Author: Kelvin Munene

Pakistan has lifted its seven-year crypto restriction and now allows banks to provide services to licensed virtual asset firms. Banks still cannot trade, invest in, or hold crypto using their own funds or customer deposits, while all approved activity must follow strict AML, KYC, and client fund segregation rules Pakistan has opened formal banking access for licensed crypto firms after the State Bank of Pakistan replaced its 2018 restrictions with a new framework for regulated entities. The change allows banks and other SBP-regulated institutions to open accounts for virtual asset service providers licensed by the Pakistan Virtual Asset Regulatory Authority.…

The SEC approved FINRA’s plan to remove the $25,000 minimum balance rule for pattern day traders and replace it with a real-time intraday margin system The U.S. Securities and Exchange Commission approved FINRA’s plan on April 14 to remove the $25,000 minimum equity requirement tied to day trading in margin accounts. The change also ends the long-standing “pattern day trader” label, which had limited customers with smaller accounts from making more than four day trades within five business days. In its place, regulators approved a new intraday margin framework based on a trader’s real-time exposure. SEC approves end of $25,000…

The U.S. Justice Department has opened a compensation process for OneCoin victims, with more than $40 million in forfeited assets available. Eligible claimants who bought OneCoin between 2014 and 2019 and suffered net losses can file petitions by June 30. The U.S. Department of Justice has opened a formal compensation process for victims of the OneCoin fraud. The program covers people who bought the token between 2014 and 2019 and suffered a net financial loss. More than $40 million in forfeited assets is now available, although reported losses from the scheme exceed $4 billion worldwide. DOJ opens remission process for…

The Bank of Korea wants crypto exchanges to add circuit breakers after Bithumb mistakenly sent 620,000 BTC instead of 620,000 won. The error triggered heavy selling, and the central bank now wants stronger safeguards and tighter exchange controls. South Korea’s central bank is calling for tighter controls on crypto exchanges after a major Bitcoin transfer error at Bithumb shook the local market. In a payments report released on Monday, the Bank of Korea said lawmakers should consider rules that require exchanges to pause trading during sudden price moves. The proposal follows a February mistake in which Bithumb sent customers 620,000…

Scammers are increasingly combining AI buzzwords with crypto promises to lure unsuspecting investors. A Chandigarh resident lost over Rs 37 lakh to an elaborate cryptocurrency trading scam after fraudsters used fake certificates and doctored transaction screenshots to gain his trust. Narender Ahlawat a resident of Sector 44 Chandigarh believed he had found genuine investment opportunity. Fraudsters claiming to represent a company called TRD-NFT reached out to him promising daily returns of 2% through AI-powered crypto trading. The pitch was polished and convincing. Fake certificates and fabricated transaction records made the scheme look credible. Ahlawat transferred $40,704 which is roughly Rs…

Japan Approves Bill to Classify Crypto as Financial Instruments and Tighten Rules Under FIEA Japan has approved a bill to classify crypto assets as financial instruments under the Financial Instruments and Exchange Act. The move places digital assets under a stricter legal framework covering trading conduct, disclosure and exchange activity. It also reflects how Japan is updating crypto rules as the market draws more investors and larger financial firms. Crypto moves into Japan’s investment framework Japan’s cabinet approved amendments to the Financial Instruments and Exchange Act on Friday. Under the revised framework, crypto assets will be treated more like regulated…

US Treasury Secretary Scott Bessent Urges Congress to Pass CLARITY Act as Senate Debate Stalls U.S. Treasury Secretary Scott Bessent urged Congress to pass the CLARITY Act, saying the United States needs clear federal rules for digital assets. He said uncertain regulation has made it harder for crypto firms to operate in the country and has pushed more activity to markets with clearer legal standards. His latest appeal comes as lawmakers continue to debate the bill in the Senate after the House approved its version in July 2025. Bessent said the current framework leaves digital asset companies without enough certainty…

SWIFT Expands Blockchain Ledger Initiative With more than 40 Banks and 2026 Go-Live Plan SWIFT is advancing its blockchain ledger project as banks increase work on tokenized payments and faster cross-border settlement. The network says more than 40 financial institutions are involved, while the first version is being built for real-world use in 2026. The effort comes after SWIFT’s broader payments upgrades and its ISO 20022 migration milestone in late 2025. SWIFT moves blockchain ledger project toward 2026 launch SWIFT said on March 30, 2026, that it had completed the design phase of its blockchain-based shared ledger and had started…

India reviews past crypto tax filings as Section 148A notices flag unreported income and data gaps India’s tax authorities are increasing their review of past cryptocurrency filings after data checks flagged possible mismatches in reported income. Some traders have received notices under Section 148A of the Income Tax Act, a provision that allows officials to seek an explanation before reopening earlier returns.  Much of the current review appears linked to the financial year 2021–22, with exchange activity, bank transfers, and filed tax returns being compared more closely. India crypto tax notices focus on past filings Indian authorities are sending Section…

HypurrFi warns users to avoid its website after a suspected domain hijack scare. HypurrFi has warned users to stay away from its website and lending platform after it detected a possible domain hijacking. The DeFi protocol said the issue appears tied to its front-end domain and not its core blockchain systems. It also said there is no evidence at this stage that user funds have been affected. HypurrFi warns users to avoid its platform HypurrFi issued a public alert after spotting what it described as a possible compromise of its main domain. The team asked users not to visit the…