... through a market instrument. This fund, with a custodian being BitGo, simplifies access for investors to Bitcoin and may attract additional capital. Meanwhile, China maintains strict restrictions on private cryptocurrency ownership, whereas some Asian financial centers are enhancing the integration of digital assets: for example, Hong Kong's regulator recently introduced stricter client asset storage standards for licensed crypto exchanges, emphasizing a commitment to secure practices and positioning itself as one of the regional digital asset hubs. Russia and CIS In Russia, regulators continue to tighten control over cryptocurrencies while simultaneously preparing their own initiatives. Banks are permitted to offer ...

... sales of XRP on exchanges did not violate the law, while transactions with institutional investors were deemed unregistered securities offerings. In May 2025, both parties agreed to settle the dispute: Ripple would pay a fine, return a significant portion ... ... but differ in their objectives and teams. XRP promotes solutions for banking transfers and has a long-standing presence in the financial sector; however, its performance primarily depends on the favorable outcome of regulatory disputes. Solana (SOL) features ...

... disclosure standards and exemptions for crypto assets. The regulator intends to collaborate with companies wishing to offer tokenized securities (stocks and funds on the blockchain). These steps signify a fundamental shift towards a more flexible approach and ... ... attract blockchain companies. The global trend is that governments are seeking to integrate cryptocurrencies into the existing financial system through clear regulations — in the long term, this reduces legal risks for investors and major market players....

... lays the foundation for a stablecoins market valued at about ~$250 billion, requiring issuers to maintain full reserve backing and high transparency. Concurrently, the SEC has launched “**Project Crypto**” – a reform package aimed at adapting financial rules for crypto assets. The regulator is easing its stance: it has been stated that most cryptocurrencies will not be considered securities, while new projects (ICOs, airdrops, etc.) will be afforded “safe harbors” — temporary regimes facilitating launches. Moreover, trading of spot crypto assets on regulated exchanges has been allowed alongside futures in collaboration with ...

... rubles. The 29% decrease in profit is mainly due to the growth of reserves for asset impairment and a decrease in income from securities transactions. These indicators indicate the bank's conservative policy in the context of economic uncertainty. Nevertheless,... ... challenges. The question is how quickly these measures will bring results and whether they will be able to compensate for the current financial losses.