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.

Chan Mo-po: Hong Kong's stablecoin licenses to be issued in early March, digital asset bill to be submitted within the year

Hong Kong SAR Financial Secretary Paul Chan Mo-po announced in the 2026 Budget Speech on February 25 that Hong Kong has officially implemented a licensing regime for fiat-backed stablecoin issuers, with the first licenses to be issued in March. Paul Chan also stated that the government will submit a draft digital asset policy bill within the year to establish a comprehensive licensing and regulatory framework for digital asset trading and custody service providers, further solidifying Hong Kong's leadership position in the global digital asset regulatory system.

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.

Korean crypto investment loss dispute escalates: Man involved in poisoning case shocks the market, $810,000 Bitcoin loss becomes the catalyst

February 25 News, a criminal case in South Korea related to losses from cryptocurrency investments has sparked widespread social discussion. A man in his 30s was indicted by prosecutors for allegedly adding insecticide to coffee to kill a spider after a fierce dispute with a business partner over more than $816,000 in crypto investment losses. The victim was poisoned and fell into a coma. He is currently facing charges of attempted murder and violations of the Agricultural Chemicals Control Act. According to South Korean media reports, the incident occurred in November 2025 at a coffee shop. The victim suddenly lost consciousness and collapsed after drinking the beverage, and was rushed to the hospital. He regained consciousness three days later. The victim stated that this incident has caused serious impact on his family. Although his physical condition is gradually recovering, he still needs ongoing medical examinations.

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.

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.

DSRV and SBI Ripple Asia are researching Korean-Japanese blockchain payment infrastructure

DSRV and SBI Ripple Asia have launched a joint research initiative to develop a new blockchain payment infrastructure between South Korea and Japan, aiming to modernize remittances and cross-border payments using XRP Ledger. This project seeks to enhance transaction speed, reduce fees, and ensure compliance with existing financial systems while considering legal frameworks in both countries. If successful, it could set a precedent for large-scale international payment corridors.