• Cayman foundation registrations surge as Web3 projects seek safer, liability-shielded structures.
• DAOs turn to Cayman models after US rulings raise risks for unwrapped decentralised organisations.
• New OECD reporting rules take effect in 2026, but most DAO treasury foundations may remain exempt.

The Cayman Islands is recording a sharp rise in foundation company registrations as Web3 projects reassess where to base their legal entities.

New figures show a strong year-on-year jump in these registrations, signalling how the jurisdiction is becoming a preferred destination for decentralised projects seeking legal clarity.

The growth began gathering pace toward the end of 2024 and has already carried into 2025, with communities and developers looking for structures that can support expanding ecosystems.

The trend reflects how recent legal developments, particularly in the United States, are prompting DAOs and Web3 organisations to seek more predictable, liability-shielding frameworks.

DAO structure shifts

Foundation companies in the Cayman Islands are increasingly being used as legal wrappers for DAOs and as ecosystem stewards for major Web3 networks.

Registrations now include more than 1,300 entities at the end of 2024 and over 400 newly formed in 2025.

Cayman Finance reports that many leading Web3 projects have chosen the jurisdiction, including at least 17 foundations that oversee treasuries above the hundred-million threshold.

These entities allow DAOs to sign agreements, manage intellectual property, hire contributors, and interact with regulators without exposing tokenholders to personal liability.

The shift accelerated after the Samuels v. Lido DAO decision in 2024, where a US federal court found that an unwrapped DAO could be treated as a general partnership under California law.

This prompted many communities to reassess their structures.

The Cayman model provides separate legal personality and ownership capabilities that help plug this liability gap.

Add tax neutrality and a framework familiar to institutional allocators, and the jurisdiction becomes attractive to projects that need both compliance readiness and operational flexibility.

Global Web3 competition

Jurisdictions worldwide are trying to position themselves for the next wave of Web3 growth.

The US has made repeated political pledges about becoming a global crypto hub, particularly under President Donald Trump, yet only a few states explicitly recognise DAOs as legal persons.

This leaves many organisations navigating fragmented rules at the entity level.

Switzerland remains a major onshore centre for Web3 foundations, with the Crypto Valley region now hosting more than 1,700 active blockchain firms and recording growth of over 130% since 2020.

Foundations and associations have become an increasingly important part of this expansion, although projects continue to diversify their jurisdictional footprints in search of structures aligned with their long-term plans.

Compliance changes

The rise in Cayman-based Web3 foundations coincides with a major regulatory shift.

The Cayman Islands has implemented the Organisation for Economic Co-operation and Development’s Crypto-Asset Reporting Framework, with new Tax Information Authority regulations taking effect from January 1, 2026.

The framework brings due diligence and reporting requirements for “Reporting Crypto-Asset Service Providers,” covering entities that exchange crypto for fiat or other crypto, operate trading platforms, or provide custodial services.

These entities will need to collect tax-residence information from users, track specific transactions, and submit annual reports to the Tax Information Authority.

Legal professionals note that the rules are expected to apply only to service providers engaged in exchange or brokerage activity.

Structures that merely hold crypto assets, such as protocol treasuries, investment funds, or passive foundations, are likely to fall outside this reporting scope under the current interpretation.

This suggests that many DAO-related foundations that act purely as ecosystem stewards or treasury vehicles may continue to benefit from Cayman’s legal certainty without assuming full reporting duties, so long as they are not running exchange, brokerage, or custody operations.

As Web3 organisations mature and adapt to evolving compliance landscapes, the Cayman Islands appears set to remain a central node in the global distribution of decentralised governance structures.

The post Cayman Islands sees rising Web3 foundation activity appeared first on CoinJournal.

Europol and law enforcement agencies in Germany and Switzerland have shut down one of Europe’s largest illicit crypto-mixing operations, seizing €25 million ($27 million) in Bitcoin and confiscating more than 12 terabytes of user data.

The takedown, announced on December 1, marks one of the most extensive actions yet under the EU’s ongoing effort to dismantle services that obscure the flow of criminal funds.

Europol supports Germany and Switzerland in taking down 'Cryptomixer', seizing EUR 25 million in Bitcoin. This illicit mixing service facilitated money laundering of proceeds from a variety of criminal activities.

Details https://t.co/d3oTlbrDzd pic.twitter.com/Qtml6nhGlX

— Europol (@Europol) December 1, 2025

Six-Year-Old Crypto Laundering Service Taken Offline

The operation took place between November 24 and 28 in Zurich, with Europol supporting authorities on the ground throughout the action week.

Investigators seized three servers, took control of the cryptomixer(dot)io domain, and replaced the site with a law-enforcement seizure banner.

According to Europol, the platform, known as “Cryptomixer,” functioned as a hybrid mixing service on both the clear web and the dark web.

Since its launch in 2016, the service has processed more than €1.3 billion in Bitcoin linked to a wide range of illegal activity.

Authorities say the mixer was used heavily by ransomware groups, underground cybercrime forums, and operators on dark-web markets.

Its software pooled deposits for long, randomized periods, then redistributed funds to new addresses designed to break transaction trails.

This method helped conceal proceeds of drug trafficking, weapons trafficking, payment-card fraud, and cyberattacks, allowing criminals to convert “cleaned” assets back into other cryptocurrencies or fiat currency through exchanges, ATMs, and bank accounts.

Europol coordinated intelligence sharing through its Joint Cybercrime Action Taskforce and provided forensic specialists during the raids.

The agency has been involved in several major anti-mixing operations in recent years, including the March 2023 takedown of ChipMixer, then the largest service of its kind.

The shutdown comes as the EU tightens its anti-money-laundering framework ahead of major regulatory deadlines. Under new AML rules tied to MiCA, crypto-mixing services are banned across the bloc, and anonymity-enhancing coins such as Monero and Zcash will be prohibited by 2027.

Crypto-asset service providers are required to apply strict KYC checks, identify the sender and receiver of all transfers, and conduct enhanced due diligence on transactions above €1,000.

These measures aim to close regulatory gaps that have historically allowed laundering networks to operate across borders with minimal oversight.

Europol Leads Wave of Digital Crime Takedowns as Mixer Scrutiny Grows

The enforcement climate around mixers has intensified globally. In January 2025, a U.S. federal grand jury indicted three Russian nationals accused of running Blender(dot)io and its successor, Sinbad(dot)io, mixers the Department of Justice says were used by the North Korean Lazarus Group.

A federal grand jury in Georgia has indicted three Russian nationals for operating cryptocurrency mixing services https://t.co/O4zvAPMnTQ and https://t.co/2yKHniWPLK.#Mixer #Russianhttps://t.co/6fgsHt1UjR

— Cryptonews.com (@cryptonews) January 12, 2025

In November, a New York court sentenced Samourai Wallet co-developer Keonne Rodriguez to five years in prison after prosecutors said the service laundered more than $237 million in illicit funds.

The ruling has accelerated scrutiny of privacy-focused and non-custodial crypto tools.

Notably, Samourai Wallet’s chief technology officer, William Lonergan Hill, was also sentenced to four years in federal prison for his role in the mixer activities.

@SamouraiWallet founders Keonne Rodriguez and William Hill are set to reverse their plea to “guilty” in a high-profile crypto privacy case, according to New York court filings.#SamouraiWallet #CryptoMixers https://t.co/8aHVgJKESf

— Cryptonews.com (@cryptonews) July 30, 2025

The Cryptomixer takedown also arrives during one of Europol’s most active enforcement years in the digital-crime ecosystem.

In October, European investigators dismantled a cybercrime syndicate responsible for creating more than 49 million fake online accounts.

The network provided temporary SIM-based phone numbers that allowed criminals to bypass two-factor authentication and mass-produce fraudulent identities used to exploit exchanges, banks, and e-commerce platforms.

Seven suspects were arrested, and hundreds of SIM servers and routers were seized.

Earlier in June, Europol led raids against Archetyp Market, one of the dark web’s longest-running drug marketplaces.

Europol has dismantled one of the dark web’s longest-running marketplaces, Archetyp Market, following coordinated raids across six countries. #Archetyp #Darknethttps://t.co/sweGIyi2if

— Cryptonews.com (@cryptonews) June 18, 2025

Authorities seized core infrastructure in the Netherlands and arrested suspects across Europe, though experts noted that operators often regroup on decentralized platforms.

The post Europol Authorities Bust $1.4B Cryptomixer, Seizing $27M and 12TB of User Data appeared first on Cryptonews.

According to the Swiss Federal Council and government sources, Switzerland will postpone the automatic exchange of cryptocurrency account data with foreign tax authorities until at least January 2027.

That means the country will still pass new rules next year, but the cross-border sharing of crypto tax files will not start on schedule.

Delay Comes Despite Law Entering Into Force

Based on reports, the legal framework that brings crypto into the international tax reporting system is set to take effect on January 1, 2026.

Yet the step that actually lets Swiss authorities send data to other countries has been paused after a key parliamentary committee suspended its work on which partner states to include.

In practice, firms in Switzerland will face new domestic reporting duties in 2026, but the first round of international data swaps will wait until at least 2027.

Parliament Approved A List Of Partner States Earlier

Reports have disclosed that the Federal Council had previously prepared a list of 74 partner jurisdictions that would be eligible for automatic exchange under the OECD’s Crypto-Asset Reporting Framework (CARF).

That list was formalized in mid-2025, and it covers most EU member states plus the United Kingdom and other major economies that are ready to take part. But political talks and technical checks about reciprocity and rules have slowed the actual start of exchanges.

What Firms And Clients Will See

Crypto service providers in Switzerland will still need to register, carry out customer checks, and collect the information required by the CARF once the law is active.

Based on reports, that means exchanges and certain wallet providers must prepare files and be able to report holdings and transaction details when asked. For users, that makes holdings visible to tax authorities in partner countries once exchanges begin.

Major Countries Not Yet In The Initial Group

According to coverage of the issue, some big economies — for example the US, China and Saudi Arabia — are not included in the initial exchange group because they either have not aligned with CARF or do not have the necessary reciprocal agreements in place. That affects how broad the data sharing will be during the first year of exchanges.

Politics And Practical Checks Behind The Pause

Based on the Federal Council’s announcement and parliamentary notes, Swiss lawmakers and officials say they want to be sure the partner list meets legal and diplomatic standards before data leaves Swiss systems.

That has led the Economic Affairs and Taxation Committee to pause its deliberations while remaining issues are settled. The pause gives regulators time to double-check technical setups and the legal basis for exchanges.

Featured image from Unsplash, chart from TradingView

Switzerland will adopt the crypto-asset reporting framework in law from 2025 but delay automatic cross-border crypto tax data-sharing until at least 2027. Switzerland has postponed the implementation of rules permitting automatic sharing of cryptocurrency account data with foreign tax authorities…

Under the ETP structure, Bitcoin Capital will lock the underlying BONK tokens, reducing the circulating supply.

The rollout allows individuals to consolidate account information from multiple banks into a single application.

The post Open Banking Launches in Switzerland appeared first on TechRepublic.

The rollout allows individuals to consolidate account information from multiple banks into a single application.

The post Open Banking Launches in Switzerland appeared first on TechRepublic.

• The licence covers 13 cryptocurrencies, including Bitcoin, Ether, USD,C and Tether.
• AMINA reported a 233% increase in Hong Kong trading volumes in early 2025.
• Hong Kong launched new stablecoin rules and approved a Solana ETF this year.

Hong Kong’s push to build a regulated digital asset market is drawing more interest from global financial institutions, and the latest example is Swiss crypto bank AMINA Bank AG securing approval to expand its services in the city.

The bank received a Type 1 licence uplift from the Securities and Futures Commission, which makes it the first international bank allowed to offer regulated crypto trading and custody to institutional clients in Hong Kong.

The move strengthens the city’s position as a regional digital asset hub and highlights rising demand for bank-grade crypto services among professional traders.

AMINA plans to use the approval to provide institutional users with a regulated route into cryptocurrencies at a time when clients are looking for stronger safeguards and clearer rules.

Hong Kong’s compliance standards have often limited the number of foreign institutions able to offer these services, which has left a gap in the market for firms with established banking frameworks.

AMINA’s entry aims to fill that gap while giving clients a regulated platform backed by traditional financial infrastructure.

AMINA expands in a fast growing market

The licence uplift allows AMINA’s Hong Kong subsidiary to offer trading and custody for 13 cryptocurrencies.

These include Bitcoin, Ether, USDC, Tether, and several leading decentralised finance tokens that are widely used across global exchanges.

The approval creates new opportunities for institutional clients looking for a single regulated venue with access to a curated list of major digital assets.

AMINA also reported a sharp rise in market activity.

The bank recorded a 233% increase in trading volume on Hong Kong crypto exchanges in the first half of 2025.

The increase points to stronger engagement from both institutional and retail segments, which are becoming more active as Hong Kong’s regulatory environment evolves.

The bank expects the new approval to support a wider product range.

It plans to expand into private fund management, structured crypto products, derivatives, and tokenised real-world assets.

These additions would place AMINA among the firms offering institutional clients diversified exposure across multiple types of digital assets.

Local players face new global competition

While AMINA is the first international bank to receive this specific licence upgrade, it enters a competitive market.

Hong Kong already hosts regulated local firms such as Tiger Brokers and HashKey, which serve institutional and retail clients under earlier permissions.

AMINA’s approval signals that the market is open to more foreign institutions, which could change competitive dynamics for both global and local providers.

Hong Kong officials have said on multiple occasions that attracting global firms is central to the city’s digital asset strategy.

AMINA’s arrival may encourage more banks and brokerages abroad to consider similar applications as they assess opportunities in Asia’s regulated crypto markets.

Policy changes shape Hong Kong’s crypto framework

AMINA’s approval arrives during a period of rapid policy development in the city.

Hong Kong introduced its new stablecoin rules in August, creating a formal licensing pathway for issuers.

Following this, major regional banks such as HSBC and ICBC indicated they were examining licence applications as part of their digital asset plans.

The city also approved its first Solana exchange-traded fund in late October.

The approval placed Hong Kong ahead of the US in allowing a regulated Solana ETF and added another product to its growing list of crypto-linked investment options.

Hong Kong tightened rules around self-custody of digital assets in August.

The change focused on improving cybersecurity protections and reducing risks tied to individual key management.

The decision was presented as a safety measure rather than a restriction on user access.

The combination of new rules and rising institutional interest has created an environment that is now attracting more global firms.

AMINA’s regulatory progress adds momentum to Hong Kong’s strategy of balancing strong compliance with market expansion.

The post Hong Kong crypto rules attract global banks as AMINA wins new approval appeared first on CoinJournal.

Switzerland’s Federal Office for Defence Procurement (armasuisse) has awarded new contracts for multispectral camouflage systems to three European defense suppliers — SSZ Camouflage Technology AG (Switzerland), Saro GmbH (Germany), and Saab (Sweden). The decision followed an extensive testing and evaluation process based on performance capability, integration potential, and logistical and economic factors. The selected systems […]

Bitcoin Magazine

Switzerland’s FUTURE Raises CHF 28 Million to Build ‘Europe’s Premier Bitcoin Treasury’

The international Bitcoin ecosystem just got another major player.

FUTURE (Future Holdings AG), a self-described “Bitcoin Treasury Company,” has raised CHF 28 million in a new funding round backed by some of Bitcoin’s best-known institutional investors. CHF 28 million is over $34 million.

The Zurich-based firm says it wants to become Europe’s leading Bitcoin treasury platform — a kind of institutional bridge connecting Bitcoin with global capital markets.

The round was anchored by Fulgur Ventures, Nakamoto, and TOBAM, three firms deeply tied to both traditional finance and Bitcoin investing.

Led by a heavyweight team from the worlds of venture capital, fintech, and Bitcoin infrastructure, FUTURE is positioning itself at the crossroads of finance and sound money. 

The company’s leadership includes Chairman Richard Byworth, Managing Partner at Syz Capital and former CEO of Diginex, and CEO Sebastien Hess, a fintech entrepreneur who previously worked with Rocket Internet and Bitcoin mining venture Block Green (backed by Peter Thiel and Coinbase).

Other co-founders include Marc Syz, CEO at Syz Capital; Julian Liniger, CEO of Swiss Bitcoin app Relai; and Adam Back, the inventor of Hashcash and CEO of Blockstream — a name synonymous with Bitcoin’s early technical foundations.

“This round brings together leading venture investors who share our conviction in Bitcoin and in the strength of the team we’ve built at FUTURE,” said CEO Sebastien Hess. “Their commitment reflects confidence in our execution and our vision to build Europe’s premier Bitcoin treasury company — a trusted institutional gateway that connects Bitcoin with global capital through financial discipline, technology, and transparent governance.”

Byworth added that Switzerland’s macro backdrop — with a 0% base rate and negative-yielding government bonds — gives the company a strategic edge. 

“The calibre of investors in this round, and the strong interest we’ve seen in a challenging environment, highlight the demand for a Swiss Bitcoin Treasury Company,” he said.

FUTURE’s model is built around a Bitcoin-heavy balance sheet that forms the foundation of its business. The firm’s integrated approach combines four key verticals: Bitcoin treasury operations, institutional research and analytics, infrastructure and custody solutions, and advisory services — including the upcoming Future Bitcoin Forum 2026 in Switzerland.

“Switzerland has a long tradition of financial innovation and trust,” said Vice-Chairman Marc Syz. “It’s time for the country to continue on that path and lead in Bitcoin by building institutional infrastructure that meets the highest global standards.”

Disclosure: Nakamoto is in partnership with Bitcoin Magazine’s parent company BTC Inc to build the first global network of Bitcoin treasury companies, where BTC Inc provides certain marketing services to Nakamoto. More information on this can be found here.

This post Switzerland’s FUTURE Raises CHF 28 Million to Build ‘Europe’s Premier Bitcoin Treasury’ first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

Swiss Bitcoin-Only App Relai Secures MiCA License in France

Swiss Bitcoin app Relai has become one of the first Bitcoin-only companies to receive regulatory approval under Europe’s landmark Markets in Crypto-Assets (MiCA) framework. 

The Zurich-based firm announced today that it has been granted authorization as a Crypto-Asset Service Provider (CASP) by France’s Financial Markets Authority (AMF), according to a note shared with Bitcoin Magazine.

The approval marks a significant moment not just for Relai, but for the broader Bitcoin ecosystem in Europe. The MiCA regulation, which came into effect earlier this year, establishes uniform rules for crypto companies across the EU, aiming to increase investor protection and reduce regulatory fragmentation between member states. 

While large exchanges like Binance and Coinbase are still navigating the complex licensing process, Relai’s early authorization gives it a head start as one of the first Bitcoin-only firms to achieve compliance.

“We’re incredibly proud to be one of the first Bitcoin companies to get the MiCA license and are eager to expand to France first — and Europe in a second step,” said Julian Liniger, co-founder and CEO of Relai. “This is a big moment for Bitcoin adoption on the continent.”

Relai is expanding a bitcoin-only vision across Europe

Founded in Zurich in 2020, Relai has grown despite a rough regulatory environment for digital assets.

The company closed a Series A funding round last year and surpassed 500,000 app downloads, establishing itself as a user-friendly gateway for European retail investors seeking exposure to Bitcoin without intermediaries.

With the MiCA license secured, Relai can now “passport” its services across the EU — meaning it can operate in all 27 member states once formal notification procedures are complete. 

The company plans to introduce a suite of new features tailored to European users, including Instant SEPA payments, higher trading limits, fixed-price transparency, and enhanced security standards.

Relai also intends to invest in education and community-building, launching localized learning resources and sponsoring Bitcoin events across Europe. 

“Our goal is clear: bringing Bitcoin to as many people as possible — simple, secure, and regulated,” said Adem Bilican, co-founder and president of Relai EU.

The company is also strengthening its governance with a newly appointed advisory board, featuring industry veterans Jean Guillaume, Daniel Astraud, and Herve de Kerdrel, who will provide guidance on regulatory compliance and strategic growth. 

Relai plans to leverage its MiCA approval to expand across Europe, with marketing campaigns and app updates scheduled for 2026.

Yesterday, Blockchain.com announced it received a MiCA license as well, granted by the Maltese Financial Services Authority (MFSA),

This post Swiss Bitcoin-Only App Relai Secures MiCA License in France first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

The European continent is currently home to the most countries that have adopted national adult-use cannabis legalization measures. The South American continent has one (Uruguay); North America has one (Canada); and Africa has one (South Africa); Comparatively, four European nations have adopted national recreational legalization measures.

Malta became the first European country to adopt a national, adult-use cannabis legalization measure back in 2021, making Malta the third country to do so globally, only behind Uruguay and Canada. While many other European countries were expected to be the first to legalize, Malta ultimately holds that title. Malta was then followed by Luxembourg, which adopted its recreational cannabis legalization law in 2023. Luxembourg’s adult-use legalization model is inferior to Malta’s in various ways.

Germany approved its historic legalization measure in 2024. The German CanG law is widely considered to be the most significant cannabis policy modernization victory in Europe to date and ushered in a new era for the continent’s emerging cannabis industry and reform movement. Germany’s legalization model includes provisions for personal cultivation (three plants) and possession (50 grams), as well as cultivation associations and pilot trials. Malta’s model includes cultivation associations, but not pilot trials, and Luxembourg’s model includes neither cannabis legalization model components.

The Czech Republic became the most recent European nation to legalize cannabis for adult use when lawmakers approved a measure earlier this year. Czechia’s cannabis legalization model will permit adults to cultivate up to three plants in their private residences and possess up to 100 grams of cannabis. Czechia’s adult-use cannabis possession limit will be the greatest in Europe, although the Czech legalization model will not include cultivation associations or pilot trials, unfortunately. Recreational legalization will take effect in the Czech Republic on January 1, 2026.

Slovenia and Switzerland Predicted to Legalize Next

Now that four European countries have legalized cannabis for recreational use, the obvious question is ‘which country will be next?’ Lawmakers in several European nations are considering adult-use legalization measures, yet some proposals seem to have a better chance of being approved compared to others. The political reality is that just because a measure is proposed, it doesn’t necessarily mean that it will be approved.

One European country that is at the top of most policy observers’ legalization list is Slovenia. Lawmakers in Slovenia introduced an adult-use legalization measure in July, mere days after the country’s National Assembly approved a landmark medical cannabis legalization measure. Some of the reported components of Slovenia’s proposed adult-use legalization law include:

• Four plants per adult, or six plants per multi-adult residences
• Possession of up to seven grams of cannabis in public
• Possession of up to 150 grams of cannabis in private residences, or 300 grams in multi-adult residences
• Gifting cannabis to other adults would be legal
• Employers would be prohibited from testing their employees for cannabis use

Last year, Slovenia’s voters approved both a medical cannabis referendum measure and an adult-use referendum measure. The vote on the adult-use measure received 51.57% approval from Slovenian voters. While the referendum vote was not legally binding, it did send a clear message to Slovenia’s lawmakers that a majority of Slovenia’s voters want a modernized approach to the nation’s cannabis laws.

Another European nation being watched closely by cannabis policy observers is Switzerland, where an adult-use legalization measure was introduced earlier this year. The measure received preliminary approval by Switzerland’s Social Security and Health Committee of the National Council in February. Below are components of what is being considered in Switzerland:

• Three plants per adult
• Sales would be taxed and subject to a state monopoly
• Vertical integration and advertising would be prohibited
• Penalties would be increased for “people who evade the legal market”

Switzerland’s proposed legalization model would permit adults to possess a personal amount of cannabis; however, a specific possession limit hasn’t been identified yet. According to a previous press release from Switzerland’s Social Security and Health Committee of the National Council, “maximum quantities for private and public possession apply,” but quantities were ultimately not specified.

A major factor working in Switzerland’s favor is that regional adult-use cannabis commerce pilot trials are already operating in the European country. Over two years after the first pilot trial launched in Switzerland, no major issues have been reported. Lawmakers in Switzerland can now use the data and insight gathered from the regional pilot trials to help them advocate for national legalization.

Europe remains the most exciting place on the planet for cannabis policy and industry. People who want to get in on the action are encouraged to attend the upcoming International Cannabis Business Conference in Berlin, Germany in April. It’s Europe’s largest and longest-running B2B cannabis conference. Leading policy and industry experts from both Slovenia and Switzerland will be in attendance, along with leaders from other top European markets. Many of them will be presenting the most-current information about Europe’s emerging cannabis laws and regulations through keynote presentations and panel discussions.

The post Which European Countries Will Legalize Cannabis Next? appeared first on Cannabis Now.