Wu's Daily Selected Crypto News - Binance Launches the First Round of Delisting Voting Today

1. Binance Launches First Batch of Delisting Voting Today

Binance will initiate its first batch of delisting voting. The first voting period will last from March 21, 2025, 06:30 (UTC) to March 27, 2025, 23:59 (UTC), spanning seven days (voting period). Users must log into their verified Binance accounts and hold at least 10 million $BNB in their trading accounts throughout the voting period for their votes to be valid. During the voting period, each user can vote for up to 5 projects in the delisting voting pool, with each verified account allowed only one vote per project. The voting results are not the sole determining factor for the final delisting decision; the ultimate decision will depend on the official review process. This voting is

2. Trump: Calls on Congress to Pass Stablecoin Legislation

According to reporter Eleanor Terrett, U.S. President $Trump stated at a digital asset summit that he will make the U.S. the "undisputed Bitcoin superpower and the world’s cryptocurrency capital." $Trump also urged Congress to pass landmark legislation to establish simple, commonsense rules for stablecoins and market structure.

3. Scholar: China Needs to Promote Stablecoin Development

The deputy director of the Financial Research Institute of the Chinese Academy of Social Sciences and deputy director of the National Financial and Development Laboratory stated in an article for the "Study Times," affiliated with the Central Party School, that Bitcoin is not a true currency but a uniquely styled financial asset that holds investment value. The real potential to significantly impact the international financial system lies with stablecoins. If the U.S. dollar stablecoin establishes a closer connection between the dollar's international credit and the application scenarios in the virtual world, it could greatly reinforce the dollar's supremacy. China needs to promote the development of stablecoins and expand the use of digital tokens on internet platforms. If designed and controlled for risks appropriately, expanding the use of these digital tokens could significantly elevate the international status of the renminbi, thus better equipping it to face the challenges posed by dollar stablecoins.

4. South Korean Financial Authorities Launch Sanctions Against Unreported Overseas Crypto Exchanges

The South Korean Financial Intelligence Unit (FIU) has initiated sanctions against overseas cryptocurrency exchanges illegally operating in Korea without reporting. It is considering collaborating with the Communication Review Commission to block access to relevant websites. Exchanges on the sanctions list include BitMEX, KuCoin, CoinW, Bitunix, and KCEX. These exchanges have not completed the Virtual Asset Service Provider (VASP) reporting as required by the Special Financial Transaction Information Act but have provided Korean language services and marketing to South Korean users, which is suspected of illegal operations. The FIU stated it aims to implement substantial countermeasures within the year.

5. SEC: Some PoW Mining Activities Do Not Constitute Securities Issuance

The U.S. Securities and Exchange Commission (SEC) issued a statement clarifying that mining activities and mining pools under the Proof of Work (PoW) mechanism do not involve securities issuance and therefore do not need to comply with the registration requirements set forth by the Securities Act and the Exchange Act. The statement noted that miners engaged in Protocol Mining on PoW networks only invest computational resources to verify transactions and maintain network security. The rewards earned by miners come from executing network protocol rules and do not rely on the entrepreneurial or managerial efforts of others, thus failing to meet the Howey Test definition of an investment contract.