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Crypto
Pakistan opens banking to crypto operators, mandates customer fund segregation
Pakistan\'s central bank has allowed banks to open and maintain accounts for licensed virtual asset service providers, effectively ending a ban on crypto-related financial transactions in place since 2018. Banks must verify licences issued by the Pakistan Virtual Asset Regulatory Authority or accept a no-objection certificate for limited accounts. The rules require customer funds to be held separately in non-interest rupee accounts and strengthen anti-money laundering and counter-terrorism financing obligations.
Crypto
U.S. Treasury pushes transaction monitoring duties for stablecoin issuers, mandates blocking and freezing
The U.S. Treasury is preparing implementing rules that would effectively make anti-money laundering, counter-terrorist financing and sanctions compliance systems mandatory for payment stablecoin issuers, requiring them to be able to block, freeze or reject certain transactions. A joint proposal by FinCEN and OFAC was issued to implement the Genius Act, signed by President Donald Trump in July 2025. Separately, the FFDIC proposed rules on deposit insurance treatment. Debate over the Clarity Act is delayed in Congress.
Crypto
Russian central bank considers allowing banks, brokers to run crypto exchanges
Russia\'s central bank is considering a plan that would allow banks and securities firms to operate cryptocurrency exchanges using their existing financial licences, The Block reported on March 6. Under the proposal, firms would receive approval through a notification procedure rather than obtaining a separate new licence. Central Bank Governor Elvira Nabiullina cited existing anti-money laundering and counter-terrorist financing infrastructure. She also proposed limiting banks\' risk to 1 percent of capital.