It’s been a busy week in crypto, and we’re only halfway through. Let’s round up what’s been happening:
Stamp duty tax should be applied to crypto, says banker, Kraken eyes a $1bn debt package ahead of IPO, Kentucky governor signs Bitcoin Rights bill into law, SEC drops its investigation into Immutable, and SEC to hold four more crypto roundtable discussions.
Stamp duty tax should be applied to crypto, says banker
Lisa Gordon, chair of investment bank Cavendish, thinks the UK stamp duty tax should be applied to crypto. She believes this will encourage British investors to buy shares, helping boost the UK economy.
In an interview with The Times, Gordon said: “It should terrify all of us that over half of over-45s own crypto and no equities,” adding: “I would love to see stamp duty cut on equities and applied to crypto.”
Investing in shares would encourage more companies to list on the London Stock Exchange (LSE), Gordon said, adding that it would help the UK market. This is unlike crypto, which Gordon described as “a non-productive asset.”
Kraken eyes a $1bn debt package ahead of IPO
Crypto exchange Kraken is reportedly looking at a $1bn loan package as it considers an initial public offering (IPO).
According to a Bloomberg report, the platform has turned to Goldman Sachs and JPMorgan to aid it. Notably, Kraken said earlier that an IPO isn’t something that’s set in stone; however, speculation over the loan package fuels the chances of this happening.
Blockchain.com and Gemini have also reportedly been weighing IPOs.
Kentucky governor signs Bitcoin Rights bill into law
Kentucky has cemented its position as a leader in digital asset protection by signing House Bill 701 into law.
Governor Andy Beshear signed the Bitcoin Rights bill into law on March 24. Under the legislation, Kentuckians’ rights are safeguarded to use, hold, and mine cryptocurrencies like Bitcoin without facing discriminatory regulations.
The bill was officially introduced on February 19, 2025, by Representative Adam Bowling. It passed the House with a 91-0 vote and a 37-0 approval in the Senate.
SEC drops its investigation into Immutable
The US Securities and Exchange Commission (SEC) dropped its lawsuit against the web3 gaming platform, marking a significant win for Immutable.
The move comes as the agency undergoes a regulatory shift with the crypto industry. Immutable first announced it had received a Wells Notice from the SEC in November 2024. At the time, Immutable said they believed the notice was related to “claims targeting the listing and private sales of IMX in 2021.”
Following the news, Immutable’s token, IMX rose 16% in 24 hours.
SEC to hold four more crypto roundtable discussions
Following the success of its first crypto roundtable discussion earlier this month, the SEC’s Crypto Task Force is to hold four more this year.
The next one – Between a Block and a Hard Place: Tailoring Regulation for Crypto Trading – will take place on April 11. The other two will occur on April 25, May 12, and June 6.
Commissioner Hester M. Peirce, leader of the Crypto Task Force, said: “The Crypto Task Force roundtables are an opportunity for us to hear a lively discussion among experts about what the regulatory issues are and what the Commission can do to solve them.”
The SEC held its first crypto roundtable discussion on March 21.
