Wu Says Daily Selected Crypto News - Polygon lays off nearly 30%, advancing a business transformation centered on stablecoin payments

1. Polygon layoffs nearly 30%, advancing business transformation centered on stablecoin payments

Polygon recently carried out an internal layoff, reducing staff by approximately 30%, though the company has not officially confirmed this publicly. Reports indicate that the layoffs occurred amid Polygon's restructuring efforts, as the company has recently shifted its development focus to stablecoin payments and completed acquisitions of Coinme and Sequence. Meanwhile, some Polygon-related employees and ecosystem members have disclosed resignations and team changes on social media platforms. Polygon Labs has not yet responded to requests for comment.

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2. State Taxation Administration reminds residents to self-check and refile 2022–2024 offshore income

According to relevant departments of the State Taxation Administration, tax authorities continue to strengthen publicity and guidance on the taxation of residents' offshore income, reminding taxpayers since last year to self-check income earned from abroad between 2022 and 2024. According to laws and regulations such as the Tax Collection and Administration Law, if taxpayers fail to declare taxes or make calculation errors resulting in non-payment or underpayment, tax authorities can pursue back taxes and late fees within three years; if tax evasion is involved, legal action will be taken. Residents earning income from domestic and foreign sources are legally required to pay personal income tax, which is a common international practice and helps prevent cross-border tax evasion and safeguard national tax revenue. The tax authorities remind that paying taxes according to law is every citizen's obligation. If taxpayers discover they have previously failed to declare offshore income as required, they should correct their declarations promptly and legally.

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3. Belarusian President Lukashenko signs decree officially introducing “cryptobank” system

Belarusian President Lukashenko signed a decree in January 2026, officially introducing the “cryptobank” system, allowing qualified institutions to provide token-related financial services alongside traditional banking and payment operations. According to the decree, cryptobanks must be resident enterprises of the High Technology Park (HTP) and be included in the Belarusian National Bank's register of cryptobanks, while also subject to dual regulation by financial authorities and park supervision.

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4. Moldova plans to introduce cryptocurrency regulation laws in 2026

Moldovan Finance Minister Andrian Găvriliță announced that in 2026, Moldova will implement a cryptocurrency regulatory framework, including rules for holding, trading, and exchanging cryptocurrencies, fulfilling commitments as an EU candidate country. The law will prohibit the use of cryptocurrencies for payments and impose a 12% income tax on cryptocurrency trading gains (withholding tax not applied to holdings). Drawing on EU’s MiCA regulation and Romania’s experience, the draft law will be jointly prepared by the National Bank, the National Financial Market Commission, and the Anti-Money Laundering Office to strengthen anti-money laundering measures.

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5. Russian Central Bank plans to require banks to report clients' crypto transaction details

The Russian Central Bank plans to revise the rules for reporting private international transfers, requiring commercial banks to provide detailed information on clients' cryptocurrency-related transactions, including sender/receiver identities, transfer methods, intermediaries, fees, types, and sources; crypto buying/selling and digital rights/NFT transactions must be reported separately. The revision aims to reflect new economic phenomena such as income from crypto mining affecting payment balances. The Central Bank plans to pass comprehensive crypto regulation legislation before summer this year and analyze banks' exposure to crypto assets.

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