KEYTAKEAWAYS
- Pakistan launches comprehensive virtual asset regulation framework, while Binance executives meet with US Treasury to discuss relaxing oversight amid potential Trump family business deal.
- SEC members express support for a digital asset regulatory sandbox, as US senators reintroduce the PROOF Act to prevent custodians from mixing customer funds.
- WLFI buys 4.89M SEI tokens as Circle's USDC circulation decreases by 900M, while analyst attributes Bitcoin's weak performance to news saturation and institutional portfolio rebalancing.
CONTENT
Welcome to the CoinRank Crypto News Roundup. CoinRank will provide daily important crypto news in this column series, allowing readers to quickly obtain the latest crucial updates from the cryptocurrency market.
MORNING NEWS
1. Pakistan Launches Virtual Asset Regulatory Framework
According to Tribune, Pakistan has launched its first comprehensive policy framework to regulate virtual assets and virtual asset service providers (VASPs), aimed at curbing money laundering, supporting innovation and attracting foreign investment.
The policy was formulated by a specialized government agency under the Anti-Money Laundering and Counter-Terrorist Financing agencies.
The proposed framework is subject to legislative approval and input from digital asset companies, with expected phased implementation starting in 2026.
2. Binance Executives Meet with US Treasury to Discuss Regulatory Relief
According to the Wall Street Journal, Binance executives met with U.S. Treasury officials last month to discuss relaxing government regulation of the company, while also exploring a business deal with a Trump family cryptocurrency business.
Sources familiar with the matter said Binance executives have asked Washington Treasury officials to replace a U.S. monitor responsible for overseeing the exchange’s compliance with anti-money laundering laws.
This would mark the company’s first step back into the U.S. market since admitting to violating these laws in 2023.
3. SEC Members Support Digital Asset Regulatory Sandbox
According to Decrypt, several SEC members expressed support for a digital asset regulatory sandbox at the second digital asset roundtable, allowing crypto exchanges like Coinbase to freely experiment in new areas, including tokenized securities trading.
“I encourage market participants who are developing new ways to conduct securities transactions using blockchain technology to provide input on which exemptions may be applicable,” said Mark Uyeda, acting SEC chairman, in a pre-recorded statement.
Uyeda specifically noted that a “time-limited, conditional framework for exemption relief” could provide unregistered cryptocurrency exchanges with freedom to innovate before rules are developed.
4. US Senators Reintroduce PROOF Act to Protect Customer Funds
According to Cryptoslate, U.S. Senators Thom Tillis (R-North Carolina) and John Hickenlooper (D-Colorado) have reintroduced the Proof of Others’ Funds Reserve Act (PROOF) to prevent digital asset custodians from mixing customer funds with institutional or proprietary capital.
The bill also requires monthly third-party inspections of custodial reserves and is based on standards already informally used in the digital asset space.
The PROOF Act was originally introduced in 2023 in response to systemic failures exposed by the FTX collapse.
5. Bank of England Warns of Stablecoin Risks to Financial Stability
According to Cryptoslate, the Financial Policy Committee of the Bank of England stated in its April 2025 record that inadequate supervision and inappropriate asset support for stablecoins may pose new risks to UK financial stability, especially in times of stress.
The committee reiterated that the Bank of England and the Financial Conduct Authority are actively developing a regulatory regime for both systemic and non-systemic stablecoins to ensure these tokens can reliably meet redemption requests and maintain parity in turbulent market conditions.
NOON NEWS
1. Taiwan’s Steaker Platform Faces Legal Action for Alleged Illegal Fundraising
According to United Daily News, digital asset management platform Steaker is accused of illegally raising approximately NT$1.48 billion over three years through a virtual currency investment plan.
The Taipei District Prosecutor’s Office has sued Steaker, founder Huang Weixuan, and four others.
Steaker issued a statement denying any illegal acts, stating it has never accepted legal tender or provided exchange services, only offering virtual asset configuration services.
2. Bitget Launches VIP Airdrop Ceremony
Bitget has officially launched the “VIP Airdrop Ceremony” for VIP3 and above users, requiring only registration to unlock regular new coin airdrops.
The first airdrop project is PROMPT, with a total prize pool of 150,000 tokens, running from April 11 to April 18 (UTC+8).
Registered users must maintain VIP3 or above status before the event ends to unlock the current airdrop rewards.
3. Ethereum ETFs See $29.19 Million Net Outflow
According to SoSoValue data, Ethereum spot ETFs saw a total net outflow of $29.1981 million on April 11.
Grayscale’s ETHE had the largest outflow at $26.052 million, bringing its historical total net outflow to $4.226 billion, while Bitwise’s ETHW saw a $3.1461 million outflow.
The total net asset value of Ethereum spot ETFs now stands at $5.239 billion, representing 2.76% of Ethereum’s total market value, with historical cumulative net inflows of $2.276 billion.
4. World Liberty Financial Purchases 4.89 Million SEI Tokens
According to Onchain Lens monitoring, the Trump family’s crypto project World Liberty Financial (WLFI) bought 4.89 million SEI tokens with 775,000 USDC at an average price of $0.158.
WLFI now holds a total of 5,983,278 SEI tokens.
5. USDC Circulation Decreases by 900 Million
According to official data, in the seven days ending April 10, Circle issued about 3.2 billion USDC and redeemed about 4.1 billion USDC, resulting in a circulation decrease of about 900 million.
The total circulation of USDC is now 59.8 billion, backed by reserves of about 60 billion US dollars—approximately 6.7 billion in cash and 53.3 billion in the Circle Reserve Fund.
EVENING NEWS
1. Hong Kong Police Freeze HK$228 Million in JPEX Fraud Case
According to Sing Tao Daily, Hong Kong police have successfully frozen 228 million yuan in the 18-month investigation of virtual asset trading platform JPEX’s suspected fraud.
Hong Kong Police Commissioner Chow Yiu-ming said the case remains under investigation and legal advice from the Department of Justice is being sought, with frozen funds to be distributed only after case conclusion.
The Hong Kong police have established an electronic bank document system to analyze fund flows and developed a one-stop virtual asset analysis tool with local universities to target fraudsters using virtual assets.
2. CME Analyst Explains Bitcoin’s Recent Weak Performance
Jim Iuorio, a senior futures and options trader, wrote on the CME official website that Bitcoin’s recent weak performance has two main reasons:
First, positive news was digested after Bitcoin peaked at $109,000 in mid-January, leading to increased long position liquidations.
Second, many institutional traders include Bitcoin and the Nasdaq in the same portfolio, triggering Bitcoin sell-offs when the Nasdaq falls sharply to meet margin requirements.
The correlation between gold and Bitcoin began showing cracks in 2025, with gold rising 16% while Bitcoin fell 6% by March’s end.
3. Former OpenAI Employees Support Musk’s Lawsuit
According to Fortune, a dozen former OpenAI employees filed a legal brief supporting Elon Musk’s lawsuit aimed at maintaining the company’s non-profit status.
These former technical and leadership employees argue that depriving the non-profit of control would be “fundamentally contrary” to the company’s mission of developing AI for humanity rather than corporate profits.
They state that non-profit oversight is critical to the company’s strategy and helps with recruitment, as many employees joined motivated by the non-profit mission.
4. Key Economic Events for the Coming Week
“Shorting the United States” has almost become a global consensus in the past week, with US assets sold off amid the crisis of confidence triggered by Trump’s policies.
Next week’s key events include:
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Tuesday: Speeches from Fed officials Barkin, Harker, and Bostic
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Wednesday: China’s Q1 GDP and US retail sales data (expected to rise 1.4% month-on-month)
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Thursday: US initial jobless claims, Fed Chair Powell speech, and a fireside chat with Fed officials Schmid and Logan
US retail sales data will be closely watched to see how consumers reacted to Trump’s tariff announcements and subsequent modifications.
5. CZ Claims Wall Street Journal Trying to Discredit Him
Binance co-founder CZ posted on the X platform: “The Wall Street Journal is really trying too hard. They seem to have forgotten who went to jail and who didn’t. People who become government witnesses will not go to jail, but will be protected. I heard that someone paid the Wall Street Journal employees to discredit me.”
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