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From the Bank of Korea’s comment on stablecoin issuance to EVE Frontier’s fee trial season, here is a roundup of the top crypto stories you may have missed.
Bank of Korea: Stablecoin Issuance Should Start With Banks
Stablecoin issuance begins with regulated banks to establish a safety net and reduce financial risks before expanding access to non-banking sectors. This was what the Bank of Korea (BOK) urged during a meeting with commercial bank leaders in the country.
Deputy Governor Ryoo Sang-dai emphasized that banks, due to their stricter oversight, are better positioned to issue stablecoins responsibly as South Korea rolls out crypto-friendly reforms under President Lee Jae-myung’s administration. This cautious rollout comes amid a surge in digital asset trading and growing concerns over capital outflows.
According to the South Korean central bank, stablecoin transfers abroad hit $19.5 billion in Q1 2025, raising alarms about the impact on monetary sovereignty. The BOK is also exploring a hybrid model where its deposit tokens would coexist with private-sector stablecoins on public blockchains.
While President Lee supports allowing local firms to issue won-backed stablecoins under new legislation, officials warn that unchecked expansion could destabilize the market and disrupt foreign exchange policy.
Hong Kong Unveils Policy 2.0 on Digital Asset Development
Outlining a new strategy to scale innovation, regulation, and adoption in the sector, Hong Kong released Policy Statement 2.0 on Digital Asset Development.
Issued on June 26, 2025, the roadmap introduced the “LEAP” framework, which focuses on legal streamlining, expanding tokenized products, advancing use cases, and fostering people and partnerships.
Technically, the Hong Kong government aims to establish a unified regulatory regime covering exchanges, stablecoin issuers, dealers, and custodians, with the Securities and Futures Commission leading the licensing efforts.
Key initiatives include legal reviews to enable tokenized financial instruments, expansion of tokenized government bonds and ETFs, and the launch of a stablecoin licensing regime by August 1, 2025.
The government also plans to test stablecoin applications in daily financial services while encouraging public-private collaborations to build digital asset infrastructure.
Efforts to develop talent and research capabilities are also central, with joint programs between academia and industry to position Hong Kong as a digital asset innovation hub.
Judge Rejects SEC and Ripple’s $50M Settlement in XRP Lawsuit
A U.S. federal judge rejected a joint request by the Securities and Exchange Commission (SEC) and Ripple Labs to approve a $50 million reduced fine and vacate a permanent injunction in their long-running legal battle over $XRP token sales.
Judge Analisa Torres ruled that both parties lacked the authority to dismiss a final judgment, emphasizing that the injunction remains valid due to Ripple’s previous violation of securities laws in sales to institutional investors. The judge stated that the request did not demonstrate “exceptional circumstances” that would justify altering her previous ruling.
The lawsuit, which began in 2020, is one of the SEC’s most prominent cases in the crypto space. While the court had previously ruled that $XRP sold to retail investors was not a security, it found Ripple’s $728 million in institutional sales violated securities laws.
With the judge’s latest decision, the case remains open, and unresolved issues, including appeals and penalties, must still be addressed in court.
Norway Considers a Temporary Ban on Crypto Mining
The Norwegian government is considering a temporary ban on cryptocurrency mining to address concerns over energy supply and infrastructure capacity.
Officials announced that an investigation set for autumn 2025 will assess the energy usage of crypto mining data centers, with the potential to impose restrictions under the country’s Planning and Building Act. This move comes as Norway grapples with rising electricity costs and public complaints about the environmental impact and noise from mining operations.
If enacted, Norway would join other countries like Russia and China in restricting crypto mining due to energy and environmental concerns. Russia has already implemented regional bans, while China enforced a nationwide ban in 2021, pushing miners to relocate to countries like the U.S.
World App Unveils Private Age Check
Blockchain project popular for its iris-scanning verification process World introduced a zero-knowledge proof (ZKP)-based age verification system through its World App, offering a “privacy-first solution” that allows users to prove they meet age requirements without revealing personal information.
The system uses passport data via NFC to generate a digital credential stored securely on the user’s device, never uploaded to the cloud, thanks to the app’s “Personal Custody” feature, the developers explained.
When age verification is needed, a ZKP confirms eligibility by providing a binary yes or no answer, keeping the user’s identity and details completely private.
This double-blind model ensures both the verifying party and the service provider know only what’s necessary, according to the blockchain project.
Kraken Launches Global Money App ‘Krak’
Cryptocurrency exchange Kraken launched Krak, a new global money app that enables users to send funds across 110 countries with over 300 supported assets, including crypto, stablecoins, and fiat, without requiring bank details or wallet addresses.
The app is designed to replace outdated financial systems by integrating crypto infrastructure with Kraken’s existing banking and payment network. It offers near-instant transactions at minimal cost, aiming to modernize global peer-to-peer money transfers.
In addition to seamless transfers, Krak also introduces dedicated spend and earn accounts. Users can earn up to 4.1% on $USDG, a dollar-pegged stablecoin under the Global Dollar Network, and up to 10% on over 20 other digital assets.
EVE Frontier Offers Free Trial Access
CCP Games launched a 10-day free trial for EVE Frontier, its upcoming space survival MMO, running from June 27 to July 7, 2025.
Players who sign up for “Remnant Access” can explore the game’s vast, player-driven galaxy by registering at evefrontier.com/register and downloading the game for PC or Mac.
Set in a mysterious and hostile universe, EVE Frontier challenges players to build shelters, form “Tribes,” and harvest resources while navigating survival threats.
During the current game cycle, titled “Promised Lands,” players can earn in-game currency called “Grace” through missions, tribe activities, and combat.
Rankings are determined by total Grace earned, with both individual and Tribe Leaderboards tracking progress. Players who wish to retain their earned Grace after the trial can do so by acquiring Founder Access.
This article is published on BitPinas: Crypto News You May Have Missed This Week | June 28, 2025
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