China Plans to Ban Personal Crypto Holdings; US and Asia Crypto Movements

The Chinese government intends to ban personal cryptocurrency holdings, including Bitcoin, after previously banning mining and trading activities. Meanwhile, the SEC clarified that staking on Proof-of-Stake platforms does not constitute a security offering. The US imposed sanctions on Funnull Technology and two crypto wallets, suspected of links to fraud related to Huione Group. FTX is distributing over $5 billion in stablecoins to creditors today. In Hong Kong, the XRP token is now available on the licensed HashKey exchange, accessible to both retail and institutional investors. Pakistan's Binance partnership with the Ministry of IT has launched a blockchain program for 80,000 students across 20 universities. Revolut aims to resume crypto services in the US following regulatory challenges. Kazakhstan’s AIX exchange has partnered with Solana Foundation and DEX Jupiter for a dual listing mechanism involving IPOs and tokenized shares on Solana. Significant transactions include a major investor transferring 6,500 BTC (~$684 million) to Kraken, and the Ethereum Foundation moving 1,000 ETH (~$2.61 million). Additionally, crypto trader 0xc653 closed a long position in 1,200 BTC with an $8.25 million loss. Token prices for POKT and LPT surged by 393% and 130%, respectively, after listing on Upbit.