Thailand’s Securities and Exchange Commission (SEC) announced on Thursday that it will block access to five major cryptocurrency exchanges such as Bybit, 1000X, CoinEx, OKX, and XT.COM because they do not have licenses to operate in the country. Starting June 28, these platforms will be inaccessible to users in Thailand. The SEC said the move is part of a broader effort to combat money laundering and protect everyday investors from using unauthorized digital asset services. All five platforms have been accused of offering crypto trading services to Thai users without official approval. As a result, legal proceedings have been initiated,…

India’s cryptocurrency leaders, as reported by Financial Times, are adding pressure on the Indian government to restructure taxes introduced in 2022, which drove 90% of domestic trading volume to offshore platforms. One of industry’s primary demands is the rollback of a 30% capital gains tax and a 1% tax deducted at source (TDS) on every crypto transaction.  India’s inconsistent and ambiguous stance on crypto  Whilst India has not passed any specific legislation banning or regulating crypto in itself, the Reserve Bank of India (RBI) imposed a ban on banks dealing with crypto related businesses in 2018. RBI also introduced a…

Florida became the first state in the United States to bring forth a bill to propose legislation aimed at eliminating capital gains tax on Bitcoin.  Capital gains tax typically applies to assets including Real estate, Stocks and bonds and Cryptocurrency etc.  The proposed bill has been put forward with digital asset integration into Florida’s financial framework in mind. It is likely to encourage wider acceptance of Bitcoin across the United States.  The bill is a great indication of increasing interest of U.S. states in aligning tax legislation with the evolving digital economy and  Florida’s aggressive push to position itself as…

According to reports, the National Bank of Kazakhstan introduced a new regulatory framework that facilitates citizens to legally purchase cryptocurrency through approved and licensed exchanges. This move is expected to enhance transparency and reduce reliance on unregulated foreign platforms. It also enforces strict oversight and licensing requirements for crypto service providers in the country.  The move also comes after the withdrawal of approximately $15 billion in crypto assets from the country due to inadequate regulatory oversight.  A new International Transport and Logistics Hub? In related regional developments, the Kyrgyz-Kazakh Business Council convened in Bishkek to discuss key bilateral cooperation projects.…

The UK Court of Appeal has dismissed the majority of a $13.3 billion class action lawsuit against crypto exchange Binance, delivering a major blow to Bitcoin SV (BSV) investors. These investors claimed that Binance’s 2019 delisting of the token destroyed its growth potential. On May 22, the court rejected the investors’ “foregone growth effect” theory, which argued that BSV could have reached price levels similar to Bitcoin if it had remained listed on major trading platforms. The claim demanded Binance pay an amount equivalent to 352 times the original value of BSV. However, the court found this unrealistic and dismissed…

A US man has been sentenced to 6 years in prison and ordered to forfeit millions of dollars after operating a fraudulent cash-to-Bitcoin conversion service. On May 22, the Boston US Attorney’s Office announced that Federal Judge Richard Stearns sentenced Trung Nguyen, from Danvers, Massachusetts, to 6 years in prison, followed by 3 years of supervised release, and ordered him to pay $1.5 million in penalties. How Did Nguyen Facilitate Illicit Transactions? Prosecutors said Nguyen operated an unlicensed money-transmitting business called “National Vending” between September 2017 and October 2020. He allegedly used techniques learned from an online course to evade…

A vote held in the U.S. The Senate on Monday, May 19th, 2025 has exposed deep disagreements among the members of the Democratic party over a bill about “stablecoins” or digital money.   In an upsetting move for the progressive Democrats and activists, Democratic senators joined Republicans to move the GENIUS Act forward, allowing it to be debated in the full Senate. The vote came just weeks after some of those same Democrats had pulled back their support for the bill citing concerns about President Donald Trump using cryptocurrency to hide money or avoid financial rules. Despite the changes being made…

The famous American entrepreneur, Michael Saylor is facing legal troubles after a lawsuit was filed against his well-known firm, MicroStrategy, on May 16. According to the filing, the plaintiff, Anas Hamza, has accused the company of violating federal securities laws by misrepresenting key aspects of its Bitcoin investment strategy. Hamza cited multiple violations of the Securities Exchange Act, alleging that investors were misled by disclosures that omitted or distorted material information. In the lawsuit, Hamza names Michael J. Saylor, along with Phong Le, the President and Chief Executive Officer, and Andrew Kang, the Chief Financial Officer, as responsible parties. Hamza…