USDThis Week’s Global Policy: Gibraltar’s Crypto Framework, Dubai’s Digital Payment Push
Gibraltar Introduces World's First Regulatory Framework for Crypto Derivatives Clearing and Settlement
The Gibraltar government is establishing the world's first regulatory framework for the clearing and settlement of crypto derivatives in collaboration with crypto exchange Bullish. This initiative aims to enhance market integrity and reduce counterparty risks, allowing virtual asset derivative contracts to be managed by recognized clearing houses. Developed with the Gibraltar Financial Services Commission over the past six months, the framework adapts traditional financial regulations for the virtual asset sector. The new rules will facilitate the establishment of independent clearing houses, ensuring improved transparency and capitalization, thereby addressing potential failures in trade settlement commonly faced by unregulated exchanges.
Thailand to Issue $150M G-Tokens to Boost Digital Investment and Test Market
Thailand's Ministry of Finance plans to issue 5 billion baht ($150 million) in digital investment tokens, known as G-Tokens, within two months to raise funds and test the market. Finance Minister Pichai Chunhavajira stated that investors can expect higher returns than traditional bank deposits, which currently offer 1.25%-1.5% interest rates. This initiative follows a cabinet endorsement and aligns with a broader strategy to enhance the country's crypto landscape, including a tax exemption for crypto earnings and the approval of stablecoins USDC and USDT for trading on digital exchanges.
Panama City Mayor Considers Bitcoin Reserve After Meeting El Salvador’s Bitcoin Leaders
Panama City Mayor Mayer Mizrachi hinted at establishing a city-level Bitcoin reserve following a meeting with El Salvador’s Bitcoin leaders, Max Keiser and Stacy Herbert. His cryptic post on May 16 preceded the Bitcoin 2025 conference where he is set to speak. Panama recently approved using cryptocurrency for public payments, including taxes and fines. Mizrachi would need to collaborate with the National Assembly for federal legislation on a Bitcoin reserve. Notably, El Salvador has a Bitcoin reserve of 6,179 BTC, valued at approximately $640 million, and aims to leverage renewable energy for Bitcoin mining in both countries.
OCC Authorizes National Banks to Enter Crypto Markets, Responding to Growing Demand
On May 13, 2025, the OCC announced that national banks are authorized to engage in diverse crypto-asset activities, removing previous regulatory ambiguities. This policy shift, aligned with the Federal Reserve's recent guidance changes, allows banks to offer services like crypto custody and trading. Approximately 55 million Americans (21% of adults) own crypto, highlighting growing demand. While the U.S. banking system is poised for digital asset integration, implementation challenges include compliance with AML regulations and lack of FDIC insurance for digital assets. This shift represents a significant evolution in U.S. banking policy toward crypto, fostering competition with fintech firms.
Dubai Partners with Crypto.com to Facilitate Digital Asset Payments for Government Fees
Dubai has partnered with Crypto.com to accept digital asset payments for government fees, advancing its cashless strategy. The Department of Finance (DOF) aims for over 90% of transactions to be cashless by next year. Upon agreement finalization, customers can use Crypto.com’s digital wallets to pay fees, with the platform converting crypto into Emirati dirhams. The emirate is recognized as a crypto-friendly hub, preparing to host Binance Blockchain Week in December. DOF’s executive director emphasizes the partnership's role in enhancing regulatory frameworks, customer trust, and economic growth, solidifying Dubai's position in financial technology and global innovation.
Ukraine and Binance Team Up to Establish National Bitcoin Reserve Amid Ongoing Economic Challenges
Ukraine is drafting a policy to establish a national Bitcoin reserve in partnership with Binance, aimed at strengthening its economy amid ongoing financial pressure from the war with Russia. A draft bill, nearing completion, will create a legal framework for holding Bitcoin as a strategic asset, reflecting the country’s commitment to cryptocurrency adoption. Binance's support may lead to significant regulatory changes, enhancing Ukraine's crypto landscape. With Bitcoin prices around $103,000, this initiative seeks to diversify Ukraine's financial resources and attract global investment, positioning the country as a potential leader in cryptocurrency integration in Eastern Europe.
France Enhances Security for Crypto Entrepreneurs Amid Rising Kidnappings
French law enforcement is implementing enhanced security measures for crypto entrepreneurs and their families due to a rise in crypto-related kidnappings. Key measures include priority access to emergency police lines, home security assessments, and safety briefings. Interior Minister Bruno Retailleau initiated these steps following three kidnapping incidents this year, with the latest attempt occurring on May 13. Since 2014, there have been over 150 crypto-related robberies or kidnappings, with 23 incidents in 2025 alone. Experts advise caution in sharing personal information on social media to mitigate risks and discourage peer-to-peer trades with strangers.
This article has been refined and enhanced by ChatGPT.
