Julia Leung has stated that cryptocurrency platforms must be regulated from the perspective of investor protection, as they are part of the Web 3.0 ecosystem.

The South Korean National Assembly is expected to pass its digital asset market regulation bill in April, according to reports. The passage of the bill by the Political Affairs Committee has raised hopes that legislators will finally pass the law after several failed attempts. Rep. Kim Hee-gon suggested that opposition and ruling party members had narrowed their differences. Analysts claimed that the collapse of Terraform Labs highlighted to legislators the importance of having laws governing the digital asset industry. Besides the latest draft bill, South Korean lawmakers are said to have discussed the previous 18 bills relating to virtual assets.

A recent report from CoinShares revealed that the digital asset outflows in the last six weeks have been rising, settling at $424 million. During the last week, net outflows nearly exceeded the $100 million mark as the trend shows little to no signs of slowing down.

The Federal Deposit Insurance Corporation (FDIC) is seeking a buyer for Signet, a digital asset custody platform, and plans to return Signature Bank's crypto deposits next week. The move is part of the FDIC's broader efforts to regulate the cryptocurrency industry and promote greater transparency and security in the market.

Voyager Digital, a popular cryptocurrency broker, has redeemed $150 million worth of USDC stablecoin to fiat currency through Circle, a leading provider of digital asset financial services. The redemption was completed through Circle's USDC issuance and redemption platform, which allows users to convert USDC to fiat currency and vice versa.

U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler will appear before the House's digital assets subcommittee on April 18, 2023, according to House Financial Services Committee Chairman Patrick McHenry. McHenry hopes to discuss Gensler's rulemaking and approach to digital assets and establish a regulatory sphere for digital assets. The oversight hearing seeks to close a structural gap in the House Financial Services Committee in addressing crypto topics. Gensler's approach to regulation has frustrated industry players, including Coinbase, which received a Wells Notice from the SEC alleging that certain assets it listed were securities. The SEC's crackdown on Coinbase rival Kraken has also received criticism from within the agency.

Fears in traditional finance have driven digital asset investment inflows to $160 million. Traditional finance is facing a range of challenges, including rising inflation, low interest rates, and increased regulatory scrutiny, which have led many investors to seek out alternative investments such as cryptocurrencies.

Zurich-based digital asset bank Sygnum is seeing an influx in inquiries from international crypto firms looking for new banking partners following the recent collapses of crypto-friendly banking giants in the United States.

The self-regulatory trade association CryptoUK has proposed providing a ‘white list’ of registered firms in the United Kingdom to address banks limiting or banning transactions to crypto companies.

Anchorage mentioned an evolving landscape facing the crypto industry, which includes regulatory uncertainty in the U.S., broad macroeconomic challenges, and crypto market volatility.