President Biden has vetoed a resolution to overrule the SEC's crypto accounting guidelines, despite bipartisan support in Congress. The guidelines, which would require crypto assets to be recorded as liabilities, were set to take effect on April 11.
Meanwhile, Israel is speeding up the development of its digital shekel, with the Bank of Israel planning to co-develop an advanced digital payments ecosystem.
In Paraguay, a crackdown on crypto mining has led to the seizure of a property housing 2,738 crypto mining units, following the detection of an unmetered power connection.
Finally, Hong Kong has issued an ultimatum to unlicensed cryptocurrency exchanges: apply for a license by Feb. 29 or shut down operations within three months. Over 22 exchanges applied, but many withdrew their applications just before the deadline.