Democratic Senator Warren raised concerns about Beast Industries, owned by MrBeast, regarding its cryptocurrency plans following the acquisition of fintech app Step, with particular focus on protecting minors and fund safety. She demanded clarification on whether Step plans to reopen cryptocurrency investment features for minors, risk disclosure, and marketing ethics issues. Beast Industries stated it will review product and marketing strategies to meet high standards and regulatory requirements.
Taiwan's Legislative Yuan Finance Committee is reviewing the "Virtual Asset Service Law Draft," aimed at regulating offshore cryptocurrency platforms. Currently, only 8 legal VASPs exist, corresponding to 30 offshore black market operators, revealing market imbalance. The draft requires offshore VASPs to establish branch offices or new subsidiaries in Taiwan to operate legally, emphasizing the necessity of consumer protection and regulation.