In this edition, we’ve noticed some significant shifts in global crypto markets and regulations. The US government’s decision to pause enforcement of the Foreign Corrupt Practices Act could reshape anti-corruption efforts, creating a ripple effect for businesses operating internationally.
Meanwhile, Polymarket’s record-breaking $1.1B in Super Bowl crypto bets underscores the growing convergence of decentralized finance and traditional markets, bringing both opportunity and potential regulatory challenges.
As European regulations continue to evolve, Czechia’s alignment with the MiCA framework is a step in the right direction, providing clarity for crypto businesses.
Lastly, Metaplanet’s massive 4,000% share price surge through Bitcoin hoarding shows how companies are turning to crypto assets in the face of volatility, and could signal the beginning of a broader trend among businesses looking to hedge against traditional market risks.
To find out more about these stories, read on.
US suspends foreign bribery Act, sparks controversy
On February 10, 2025, US President Donald Trump signed an Executive Order that directed the US Department of Justice to stop enforcing the 1977 Foreign Corrupt Practices Act (FCPA). The act was put in place to stop American companies from bribing foreign officials to acquire lucrative business contracts.
Attorney General, Pam Bondi, is to review the current FCPA investigation and enforcement guidelines over the next 180 days and stop initiating any new investigations. The President contends that current FCPA practices adversely impact American economic competitiveness abroad and compromises national security.
According to the order, “overexpansive and unpredictable FCPA enforcement against American citizens and businesses — by [their] own Government — for routine business practices in other nations not only wastes limited prosecutorial resources that could be dedicated to preserving American freedoms, but actively harms American economic competitiveness and, therefore, national security.”
The order drew criticism from Transparency International, an anti-corruption organization that claims it undermines the US’s leadership in combating global corruption. The US chapter’s executive director, Gary Kalman, said it “diminishes—and could pave the way for completely eliminating—the crown jewel in the US’s fight against global corruption.”
FCPA investigations and enforcement actions in the past have carried significant weight, including the hefty fine imposed on Goldman Sachs for its involvement in the Malaysian sovereign wealth fund scandal in 2020. The shift in US anti-corruption policy was further emphasized when President Trump used the occasion of issuing the order to also pardon former Illinois Governor Rod Blagojevich, who was convicted of political corruption in 2011.
Crystal’s CEO Navin Gupta commented on this development, saying “The US and developed countries raise the bar on ethics, and this Executive Order degrades that requirement.
“The US administration should instead focus on why the FCPA is a bureaucratic burden, not eliminate the Act altogether. This becomes a role model for other countries to do the same and creates incentives for countries to ask for a bribe without fear of the law. Corruption is something we all want to see eliminated, and this order will put US companies into more difficult situations – not less – as now the recipients will be expecting their palms to be greased.”
Find out more about this story at The Guardian.
Polymarket hits $1.1B in Super Bowl crypto bets
Polymarket, a decentralized crypto prediction platform, has reported a significant surge in user engagement, with over $1.1 billion bet on the 2025 Super Bowl, the 59th edition of the American Football showpiece.
The Detroit Lions led the betting odds with a 25% chance of victory, attracting $11 million in bets, followed by the Kansas City Chiefs at 22% with $9.7 million. On the day, the Eagles triumphed 40-22 over the Chiefs, resulting in some healthy payouts and some heavy losses, with one bettor making over $1M, while another lost $720K.
While critics say that Polymarket works as a gambling site, crypto attorney Aaron Brogan argues that the platform makes money from transaction fees, not bettor losses like traditional gambling outlets. Although Polymarket has fallen foul of regulatory scrutiny in the past, it still grows from strength to strength.
For example, in July 2024, the platform’s total betting volume surpassed $1 billion, with $343 million processed during that month. This was mostly due to heightened interest in the US presidential election, when over $429 million was bet on the result.
Polymarket also partnered with MoonPay in July 2024, enabling users to fund their accounts with multiple payment methods, including PayPal, Apple Pay, Google Pay, debit and credit cards, and bank transfers.
Banks and exchanges should take a proactive approach in monitoring transactions linked to emerging platforms to mitigate potential regulatory penalties, protect their reputations, and reduce the risk of financial crime. This is especially important considering the possibility that regulators may classify certain platforms as unlicensed gambling entities.
Find out more about this story at The Crypto Times.
Czechia adopts crypto law to align with EU MiCA rules
On February 7, 2025, Czech President Petr Pavel enacted a new cryptocurrency law that aligns the country’s regulatory framework with the European Union’s Markets in Crypto-Assets (MiCA) regulation.
The move is intended to encourage innovation and development within the cryptocurrency industry with clear guidelines and simplified tax laws for crypto transactions. It followed the unanimously approved MiCA – Government Bill on the Digitization of the EU Financial Market of December 6, 2024.
The Czech Cryptocurrency Association (CKMA) was pivotal in shaping this law, which also establishes a framework for cryptocurrency companies to access banking services after being successfully licensed. CKMA Chair František Vinopal noted that legislative support for the proposals, which were once considered unthinkable, was unanimous, emphasizing the law’s provision of long-term stability for entrepreneurs in the sector and the taxation of cryptocurrency transactions.
Meanwhile, the Czech National Bank has indicated its willingness to include Bitcoin in its foreign reserves, due to its lack of correlation with bonds and potential as a risk-mitigating diversifying asset.
We are pleased to hear of this development. With it, Czechia strengthens regulatory certainty, supports the integration of digital assets into the financial system, and provides a secure foundation for banks and exchanges to engage with the crypto industry.
Find out more about this story at Investing.com.
In Japan, Metaplanet bets big on Bitcoin and eyes major growth by 2026
The ripples of US President Trump’s pro-crypto policies have invigorated Japan’s demand for Bitcoin. One hotel company, Metaplanet, which has geared itself to stockpiling Bitcoin – a practice known as Bitcoin hoarding, has seen its share value increase by 4,000% over the last 12 months.
Metaplanet shifted its focus to Bitcoin hoarding in 2024, after the economic impact of global Covid-induced lockdowns forced it to close most of its hotels.
The company is now estimated to hold 1,762 BTC, worth about $171M, and hopes to grow this stockpile to 21,000 BTC by 2026. Meanwhile, its number of shareholders increased 500% in 2024 to almost 50,000.
While critics cite market volatility as an investment risk, Metaplanet hopes to post its first profit in six years by the fourth economic quarter. Additionally, the company is rebranding its last remaining Tokyo hotel as “The Bitcoin Hotel,” targeting crypto-related events.
Japan, meanwhile, has a progressive approach to the crypto industry. It was one of the first countries in the world to acknowledge Bitcoin as legal tender in 2017. Although it takes a supportive stance, it also enforces strict regulations to prevent illicit activities and protect consumers.
Find out more about this story at The Straits Times.
