Supreme Court: The next step will focus on cracking down on crimes related to the use of virtual currencies, underground banks, and "money laundering" activities.

Stablecoin Yield Ban Emerges in New CLARITY Act Draft

Draft bans stablecoin yield and interest-like features, blocking direct and indirect reward structures across platforms. Allowed rewards include activity-based incentives, but must not depend on balances or resemble interest mechanisms. SEC, CFTC, and Treasury will define rules and anti-e

Golden Afternoon News | Important Midday Updates on March 24

Spain arrests suspect in Ledger co-founder kidnapping case, Aave v4 receives nearly unanimous support to proceed with mainnet deployment, while Russia allows Bitcoin and other cryptocurrencies to enter the market, and multiple central banks will increase gold holdings to address geopolitical risks.

Hainan Local Financial Regulatory Bureau Warns Against "Fake Digital Asset Exchanges" Chaos, Reiterates Domestic Ban on RWA Tokenization Business

Hainan Province Local Financial Management Bureau has issued a risk warning, alerting the public to recent fraudulent promotions impersonating the "Hainan International Data Asset Exchange" and other entities. It emphasizes that trading activities cannot be conducted without approval, and behaviors involving RWA and RDA may constitute illegal financial activities. The bureau reminds investors to remain vigilant.

Reuters: SEC Enforcement Chief Wanted to Prosecute Trump Ally Before Resignation, Blocked by Republicans

The U.S. Securities and Exchange Commission (SEC) former enforcement chief Margaret Ryan resigned after conflicts with senior officials over cases involving people close to Trump. Ryan had hoped to bring fraud charges against Justin Sun and Elon Musk, but was blocked. The SEC's enforcement direction changed abruptly due to political factors, raising concerns from Democrats.

US Proposes Ban on Stablecoin Yields, CLARITY Act Reshapes Crypto Business Model Boundaries

The latest draft of the CLARITY Act, being advanced by the U.S. Senate, prohibits stablecoin service platforms from offering yield to holders, which could impact the business models of stablecoins. While the draft allows certain rewards unrelated to account balances, the vague "economic equivalence" provision has sparked market concerns. The act is expected to enter the review stage in April and will have far-reaching implications for the crypto industry.

Kalshi Proposes Comprehensive Ban on Athletes and Politicians Participating in Related Market Trading

Crypto Finance reports that on March 24, according to Axios, US prediction market platform Kalshi announced it will upgrade its user access mechanism to proactively block sports-related individuals such as athletes, coaches, and officials from trading in their respective sports, while prohibiting political candidates from trading markets related to their own campaigns. This move aims to address mounting regulatory pressure on insider trading. Polymarket has also introduced new rules that strictly prohibit the use of non-public information.