Here’s what happened in crypto today

Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, Web3 and crypto regulation.

Today in crypto, Taiwan’s lawmakers passed the country’s first crypto and stablecoin laws, Strategy’s new Bitcoin capital framework drew Wall Street support even as traders question long-term demand risk and Cathie Wood's ARK Invest capitalized on the crypto market downturn, buying shares in Coinbase, Circle and Bullish.

Taiwan’s lawmakers on Tuesday passed a law to establish the country’s first regulatory framework and licensing regime for crypto and rules for stablecoins, requiring all crypto platforms to get approval from the Financial Supervisory Commission (FSC) to operate.

The law outlines that stablecoins issued in the country must get approval from the central bank and the FSC, and issuers must maintain sufficient reserves with a trustee and undergo regular audits, which the FSC said would help Taiwan integrate with the international market and secure a place in the global crypto market.

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