WuBlockchain Weekly: Argentina Blocks Polymarket Nationwide, Vietnam Plans to Ban Overseas Crypto Platforms, Strategy Accelerates Bitcoin Purchases, etc

Mar 20, 2026

1. Nasdaq Approved for Securities Tokenization Settlement Pilot to Upgrade Traditional Market Infrastructure link

The U.S. SEC has approved Nasdaq’s rule amendments to allow clearing and settlement of certain securities in tokenized form under the DTC Tokenization Pilot framework. Eligible market participants may select tokenized settlement via an order flag. The relevant securities must share the same CUSIP, trading symbol, rights and obligations as traditional securities, and trade on the same order book with equal priority. Initially, the scope covers Russell 1000 component stocks and select major index ETFs.

2. SEC Proposes Crypto Regulatory Framework, Plans Funding Exemptions, Safe Harbor and Clear Asset Classification link

US SEC Chairman Paul S. Atkins stated at the DC Blockchain Summit that the SEC is advancing a framework for crypto asset classification and investment contract interpretation. It will categorize digital assets into non‑securities categories (such as digital commodities, digital collectibles, digital tools, and stablecoins compliant with the GENIUS Act) and digital securities, and clarify that a crypto asset’s security status may terminate once the relevant commitments are fulfilled. At the same time, he proposed a “Crypto Asset Regulatory Framework” that intends to provide financing pathways via safe‑harbor mechanisms, including a startup exemption of up to approximately four years with a financing cap of around $5 million, a financing exemption of up to approximately $75 million within 12 months, and an investment contract safe harbor upon meeting conditions. The relevant rules are expected to enter the public comment phase.

3. New SEC Document Classifies 16 Crypto Assets Including BTC and ETH as Digital Commodities, Not Securities link

The U.S. Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) listed 16 examples of “digital commodities” in an interpretive document, including Aptos (APT), Avalanche (AVAX), Bitcoin (BTC), Bitcoin Cash (BCH), Cardano (ADA), Chainlink (LINK), Dogecoin (DOGE), Ether (ETH), Hedera (HBAR), Litecoin (LTC), Polkadot (DOT), Shiba Inu (SHIB), Solana (SOL), Stellar (XLM), Tezos (XTZ), and XRP (XRP), and explicitly stated that the aforementioned assets do not fall under the category of securities.

4. Vietnam Plans to Ban Citizens from Trading Crypto on Overseas Platforms, to Pilot Local Compliant Exchanges This Month link

Vietnam is drafting new regulations to ban citizens from trading on overseas crypto platforms such as Binance and OKX, and plans to launch a pilot of domestic compliant crypto exchanges as early as this month. According to a Ministry of Finance document, five companies have passed preliminary review: subsidiaries of Techcombank, VPBank, and LPBank, securities firm VIX Securities, and conglomerate Sun Group. Data from Chainalysis shows Vietnam ranks fourth globally in crypto market activity, with annual trading volume exceeding $200 billion.

5. Argentina Orders National Block of Prediction Market Platform Polymarket link

Argentina has ordered a nationwide block on Polymarket, the crypto‑based prediction market platform. After ruling that the platform operates as an unlicensed online gambling service, a court in Buenos Aires instructed the telecommunications regulator ENACOM to restrict access via internet service providers and ordered Google and Apple to remove the app from their app stores for users in Argentina. The case was initiated following a complaint by the Buenos Aires City Lottery (LOTBA). Argentina has become the second Latin American country, after Colombia, to impose full restrictions on Polymarket.

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6. Strategy Announces Purchase of 22,337 BTC for About $1.57 Billion link

Strategy efficiently converts fixed-income capital into spot BTC purchases through STRC floating-rate perpetual preferred shares (par value $100, current dividend yield 11.5%, raised for the 7th consecutive time in March). From March 9 to 15, approximately 11.818 million ATM shares were sold, raising net proceeds of $1.1804 billion (accounting for most of the week’s total $1.5764 billion in financing), with 22,337 BTC purchased, setting a weekly record high in 2026.

Since its launch in July 2025, STRC has become a core tool for its BTC accumulation. Its single-day peak can fund over 4,000 BTC, and the weekly high has driven inflows of more than 7,000 BTC, far exceeding daily new mining supply. However, annual dividend obligations have neared $1.05 billion, and the overhigh proportion of preferred shares has brought significant dilution and cash flow pressure on common shareholders.

7. BTQ Deploys First Post-Quantum Proposal BIP-360 on Testnet link

Quantum technology company BTQ Technologies announced the successful deployment of the first functional implementation of Bitcoin Improvement Proposal BIP-360 on its Bitcoin Quantum Testnet (v0.3.0). BIP-360 is designed to address the potential threat that quantum computing poses to Bitcoin. Its core is the introduction of a new output type called Pay-to-Merkle-Root, which minimizes the exposure risk of elliptic curve public keys. The proposal was officially merged into the Bitcoin BIP repository earlier this year.

8. Morgan Stanley Advances Bitcoin ETF Application, Files Second Amended S-1 link

Morgan Stanley has filed a second amended S-1 registration statement with the U.S. Securities and Exchange Commission (SEC) for its Bitcoin ETF application. The filing confirms that the Morgan Stanley Bitcoin Trust will list on NYSE Arca under the ticker symbol “MSBT.” It discloses a creation unit size of 10,000 shares, an initial seed of 50,000 shares, and an estimated offering size of approximately $1 million. Previously disclosed, BNY Mellon will serve as the Bitcoin custodian and Coinbase will handle related functions. The amendment indicates progress in the application but does not guarantee approval. If approved, Morgan Stanley would become the first major U.S. bank to directly launch a spot Bitcoin ETF.

9. US Appeals Court Denies Kalshi Emergency Request, Clears Way for Nevada Enforcement link

The U.S. Ninth Circuit Court of Appeals denied Kalshi’s emergency motion to stay enforcement action in Nevada, allowing state regulators to enforce a temporary restraining order (TRO) that could bar it from offering sports-related contracts. The Nevada Gaming Control Board previously issued a cease-and-desist order regarding such products, ruling they constitute unlicensed sports betting. Kalshi maintains its event contracts are regulated by the U.S. Commodity Futures Trading Commission (CFTC) and has objected. Lawyers stated that if the TRO takes effect, Kalshi expects to be unable to operate in Nevada for at least 14 days.

10. Multiple Crypto Companies Announce Layoffs to Cut Costs and Boost Efficiency via AI link

Cryptocurrency exchange Gemini has cut approximately 30% of its workforce since the start of the year, reducing its headcount to around 445 employees, and has introduced AI tools to boost efficiency. The company reported a full-year loss of about $585 million in 2025, with fourth-quarter revenue of roughly $60 million but an expanded loss. Previously, it had announced a roughly 25% workforce reduction, exited the UK, EU, and Australian markets, and replaced several senior executives.

Kris Marszalek, CEO of Crypto.com, announced that the company is fully integrating enterprise-grade artificial intelligence (AI) to enhance operational scale and precision. Marszalek stated that companies failing to transition to AI immediately will be eliminated, while slow movers will be left behind. As part of this strategic shift, Crypto.com has laid off about 12% of staff in roles unable to adapt to the new environment. Affected employees have been notified and will receive transition support resources.

The Algorand Foundation has cut around 25% of its staff, citing uncertainty in the global macroeconomic environment and a downturn in the crypto market. It said the move aims to better align resource allocation with the protocol’s long-term business, technology, and ecosystem development priorities, and that it will continue advancing the Algorand network and ecosystem.

Eric Turner, co-founder of crypto research firm Messari, announced he has stepped down as CEO, handing over management of the company to Diran Li. Turner said he will continue to support the company’s development in an advisory capacity. Diran Li also revealed that the management reshuffle will be accompanied by workforce layoffs.

Fundraising

YZi Labs led a $52 million funding round for RoboForce. link
Ironlight Group announced the completion of a $21 million Series A funding round. link
Singapore-based crypto payment firm dtcpay closed a $10 million Series A funding round, led by Vertex Ventures. link
Derivio completed a $6 million funding round to develop AI-native trading terminal infrastructure. link
TransFi announced the completion of a $19.2 million funding round, led by Turing Financial Group. link
Decentralized social network Bluesky completed a $100 million Series B funding round. link
Hamilton Lane announced a strategic investment in Republic, an on-chain investment platform. link

Learn more, check out crypto-fundraising.info.

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