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  • Hong Kong crypto rules attract global banks as AMINA wins new approval

    Hong Kong crypto rules attract global banks as AMINA wins new approval

    Hong Kong crypto rules attract global banks as AMINA wins new approval

    • The licence covers 13 cryptocurrencies, including Bitcoin, Ether, USD,C and Tether.
    • AMINA reported a 233% increase in Hong Kong trading volumes in early 2025.
    • Hong Kong launched new stablecoin rules and approved a Solana ETF this year.

    Hong Kong’s push to build a regulated digital asset market is drawing more interest from global financial institutions, and the latest example is Swiss crypto bank AMINA Bank AG securing approval to expand its services in the city.

    The bank received a Type 1 licence uplift from the Securities and Futures Commission, which makes it the first international bank allowed to offer regulated crypto trading and custody to institutional clients in Hong Kong.

    The move strengthens the city’s position as a regional digital asset hub and highlights rising demand for bank-grade crypto services among professional traders.

    AMINA plans to use the approval to provide institutional users with a regulated route into cryptocurrencies at a time when clients are looking for stronger safeguards and clearer rules.

    Hong Kong’s compliance standards have often limited the number of foreign institutions able to offer these services, which has left a gap in the market for firms with established banking frameworks.

    AMINA’s entry aims to fill that gap while giving clients a regulated platform backed by traditional financial infrastructure.

    AMINA expands in a fast growing market

    The licence uplift allows AMINA’s Hong Kong subsidiary to offer trading and custody for 13 cryptocurrencies.

    These include Bitcoin, Ether, USDC, Tether, and several leading decentralised finance tokens that are widely used across global exchanges.

    The approval creates new opportunities for institutional clients looking for a single regulated venue with access to a curated list of major digital assets.

    AMINA also reported a sharp rise in market activity.

    The bank recorded a 233% increase in trading volume on Hong Kong crypto exchanges in the first half of 2025.

    The increase points to stronger engagement from both institutional and retail segments, which are becoming more active as Hong Kong’s regulatory environment evolves.

    The bank expects the new approval to support a wider product range.

    It plans to expand into private fund management, structured crypto products, derivatives, and tokenised real-world assets.

    These additions would place AMINA among the firms offering institutional clients diversified exposure across multiple types of digital assets.

    Local players face new global competition

    While AMINA is the first international bank to receive this specific licence upgrade, it enters a competitive market.

    Hong Kong already hosts regulated local firms such as Tiger Brokers and HashKey, which serve institutional and retail clients under earlier permissions.

    AMINA’s approval signals that the market is open to more foreign institutions, which could change competitive dynamics for both global and local providers.

    Hong Kong officials have said on multiple occasions that attracting global firms is central to the city’s digital asset strategy.

    AMINA’s arrival may encourage more banks and brokerages abroad to consider similar applications as they assess opportunities in Asia’s regulated crypto markets.

    Policy changes shape Hong Kong’s crypto framework

    AMINA’s approval arrives during a period of rapid policy development in the city.

    Hong Kong introduced its new stablecoin rules in August, creating a formal licensing pathway for issuers.

    Following this, major regional banks such as HSBC and ICBC indicated they were examining licence applications as part of their digital asset plans.

    The city also approved its first Solana exchange-traded fund in late October.

    The approval placed Hong Kong ahead of the US in allowing a regulated Solana ETF and added another product to its growing list of crypto-linked investment options.

    Hong Kong tightened rules around self-custody of digital assets in August.

    The change focused on improving cybersecurity protections and reducing risks tied to individual key management.

    The decision was presented as a safety measure rather than a restriction on user access.

    The combination of new rules and rising institutional interest has created an environment that is now attracting more global firms.

    AMINA’s regulatory progress adds momentum to Hong Kong’s strategy of balancing strong compliance with market expansion.

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  • Australia tightens crypto rules: check out all the details

    Australia tightens crypto rules: check out all the details

    Australia tightens crypto rules as ASIC classifies stablecoins as financial products

    • Crypto firms offering financial products must obtain an AFSL by 30 June.
    • Bitcoin and NFTs are said to be excluded from the financial product category.
    • The Treasury has finished consultations on new crypto legislation.

    Australia has tightened its regulatory framework for digital assets, introducing updated guidelines that define how crypto service providers will be classified and licensed.

    The Australian Securities and Investments Commission (ASIC) announced revisions to its Information Sheet 225.

    Firms offering services tied to financial products will now need to apply for an Australian Financial Services License (AFSL) and join the Australian Financial Complaints Authority by June 30.

    The updated document aims to streamline compliance requirements, strengthen investor protection, and bring digital asset providers under the same regulatory standards as traditional financial institutions.

    This marks a significant shift in Australia’s approach to overseeing crypto-related businesses and ensuring greater market transparency.

    The move aims to bring greater oversight to the rapidly evolving crypto industry while maintaining flexibility for tokens like Bitcoin, which will not be treated as financial products under the new guidance.

    Bitcoin excluded, but stablecoins under scrutiny

    Under the revised guidelines, ASIC clarified that cryptocurrencies such as Bitcoin, gaming non-fungible tokens (NFTs), and tokenised event tickets do not fall under the financial product category.

    However, stablecoins, wrapped tokens, tokenised securities, and yield-bearing products like staking services and tokenised real estate will require licensing.

    ASIC also confirmed in-principle regulatory relief for stablecoin and wrapped token distributors to help transition into compliance ahead of broader legislative reforms.

    The updated framework outlines that services offering financial returns or lock-up periods will be classified as financial products, ensuring investors in yield-based assets are protected under existing finance laws.

    Industry welcomes clarity but warns of implementation challenges

    The update has been broadly welcomed across the blockchain sector for providing long-awaited clarity.

    Industry groups and legal experts said the move provides visibility on ASIC’s approach to regulating the digital asset ecosystem.

    However, they warned that the transition could create logistical hurdles due to limited local expertise, banking restrictions, and insurance access.

    Blockchain APAC’s CEO noted that ASIC’s approach of implementing policy ahead of final legislation brings short-term certainty but also leaves room for interpretation.

    These “structural bottlenecks,” including resource and compliance constraints, could shift risks from legal to operational levels if not addressed promptly.

    Transition underway as crypto firms prepare for licensing

    Industry players are now restructuring their operations to align with the new rules.

    The Digital Economy Council of Australia called the update a significant step toward mainstream regulation but expressed concern about ASIC’s capacity to process a large volume of licensing applications in time.

    The move follows the Albanese government’s proposal in March for a unified framework that places crypto exchanges under existing financial services laws.

    The Treasury concluded consultations last week on draft legislation that would formalise this transition, further aligning Australia’s crypto oversight with global regulatory trends.

    The update marks a turning point for Australia’s digital asset market, setting a roadmap for compliance while signalling the government’s intention to balance innovation with investor protection.

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  • Cryptocurrency is as ‘property’ under Indian law, rules Madras High Court

    Cryptocurrency is as ‘property’ under Indian law, rules Madras High Court

    Madras High Court rules cryptocurrency is a “property”

    • Madras High Court confirms crypto can be owned and held in trust.
    • WazirX has been barred from redistributing investors’ unaffected XRP holdings.
    • Ruling strengthens investor rights and Web3 governance in India.

    In a landmark ruling that could reshape cryptocurrency in India, the Madras High Court has declared that cryptocurrencies qualify as property under Indian law.

    The Court’s decision, delivered by Justice N. Anand Venkatesh, affirms that cryptocurrencies can be owned, held in trust, and protected as legal property — a major step in clarifying the legal status of digital assets in the country.

    Cryptocurrency in India now recognised as property

    The case arose from a petition by an investor whose 3,532.30 XRP coins were frozen after a cyberattack on WazirX, one of India’s largest cryptocurrency exchanges.

    In July 2024, the platform suffered a $234 million hack involving Ethereum and ERC-20 tokens.

    While the investor’s XRP holdings were not part of the stolen assets, WazirX sought to redistribute all users’ funds under its so-called “socialisation of losses” plan.

    Justice Venkatesh firmly rejected the proposal, ruling that each investor’s digital holdings are individual property and cannot be diluted or redistributed to cover exchange losses.

    He emphasised that cryptocurrencies, though intangible, possess all the essential attributes of property — they are identifiable, transferable, and exclusively controlled through private keys.

    “It is not a tangible property nor is it a currency,” the judge observed. “However, it is a property, which is capable of being enjoyed and possessed in a beneficial form.”

    This interpretation grants digital asset holders stronger legal standing, ensuring that their cryptocurrencies are recognised as assets protected under Indian law.

    Jurisdiction and investor protection

    The Court also settled questions over jurisdiction, dismissing WazirX’s argument that Singaporean arbitration rules applied because its parent company, Zettai Pte Ltd, is based in Singapore.

    Justice Venkatesh cited the Supreme Court’s earlier decision in PASL Wind Solutions Pvt Ltd v. GE Power Conversion India Pvt Ltd (2021), noting that Indian courts have authority over assets located within India.

    Because the investor’s transactions originated from Chennai and involved an Indian bank account, the Court confirmed that the case fell squarely under Indian jurisdiction.

    The court further highlighted that Zanmai Labs Pvt Ltd, which operates WazirX in India, is registered with the Financial Intelligence Unit (FIU) — unlike its foreign parent company or Binance.

    This distinction reinforced that Indian exchanges operating domestically are subject to Indian oversight and accountability, particularly in protecting user assets and maintaining transparent custodial practices.

    Strengthening Web3 governance

    Justice Venkatesh’s decision went beyond individual relief to call for higher standards of corporate governance in the Web3 and crypto sectors.

    He urged exchanges to maintain separate client funds, conduct independent audits, and uphold robust KYC and anti-money laundering controls.

    These measures, the Court noted, are vital for building trust in the digital economy and protecting consumers from future mishandling of assets.

    Legal experts hailed the judgment as a milestone in developing “crypto-jurisprudence” in India.

    Vikram Subburaj, CEO of Indian exchange Giottus, described it as a foundational moment that signals to all market participants — exchanges, users, and regulators — that the digital asset space will be held to strong standards of governance and protection.

    A foundation for India’s crypto future

    The Court’s ruling not only protects the rights of individual investors but also strengthens the broader regulatory framework around digital assets.

    By recognising cryptocurrency as property, the judgment fills a crucial legal gap in a country where tax enforcement on crypto remains strict, but investor protections have lagged.

    As Justice Venkatesh wrote, courts now serve as the “central stage where the future of digital value is debated.”

    Through this ruling, the Madras High Court has given India a clearer picture of ownership, responsibility, and trust in the age of decentralisation.

    With cryptocurrency in India now firmly recognised as property under Indian law, the decision marks a turning point for the country’s digital asset ecosystem — affirming that in India, crypto holdings are not just speculative instruments but protected assets under the law.

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  • US SEC Chair Gensler reaffirms Bitcoin (BTC) is not a security under SEC rules

    US SEC Chair Gensler reaffirms Bitcoin (BTC) is not a security under SEC rules

    US SEC Chair Gensler reaffirms Bitcoin (BTC) is not a security under SEC rules
    • US SEC Chair Gensler reaffirms Bitcoin (BTC) is not a security under current regulations.
    • SEC plans new regulations for DeFi and trading systems to protect investors.
    • Crypto firms, including Coinbase, push back against expanding regulatory scope.

    In recent statements, SEC Chairman Gary Gensler has firmly reiterated that Bitcoin is classified as a non-security under existing SEC regulations. His comments came during an interview on CNBC’s “Squawk Box.”

    Gensler emphasized the importance of regulatory clarity, insisting that while many firms have benefitted from the public’s growing interest in cryptocurrencies, they often resist the regulations designed to ensure market integrity.

    In the interview, Gensler noted that the SEC’s role is to foster trust in the market, stating, “Innovations do not develop in the long term unless they also build trust.” He referenced the significant losses and bankruptcies that have occurred in the crypto space, underscoring the necessity of having regulations in place to protect investors.

    Gensler’s remarks also follow the recent eToro settlement, which confirmed that Bitcoin (BTC), along with Bitcoin Cash (BCH) and Ethereum (ETH), are not considered securities.

    Despite Gensler’s reaffirmation regarding Bitcoin, he acknowledged the discontent among crypto firms concerning regulatory frameworks. He highlighted that many industry stakeholders argue against the existence of such regulations, which he attributes to their discomfort with the enforcement actions taken by the SEC.

    Gensler indicated that the SEC is working on new regulations for decentralized finance (DeFi), suggesting a potential shift in oversight for various trading platforms.

    SEC’s trading systems proposal

    Earlier Gary Gensler while testifying before the US House Financial Services Committee discussed the SEC’s ongoing proposal to mandate that alternative trading systems register as brokers. This proposal aims to close regulatory gaps among trading platforms, ensuring compliance with rules intended to prevent unfair trading practices.

    However, the proposed regulations have met significant push-back from digital-asset firms, including Coinbase, which argue that the definition of an exchange could inadvertently include DeFi platforms, complicating their compliance.

    As the SEC continues to navigate the complex landscape of cryptocurrency regulation, Gensler reiterated the agency’s commitment to fostering a transparent market.

    With no timeline set for final decisions on the trading systems proposal, the SEC remains open to considering applications from exchanges seeking to offer central clearing for the US Treasury market, which is projected to expand significantly under new rules.

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  • UK High Court Judge rules against Craig Wright over Bitcoin copyright claims

    UK High Court Judge rules against Craig Wright over Bitcoin copyright claims

    UK High Court rules against Craig Wright over Bitcoin (BTC) copyright claims

    The UK High Court has delivered a damning verdict against Craig Wright, a controversial figure claiming to be the elusive creator of Bitcoin, Satoshi Nakamoto.

    Judge James Mellor, in a written judgment, asserted that Wright had lied “extensively and repeatedly” throughout the trial, further accusing him of presenting “fabricated” evidence to support his claims.

    COPA wins against Craig Wright

    Judge Mellor’s ruling serves as a culmination of a protracted legal battle that has spanned several years.

    The lawsuit, brought forth by the Crypto Open Patent Alliance (COPA), aimed to challenge Craig Wright’s assertions of ownership over the intellectual rights to Bitcoin’s code and whitepaper.

    Wright’s purported attempts to lay claim to these foundational aspects of the cryptocurrency ecosystem have been met with scepticism and legal resistance from various quarters.

    Wright’s litigious nature, characterized by numerous lawsuits against developers and individuals critical of his claims, has raised concerns within the Bitcoin community.

    However, Mellor acknowledged the adverse impact of Wright’s aggressive legal strategy on Bitcoin developers, stating that Satoshi Nakamoto, known for a collaborative and non-confrontational approach, would unlikely resort to litigation.

    Fabrications and forgeries of documents

    The judgment highlighted Wright’s alleged fabrications and forgeries of documents on a significant scale, all in support of his central claim to be Satoshi Nakamoto.

    The judge characterized Wright’s actions as “clumsy” and underscored the pivotal role these falsehoods played in shaping the trial’s outcome.

    COPA, formed with the primary objective of defending the open nature of the cryptocurrency ecosystem, contested Wright’s assertions, arguing that such claims could stifle innovation and deter developers from contributing to the Bitcoin network.

    Throughout the trial, evidence emerged casting doubt on the authenticity of Wright’s claims.

    Documents submitted by Wright’s defence purportedly supporting his identity as Satoshi Nakamoto were scrutinized, revealing inconsistencies and anomalies.

    Fonts that did not exist at the alleged time of their creation and metadata indicating recent document alterations were among the discrepancies cited in Judge Mellor’s judgment.

    Perjury charges loom over Craig Wright

    The legal saga surrounding Craig Wright has been closely monitored by the cryptocurrency community, given its potential ramifications for the future of Bitcoin and the broader blockchain space.

    While Craig Wright has announced on X that he will be appealing the ruling, the ruling represents a significant setback for his ambitions, with the possibility of perjury charges looming over him.

    In response to the verdict, COPA hailed the decision as a victory for open innovation and the principles upon which Bitcoin was founded.

    The alliance reiterated its commitment to safeguarding the decentralized nature of the cryptocurrency ecosystem, vowing to continue its efforts to protect against unwarranted copyright claims.

    As the dust settles on this legal showdown, the broader implications of Judge Mellor’s ruling reverberate across the cryptocurrency landscape.

    The verdict not only underscores the importance of transparency and integrity within the community but also serves as a cautionary tale against attempts to monopolize or control foundational elements of decentralized technologies like Bitcoin.

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  • Ripple secures a ‘huge win’ as Judge rules XRP is ‘not’ a security

    Ripple secures a ‘huge win’ as Judge rules XRP is ‘not’ a security

    ripple wins sec case xrp not a security
    • Judge Analisa Torres rules XRP token is a not a security.
    • Coinbase will resume trading in XRP in the next few minutes.
    • XRP nearly doubled in value following the ruling today.

    “XRP” – the native token of Ripple Labs nearly doubled in value on Thursday after the crypto company secured a “huge win” against the U.S. Securities and Exchange Commission.

    U.S. judge rules XRP is not a security

    Judge Analisa Torres of a U.S. District Court concluded the case today that has been dragged for three years now with a ruling that XRP is “not” a security.

    Defendants’ motion for summary judgement is GRANTED as to the Programmatic Sales, the Other Distributions, and Larsen’s and Garlinghouse’s sales, and DENIED as to Institutional Sales.

    The decision is a victory not just for Ripple but the crypto market at large that surpassed $1.20 trillion just hours after the ruling.

    Bitcoin was seen trading above $31,500 and Ethereum topped the $2,000 level.

    Coinbase to resume trading in XRP

    Reacting to the ruling, Coinbase – the largest U.S. crypto exchange also confirmed on Twitter that trading will resume in XRP later today.

    Note that the win Ripple has secured against the SEC on Thursday bodes well for other crypto companies as well that are currently facing intense regulatory scrutiny. That includes Coinbase itself.

    Also this morning, the Financial Times confirmed that Jacobi Asset Management is all set to debut the Europe’s first Spot Bitcoin ETF on the Euronext Amsterdam before the end of 2023. That also helped buoy the cryptocurrencies today.

    In the U.S., heavy weights including BlackRock are awaiting approval for a similar exchange-traded fund.

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