In the world of crypto regulation, we're witnessing a fascinating divergence of approaches. On one hand, Algeria has taken an aggressive stance against crypto, expanding its 2018 Financial Law to ban all crypto-related activities, including trading, ownership, and mining. This move, however, goes against the global trend of crypto liberalisation and could fuel a grey market where users lack safeguards and protections.
In contrast, South Korea is taking a more nuanced approach, flagging concerns over crypto lending and margin trading products recently introduced by major exchanges. The regulators' intervention targets services that allow users to short-sell crypto through borrowed funds, a practice that has alarmed regulators due to its similarity to risky trading mechanisms typically restricted in traditional markets.
Meanwhile, Bolivia is embracing crypto, forming a strategic alliance with El Salvador to exchange expertise in digital asset regulation and blockchain technologies. This partnership aims to foster collaboration in areas such as blockchain intelligence, regulatory frameworks, and risk management tools.
In the US, the SEC is leaning on the CFTC and Coinbase to decide which digital assets get spot crypto ETFs. This framework effectively allows the CFTC to determine which tokens qualify. If the SEC adopts this rule as proposed, assets approved for futures trading may automatically become eligible for spot ETF packaging.
The divergent approaches to crypto regulation underscore the complexity of the crypto space and the challenges regulators face in striking a balance between fostering innovation and protecting investors. As legal and financial professionals navigate this evolving landscape, understanding these jurisdictional patterns and legal shifts can provide valuable insights into potential risks, compliance requirements, and market behaviour.
The following article summaries have been sourced from Decrypt, CryptoSlate, NewsBTC, and Crypto Briefing. Each summary includes a direct link to the original source.
The Algerian government has broadened its 2018 Financial Law to include a comprehensive ban on all cryptocurrency-related activities. This expanded legislation, enacted on July 24, prohibits crypto trading, ownership, and mining, with penalties ranging from fines to imprisonment. The law also covers the issuance and promotion of cryptocurrencies, as well as the offering of crypto-trading services. Violations could result in prison sentences of two to 12 months and/or a fine between 200,000 and 1 million dinars (approximately $1,500 to $7,700). More severe offences involving financial and organised crime could attract steeper penalties and sentences, determined on a case-by-case basis.
This move by Algeria contradicts the global trend of increasing crypto liberalisation. Despite the country's ban on crypto trading and ownership in January 2018, its cryptocurrency market has grown significantly. Experts argue that blanket bans on cryptocurrency activity are rarely effective and tend to drive the crypto ecosystem underground, fuelling grey markets where users lack safeguards and protections. This makes it more challenging for law enforcement agencies to track and ringfence illicit activity. Instead, they suggest introducing regulation that grants trading platforms legitimacy in exchange for complying with standards of transparency.
South Korea's financial regulators, the Financial Services Commission (FSC) and Financial Supervisory Service (FSS), have expressed concerns over crypto lending and margin trading products recently introduced by major exchanges Upbit and Bithumb. These services, which offer up to 4x leverage and enable short-selling through borrowed funds, have been flagged for their potential legal uncertainty and the risks they pose to investors. In response to these concerns, Upbit suspended its Tether lending service due to potential violations of Korea's Lending Business Act, while Bithumb adjusted its structure but retained its 4x leverage ratios.
The regulators' intervention targets services that allow users to short-sell crypto through borrowed funds, a practice that has alarmed regulators due to its similarity to risky trading mechanisms typically restricted in traditional markets. The FSC and FSS plan to establish a joint task force with exchanges to draft voluntary self-regulation policies. However, experts warn that stricter domestic rules could push users to offshore platforms with weaker compliance standards, potentially undermining Korea's ability to protect investors and shape its crypto market. This move could also expose users to platforms with weaker compliance standards, increasing risks of fraud, loss, or abuse.
Foreign visitors to South Korea can now convert stablecoins into cash at select crypto-enabled ATMs located at major tourist destinations. The ATMs, built and operated by South Korean blockchain firm DaWinKS in partnership with the Kaia DLT Foundation, support Kaia-issued USDT, a version of Tether’s stablecoin on the public blockchain formed from the merger of Klaytn and Finschia. The machines are integrated into infrastructure Koreans already use, such as convenience stores and transit hubs, and allow verified users to withdraw fiat in 85 currencies or load funds onto a local transit card. However, access is currently limited to foreign passport holders, leaving local residents excluded.
The rollout comes amid ongoing debates among lawmakers regarding stablecoin legislation in South Korea. The country's approach to stablecoins remains fragmented, with no unified regulatory framework in place. Recently, lawmakers from the nation’s ruling and opposition parties introduced competing bills, differing on reserves, issuer licensing, and enforcement mechanisms. Meanwhile, President Lee Jae-myung is advancing a crypto-friendly agenda that includes new legislation to regulate and expand stablecoin issuance. Under the proposed Digital Asset Basic Act, companies with at least 500 million won ($366,749) in equity could issue stablecoins, including a proposed won-pegged version aimed at curbing capital flight.
Bolivia is taking strides towards cryptocurrency adoption by forming a strategic alliance with El Salvador, a global leader in crypto adoption. The Central Bank of Bolivia (BCB) and El Salvador’s National Commission of Digital Assets (CNAD) signed a memorandum of understanding on July 30 to exchange expertise in digital asset regulation and blockchain technologies. This partnership aims to foster collaboration in areas such as blockchain intelligence, regulatory frameworks, and risk management tools. El Salvador, under President Nayib Bukele, has set a global precedent by being the first country to make Bitcoin legal tender and continues to expand its crypto reserves.
Bolivia plans to leverage the El Salvador experience to implement and oversee crypto-related policies as part of a broader effort to build safe, well-regulated crypto ecosystems. These ecosystems could potentially attract foreign investment and promote financial innovation. Bolivian authorities have recognized the growing importance of digital assets in cross-border transactions and value El Salvador's early crypto adoption in shaping their own policy path. This partnership comes after a significant policy change in Bolivia. In June 2024, the government passed Resolution 082/2024, overturning a long-standing crypto ban, legalizing digital assets for trading, and allowing electronic payment methods to support transactions. This resulted in a surge in crypto activity in Bolivia, with transaction volumes increasing from $46.5 million to nearly $294 million between June 2024 and June 2025.
In a move to further integrate crypto into its economy, Bolivia authorized its national oil company, YPFB, to use digital currencies for fuel imports. This decision is seen as a strategy to manage foreign exchange shortages and maintain fuel subsidies amid economic pressures.
The US Securities and Exchange Commission (SEC) may soon approve spot exchange-traded funds (ETFs) for digital assets that have a significant presence in the futures market, according to a recent filing from the Chicago Board Options Exchange (CBOE). Bloomberg ETF analyst Eric Balchunas revealed that the SEC's proposed standards suggest a key requirement for the digital asset to have traded as a futures contract for at least six months. Balchunas explained that Coinbase's derivatives platform would serve as the reference market for intending issuers, as it lists more crypto futures than the CME, making it a more comprehensive benchmark.
James Seyffart, Balchunas's colleague, added that this framework effectively allows the Commodity Futures Trading Commission (CFTC) to determine which tokens qualify. If the SEC adopts this rule as proposed, assets approved for futures trading may automatically become eligible for spot ETF packaging. Seyffart noted that there are no requirements related to market cap/size, underlying market liquidity, or float% in the framework. The rule would allow ETF issuers to list spot products for primary tokens with long-standing futures activity, including Bitcoin, Ethereum, Litecoin, XRP, Dogecoin, Cardano, Solana, Shiba Inu, Polkadot, Avalanche, Chainlink, Stellar, Hedera, and Bitcoin Cash. However, newer or more speculative tokens would need to follow a different path, potentially using the Investment Company Act of 1940, a more restrictive and complex route.
The article from CryptoSlate discusses the recent dominance of PumpSwap in the Solana decentralized exchange (DEX) market. PumpSwap has reportedly captured a significant 74% of the total trading volume on Solana's DEX platform, a notable feat given the surge in popularity of memecoins.
The article also provides information about CryptoSlate Alpha, a membership service that requires a one-time purchase using SOL, the native token of Solana. To complete the purchase, users must connect their Solana wallet. The membership provides access to CryptoSlate Alpha's features and services. However, the article emphasizes that by purchasing the membership, users agree to be bound by the terms and conditions of their third-party digital wallet provider and the Access Foundation. CryptoSlate disclaims any responsibility or liability related to the use, security, integrity, value, or legal status of the user's digital wallet.
Pudgy Penguins ($PENGU) is showing signs of resurgence after a sharp decline, indicating a possible shift in the meme coin trend. As $PENGU gains momentum, new entrants in the crypto market like Maxi Doge ($MAXI) are also showing interest. Notably, $PENGU has flashed a TD “9” buy signal at a key demand zone, a setup that traders often watch for early reversals. Other indicators such as a bullish RSI divergence, a surge in on-chain activity, and $PENGU reclaiming its spot as one of the top Solana meme coins, suggest a potential bounce back.
Analysts are bullish on $PENGU due to the TD Sequential “9” buy signal, a classic sign of trend exhaustion, often preceding sharp reversals. Its appearance at the $0.036 demand zone suggests that sellers may run out of steam. Momentum indicators and on-chain metrics reinforce this outlook. $PENGU has over 563K holders, recently surpassed $DOGE in trading volume on some exchanges, and daily active addresses have climbed to 20K. These figures highlight growing participation and suggest that $PENGU is regaining strength.
Meanwhile, meme coin season is heating up again, with $PENGU leading the charge. Now the top meme coin on Solana with a $2.4B market cap and trading at $0.0383, its recovery is reigniting interest across the sector. This has drawn attention to new presales, with Maxi Doge ($MAXI) emerging as one of the most-watched contenders in the current meme coin pipeline. $MAXI, which has already raised over $100K within days of launch, is attracting attention with its satirical edge and early staking rewards of a staggering 1,860%. As $PENGU and $MAXI gain momentum, the meme coin market could flip from quiet to chaotic quickly. However, investors are reminded that meme coins are highly speculative and can be extremely volatile, and they should always do their own research and never invest more than they can afford to lose.
A task force established by former President Donald Trump has released a comprehensive report advocating for clearer regulations on digital asset markets. The report, released on Wednesday, urges federal regulators to use their existing authority to establish more definitive rules surrounding the trading of digital assets, thereby promoting the adoption of innovative financial products. The White House has described the report as a crucial step towards positioning the United States at the forefront of the blockchain revolution.
Among the key recommendations of the task force is the urgent passage of the Digital Asset Market Clarity Act, which aims to fill regulatory gaps by granting the Commodity Futures Trading Commission (CFTC) authority to oversee spot markets for non-security digital assets. The report also stresses the importance of embracing decentralized finance (DeFi) technologies as an essential part of the evolving financial ecosystem. It further urges the Securities and Exchange Commission (SEC) and the CFTC to act swiftly, providing clarity on issues such as registration, custody, trading, and recordkeeping to enable federal-level trading of digital assets.
The report's recommendations follow Trump's recent signing of the GENIUS Act, a congressional bill aimed at regulating stablecoins, which is seen as a significant victory for the cryptocurrency industry. This new law establishes rules for US dollar-backed stablecoins, which proponents believe will pave the way for broader integration of digital assets into the financial system. The report also addresses other critical issues, including the need for clarity on Bank Secrecy Act obligations to strengthen anti-money laundering efforts and recommends that Congress classify digital assets as a new category subject to modified tax rules applicable to securities or commodities.
In a recent analysis of Dogecoin, a renowned chartist known as Cantonese Cat (@cantonmeow) indicated a rare bullish signal on the weekly chart. This signal, an Ichimoku cloud indicator, prompted Cantonese Cat to increase his stake in Dogecoin. The chart, captured on July 30, 2025, showed Dogecoin trading near $0.216 after a 10.23% decline in the week-to-date. The chartist noted a bullish Tenkan-Kijun cross, a classic Ichimoku signal, where the Tenkan-sen (conversion line) crossed above the Kijun-sen (base line). This event is often interpreted as the start of a momentum-led trend attempt.
However, the chart also showed Dogecoin trading beneath the weekly cloud (Kumo) projected ahead, with Senkou Span B near the $0.28 area. Signals that occur below the cloud are generally categorized as weaker than those above it, even when the Tenkan-Kijun cross is bullish. Despite this, the analyst remained optimistic, stating that the technical picture had not broken down and that Dogecoin was holding weekly Ichimoku Tenkan and Kijun support. The analyst emphasized that the coming weekly close relative to the Tenkan and Kijun would be the key reference for traders tracking whether this early signal could mature into a broader uptrend. At the time of the report, Dogecoin was trading at $0.22.
FTX and Alameda Research have staked 20,736 Ethereum (ETH), valued at approximately $79 million, following earlier ETH withdrawals from defunct crypto trading firms. This move was tracked by Lookonchain and comes after FTX and Alameda withdrew around 21,650 ETH from Bybit between December 17, 2024, and January 9, 2025. In addition, the entities unstaked over 3 million Solana tokens in March, valued at roughly $431 million, marking their largest unstaking event since they began token sales in November 2023.
These asset movements are part of FTX and Alameda's ongoing effort to liquidate their holdings in accordance with court-mandated weekly limits tied to their bankruptcy estate. Last week, FTX and FTX Recovery Trust announced plans to distribute $1.9 billion to creditors on September 30, in their third round of payouts. This follows a court decision to reduce the disputed claims reserve from $6.5 billion to $4.3 billion. However, creditors in China and certain other jurisdictions facing restrictions are expected to be excluded from the upcoming payment.
The Ether Machine, an Ethereum generation firm backed by Pantera Capital and Kraken, among other investors, has acquired 15,000 ETH on the 10th anniversary of Ethereum. The purchase was made at $3,809 per ETH, increasing the company's total holdings to 334,757 ETH. The acquisition was carried out through The Ether Reserve LLC, using part of the $97 million in cash proceeds from a previous private placement. The company has up to $407 million remaining for additional purchases, with more expected in the coming days.
Andrew Keys, Chairman and Co-Founder of The Ether Machine, stated that the company is committed to supporting and accumulating ETH for the long term, viewing it as the backbone of a new internet economy. Keys also donated $100,000 personally to the Protocol Guild, an initiative that supports Ethereum’s core protocol contributors. The Ether Machine is planning a Nasdaq public offering, aiming to raise over $1.6 billion. The company will list under the ticker ETHM, through a merger with Dynamix Corporation, and expects to hold over 400,000 ETH initially. The funds from the offering will be used to establish The Ether Machine as a major public Ether generation entity, focusing on generating returns through various Ethereum-based financial strategies, like staking, restaking, and DeFi participation.
The White House has published a comprehensive report on digital assets, outlining a national strategy to establish the US as a global leader in blockchain, crypto markets, and tokenized finance. The report, titled "Strengthening American Leadership in Digital Financial Technology," proposes a unified federal framework for digital asset licensing, blockchain-driven public-private initiatives, and AI-powered oversight for decentralized finance. However, it does not provide new details on the government’s planned Bitcoin reserve, merely reiterating language from President Trump’s January executive order without specifying next steps or implementation timelines.
The report, which consolidates input from various federal agencies including the Treasury, Commerce, the SEC, and the CFTC, supports federal R&D funding for open-source smart contracts and on-chain data systems. It also promotes AI-driven compliance tools to improve supervision in decentralized markets and backs a safe harbor for startups to experiment without immediate regulatory constraints. The report further urges Congress to affirm the right to self-custody digital assets and recommends granting the CFTC authority over non-security spot markets. It also calls for updated crypto tax guidance and supports expanding mobile payment rails and digital ID systems to improve access and boost national competitiveness. This report, along with the recent signing of the GENIUS Act and the House passage of the Clarity Act, signifies a shift toward a comprehensive and coordinated national crypto policy.
