The Trump administration is considering requiring banks to collect customer citizenship information.

Will the cap on UK stablecoins impact its status as a financial hub? Brian Armstrong warns that tightening regulations and soaring profits may create a hedge.

On February 25th, the CEO of the United States' largest compliant CEX, Brian Armstrong, publicly opposed the Bank of England's proposed stablecoin holding limit policy, stating that the related rules could weaken the UK's competitiveness in the global digital asset and stablecoin markets and suppress the development of the crypto innovation ecosystem. He expressed on social media that if current regulatory directions restrict the size and application scenarios of stablecoins, it could lead to capital and blockchain enterprises migrating to more friendly jurisdictions. According to the proposed framework, the Bank of England plans to set a limit of approximately £20,000 for individual stablecoin holdings, impose higher limits for enterprises, and require 40% of reserves to be held in non-interest-bearing central bank accounts. Some industry insiders interpret this design as a direct constraint on stablecoin liquidity and yield models, potentially affecting core applications such as stablecoin payments, tokenized assets, and on-chain settlements. Several UK lawmakers also warned that excessive restrictions could weaken fintech innovation and reduce institutional participation.

Paul Chan: Digital assets will be classified as eligible investments for tax concessions starting from the 2025/2026 tax year

Hong Kong Financial Secretary Paul Chan announced in the budget that the tax system will be optimized to attract family offices and funds, with digital assets enjoying tax concessions, expected to take effect in 2025/2026. At the same time, a crypto asset reporting framework will be implemented to promote tax transparency, with plans to issue tokenized bonds and establish a digital asset platform.

Paul Chan: The first stablecoin issuer licenses will be issued in March, and a draft of the digital asset policy ordinance will be submitted within the year.

Hong Kong Financial Secretary Paul Chan Mo-po revealed in the 2026 Financial Budget that the government will submit a draft digital asset policy regulation to establish a licensing system to regulate digital asset trading and custody services. At the same time, the Securities and Futures Commission will safeguard investors' rights, promote market liquidity, and foster innovation.

Cryptocurrency ATM Regulation Upgrades: Bitcoin Depot Mandates Identity Verification for Each Transaction, US Anti-Fraud and KYC Compliance Tighten Across the Board

February 25 News, U.S. cryptocurrency ATM operator Bitcoin Depot announced that it will implement phased new regulations across its U.S. network starting in early February 2026, requiring users to provide identification for every cryptocurrency ATM transaction to strengthen anti-fraud monitoring and compliance review. This move is seen as an important upgrade in risk control and identity verification mechanisms in the crypto ATM industry amid tightening regulatory environments in the United States. Bitcoin Depot CEO Scott Buchanan stated that continuous identity verification processes can identify suspicious behavior based on user identity, transaction location, and amount before transaction approval, thereby reducing risks of account sharing, identity theft, and scams. The company previously implemented identity verification requirements for new users in October 2025, and this policy has now been expanded to all transaction scenarios, meaning the standards for real-name verification at crypto ATMs are further tightening.

Putin personally signs new law! Authorizes Russian courts to confiscate Bitcoin and other cryptocurrencies "during investigations"

Russian President Putin has signed a new law defining cryptocurrencies as "intangible property," granting courts the authority to confiscate them during criminal investigations. Experts warn that Russia may block overseas cryptocurrency exchanges to keep the $15 billion in annual fees domestic, demonstrating a dual-track policy towards the crypto market: both legalization and strict regulation.

New Game in U.S. Cryptocurrency Taxation: Blockchain Association Proposes Tax Exemption for Stablecoins and Small Transactions, Warren Strongly Opposes

February 25 News, the leading cryptocurrency industry lobbying organization, the Blockchain Association, has submitted a cryptocurrency tax reform proposal to Congress and met with House members in an attempt to influence the development of crypto tax laws in 2026. The proposal focuses on key issues such as stablecoin tax treatment, tax exemption thresholds for small crypto transactions, and rules for the wash sale of digital assets. According to the policy document released by the Blockchain Association, it advocates treating stablecoins as cash for everyday payment scenarios to reduce the tax complexity of daily transactions. At the same time, the association suggests establishing a minimum exemption for "small" crypto transactions, arguing that reporting tiny gains or losses on each transaction increases taxpayers' costs and adds to the administrative burden on U.S. tax authorities, with limited actual tax revenue contribution.