News Roundup — Hong Kong To Criminalize Unlicensed Stablecoin Promotions From Aug. 1

Major news stories this week;

1. Hong Kong To Criminalize Unlicensed Stablecoin Promotions From Aug. 1
2. Satoshi-Era Bitcoin Investor Cashes Out 80,000 BTC for $9B via Galaxy Digital
3. Vietnam Deploys National Blockchain for Identity and Records
4. Anchorage Digital To Issue First GENIUS‑Compliant Stablecoin in US With Ethena Labs
5. Tether Freezes $1.6M USDT Linked to Terrorism Financing‍
   

Story Summaries;

1. Starting August 1, Hong Kong will enforce a new law making it a criminal offense to offer or promote unlicensed fiat-referenced stablecoins to retail investors. Violators face fines up to 50,000 HKD (about $6,300) and up to six months in jail. The Hong Kong Monetary Authority says the rule aims to curb speculative hype and protect consumers, with only a few licenses expected to be granted due to concerns over applicants’ lack of readiness and risk management capabilities. This move positions Hong Kong among the strictest jurisdictions in regulating stablecoin activity.
2. An early Bitcoin investor sold 80,000 BTC, worth around $9 billion, through Galaxy Digital in one of the largest crypto transactions to date, as part of a broader real estate planning strategy. Despite the size, the market absorbed the sale with minimal price impact, highlighting strong liquidity and continued bullish momentum as Bitcoin trades above $117,000 amid rising institutional interest.
3. Vietnam has launched NDAChain, a national blockchain platform to support digital identity, record verification, and secure transactions across sectors like government, finance, and healthcare. Developed by the National Data Association and run by the Ministry of Public Security, it uses a hybrid, permissioned architecture with 49 validator nodes. The platform also powers a decentralized identity solution for digital contract signing and fast identity verification, aiming to improve cybersecurity and prevent fraud as part of the country’s digital economy strategy.
4. Anchorage Digital Bank will begin minting Ethena Labs’ USDtb stablecoin in the U.S., making it the first GENIUS Act-compliant stablecoin issued under federal oversight. Backed by crypto assets and BlackRock’s BUIDL fund, USDtb is a yield-bearing alternative to traditional fee-free stablecoins like USDT and USDC. This move brings USDtb onshore after circulating offshore since December and marks a significant milestone following the recent passage of the GENIUS Act, signaling growing institutional adoption of regulated, programmable digital dollars.
5. Tether has been recognized by U.S. authorities for freezing $1.6 million in USDT tied to wallets linked to BuyCash, a Gaza-based terrorist financing network. This action supports a wider U.S. DOJ case involving $2 million in digital assets used to fund designated terrorist groups. Over the past year, Tether has blocked more than $2.9 billion in USDT connected to illicit activities and worked with over 275 law enforcement agencies worldwide to combat financial crime.
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And that’s all for last week’s news! Wishing you a great week ahead!