Stay updated with today’s key crypto events shaping Bitcoin, blockchain, DeFi, NFTs, Web3, and regulatory landscapes.
The US Securities and Exchange Commission (SEC) announced it will not regulate tokens associated with Decentralized Physical Infrastructure Networks (DePIN), granting a rare no-action letter that exempts these tokens from securities laws. This pioneering move offers clarity and regulatory relief for crypto infrastructure projects like DoubleZero.
Michael Seaman, SEC’s chief counsel, confirmed that enforcement action regarding DoubleZero’s upcoming token launch will not be recommended, recognizing these tokens fall outside the agency’s jurisdiction because they don’t constitute securities.
Commissioner Hester Peirce emphasized that DePIN tokens fundamentally differ from traditional capital‑raising securities, and the SEC’s oversight should focus on securities markets rather than the entire economic activity, allowing innovators to focus on infrastructure development without regulatory concerns.
DoubleZero’s co‑founder, Austin Federa, hailed this development as a solid milestone showcasing productive collaboration between US crypto innovators and regulators.
Meanwhile, Kazakhstan has launched its first state‑backed cryptocurrency reserve fund, known as the Alem Crypto Fund, formed in partnership with Binance. The initial asset in this reserve is Binance’s native BNB token, which powers transactions, fees, and decentralized governance on Binance’s blockchain.
Established by the Ministry of Artificial Intelligence and Digital Development and managed by Qazaqstan Venture Group within Astana International Financial Centre (AIFC), the fund aims to create long-term digital asset investments and maintain strategic reserves. Specific details regarding the fund’s initial capital and future crypto holdings remain undisclosed.
Binance’s close collaboration with Kazakhstan’s government began in 2022 after signing an MoU to assist in shaping the country’s crypto regulatory framework. Notably, Kazakhstan also recently issued a tenge‑backed stablecoin on Solana, partnering with Mastercard and others.
On the regulatory front in Europe, the Polish parliament (Sejm) approved a comprehensive Crypto‑Asset Market Act that establishes stringent licensing requirements and creates a dedicated supervisory authority called Komisja Nadzoru Finansowego (KNF).
This bill aligns Poland’s crypto regulations with the European Union’s Markets in Crypto‑Assets Regulation (MiCA) framework and mandates all Crypto Asset Service Providers (CASPs) operating in Poland to obtain licenses from KNF.
To qualify for licensing, entities must demonstrate robust corporate governance, capital adequacy, compliance protocols, risk management, and implement Anti‑Money Laundering (AML) procedures.
The legislation introduces tough penalties for violations, including fines up to 10 million PLN (approximately $2.8 million) and potential imprisonment up to two years, triggering significant pushback from the crypto community.