The Czech Republic’s ruling Civic Democratic Party has survived its fourth no-confidence vote in three years, after a political scandal over their involvement in a $45 million Bitcoin donation linked to a convicted criminal. The motion, brought forward by opposition parties, arose from a controversial cryptocurrency donation made to the Ministry of Justice on May 27 by Tomáš Jiřikovský, a man previously convicted of drug trafficking, arms offenses, and financial crimes. Jiřikovský donated 1,561 Bitcoin, worth approximately 1 billion Czech koruna ($45 million), after a court ruling returned his previously seized digital devices.  The transaction, although legally permissible, raised ethical…

The Thai Cabinet approved a sweeping tax exemption on capital gains from cryptocurrency transactions. This initiative forms part of Thailand’s broader strategy to establish itself as a leading global hub for digital assets. The tax exemption eliminates personal income taxes on profits from cryptocurrency sales via licensed digital asset service providers. It will be in effect for five years, from January 1, 2025, to December 31, 2029. In a statement, Thai Deputy Finance Minister Julapun Amornvivat stated that the measure underscores the government’s ambition to position Thailand as “one of the world’s leading financial hubs.” “This decision solidifies our commitment…

In a surprising move, X has suspended multiple high profile accounts linked to the Solana memecoin ecosystem, including the official handle of popular launchpad Pump.fun and the personal account of its founder, Alon Cohen. As of late Monday evening, both the “@pumpdotfun” and Cohen’s “@a1lon9” accounts remained inaccessible, displaying the standard “user not found” error message.  The suspensions appear to have begun around 7:30 p.m. UTC and were quickly flagged by users within the crypto community. Also affected were a host of other memecoin-related accounts and services including GMGN, Bloom Trading, BullX.  A user known as Otto compiled a growing…

Coinbase and Gemini are about to get official approval to operate in the European Union from Luxembourg and Malta, as of June 16. This move follows new EU rules called MiCA, which let crypto companies work across all 27 EU countries with just one license. Coinbase said it will grow its team in Luxembourg by hiring over 20 people this year to improve its operations and meet rules. A company spokesperson said Luxembourg is a trusted and respected financial center. “Luxembourg is a high-bar, well-respected global financial centre and confirmed plans to increase its headcount in the country by more…

Vietnam passes a groundbreaking law recognizing crypto assets, aims to become a digital tech powerhouse, positioning itself as the first country globally to enact a standalone law dedicated entirely to the digital technology industry. The law, scheduled to take effect on Jan. 1, 2026, was issued by the National Assembly of Vietnam on June 14. It draws a comprehensive legal framework for digital assets, artificial intelligence, and advanced technologies. The new framework officially recognizes digital assets and divides them into two main types: virtual assets and crypto assets. These are both digital and use encryption to work, but the law…

The Czech government is reportedly facing a no-confidence vote next week after a $45 million Bitcoin auction, linked to a convicted criminal, sparked political turmoil and the resignation of Justice Minister Pavel Blažek. Alena Schillerová, a member of the country’s leading opposition party ANO, submitted a motion on Thursday, alleging corruption and demanding accountability over the controversial sale of nearly 500 Bitcoin.  The cryptocurrency was originally seized from Tomáš Jirákovský, a convicted online black market operator, drug trafficker, and arms dealer. Minister Blažek’s Resignation  The Czech Justice Ministry confirmed on May 28 that it had auctioned the confiscated Bitcoin for…

The U.S. The Department of the Treasury has sanctioned a Philippines based technology firm Funnull Technology Inc and its administrator for allegedly facilitating cryptocurrency scams. These scams have reportedly defrauded American victims over $200 million. According to a statement published Thursday, the Treasury’s Office said it had imposed sanctions on Funnull Technology Inc, a company based in the Philippines, and Liu Lizhi, a Chinese national who served as the firm’s administrator.  The company is accused of providing critical infrastructure for international fraud operations, including the hosting of deceptive websites tied to so-called “pig butchering” scams. How did Funnull Technology facilitate…

India is said to release a much anticipated discussion paper on cryptocurrency regulation in June. This signals a possible policy shift as global digital asset markets heat up.  The policy paper is expected to lay the foundation for public consultation and future regulatory action. It would also be significantly influenced by guidelines from the International Monetary Fund (IMF) and the Financial Stability Board (FSB). Staunch Criticism from the Supreme Court and Crypto Industry  Interestingly, the discussion paper also coincides with the Indian Supreme Court’s heavy criticism of the government regarding prolonged inaction in regulating the crypto sector. Justices warned that…