The White House supports the Digital Asset Market Transparency Act

Iran pays “Hormuz tolls” using Bitcoin! A fully loaded oil tanker trip costs $2 million

Reports say that Iran plans, during a U.S.-Iran ceasefire period, to require tankers transiting the Strait of Hormuz to pay a toll of $1 per barrel in Bitcoin and cryptocurrencies. The cost for a single trip could reach $2 million. A fully loaded tanker must declare its cargo and make payment with cryptocurrency, while also ensuring the transaction is not tracked. The move is intended to evade the risk of sanctions from the traditional financial system.

France Advances Law Mandating Self Custody Funds' Disclosure

The French National Assembly passed a bill requiring users to disclose self-hosted wallets with over €5,000, despite DGFIP's inability to verify data. Critics warn this may increase cybersecurity risks for users.

Implement the Genius Act! The U.S. will regulate stablecoin issuers and require the ability to “freeze transactions” for anti-money laundering purposes.

The U.S. Department of the Treasury classifies stablecoin issuers as financial institutions, requiring them to comply with anti–money laundering regulations, and designates U.S. residents with no criminal record as compliance officers. The new rules give issuers the authority to freeze transactions, emphasizing protecting the financial system and promoting technological development. However, regulatory pressure and political wrangling still exist, and the outlook for the market remains to be seen.

FUD Report: Taiwan’s special law passing—USDT withdrawals will be banned! Crypto City walks you through debunking each and every panic claim

A netizen on Threads claimed that Taiwan’s special law would ban USDT trading, saying it’s actually fear-based marketing. Experts emphasized that the draft permits overseas stablecoin transactions, and urged people to choose legitimate exchanges to avoid scams and risks. The government will legally penalize unregistered underground coin dealers, and the public should stay rational and not believe online rumors.

Implement the Genius Act! The U.S. will regulate stablecoin issuers and require the ability to freeze transactions for “anti–money laundering” purposes

The U.S. Department of the Treasury classifies stablecoin issuers as financial institutions, requiring them to comply with anti-money-laundering regulations and designating U.S. residents with no criminal record as compliance officers. The new requirements give issuers the authority to freeze transactions, emphasizing the protection of the financial system and the promotion of technological development. However, regulatory pressure and political leverage still exist, and the outlook for the market remains to be seen.

Hong Kong Monetary Authority: Will continue to communicate with institutions that have not yet been granted stablecoin licenses in the first batch, and is open but cautious about issuing additional licenses

Gate News message, on April 10, the Hong Kong Monetary Authority said it would maintain communication and engagement with the first batch of applicants that did not receive a license, as well as other institutions that apply in the future, to review these applications under uniform regulatory standards and requirements. Regarding the later issuance of stablecoin licenses and the timeline, the Monetary Authority has an open yet cautious attitude, and at this stage there is no clear inclination.