Publicly listed financial services company SoFi has launched SoFi Crypto, allowing users to trade Bitcoin, Ethereum, Solana, and other crypto assets, while also accessing the company's other banking services. This launch marks the company's first return to the cryptocurrency space since 2023, after it discontinued its cryptocurrency service following "careful consideration."

Coinbase has abandoned its plans to acquire UK-based stablecoin infrastructure company BVNK, ending previously progressing negotiations for a potential $2 billion takeover. A Coinbase spokesperson stated, "After discussing the possibility of acquiring BVNK, both parties agreed not to pursue the matter further."

The Central Bank of Brazil has officially announced a regulatory framework for the cryptocurrency industry, requiring all Virtual Asset Service Providers (VASPs) to obtain a license from the central bank and hold at least 10.8 million to 37.2 million reais (approximately US$2 million to US$7 million) in capital, depending on the type of business. The new regulations bring cryptocurrency activities under the supervision of the foreign exchange and capital markets, requiring companies to regularly report cross-border transaction data and imposing restrictions on transactions involving stablecoins, self-custodied wallets, and cryptocurrency-to-fiat currencies.

According to Polymarket forecasting data, there is a 95% chance that the U.S. government will reopen by the end of this week.

Stablecoin payment company Transak has just secured six U.S. state Money Transmitter Licenses (MTLs) in six different states—, in Iowa, Kansas, Michigan, South Carolina, Vermont, and Pennsylvania — in its mission to achieve direct licensing coverage across all 50 states.

Why the most overlooked asset in cryptocurrency may actually be the most important asset.

In the case of *Binance Holdings Limited v. Ontario Securities Commission (OSC)*, the Ontario Court of Appeal dismissed the OSC's massive request for access to documents against Binance, finding its scope "appalling" and violating Section 8 of the Canadian Charter of Rights and Freedoms regarding the prevention of unreasonable searches and seizures. The court noted that while capital market participants have lower expectations of privacy in regulated activities, they are still protected by the Charter. The OSC's request for Binance to submit "all internal and related-party communications involving Canada over a two-and-a-half-year period" was deemed by the court to far exceed reasonable regulatory purposes. The ruling emphasized that while regulatory investigations can be conducted without evidence of wrongdoing, they must be limited to "the categories of documents reasonably relevant to the purpose of the investigation," otherwise they can be dismissed by the court. Furthermore, the court commented on Binance's use of encrypted communication tools such as Signal, which "automatically deletes messages," finding that the mere use of such technology is insufficient to presume an intention to "circumvent regulation," providing important clarification regarding the use of privacy-preserving communication software by financial institutions. This ruling is seen as establishing the boundaries of Canada's securities regulatory power and reminding companies that they can assert their privacy and due process rights under the Charter when faced with cross-border or overly broad investigative requests.

Coinbase has expanded its reach beyond the United States with the official launch of Coinbase Business in Singapore. source: https://cryptonews.com/news/coinbase-business-launches-in-singapore-bringing-usdc-payments-crypto-tools-to-startups/

A16z crypto has written to U.S. Treasury Secretary Scott Bessent, urging the Treasury to clarify key definitions in its implementation rules for stablecoin regulation and recommending that decentralized stablecoins be excluded from the scope of the GENIUS Act to promote innovation. This act, passed earlier this year, establishes a regulatory framework for "payment stablecoins," aiming to balance consumer protection, financial stability, and prevention of illicit financial flows. In its letter, a16z points out that decentralized stablecoins like Ethereum-backed LUSD are issued through autonomous smart contracts and are not controlled by a centralized entity; therefore, they "should not be considered as issued by any 'individual'" and should not be subject to Section 3(a) restrictions on licensed issuers. a16z suggests that the Treasury refer to the "control"-based decentralized determination framework in the 2025 Digital Asset Markets Clarity Act to exclude activities such as node operation, transaction verification, and the development of non-custodial wallets from intermediary regulation. Furthermore, a16z calls for a level playing field and the modernization of anti-money laundering (AML) and KYC rules to prevent risks while avoiding stifling innovation. Michele Korver, head of regulation at a16z, added that decentralized digital identities (DIDs), combining zero-knowledge proofs and multi-party computation, can strengthen national security while protecting privacy, helping to combat fraud and illicit transactions. (The Block)

Google has entered a new deal with Turkcell, Turkey’s biggest mobile operator, to build the country’s first hyperscale data center by 2029. source: https://www.cryptopolitan.com/google-turkcell-on-hyperscale-data-center/

According to PANews, Visa has announced the initiation of a pilot program in the United States that allows businesses to make payments in stablecoins, such as USDC, through fiat accounts like the U.S. dollar. This service is facilitated by the Visa Direct digital payment network and aims to provide more efficient cash flow for industries reliant on rapid payments, such as international businesses and freelancers. Visa President Chris Newkirk stated that the initiative seeks to enable global fund transfers in minutes rather than days. Currently, Visa is collaborating with select partners and plans to expand the service further in 2026. Research conducted by Visa indicates that 57% of freelancers prefer digital payment methods for quicker access to funds.

The company also suggested using decentralized digital identity as a tool for combating illicit finance in crypto. source: https://www.theblock.co/post/378498/a16z-decentralized-stablecoins-genius-act?utm_source=rss&utm_medium=rss

China has accused the U.S. of seizing 127,000 bitcoin, worth around $13 billion, in what it calls a state-backed cyber operation rather than a legal asset confiscation. The U.S. says the coins were linked to a Cambodian crypto fraud case, but China argues the seizure shows government-level involvement.

If the previous cycle was about "cryptocurrencies fighting against regulators," then this cycle is more like "cryptocurrency developers pursuing compliant development within a regulatory framework."

Bitcoin (BTC) surged this week, climbing 6.7% to break past the $106,000 mark as optimism swelled around a U.S. Senate bill expected to end the longest government shutdown in American history.

The next edition of Blockchain Life will take place in Dubai on December 1-2, right on the eve of the Formula 1 Grand prix.

Digital asset treasuries (DATs) have become one of the explosive phenomena of this crypto cycle, but most of these stocks are now marginalized. This article will delve into the root causes of DAT's continued underperformance and the potential risks if the market shifts towards DATs.

Character.AI faced a wave of users quitting after a viral screenshot showed its emotional account deletion message, sparking backlash over manipulation and dependency. The company’s new CEO has since defended stricter safety rules and a ban on under-18 users, saying some user loss is expected.

SoftBank Group is going all-out to fund its $40 billion commitment to OpenAI — liquidating major holdings, issuing debt, and drawing bridge loans in one of the boldest financing maneuvers in its history.

The roundtable discussion at the 2025 Asia Digital Finance Summit looked ahead to cryptocurrency regulatory policies in South Korea, Malaysia, and Indonesia.