CHINA'S HAINAN: TO EXPAND TAX-FREE SHOPPING CATEGORIES FOR RESIDENTS AND PROMOTE CROSS-BORDER E-COMMERCE SALES OF DUTY-FREE GOODS BEYOND THE ISLAND

Market & Trading Bitcoin falls back to $75,000 as renewed tensions in the Strait of Hormuz spark market-wide risk-off sentiment Regulation & Policy Hong Kong SFC to announce framework for tokenized asset trading on licensed platforms this afternoon Russia moves to criminalize unlicensed crypto trading with potential sentences of up to 7 years of hard labor Hong Kong Treasury eyes 2026 for new digital asset custody and trading services legislative bill China’s first "Financial Law" draft concludes public comment period, seeking expanded powers to freeze illegal funds Institutional & Corporate Developments Binance Co-CEO Yi He targets 3 billion users, aiming to build a unified platform for Web3 and traditional finance Polymarket in talks for $400 million funding round at a $150 billion valuation to expand prediction markets Alibaba's HappyHorse AI video generation tool to open API testing on April 27, commercial launch set for May Crypto Flows & Holdings Spot Bitcoin ETFs record $996 million net inflow last week, marking three consecutive weeks of positive growth Ethereum Spot ETFs see $276 million weekly net inflow, led by Fidelity’s FETH with $126 million

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