vance

According to the official announcement from the Pakistan Virtual Assets Regulatory Authority (PVARA), all virtual asset services are included under PVARA's regulatory scope and must obtain prior authorization before commencing operations or making public announcements.PVARA welcomes responsible innovation and encourages relevant parties to engage in communication as early as possible. Innovation can be conducted through compliance pathways such as regulatory sandboxes, No-Action Relief Letters, and No Objection Certificates (NOC).

According to Insight Korea, South Korea's digital bank K Bank has established a strategic partnership with blockchain company Ripple to advance the verification of next-generation cross-border remittance technology based on blockchain.Both parties will focus on assessing the optimization potential in remittance speed, cost structure, and transaction transparency through Ripple's global payment network and infrastructure. The current collaboration includes proof of concept based on digital wallets, joint development of cross-border remittance models, and expansion in the digital asset field. The ongoing second phase of testing has simulated the connection between the bank's internal systems and customer accounts, testing on-chain fund transfers aimed at the UAE and Thailand. K Bank is also evaluating the adoption of Ripple's SaaS digital wallet Palisade to enhance compliance and deployment efficiency.

The crypto market structure bill has seen almost no public progress in the past month. While it is quite difficult to predict the outcome of the bill, the window for passing it is narrowing. Many actions surrounding the market structure issue—such as statements from staff at the Securities and Exchange Commission (SEC)—are not permanent guidance. The SEC has time to issue rules that require public notice and comment periods, but this will take time.The market structure legislation aims to codify the goals of the crypto industry and regulatory rules into law, making it more difficult for future governments to overturn these rules. In other words, without the Clarity Act, we could very well still be having the same discussions years from now.Since at least last December, May 25, Memorial Day, has been viewed as the "deadline" for legislative progress. After entering summer, lawmakers will leave Washington to campaign, leaving little time for the crypto bill (or most other legislation). Before Congress recesses, the House still needs to consider a bill that provides funding for the Department of Homeland Security, while the Senate must decide whether Kevin Warsh will become the next Federal Reserve Chair.The crypto industry is eager for the bill to pass. Over 100 organizations signed an open letter last week urging the Senate Banking Committee to hold a hearing on the bill, which would be the first step in the overall passage process. However, it is currently unclear how far the committee is from moving forward. The issue of stablecoin yields continues to dominate discussions, and other unresolved issues remain unaddressed at least in public.Even if these issues are resolved, the House will still need to vote on the bill again. House Financial Services Committee Chairman French Hill stated earlier this month that many unresolved issues surrounding stablecoin and DeFi sales practices have been addressed in the House version of the bill, and the Senate should be able to find consensus.

According to Jinshi, U.S. President Trump warned bankers at a cryptocurrency conference not to obstruct the advancement of cryptocurrency legislation.

India is promoting the application of the digital rupee through about 10 welfare pilot projects, distributing part of the approximately $80 billion in subsidies and food benefits via e-rupee to reduce fund leakage and corruption, and to provide a clearer use case for central bank digital currency.At the same time, the Reserve Bank of India is pushing for a cross-member CBDC interconnection plan to be proposed at the 2026 BRICS summit, aiming to enhance the efficiency of cross-border trade settlements and reduce reliance on the US dollar. Currently, there are about 10 million e-rupee users, with a cumulative transaction amount of approximately $3.6 billion, which is still significantly lower than the UPI system that processes about $300 billion in transactions monthly in India.

According to CoinDesk, more than 100 U.S. cryptocurrency companies and industry organizations have written to the Senate Banking Committee, urging the advancement of the Clarity Act for the establishment of a federal regulatory framework for the digital asset market. The signatories include Coinbase, Ripple, Kraken, Andreessen Horowitz, Paradigm, Consensys, and others.Their core demands include clarifying the regulatory division between the SEC and CFTC, protecting developers of non-custodial tools, simplifying information disclosure rules, and avoiding fragmented regulatory standards across states. The signatories stated that if the U.S. continues to lack a comprehensive cryptocurrency regulatory framework, investment, employment, and development activities may flow overseas.

According to Cointelegraph, U.S. Treasury Secretary Scott Bessent stated in the Senate that it is crucial to legislate on the structure of the cryptocurrency market, emphasizing that "the United States is a global technology leader and should also be a global payments leader."

Kim Hyun-jung, a member of the Democratic Party of Korea's Digital Assets Special Task Force, stated that they plan to submit the basic law on digital assets related to stablecoins (Phase Two legislation) after the local elections and simultaneously advance the review of the bill in the subcommittee.He pointed out that there are still differences regarding issues such as the shareholding restrictions for major shareholders of exchanges, which need further discussion. At the same time, he believes that, in the context of the Bank of Korea Governor Shin Hyun-sung's positive attitude towards stablecoins, relevant legislation is expected to progress. In addition, the task force is considering meeting with him after the elections to advance the design of the CBDC and the Korean won stablecoin system.

According to Jin Shi reports, Federal Reserve Chair nominee Waller stated that he is working with the Treasury Secretary to advance the Federal Reserve's balance sheet reduction efforts.

The Coinbase Quantum Computing and Blockchain Independent Advisory Committee has released its first position paper stating that sufficiently powerful quantum computers may be able to crack the encryption mechanisms used by mainstream blockchains to protect digital assets in the future. However, such devices do not currently exist, and encrypted assets remain secure for now. The industry should begin preparing for quantum resistance upgrades starting now.The document points out that there are currently no substantial risks associated with Bitcoin mining, hash functions, and on-chain historical records; the main vulnerability lies in the digital signatures at the wallet layer. Ethereum has proposed a clearer migration roadmap, and Solana, Algorand, and Aptos have also begun to provide or plan quantum resistance solutions.

According to The Block, the new governor of the Bank of Korea, Shin Hyun-song, delivered an inaugural speech promising to promote the development of central bank digital currency (CBDC) and deposit tokens, and will expand related applications through the "Han River Project" Phase Two, while participating in global collaborations such as Project Agora to strengthen the position of the Korean won in the global payment system.It is noteworthy that Shin Hyun-song did not mention the Korean won stablecoin in his speech, despite South Korean legislators actively advancing the "Digital Asset Basic Law" to establish a legal framework for stablecoins, with discussions expected to resume after the regional elections on June 3. Previously, during his tenure at the Bank for International Settlements (BIS), Shin held a negative attitude towards stablecoins, believing that stablecoins could not replace currency, but it has been reported that his stance has changed, stating that the Korean won stablecoin should coexist with CBDC.

ChainCatcher reported live that Hong Kong Legislative Council member (Technology and Innovation sector) Kenneth K.Y. Lau shared a keynote speech titled "Steady and Progressive Development Keeps Hong Kong at Forefront of Web3 Expansion" at the 2026 Hong Kong Web3 Carnival.He reviewed the development of Web3 in Hong Kong since 2022, from the licensing system for virtual asset service providers, the pilot of tokenized products, to last year's Policy Declaration 2.0 and the SFC ASPIRe roadmap, believing that regulatory clarity is the primary condition for the industry's development.He specifically compared the regulatory paths of the United States and Hong Kong, pointing out that although the U.S. has introduced important documents such as the Clarity Act, Genius Act, and the joint statement from the SEC and CFTC, the political situation may lead to legislative delays or even reversals; in contrast, Hong Kong provides a stable, transparent, and continuous development environment in terms of product classification, legislation, and infrastructure.He also mentioned the potential threat of quantum computing to the cryptocurrency industry, believing that at least five more years are needed, but the industry should prepare in advance at the cryptographic level. Finally, he emphasized that Hong Kong needs more technology developers and should promote cross-jurisdictional connectivity to form a positive flywheel for product issuance, investor participation, and innovator entry.

According to CCTV International News citing American media reports, U.S. President Trump said today (April 19) in an interview, "For security reasons, U.S. Vice President Pence will not attend the U.S.-Iran negotiations again."According to Trump, U.S. presidential envoy Hook and Kushner will arrive in Islamabad, the capital of Pakistan, on the evening of April 20, Eastern Time, to participate in the U.S.-Iran negotiations scheduled for April 21.

According to Edaily, Kim Sang-hoon, the chairman of the Digital Assets Special Committee of the People Power Party of Korea, expressed concerns about the restrictions on equity in cryptocurrency exchanges at an academic conference. He called for the prioritization of advancing the basic law on digital assets related to stablecoins (Phase Two legislation) to avoid getting caught in equity regulatory disputes and missing the golden legislative opportunity.He pointed out that the reality of the issuance and circulation of the Korean won stablecoin KRWQ has emerged overseas, posing a severe challenge to monetary sovereignty. Kim Sang-hoon emphasized that the law should provide market predictability, offer clear guidance for operators, and establish effective safety mechanisms for users.

According to Cointelegraph, former U.S. Treasury Secretary Henry Paulson warned that U.S. authorities should prepare short-term, targeted emergency plans in advance for the potential collapse of future U.S. Treasury demand. He stated that once a crisis occurs, the impact will be severe. The U.S. Treasury market is seen as the cornerstone of the global financial system, and if it becomes unstable, it could affect the pricing of corporate bonds, mortgages, and stocks.The report pointed out that if a crisis weakens confidence in the dollar, it could drive funds toward alternative value storage assets like Bitcoin and gold; however, Tether, which uses U.S. Treasuries as its main reserve asset, may also face redemption and de-pegging risks.

According to CoinDesk, Blockstream CEO Adam Back stated at Paris Blockchain Week that Bitcoin developers should advance optional quantum-resistant upgrades as early as possible, even though practical quantum computers are still far from being realized.He pointed out that Taproot's flexible design can support the introduction of new quantum-resistant signature schemes without affecting existing users. Previously, Jameson Lopp and others proposed BIP - 361, which aims to gradually phase out addresses vulnerable to quantum attacks within 5 years and freeze Bitcoin that has not completed migration. Adam Back believes that the Bitcoin community can quickly coordinate responses in emergencies without the need for pre-established freezing arrangements.

According to a report by Xinhua cited by Jinshi, after the negotiations between the United States and Iran concluded, there are no longer any U.S. representatives remaining in Pakistan. U.S. President Trump's envoy Wittekov, Trump's son-in-law Kushner, and the U.S. technical team have all left the capital of Pakistan, Islamabad. U.S. Vice President Vance arrived at Ramstein Air Base in Germany before 7 a.m. Eastern Time on the 12th.According to previous reports from Pakistani media, Vance left Pakistan on the 12th local time.

According to Caixin, U.S. Vice President Vance stated at a press conference that negotiations between the U.S. and Iran have not reached an agreement, and the U.S. negotiating delegation he leads will return home. Vance mentioned that the U.S. side has shown "considerable flexibility and sincerity" during the negotiations and has clearly outlined "acceptable and unacceptable conditions," but the Iranian side "chose not to accept." Vance also revealed that during approximately 21 hours of negotiations, the U.S. delegation maintained communication with President Trump and the national security team, and has presented Iran with a "final proposal," awaiting a response from the other side.

According to a report by CNN on the 11th, citing a senior Pakistani source, U.S. Vice President Vance played a key role in facilitating the U.S.-Iran negotiations set to start in Islamabad, Pakistan.The source familiar with the negotiation process stated that they estimate it will take several days of negotiations to finalize a ceasefire agreement, and Pakistani officials hope to persuade Vance to extend his stay in Pakistan to assist in this matter.Additionally, a senior source from the Gulf region revealed that Iran has very low trust in U.S. President Trump's envoy, Witkoff. Previously, Witkoff had led multiple rounds of negotiations with Iran, but these negotiations were interrupted due to U.S. military strikes against Iran. Witkoff is one of the members of the U.S. delegation participating in the Islamabad negotiations.

According to a report by Jinshi citing Xinhua News Agency, a U.S. negotiating delegation led by Vice President Vance arrived on the 11th at the Nur Khan Air Base located in the city of Rawalpindi near the capital of Pakistan, Islamabad.