News Roundup — UK Formally Recognises Crypto as Property Under New Digital Assets Act

Major news stories this week:

1. UK Formally Recognises Crypto as Property Under New Digital Assets Act
2. IMF lays out guidelines for addressing stablecoin risks, beyond regulations
3. BNP, ING and others launch consortium to develop Euro-pegged stablecoin
4. Ethereum Fusaka Upgrade Goes Live With a Major Leap in Network Scaling
5. Australia now requires licenses for exchanges, custody platforms

Story Summaries;

1. UK formally recognises crypto as property
   The UK has enacted the Digital Assets Act, which grants legal recognition to cryptocurrencies as a form of property. This legislative change enhances legal clarity for ownership, fraud cases, and inheritance, setting a new benchmark for global digital asset regulation.
2. IMF urges global coordination on stablecoin risks
   The International Monetary Fund emphasized that while regulation is essential, it’s not enough to manage stablecoin risks. It called for stronger macroeconomic frameworks and cross-border cooperation to avoid regulatory loopholes and financial instability tied to tokens like USDT and USDC.
3. Major European banks join forces on euro-pegged stablecoin
   Ten major European banks have formed Qivalis, a consortium developing a euro-backed stablecoin. Targeted for launch in 2026, the token aims to deliver fast, low-cost settlement for crypto and financial services, marking a significant move by traditional banks into stablecoin infrastructure.
4. Ethereum rolls out Fusaka upgrade for better scalability
   Ethereum's latest upgrade, Fusaka, introduces PeerDAS — a system that allows validators to verify smaller chunks of data instead of full blobs. This change enhances efficiency, reduces costs, and strengthens Ethereum’s capacity to scale as demand grows.
5. Australia introduces licensing for digital asset platforms
   New legislation in Australia will require exchanges and custody providers to obtain an Australian Financial Services License. This move aligns digital asset firms with traditional financial standards, while exempting small-scale operators and non-custodial staking providers.

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And that’s all for last week’s news! Wishing you a great week ahead!

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