The Token Press

Policy News — Page 11

Crypto regulation, legislation and public-policy developments.

Judge Temporarily Blocks Connecticut From Enforcing Gambling Order Against Kalshi

A federal judge has temporarily stopped Connecticut from enforcing its gambling order against Kalshi, giving the platform a brief legal reprieve. Kalshi maintains that its event contracts fall under the exclusive jurisdiction of the CFTC rather than state gambling laws. The dispute adds to a growing series of legal battles as multiple states challenge how prediction markets should be regulated.

Circle Wins Abu Dhabi License as UAE Accelerates Stablecoin and Crypto Regulation

Quick Take: Circle has received approval to operate as a Money Services Provider in Abu Dhabi, aligning with the UAE’s broader push to expand its crypto and DeFi regulatory framework. The move positions USDC for wider adoption across the region as the UAE continues to establish itself as a leading global hub for digital assets.

Trump Defends CZ Pardon, Denies Personal Ties Amid Binance–Stablecoin Allegations

President Trump defended pardoning Binance’s CZ, claiming no personal connection and calling the case politically motivated. He dismissed reports linking Binance to a $2B stablecoin deal tied to Trump’s WLFI platform, emphasizing his focus on “making crypto great for America.” The move underscores his pro-crypto stance — and reignites debate over political influence in digital asset regulation.

Bitcoin Slips in October but Enters November — Its Historically Strongest Month for Gains

Bitcoin enters November — historically its strongest month with an average 42% gain since 2013 — amid supportive macro conditions like easing U.S.–China trade tensions, potential Fed rate cuts, and the end of quantitative tightening. However, the ongoing U.S. government shutdown continues to delay ETF approvals and broader crypto regulation, tempering optimism.

South Korea’s First Won-Backed Stablecoin to Launch on Circle’s Arc Network

Circle’s Arc blockchain is gaining momentum as BDACS prepares to launch South Korea’s first won-backed stablecoin, KRW1, connecting Korean fintech to global crypto infrastructure. The move comes amid debate over whether banks should control stablecoin issuance — highlighting Korea’s balancing act between regulation and innovation.

Thai Regulators Raid World Iris Scanning Site Over Unlicensed Crypto Operations

Thailand’s SEC and cybercrime police raided a World iris scanning site for allegedly operating an unlicensed crypto service linked to its WLD token. The move adds to mounting international regulatory pressure on Sam Altman’s digital identity project, which continues to face privacy and compliance challenges across multiple countries.

Hong Kong Approves First Spot Solana ETF — Beating the U.S. to the Punch

Hong Kong’s approval of the ChinaAMC Solana ETF marks another milestone in the global expansion of regulated digital asset products — and underscores how far the U.S. still trails. With major players like Bitwise predicting Solana will underpin the next generation of tokenized finance, Asia is cementing its lead in institutional crypto innovation.

Australia’s Financial Watchdog May Soon Have Power to Ban Crypto ATMs Under New Law

Australia’s government plans to grant AUSTRAC new powers to restrict or ban crypto ATMs amid concerns about financial crime. While Minister Tony Burke stressed that a full ban isn’t planned, the move highlights the country’s cautious stance toward crypto infrastructure — even as adoption surges and providers push for fair regulation.