framework

According to BeInCrypto, Mastercard has joined the Blockchain Security Standards Committee (BSSC) as a charter-level member, collaborating with members such as Coinbase, Fireblocks, Anchorage Digital, and BitGo to develop a security framework for blockchain networks and tokenized assets.Mastercard will also join a working group focused on security and privacy guidelines, with Claire Le Gal from the security solutions department, responsible for fraud prevention, cyber resilience, disputes, and threat intelligence, representing Mastercard on the BSSC board. The executive director of BSSC stated that Mastercard's payment experience is of significant value in establishing robust blockchain security rules. Mastercard has launched multi-token networks and crypto credential products aimed at embedding trust in blockchain and tokenized infrastructure.

The Hong Kong Securities and Futures Commission has announced a new regulatory framework that allows tokenized investment products approved by the Commission to be traded in the secondary market, in order to promote the development of digital asset trading activities in Hong Kong.The new guidelines primarily facilitate the secondary market trading of tokenized open-ended funds on licensed virtual asset trading platforms and will consider allowing over-the-counter trading arrangements on a case-by-case basis. As of March 2026, there are already 13 tokenized products available to the public in Hong Kong, with the total asset value of tokenized equity management assets increasing to approximately 10.7 billion. The first batch of products is expected to mainly consist of tokenized money market funds. The new measures cover fair pricing, orderly trading, liquidity provision, and information disclosure.

ChainCatcher reported live that the Deputy Secretary for Financial Services and the Treasury of Hong Kong, Chan Ho Lam, delivered a keynote speech at the 2026 Hong Kong Web3 Carnival. He pointed out that Hong Kong has developed into the third global financial center index and the first international financial center in Asia, providing a solid foundation for Web3 innovation.He stated that the digital asset development policy declaration 2.0 released last year proposed the LEAP framework, which covers four pillars: optimizing legal regulation (L), expanding the variety of tokenized products (E), promoting application scenarios and cross-border cooperation (A), and developing talent and partnerships (P).He revealed that there are currently over 10 licensed trading platforms in Hong Kong, and the Monetary Authority has issued the first two stablecoin issuer licenses this month. The SAR government issued the third batch of tokenized green bonds last year, which is the largest scale globally, and is actively formulating regulatory systems for digital asset trading service providers and custodial service providers.

The UK's Financial Conduct Authority (FCA) has released the final draft of the crypto asset framework. This new regulation is set to bring most crypto activities under the regulation of the Financial Services and Markets Act by October 25, 2027.According to the proposal, any institution that holds customer crypto assets for more than 24 hours or has the ability to revoke customer permissions will be considered a regulated custodian and must hold a full safeguarding license. Validators and node operators that provide value-added features such as yield or reward reinvestment will lose their technical exemptions. In addition, stablecoin issuers within the UK must control the entire lifecycle from issuance to redemption. Relevant institutions must submit authorization applications between September 30, 2026, and February 28, 2027.

According to Cointelegraph, the UK's Financial Conduct Authority (FCA) has announced that it is seeking industry feedback on guidance for the future regulatory framework for crypto assets in the UK, aimed at facilitating the implementation of a comprehensive regulatory framework that will take effect on October 25, 2027.According to the announcement, this consultation will last until June 3, 2026, and aims to help businesses understand the impact of the new regulations on their operations, providing compliance guidance for key areas such as stablecoin issuance, crypto trading, custody, and staking.The FCA stated that it hopes to establish a "competitive and sustainable" crypto market, allowing compliant institutions to better serve UK users. The FCA also disclosed that the application process for relevant crypto business licenses is expected to open in September 2026 and continue until February 2027.All institutions providing crypto asset services will need to obtain authorization under the Financial Services and Markets Act (FSMA) in the future, and previous registration under anti-money laundering frameworks will not automatically exempt them. This guidance consultation is seen as an important step in the UK's gradual improvement of its crypto regulatory system, marking an accelerated transition from partial regulation to a comprehensive licensing system.

JPMorgan CFO Jeremy Barnum stated during the earnings call that if regulatory rules are not aligned with traditional bank deposits, stablecoins may evolve into a "regulatory arbitrage" tool. He pointed out that some stablecoin models already exhibit deposit-like characteristics, such as providing incentives similar to yields, but are not subject to banking regulatory requirements like capital, liquidity, and consumer protection, which could create an unfair competitive environment. "If the same products are not regulated equally, it will open up arbitrage opportunities," Barnum said.Currently, U.S. legislation is pushing for a cryptocurrency regulatory framework, including the Clarity Act, to clarify the regulatory division of labor between the U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission, and to regulate the development of the stablecoin market. Additionally, whether to allow stablecoins to distribute reserve earnings to users has become a point of contention. Cryptocurrency companies, including Coinbase, support "interest-bearing stablecoins," while banks believe this would bring them closer to deposit products but lack corresponding regulatory constraints. JPMorgan expressed support for regulatory clarity but emphasized that "regulatory consistency" takes precedence over speed. At the same time, the bank is advancing product layouts, including JPM Coin and tokenized deposits, through its blockchain division Kinexys to modernize the payment system.

The Dubai Virtual Assets Regulatory Authority (VARA) released guidelines for the issuance of virtual assets on Thursday, providing clear regulations on the structural design, information disclosure, and distribution methods for stablecoins and real-world asset (RWA) tokens.The guidelines categorize token issuance into three pathways: Category 1 covers fiat-pegged and asset-pegged virtual assets; Category 2 must be distributed through licensed intermediaries, which are responsible for due diligence and ongoing compliance verification; the third category consists of functionally restricted exempt virtual assets.VARA's General Counsel Ruben Bombardi stated that the framework enhances transparency through white papers and independent risk disclosure statements, providing issuers with "greater regulatory certainty" and offering market participants a "single, exclusive reference." These guidelines serve as an interpretative document for the existing "Virtual Asset Issuance Rules Manual" and do not constitute new legislation.

The ruling Democratic Party of Korea proposed the "Basic Law on Digital Assets" this Wednesday, aiming to establish a comprehensive legal framework for the issuance, trading, custody, and supervision of digital assets.The bill categorizes value-related digital assets, such as stablecoins linked to fiat currency or real assets, as a special category, requiring issuers to obtain authorization and meet strict standards such as capital thresholds, reserve plans, and redemption obligations. In addition, the bill will introduce a licensing, registration, and information disclosure system for digital asset businesses, prohibit improper behaviors such as market manipulation and insider trading, and propose the establishment of a Digital Asset Committee to coordinate policy.

According to The Block, the Democratic Party of Korea plans to incorporate tokenized real-world assets (RWA) and stablecoins into the existing legal framework, with relevant provisions included in the proposal for the Digital Asset Basic Law.The proposal requires issuers of tokenized RWA to deposit the underlying assets into a trust account in accordance with the Capital Markets Act; stablecoins are classified as a "means of payment" under the Foreign Exchange Transaction Act and are regulated by the foreign exchange authority without the need for separate registration. Small stablecoin transactions are exempt from foreign exchange reporting, while large transactions maintain regulatory requirements.In addition, the proposal prohibits providing yields on idle stablecoin balances and requires the Financial Services Commission to establish technical standards for stablecoin interoperability. The Digital Asset Basic Law is Korea's second set of digital asset regulatory regulations, which has faced multiple legislative delays, with the originally scheduled rollout in 2025 being postponed.

According to a report by AFP, Trump stated in a recent interview: "America has achieved a 'complete and total victory,' 100 percent, no doubt about it. There is already a solid framework in place for a long-term agreement. We have an agreement that includes 15 points, most of which have already been agreed upon.Any peace agreement will cover the issue of nuclear materials. Let's wait and see. Let's see if it can be reached." Trump refused to disclose whether he would restore the initial threat of destroying Iran's civilian power plants and bridges if the agreement falls apart.

Sky Governance announced on April 7 two structural upgrade proposals aimed at strengthening the capital protection framework of the protocol. The two proposals are: implementing a stronger solvency buffer mechanism and adopting a more sustainable staking reward model, with the goal of consolidating the long-term stability of the protocol and placing credibility above the pursuit of short-term gains.Sky Protocol pointed out that its yield-bearing stablecoin sUSDS is the largest in its category, attributing this success to the protocol's unique risk positioning compared to its competitors.

According to Solid Intel, the central banks of France and South Korea are collaborating on a framework for tokenized cross-border payments and digital assets.

The Blockchain Association submitted a letter to the U.S. Securities and Exchange Commission (SEC) in response to Citadel's previous call for increased regulation of DeFi.The Blockchain Association stated that DeFi protocol developers do not fall under the category of brokers or exchange operators and should not be included in the regulatory framework designed for traditional financial intermediaries. The organization also urged the SEC to advance an "innovation exemption" mechanism to provide regulatory pilot space for on-chain assets and tokenized securities, pointing out that the comprehensive rule-making process is lengthy, which may delay the implementation of technology and lead to innovation outflow. Previously, Citadel had suggested that the SEC strengthen regulation of DeFi through formal legislative processes.

Mike Selig, the chairman of the U.S. Commodity Futures Trading Commission, stated on the X platform that U.S. federal law clearly stipulates that the derivatives market is regulated by the U.S. Commodity Futures Trading Commission.Whether it's sports, politics, or oil prices, under the federal regulatory framework, the U.S. Commodity Futures Trading Commission has clear jurisdiction to regulate prediction markets and is obligated to uphold the regulations.

The Governor of Alabama has signed Bill SB 277, creating a legal framework for nonprofit entities similar to DAOs. Alabama becomes the second state in the United States to establish a legal framework for entities similar to DAOs. The bill stipulates that members of a DAO are generally not personally liable for its collective activities.

The Deputy Secretary for Financial Services and the Treasury of Hong Kong, Chan Ho Lam, stated at the 2026 Annual Tax Seminar of the Association of Chartered Certified Accountants (ACCA) Hong Kong Branch that the OECD has revised the Common Reporting Standard (CRS) to include new digital financial products such as central bank digital currencies and has optimized the reporting and due diligence requirements for financial institutions.In addition, the OECD has released the Crypto-Asset Reporting Framework (CARF) so that tax jurisdictions can automatically exchange crypto-asset transaction information to enhance transaction transparency. The Hong Kong Legislative Council has expressed support, with the goal of completing legislation by 2026.

According to Cointelegraph, the Dubai Virtual Assets Regulatory Authority has released a formal regulatory framework for cryptocurrency exchange-traded derivatives, allowing retail customers to participate in trading after a suitability assessment.The new regulations cover requirements such as customer suitability, leverage and margin controls, asset segregation, disclosure standards, and regulatory intervention powers. The leverage limit for retail investors is set at 5 times, and exchanges must restrict access when products are deemed unsuitable for specific customer groups. VARA stated that during periods of market stress or trading disruptions, regulators have the authority to take intervention measures, including suspending products, requiring liquidation, increasing margin requirements, and in emergencies, demanding immediate action without prior notice.