Latest news with #CryptoCouncil
Crypto Insight
4 days ago
- Business
- Crypto Insight
RWA token market grows 260% in 2025 as firms embrace regulating crypto
The tokenization of real-world assets (RWAs) surged in the first half of 2025 as increased regulatory clarity fueled broader adoption of blockchain-based financial products. Real-world asset tokenization refers to financial and other tangible assets minted on the immutable blockchain ledger, increasing investor accessibility and trading opportunities for these assets. The RWA market surged more than 260% during the first half of 2025, surpassing $23 billion in total valuation. It was $8.6 billion at the beginning of the year, according to a Binance Research report shared with Cointelegraph. Tokenized private credit led the RWA market boom, accounting for about 58% of the market share, followed by tokenized US Treasury debt, which accounted for 34%. 'As regulatory frameworks become clearer, the sector is poised for continued growth and increased participation from major industry players,' the report said. RWAs have no dedicated regulatory framework and are considered securities by the US Securities and Exchange Commission (SEC). However, the sector still benefits from regulatory developments in the broader crypto space. On May 29, the SEC issued new guidance on cryptocurrency staking, a development that was seen as a step toward 'more sensible regulation,' marking a significant win for the industry, Alison Mangiero, head of staking policy at the Crypto Council for Innovation, told Cointelegraph. The industry is awaiting a full Senate vote on the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act, which aims to set clear rules for stablecoin collateralization. Other analysts pointed to Bitcoin's temporary price consolidations as the main driver for the RWA market's growth, as a safer investment option with a predictable yield. Corporate FOMO fuels Bitcoin balance sheets A renewed corporate 'FOMO,' short for fear of missing out, is inspiring increasingly more companies to adopt Bitcoin on their balance sheets. At least 124 public companies are now holding Bitcoin as part of their corporate treasury, according to data from While the summer may bring a slowdown in overall crypto market activity, broader macro conditions and regulatory developments will largely dictate the pace of corporate Bitcoin adoption, a Binance Research spokesperson told Cointelegraph, adding: 'Corporate BTC adoption is driven by long-term balance sheet strategy, treasury diversification and capital-raising activity.' Long-term investment perspectives will likely continue driving Bitcoin's corporate adoption, rather than 'short-term liquidity or seasonal market dynamics,' the researchers added. Source:
Business Recorder
6 days ago
- Business
- Business Recorder
Senate body concerned at absence of legal cover for PCC establishment
ISLAMABAD: The Senate Standing Committee on Information Technology and Telecommunication raised serious concerns over the absence of legal cover for establishment of Pakistan Crypto Council, while saying that crypto currency adoption could become a mega scandal. The parliamentary panel met with Palwasha Khan in the chair here on Monday to review the scope and mandate of Pakistan Crypto Council recently launched by the federal government. The committee questioned the legal standing of the council and reiterated that the legislature has not been taken into confidence prior to the establishment of the Council. Senator Humayun Mohmand inquired as to whether or not the council could be created by the Executive orders? The committee further inquired about the role of IT Ministry in Crypto Council. The ministry failed to satisfy the committee over the legal cover for Crypto Council. The IT Secretary,ZarrarHasham Khan, stated that the ministry has a role of providing input with regard to TORs. The committee was of view that the Crypto Council should be under the preview of the Ministry of IT, rather than the Finance Ministry. After due deliberations, the committee deferred the matter and decided to invite the Finance Ministry in the next meeting for a comprehensive briefing. The IT secretary said that information technology and IT-enabled services (ITeS) exports target of $5 billion is set for the next fiscal year. The country is likely to miss the exports target of $4.2 billion set for the outgoing fiscal year. IT exports is expected to reach $3.8 billion by the end of current fiscal year i.e. end June 2025 compared to $3.2 billion during the same period of last fiscal year. Discussing the issue of renewalof LDI/FLL licenses, the IT secretary informed that the consultation with the stakeholders has been completed as per the directions of the Sindh High Court (SHC), and the final decision will be announced in two to three weeks. Furthermore, the committee was briefed on the role of the IT Ministry in Pakistan Digital Authority. The IT secretary apprised that the Pakistan Digital Authority has been tasked to implement digital transformation initiatives focused on making the economy and governance digital, and will eventually play a major role in creating citizens centered 'Digital Society'. However, the IT Ministry is mainly responsible for policy formulation, legislation, governance in IT and telecommunications sector, he added. Copyright Business Recorder, 2025
Crypto Insight
31-05-2025
- Business
- Crypto Insight
SEC crypto staking guidance ‘major step forward' for US: Crypto Council
The US Securities and Exchange Commission's (SEC) new guidance on cryptocurrency staking is widely seen as a major win for the crypto industry and the push toward globally consistent digital asset regulation. In a May 29 statement, the SEC's Division of Corporation Finance said 'Protocol Staking Activities' such as cryptocurrencies staked in a proof-of-stake blockchain 'don't need to register with the Commission transactions under the Securities Act.' The agency's new guidance marks a 'major step forward' for the US cryptocurrency industry, said Alison Mangiero, head of staking policy at the Crypto Council for Innovation. 'The SEC has now recognized what we've long argued: Staking is a core part of how modern blockchains operate, not an investment contract,' she told Cointelegraph. 'That clarity is critical.' Crypto industry watchers have long advocated for clearer guidelines on staking. In April, the CCI's Proof of Stake Alliance project led a coalition of almost 30 organizations to submit a detailed letter to the SEC's Crypto Task Force, outlining that a non-custodial or custodial staking service provider is 'distinct from investment contracts.' 'The SEC has opened the door to more sensible regulation,' said Mangiero, adding that this is a 'win for stakers and the broader crypto community.' However, industry participants are still waiting for the approval of the first Ether staking ETFs. On May 21, the SEC delayed its decision on Bitwise's application to add staking to its Ether ETF, along with its decision on Grayscale's XRP ETF. SEC guidance marks 'notable shift' The SEC's new guidance marks a 'notable shift from previous enforcement-heavy approaches,' said Marcin Kazmierczak, co-founder and chief operations officer at blockchain oracle firm RedStone. 'This represents genuine progress toward regulatory clarity, but it's evolutionary rather than revolutionary,' he told Cointelegraph. 'The foundation is being laid for more comprehensive crypto regulation, with staking ETF approval becoming increasingly plausible by late 2025,' Kazmierczak added. The establishment of the SEC's dedicated Crypto Task Force on Jan. 21 marked another step away from the previous enforcement-heavy regime. The task force, headed by Commissioner Hester Peirce, is preparing to release its first report on regulations during the 'next few months,' SEC Chair Paul Atkins said in a May 20 hearing. The new guidance comes after years of efforts by CCI's Proof of Stake Alliance, which has been educating policymakers about the importance of cryptocurrency staking. 'We've consistently argued that protocol staking is not an investment activity — it's a core function of how modern blockchains operate,' said Mangiero, adding that the new SEC guidance is a meaningful progress toward 'recognizing that distinction.' Source:
Economic Times
25-05-2025
- Business
- Economic Times
Pakistan allocates 2,000-MW capacity to power Bitcoin mining
Pakistan has allocated 2,000 megawatts of electricity in the first phase of a national push to support Bitcoin mining and AI data centres, as the country moves to legalise cryptocurrency and attract foreign investments. The initiative, led by the Pakistan Crypto Council, will also help monetise surplus energy and create high-tech jobs, the finance ministry said in a statement. Coal-based power projects like Sahiwal, China Hub, and Port Qasim, currently operating at 15% capacity, are among those expected to be repurposed for this effort, the ministry said. Pakistan's federal government is seeking investments to bolster an economy that narrowly avoided default in 2023. With an estimated 15-20 million crypto users, the country aims to establish a regulatory framework to boost its local ecosystem and attract global capital. In April, it roped in Changpeng Zhao, the co-founder of the world's largest crypto exchange Binance, to set up a digital finance platform. The Crypto Council has also signed an initial pact with US President Donald Trump's crypto project to accelerate blockchain innovation. The country has attracted interest from global crypto miners and data infrastructure firms, according to the finance ministry statement, which didn't disclose specific names.
Business Recorder
21-05-2025
- Business
- Business Recorder
National Islamic Economic Conference: Leaders support ‘Sharia-compliant model'
KARACHI: At the third National Islamic Economic Conference 2025, leaders from government, finance, and religious institutions united in their support for transforming the country's financial system into an interest-free, Sharia-compliant model. The third NIEC 2025 titled 'Towards the Islamic Digital Economy,' was organised by Saylani Welfare International Trust in collaboration with the National Islamic Economic Forum (NIEF) and Darul Uloom Memon. Addressing the conference Governor Sindh Kamran Tessori praised the Prime Minister's 'Uraan Pakistan' initiative and emphasized the importance of Islamic banking, AI-driven innovation, and national resilience. With strong backing from scholars, the judiciary, and the State Bank, Pakistan is on track to become a global leader in the Islamic digital economy by 2027. Governor Sindh, Kamran Khan Tessori, commended Prime Minister's efforts under the 'Uraan Pakistan' initiative to elevate the national economy. He stressed the importance of transitioning from a conventional to an interest-free Islamic financial system. Tessori pointed out the need to embrace artificial intelligence (AI) to remain globally competitive, while acknowledging Saylani Welfare's efforts in advancing AI education among youth. Allama Raghib Hussain Naeemi stated that the Islamic Ideological Council has opposed the interest-based financial system from the very beginning and has already submitted its comprehensive report. The Federal Shariat Court has ruled for the complete implementation of the Islamic banking system, replacing the conventional banking system, by 2027. He expressed full support for the State Bank's efforts in this regard. The Council recommended that funds related to Hajj and Zakat should be managed under the Islamic banking system. Highlighting the growing trend of e-commerce, he said it is rapidly becoming a popular trade method, necessitating a clear framework for such transactions. He welcomed the establishment of the Crypto Council but stressed the need for discussion on the volatility of digital currencies. He emphasized that if the state's leadership focuses its attention, Pakistan could soon transition to an interest-free banking system. Allama Naeemi mentioned that the Shariat Court has already issued orders to eliminate interest, and the Islamic Ideological Council continues to provide guidance on Islamic banking. Since 2025, a trend toward digital economic growth has been observed, making it crucial to safeguard Hajj and Zakat funds in Islamic banks. He also pointed out that the number of internet users in Pakistan has reached 170 million, making it the fifth largest in the world. However, he highlighted a lack of experts in this field. Speaking about the Crypto Council established in 2025, he noted that scholars have not yet addressed the critical discussions required on the subject. Mufti Muneeb-ur-Rehman stated that according to the Shariat Court's order, all banks must transition to the Islamic banking system by the end of 2027. Currently, banks have only two years, seven months and 11 days left to implement this, but there seems to be no significant activity in the government or banking sector regarding this transition. He further criticized the government, saying it is itself involved in interest-based transactions in many areas. He called for conferences that not only raise awareness but also motivate and initiate concrete actions. He also praised the efforts of organisations like Saylani, the NIEF, and Darul Uloom Mehmoodabad in opposing the interest-based system. Mufti Muneeb referred to the events of December 16, 1971, stating that the dagger India thrust into Pakistan's heart has been countered effectively. He commended the sacrifices of the Pakistani Armed Forces, adding that their recent successes prove that with Allah's help, Pakistan has defeated a much larger enemy. He emphasized that following Allah's commandments in all aspects would lead to further divine assistance. Maulana Bashir Farooqi, in his brief speech, stated that 'eliminating the interest-based system by 2027 is essential. Interest is a war against Allah and His Messenger, and no one can succeed in such a war.' He said Saylani is collaborating with relevant institutions to promote the Islamic digital economy. Chairman of the Securities and Exchange Commission of Pakistan (SECP), Tariq Naseem, noted that Islamic fintech is resolving issues related to Islamic financing. He highlighted the need to provide facilities for the 7 million microfinance bank users who are currently unable to open bank accounts. Faisal Bank's President, Yousuf Hussain, spoke about the progress being made in promoting Islamic banking but acknowledged that several issues still need to be addressed. Chairman of ABAD, Hasan Bakhshi, commended the efforts of the State Bank's Governor in promoting Islamic banking. He revealed that 90% to 95% of investors and buyers in the construction industry are inclined towards Islamic banking, emphasizing the sector's significant potential. He called for commercial banks to accelerate their shift toward Islamic banking. The conference concluded with the signing of several Memorandums of Understanding (MOUs) between Saylani and various financial institutions to collaborate on promoting an Islamic economy. Copyright Business Recorder, 2025
