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A lot happened in policy tied to crypto this year. Congress passed — and the president signed — the first major piece of crypto legislation in U.S. history this year. Federal regulators have dramatically scaled back their enforcement actions against crypto companies while announcing more rulemaking efforts aimed at bolstering the industry. Companies themselves have felt more emboldened to launch new products and services in the U.S.

Looking back at #2025
The #narrative
Last year, CoinDesk's policy team explained what we'd be looking for in 2025. Here's how we did.

Why it #Matter 's
This is the final edition of this newsletter for 2025. A lot happened, and clearly we'll all be busy well into 2026.

#BREAKING it down
On Dec. 31, 2024, I wrote that, "it seems pretty likely the agency may shift how it approaches future lawsuits against crypto industry participants. Less clear is how the agency might handle its ongoing cases against companies like Coinbase, Binance, Binance.US, Kraken and others. No attorney seems to think the SEC will outright dismiss these cases."
The SEC has dismissed the vast majority of the cases it pursued last year.
Other court cases largely played out as expected; Sam Bankman-Fried's appeal is ongoing, Roman Storm's case ended in a partial conviction with post-trial motions still ongoing, Do Kwon pleaded guilty to some charges and there are still a small number of active cases we're tracking.
Jesse Hamilton noted that while Congress would work on legislation, "Bottom line: Post-election excitement often settles into a why-is-this-taking-so-long vibe."
While the GENIUS Act addressing stablecoins became law — confirming Cheyenne Ligon's analysis as well — the continuing negotiations over the more important market structure bill bears Jesse's analysis out.
The regulatory world has gotten vastly more complex as far as digital assets go, in the sense that an increasing number of nations are advancing their approaches toward digital assets. That ranges from rulemakings in the U.S. to new licenses being issued in the Middle East to Russia's evolving approach toward digital assets.

Source: Binance News / Bitdegree / #CoinDesk / Coinmarketcap / Cointelegraph / Decrypt

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$BTC

The week is off to a positive start with bitcoin (BTC) up more than 1% at $89,800, approaching the upper end of the recent week-long range play between $85,000 and $90,000. Overhead supply between $92,000 and $95,000 remains a key hurdle to beat for the bulls, according to BRN.

This week’s U.S. economic calendar is light but relevant, with third-quarter U.S. gross domestic product (GDP) and consumer confidence reports on Tuesday, followed by jobless claims on Wednesday.

These figures could influence investors' risk sentiment, although year-end holidays could keep market liquidity thin, leading to erratic price moves. On Friday, BTC and ETH options worth $27 billion are set to expire on Deribit, with positioning leaning bullish ahead of the event.

Some analysts remain cautious despite the price bounce.

"The short-term positive momentum may be misleading, and the broader picture of disappointment compared to hopes at the start of the year should not be overlooked," Alex Kuptsikevich, chief market analyst at the FxPro said in an email.

"Bitcoin is 30% below its peak and trading at a level lower than it was at the beginning of 2025. Attempts to bring YTD momentum to zero are little consolation in this context," he added. The largest cryptocurrency started the year around $93,400, CoinDesk data show.

In the broader market, tokens like HYPE, KAS, SKY and NIGHT have gained 4% to 6% in 24 hours while major altcoins such as XRP, ETH, and SOL are trading mixed. The CoinDesk 20 and CoinDesk 80 indexes are little changed.

Uniswap's UNI token is down over 1% as voting starts on a proposal to activate the protocol fee switch and turn the token into a value-accruing instrument. Voting has been overwhelming in support of the protocol.

In traditional markets, gold hit a record high $4,420 as longer dated bond yields in Japan continued to rise, highlighting fiscal concerns. The dollar index fell back slightly to $98.48, erasing Friday's gain. Stay alert!

Source: Binance News / Bitdegree / #CoinDesk / Coinmarketcap / Cointelegraph / Decrypt

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#Daybook #bitcoin

Two observations, two predictions and reader favorite quotes from 2025

Observation 1: The crypto market's attention span is 3 months
Crypto market performance seems to have a quarterly cadence. 2024: strong Q1, sideways Spring/Summer, strong Q4 (bookended by Sept 18 and Dec 18 Fed meetings). 2025 was similar, but shuffled: weak Q1, powerful rally in Q2 and Q3, heartbreak drawdown in Q4. Three months for a surge (or sag) to run its course feels aligned with our Trend Indicators' performance over the past two years, curbing volatility and helping to navigate the seasons.

Observation 2: Bitcoin's return properties are becoming more equity-like
In 2025, the relationship between bitcoin's price and its volatility continued to more closely resemble equities. Volatility and price moved inversely, and vol remained very low during bitcoin's two ATH events in the Summer. More pronounced "put skew" in options prices suggests that ETF and DAT option behavior is having a greater influence. The era of bitcoin's price-up + vol-up "meltups" may be over.

Bitcoin price (gold) and volatility (grey) – used to move together, now move opposite
Source: CoinDesk Indices

Prediction 1: Bitcoin will remain important, but increasingly distant from other digital assets.
"There's bitcoin, and there's everything else," is a talking point I heard more and more in 2025. Bitcoin's advantages — narrative head start, clean story (scarce, portable, valuable), liquid US markets — will keep it front and center. But the "slow money" building blockchain infrastructure is happening elsewhere: stablecoins, tokenization and DeFi. As we saw throughout 2025, M&A continued (Coinbase/Echo, Ripple/Hidden Road), regulation advanced (SEC generic listing standards), and integration accelerated (JPMorgan accepting BTC/ETH as collateral). Narratives will diverge, and broader indices like CoinDesk 20 will emerge as the relevant asset class reference. We will see if lower correlations follow.

Prediction 2: Investors will demand clearer connection between blockchain growth and token value.
Traders got more to play with in 2025, with a bounty of new ETFs and DATs listed in U.S. markets. The prospect of large-scale and regulated prediction markets and tokenized equities will make markets even richer. However, as investors and advisors look to make more serious long-term allocations to digital assets, they will demand a more cogent investment framework. Why should ETH go up just because there are more stablecoins and tokenized assets?  And so forth.  (The one exception is, of course, bitcoin, whose investment thesis is clear: a scarce asset with store-of-value properties.)

For 2025's final Vibe Check, here are a dozen quotes that folks told me they enjoyed:

"Out with the old bold, in with the bold old. Mass adoption, retirement fund style." (January 5)
On reversing a bishop's New Year's message: retirement funds as the next frontier for crypto adoption. "Imagine if some of those newly-minted 65-year-olds were able to stow some bitcoin (or some CoinDesk 20) in their plan for 10 years. It could only be life-changing in a good way."

"Bitcoin, still in its adolescence... there are things I don't expect or enlist my teenage children to do." (April 13)
On why bitcoin shouldn't be expected to function as a mature safe-haven asset during extreme volatility.

"You can't just say, 'Strategy.' You have to say, 'Strategy; you know, it used to be Microstrategy.' Like Prince, Puff Daddy, Kanye West and Twitter." (May 4)
On the name change confusion and having to suppress the eye-roll reflexes that MSTR triggers.

"Wall Street is a giant 'selling machine.' Once you get that, everything falls into place." (May 18, Consensus)
Anthony Scaramucci's key quote from the panel discussion on whether crypto had reached "asset class" status.

"Saylor's formula appears to be: 1/CFA." (June 1)
On Michael Saylor reprogramming followers away from diversification and volatility management — the inverse of CFA principles.

"This wasn't the usual opening bell tea ceremony." (June 8, Circle IPO)
Describing the NYSE floor celebration for Circle's listing: "It didn't have the vibe of MSTR rapture or youthful DeFi exuberance. It felt mature and financial — adults celebrating."

"Good bananas or bad bananas?" (July 13)
On a quant analyst asking for clarification: "You will occasionally say something is 'bananas.' Sometimes it's very good, sometimes very bad. I don't always know which way to interpret the event." From that day forward, the team made sure to clarify.

"Another long sideways Summer of choppy bitcoin and saggy alts?" (July 13)
Describing the pre-breakout doldrums before the July rally.

"Five days, five European cities. Planes, trains, automobiles and one funicular. Suits, ties and good shoes worn without irony or costumery. Demitasse after demitasse of strong coffee with a chocolate placed beside." (October 5, "The hills are alive")
Opening description of a 20-meeting, 100 investor European roadshow that was fortunately postponed six months when my appendix let go hours before the flight over.

"My YouTube feed showed Moses the Jeweler taking an iced-out AP to the melter, harvesting the gold. If that's not a top, what is?" (October 26)
After gold fell 5.7% from its peak, the largest one-day drop in over 10 years.

"There is some irony that the U.S. government did more to depress crypto prices by being shut than by being open" (November 16)
Reflecting on the government shutdown's market impact.

"Market volatility, while anxiogenic, can also be exhilarating." (November 23)
On a conversation with Hyperion Decimus's Chris Sullivan about derivatives trading psychology during bitcoin's 1/3 drawdown in seven weeks.

Source: Binance News / Bitdegree / #CoinDesk / Coinmarketcap / Cointelegraph / Decrypt

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#Year #End #vibes $BTC $ETH

Over the past six months, the U.S. Department of Justice has announced a series of massive cryptocurrency seizures. Most notably, in October federal prosecutors seized approximately $15 billion worth of bitcoin, more than three times the value of the assets that the Department recovered in connection with the Bernie Madoff fraud. And the DOJ’s aggressive pursuit of crypto seizures shows little sign of slowing. Just last month, the Department announced the creation of a “Scam Center Strike Force” to target what the government termed a “growing epidemic” of cryptocurrency-related fraud schemes costing Americans nearly $10 billion each year. Already, prosecutors in the Strike Force have seized over $400 million in crypto.

What are the implications of this law enforcement trend for the digital asset industry?  Based on my prior experience serving for over a decade as a federal prosecutor in the Southern District of New York, as well as my current role representing companies and individuals in the industry, I see four major takeaways.

First, the DOJ’s heightened focus on crypto seizures increases the odds that innocent users will see their coins wrongly caught in the dragnet. Many crypto seizures are obtained based on inferences that government investigators draw from public blockchains and other transaction records. Here is an illustration of this sort of analysis excerpted from one of the Strike Force’s court filings, showing the alleged transfer of fraud proceeds through numerous wallets:

But investigators are often working with incomplete information and under time pressure, and this can result in mistakes about whether particular transactions reflect money laundering or perfectly legal activity. That is unfortunate, because while potential paths exist to remedy an improper crypto seizure, the recovery process can be expensive, time-consuming and stressful.

Second, this enforcement trend drives home the need for safeguards to avoid transactions with potential bad actors. According to a recent report from the FBI Internet Crime Complaint Center (also called “IC3”), the number of crypto transactions involving alleged fraud appears to be increasing exponentially:

Fortunately, there are a variety of commercially available compliance tools to help reduce the risk of inadvertently receiving tainted crypto assets, and the DOJ’s enforcement push has significantly shifted the cost-benefit analysis toward investing in such tools.

Third, digital asset businesses may be able to address some of their legal risks by establishing ongoing cooperative relationships with the DOJ and other law enforcement agencies. Indeed, in announcing the Scam Center Strike Force, the DOJ “specifically called on U.S. corporations to partner in the initiative,” stating that the “Strike Force will collaborate with U.S. companies to sever access to the scam centers, and prevent U.S. infrastructure from being weaponized against American citizens.” However, companies must also be mindful of their users’ privacy, and should consult counsel as they seek to determine what information they voluntarily share with law enforcement.

Fourth, the digital asset industry should be encouraged by the DOJ’s articulated law enforcement strategy of rooting out illegal conduct that victimizes honest crypto holders and businesses, while avoiding a “regulation by enforcement” agenda. Of course, allegations of wrongdoing in any particular case may be misplaced, and judges and juries may ultimately reject the Department’s claims when they see the actual evidence.

In sum, the DOJ’s new focus on crypto seizures presents both risks and opportunities.  Digital asset companies and users should reevaluate and redouble their investments in compliance and risk-mitigation software, take advantage of opportunities to build relationships with law enforcement agencies where appropriate and be reassured that this latest enforcement push appears aimed at only alleged bad actors rather than the industry as a whole.

Source: Binance News / Bitdegree / #CoinDesk / Coinmarketcap / Cointelegraph / Decrypt

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#DOJ #crypto #industry $BTC

There were no markup hearings this past week on market structure legislation. Lawmakers are still holding their firm positions close to the vest. The question is changing from "will we get a market structure law this year" to "will Congress have enough time to push this bill across the finish line?"

Further slippage

The #narrative
The Senate Banking Committee revealed this week that it would not be holding a markup hearing on its draft market structure legislation, confirming what many had suspected — that lawmakers just did not have enough time to get this bill over the finish line this year.

Why it #Matter 's
The market structure bill slipping further to 2026 makes it that much more likely it just might not pass at all. For it to become law, lawmakers will need to hit the ground running after the holiday break and try to get through the entire process before they take off for the 2026 midterm election. During that time, they'll need to navigate another potential government shutdown, the complication that the market structure bill has two parts coming from two different committees and deal with the fact that the various sides are further entrenching themselves, according to multiple individuals tracking the process.

#BREAKING it down
The Senate Banking Committee hoped to hold a hearing of some sort — if not an actual markup — by the end of last week, but this past Monday Chairman Tim Scott's office put out a statement confirming this wouldn't happen and saying he was looking forward to further collaboration in 2026.
"From the outset, Chairman Scott has been clear that this effort should be bipartisan," a spokesperson for the committee said in a statement. "He has consistently and patiently engaged in good-faith discussions to produce a strong bipartisan product that provides clarity for the digital asset industry and also makes America the crypto capital of the world. The Committee is continuing to negotiate and looks forward to a markup in early 2026."
There are a few major sticking points, as described to CoinDesk by four individuals who are following the process: how decentralized finance (DeFi) might be defined and regulated; how stablecoin yield should be treated; whether major regulatory agencies like the Securities and Exchange Commission or Commodity Futures Trading Commission will be staffed by a bipartisan slate of commissioners; and whether lawmakers can bind President Donald Trump to any sort of ethics agreement. These aren't just political issues for lawmakers alone to hash out; some of them, like how DeFi is regulated, have technical ramifications for parts of the broader crypto industry, and a poor definition of "decentralization" could be difficult to amend in a future law.
These also aren't new issues. As CoinDesk has reported, repeatedly, these points have been at the crux of negotiations for months, though lawmakers had tried to get to a place where they could hold a crucial markup hearing before Congress breaks for the holidays. A markup is a formal hearing in which lawmakers offer amendments to tweak legislation before voting on whether to advance it to the rest of the chamber for a wider vote.
That being off the table may end up as a blessing in disguise, two of the individuals said. Holding a markup would leave the bill text open to attacks from its opponents over the coming weeks, or force a more partisan bill than could survive the overall Senate.
"It's better that there was no markup, because there just wasn't enough time, given the shutdown and other factors, to get both sides to a compromise where the markup would have been bipartisan," one of the individuals said. "If a markup were to have happened this year, I believe it would have almost certainly have been along party lines, which would have really hurt the potential of the bill getting enough support on the floor."
It's clear there is an appetite for bipartisan cooperation on this legislation. The House has already voted through its own market structure bill with an overwhelming bipartisan majority, though the Senate largely ignored that bill's existence and has spent the past five months cobbling together its own version — albeit with a substantial echo from the House's Digital Asset Market Clarity Act.

Decentralized finance
Though the crypto industry is pushing for very limited DeFi regulations in the bill, this isn't a realistic outcome, two of the individuals said. Senators such as Mark Warner, who is the lead Democrat on the Senate's Intelligence Committee and has national security concerns, will want to see some sort of DeFi guardrails before they vote for the bill. Specifically, Warner wants to see anti-money laundering concerns strongly addressed.
"There are some real questions about what is the capacity of the federal government to blacklist protocols and wallets or whatever, and to sort of put a regulatory perimeter around DeFi," one of the individuals said. "We're looking at both, what do we want to do and what can we do? If there isn't something, then at the very least, you're not going to have Democratic support."
There's also concern about regulatory arbitrage from traditional finance firms, though one of the individuals said these concerns may stem more from an anticompetitive stance (in that these businesses don't want to compete with DeFi) than actual consumer protection viewpoints. Still, traditional firms are lobbying lawmakers on this legislation, and their concerns may be addressed in any ultimate bill.
Another of the individuals said the DeFi concerns may well be what blows the bill up. Though there are Democrats who want to support a crypto bill, their left flank will not want them to and will pressure the more moderate lawmakers, they said. But on the other hand, any strict regulation of DeFi would lose the bill its industry support.
"People are going to get really mad at any deal, because one side doesn't want DeFi to exist, the other side wants DeFi totally unregulated," this person said. "The middle is going to be some amount of regulation of the thing we call DeFi. To get a deal, everyone has to be somewhat unhappy."

The President's role
Trump remains a wild card as well in these negotiations. Asked during a White House event whether he would appoint Democrats to regulatory agencies like the Securities and Exchange Commission and Commodity Futures Trading Commission, which are intended to have bipartisan commissioners, he suggested the answer could be no.
"Well, do you think they would be appointing Republicans [if it] were up to them?" Trump said. "So, you know, we'll look at it. We want to be fair, but typically they're not appointing Republicans."
Democrat presidents have traditionally appointed Republicans to the SEC and CFTC  — Commissioner Hester Peirce, for example, was originally nominated by former President Barack Obama.
"There are certain areas that we do look at, and there are certain areas that we do share and share power, and I'm open to that," Trump said.
The broader issue may be Democrats' ethics concerns. Democrats have made it clear for months now that they want to impose guardrails against Trump's family ties to crypto. Though the White House maintains that there are no conflict-of-interest concerns, Sen. Cynthia Lummis, speaking at the Blockchain Association's annual summit earlier this month, said that she had been negotiating with the White House on Democrats' behalf to try and get the White House to agree to an ethics provision.
"The White House kicked it back and said, 'You can do better than this,' so it was unacceptable to the White House," she said on stage.
There will need to be some sort of compromise. While there are Democrats who want to support this bill, they will need to be able to show voters that they were able to put some sort of constraint on Trump and his family's business interests or, again, risk facing attacks from their left flank, two of the individuals said. This is an especially acute concern heading into an election and as candidates for the 2028 presidential election gear up to formally announce their bids.
One of the individuals said that if Congress can sort out the other outstanding issues, they may be able to convince the White House to support some sort of ethics provision, framing it as a chance to actually win on the bill rather than let the work slip away.

Timeline constraints
Two of the individuals said there will be a markup next month, on at least one of the drafts. What's less clear is the bill's path to the Senate floor. The Banking Committee and Agriculture Committee both need to mark up their own respective bills and then reconcile differences between the drafts. The Senate can vote on the overall bill, which would then go to the House which is likely to pass it, and then to the White House for Trump's signature.
If the bill doesn't get any sort of markup by the end of January, "I think the chances go way down" for progress on overall passage, one of the individuals said. Another of the individuals said they were hesitant to put a firm timeline on when markups could happen but said the bill needs to be through the Senate by April, or its chances of becoming law in 2026 were very slim.
Complicating matters is the fact that Congress will be focused on funding the government as it returns from the holidays; the continuing resolution which ended the last government shutdown expires on Jan. 30. If Congress does not come to an agreement on a new resolution or budget, the government risks shutting down again, which would further delay any progress on market structure legislation.
As CoinDesk's Jesse Hamilton also points out, the further into 2026 and the election Congress gets, the more likely it is that lawmakers may choose to just hold off on any legislation until they see the results of next November's poll. If Democrats win control of the House of Representatives, any bill would have to abide with their priorities.
The bill isn't dead by any means. A January markup may well happen — White House Crypto and AI Czar David Sacks said in a tweet late Thursday that Senators Scott and John Boozman "confirmed that a markup for Clarity is coming in January," though one hasn't been scheduled yet —  and a Senate floor vote would follow shortly afterward, particularly if both committees mark up at the same time.

Source: Binance News / Bitdegree / #CoinDesk / Coinmarketcap / Cointelegraph / Decrypt

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$BTC $ETH

Bitcoin (BTC) rose above $88,000 even after the Bank of Japan increased interest rates to the highest in nearly 30 years, a move that would have been expected to strengthen the yen and make the carry trade less attractive.

Instead, the currency weakened on concerns the higher rates would endanger the spending plans of Prime Minister Sanae Takaichi, who took office in October. The yield on the 10-year Japanese government bond touched 2% for the first time since 2006.

Other cryptocurrencies also advanced. Ether (ETH) added 3.4% in the last 24 hours, though major altcoins including BNB and SOL rose less than 1%. The broader CoinDesk 20 (CD20) index advanced 1.3%.

In the background is the cooler-than-expected U.S. inflation data, published yesterday. That report strengthened the chance of the Federal Reserve cutting interest rates in the future, a potential boon for risk assets, though prediction markets overwhelmingly still point to no rate cut next month.

Beyond that, risk assets still face the potential unwind of the AI trade.
“Capital is still flowing aggressively into AI infrastructure, but monetization questions are becoming harder to ignore,” analysts at QCP Capital wrote. “Major players such as Oracle and Iren are ramping up capital expenditure, while AI-related revenues remain comparatively flat.”

Risk-asset valuations could plunge if revenues fail to materialize, the analysts said. Several crypto firms are benefiting from the AI trade, especially bitcoin miners who have started pivoting into AI infrastructure in multibillion dollar deals.
Regulatory developments are also supporting market development.

“The United States is poised to solidify the GENIUS Act’s regulatory architecture in 2026,” Ira Auerbach, head of Tandem at Offchain Labs and former head of digital assets at Nasdaq, told CoinDesk. “Stablecoin issuers that once relied on offshore regimes will find meaningful advantages in bringing reserves and operations back to US soil.”

Auerbach also said that some retirement-plan providers are preparing to test target-date and balanced funds with 0.5% to 1% crypto exposure, potentially creating steady demand that is less tied to market cycles.

“It treats digital assets less as a swing factor and more as another risk component in long-horizon portfolio construction, which is how structural demand begins to take shape,” Auerbach added. Stay alert!

Source: Binance News / Bitdegree / #CoinDesk / Coinmarketcap / Cointelegraph / Decrypt

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#bitcoin #yen $BTC $ETH $BNB

Pakistan, một trong những quốc gia nhận kiều hối lớn nhất thế giới, đang cân nhắc sử dụng công nghệ blockchain để cách mạng hóa quy trình chuyển tiền từ nước ngoài về nước. Theo Bilal bin Saqib, cố vấn trưởng của Bộ trưởng Tài chính và thành viên Hội đồng Tiền điện tử Pakistan (PCC) mới thành lập, blockchain có thể là chìa khóa để giảm chi phí và tăng tốc độ giao dịch. Liệu động thái này có thể giúp Pakistan khai thác tiềm năng kinh tế khổng lồ từ cộng đồng người lao động ở nước ngoài?

Kiều Hối: Dòng Máu Kinh Tế và Thách Thức Lớn

Trong năm tài chính 2023-24, người Pakistan ở nước ngoài đã gửi về hơn 31 tỷ USD thông qua các kênh truyền thống như ngân hàng và dịch vụ chuyển tiền. Đây là nguồn lực quan trọng, không chỉ hỗ trợ gia đình mà còn đóng vai trò như tấm đệm trong các cuộc khủng hoảng kinh tế và thúc đẩy tăng trưởng bền vững. Tuy nhiên, hệ thống hiện tại chậm chạp và tốn kém, với mức phí thường vượt quá 5%. “PCC sẽ nghiên cứu các giải pháp kiều hối dựa trên blockchain để giảm chi phí và thời gian trễ,” Saqib chia sẻ trong cuộc phỏng vấn với #CoinDesk .

Blockchain, với khả năng loại bỏ trung gian như ngân hàng đối tác, có thể cắt giảm đáng kể chi phí giao dịch xuyên biên giới. Theo Tổ chức Hợp tác và Phát triển Kinh tế (OECD) năm 2020, công nghệ này giúp đơn giản hóa quy trình chuyển tiền, mang lại lợi ích rõ ràng cho các quốc gia phụ thuộc vào kiều hối như Pakistan.

PCC: Thúc Đẩy Blockchain và Web3

Hội đồng Tiền điện tử Pakistan không chỉ dừng lại ở kiều hối. Saqib cho biết PCC đang đẩy mạnh khung pháp lý rõ ràng cho blockchain và Web3, đồng thời khám phá các sáng kiến như mã hóa tài sản thực (tokenization) và thiết lập các “hộp cát quy định” (regulatory sandboxes). Tất cả đều tuân thủ tiêu chuẩn của Lực lượng Đặc nhiệm Tài chính (FATF), tổ chức đã đưa Pakistan ra khỏi danh sách xám vào năm 2022.

Ngoài ra, PCC dự kiến đầu tư vào giáo dục blockchain, chương trình nâng cao kỹ năng và phát triển Web3 để tận dụng lực lượng lao động trẻ – hơn 60% dân số 240 triệu người của Pakistan dưới 30 tuổi. “Thanh niên hiểu biết công nghệ của chúng tôi sẵn sàng dẫn dắt sự đổi mới blockchain,” Saqib nhấn mạnh. Đây là cơ hội để tạo việc làm và thúc đẩy kinh tế trong bối cảnh lạm phát và biến động tỷ giá ngoại hối đang đe dọa đất nước.


Thực Tế Crypto Tại Pakistan: Nhu Cầu Cao, Quy Định Lỏng

Dù Ngân hàng Nhà nước Pakistan (#SBP ) cấm giao dịch tiền điện tử và stablecoin từ năm 2018, quốc gia này vẫn lọt top 5 châu Á trong Chỉ số Chấp nhận Tiền điện tử Toàn cầu 2024 của Chainalysis. Người dân đang sử dụng tài sản số để bảo vệ tài sản trước lạm phát và bất ổn kinh tế, bất chấp khoảng trống pháp lý. “Nhu cầu rõ ràng rất lớn,” Saqib nói. “PCC muốn khai thác tiềm năng chưa được khai phá này bằng một khung pháp lý tiến bộ.”

Tuy nhiên, ông cũng cảnh báo về rủi ro dòng tiền crypto bất hợp pháp. “Không có quy định, tiền điện tử có thể tạo điều kiện cho các giao dịch xuyên biên giới không theo dõi được, làm trầm trọng thêm tình trạng thiếu USD.” PCC đặt mục tiêu xây dựng hệ thống minh bạch với các yêu cầu KYC (xác minh danh tính) và AML (chống rửa tiền) nghiêm ngặt.

Dự Trữ Bitcoin: Bài Học Từ Mỹ Có Phù Hợp?

Gần đây, Tổng thống Mỹ Donald Trump công bố kế hoạch lập kho dự trữ Bitcoin chiến lược từ các tài sản bị tịch thu. Saqib tỏ ra thận trọng khi áp dụng mô hình này cho Pakistan. “Dù ý tưởng hấp dẫn, việc thực thi crypto tại Pakistan còn non trẻ, và tài sản bất hợp pháp hiếm khi bị thu giữ ở quy mô lớn,” ông nói. Bất kỳ động thái nào hướng tới kho dự trữ sẽ cần thảo luận kỹ với IMF và FATF để không ảnh hưởng đến vị thế quốc tế của Pakistan sau khi thoát danh sách xám.

Góc Nhìn Trader: Cơ Hội Từ Binance

Dù crypto bị cấm tại Pakistan, trader nội địa thường giao dịch trên các sàn quốc tế như Binance. Nếu blockchain được áp dụng cho kiều hối, nhu cầu stablecoin (như USDT) và Bitcoin có thể tăng, gián tiếp thúc đẩy thanh khoản trên Binance. Người dùng Binance tại khu vực Nam Á nên theo dõi sát sao, vì giá $BTC có thể hưởng lợi từ xu hướng này trong dài hạn.

Kết Luận: Tương Lai Đầy Hứa Hẹn Nhưng Cẩn Trọng

Kế hoạch khám phá blockchain cho kiều hối của Pakistan là một bước đi đầy tham vọng, hứa hẹn giảm chi phí và tăng hiệu quả cho dòng tiền 31 tỷ USD mỗi năm. Tuy nhiên, thành công phụ thuộc vào việc cân bằng giữa đổi mới và tuân thủ quốc tế. Với người dùng Binance, đây là tín hiệu tích cực cho thị trường crypto Nam Á, nhưng cần kiên nhẫn chờ khung pháp lý rõ ràng.


Cảnh báo rủi ro: Đầu tư tiền điện tử tiềm ẩn rủi ro cao do biến động giá và bất ổn pháp lý. Hãy chỉ đầu tư số tiền bạn sẵn sàng mất và nghiên cứu kỹ trước khi tham gia.

Pakistan is embarking on a transformative journey to integrate cryptocurrency and blockchain technology into its national economic framework. This initiative is spearheaded by the newly established Pakistan Crypto Council (PCC), led by Chief Advisor to the Finance Minister, Bilal Bin Saqib.Bitcoin $BTC
agazine+14CoinDesk+14Reddit+14

A cornerstone of this strategy is the creation of a national Bitcoin reserve, inspired by similar moves in the United States. The reserve will consist of Bitcoin holdings from criminal and civil forfeitures, with a policy of long-term retention rather than speculative trading. This approach aims to establish Bitcoin as a strategic asset within Pakistan's financial system.

To support this digital infrastructure, Pakistan has allocated 2,000 megawatts of electricity for Bitcoin mining and artificial intelligence data centers. This move addresses the country's surplus electricity capacity and is expected to attract foreign investment, create high-tech employment opportunities, and foster economic growth. Reuters

The PCC is also working towards formalizing cryptocurrency regulations to provide a clear legal framework for digital assets. This includes exploring blockchain-based solutions for remittances, which could streamline the process and reduce costs for the significant Pakistani diaspora. Business Recorder+7The Express Tribune+7Profit by Pakistan Today+7CoinDesk

With over 60% of its population under the age of 30, Pakistan is positioning itself to become a hub for blockchain and Web3 innovation. The government's proactive stance on cryptocurrency and blockchain technology reflects a commitment to embracing digital transformation and fostering a more inclusive financial ecosystem.#CoinDesk

Ripple’s XRP has climbed back above $3.50 for the first time in several weeks, trading at approximately $3.55 as of this morning, with a 24-hour volume of nearly $17.1 billion . That surge represents an 11 % gain in the last day and over 36 % for the week, signaling renewed conviction among both retail and institutional players.
#coindesk

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Whales Are Quietly Accumulating

On-chain data shows that large XRP addresses have withdrawn significant balances from exchanges over the past 48 hours. When supply is moving off-platform, it often means traders intend to hold rather than flip for a quick profit. This pattern mirrors the behavior seen during Ripple’s March announcement as part of the U.S. strategic crypto reserve—only now, it’s happening without fanfare, suggesting seasoned investors are positioning ahead of any regulatory news.

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ETFs, Renewed Optimism, and Court Clarity

The optimism isn’t isolated. Spot ETF flows into XRP­-related products have ticked up modestly following September’s court ruling, which clarified aspects of XRP’s status under U.S. securities law. While no new ETF launched this week, traders are front-running what they believe could be the next approval—especially if the Clarity Act gains traction in Washington.

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Community Buzz and FOMO

Scroll through social channels, and you’ll see threads like “XRP back on track” and “Did you miss this run?” Fresh “I bought the dip” posts abound, with newcomers urging each other to “hold for the next leg.” That grassroots buzz, combined with volume spikes, creates a self-reinforcing cycle: more buyers drive price, and higher price attracts more chatter.

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What Comes Next

Support zone: Watch whether XRP can stay above $3.40—holding here would confirm the recent breakout.

Volume trend: Sustained 24-hour volumes above $15 billion indicate genuine interest; a drop below $10 billion could suggest a quick cooldown.

Regulatory signals: Any news on stablecoin or token clarity bills in Congress might accelerate the next move.

Through the lens of today’s activity, XRP’s latest rally feels less like a random pump and more like a coordinated pre-positioning ahead of expected catalysts. Whether this momentum holds or peters out will revea
l just how deep the conviction runs.

#AltcoinBreakout #AltcoinSeasonLoading #PowellVsTrump