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21 Jan 2026, 15:52
Shanghai opens free-fly drone zones covering 46% of the city
Shanghai will allow drone operators to fly in designated areas without getting permission first, starting February 1, as part of new rules aimed at growing the country’s low-altitude economy. Under the city’s new guidelines for unmanned aerial vehicles, people can fly consumer drones in specific zones without filing advance paperwork, as long as their devices are registered. This applies to drones classified as micro, light, and small models. New app streamlines registration and flight planning The zones where drones can fly freely make up roughly 46 per cent of Shanghai’s territory, city officials said at a Tuesday briefing reported by ThePaper.cn. Three parks have been set aside as practice areas for drone flights, including the Shanghai Botanical Garden. Some areas still require approval from aviation authorities before flying. Drone users can submit their requests through the Suishenban app, which also shows maps of where flying is allowed and where it’s restricted. The app works as a central hub where drone owners can register their aircraft, report planned flights, and book time slots at the practice zones. The new system reflects Shanghai’s growing drone activity , which comes more than a year after city leaders launched an action plan to speed up work on the low-altitude economy. By the end of 2025, Shanghai had 220,000 registered drones and close to 800 companies operating them, officials said Tuesday. Drones flew 3.2 million times in the city last year. The low-altitude economy covers business activities that happen in airspace below 1,000 meters, or about 3,280 feet. This includes drones, flying taxis that take off and land vertically, and other aircraft used for deliveries, tourism, farming, emergency response, and city transportation. Cities compete to lea d gr owing industry Earlier this month, Shanghai announced plans to become a world leader in this sector. The city wants to build an industry worth 80 billion yuan, equal to $11.5 billion, by 2028 and create a top national manufacturing hub. China updated its Civil Aviation Law last month with major changes to address drone flights. The new rules take effec t Ju ly 1. Temporary regulations from 2024 already required all drone owners to register using their real names. Shenzhen, the southern technology center where DJI, the world’s biggest consumer drone company, is based, has put similar rules in place following national drone regulations. Shenzhen’s government has made the low-altitude economy a priority with local laws and action plans focused on building infrastructure and finding practical uses in areas like transportation and deliveries. In a plan released in July, Shenzhen promised to increase the airspace available for drone flights to more than 75 per cent of the city by the end of 2026. The city is targeting a low-altitude economy worth over 130 billion yuan. If you're reading this, you’re already ahead. Stay there with our newsletter .
21 Jan 2026, 15:45
SEC Crypto Task Force Pressed on Self-Custody Rights and DeFi ‘Dealer’ Rules in New Filings
The US Securities and Exchange Commission’s Crypto Task Force is facing renewed pressure from industry groups and individual contributors as questions around self-custody rights and the scope of dealer regulation in decentralized finance move back into focus. On Tuesday, the Task Force’s public “Written Input” page added two new submissions that reflect a broader tension shaping US crypto policy: how to protect investors without collapsing core features of on-chain markets, particularly self-custody and non-custodial trading. SEC Filings Spotlight Self-Custody Protections and DeFi Market Structure One submission, filed by an individual identified as DK Willard, centers on the experience of retail crypto users in Louisiana and ties state-level protections directly to the federal debate now unfolding in Washington. Willard points to Louisiana legislation such as House Bill 488 , which explicitly affirms residents’ right to self-custody digital assets, arguing that these protections should not be diluted by federal market structure proposals. The filing shows that Congress is considering frameworks that include registration, transparency, and anti-fraud standards, but certain exemptions risk allowing developers or platforms to sidestep core investor protections. In Willard’s view, weakening self-custody protections could expose consumers to fraud and financial crime rather than supporting responsible innovation. At the same time, a more technical submission from the Blockchain Association’s Trading Firm Working Group focuses on how proprietary trading firms should be treated when providing liquidity in tokenized equity markets that operate on DeFi infrastructure. Source: SEC The group argues that long-standing distinctions in securities law between dealers and traders should continue to apply on-chain. Trading for one’s own account, without customer solicitation, custody, or agency execution, should not trigger dealer registration under the Exchange Act, the filing says, even when that trading occurs through smart contracts and decentralized venues. The association frames this issue as central to whether tokenized equity markets can function at all during any SEC-approved innovation exemption or sandbox . Without legal certainty, proprietary trading firms may avoid on-chain markets altogether, leaving tokenized equities without reliable liquidity, price discovery, or arbitrage. The group stresses that existing broker-dealer rules, including those governing clearing, custody, reporting, and capital, were designed for intermediated markets and will take time to adapt to atomic settlement and smart contract execution. Allowing proprietary firms to participate immediately, they argue, would give regulators space to modernize those frameworks without freezing market activity in the interim. SEC’s New Crypto Approach Takes Shape After 2025 Restructuring These submissions land within a broader shift at the SEC that began after the agency’s restructuring in early 2025. Under Commissioner Hester Peirce, the Crypto Task Force has moved away from what industry participants long criticized as regulation by enforcement and toward formal rulemaking and guidance. Over the past year, that approach has included dismissing the SEC’s lawsuit against Coinbase , pausing enforcement actions against Binance , and closing investigations into other major platforms. The @SECGov plans to drop its enforcement case against @coinbase , with CEO @brian_armstrong calling a "huge day" for crypto. #Coinbase #SEC https://t.co/8Q5mkqG1J8 — Cryptonews.com (@cryptonews) February 21, 2025 The agency has also rescinded restrictive custody guidance and clarified that certain crypto activities do not constitute securities transactions. The latest filings also intersect with an increasingly complex legislative backdrop. Negotiations over the CLARITY Act , which aims to establish a comprehensive federal market structure for digital assets, remain unsettled. Coinbase says crypto market structure bill more complex than stablecoin framework but global competition will force congressional action this year. #Coinbase #ClarityAct https://t.co/PEuIKIZkwu — Cryptonews.com (@cryptonews) January 3, 2026 A scheduled markup in the Senate Banking Committee was postponed following industry opposition, while the Senate Agriculture Committee is still expected to review the bill later this month. Other recent submissions to the Crypto Task Force highlight how contested the custody question remains. Industry groups, including SIFMA, have cautioned against granting broad exemptions to wallet providers that perform broker-dealer functions, while policy groups tied to the Solana ecosystem are calling for clearer distinctions between non-custodial software and regulated intermediaries. The post SEC Crypto Task Force Pressed on Self-Custody Rights and DeFi ‘Dealer’ Rules in New Filings appeared first on Cryptonews .
21 Jan 2026, 15:43
Fast-food chain Steak n Shake to pay hourly workers a bitcoin bonus
This follows news from a few days ago that the company added $10 million worth of bitcoin to its corporate treasury.
21 Jan 2026, 15:05
Bitcoin eyes $90K as Donald Trump sees crypto bill signing 'very soon'
Bitcoin joined stocks in a relief bounce as US President Donald Trump hinted at new legislation "very soon" and a doubling of the Dow Jones.
21 Jan 2026, 14:53
Former Alameda CEO Caroline Ellison released from federal custody
The former CEO of Alameda Research, Caroline Ellison, was released from federal prison on Wednesday after completing her federal supervision. Court documents revealed that she has been moved from federal prison to the post-release supervision phase. Ellison had settled an agreement with regulators the previous year after being transferred from a Connecticut prison to home confinement in October. She is also required to comply with multiple post-sentence regulatory restrictions after completing her sentence. SEC bars Ellison from holding any executive positions for 10 years THE $571 MILLION PER MONTH DISCOUNT Caroline Ellison helped vaporize $8 billion. She’s walking free January 21st. Time served: 14 months. That’s $571 million in customer losses per month of custody. Here is the math that should terrify every white-collar defendant in… pic.twitter.com/WxDH12lTCc — Shanaka Anslem Perera ⚡ (@shanaka86) December 26, 2025 The U.S. Securities and Exchange Commission issued a 10-year prohibition against Ellison serving in any executive positions at any digital asset exchange or any publicly traded firm. The prohibition follows her involvement in legal proceedings related to her previous roles at the defunct FTX crypto company. Other executives, including Zixiao Wang, former CTO of FTX Trading, and Nishad Singh, former Co-Head of engineering at FTX, both agreed on a settlement with the SEC. They have also been prohibited from being officers or directors of any public company for several years. An SEC document filed in December in the U.S. District Court for the Southern District of New York revealed that Ellison agreed to a 10-year officer-and-director bar. Wang and Singh both agreed to an eight-year bar. The filing also indicated that Ellison, Wang, and Singh agreed to the Commission’s antifraud allegations and to a 5-year conduct-based injunction. Ellison’s release comes 10 months earlier than her full sentence of two years, which began in November 2024. She pleaded guilty in December 2022 to fraud and conspiracy charges linked to FTX. The former executive was sentenced in September 2024, and U.S. District Judge Lewis Kaplan ordered her to forfeit $11 billion. Ellison’s early release follows her good conduct in prison, where she is said to have cooperated with authorities investigating FTX. She had previously testified against FTX founder Sam Bankman-Fried, which led to a 25-year conviction in federal prison. CEO of the FTX bankruptcy estate, John J-Ray III, acknowledged that Ellison has provided the debtors with valuable assistance and cooperation. He also revealed that her cooperation led to the recovery of hundreds of millions of dollars for the Debtor, benefiting creditors. SEC orders Sam Bankman-Fried to remain in federal prison Ellison’s release marks the final stage in the legal process involving the FTX and Alameda Research executives involved in the 2022 collapse of the digital asset exchange. Bankman-Fried had appealed in November that his fraud conviction and 25-year prison sentence should be scrapped due to an unfair trial. A three-judge panel of the 2nd U.S. Circuit Court of Appeals in Manhattan found Bankman-Fried guilty of seven charges in the 2023 FTX case. The court issued a notice for the former FTX CEO to remain in federal prison on fraud charges. The judges agreed that the evidence presented at trial, including witness testimony and troves of FTX documents, proved the former executive’s guilt. Cryptopolitan also previously reported that U.S. President Donald Trump revealed earlier this year that he has no intentions of pardoning Bankman-Fried. Investigations revealed that FTX Co-Founder Sam Bankman-Fried operated a scheme that manipulated the price of the firm’s security token, FTT, by purchasing large quantities on the open market to prop up its price. The SEC also revealed that the crypto hedge fund owned by Wang and Bankman-Fried and run by Ellison used FTT as collateral for undisclosed loans. The initiative allegedly caused Alameda’s balance sheet to be overstated, misleading investors about the company’s risk exposure. Ellison and Wang were tied to the scheme as active participants trying to deceive FTX’s investors. Wang was accused of developing the FTX software code that allowed Alameda to divert customer funds. Ellison was accused of misappropriating FTX funds for Alameda’s trading activities. Join a premium crypto trading community free for 30 days - normally $100/mo.
21 Jan 2026, 14:25
Trump’s Shocking Assertion: Greenland is US Territory Vital for National Security
BitcoinWorld Trump’s Shocking Assertion: Greenland is US Territory Vital for National Security DAVOS, SWITZERLAND — January 21, 2025 — In a statement that immediately reverberated through diplomatic circles, former U.S. President Donald Trump declared Greenland as American territory essential for national security. Consequently, this assertion came during his special address at the World Economic Forum. Moreover, his remarks have reignited discussions about Arctic sovereignty and geopolitical strategy. Trump’s Greenland Territory Claim at Davos Forum President Trump made his Greenland declaration during the annual World Economic Forum meeting. Specifically, he stated no country other than the United States could properly secure the massive Arctic island. Furthermore, he framed this position within broader national security concerns. The former president emphasized Greenland’s strategic location between North America and Europe. Additionally, he highlighted its proximity to Russia’s northern military installations. Historical context provides important background for this statement. In 2019, the Trump administration reportedly explored purchasing Greenland from Denmark. However, the Danish government immediately rejected this proposal as absurd. Now, Trump’s renewed territorial claim represents a significant escalation. Geopolitical analysts note this aligns with his “America First” foreign policy approach. The Arctic region has gained tremendous strategic importance recently. Climate change has opened new shipping routes through melting ice. Furthermore, substantial natural resource discoveries have attracted global interest. Several nations have increased their military presence in the Arctic Circle. Therefore, control over Greenland offers substantial advantages for any power. Geopolitical Implications of Arctic Sovereignty Claims Trump’s statement carries immediate diplomatic consequences. Denmark maintains sovereignty over Greenland through the Kingdom of Denmark. Greenland itself gained self-rule in 2009 but handles defense and foreign policy through Copenhagen. The Danish government has consistently affirmed Greenland’s status. International law strongly supports Denmark’s position under the United Nations Convention on the Law of the Sea. Regional experts have identified several key implications: US-Denmark Relations: Diplomatic tensions may resurface between Washington and Copenhagen Arctic Council Dynamics: The eight-nation Arctic Council faces new challenges Russian Response: Moscow may increase its Arctic military activities Chinese Interests: Beijing’s Arctic investments require reassessment Indigenous Rights: Greenland’s Inuit population seeks greater consultation Strategic analysts note Greenland hosts America’s northernmost military base. Thule Air Base has operated since 1951 under a bilateral defense agreement. This arrangement allows U.S. presence without territorial claims. The base provides crucial missile warning and space surveillance capabilities. Currently, about 600 personnel maintain operations at this remote location. Historical Precedents and Legal Frameworks Territorial claims follow established international legal processes. The United Nations recognizes Greenland as part of Denmark. Any change requires bilateral agreement and self-determination principles. Greenland’s population of approximately 56,000 people would need consultation. Previous independence movements have gained momentum in recent decades. Historical acquisition methods provide context for territorial changes: Territory Previous Controller Current Controller Method Alaska Russia United States Purchase (1867) Louisiana France United States Purchase (1803) Guam Spain United States Treaty (1898) Virgin Islands Denmark United States Purchase (1917) Modern territorial acquisitions rarely occur through purchase or claim. Instead, international law emphasizes self-determination and bilateral agreements. The 1933 Eastern Greenland case established Denmark’s sovereignty legally. The Permanent Court of Justice ruled definitively on this matter. Contemporary claims would face significant legal hurdles. National Security Dimensions of Arctic Control Military experts identify several security considerations regarding Greenland. First, its location provides early warning capabilities against missile threats. Second, melting ice opens new naval routes requiring monitoring. Third, undersea communications cables cross Greenlandic waters. Fourth, mineral resources including rare earth elements attract economic interest. The United States already maintains substantial Arctic capabilities: Thule Air Base: Space surveillance and missile warning systems Icebreaker Fleet: Coast Guard vessels for polar operations NORAD Coordination: Joint US-Canada aerospace defense Submarine Patrols: Undersea monitoring in Arctic waters Satellite Coverage: Comprehensive polar region observation Russia has dramatically expanded its Arctic presence recently. The Northern Fleet operates from Murmansk with nuclear capabilities. Furthermore, Russia has reopened Soviet-era military bases across its Arctic coastline. New radar installations and airfields enhance Moscow’s monitoring capabilities. China has declared itself a “near-Arctic state” despite geographical distance. Beijing’s Polar Silk Road initiative seeks economic influence. Economic and Environmental Considerations Greenland possesses substantial natural resources beneath its ice sheet. Estimates suggest significant deposits of: Rare earth elements essential for electronics Oil and natural gas reserves Mineral resources including iron ore and uranium Freshwater reserves in glacial ice Fishing stocks in surrounding waters Climate change dramatically affects Greenland’s environment. The ice sheet loses approximately 270 billion tons of ice annually. This contributes significantly to global sea level rise. Melting also exposes previously inaccessible mineral deposits. Environmental groups emphasize protection of fragile Arctic ecosystems. Indigenous communities depend on traditional hunting and fishing practices. International Reactions and Diplomatic Fallout Global responses to Trump’s statement emerged rapidly. Danish Prime Minister Mette Frederiksen reaffirmed Greenland’s status immediately. She stated, “Greenland is not for sale. Greenland is not Danish. Greenland belongs to Greenland.” The Greenlandic government echoed this position through official channels. European Union officials expressed support for Denmark’s sovereignty. NATO allies face delicate balancing considerations. The United States remains the alliance’s most powerful member. However, Denmark contributes substantially to NATO operations. Alliance solidarity requires careful diplomatic navigation. Russia’s Foreign Ministry called the statement “unhelpful” for regional stability. Chinese officials declined immediate comment but monitor developments closely. Arctic Council members convened emergency consultations. This intergovernmental forum includes eight nations with Arctic territory. Additionally, six indigenous organizations hold permanent participant status. The council traditionally focuses on environmental protection and sustainable development. Security matters typically remain outside its formal mandate. Conclusion President Trump’s Greenland territory assertion at Davos highlights evolving Arctic geopolitics. His statement emphasizes national security concerns about this strategically vital region. However, international law and diplomatic realities present substantial obstacles to territorial changes. The United States already maintains significant military presence through existing agreements. Future Arctic governance will require balancing security, environmental, and indigenous interests. Ultimately, Greenland’s status remains firmly within the Kingdom of Denmark despite renewed attention from Washington. FAQs Q1: What exactly did President Trump say about Greenland? President Trump stated Greenland is U.S. territory necessary for national security during his Davos address. He claimed no other country could properly secure the island. Q2: Does the United States have any legal claim to Greenland? No, international law recognizes Greenland as part of the Kingdom of Denmark. The 1933 Eastern Greenland case established Denmark’s sovereignty definitively. Q3: Why is Greenland strategically important? Greenland offers early warning capabilities against missile threats, controls emerging Arctic shipping routes, and contains valuable natural resources including rare earth elements. Q4: How has Denmark responded to Trump’s statement? Danish Prime Minister Mette Frederiksen immediately reaffirmed Greenland’s status, stating clearly that Greenland belongs to Greenland and is not for sale or transfer. Q5: What military presence does the U.S. currently have in Greenland? The United States operates Thule Air Base under a 1951 defense agreement with Denmark. This base provides missile warning and space surveillance capabilities without territorial claims. This post Trump’s Shocking Assertion: Greenland is US Territory Vital for National Security first appeared on BitcoinWorld .
