Regulation & Policy

Gate News: On April 7, Paul Atkins, Chair of the U.S. Securities and Exchange Commission (SEC), said at the Vanderbilt University Digital Assets Summit that the SEC’s proposed crypto “safe harbor” framework has been submitted to the Information and Regulatory Affairs Office (OIRA) for review under the Office of Management and Budget, and that only one final step remains before it is formally released. The proposal includes a “start-up exemption” provision, allowing crypto projects to raise a certain amount of funding within a four-year period, while requiring specific disclosures to protect investors. Atkins also revealed that the SEC is moving forward with an “innovation exemption” mechanism, which would create a regulatory sandbox for on-chain assets, but the initiative has sparked controversy between crypto advocates and traditional financial institutions. Atkins emphasized that related legislation still needs to be advanced to ensure the regulatory framework has staying power across administrations.

An appeals court ruled Monday that New Jersey could not temporarily ban prediction market provider Kalshi, giving the platform a much-needed win against an onslaught of state enforcement actions. A Third Circuit Court of Appeals panel ruled in a 2-1 vote that the state could not bring an enforcemen

Block CEO Jack Dorsey confirmed that Apple has removed the decentralized communications app Bitchat in accordance with China’s requirements because it violates China’s Cybersecurity Law. Bitchat uses Bluetooth and a mesh network for communication and does not rely on the internet, which is why it has been widely used in protests. The app can still be used in other countries, and the global download count has exceeded 3 million.

Gate News message: On April 6, U.S. Commodity Futures Trading Commission (CFTC) Chair Mike Selig posted on the X platform that U.S. federal law clearly states that the derivatives market is regulated by the CFTC. Whether it is prediction markets related to sports, politics, or oil prices, under the federal regulatory framework the CFTC has clear jurisdiction to regulate these markets, and it is obligated to uphold the relevant regulations.

This week, major prediction market platforms Polymarket and Kalshi faced significant backlash, highlighting the divide between regulatory approval and public acceptance. Polymarket withdrew controversial betting markets after public outcry, while Kalshi's contract offerings were banned in Nevada, stressing the industry's legitimacy challenges.

The Korea Financial Services Commission requires all cryptocurrency exchanges to set up a system to verify assets every 5 minutes, and to complete it by the end of May. It found that some exchanges’ verification frequency is insufficient and that there are defects in their trading circuit breaker mechanisms; all exchanges are required to publish their asset balances and submit to audits. The regulatory measures stem from an operational mistake at an exchange in February.

Apple removed Bitchat, a decentralized messaging app by Jack Dorsey, from its China App Store at China's request, citing regulatory violations. Despite this, the app remains available globally and has seen over three million downloads.

Russia's State Duma has introduced three bills to regulate cryptocurrency transactions, allowing limited access for non-qualified investors. The legislation mandates tax reporting and penalties for illegal use, aiming to create a structured digital asset market while predicting closures of non-compliant exchanges.

Figure co-founder Mike Cagney recently received a 1099-MISC tax form from a certain CEX Custody showing last year’s income of $1,600, but the account’s assets are only $10. He is dissatisfied with the customer service’s runaround and criticized the exchange for blocking the passage of the CLARITY Act, arguing that the industry no longer needs to care about his views.

Bitchat, a decentralized peer-to-peer messaging app developed by Block CEO Jack Dorsey, has been removed from Apple’s App Store in China for allegedly violating its internet service regulations.  In an X post on Sunday, Dorsey shared a screenshot from Apple’s app review team informing him that Bitc

Last year, Japan moved to widen the reach of its crypto travel rule regime, signaling that the country’s regulatory focus is shifting further toward compliance, transaction traceability, and cross-border surveillance. Key Takeaways: On April 25, 2025, Japan FSA added 30 jurisdictions to its crypt

Polymarket removed a betting market on U.S. military rescues in Iran after backlash from lawmakers, who criticized it for trivializing such efforts. This reflects growing scrutiny and regulation of prediction markets amid concerns over ethics and integrity.

A prediction platform was taken down for violating rules after it posted a prediction market about missing American pilots, sparking controversy. The market showed that most users believed the pilots would not be rescued in the short term. Congressman Moulton criticized the transaction as disgusting, questioned the transparency of the rules, and expressed concern about insider trading, calling for stronger regulation.

A state judge in Nevada extended a temporary ban on prediction market provider Kalshi's sports-related contracts in the Silver State on Friday. Judge Jason Woodbury in the First Judicial District Court told attorneys at a hearing in the Carson City courthouse that he would also grant the Nevada

The Central Coordinating Group for Anti-Corruption recently launched the "Tianwang 2026" campaign, covering four special tasks. The effort aims to pursue fugitives and recover stolen assets, crack down on overseas official-duty crimes, and curb the transfer of stolen funds through offshore companies, while strengthening outbound travel oversight for public officials.

Gate News message, April 5, the prediction market platform Polymarket has taken down a betting page related to a U.S. military rescue operation. Local time on Friday, a U.S. F-15E fighter jet was shot down by Iran, one crew member has been rescued, and the other remains missing and falling. The page previously allowed users to bet on which day the U.S. side would confirm that the two pilots had been rescued.

Cambodia's parliament passed legislation targeting compounds used to defraud victims through scams, including those involving cryptocurrency. In a Friday notice, the Senate of the Kingdom of Cambodia announced that the chamber had unanimously approved the draft law with no amendment, with 58