cryptoregulationbattle

Vietnam bewegt sich näher daran, den Kryptowährungsmarkt formell zu regulieren, mit neuen Vorschlägen, die Krypto-Transaktionen ähnlich wie den Aktienhandel besteuern würden. Der kürzlich vom Finanzministerium veröffentlichte Entwurf hat eine weitreichende Diskussion unter Investoren, Branchenvertretern und politischen Entscheidungsträgern ausgelöst.
0.1% Transaktionssteuer auf Krypto-Trades
Laut dem Vorschlag unterliegen Personen, die Kryptowährungen über lizenzierte Dienstanbieter transferieren oder handeln, einer persönlichen Einkommensteuer von 0.1% auf den gesamten Transaktionswert. Dieses Besteuerungsmodell spiegelt den aktuellen Mechanismus wider, der auf Aktiengeschäfte in Vietnam angewendet wird, wobei die Steuer auf dem Umsatz und nicht auf dem Nettogewinn berechnet wird.

China has once again reaffirmed its strict ban on cryptocurrencies, while significantly expanding regulatory scrutiny to include real-world asset (RWA) tokenization and stablecoins issued offshore but linked to the Chinese yuan.
In a joint notice released on Friday, the People’s Bank of China (PBoC), together with key regulatory bodies including the National Development and Reform Commission, the Ministry of Public Security, securities regulators, and the foreign exchange authority, reiterated that all crypto-related activities remain illegal in mainland China.
The authorities stated that speculative activities involving cryptocurrencies and RWA tokenization have disrupted financial order and increased systemic risks, reinforcing Beijing’s long-standing concerns over financial stability and capital control.
Cryptocurrencies Have No Legal Status in China
The notice emphasized China’s consistent policy stance: all cryptocurrencies, including Bitcoin and stablecoins such as USDT, do not have legal status equivalent to fiat currency and are not permitted to circulate as money within the country.
A wide range of crypto-related business activities continue to be classified as illegal financial operations, including:
Converting cryptocurrencies into fiat currency
Token trading and exchange services
Acting as a central counterparty or clearing intermediary
Providing pricing information, valuation services, or technical support for crypto transactions
These restrictions apply regardless of whether the activities are conducted directly or indirectly.
Beijing Takes a Harder Line on Stablecoins and RWA
One of the most notable developments in the latest announcement is Beijing’s toughened stance on yuan-linked stablecoins. Regulators made it clear that no organization or individual—domestic or foreign—is permitted to issue offshore stablecoins pegged to the Chinese yuan without explicit regulatory approval.
This clarification signals growing concern among Chinese authorities over the potential impact of stablecoins on monetary sovereignty, cross-border capital flows, and financial supervision.
Language surrounding real-world asset (RWA) tokenization has also been significantly tightened. RWA tokenization is defined as the use of cryptographic techniques and distributed ledger technology to convert ownership rights or income rights into tokenized certificates that can be issued and traded.
Under the new framework:
RWA tokenization activities are prohibited within China, unless conducted on designated financial infrastructure with prior regulatory approval
Related intermediary services and IT support are also banned
Foreign entities are prohibited from illegally providing RWA tokenization services to domestic Chinese counterparts
Expanded Reach Beyond China’s Borders
The new rules further narrow regulatory loopholes by extending oversight beyond mainland China. Domestic entities—or offshore entities controlled by them—are not allowed to issue cryptocurrencies overseas without proper approval.
In addition, the principle of “same activity, same risk, same regulation” now applies to offshore RWA tokenization projects that are based on domestic assets or economic interests. Such projects must obtain regulatory approval or complete required filings, even if the token issuance occurs outside China.
Not a New Policy, But a Broader Enforcement Scope
While the stronger language on offshore structures and RWA tokenization represents a tightening of enforcement, it is not a new policy direction. In the past, Chinese regulators have:
Required brokerage firms to halt tokenization initiatives in Hong Kong
Repeatedly warned about the risks associated with stablecoins
Continued to promote state-backed digital currencies, particularly the digital yuan (e-CNY)
Together, these measures underline Beijing’s preference for tightly controlled digital finance models over decentralized or privately issued crypto assets.
Final Thoughts
China’s latest regulatory clarification reinforces its zero-tolerance approach toward cryptocurrencies while signaling increased vigilance over emerging areas such as tokenized assets and stablecoins. The move reflects broader concerns over financial stability, regulatory arbitrage, and the preservation of monetary control.
📌 Disclaimer:
This article is for informational purposes only and represents a personal blog-style market commentary. It does not constitute financial or investment advice. Readers should conduct their own independent research before making any financial decisions. The author assumes no responsibility for outcomes resulting from actions taken based on this content.
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#china #CryptoRegulationBattle #Stablecoins

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Wenn der Präsident des Landes persönlich eine Kryptowährung ankündigt und der Gründer von Binance Ratschläge gibt — dann ist das nicht einfach nur ein Token. Das ist eine politische Wette. Heute analysieren wir, wer wirklich hinter @Binance CIS $KGST steht und warum diese Unterstützung wichtiger sein könnte als die Technologie selbst.
Der Präsident von Kirgisistan im Spiel
Sadyr Dschaparow — der amtierende Präsident — hat persönlich die Listung von KGST auf Binance am 23. Dezember 2025 bekannt gegeben. Nicht der Pressesprecher, nicht der Minister. Der Präsident selbst.

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Die echte Frage, die niemand stellt
Schau mal, @Binance CIS gerade aufgelistet $KGST —Kirgiziens nationale Stablecoin, die 1:1 an ihren Som gekoppelt ist. Erstes CIS-Land, das dies auf Binance umsetzt. Klingt cool, oder? Aber hier ist die Sache: Brauchen wir wirklich Regierungen, die Krypto schaffen?
Ich beobachte diesen Bereich seit Jahren. Die meisten von uns wurden verbrannt, weil sie Rendite auf fragwürdige Stablecoins jagten. Jetzt wollen die Regierungen mitmachen. Lass mich erklären, was das wirklich bedeutet.
Was $KGST Eigentlich Ist
Es ist einfach. Ein Token entspricht einem kirgisischen Som (etwa 0,011 $). Auf der BNB-Chain aufgebaut. Durch Reserven in lokalen Banken gedeckt. Der Präsident selbst hat es angekündigt. Das ist selten.

📅 November 20 | United States
A powerful coalition of blockchain companies, technology associations, and Web3 ecosystem organizations is demanding that President Donald Trump take an unprecedented step: directly ordering federal agencies to unblock—immediately—stalled tax regulations that have been blocked for years, stifling innovation and leaving millions of taxpayers without legal clarity.

📖The Proof of Stake Alliance (POSA), along with other crypto sector organizations, formally requested that Donald Trump use his executive authority to instruct key federal agencies, such as the Department of the Treasury and the IRS, to expedite and unblock a series of regulatory guidelines on taxes applied to digital assets.
The request is not arbitrary: several of these regulations have been on hold for years, some since 2019 and others since 2021, without updates or with drafts that were never published. In the letter, POSA warns that this lack of clarity “creates massive legal uncertainty”, affecting both companies and users who do not know how to declare income from activities such as staking, validation on PoS networks, or complex transactions in the DeFi ecosystem.
One of the most sensitive points is the guide on cryptocurrency staking, an activity that has grown explosively in recent years. For some time now, the industry has been claiming that the IRS has not defined whether rewards should be taxed at the time of token creation, at the time of sale, or under a hybrid model. This lack of regulation means that each exchange, custodian, or user adopts different interpretations, exposing themselves to audits, sanctions, or litigation.
The coalition is also demanding an update on the tax treatment of the so-called “broker rules”, which seek to impose reporting obligations on crypto platforms. In their current form, the regulations could encompass developers, miners, and validators, who—according to POSA—should not be considered brokers. The industry fears that if these rules move forward without adjustments, they could penalize actors who have no control over user transactions.

Topic Opinion:
I believe the pressure is legitimate: without clear rules, users are left vulnerable, and companies operate in a limbo that stifles innovation. If Donald Trump truly wants to position the United States as a technological leader, now is the time to act decisively. Regulatory education is as important as financial education, and only with a transparent framework is it possible to build a solid, secure, and competitive ecosystem.
💬 Are you concerned about the lack of tax clarity in the sector?

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