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14 May 2026, 17:40

Kazakhstan gives crypto payments a cautious green light

Kazakhstan claims it has finalized the legalization of crypto transactions in its economy with an updated legislation that entered into force earlier this month. While cryptocurrency payments are now supposedly legal, too, it has become clear that the fiat tenge remains the only legal tender in direct purchases. Kazakhstan adopts rules for crypto circulation Cryptocurrency has been formally recognized in Kazakhstan since the enforcement of the law “On Digital Assets” in 2023. But legal options to transact with it were quite limited. One could easily buy digital cash or acquire it through mining, but there was almost nowhere to spend it or convert it domestically without breaking the law. Before the latest push to resolve the issue, Bitcoin had already ceased to be something exotic, as noted by the 24.kz news channel on Wednesday, and many Kazakhstanis were already invested in crypto. However, trading was only permitted through a handful of exchanges registered at the Astana International Financial Center (AIFC), the fintech hub in the capital city. As a result, some 95% of the country’s crypto turnover was taking place outside this regulated market, the Tengrinews.kz website remarked last week. Digital coins were changing hands either within the gray sector of the economy, including in peer-to-peer deals and on unofficial exchanges, or through foreign-based platforms. Amendments were made to the Digital Assets act at the start of month and bylaws adopted by the National Bank of Kazakhstan (NBK) to bring these flows out of the shadows. The revamped legislation introduces comprehensive and systemic regulation for cryptocurrency circulation in the Central Asian nation. That includes a more detailed classification of digital assets, which are now divided into two main types – secured and unsecured. The latter category includes regular cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH), the value of which depends mainly on market demand. And the former covers tokens backed by real assets like gold, commodities, or fiat money in reserve. Such is the stablecoin Tether (USDT), for example, which is pegged to the U.S. dollar. Then, the updated framework adds the term “digital asset service providers,” also defined as licensed market participants, supervised by the NBK. These will include issuers of tokenized assets, operators of trading platforms like crypto exchanges and those of offices offering only crypto-fiat exchange. Asan Akhmetzhan, head of the monetary authority’s press service, was quoted as stating: “Unified rules have emerged for everyone … We are consciously moving from a restrictive approach to regulated circulation. Now it’s possible to buy, sell, and store cryptocurrency.” But what happens with crypto payments? Officially, cryptocurrency payments, as a part of the digital-asset turnover, were also legalized in Kazakhstan on May 1, both local media reports highlighted. It turns out, however, that Kazakhstani citizens won’t be able to buy a coffee or pay their rent using Bitcoin, as explained by experts interviewed by the news outlets. Spending digital coins for purchases will be possible only through instant conversion to the national fiat handled by a licensed intermediary, in which the seller receives tenge, not Tether. From a legal standpoint, crypto is not a means of payment yet, emphasized Kirill Greshnikov, a lawyer who commented for Tengrinews: “We need to dispel the main myth: direct payments with cryptocurrency are still prohibited in Kazakhstan.” What the authorities mean with “legalization of payments” is merely the introduction of the digital assets into civil circulation, he elaborated. These assets, recognized as property, can only serve as a source of funds, added Dmitry Zaika, a representative of a licensed domestic exchange. To use them for payment, one needs to register on a platform like his, pass identity verification, open and top up a crypto wallet. Then they need to have one of those CryptoPay cards , issued in Kazakhstan with Mastercard and linked to a payment app like Apple Pay, Google Pay, or Samsung Pay, he explained further. This scheme allows coins to be spent almost everywhere. But while the buyer perceives the transaction as a crypto payment, the seller receives tenge, which remains the legal tender in Kazakhstan. “The only means of payment in our country is the tenge. Cryptocurrency also is in some countries, but legalization did not change this here,” financial analyst Andrey Chebotarev told 24.kz. While commenting on the rise of non-cash payments, which already exceed 80% in Kazakhstan, and the growing use of the digital tenge, President Kassym-Jomart Tokayev recently emphasized on the need for coordinated institutional efforts to transform the country into a crypto hub . If you're reading this, you’re already ahead. Stay there with our newsletter .

14 May 2026, 17:19

Tether Tron and TRM Labs T3 FCU freezes $450 million worth of illicit crypto funds

A joint collaboration between Tether, TRON and blockchain analytics firm TRM Labs called the T3 Financial Crime Unit has announced on Wednesday that it has frozen more than $450 million in USDT suspected to be acquired through illicit, criminal means since the initiative launched in September 2024. The frozen funds by the crime unit involve investigations into various illicit operations including money laundering, crypto exchange hacks, North Korea-linked cyber operations, terrorist cells financing, drug trafficking, and violent crimes including kidnappings and extortion, according to a statement published by Tether. The T3 FCU has enlisted the help of multiple law enforcement agencies in its fight against illicit activity in the crypto community. These agencies span five different continents, with countries like the U.S., Spain, Germany, the Netherlands and Bulgaria having the highest volume of assets frozen. Tether’s T3 puts in the work The T3 FCU reported that it helped in the recovery of 43.9% more illicit proceeds in 2025 compared to the previous year. The unit claimed it can execute asset freezes within 24 hours of a request by law enforcement regarding an investigation, a pace that traditional banks and services find hard to match. The group pointed to several high-profile cases where it helped with asset freezing and recovery. One involved the freezing of about $26.4 million allegedly connected to a European money-laundering ring that was dismantled alongside Spain’s Guardia Civil in early 2025 . Another case was “Operation Lusocoin”, a Brazilian Federal Police investigation that froze more than 3 billion Brazilian reais in crypto assets, of which 4.3 million USDT linked to a criminal network was a part, according to Tether’s statement. Additional freezes targeted wallets tied to North Korean cyber activity and funds traced to the Bybit hack, with nearly $9 million in crypto funds identified. In addition, Tether confirmed a $344 million USDT freeze on TRON in April 2026 following intelligence-sharing with U.S. and international law enforcement. T3 FCU breaks higher ground amid international recognition The Financial Action Task Force cited T3 FCU earlier this year as an “invaluable resource for law enforcement agencies worldwide.” The FATF highlighted the unit alongside TRM Labs’ Beacon Network as leading examples of public-private partnerships for combating criminal activity in the crypto community. The recognition comes amid a sharp rise in illicit cryptocurrency activity, with blockchain-related criminal activity reaching a record $158 billion in 2025, according to estimates from TRM Labs. The figures underscore the growing pressure on stablecoin issuers and blockchain platforms to strengthen compliance frameworks as regulators intensify the crypto sector’s scrutiny. “Compliance is not an option; it is a part of our commitment to protect our users and stop any illicit behaviors,” said Paolo Ardoino in the announcement. “This $450 million milestone is just the beginning of what T3 is capable of,” he added. Chris Janczewski, who previously served as a special agent with the IRS Criminal Investigation division, said the initiative combines “real-time intelligence and expertise with coordinated public-private action to disrupt illicit activity as it happens.” The comments reflect an intensified industry effort to ensure stronger oversight and enforcement capabilities. Is crypto decentralization a myth? The scale of the recent asset freezes has reignited debate over the level of control centralized stablecoin issuers retain within blockchain ecosystems that are often said to be ‘decentralized’. Tether includes issuer-level controls that allow Tether to blacklist specific wallet addresses and freeze associated funds, which goes against the intent behind cryptocurrencies like Bitcoin. According to onchain data compiled by BlockSec, more than $500 million worth of USDT was frozen over a recent 30-day period. This amount extends beyond the activity linked to the T3 Financial Crime Unit in the statement and proves Tether is doing even more blacklisting on multiple blockchains. The smartest crypto minds already read our newsletter. Want in? Join them .

14 May 2026, 17:16

Tether, Tron and TRM Financial Crime Unit Has Frozen $450 Million in Illicit Crypto Funds

A public-private partnership among Tether, Tron, and TRM Labs is expanding its global reach, working with law enforcement in 23 countries.

14 May 2026, 17:10

Swiss Franc Slips as Strong US Data and Hawkish Fed Commentary Boost Dollar

BitcoinWorld Swiss Franc Slips as Strong US Data and Hawkish Fed Commentary Boost Dollar The Swiss Franc edged lower against the US Dollar on Tuesday, as a series of robust economic data releases from the United States and hawkish commentary from Federal Reserve officials reinforced expectations for a prolonged period of elevated interest rates. The USD/CHF pair climbed to a session high of 0.8920, reflecting renewed demand for the greenback. Strong US Data Fuels Dollar Demand Data released earlier this week showed that US durable goods orders rose more than expected in February, while consumer confidence improved to a two-year high. These figures suggest that the US economy remains resilient despite the Fed’s aggressive tightening cycle, reducing the likelihood of imminent rate cuts. The strong data has bolstered the dollar’s appeal as a safe-haven asset, drawing investors away from the Swiss Franc. Hawkish Fed Commentary Reinforces Rate Outlook Federal Reserve officials, including Governor Christopher Waller and Richmond Fed President Thomas Barkin, delivered hawkish remarks on Monday and Tuesday. Waller noted that recent inflation data has been “disappointing” and that the central bank needs to see more progress before considering rate cuts. Barkin echoed this sentiment, stating that the labor market remains tight and that the Fed must remain vigilant. These comments have reinforced market expectations that the Fed will hold rates steady for longer, supporting the dollar. Impact on the Swiss Franc The Swiss Franc, traditionally a safe-haven currency, has come under pressure as the dollar strengthens. The USD/CHF pair has broken above its 50-day moving average, a technical signal that could attract further buying. Traders are now watching for the next key resistance level at 0.8950, with a break above that potentially opening the door to the 0.9000 handle. The Swiss National Bank (SNB) has not intervened in the currency market recently, but analysts note that the central bank is likely monitoring the franc’s weakness closely. Conclusion The Swiss Franc’s decline against the Dollar reflects the broader market narrative of a resilient US economy and a patient Federal Reserve. For forex traders, the near-term direction of USD/CHF will depend on upcoming US data, including non-farm payrolls and inflation figures, as well as any shifts in Fed rhetoric. The SNB’s policy stance will also be a key factor to watch. FAQs Q1: Why is the Swiss Franc falling against the US Dollar? The Swiss Franc is falling because strong US economic data and hawkish comments from Federal Reserve officials have increased demand for the US Dollar, as investors expect the Fed to keep interest rates higher for longer. Q2: What are the key levels to watch in USD/CHF? Traders are watching the 0.8950 resistance level. A break above that could lead to a test of the 0.9000 psychological level. On the downside, support is seen near 0.8850. Q3: Could the Swiss National Bank intervene to support the Franc? The SNB has a history of intervening to prevent excessive Franc strength or weakness. While no intervention has been reported recently, the central bank is likely monitoring the situation and could act if the decline becomes disorderly. This post Swiss Franc Slips as Strong US Data and Hawkish Fed Commentary Boost Dollar first appeared on BitcoinWorld .

14 May 2026, 17:08

Pro-Crypto CLARITY Act H.R. 3633 Passes Senate Banking Committee 15-9

The United States Senate Banking Committee took a definitive step toward establishing a national regulatory framework for digital assets on Thursday by advancing the Digital Asset Market Clarity Act. Bitcoin Taps $82K as Senate Banking Committee Advances CLARITY Act Known as the CLARITY Act or H.R. 3633, the piece of legislation moved out of the

14 May 2026, 16:25

Senate Banking Committee Rejects DeFi Anti-Money Laundering Provision in CLARITY Act Markup

BitcoinWorld Senate Banking Committee Rejects DeFi Anti-Money Laundering Provision in CLARITY Act Markup The U.S. Senate Banking Committee has voted down a proposed amendment to the CLARITY Act that would have imposed anti-money laundering (AML) requirements on decentralized finance (DeFi) protocols and established liability for their developers. The decision came during the committee’s markup session on the bill, highlighting the deepening partisan divide over how to regulate emerging cryptocurrency technologies. What the Rejected Provision Would Have Done The amendment, introduced by Senator Chris Van Hollen (D-MD), sought to explicitly bring DeFi platforms under existing Bank Secrecy Act obligations. A central component of the proposal would have held developers legally responsible if they intentionally designed or maintained software that facilitated illicit financial flows. Van Hollen argued that without such a measure, DeFi would remain a significant gap in the U.S. anti-money laundering framework, potentially enabling sanctions evasion and other financial crimes. The Opposition and Rationale Senator Cynthia Lummis (R-WY) led the opposition to the provision, contending that current federal laws already provide sufficient tools to prosecute bad actors. Lummis, a known advocate for the crypto industry, warned that the amendment’s broad language could stifle innovation by imposing compliance burdens on software developers who have no direct control over how their code is used. The argument resonated with several committee members who expressed concern about driving DeFi development overseas. Implications for the Broader CLARITY Act The CLARITY Act, formally titled the Crypto Legal Authority and Regulatory Transparency Act, is intended to provide clearer regulatory guidelines for digital assets. While the rejection of the DeFi AML provision removes one of the most contentious elements of the bill, it may also reduce the legislation’s effectiveness in addressing what regulators have identified as a key vulnerability. The Treasury Department has previously flagged DeFi as a growing vector for money laundering, though it has also acknowledged the technical challenges of enforcing traditional financial regulations on decentralized networks. What This Means for the Crypto Industry For DeFi developers and users, the committee’s decision provides a temporary reprieve from the prospect of direct liability. However, the debate is far from over. The provision’s rejection does not preclude future legislative attempts, and regulatory agencies like the Financial Crimes Enforcement Network (FinCEN) continue to explore their own rulemaking authority. Industry observers note that the outcome signals a cautious approach from lawmakers, who are still grappling with how to balance innovation with consumer and national security protections. Conclusion The Senate Banking Committee’s decision to strike the DeFi AML provision from the CLARITY Act marks a significant moment in the ongoing legislative battle over cryptocurrency regulation. While the move was welcomed by many in the crypto sector, it leaves a critical policy question unresolved: how to prevent illicit finance in a technology that operates without traditional intermediaries. As the CLARITY Act moves forward, the debate over developer liability and DeFi oversight is likely to resurface, either in the House or during a potential reconciliation process. FAQs Q1: What is the CLARITY Act? The CLARITY Act is a proposed U.S. law aimed at providing a clearer regulatory framework for digital assets, including definitions of when a cryptocurrency is a security or a commodity. Q2: Why was the DeFi AML provision rejected? Senator Cynthia Lummis and other opponents argued that existing laws are adequate and that the provision could harm the U.S. technology sector by holding developers liable for the actions of users. Q3: What happens next for DeFi regulation? The rejection does not end the regulatory conversation. Federal agencies like FinCEN may pursue their own rules, and the issue could be revisited in future legislation or during House consideration of the CLARITY Act. This post Senate Banking Committee Rejects DeFi Anti-Money Laundering Provision in CLARITY Act Markup first appeared on BitcoinWorld .