Hey there, PoI readers! 💫

It's your favorite tech and web3 navigator, Mochi, back with another electrifying edition of digital disruption! 🌐 In this Newsletter, we're diving deep into the crypto universe, exploring Apple's App Store shake-up, Tether's regulatory rebellion, the US Treasury's crypto crackdown, and the global stablecoin sovereignty showdown. Grab your favorite beverage, settle in, and prepare for a journey through the most fascinating corners of the digital landscape! 🔍

Learn AI in 5 minutes a day

This is the easiest way for a busy person wanting to learn AI in as little time as possible:

1. Sign up for The Rundown AI newsletter

2. They send you 5-minute email updates on the latest AI news and how to use it

3. You learn how to become 2x more productive by leveraging AI

Sign up to start learning.

INTEL BRIEF

🟧 Apple introduces significant App Store rule changes and discusses tariff impacts during recent earnings call.

🟧 Tether CEO Paolo Ardoino defends not registering for MiCA, citing concerns about European regulations and stablecoin restrictions.

🟧 US Treasury moves to cut off Huione Group's banking access due to alleged cryptocurrency laundering activities.

🟧 Global governments seek alternatives to US dollar stablecoins, driven by sovereignty concerns and financial independence.

Apple Blows Up App Store Rules and Gives Developers a Payment Escape Hatch

Apple has dramatically shifted its App Store policies, allowing developers to redirect users to external payment websites for digital purchases. This seismic change comes directly on the heels of a legal battle with Epic Games that challenges the tech giant's long-standing control over in-app transactions.

The transformation isn't just a minor tweak—it's a court-mandated evolution that strips away Apple's previous iron-clad grip on app monetization. Following a 2021 injunction, Apple has been forced to provide developers more flexibility in how they handle digital payments. Previously, the company demanded a hefty 30% commission on in-app purchases, a practice that sparked widespread developer frustration.

While Apple maintains it "strongly disagrees" with the court's decision and plans to appeal, companies like Spotify are already moving to capitalize on the new rules. The updated guidelines mean apps can now include external links and buttons that guide users to their own payment platforms, potentially saving developers significant revenue.

Interestingly, this development coincides with Apple CEO Tim Cook's recent earnings call, where he candidly discussed another financial challenge: tariffs. Cook revealed that current trade policies might add approximately $900 million in costs for the company's third quarter, though he remained cautiously optimistic about Apple's ability to navigate these economic complexities.

The tech titan is demonstrating remarkable adaptability, with Cook noting that Apple is already sourcing around half of its U.S. iPhones from India and most other products from Vietnam. His strategic approach emphasizes "thoughtful and deliberate decisions" and a commitment to long-term innovation.

These concurrent developments showcase Apple's ongoing dance with regulatory pressures and market dynamics, signaling a potentially more open and developer-friendly future for the App Store ecosystem.

Court ruling forces changes to App Store commission structure

Tim Cook anticipates $900M in tariff-related costs for Q3

Company remains confident in its ability to innovate and adapt

Tether Fights Back Against European Crypto Regulators

Tether's CEO Paolo Ardoino has drawn a line in the sand against the European Union's Markets in Crypto-Assets (MiCA) framework. Speaking at the Token2049 conference in Dubai, Ardoino made it crystal clear that Tether has zero intentions of seeking registration under the new European digital asset regulations.

Tether's decision could potentially force exchanges to delist its USDT stablecoin in European markets. But Ardoino isn't backing down. He argues that the MiCA regulations are "very dangerous" for stablecoins, painting a dramatic picture of potential financial disruption.

At the heart of Ardoino's criticism are the framework's stringent requirements, particularly a mandate that 60% of stablecoin reserves be kept in insured cash deposits in European banks. He warns this could spell doom for small and medium-sized banking systems in Europe, suggesting some banks might "go belly up" under these restrictions.

The Tether CEO's dramatic stance goes beyond financial concerns. He claims the European Central Bank is more interested in controlling people's spending through the digital euro, positioning Tether's decision as a protection of user freedom for its 400 million+ global users.

Exchanges like Kraken and Crypto.com have started delisting non-compliant stablecoins, creating a potentially challenging landscape for Tether. Despite this, the company remains defiant, regulated from El Salvador and confident in its global approach.

In a broader commentary on crypto's evolving landscape, Ardoino also weighed in on national Bitcoin reserves, calling their establishment "inevitable." His parting shot? "It's never too late to buy Bitcoin," a statement that's quintessentially crypto-maverick.

As of May 1, Tether's market capitalization stands at a whopping $149 billion, with $120 billion exposed to US Treasurys in the first quarter of 2025 – numbers that underscore the company's significant market presence.

Tether refuses to register under EU's MiCA framework

CEO warns regulations could harm European banking system

Exchanges begin delisting non-compliant stablecoins

US Treasury Declares War on Huione Group's Crypto Laundering Network

US Treasury has set its sights on the Cambodia-based Huione Group, proposing to sever the company's access to the American banking system. The accusations are as serious as they are extensive: allegedly serving as a critical conduit for North Korea's state-sponsored Lazarus Group's cryptocurrency laundering operations.

The Financial Crimes Enforcement Network (FinCEN) has dropped a bombshell, accusing Huione of being a "marketplace of choice for malicious cyber actors" who have stolen billions from everyday Americans. Treasury Secretary Scott Bessent pulled no punches, describing the proposed action as a direct strike to "degrade these groups' ability to launder their ill-gotten gains".

The Huione Group's criminal portfolio is disturbingly comprehensive. Their network includes Huione Pay PLC, Huione Crypto exchange, and Haowang Guarantee – an online marketplace that sounds more like a criminal bazaar than a legitimate business. FinCEN's investigation reveals a staggering $4 billion in laundered proceeds between August 2021 and January 2025, with $37 million directly linked to North Korean cyber heists.

Perhaps most alarming is the gro

up's cryptocurrency stablecoin (USDH), which FinCEN claims is deliberately designed to circumvent financial tracking and money laundering controls. The coin's unique feature? It cannot be frozen, making it a potential haven for illicit financial activities.

The National Bank of Cambodia has already revoked the company's local banking license in March, signaling international recognition of the group's dubious operations.

While Huione doesn't directly hold US correspondent accounts, they've reportedly maintained relationships with foreign firms that do – a nuanced approach that the Treasury is now moving to dismantle. The message is clear: global financial institutions are closing ranks against cryptocurrency-enabled criminal networks.

This development represents a significant moment in the ongoing battle between regulatory bodies and cryptocurrency's darker ecosystem, showcasing the US Treasury's commitment to combating digital financial crime.

US Treasury seeks to block Huione Group from US banking system

Accused of laundering $4 billion for criminal networks

$37 million linked to North Korean cyber heists

Global Governments Are Waging War Against Dollar Stablecoins

The world of cryptocurrency is witnessing a tectonic shift in stablecoin dynamics, with governments increasingly pushing back against US dollar-pegged digital currencies. Dea Markova, policy director at Fireblocks, is at the forefront of this emerging trend, describing the current landscape as "all about sovereignty"

Currently, dollar-pegged stablecoins dominate the market, with Tether and other US dollar stablecoins commanding a whopping 87.2% of the $241.8 billion total market capitalization. However, the tide is turning, as countries begin to challenge this financial hegemony.

The European Central Bank is leading the charge, ramping up pressure to develop a digital euro and expressing significant concerns about the systemic impact of dollar-linked stablecoins. The Bank of Italy has added fuel to the fire, warning that these stablecoins' reliance on US Treasury bonds could increase systemic risk vulnerabilities.

Markova draws a provocative parallel, comparing the current stablecoin landscape to previous conflicts with US payment giants like Visa and Mastercard. "We're seeing the same dynamic with stablecoins," she explains, "emerging as a new arena for sovereign concerns".

United Arab Emirates is emerging as a regulatory innovation leader. Abu Dhabi has taken a remarkably progressive approach, approving USDT as a recognized virtual asset in December 2024 and welcoming Circle's USDC in April. Even more intriguing, local institutions are collaborating to launch a regulated dirham-pegged stablecoin.

The European Union is feeling the pinch, with dollar-pegged stablecoins already experiencing "massive headaches" from central banks. Despite being compliant and regulated, these digital currencies face increasing pushback from financial authorities determined to assert their economic independence.

This global movement signals a profound shift in the cryptocurrency ecosystem. Countries are no longer content to be passive participants in a dollar-dominated financial landscape. Instead, they're actively seeking alternatives that preserve their economic sovereignty.

Governments pushing for non-dollar stablecoins

Dollar stablecoins currently control 87.2% of market

European Central Bank accelerating digital euro development

And that's a wrap, my lovely PoI readers! 🌈 I hope this edition left you feeling like a crypto insider, armed with knowledge that'll make your next tech conversation sparkle. Remember to stay curious, stay informed, and keep riding the wave of digital innovation. Until next time, this is Mochi, signing off with a virtual fist bump!

P.S. Don't forget to share your thoughts, questions, and favorite crypto puns with us. very voice matters in the PoI community! 📣❤️ Share the newsletter

🍨📰 Catch you in the next issue! 📰🍨