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South Korean financial authorities are escalating their efforts to regulate the domestic cryptocurrency market by targeting overseas virtual asset exchanges that operate without proper registration. According to a local report, the Financial Intelligence Unit (FIU), under the Financial Services Commission, is preparing sanctions, including potential site access blocking, against several prominent international exchanges that have been servicing Korean users illegally. This move underscores South Korea’s commitment to enforcing the Specific Financial Information Act (Special Financial Information Act), which mandates that all virtual asset service providers (VASPs) operating within the country must register with the FIU. This legislation aims to protect Korean investors and prevent illicit financial activities within the digital asset space. The FIU is reported to have identified several exchanges, including Bitmex, Kucoin, Coinw, Bitunix, and KCEX, as targets for these sanctions. These platforms have reportedly been operating Korean-language websites, actively marketing to Korean investors, and providing customer support in Korean, all without the required registration. “These exchanges are clearly targeting Korean users, offering localized services without complying with our regulations. This poses a significant risk to our investors and undermines the integrity of our financial system,” stated an unnamed FIU official. In 2022, the FIU took similar action, requesting the Korea Communications Standards Commission to block access to 16 unregistered overseas exchanges. This initiative, coupled with cooperation from domestic card companies to restrict credit card transactions with these exchanges, led to the withdrawal of several platforms from the Korean market. 免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。

Swiss National Bank (SNB) Vice President Martin Schlegel clarified Thursday in Zurich that Switzerland’s central bank has no intention of adding bitcoin or other cryptocurrencies to its reserves. His statement came amid mounting international attention on digital assets, particularly after U.S. President Donald Trump recently advocated for the United States to establish a strategic crypto reserve. Despite the shift in sentiment from some political figures, Schlegel reaffirmed the SNB’s longstanding position against digital currency holdings. Citing concerns over extreme price swings, insufficient safeguards, and a weak legal foundation, Schlegel told Bloomberg Television: We do not have plans to buy crypto assets. He emphasized that the SNB’s foreign-exchange reserves are strictly allocated for implementing monetary policy and that digital currencies fall short of supporting this role. The central banker elaborated: “For example, it’s the preservation of value. And as you know, cryptocurrencies have large fluctuations in value, so this is not a given.” He also raised technical doubts, pointing out that cryptocurrencies “are basically software” and are susceptible to bugs, further undermining their reliability. While the SNB remains opposed, the United States is heading in a different direction. President Trump has made a historic pivot by signing an executive order that creates a U.S. Strategic Bitcoin Reserve and a national digital asset stockpile, repurposing confiscated cryptocurrencies into a “digital Fort Knox.” This move reflects a broader federal shift toward embracing crypto infrastructure, with Congress currently advancing multiple bills aimed at integrating blockchain technologies into government systems. Moreover, multiple states are spearheading similar efforts, each proposing legislation to invest state funds into bitcoin and other digital assets. These developments contrast sharply with the SNB’s approach, which remains deeply skeptical of cryptocurrency’s role in central banking. 免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。

Ripple submitted its response Friday to the U.S. Securities and Exchange Commission (SEC) Crypto Task Force, urging the agency to shift away from past enforcement-centric strategies and instead adopt clear, legally grounded guidance. The company criticized the SEC’s prior actions for generating uncertainty and misapplying securities law to digital assets. Ripple wrote: To state it even more plainly, the SEC lacks authority over most digital assets and, in turn, most transactions involving digital assets. The letter was signed by Stuart Alderoty, Chief Legal Officer; Sameer Dhond, Ripple General Counsel; and Deborah McCrimmon, Deputy General Counsel. Alderoty reinforced Ripple’s position on social media platform X, stating: “Today, Ripple submitted its response to Commissioner Hester Peirce’s Feb. 21 statement: ‘There must be some way out of here,’ calling for public input on crypto taxonomy rules. That Dylan lyric continues: ‘There’s too much confusion, I can’t get no relief.’ The prior administration thrived on confusion to mask its failure to follow the law. We urge the SEC’s Crypto Task Force to stay focused: return to first principles, stay within its statutory bounds, and finally bring relief through clarity.” Ripple praised recent SEC staff guidance on meme coins and proof-of-work mining, calling them concise examples of how the agency can provide effective oversight within existing legal frameworks. The crypto firm also addressed how decentralized finance functions should be viewed under federal securities laws. It argued that staking and yield mechanisms operating on public blockchains are materially different from securities. The letter states: There is an opportunity for the Commission to confirm now what is clear: arrangements for earning yield directly from the programmatic functioning of a public, permissionless network should not be considered securities. “Such arrangements do not involve an investment with a definable counterparty, unlike traditional securities, which are premised on a contractual agreement between an investor and an issuer who undertakes managerial efforts to generate profits,” Ripple emphasized. The firm reiterated its support for safe harbor provisions and regulatory sandboxes and noted that its submission follows the SEC’s decision to drop its appeal in the ongoing legal dispute involving Ripple and XRP. 免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。

The Digital Dollar Project, a non-neutral, non-profit forum focused on exploring digital innovation in money and future-proofing the U.S. dollar, has called for the modernization of the networks surrounding the currency to preserve its current status. In its recently published white paper, the project remarks that while the dollar is still peerless in its role, it moves on top of technology reaching obsolescence in an increasingly digital world. The organization envisions a future when not one, but many dollar-linked digital alternatives combine to keep the dollar relevant both in retail transactions as well as in international trade settlements. Among these are tokenized deposits, stablecoins, foreign CBDCs, and centralized and decentralized digital assets, with each serving different use cases in a better way. Note that the project does not promote a dollar the establishment of a Central Bank Digital Currency (CBDC) in the U.S., as it has been rejected by the current administration in the “Strengthening American Leadership In Digital Financial Technology” executive order. The document, issued in January, states that the Trump administration will be “taking measures to protect Americans from the risks of Central Bank Digital Currencies, which threaten the stability of the financial system.” Read more: Trump’s Executive Order Rejects CBDCs, Considers Crypto Reserves, and Aims to Revamp Regulations Cristopher Giancarlo, former chairman of the United States Commodity Futures Trading Commission (CFTC) and co-founder of the Digital Dollar Project, highlighted the dollar’s obsolescence problem as new instruments rise. “Examination and exploration of US dollar modernization is critical to America’s ability to compete in the global economy of the digitally networked twenty-first century,” he assessed. The project also calls to re-assess all the impediments that surround today’s use of the dollar, reasserting “the values of freedom of movement – free from undue surveillance, censorship, and control whether by governments, banks or technology platforms.” 免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。

Meme coins, one of the latest verticals in the cryptocurrency market, do not have the staying power to stand the test of time. This is the opinion of Cathie Wood, the founder, CEO, and chief investment officer of ARK Investment Management, a company with billions in assets under management (AUM). In a recent interview with Bloomberg Television, Wood sounded the alarms to warn meme coin investors about the possible debacle of these tokens, part of a trend that pumped thousands of these assets to the market, with many plunging to zero in hours. Wood stated that blockchain and artificial intelligence were creating these tokens that would be “worthless” in the end. She noted that none of her private funds were investing in meme coins, that are not considered securities by the Securities and Exchange Commission (SEC) and are, until now, unregulated. “If I have one message for those listening who are buying meme coins: buyer beware,” Wood declared, adding that: There’s nothing like losing money for people to learn, and they’ll learn that the SEC and regulators are not taking responsibility for these meme coins. The current meme coin market cap reaches $53 billion, having only 5 projects in the top 100, with Dogecoin, one of the first meme coins, leading the charge. Nonetheless, Trump, the official meme coin of the President of the United States, a recent project, has managed to find a foothold among these, even with a somewhat disappointing price action. This is the kind of token that will still exist in the future, according to Wood, becoming digital collectibles in the end. Nonetheless, Wood remarked on her bullishness in bitcoin and other digital assets, stating that use cases leveraging them are multiplying and might become more relevant in the future. Read more: Ark Invest’s Cathie Wood Calls Bitcoin a ‘New Bretton Woods’ Amid Global Currency Uncertainty 免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。