Australia Mandates Financial Licenses For Crypto Platforms

The Australian Parliament passed the Corporations Amendment (Digital Assets Framework) Bill 2025 to regulate digital asset and tokenized custody platforms. This legislative milestone effectively mandates that all domestic crypto service providers obtain an Australian Financial Services Licence.

The Senate cleared this specific regulatory framework on Wednesday, 1 April 2026, marking a definitive shift for the nation's digital economy. These proceedings occurred 12 months before the scheduled commencement date to allow for an orderly industry transition.

Treasury officials initiated this licensing regime because they seek to integrate digital assets into the broader financial market infrastructure. By imposing these standards, the government intends to ensure that platforms act efficiently, honestly, and fairly toward consumers.

Service providers will achieve compliance by implementing rigorous governance controls and providing clear disclosures regarding the storage of customer funds. Consequently, the industry now shifts its focus toward developing a comprehensive stablecoin framework and resolving debanking issues.

Strategy Maintains Preferred Stock Dividend At 11.5%

The major Bitcoin holder Strategy opted to maintain its monthly dividend rate for the Stretch preferred stock. This decision keeps the payout at 11.5% as the volume-weighted average price stabilized near the $100 par value recently. Management utilized this yield strategy to support trading stability and limit volatility for investors seeking high-yield savings alternatives.

The firm reportedly purchased over 1,000 BTC as its STRC shares recovered following the latest ex-dividend date. Competitive firms like Strive have also seen their own preferred products reach par value to fund additional cryptocurrency acquisitions. Analysts expect these shares to continue trading near par value leading up to the next formal distribution scheduled for mid-April.

Magic Eden Wallet Users Must Move Solana Assets

The NFT marketplace Magic Eden announced it is officially winding down its multi-chain crypto wallet operations. Users need to export their private keys immediately to avoid losing access to their funds as the app leaves stores. This strategic shift follows a decision to prioritize a new crypto casino and sportsbook over traditional digital collectible platforms.

The wallet application will remain in a deprecated export-only mode until the formal shutdown occurs on May 1. Those who fail to secure their seed phrases before the deadline risk a permanent loss of their cryptocurrency holdings. This move comes as the platform’s native ME token has plummeted over 99.9% from its previous all-time high price.

Paradigm Developing New Prediction Market Trading Terminal

The venture capital firm Paradigm is reportedly building a specialized trading terminal for the rapidly growing prediction market sector. Partner Arjun Balaji is leading the initiative to create a custom interface that potentially aggregates opportunities across multiple competing platforms. This project aims to capture what the firm's founder describes as a trillion-dollar opportunity in the global economy.

The firm is also considering the establishment of an internal market-making desk to provide liquidity for various prediction indices. Paradigm has historically backed Kalshi, which recently reached a massive $22 billion valuation after its latest successful capital raise. Competitive pressure is mounting as major companies like Coinbase and DraftKings also launch their own unique event-based wagering products.

Data of the Day

United States spot Bitcoin ETFs concluded the first quarter of 2026 with roughly $500 million in net outflows. While March delivered $1.32 billion in fresh capital, these gains were insufficient to offset heavy redemptions recorded in January and February. This specific decline in assets occurred as the price of Bitcoin fell by more than 22% during the period.

Market sentiment remained in a state of extreme fear due to rising geopolitical tensions throughout the Middle East region. Total assets under management for these investment products stood at approximately $87.5 billion as trading volumes moderated last month. Conversely, Solana funds continued to gain momentum by recording consecutive inflows totaling $213 million since their initial launch.

More Breaking News

• Hong Kong regulators missed their March deadline for issuing the first stablecoin licenses, reportedly requiring applicants to further refine their redemption mechanisms.
• The DOJ charged 10 foreign nationals for operating crypto wash-trading schemes, following the extradition of key executives from Singapore to Oakland court.
• CoinShares debuted on the Nasdaq following a $1.2 billion SPAC merger, positioning the crypto asset manager for broader US institutional investor access.
• Galaxy Digital contained a minor hack within an isolated development workspace, confirming that no client funds or production systems were ever compromised.
• Tether executive Jesse Spiro was named chairman of The Fellowship PAC, a $100 million group supporting pro-crypto candidates in US midterm elections.
• The US Treasury proposed new GENIUS Act rules to determine if state-level stablecoin oversight is substantially similar to the federal regulatory framework.
• The Uniswap Foundation reported an $85.8 million treasury, projecting a sufficient funding runway through January 2027 to support ongoing decentralized ecosystem growth.

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