Coinbase Emerges as Global Leader in Crypto Derivatives After Major Acquisition

South Korea's government and ruling party have reportedly agreed to cap major shareholders in cryptocurrency exchanges at 20%, with narrow exceptions for newly established platforms. The move is pitched as a way to limit concentration of control and reduce systemic risk.

Morgan Stanley has named Coinbase and BNY Mellon to custody and administer its proposed Bitcoin Trust; BNY Mellon will act as administrator, transfer agent and cash custodian. The move pairs a major bank with a leading crypto custodian as Morgan Stanley advances a spot-Bitcoin offering for clients.

Russian authorities are considering legalizing payments with fiat‑pegged stablecoins while moving to prohibit traditional cryptocurrencies for payment use. Stablecoin transactions could be governed by a dedicated legal framework to follow broader crypto legislation.

Morgan Stanley says the U.S. equity rally should withstand rising Iran tensions so long as crude stays stable, a view that could matter for crypto if risk-on flows persist. A sharp, sustained oil spike remains the main threat to markets.

Rising tensions in Iran pushed global investors into cash, compressing demand for gold, bonds and stocks while volatility spiked. Cryptocurrencies including DASH saw muted flows as traders prioritized liquidity.