SEC Dismisses Complaint Against Binance

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Published time: 5/30/2025, 8:00:18 AM (Asia/Tokyo)

📢 Important News

• The SEC has dismissed its complaint against Binance and Changpeng Zhao, marking a significant regulatory shift for crypto exchanges. This conclusion follows a two-year legal battle, with Binance asserting the dismissal as a victory for the industry.
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• Bybit has obtained a MiCA license from Austria’s FMA, allowing it to operate as a regulated crypto asset service provider across the EU. This expansion reflects Bybit's compliance-first approach and follows a major security breach earlier this year.
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• Paris Saint-Germain announced its Bitcoin holdings as part of its treasury strategy during the 2025 Bitcoin Conference. The club aims to support blockchain initiatives and invest in Bitcoin startups, enhancing its digital asset presence.
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• Nigel Farage pledged to introduce a Crypto Assets and Digital Finance Bill, proposing a Bitcoin reserve at the Bank of England and tax reductions on crypto gains. This initiative aims to integrate crypto into mainstream politics ahead of the next general election.
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• Arkham revealed that Strategy holds an additional 53,833 BTC, totaling $59.92 billion in Bitcoin assets. This finding contradicts co-founder Michael Saylor's stance on wallet transparency, as Strategy slows its Bitcoin acquisitions amid market changes.
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📊 Market Changes

• Banco Santander is exploring a stablecoin launch through its digital banking unit, Openbank, considering euro and dollar-denominated stablecoins. This comes as Santander becomes Europe’s largest bank by market cap, seeking licenses under the EU’s MiCA for crypto trading services in multiple countries.
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• Square is earning a 9.7% yield on its Bitcoin holdings by running a node on the Lightning Network, generating around $1 million annually. The company aims to expand Lightning-based payments, enhancing Bitcoin payment adoption and liquidity.
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• Donut Labs raised $7 million to develop a Solana-based AI crypto browser, which will include a native wallet and interact with DEXs. The AI will autonomously execute on-chain operations, enhancing user engagement with blockchain applications.
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• In Buenos Aires, a couple involved in crypto was kidnapped for a $43,000 Bitcoin ransom. The female victim's call for help led to a police rescue. This incident highlights a rise in violent crimes targeting crypto figures globally.
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• The Bank of Russia will allow financial institutions to offer qualified investors access to non-deliverable crypto derivatives and tokenized securities. This cautious step aims to integrate digital assets into finance amid rising domestic crypto activity.
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⚖️ Policy & Regulation

• The Bank of Russia has allowed financial institutions to offer crypto-based instruments to accredited investors, including derivatives and tokenized securities. This follows a 51% increase in crypto transaction volumes, totaling 7.3 trillion rubles. T-Bank is now offering Bitcoin investments in rubles, though the central bank remains cautious about direct crypto investments.
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• Kazakhstan's President announced 'CryptoCity,' a pilot project to enable regulated cryptocurrency transactions for goods and services. This initiative aims to legitimize crypto payments and modernize the financial infrastructure, potentially enhancing the blockchain industry and attracting tech professionals.
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• House Republicans introduced the Digital Asset Market Clarity Act to create a regulatory framework for digital asset markets, establishing the CFTC as the main regulator. The bill allows crypto platforms to choose between CFTC or SEC registration and includes provisions for stablecoins and DeFi.
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• Hidden Road launched an OTC crypto swaps product for U.S. institutional investors, enhancing access to digital assets. This comes amid rising institutional demand for trading infrastructure and follows Ripple's pending acquisition of Hidden Road, expected to boost its stablecoin offerings.
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• A U.S. federal court froze $57.65 million in USDC linked to the LIBRA token amid legal disputes. The assets are held in Solana wallets, with a hearing scheduled to determine their future. The case has political implications, involving Argentine President Javier Milei and allegations of misleading practices.
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📜 Glossary

• SEC: U.S. Securities and Exchange Commission, regulates securities markets.

• MiCA: Markets in Crypto-Assets, EU regulation for crypto assets.

• BTC: Bitcoin, a decentralized digital currency.