Launchy Regulatory Roundup #59 - Trump’s CZ Pardon Tied to Binance Lobbying Push

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Welcome to our 59th edition of the regulatory roundup. If you know anybody who would benefit from this content, please help us spread the word!

In Today's Edition:

• Headline: Trump’s CZ Pardon Tied to Binance Lobbying Push 👀 

• Global Legal Roundup

• Case Study: Asian Exchanges Push Back Against Crypto Treasury Listings 🔎 

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HEADLINE

Trump’s CZ Pardon Tied to Binance Lobbying Push

State of play: Former Binance CEO Changpeng “CZ” Zhao’s pardon by President Donald Trump followed an aggressive lobbying effort in Washington, Politico reported.

• Binance spent $450,000 hiring Trump ally Ches McDowell’s Checkmate Government Relations to lobby for “executive relief.”

• Binance also spent another $290,000 on former SEC chair contender Teresa Goody Guillén.

• Binance’s total lobbying spending under Trump has reached $860K this year, alongside new ties to Trump-linked ventures such as World Liberty Financial.

• The move has drawn sharp criticism from Rep. Maxine Waters, who called it “a massive favor for crypto criminals.”

What’s Next: Binance will likely continue investing heavily in lobbying to shape upcoming crypto policies in its favor.

Why it Matters: The pardon shows how political power can outweigh accountability. It raises questions about whether justice in crypto is becoming negotiable for those with enough influence and resources.

Our Take: The mix of money, politics, and regulation now defines crypto’s power structure, and Binance’s victory could set a dangerous example for the industry’s future.

GLOBAL LEGAL ROUNDUP

America:

• 🇺🇲 Tensions rise on digital assets bill.

• 🇺🇲 Trump taps Michael Selig to lead CFTC.

• 🇺🇲 California just drew the line between crypto and cash.

• 🇺🇲 Trump defends pardon of Binance founder Changpeng Zhao.

• 🇺🇲 Bitcoin, Solana lead the way with over 150 crypto ETF filings.

• 🇺🇲 SEC, CFTC target end-of-year milestones for crypto oversight.

• 🇺🇲 Coinbase, Ripple donating to Trump's new White House ballroom.

• 🇺🇲 Crypto & fintech groups urge Trump to defend open banking rule.

• 🇺🇲 Sen. Warren slams GENIUS and address Trump conflict of interest.

• 🇺🇲 Rep. Maxine Waters condemns Trump's pardon of Changpeng Zhao.

• 🇨🇦 Cryptomus exchangehit with record 177M CAD fine.

Europe:

• 🇬🇧 UK has ceded crypto hub ground to US.

• 🇬🇧 FCA sues Justin Sun-linked HTX in London High Court.

• 🇬🇧 Hundreds of crypto exchanges hit with FCA warnings.

• 🇪🇺 EU sanctions Russian A7A5 stablecoin and crypto exchanges.

APAC:

• 🇹🇭 Thai regulators raid alleged World iris scanning site.

• 🇯🇵 Japan mulls allowing local banks to buy and sell crypto.

• 🇰🇬 Kyrgyzstan to launch stablecoin on BNB, plans CBDC in partnership.

• 🇨🇳 Beijing moves to stop Chinese tech giants from issuing stablecoins in HK.

CASE STUDY

Asian Exchanges Push Back Against Crypto Treasury Listings

State of play: Stock exchanges in Hong Kong, India, and Australia are tightening restrictions on companies trying to become digital asset treasuries, raising concerns about “cash companies” that hold mostly crypto instead of running real businesses.

• HK’s exchange reportedly rejected at least five DAT applicants, while India’s Bombay Stock Exchange blocked one firm after it revealed plans to invest proceeds in crypto.

• Australia’s ASX has similar rules preventing listed firms from holding over 50% of assets in digital or cash-like forms, effectively closing the door on DAT models.

• In contrast, Japan remains an exception, hosting 14 listed Bitcoin treasuries, including Metaplanet, one of the world’s largest.

• However, MSCI’s proposal to exclude companies with more than 50% crypto exposure from its indexes could cut off a major funding channel for these firms.

After a year of explosive growth, DAT shares have fallen sharply as markets cool, leading analysts at 10x Research to declare that “the age of financial magic is ending for Bitcoin treasury companies.”

Our Take: Regulators want real companies, not shells sitting on crypto. Japan may stay friendly for now, but pressure from index providers could close that gap too. Future DATs will need actual business models, not just Bitcoin on the books.

Take a peek at our referral reward at the bottom of this issue. Share this newsletter and receive our comprehensive database of crypto regulations around the world👇

NOTEWORTHY READS & MEME

• Greg Xethalis’s read on Who’s Mike Selig.

• Nic Carter’s read on Bitcoin and the Quantum Problem.

• Rebecca Rettig’s read on DeFi Must Be Permissionless.

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Disclaimer: All the information presented in this publication and its affiliates is strictly for educational purposes only. It should not be construed or taken as financial, legal, investment, or any other form of advice.