News linked to both this project and an event.
U.S. Treasury Secretary Bessent stated that it would be unusual for outgoing Federal Reserve Chair Powell to remain as a Fed governor. For someone who has always emphasized norms, his unilateral decision would run counter to tradition. Kevin Warsh will bring a fresh perspective to the Federal Reserve with a clear system of accountability, effective management mechanisms, and sound policy-making.
On April 17, South Africa’s National Treasury released the Draft Capital Flow Management Regulations (2026) for public consultation. The draft proposes incorporating crypto assets into the foreign exchange control framework to address associated risks and strengthen oversight of emerging financial instruments. It also aims to align the foreign exchange control framework with recommendations from the OECD and the FATF on combating money laundering, terrorist financing, and illicit financial flows, further clarifying exemptions, licensing requirements, and conditions of application, while imposing administrative penalties for violations.
According to CoinDesk, Morgan Stanley Investment Management (MSIM) has officially launched the “Stablecoin Reserve Portfolio” (MSNXX), a government money market fund specifically designed for stablecoin issuers. The fund invests exclusively in highly liquid instruments such as U.S. Treasury securities and repurchase agreements backed by government securities, targets a net asset value of $1.00, and offers daily liquidity. This move aims to provide stablecoin issuers with a compliant, low-risk custodial solution for reserve assets.
the U.S. Treasury Department's Office of Foreign Assets Control (OFAC) has announced sanctions against Cambodian Senator Kok An, accusing him of controlling "fraud compounds" across the country that defrauded U.S. victims through crypto investment scams.According to an OFAC statement released on Thursday, in addition to Kok An, 28 other individuals and entities have been added to the sanctions list, all believed to be linked to his fraud network. The network allegedly lured victims into sending crypto assets by promising "high-return investments."This action follows a raid by Cambodian police on two fraud centers in the border town of Poipet. Kok An had previously been accused of operating fraud hubs in that area.OFAC stated that fraudsters typically gain victims' trust by establishing "friendships" or "romantic relationships," then guide them to participate in so-called crypto investment platforms to defraud funds, with total losses reaching millions of dollars.Notably, some individuals involved in the fraudulent activities are themselves victims of human trafficking, forced to engage in illegal acts under threats of violence. OFAC pointed out that these fraud centers are often located in casinos or repurposed office parks, serving not only as hubs for money laundering but also as bases for committing fraud and human rights abuses against U.S. citizens.Additionally, regulators have simultaneously seized over 500 domain names of fake websites used for crypto investment scams, indicating that the U.S. is further intensifying its crackdown on related criminal activities.
Odaily News Aurise Foundation announced the launch of the yield-bearing gold token XAUE on Ethereum, designed to serve as a yield-bearing treasury for Tether Gold (XAU₮). XAUE targets compliant institutional participants, introducing crypto-native yield to traditional non-yielding gold through quantitative strategies and institutional lending, transforming it into a programmable and capital-efficient on-chain asset.Current ecosystem partners Aurelion and Antalpha have jointly contributed 16,052 XAU₮ (approximately $76 million) to XAUE. The protocol employs an exchange rate growth model, where the gold value pegged to each XAUE increases as yields accumulate, and it will integrate with more decentralized finance protocols such as DEXs in the future.
According to The Block, the UK Treasury has unveiled a payment regulatory reform proposal that aims to bring traditional payment services, stablecoins, and tokenized deposits under a unified regulatory framework. The proposal also plans to regulate stablecoins used for payments through subsequent issuance rules. Additionally, it seeks to expand the Financial Conduct Authority’s (FCA) supervisory authority over open banking and explore regulatory adjustments for payment activities conducted by AI agents. Meanwhile, the UK Treasury will provide £1 million in funding to the Centre for Finance, Innovation and Technology starting in April and has appointed Chris Woolard CBE to lead the development of a tokenized financial system for wholesale digital markets.
According to the official announcement, Layer 1 public blockchain Pharos has unveiled the tokenomics for its native token PROS, with a total supply of 1 billion tokens. The initial supply allocation is as follows: Foundation Treasury (16%), Lab Co. Treasury (9%), Team (20%), Investors (20%), Ecosystem & Community (21%—including 6% for community airdrops: 1% unlocked at TGE and 5% reserved for future community growth and airdrop incentives), and Node & Liquidity Incentives (14%). Core team members and private-sale investors are subject to a 12-month lock-up period followed by a 36-month linear vesting schedule. Certain treasury and incentive allocations extend vesting periods to 48–60 months. PROS serves multiple functions: transaction fees, PoS staking, validator participation, governance, ecosystem incentives, and potential RWA-specific use cases. The staking issuance policy adopts a phased approach: zero inflation during the first six months following mainnet launch; starting in Month 7, annual inflation is set at 5%, subject to dynamic adjustment by the Foundation based on network operational conditions.
According to the Hong Kong Commercial Daily, in response to growing discussions in Hong Kong about “Middle Eastern capital flowing into the city,” Mr. Chan Ho-lam, Deputy Secretary for Financial Services and the Treasury of the Hong Kong SAR Government, stated that there has indeed been an increase in client inquiries regarding how to transfer funds to Hong Kong or open accounts here. He emphasized that exchanges between Hong Kong and the Middle East are two-way: a licensed virtual insurance company based in Hong Kong has already expanded its operations into Saudi Arabia and the United Arab Emirates; Hong Kong’s tokenized funds have been listed on Middle Eastern wealth management platforms; and Asian investors can purchase Islamic bond ETFs in Hong Kong—providing Middle Eastern investors with a familiar and trusted market. Mr. Chan stressed that the Hong Kong government is actively promoting fintech and digital assets. It is currently formulating legislative proposals for licensing regimes covering digital asset trading and custody services, aiming to establish a comprehensive regulatory framework and position Hong Kong as a global hub for digital asset innovation.
Alex Thorn, Head of Research at Galaxy Digital, stated that the Office of Foreign Assets Control (OFAC) sanctions list—the Specially Designated Nationals (SDN) List—has historically included 518 Bitcoin addresses, which collectively received 249,814 BTC and sent 239,708 BTC, leaving a current net balance of approximately 9,306 BTC—valued at roughly $707 million at current market prices. Thorn also noted that OFAC sanctions represent only one of several U.S. tools for intercepting illicit assets, and the CLARITY Act would further expand the Treasury Department’s related authorities.
According to CoinDesk, Liz Truss—former UK Prime Minister and the shortest-serving in British history—said in an interview that the UK economy is on a “very negative trajectory,” with high taxation, excessive regulation, and energy costs making entrepreneurship “a risk rarely worth the reward.” She attributed inflation and wealth inequality to “currency devaluation” and noted that discussions about monetary policy within government have become “taboo”—a phenomenon she described as “quite alarming.” Truss said she is “very interested” in Bitcoin, viewing it as a vital tool for countering currency devaluation and resisting centralized financial control. She revealed she first encountered Bitcoin during her tenure as Chief Secretary to the Treasury. She is now actively building CPAC UK and plans to host a three-day conference bringing together entrepreneurs and activists to advance a movement for “sovereignty and freedom,” declaring outright: “There are only two options—either sink or radically transform.”
According to Fortune, on April 17, U.S. Senator Richard Blumenthal (Democrat, Connecticut) sent a letter to the Department of Justice (DOJ) and the Financial Crimes Enforcement Network (FinCEN) under the U.S. Department of the Treasury, requesting clarification on the current status of two compliance monitors assigned to Binance—the world’s largest cryptocurrency exchange. Earlier reports indicated that internal Binance investigators had warned executives that over $1 billion in funds had flowed to wallets linked to Iran, but were subsequently fired. Binance denies any connection between the dismissals and the investigation findings, asserting that its compliance system is rigorous. Notably, the DOJ has previously terminated independent monitoring requirements for Glencore and Boeing. This has raised external concerns about whether the monitoring mechanism may likewise be suspended for Binance. In 2023, Binance was fined $4.3 billion for failures in anti-money laundering (AML) and sanctions compliance; the two monitors were part of the settlement agreement reached at that time.
According to CoinTelegraph, at the 2026 Paris Blockchain Week, Thomas Vogel, a partner at law firm Latham & Watkins, stated that Europe faces significantly different regulatory constraints compared to the U.S. regarding the issuance of financial instruments such as convertible bonds. Differences in capital market depth, regulatory environments, and investor behavior make it difficult for European companies to directly replicate MicroStrategy’s Bitcoin treasury strategy. Alexandre Laizet, Head of Bitcoin Strategy at French treasury firm Capital B, noted that European firms are instead turning to local market infrastructure—such as France’s public markets and Luxembourg-based structures—to raise Bitcoin-linked capital. Currently, major Bitcoin-holding enterprises in Europe lag far behind their U.S. counterparts in scale: Germany’s Bitcoin Group SE holds 3,605 BTC (approximately $268 million); Capital B holds 2,925 BTC at an average purchase price of $99,932, resulting in an unrealized loss of approximately 25.6%; the Netherlands’ Treasury holds 1,111 BTC at an average price of $111,857, with an unrealized loss of roughly 33.5%; and Sweden’s H100 Group holds 1,051 BTC at an average price of $114,615, incurring an unrealized loss of about 35.1%.
According to Newsis, South Korea’s Ministry of Economy and Finance announced on April 16 that the pilot project titled “Blockchain-Based Digital Currency for Treasury Fund Disbursement” has been selected as one of the targeted regulatory sandbox initiatives for 2026. Under this pilot, government agencies’ operational expense disbursements—currently made via government procurement cards—will instead be issued and paid using blockchain-based deposit tokens. The South Korean government stated that this initiative is expected to enhance fund usage transparency by predefining permissible usage timeframes and eligible industries, while also reducing transaction fees for small merchants through a disintermediated payment structure. The pilot is scheduled to officially launch in the fourth quarter of this year, initially in Sejong City, with gradual expansion to other regions thereafter.
Odaily News As the U.S. midterm elections approach, the White House is accelerating efforts to promote a crypto market structure bill to ease the long-standing disputes between the banking industry and the crypto sector.Reports indicate that multiple parties, including Treasury Secretary Scott Bessent, White House crypto advisor Patrick Witt, and related policy figures, have recently publicly called for advancing this bill. The U.S. Council of Economic Advisers has also released a report addressing the banking industry's concerns about the crypto sector.Analysts suggest that, based on the timing, the current period may be a critical window for promoting relevant legislation, but uncertainty remains regarding whether the bill can be smoothly passed. (The Hill)
According to CryptoSlate, the White House Council of Economic Advisers recently released a research report stating that banning stablecoin yields offers only minimal protection for bank lending, yet would significantly reduce consumers’ ability to earn returns through digital cash. This conclusion directly undermines the banking industry’s core argument in favor of yield restrictions and provides new policy support for the CLARITY Act. Currently, Treasury Secretary Bessent and SEC Chair Atkins have both publicly endorsed the bill, indicating growing alignment between the executive branch and regulatory agencies. However, the Senate Banking Committee has yet to announce a timeline for reviewing the legislation, and political maneuvering remains the largest uncertainty. Analysts note that if the committee completes its review before the summer recess, the bill’s chances of passage will rise substantially; otherwise, it faces the dual risks of electoral pressures and legislative delays.
Officials from the Bank of England, the Financial Conduct Authority, and the Treasury are consulting with the National Cyber Security Centre to examine potential vulnerabilities in critical IT systems revealed by Anthropic’s latest model.
In his response, Witkoff clarified the following points one by one: First, WLFI has absolutely no connection with the TRUMP meme coin—these two should not be conflated. Second, WLFI is unrelated to “fight fight fight” or CIC Digital. Third, early WLFI holders purchased the token at prices of $0.015 and $0.05, respectively; its current price stands at $0.08. Fourth, WLFI’s core product is not transaction fees, but rather the stablecoin USD1, which generates yield by holding U.S. Treasury securities. By both trading volume and market capitalization, USD1 is currently the world’s second-largest compliant stablecoin.
Coinbase CEO Brian Armstrong responded to U.S. Treasury Secretary Scott Bessent’s call for the passage of the “Clarity for Digital Assets Markets Act” (CLARITY Act), expressing agreement and gratitude for his advocacy. Armstrong emphasized that bipartisan collaboration between senators and staff over the past several months has significantly strengthened the bill. Earlier, the U.S. Treasury Secretary urged Congress to swiftly pass the CLARITY Act.
According to CoinDesk, the U.S. Department of the Treasury announced it will extend its cybersecurity threat information-sharing service—which was previously available only to traditional financial institutions—to cryptocurrency firms. Eligible crypto companies may apply to join the program through the Treasury’s Office of Cybersecurity and Critical Infrastructure Protection and receive timely, actionable cybersecurity threat intelligence at no cost. Luke Pettit, Assistant Secretary for Financial Institutions at the Treasury Department, stated that this move aims to foster a safer and more responsible digital asset ecosystem. The policy responds to related recommendations outlined in a prior report issued by the President’s Working Group on Digital Asset Markets.
Paul Atkins, Chairman of the U.S. Securities and Exchange Commission (SEC), posted: “Project Crypto is designed so that, once Congress acts, the SEC and the CFTC will be ready to implement the CLARITY Act. Treasury Secretary Bessent is right: It’s time for Congress to future-proof against regulatory overreach and advance comprehensive market structure legislation to President Trump’s desk.”