Circle’s Chief Strategy Officer Dante Disparte responded to the Drift Protocol theft incident, emphasizing that freezing USDC is being carried out according to law, calling for stronger coordination between law and technology, and suggesting that DeFi protocols should draw on protection mechanisms from traditional markets to advance legal protection of property rights and financial privacy.

The article discusses legal disputes involving Polymarket prediction markets, especially the unclear boundary between insider trading and gambling. It emphasizes that using USDC for settlement exposes Chinese participants to legal risk, and it mentions the “End Prediction Market Corruption Act” proposed by a U.S. senator, which prohibits certain government officials and their family members from participating in prediction market trading.

Bitcoin ATM operator Bitcoin Depot recently filed a report with the U.S. SEC, saying it was hit by a cyberattack on March 23 in which hackers stole approximately 50.9 BTC valued at about $3.665 million. The company has initiated an emergency response and investigation. Its customer platform and data were not affected, but it may face reputational and legal costs.

Gate News message, April 9, according to a report by CoinDesk, South Korea’s ruling party has proposed a “Basic Act on Digital Assets,” aiming to establish a comprehensive legal framework covering issuance, trading, custody, and regulation. The bill would classify digital assets such as stablecoins—those pegged to fiat currencies or real-world assets—as a special category, requiring issuers to obtain licenses and meet requirements including capital, reserves, and redemption. The bill also plans to introduce a licensing and information disclosure system, clearly prohibiting market manipulation and insider trading, and intends to set up a Digital Assets Committee to coordinate regulatory oversight.

The U.S. Department of Justice’s case against Tornado Cash co-founder Roman Storm continues to intensify. Prosecutors rebut the Supreme Court ruling Storm cited, emphasizing that the legal framework is different. Storm faces criminal charges including money laundering, and the related funds are closely linked to illegal activity. The case has significant implications for crypto privacy protocols and regulation.

American prediction market platform Kalshi made progress in its legal dispute with the state of New Jersey, as a court ruled that its contracts fall under federal regulation and are not gambling. The decision emphasized that the product meets the definition of a “swap transaction,” protecting Kalshi’s operations within the state. This case marks the first time a federal court has considered the legality of a prediction market, and increased attention will be paid to a unified regulatory framework going forward.

A decentralized perpetual contract trading platform Denaria announced that its smart contract was attacked, resulting in a loss of about $165k. The team is investigating with the auditors and has suspended the user interface while preparing a refund process. Denaria hopes to avoid legal action by inviting the attacker to contact them through a bounty program.

Gate News message. April 3, according to Solid Intel, Turkey sold about 120 tons of gold within three weeks, worth up to $20 billion, to support its legal tender lira. Of that, it sold about 70 tons of gold last week.

The U.S. Commodity Futures Trading Commission filed a lawsuit seeking to stop the State of Illinois from regulating prediction markets, arguing that the state’s actions infringe on federal regulatory authority. This case marks the CFTC’s first legal action to challenge state-level gambling regulation. The dispute began when Illinois issued a cease-and-desist order to the prediction market Kalshi, alleging it violated the state’s gambling laws.

Gate News update: On April 2, according to market sources, the U.S. Commodity Futures Trading Commission (CFTC) and the Department of Justice (DOJ) filed a lawsuit against the state of Illinois, its governor, and its attorney general, alleging that they tried to regulate prediction markets beyond their legal authority. The two federal agencies said the relevant regulatory measures in Illinois are ineffective because the state government has no jurisdiction over federally regulated prediction markets. The complaint documents emphasized that the move is intended to protect innovative financial instruments from overreaching interference by local governments.