CoinRank Crypto Digest (8/08)｜Hong Kong Launches RWA Registration Platform, Initiates Three Web3 ...

Trump orders regulators to stop de-banking crypto firms, appoints Miran to Fed Board, boosting industry optimism and increasing political sway over monetary policy.

Hong Kong launches RWA registration platform and Web3 standards to advance regulated tokenization, cross-border stablecoin payments, and institutional digital asset adoption.

SEC and Ripple end appeal; XRP’s retail trades ruled non-securities, institutional sales deemed illegal; $125M fine finalizes landmark crypto legal precedent.

TRUMP SIGNS CRYPTO-FRIENDLY BANKING ORDER, APPOINTS MIRAN TO FED BOARD

U.S. President Donald Trump has signed an executive order prohibiting federal financial regulators from pressuring banks to cut services to cryptocurrency companies on the grounds of “reputational risk.” The move addresses long-standing industry concerns over de-banking practices, which the White House said have harmed law-abiding citizens and businesses while eroding trust in the financial system.

Although the order does not explicitly mention crypto, it targets a key regulatory tactic historically used to restrict crypto firms, effectively aiming to end “Operation Choke Point 2.0.” The measure has received broad Republican support and is seen as a significant step toward restoring financial access for crypto businesses.

On the same day, Trump announced via Truth Social the appointment of White House Council of Economic Advisers Chair Stephen Miran to the Federal Reserve Board, serving until early 2026. Miran, a vocal critic of the Fed’s “groupthink” and political overreach, has proposed shortening board terms and increasing presidential influence. As a temporary appointment not requiring Senate confirmation, the move strengthens the White House’s influence over monetary policy and signals a dual policy focus on central bank reform and crypto industry support.

ANALYSIS

This combination of regulatory rollback and structural reform could significantly reshape U.S. financial oversight. While it boosts short-term optimism in the crypto sector, it also sets the stage for heightened political influence over monetary policy — a shift that may polarize market sentiment and regulatory predictability.

HONG KONG LAUNCHES RWA REGISTRATION PLATFORM, INITIATES THREE WEB3 STANDARDS

On August 7, the Hong Kong Web3 Standardization Association officially launched the “RWA Registration Platform,” providing end-to-end services from asset digitization and tokenization to financialization. The platform will offer a unified framework for the registration, review, and issuance of real-world assets (RWAs) such as real estate and debt, aiming to improve transparency, liquidity, and institutional participation in on-chain asset allocation.

Simultaneously, the association initiated three core Web3 standards: the RWA Tokenization Business Guidelines, the RWA Tokenization Technical Specifications, and the Blockchain-Based Stablecoin Cross-Border Payment Technical Specifications. These standards are designed to support compliant token issuance and cross-border settlements, reinforcing Hong Kong’s ambition to become a global hub for RWA and stablecoin innovation.

ANALYSIS

By combining infrastructure deployment with standard-setting, Hong Kong positions itself as a leader in regulated digital asset markets. However, the platform’s success will depend on cross-jurisdictional recognition, regulatory clarity, and its ability to attract major traditional finance players.

SEC AND RIPPLE END APPEAL DISPUTE, XRP RULING TAKES EFFECT

The U.S. Securities and Exchange Commission (SEC) and Ripple have agreed to withdraw their appeal at the Second Circuit Court, bringing the three-year crypto regulatory case to a close. The withdrawal cements Judge Analisa Torres’ 2023 ruling as final: XRP’s secondary market transactions are not securities, while Ripple’s large-scale sales to institutional investors constituted an illegal securities offering. Ripple will pay a $125 million fine and accept a permanent injunction against similar future violations, with each party covering its own legal costs.

ANALYSIS

This landmark decision provides the first clear judicial recognition that certain crypto assets, when traded on retail secondary markets, are not securities. It offers the industry some regulatory certainty while reinforcing that institutional sales remain under strict securities laws. Ripple’s decision to settle reflects a strategic pivot toward business expansion and product development, free from prolonged litigation. The case sets a key precedent likely to influence both issuers and regulators in shaping the future of U.S. crypto oversight.

〈CoinRank Crypto Digest (8/08)｜Hong Kong Launches RWA Registration Platform, Initiates Three Web3 Standards〉這篇文章最早發佈於《CoinRank》。