ChainCatcher news, as the presidential election on June 3 approaches, the South Korean Democratic Party has made cryptocurrency regulation one of the core campaign issues, establishing a "Digital Asset Committee" aimed at centralizing the authority for cryptocurrency policy-making in the presidential office. The committee held its first meeting on May 13 at the National Assembly in Seoul, bringing together legislators, government officials, and representatives from local exchanges such as Upbit, Bithumb, Coinbit, and Gopax. Committee Chairman Min Byeong-deok stated that the current "one exchange, one bank" system restricts the development of cryptocurrency businesses and needs reform.The committee is drafting key legislation known as the "Second Phase Bill," which aims to establish a digital asset framework for South Korea, covering regulatory innovation and user protection. Additionally, the regulation of stablecoins has become a focal point of discussion, especially stablecoins pegged to the Korean won. Democratic presidential candidate Lee Jae-myung advocates for a swift market launch and proposes the issuance of a won-pegged stablecoin. However, the Bank of Korea (BOK) insists that discussions must involve early-stage participation to prevent instability in national monetary policy.This reform aims to promote the development of the cryptocurrency industry and attract the support of young voters. Reports indicate that over 16 million people in South Korea are involved in cryptocurrency trading.

ChainCatcher news, at the first cryptocurrency industry roundtable held by the U.S. Securities and Exchange Commission (SEC), former SEC Cyber Enforcement Office Director John Reed Stark strongly opposed modifying existing securities regulations for digital assets. He stated that the Securities Act of 1933 and 1934 should not make concessions for cryptocurrencies, and digital assets should continue to be regarded as securities."People who buy cryptocurrencies are not collectors; they are investors. The SEC's duty is to protect investors," Stark said. He pointed out that crypto companies hire top law firms globally to try to delay enforcement actions, but they have lost in almost all cases. Stark also claimed that, compared to past technological revolutions like the iPhone, he has not seen any real innovation in digital assets.For a long time, Stark has been a staunch critic of the cryptocurrency industry, previously describing the partnership between the NBA team Dallas Mavericks and the crypto company Voyager as "collaborating with heroin manufacturers." He supports former SEC Chairman Gensler's "enforcement-based regulation" and insists that the crypto industry must comply with existing laws rather than asking the law to make way for it.

ChainCatcher news, according to Bitcoin.com, Binance CEO Richard Teng recently stated that under the regulatory changes led by Trump, strategic initiatives in the U.S., and the momentum supporting cryptocurrencies, he predicts that Bitcoin will reach an all-time high in 2025.He emphasized that the policies of the Trump administration could bring the much-needed regulatory clarity, driving the next phase of growth for cryptocurrencies like Bitcoin. Teng also pointed out that the support from U.S. lawmakers and regulators for cryptocurrencies is increasing, and legislation regarding token issuance, trading, and asset management may move forward. He commented, "Compared to the past, both the House and the Senate now support cryptocurrencies."

ChainCatcher news, the latest report released by Tiger Research points out that despite South Korea's leading global position in cryptocurrency trading volume, the development of the country's Web3 industry is hindered by unclear regulations and a lack of specific guidance, resulting in accelerated outflow of capital, talent, and enterprises. The report mentions that in 2024, the transfer of South Korean crypto assets to overseas exchanges and DeFi platforms is expected to increase by 2.3 times year-on-year, primarily influenced by service interruptions at local exchanges and the attraction of external investment opportunities. Additionally, South Korean Web3 companies such as Nexpace, Klaytn, and Wemix have relocated their headquarters to regulatory-friendly countries like the UAE.The report also highlights that the outflow of talent has exacerbated the decline in the technological competitiveness of South Korea's Web3 ecosystem, while countries like the United States and the UAE have attracted high-end technical talent through clear policies. If South Korea wants to maintain its competitiveness in the global Web3 industry transformation by 2025, it urgently needs to promote regulatory reforms, allow corporate accounts to engage in crypto trading, and formulate policies related to stablecoins and DeFi to build a sustainable innovation ecosystem.

ChainCatcher news, according to Bloomberg, an expert committee advising Norwegian politicians stated that although the country is one of the lowest users of cash globally, there is currently no urgency to adopt a central bank digital currency (CBDC).The committee believes that cash still plays an important role in ensuring safe and simple payments for everyone. Nevertheless, it recommends that "necessary regulatory reforms" should begin in order to potentially introduce a significant CBDC in the future.