100 million in assets and having processed over $500 million in cumulative transactions.
According to The Block, the cryptocurrency venture capital sector is undergoing a structural shift. Investors now broadly require startups to demonstrate real users and revenue before committing capital—marking the end of the era when early-stage fundraising was easy. Token-based exit strategies have become significantly less reliable; low-liquidity, high-valuation token launches continue to underperform the broader market, prompting investors to revert to traditional equity-oriented thinking. Meanwhile, the rise of the AI sector has siphoned off substantial LP capital and entrepreneurial talent, further intensifying fundraising challenges for crypto VCs. Nonetheless, several investors note that reduced competition, more rational valuations, and an improving regulatory environment point to 2026–2027 as the strongest investment years since 2018. Future capital will focus on areas with clear business models—including stablecoins, payments, tokenization, real-world assets (RWAs), and financial infrastructure—while the boundaries between crypto VCs and traditional VCs accelerate toward convergence.
According to Caixin, the one-month public consultation period for the “Draft Financial Law of the People’s Republic of China” concluded today (April 19), marking the first overarching financial law—both in China and globally—to bear the name “financial law.” A key issue drawing intense market attention is the draft’s expansion of financial regulators’ powers into quasi-judicial authority. Under Article 55 and related provisions, financial regulatory authorities are empowered to review and copy property rights information, communication records, and transaction records of relevant entities and individuals during investigations into financial violations; where evidence exists indicating suspected transfer or concealment of illicit funds or securities, authorities may directly freeze or seal such assets; and even suspects may be barred from leaving the country during the investigation period. Moreover, Zeng Gang, Chief Expert and Director of the Shanghai Financial Development Laboratory, argues that the Financial Law should also strengthen its focus on and coverage of emerging financial sectors. Issues already sparking broad global debate—including AI-driven financial decision-making, the legal status of digital currencies, and the regulatory boundaries for crypto assets—are barely addressed in the draft. Striking a dynamic balance between rule-of-law-based regulation and innovation-friendly inclusivity remains an unresolved challenge posed by this legislation.
According to the Hong Kong Commercial Daily, in response to growing discussions in Hong Kong about “Middle Eastern capital flowing into the city,” Mr. Chan Ho-lam, Deputy Secretary for Financial Services and the Treasury of the Hong Kong SAR Government, stated that there has indeed been an increase in client inquiries regarding how to transfer funds to Hong Kong or open accounts here. He emphasized that exchanges between Hong Kong and the Middle East are two-way: a licensed virtual insurance company based in Hong Kong has already expanded its operations into Saudi Arabia and the United Arab Emirates; Hong Kong’s tokenized funds have been listed on Middle Eastern wealth management platforms; and Asian investors can purchase Islamic bond ETFs in Hong Kong—providing Middle Eastern investors with a familiar and trusted market. Mr. Chan stressed that the Hong Kong government is actively promoting fintech and digital assets. It is currently formulating legislative proposals for licensing regimes covering digital asset trading and custody services, aiming to establish a comprehensive regulatory framework and position Hong Kong as a global hub for digital asset innovation.
According to CoinDesk, Kelp DAO’s LayerZero-based cross-chain bridge was attacked, with the attacker withdrawing 116,500 rsETH—worth approximately $292 million at current prices, or roughly 18% of its circulating supply. This incident has become the largest DeFi attack of 2026 to date. In response, Aave, SparkLend, and Fluid have frozen rsETH-related markets, and Lido Finance has suspended new deposits into its earnETH product. Kelp DAO stated it is jointly investigating the incident with LayerZero, auditing firms, and external security experts.
According to CoinTelegraph, at the 2026 Paris Blockchain Week, Thomas Vogel, a partner at law firm Latham & Watkins, stated that Europe faces significantly different regulatory constraints compared to the U.S. regarding the issuance of financial instruments such as convertible bonds. Differences in capital market depth, regulatory environments, and investor behavior make it difficult for European companies to directly replicate MicroStrategy’s Bitcoin treasury strategy. Alexandre Laizet, Head of Bitcoin Strategy at French treasury firm Capital B, noted that European firms are instead turning to local market infrastructure—such as France’s public markets and Luxembourg-based structures—to raise Bitcoin-linked capital. Currently, major Bitcoin-holding enterprises in Europe lag far behind their U.S. counterparts in scale: Germany’s Bitcoin Group SE holds 3,605 BTC (approximately $268 million); Capital B holds 2,925 BTC at an average purchase price of $99,932, resulting in an unrealized loss of approximately 25.6%; the Netherlands’ Treasury holds 1,111 BTC at an average price of $111,857, with an unrealized loss of roughly 33.5%; and Sweden’s H100 Group holds 1,051 BTC at an average price of $114,615, incurring an unrealized loss of about 35.1%.
According to The Block, the Washington-based think tank Cato Institute published a critique of the U.S.’s current Bitcoin tax policy. Researcher Nick Anthony pointed out that the existing tax framework—which classifies Bitcoin as “property” rather than “currency”—requires users to calculate capital gains or losses for every single transaction, including routine, small-value purchases. This makes tax filing extremely cumbersome and effectively hinders Bitcoin’s adoption as a payment instrument. In response, the Cato Institute proposed several reform measures, including fully eliminating capital gains taxes on cryptocurrency payments and introducing a de minimis exemption threshold for small transactions. The report also referenced the existing Virtual Currency Tax Fairness Act—a bill that would exempt crypto transactions under $200—but Anthony argued that this threshold is too low to reflect real-world consumer spending levels. Currently, the Trump administration has expressed support for establishing a de minimis exemption for cryptocurrency transactions and will continue evaluating related legislative options.
According to CoinDesk, South Korea’s Ministry of Economy and Finance announced it will launch a blockchain-based deposit token pilot in Sejong City in Q4 2026, replacing traditional government procurement card payments. The project has been approved under the 2026 regulatory sandbox program, permitting institutions to pay business promotion expenses in the form of tokenized deposits. Token payments can be pre-configured with spending limits and eligible industry scopes, helping reduce the need for manual audits and lowering transaction fees for small businesses by eliminating intermediaries such as card networks. This marks the second fiscal application of deposit tokens, following the first pilot conducted under an electric vehicle (EV) charging infrastructure subsidy program. If the pilot yields significant results, the Ministry of Economy and Finance plans to expand the program further.
According to Crunchbase, financial compliance startup Spektr has announced a $20 million Series A funding round, led by New Enterprise Associates, with participation from Northzone, Seedcamp, and PSV Tech. To date, the company has raised a total of $26 million. Spektr primarily provides AI Agent–based compliance services—including risk assessment and sanctions list monitoring—to cryptocurrency wallet service providers such as Phantom, as well as traditional financial institutions.
According to Cointelegraph, the Cato Institute—a public policy think tank based in Washington, D.C.—stated that the U.S. should eliminate capital gains taxes on cryptocurrencies such as Bitcoin to reduce taxpayers’ filing burdens and foster monetary competition. Nicholas Anthony, a researcher at the institute, noted that the current tax regime discourages the use of cryptocurrencies as a medium of exchange, since users may trigger taxable events—and increase reporting complexity—each time they use cryptocurrency to purchase goods or services. The report also suggested alternative approaches, including exempting payments for goods and services from capital gains taxation or establishing a minimum threshold for taxation.
According to Newsis, South Korea’s Ministry of Economy and Finance announced on April 16 that the pilot project titled “Blockchain-Based Digital Currency for Treasury Fund Disbursement” has been selected as one of the targeted regulatory sandbox initiatives for 2026. Under this pilot, government agencies’ operational expense disbursements—currently made via government procurement cards—will instead be issued and paid using blockchain-based deposit tokens. The South Korean government stated that this initiative is expected to enhance fund usage transparency by predefining permissible usage timeframes and eligible industries, while also reducing transaction fees for small merchants through a disintermediated payment structure. The pilot is scheduled to officially launch in the fourth quarter of this year, initially in Sejong City, with gradual expansion to other regions thereafter.
Odaily News Ripple announced a partnership with South Korea's major insurance institution, Kyobo Life Insurance, to explore government bond tokenization settlement based on the Ripple Custody platform. The goal is to compress the T+2 settlement cycle for South Korean government bonds to near real-time execution. Both parties stated that they will focus on evaluating the technical and regulatory feasibility of tokenized government bond settlement. Specific transaction scale, launch timeline, and bond types involved have not been disclosed yet, and the overall initiative is still in the pilot exploration phase. Additionally, Kyobo Life will also explore stablecoin-based payment solutions, but specific currencies and implementation timelines have not been clarified. (CoinDesk)
Odaily News As the U.S. midterm elections approach, the White House is accelerating efforts to promote a crypto market structure bill to ease the long-standing disputes between the banking industry and the crypto sector.Reports indicate that multiple parties, including Treasury Secretary Scott Bessent, White House crypto advisor Patrick Witt, and related policy figures, have recently publicly called for advancing this bill. The U.S. Council of Economic Advisers has also released a report addressing the banking industry's concerns about the crypto sector.Analysts suggest that, based on the timing, the current period may be a critical window for promoting relevant legislation, but uncertainty remains regarding whether the bill can be smoothly passed. (The Hill)
According to CoinDesk, UK-based asset manager Legal & General Asset Management has tokenized over £50 billion in liquid funds via Calastone’s tokenized distribution network. The firm now offers money market funds on this network in the form of tokenized shares, supporting USD, EUR, and GBP, with capabilities spanning issuance, trading, and same-day settlement. Investors can purchase, hold, and transfer these tokenized shares within a permissioned, regulated network. The relevant funds will be deployed on Ethereum and compatible blockchains, with plans to expand to additional networks in the future.