Hong Kong’s ZA Bank Launches Crypto Trading, Brazil Pushes Bitcoin Reserve, and Altcoin ETFs Eye 2025 Approval

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The global cryptocurrency landscape continues to evolve rapidly, with regulatory advancements, institutional adoption, and technological innovation shaping the future of digital assets. This week saw pivotal developments across Asia, the Americas, and regulatory bodies in the U.S., signaling growing integration between traditional finance and blockchain-based systems.

From Hong Kong’s first retail bank offering crypto trading to Brazil’s bold move toward a national Bitcoin reserve, and fresh insights on altcoin ETF timelines, the momentum is building. Below, we break down the most impactful stories — refined for clarity, optimized for search visibility, and enriched with context to meet reader intent.

🏦 ZA Bank Becomes Asia’s First Retail Bank to Offer Crypto Trading

Hong Kong’s ZA Bank has officially launched virtual currency trading services through its mobile app, marking a historic milestone as the first licensed retail bank in Asia to offer direct crypto access to individual users.

Starting this week, Hong Kong residents can now buy and sell Bitcoin (BTC) and Ethereum (ETH) using Hong Kong dollars or U.S. dollars. To participate, users must open an investment account and complete a risk assessment — standard procedures aligned with financial compliance frameworks.

👉 Discover how banks are integrating crypto trading into mainstream finance.

Key Details:

ZA Bank leverages HashKey Exchange’s institutional-grade infrastructure, specifically its newly launched HashKey Pro service. This enables banks, brokers, and payment providers to embed secure, compliant virtual asset trading via APIs, OTC desks, and enterprise-level account management.

This integration sets a precedent for regulated financial institutions seeking to offer crypto services without compromising security or compliance.

🇧🇷 Brazil Moves Toward National Bitcoin Strategic Reserve

In a landmark proposal, Brazilian congressman Eros Biondini has introduced a bill that could position Brazil at the forefront of sovereign crypto adoption.

The proposed legislation, known as RESBit (Bitcoin Strategic Sovereign Reserve), aims to allocate up to 5% of Brazil’s international reserves into Bitcoin. The goal? Diversify national assets, hedge against currency volatility, and mitigate geopolitical financial risks.

Why It Matters:

While still in early stages, the bill reflects a growing trend among nations exploring Bitcoin as a macroeconomic tool — not just a speculative asset.

⚖️ U.S. Court Rules Tornado Cash Smart Contracts Can’t Be Sanctioned

A U.S. federal appeals court delivered a landmark decision: the Treasury Department exceeded its authority by sanctioning the immutable smart contracts behind Tornado Cash, a privacy-focused Ethereum mixer.

The Ruling Explained:

Although parts of Tornado Cash remain restricted, this verdict establishes a crucial legal boundary: code itself cannot be sanctioned if it operates autonomously.

This case may influence future regulatory approaches to decentralized protocols, emphasizing that enforcement should target individuals — not self-executing software.

📈 Altcoin ETFs: SOL, XRP, LTC May Wait Until Late 2025

According to Bloomberg Intelligence analyst James Seyffart, spot ETFs for major altcoins like Solana (SOL), XRP, Litecoin (LTC), and Hedera (HBAR) are unlikely to launch before late 2025.

Why the Delay?

However, there's optimism: A potential shift in SEC leadership in 2025 could bring more crypto-friendly policies — possibly allowing staking-enabled ETFs in the future.

WisdomTree and 21Shares have already filed for XRP ETFs, but approval hinges on resolving structural compliance issues.

🤖 CZ on Blockchain + AI: “We Need Better Tools”

Binance founder Changpeng Zhao (CZ) recently highlighted the untapped potential of combining blockchain and artificial intelligence, particularly in data labeling and micro-payments.

CZ’s Vision:

When asked about rewarding high-quality annotators while filtering spam, CZ suggested using normal distribution models to rank performance and incentivize quality — while separately addressing bot attacks.

👉 Explore platforms enabling blockchain-AI synergy today.

This emerging convergence could redefine how decentralized networks power next-gen AI development.

🔚 Kraken Shuts Down NFT Marketplace

Kraken has announced the shutdown of its NFT marketplace:

Launched in November 2022 during the NFT boom, Kraken’s exit reflects broader market trends — declining volumes and reduced user engagement across NFT platforms.

The exchange plans to redirect resources toward new product development, though details remain under wraps.

🌐 The “World Computer” Concept Gains Academic Attention

A new paper co-authored by researchers from MegaETH and Eigen Foundation explores the idea of a “world computer” — a global, decentralized computing platform powered by blockchain.

Core Features:

The authors urge developers to focus on building robust, scalable infrastructure to realize this vision — positioning blockchain as the foundation for the next era of human coordination.

💼 Key Funding Rounds This Week

Several projects secured significant funding, highlighting investor confidence in diverse blockchain sectors:

These investments signal strong momentum in infrastructure, identity, interoperability, and financial rails.

🔍 Frequently Asked Questions (FAQ)

Q: Is ZA Bank’s crypto trading service available outside Hong Kong?

A: Currently, only Hong Kong residents with verified identities can access the service. Expansion plans have not been announced.

Q: Can the U.S. government ban other DeFi protocols after Tornado Cash?

A: While individual addresses or entities can be sanctioned, this ruling suggests that autonomous smart contracts without control mechanisms may fall outside current regulatory reach — setting an important precedent.

Q: Will XRP ETFs be approved before 2026?

A: Based on current regulatory hurdles and lack of futures markets, late 2025 is the earliest likely window — assuming no major policy shifts occur earlier.

Q: Why did Kraken shut down its NFT marketplace?

A: Declining market activity and strategic reallocation of resources led Kraken to discontinue the NFT platform in favor of new product development.

Q: What does “world computer” mean in blockchain context?

A: It refers to a decentralized global network capable of running applications securely and transparently without centralized oversight — essentially turning blockchains into universal computing platforms.

Q: Are altcoin ETFs safer than direct crypto ownership?

A: ETFs offer regulated exposure without private key management, reducing custodial risk — but they come with fees and may not support staking or full ownership rights.

🔑 Core Keywords Integrated:

👉 Stay ahead with real-time insights on crypto innovation and regulation.

As institutions embrace digital assets and courts clarify regulatory boundaries, the path toward mainstream adoption grows clearer. Whether through national reserves, bank-integrated trading, or next-generation financial products, 2025 promises transformative changes across the crypto ecosystem.