Hacked Iranian crypto exchange Nobitex is slated to resume withdrawal services, starting with verified users.

Hacked Iranian crypto exchange Nobitex slowly restores services

“Most people aren’t equipped for true self-custody,” said Circuit’s founder 
and CEO, Harry Donnelly.

Circuit unveils recovery system to solve crypto’s ‘permanent loss’ conundrum

Approval could set a precedent for broader crypto ETF adoption, potentially 
transforming investment landscapes and regulatory approaches.
The post SEC to rule on Grayscale’s proposal to convert Bitcoin, Ether, XRP, 
and ADA large-cap fund into a spot ETF appeared first on Crypto Briefing.

SEC to rule on Grayscale’s proposal to convert Bitcoin, Ether, XRP, and ADA large-cap fund into a spot ETF

Crypto&#8217;s true value isn&#8217;t in dismantling traditional finance, but in bridging 
it with decentralized innovation. The crypto industry can create a more open, 
efficient and resilient financial system that enhances, not replaces, 
established institutions.

Crypto's value lies in bridging the gap between tradition and disruption

South Korea pressed pause on its central bank digital currency (CBDC) 
initiative, even as its new government pivoted toward promoting domestic 
stablecoins. Telling banks involved that introducing won-denominated 
stablecoins would be ‘desirable,’ South Korea&#8217;s central bank has slowed down 
on any progress towards a CBDC. In the meantime, Hong Kong is rolling out a 
regulatory framework for stablecoin issuance aimed at challenging U.S. dollar 
dominance and bolstering its own financial infrastructure. Both countries 
reinforce a common perception: crypto is here to stay, and you’ll need a top- 
notch crypto wallet like Best Wallet app to keep on top of everything. South 
Korea: Cold Feet on CBDC, but Full Speed Ahead on Stablecoins In a surprise 
move, the Bank of Korea halted the second phase of its CBDC pilot, planned for 
later this year, for further review. The advanced pilot, involving peer-to- 
peer transfers and merchant payments, takes a back seat amid rising concern 
over cost, commercialization ambiguity, and regulatory readiness. This policy 
change is strongly influenced by President Lee Jae‑myung’s administration, 
which won elections earlier in June based at least partly on crypto promises. 
The new administration also fostered a regulatory framework enabling firms 
with modest capital (₩500 million ~ US$370K) to issue stablecoins under the 
Digital Asset Basic Act. At a time when over a third of South Korea’s 
population – roughly 18M people – trade crypto, boosting stablecoins seems 
like a solid move. The decision to move away from a CBDC is a bit more 
surprising. Still, with so many investors trading crypto daily, there’s a real 
desire to build and strengthen frameworks like the ones for stablecoins. Other 
countries are making similar moves, though perhaps for more political reasons. 
Hong Kong: Regulating Stablecoins to Reduce U.S. Dollar Dependence Hong Kong 
is set to enforce its Stablecoins Ordinance starting August 1, 2025. Passed on 
May 21, the law mandates HKMA licensing for any fiat-referenced stablecoin 
issuer targeting the city’s residents. The rigorous licensing requirements 
cover reserve holdings, fund segregation, redemption rights, and anti-money- 
laundering protocols. Hong Kong Financial Secretary Paul Chan ties the 
initiative to China’s broader de‑dollarization strategy, highlighting 
stablecoins as pivotal for trade and cross-border payments in local 
currencies. In his words: ‘Fintech has great potential in the application of 
cross-border trade, and the goal is to solve the long-standing pain points of 
slow and high cost of cross-border payment, and better serve the real economy 
in the field of payment… stablecoins are a cost-effective alternative to the 
traditional financial system and have the potential to revolutionize payments 
and capital market activities, including cross-border payments. The stablecoin 
legislation will… encourage issuers to extend the application of stablecoins 
to different scenarios, and help solve the real pain points of enterprises in 
business and people&#8217;s lives.’ Hong Kong anticipates local issuers and 
regulated institutions taking the lead, with limited retail uptake initially, 
but significant promise for cross-border institutional use. And as retail 
interest grows, more and more investors are going to need a crypto wallet – 
the best kind of crypto wallet. Best Wallet Token ($BEST) – Supercharge the 
Leading Web3 Wallet for the World Crypto Economy Best Wallet Token ($BEST) 
takes two key ingredients for crypto wallet utility and creates something even 
more powerful. The first element is a simple, powerful web3 wallet – Best 
Wallet app. With MPC and biometric security, the ability to set up multiple 
wallets, and a unique upcoming tokens hub to research and purchase hot crypto 
presales, Best Wallet app gives new and experienced crypto users everything 
they need to succeed in today’s crypto economy. The $BEST token supercharges 
the entire ecosystem. Token holders gain: ✅ Reduced transaction fees ✅ Better 
staking returns ✅ Exclusive project access ✅ Governance rights The ongoing 
presale has raised $13.6M so far. $BEST tokens are on sale for $0.025255, but 
our price prediction shows they could reach $0.05106175 by the end of 2026, 
delivering 102% gains for presale participants. Learn how to buy Best Wallet 
Token to avoid missing out. Visit the Best Wallet token presale now. What 
These Moves Signal Both governments seek to balance private stablecoin 
innovation with preserving monetary policy control. South Korea’s pivot 
reflects a pragmatic approach: redirecting momentum from costly and uncertain 
CBDC deployment toward a more agile, regulated stablecoin model. Hong Kong’s 
strategy signifies a calculated expansion of its role in the global digital 
asset economy, linking stablecoin issuance to monetary liberalization and 
regional trade objectives, and supporting China’s broader political goals. In 
each case, the success of stablecoin ambitions hinges on the dirty details of 
regulation, institutional participation, and financial market dynamics. And 
success means that everyone, not just major institutions, will want their own 
Web3 wallet. As always, do your own research – this isn’t financial advice.

South Korea Pauses CBDCs, Stablecoins Heat Up: Here’s Why Best Wallet Wins the New Crypto Framework

From Silk Road to today, dormant wallets and mixing tools are no longer enough 
to hide illicit funds onchain, as ZachXBT’s investigations continue to prove.