web3news

⚖️ Freedom After a $65M Exploit? Serbia Refuses to Extradite Indexed Finance Hacker
The high-profile case of Andean Medjedovic, a 22-year-old Canadian coder accused of draining $65 million from KyberSwap and Indexed Finance, has taken an unexpected turn. After 105 days in a Serbian jail, the suspect has been released.
The Background
Medjedovic was arrested in Belgrade in August 2024 following an Interpol red notice. Dutch authorities sought his extradition, claiming he orchestrated the attacks from a hotel in The Hague while using a fake Slovakian passport under the alias "Luka Krajovic."
Why was he released?
The High Court in Belgrade delivered a ruling that has sparked intense debate in the crypto legal space:
Lack of Direct Evidence: The court ruled that linking a hotel IP address to the exploit was insufficient proof of Medjedovic's personal involvement.Legal Technicalities: According to the ruling, the nature of the alleged crime does not meet the specific criteria for mandatory extradition and detention under Serbian law.The "Privacy" Defense: Medjedovic denied all charges, claiming his use of multiple fake IDs was purely to "maintain privacy" while trading crypto and to avoid being targeted by scammers.
Damning Evidence?
During the search, authorities found detailed notes on hacking schemes, step-by-step guides on laundering crypto through mixers, and plans to acquire even more fake identities (including Russian, Brazilian, and U.S. passports). Despite these findings, the Serbian court maintained its decision.
What does this mean for the industry?
This case highlights the immense difficulty of cross-border DeFi investigations. Even when a suspect is identified and detained, jurisdictional differences can prevent prosecution.
For the crypto community, it’s a stark reminder: DeFi security relies on code and protocol audits. Recovering funds through the legal system remains a massive challenge, even when a suspect is caught.
Is this a win for legal due process or a dangerous loophole for cybercriminals? Share your thoughts below! 👇
#KyberSwap #IndexedFinance #CryptoSecurity #DeFi #Web3News

​The United Kingdom is making a decisive move toward solidifying its position as a global crypto hub. The House of Lords Financial Services Regulation Committee has officially launched an inquiry into the growth and proposed regulation of stablecoins.
​This isn't just another dry regulatory update—it is a critical "call for evidence" that will shape how stablecoins like $USDT , $USDC , and future Sterling-backed tokens operate within the UK’s borders.
​🔍 The Core of the Inquiry: 6 Key Questions
​The Committee is seeking public and industry input on six pivotal areas to determine if the proposed rules by the Financial Conduct Authority (FCA) and the Bank of England are actually "fit for purpose." The investigation focuses on:
​Global Comparison: How the UK market stacks up against the US and EU.
​Growth Trajectory: How Sterling-denominated stablecoins will develop and who will use them.
​Economic Impact: The risks and opportunities for the UK economy and retail customers.
​Statutory Objectives: Whether stablecoins threaten price stability or financial integrity.
​The "Systemic" Hurdle: Examining the challenges of the proposed "step-up" regime for major issuers.
​Global Lessons: What the UK can learn from international regulatory frameworks.
​🗓️ Important Deadlines
​If you are an investor, developer, or industry stakeholder, the clock is ticking:
​March 11, 2026: The final deadline for submitting written evidence.
​September 2026: The FCA’s "Crypto Gateway" is expected to open for firm applications.
​October 2027: The full regulatory regime is slated to go live.
​💡 Why This Matters for Binance Users
​The UK's approach is unique because it separates "systemic" stablecoins (regulated by the Bank of England) from "non-systemic" ones (regulated by the FCA).
​For the average trader, this could mean increased protections, clearer redemption rights to fiat, and more Sterling-backed options on exchanges. However, critics—including major firms like Consensys—have warned that if the rules are too rigid, the UK risks losing its competitive edge to more flexible jurisdictions like the US.
​"The inquiry will examine the extent to which stablecoins might disrupt traditional banking... and whether the proposed frameworks provide a proportionate response." — House of Lords Committee
​🚀 Join the Conversation
​Do you think the UK’s "phased approach" is better than the US style of regulation, or is it too slow for the fast-paced world of Web3?
​Drop your thoughts in the comments below! 👇
​#Binance #CryptoRegulation #UK #stablecoin #Web3News

The Great Revolution: Why Are Global Banks Preparing to Knock on the Doors of Pioneers? by ARC-314
Fifteen years ago, predicting that the price of Bitcoin would reach $85,000 would have brought you nothing but ridicule from Wall Street. Today, these same institutions are creating Bitcoin exchange-traded funds (ETFs) to avoid disappearing from the market.

Today, January 25, the FCA (British regulator) officially announced the implementation of new rules for crypto companies. This is not just "another piece of paper"; it is a game changer for the entire European market.
Why is this important?
Protection above all: Now, platforms are required to prove that their products do not harm retail investors.

🚨 DappRadar Shuts Down After 7 Years — What It Means for Web3
DappRadar has officially announced its shutdown after 7 years due to financial pressure. The platform will gradually disable all tracking services, leaving millions of Web3 users and projects searching for new analytics tools. The RADAR token has already dropped sharply, with the team promising further instructions on its future
Despite the shutdown, DappRadar’s recent reports highlighted major market shifts: AI dapps are growing fast, RWAs are rising, while DeFi and
{spot}(undefinedUSDT)
NFTs face mixed performance. NFT sales hit record highs this year, but trading volumes remain weak. Security risks also remain high, with billions lost to hacks across Q1.
DappRadar’s collapse is a wake-up call for crypto projects built mainly on token-driven business models — sustainability is the new alpha.
#DappRadar #Web3News #defi #Blockchain #CryptoMarket

Binance to Support Polygon (POL) Network Upgrade & Hard Fork on July 1, 2025
On July 1, 2025, Polygon (POL) is undergoing its scheduled Bhilai Hard Fork, designed to enhance the network’s scalability, throughput, and protocol efficiency. The upgrade is triggered at block height 73,440,256, estimated for approximately 09:10 (UTC) .

What Binance Is Doing 🛠️
To facilitate a smooth upgrade, Binance will temporarily suspend deposits and withdrawals on the Polygon network, starting at 08:10 (UTC) on the upgrade day . This proactive suspension aims to prevent deposit/withdrawal failures and ensure funds are neither lost nor stuck during the fork.

What Users Can Expect
Trading unaffected: Spot trading of POL tokens remains available throughout .
No action required: Binance will automatically handle all technical adjustments—users don’t need to migrate wallets or change network settings .

Service resumption: Deposits and withdrawals will only resume once the upgraded network is confirmed stable. Binance states it will not issue further announcements in this regard .

Upgrade Details & Benefits
The Bhilai Hard Fork updates Bor nodes to v2.1.1, enabling the network to handle approximately 1,000 TPS with sub‑five‑second finality. A subsequent October upgrade aims to further enhance performance to 5,000 TPS and one‑second finality . Core protocol enhancements include adopting PIP‑60, increased gas limits (up to 45 M), and an anticipated transition to a new POL token standard .
Why It Matters
This upgrade marks a critical step toward making Polygon more robust for decentralized finance (DeFi), NFT platforms, and other high-throughput use cases. Binance’s coordination ensures minimal disruption, bolstering user confidence and preserving ecosystem stability.
In summary, Binance’s orchestration during the July 1 hard fork—suspending liquidity functions briefly, maintaining trading, and automating the technical process—reflects best practices in managing network upgrades. Users should reroute any planned deposits ahead of July 1, monitor the network’s health, and expect withdrawal services to resume shortly after the network stabilizes.
BlockchainUpgrade
#CryptoSecurity
#Scalability
#Layer2
#Web3News
#POLUpgrade
$XRP
$BNB
$SOL

May 21, 2025 — In a landmark move, Hong Kong's Legislative Council has officially passed the Stablecoin Regulation Bill, marking a significant step forward in the city’s efforts to establish a secure and transparent virtual asset ecosystem.
A Strategic Response to the Evolving Digital Economy
As stablecoins become increasingly integral to the Web3 landscape and digital finance, Hong Kong has recognized both their potential and the associated risks. These digital tokens, often pegged to traditional fiat currencies, are poised to become mainstream payment tools. However, their rapid growth has raised concerns over financial and monetary stability. The new legislation aims to address these challenges by creating a comprehensive regulatory framework to oversee fiat stablecoin issuers, ensure consumer protection, and encourage sustainable industry growth.
Key Provisions of the Regulation
Under the new law, any entity that issues fiat stablecoins in Hong Kong—or those pegged to the Hong Kong dollar regardless of where they're issued—must obtain a license from the Financial Management Commissioner. The bill mandates stringent compliance measures, including:
Robust reserve asset management and redemption mechanisms.Segregation of client assets to prevent misuse.Ensuring stablecoin holders can redeem their tokens at face value under fair conditions.
Moreover, the government has responded to industry feedback by extending the scope of recognized issuers to include licensed stored-value payment tool providers. These providers must also secure approval from the Commissioner before distributing stablecoins.
Unlicensed stablecoin issuers are restricted to offering their products only to professional investors, and such stablecoins must be clearly labeled as unlicensed.
Implications for Finance and Innovation
For Hong Kong’s Financial Market:
The regulation follows the principle of "same activities, same risks, same regulation," reinforcing a risk-based approach. It aligns with international standards and strengthens the legal infrastructure supporting Hong Kong’s virtual asset sector. This move enhances the city's credibility as a global financial powerhouse and strengthens its position in the race to become a leading digital finance hub.
For the Stablecoin Industry:
By closing regulatory loopholes, the bill offers a clear compliance path for stablecoin issuers, helping to reduce fraud and money laundering risks. It fosters an environment where innovation can thrive responsibly, ensuring long-term industry health and public trust.
On the Global Stage:
With this legislation, Hong Kong becomes the first jurisdiction to fully implement a stablecoin regulatory framework. This pioneering step not only clarifies cross-border rules but also lays the groundwork for international cooperation and regulatory alignment, potentially serving as a blueprint for other countries.
As the digital economy evolves, Hong Kong’s proactive stance may well influence the future direction of global virtual asset regulation.
Here are some trending and relevant hashtags you can use for your post about Hong Kong's new stablecoin regulation:
#StablecoinRegulation #HongKongCrypto #Web3News #CryptoUpdates #BlockchainRegulation