# Сопутствующие статьи по теме Regulation

How Will the Crypto Industry Evolve in 2026?

The crypto industry is expected to undergo significant transformation in 2026, moving away from speculative hype and toward real-world utility and institutional integration. Bitcoin continues to behave like a high-volatility institutional asset, influenced by macro conditions and ETF-driven capital flows. Regulatory clarity is advancing, with the U.S. implementing stablecoin and market structure laws, while Hong Kong introduces licensing regimes for stablecoin issuers and welcomes compliant crypto platforms like HashKey on its stock exchange. Key trends include the growth of stablecoins beyond $300B in circulation, prediction markets gaining traction for event-based forecasting, and the tokenization of real-world assets like equities. Emerging areas highlighted by a16z include AI agent identity verification (KYA), privacy-focused blockchains, micro-payment protocols like x402, and staked media models where content is backed by financial stakes. Industry experts emphasize that crypto is maturing beyond a closed ecosystem, integrating into global payments, remittances, and financial infrastructure. While short-term volatility may persist, the long-term direction points toward a more regulated, useful, and structurally embedded role in the global economy.

比推12/19 12:36

The Rise and Fall of Binance's Hegemony: The Stablecoin War from BUSD's 'Unification' to $U's 'Dominance'

"Binance's Stablecoin Wars: From BUSD's 'Unification' to $U's 'Domination'" This article chronicles Binance's evolving strategy in the stablecoin arena, tracing its journey from aggressive dominance to a more sophisticated, aggregator model. The story begins with the ambitious launch of BUSD, a Paxos-issued stablecoin born from a partnership between Binance's CZ and Paxos's Richmond Teo. Binance's most aggressive move came in 2022 with a "liquidity unification" blitz, automatically converting user balances of USDC, USDP, and TUSD into BUSD and removing their trading pairs. This tactic briefly propelled BUSD to a $23 billion market cap. However, its downfall was swift. A critical structural flaw was its "Binance-Peg BUSD," an unregulated, shadow version on the BNB Chain that sometimes lacked sufficient collateral. This led to a regulatory "Valentine's Day massacre" in February 2023, when the NYDFS ordered Paxos to stop minting BUSD, effectively killing the project. In the subsequent vacuum, Binance first promoted the Hong Kong-based FDUSD as a transitional solution and created BFUSD, an internal, yield-bearing "reward asset" for use as futures collateral. The narrative then shifts to Binance's latest and most surprising play: United Stables ($U). This new "meta-stablecoin" represents a strategic evolution. Instead of trying to eliminate rivals like USDT and USDC, $U aggregates them, backing itself with a basket of these major stablecoins. Notably, it also includes USD1, a stablecoin from the Trump-linked World Liberty Financial project, led by none other than Richmond Teo. A key innovation of $U is its design for the "AI economy," featuring gasless transactions (EIP-3009) to facilitate machine-to-machine micropayments. The article concludes that Binance's strategy has evolved from the "霸道" (hegemonic) force of BUSD to the "大同" (greater unification) approach of $U, which seeks to absorb existing liquidity rather than destroy it, while positioning itself for the future frontier of AI-driven finance.

marsbit12/19 12:13

Operation Chokepoint 2.0 Concludes as Fed Withdraws Crypto Restrictions: A Long-Overdue Institutional Shift

The article discusses the end of "Operation Chokepoint 2.0," a coordinated U.S. regulatory effort to restrict banking services for the cryptocurrency industry in 2023. Internal FDIC documents confirmed this de-banking campaign, which increased regulatory friction and limited crypto firms' access to banking services following the collapse of several banks. A key tool was a Federal Reserve policy that classified crypto-related activities—such as stablecoin services, on-chain settlement, and crypto custody—as "high-risk innovation," subjecting them to additional scrutiny. Recently, the Federal Reserve officially revoked this restrictive policy, signaling a shift in regulatory approach. This change is not due to a sudden pro-crypto stance but reflects the growing recognition that isolating the industry is increasingly impractical. Stablecoin adoption has expanded, on-chain dollar settlements have become more frequent, and capital flows have continued outside the traditional banking system, creating potential systemic risks. The case of Custodia Bank, which was denied a master account and access to the dollar clearing system, exemplifies the impact of these policies. Custodia has since sought a rehearing, and its legal challenge is seen as a test of whether regulators are moving from a default rejection to a compliance-based准入 approach. Concurrently, the SEC issued guidance on how broker-dealers should custody crypto assets, detailing requirements for private key management, blockchain risk assessment, and response to extreme events like 51% attacks. Other agencies, like the OCC, have also expanded recognition of stablecoins and custody services. The overall trend indicates a regulatory pivot from blocking crypto to managing it structurally. Activities are being modularized into manageable components—settlement, custody, clearing, and risk control—rather than being treated as a monolithic high-risk category. The shift acknowledges that on-chain dollar flows are now a integral part of global finance, and regulators must engage with them rather than remain absent. The real impact will be seen in who is permitted to participate in the next phase of the dollar settlement and custody system.

marsbit12/19 11:30

US SEC Issues Key Crypto Custody Guidelines For Broker-Dealers

bitcoinist12/19 11:03

Fidelity macro lead calls $65K Bitcoin bottom in 2026, end of bull cycle

Fidelity's global macro director Jurrien Timmer suggests Bitcoin may have peaked at its $125,000 all-time high in October, marking the end of its typical four-year halving cycle. He predicts a potential downturn with support level around $65,000–75,000 and a possible "off year" for Bitcoin in 2026. This view contrasts with analysts like Delphi Digital's Tom Shaughnessy, who expects new all-time highs in 2026 once the market recovers from October’s major liquidation event. Regulatory progress and institutional adoption are cited as potential bullish drivers, though current social sentiment remains bearish as Bitcoin dipped below $85,000. Data also shows "smart money" traders are net short on Bitcoin but long on Ethereum.

cointelegraph12/19 10:52

Bybit relaunches UK platform via Archax under FCA promotion rules

Bybit is returning to the UK market after a two-year absence, launching a new platform under the FCA’s financial promotion rules via a partnership with Archax, an FCA-authorized firm. The exchange will provide spot trading on 100 pairs and a peer-to-peer service, with a strong emphasis on AML and KYC compliance. Products are tailored for the UK, excluding derivatives and leveraged offerings, and include clear risk warnings about potential losses and the lack of investor protection schemes. The move comes amid declining crypto adoption in the UK, raising questions about whether Bybit’s re-entry represents responsible innovation or regulatory arbitrage. Key operational and consumer protection details remain undisclosed.

cointelegraph12/19 10:15

Bitcoin Price Will Hit All-Time High in 2026, Bitwise Predicts, Will Be ‘Less Volatile’ Than Nvidia

Bitwise predicts Bitcoin will reach a new all-time high in 2026 and become less volatile than high-growth tech stocks like Nvidia, citing growing institutional adoption and regulatory clarity. The firm expects Bitcoin's volatility to decline further due to a maturing market structure and increased participation from long-term investors. Additionally, Ethereum and Solana are also forecasted to hit new record highs, especially if the U.S. passes the CLARITY Act. Bitwise highlights stablecoins and tokenized financial assets as key trends driving this growth. However, near-term risks remain, with technical analysis suggesting a potential short-term correction for Bitcoin to the $70,000–$72,000 range before a possible rebound.

ccn.com12/19 09:55

Shanghai Headquarters of the Central Bank Issues Another Warning: Digital Yuan Scam "Traps" Evolve, How Can the Public Strengthen Their Defenses?

The People's Bank of China Shanghai Headquarters has issued a renewed warning about the rise of sophisticated scams exploiting the name of the digital yuan (e-CNY). Fraudsters are luring victims through social media and短视频 platforms with fake recruitment ads for "official digital yuan promotion agents," promising high returns like "exchange subsidies" and "commission rebates." These criminal operations use well-organized online groups, fake official documents, and fraudulent "training sessions" to convince targets to convert funds into digital yuan and deposit them into controlled wallets. The central bank emphasized that the digital yuan is a legal tender meant for payments, has no investment or speculative value, and warned the public to avoid high-return promises, referral schemes, unknown links, and unsolicited group invitations. The scams thrive on public misconceptions: confusing the state-backed digital currency with speculative cryptocurrencies, misunderstanding its official two-tier operating structure (PBOC → authorized banks), and misinterpreting technical features like programmability as investment opportunities. Authorities have responded with precise public guidance—the "Four Don’ts"—and enhanced inter-department coordination. Beyond combating fraud, the note highlights the digital yuan’s strategic role as a compliant foundation for future digital asset ecosystems, particularly in the tokenization of real-world assets (RWA), where it could enable efficient, transparent, and regulated transactions. Maintaining public trust is crucial for its long-term adoption and integration into the real economy.

marsbit12/19 09:29

Crypto’s second act: Tokenization and regulation pulling traditional finance into Web3

Sponsored content from OKX discusses the convergence of crypto and traditional finance, driven by tokenization and regulation. OKX positions itself as a global exchange and regulated infrastructure partner, using "dual-stack" custody to help institutions integrate with crypto. The article highlights a fundamental shift in trust from intermediaries to verifiable blockchain data. Key trends include the tokenization of real-world assets (RWAs) for improved liquidity and access. Clear regulations in jurisdictions like the UAE and Singapore are seen as enablers, providing certainty for institutional participation. The line between traditional finance and crypto is blurring, with a collaborative future combining the scale of traditional finance with the innovation and speed of crypto.

cointelegraph12/19 09:10

Farewell to 'Super Connector': Hong Kong's 'Global Hub' Ambition, What Is It Competing with Singapore and New York For?

Hong Kong is re-evaluating its role as a "super-connector" between China and global markets, facing intense competition from rivals like Singapore and New York. Despite strong market data—including a 120% surge in average daily turnover and a 709% jump in IPO fundraising in early 2025—a strategic shift is underway. The Hong Kong Financial Development Council’s report advocates transitioning from a passive gateway to an active "global capital hub," emphasizing a new "4Is" framework: Issuers, Investors, Intermediaries, and Instruments. Key challenges include diversifying issuers beyond China, attracting long-term "patient capital," deepening bond and derivatives markets, and accelerating digital infrastructure upgrades like T+1 settlement and tokenization. The report highlights the need for regulatory reforms, such as easing dual-class share rules, to compete for next-gen tech listings. However, Hong Kong must navigate geopolitical tensions, market liquidity issues, and balancing innovation with stability to succeed in this transformation.

marsbit12/19 08:53