Regulation/Macroeconomics

The Korean Financial Supervisory Service (FSS), Customs Service, Credit Finance Association, and 9 credit card companies signed the "Public-Private Cooperation Agreement to Block Transnational Criminal Funds." This agreement analyzes overseas credit card usage details and entry and exit records to cut off the funding chain of phone scams and virtual asset crimes at the source. Previously, information gaps prevented the Customs Service from real-time monitoring of abnormal overseas spending, despite having entry and exit data, while credit card companies had payment data but lacked clearance dynamics. Under the new mechanism, the Customs Service will provide credit card companies with high-risk transaction trends, and the Financial Supervisory Service will draft guidelines authorizing credit card companies to directly interrupt transactions when anomalies are detected. FSS Chairman Lee Chan-jin stated that this move marks the establishment of a regular monitoring system in Korea to block criminal profits from flowing overseas at the source. The system focuses on precisely targeting "currency exchange" behaviors that exploit overseas credit cards to withdraw cash from ATMs and launder money through cryptocurrencies.

The Central Bank of Russia has submitted a proposal to the government to allow digital financial assets to circulate in open blockchain networks such as Ethereum, in order to attract foreign investment under sanctions. The central bank governor stated that this move is crucial for attracting overseas investments and facilitating cross-border settlements. If the proposal is approved, Russian companies will be able to issue digital financial assets on foreign platforms, and these assets may potentially land on major cryptocurrency exchanges and DeFi protocols in the future, allowing Russian companies to regain international liquidity. The central bank plans to submit relevant amendment drafts in the summer of 2026.

The full text of the "Outline of the 15th Five-Year Plan for National Economic and Social Development of the People's Republic of China" was released. It clearly proposes to build a modern infrastructure system, moderately advance the construction of new infrastructure, implement the national blockchain network construction project, strengthen the core industries of the digital economy, develop the next generation of communication technologies, cloud computing, blockchain, etc., and create internationally competitive digital industry clusters. At the same time, it will actively participate in international governance in areas such as artificial intelligence, digital currency, and cross-border data flow, reaching more agreements on data security, privacy protection, and cross-border law enforcement cooperation, and strengthening international judicial coordination and mutual recognition of rules. The outline also emphasizes the steady development of the digital Renminbi and accelerates the construction of the Shanghai International Financial Center.

Documents from the High Court of England reveal that a man accused his estranged wife of obtaining his Trezor hardware wallet recovery phrase through secret video recordings, stealing 2,323 Bitcoins (valued at approximately $172 million). The man installed recording equipment at home after his daughter warned that his wife was attempting to steal the bitcoins. Recordings captured phrases like "the bitcoins have been transferred to me" and "take it all away." On August 2, 2023, his bitcoins were transferred to 71 different addresses, with no further transactions occurring afterward. After he reported the case, his wife was arrested in 2023, and police seized 10 crypto cold wallets, but she was released after an unrecorded interrogation and bail, with police stating they would not take further action until new evidence emerged. In November 2025, the man applied for a property preservation injunction, requesting a declaration of bitcoin ownership and the recovery of his assets. The judge noted the high likelihood of his success and pointed out that his wife had an opportunity but did not provide a statement regarding the incident, stressing the need for an expedited hearing due to bitcoin's volatility.

Multiple law enforcement agencies from the US Secret Service, UK's National Crime Agency (NCA), and Ontario Provincial Police (OPP) are jointly carrying out an international law enforcement operation codenamed "Operation Atlantic." The operation aims to combat organized cryptocurrency fraud schemes, focusing on identifying and assisting victims who have suffered asset losses or face risks through "authorization phishing" methods. "Authorization phishing" is often associated with "pig butchering" investment scams, where criminals lure victims into granting full access to their crypto wallets, thereby stealing their funds. Participating agencies also include the Royal Canadian Mounted Police, City of London Police, US Attorney's Office for the District of Columbia, and UK's Financial Conduct Authority (FCA), with support from private sector partners. This operation builds on the successful experience of the 2024 "Project Atlas," enabling real-time interception of scam activities through cross-border collaboration.

During the Blockchain Summit in Washington DC, negotiations between the crypto and banking sectors regarding stablecoin yield regulation have come close to consensus. Digital Chamber CEO Cody Carbone stated that both parties lean towards a compromise, prohibiting yields on idle stablecoin balances while allowing transaction-based rewards to alleviate traditional banks' concerns over deposit outflows. Currently, Senators Thom Tillis and Angela Alsobrooks are seen as key "gatekeepers" to finalizing an agreement. Once yield terms are legislated, remaining disputes over DeFi and token classification are expected to accelerate resolution. Senate Banking Committee Chair Tim Scott is expected to provide clearer signals regarding the committee's voting timeline at the summit.

Japan's Financial Services Agency (FSA) plans to strengthen penalties and supervision for unregistered cryptocurrency operators, shifting cryptocurrency asset regulations from the "Funds Settlement Act" to the "Financial Instruments and Exchange Act" to enhance investor protection. For unregistered cryptocurrency sellers, the criminal penalties are proposed to increase from the current "up to 3 years in prison or fines of up to 3 million yen" to "up to 10 years in prison or fines of up to 10 million yen (or both)." Additionally, supervisory commissions for securities transactions will be authorized to conduct mandatory on-site inspections and evidence seizures for criminal investigations; the statutory name of registered operators is proposed to change from "cryptocurrency exchange operator" to "cryptocurrency trading operator." This move is in response to the increasing disputes related to highly speculative meme tokens; previously, Japanese Prime Minister Sanae Takaichi clarified on March 4 that the meme coin of the same name was unrelated, causing the token to plummet over 65%.