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Nasdaq-listed financial services company Siebert Financial Corp. has agreed to become the US partner of Kakao Pay Securities. The two parties plan to launch tokenized trading services for Korean stocks targeting US investors through the K-Stock Global Gateway. Kakao Pay Securities holds approximately 9 million stock accounts in South Korea. The two parties plan to explore the tokenization of Korean stocks, allowing US investors to access Korean stocks outside the normal trading hours of the Korea Exchange, and to study whether tokenized securities can support T+0 settlement. The initial tokenized trading service is targeted for launch in the first half of 2027. The two parties stated that any implementation must comply with US and South Korean regulatory requirements and investor protection standards.
U.S. District Judge Katherine Menendez for the District of Minnesota ruled on Monday that a recently enacted Minnesota state law banning prediction markets may conflict with the Commodity Exchange Act. She granted a preliminary injunction in favor of Kalshi, Polymarket, and the Commodity Futures Trading Commission (CFTC). Kalshi, Polymarket, and the CFTC had sued the state of Minnesota earlier this year after the state passed a law classifying the operation of prediction markets within the state as a criminal offense. The three parties argued that prediction market contracts are structured as "swaps" and that the state law infringes upon the CFTC's regulatory authority over such products. In her ruling, Judge Menendez stated that the parties are likely to succeed on the merits of their claim that the federal Commodity Exchange Act preempts the state law.
: New York Attorney General Letitia James submitted written testimony to the U.S. Congress, urging stronger regulation of cryptocurrency companies and warning that proposed federal legislation could undermine states' ability to investigate fraud and hold platforms accountable. Letitia James stated that the Digital Asset Market Clarity Act would preempt state-level digital asset market regulation and transfer oversight authority to the U.S. Commodity Futures Trading Commission (CFTC), thereby weakening state and local enforcement. She disclosed that the New York Attorney General’s Office has seen a threefold increase in crypto fraud complaints over the past three years, with total reported losses over the past five years approaching $500 million. She called on crypto platforms to comply with anti-money laundering, know-your-customer (KYC), and cybersecurity requirements, monitor suspicious activity and market manipulation, and be held financially responsible when they fail to protect customers from fraud.
Asset management firm Franklin Templeton announced its support for the CLARITY Act on July 27. Franklin Resources had previously disclosed that as of June 30, its assets under management totaled $1.79 trillion, up from $1.78 trillion a month earlier. Franklin Templeton stated that the CLARITY Act would establish clearer rules for digital assets, help investors understand the protections available, and increase corporate certainty regarding the division of federal regulatory responsibilities. BlackRock, Fidelity Investments, Goldman Sachs, and Charles Schwab have previously publicly supported this market structure bill. Senate Republicans released an updated version on July 22, proposing to divide the regulatory oversight of digital assets between the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).
: The world’s largest asset management company, BlackRock, has expressed support for the CLARITY Act. Samara Cohen, Senior Managing Director and Head of Global Market Development at BlackRock, stated the bill represents a significant step toward establishing an investor-first regulatory framework for digital assets. Cohen stated the bill will help shape the next phase of market structure in the US by supporting innovation while maintaining transparency, resilience, and investor protection. Fidelity, Goldman Sachs CEO David Solomon, and Charles Schwab have previously expressed support for related legislation or clearer digital asset rules. Last week, the US Senate Republicans released an updated version of the CLARITY Act, integrating work from both the Senate Banking Committee and the Agriculture Committee. Senate Majority Leader John Thune indicated that relevant Senate work could extend beyond the August recess. Crypto advocacy group Stand With Crypto stated that it has sent over 925,000 emails to Congress in 2025, exceeding 1.1 million contacts with Congress since its founding. The organization said each Senate vote on the CLARITY Act will be included in a public congressional scorecard.
Odaily Odaily News A bipartisan group of Pennsylvania state legislators has introduced HB 2711, a bill aimed at prohibiting sportsbooks and other gambling companies from acting as liquidity providers or market makers on prediction platforms. The bill was introduced by State Representative Tarik Khan on July 22 and has been referred to the House Consumer Protection, Technology, and Utilities Committee. The bill would also bar prediction platforms from contracting or sharing revenue with enterprises primarily engaged in gambling activities, with restrictions covering parent companies, subsidiaries, affiliates, joint ventures, employees, and entities acting for the financial benefit of other companies. DraftKings and Flutter have both previously advanced market-making operations; DraftKings recently launched the DKeX exchange after acquiring CFTC-registered firm Railbird Technologies. HB 2711 proposes setting a minimum participation age of 21 and requires platforms to exclude self-excluded users, company employees, employees of settlement sources, and those holding material non-public information. The bill also mandates that platforms implement commercially reasonable measures to prevent fraud, manipulation, and the misuse of material non-public information, and prohibits markets involving high school sports, sports events involving minors, personal health conditions, and death events. The proposal does not establish a licensing system, with enforcement authority vesting in the state Attorney General. A companion bill, HB 2497, would require platforms to obtain a license from the Pennsylvania Gaming Control Board and impose an aggregate 22% tax on the revenue of prediction betting platforms. Neither bill has yet received a committee vote or hearing.
Odaily Planet Daily reported that Bitcoin News posted on X platform, stating that Sen. Chris Murphy said he will vote against the CLARITY Act and claimed that President Trump is still a major participant in the crypto industry while regulating it, which is "fundamentally corrupt."
Crypto.com Custody has announced it will provide institutional-grade custody and liquidity services for XYO and XL1. This marks the first listing on a major trading platform for XL1 following its token sale, allowing qualified institutions and high-net-worth clients to store, manage, and exchange both tokens through a regulated pathway. Related assets will be held in client-segregated MPC wallets and held by bankruptcy-remote entities. Private keys are protected by multi-party computation running within a trusted execution environment. Clients have access to cold storage, audit trails, and Crypto.com’s institutional liquidity services. Eric Anziani, President and Chief Operating Officer of Crypto.com, stated that digital asset organizations require custody solutions that offer both security and liquidity. Markus Levin, co-founder of XYO, noted that after XYO was initially listed on the Crypto.com trading platform, the relationship between the two parties has continued to expand. In July 2026, Citadel Securities invested $400 million in Crypto.com at a valuation of $20 billion. In February 2026, the U.S. Office of the Comptroller of the Currency (OCC) conditionally approved Crypto.com to establish Crypto.com National Trust Bank.
Odaily reports: After perpetual futures entered the regulated US market, Wall Street institutions are still taking a wait-and-see approach. Bank of America estimates that the global annual trading volume of perpetual futures is approximately 90 trillion USD; within a week of Kalshi launching perpetual futures in June, trading volume exceeded 1 billion USD. Perpetual futures are similar to standard futures but have no expiration date, meaning traders do not need to close or roll over positions monthly or quarterly. Instead, periodic funding rates keep the contract price close to the underlying asset. On May 29, the US Commodity Futures Trading Commission (CFTC) approved Kalshi to offer such contracts, and Coinbase also received approval to list regulated perpetual futures in the US. Insiders say that large financial institutions are still studying these products, with proprietary trading firms, market makers, and emerging clearing firms likely to be the first to participate. Large banks face stricter capital rules, client obligations, and reputational risks, and typically wait for years of data, clear regulatory treatment, and stable infrastructure. Perpetual futures may also be used to manage weekend risk, but market depth remains a concern. Industry insiders note that regulatory disagreements are emerging over whether certain contracts should be classified as futures or swaps, and CME has already challenged the CFTC's handling of Kalshi's Bitcoin perpetual contract.
according to data from the Korea Exchange, the combined daily trading volume of 16 single-stock leveraged and inverse ETFs tracking Samsung Electronics and SK Hynix fell below the 10 trillion won mark this Monday (July 27), dropping to 7.46 trillion won. This represents a 27% decrease from the previous trading day and a more than 30% decline compared to the average daily trading volume of the previous week. Their share of the total trading volume in the Korean ETF market also fell to 36.9%. Among these, products related to SK Hynix still dominated trading, accounting for approximately 70% of the total trading volume of all single-stock leveraged and inverse ETFs.Market analysts believe the cooling of trading is mainly due to new regulations from South Korea's financial authorities. Starting July 31, individual investors in South Korea who newly purchase or increase holdings of single-stock leveraged ETFs/ETNs must maintain a cash-based margin of at least 30 million won. Additionally, regulators plan to raise the minimum trading unit to further curb high-frequency short-term trading. (Duam)
sports merchandise and betting platform Fanatics will acquire a federally regulated exchange and clearing house from BGC to launch and settle its own prediction market operations. Fanatics and BGC also plan to develop new market data products that combine prediction market activity with traditional financial market data. This deal enables Fanatics to enter the prediction market space, competing directly with platforms such as Kalshi and Polymarket.
: Hong Kong-based digital asset services company HashKey Holdings has merged HashKey Exchange and HashKey Global into a single platform and application, serving users across Hong Kong, global markets, Singapore, and the Middle East. HashKey stated that its core jurisdictional hubs, including Hong Kong, Singapore, Dubai (Middle East), and Bermuda, have been integrated into the same platform. Users download the same application, and the platform manages local compliance requirements based on the user's region.
The spokesperson for China's Ministry of Commerce responded to the US side's claim that it would investigate Chinese AI companies for "distilling" US frontier models and potentially impose sanctions, stating that this move lacks factual and legal basis and is a typical act of AI hegemony.
Tether announced that its gold-backed digital asset XAU₮ has received Sharia compliance certification from Amanah Advisors, an institution led by Mufti Faraz Adam. The certification confirms that XAU₮ adheres to the core principles of Islamic finance. XAU₮ is issued by TG Commodities, S.A. de C.V., with each full token representing direct ownership of physical gold stored in Swiss vaults. Certification requirements include genuine ownership of physical gold, clear and verifiable asset backing, no interest (riba), no leverage or speculative derivatives, and transparent reserve structures. Tether stated that XAU₮ can be used for integrating digital gold products into Islamic banking, takaful and halal savings products, long-term wealth preservation strategies, as well as tokenized trade finance and collateral applications. Amanah Advisors will continue to work with Tether to develop practical guidelines and governance frameworks to support the adoption of XAU₮ in a Sharia-compliant manner.
the European Securities and Markets Authority (ESMA) updated the provisional MiCA registry on Friday, adding 15 licensed crypto asset service providers (CASPs), bringing the total number to 309. The newly added institutions include BNY SA/NV, the Belgian subsidiary of US banking giant BNY Mellon. This latest batch includes four banking institutions, three of which are from Germany, alongside digital asset platforms such as BitPay, Coinify, and Bleap. Germany and Denmark each added three CASPs, Bulgaria and Latvia each added two, while Belgium, Cyprus, Liechtenstein, and the Netherlands each added one. ESMA stated that this update did not alter other MiCA-related registries, including those for asset-referenced tokens (ARTs), e-money tokens (EMTs), authorized issuers of crypto assets, and the list of non-compliant entities. Following the previous transitional deadline on July 1, ESMA’s second update had added 14 CASPs, including Ripple Payments Europe.
According to the latest seasonal research report from Bank of America Securities, since 1928, the rolling three-month window from August to October has typically been the weakest period for the S&P 500, with a probability of gain of only 55%, an average return of -0.02%, and an average drawdown of 7.35%, the largest among all rolling three-month cycles.The report indicates that over the next three months, the market may lean towards a defensive allocation, with the U.S. dollar, gold, and U.S. Treasury bonds historically outperforming equities. Since 1992, gold has had a 61% probability of rising from August to October, with an average gain of 2.52%. The U.S. dollar tends to strengthen in August against currencies such as the British pound and the Australian dollar. However, BofA emphasizes that seasonal patterns do not necessarily mean U.S. stocks will decline, and long-term market trends will still depend on factors such as corporate earnings, monetary policy, the economic cycle, and valuations. (Jinshi)
According to Bitcoin.com, U.S. Senator Cynthia Lummis is pushing hard for the CLARITY Act to complete Senate voting before Congress adjourns. Section 303 of the bill grants the Treasury Department the authority to impose targeted digital asset sanctions on foreign jurisdictions, while Section 305 allows exchanges to freeze suspicious transactions for up to 180 days. On-chain data shows that North Korea's Lazarus Group stole approximately $643 million in the first half of 2026, accounting for two-thirds of the total global crypto theft during the same period ($972 million), including a $285 million attack on Drift Protocol in April and a $292 million attack on the KelpDAO cross-chain bridge. The group's cumulative theft amount has reached $6.75 billion since 2019. Currently, Galaxy Research has lowered the probability of the CLARITY Act passing within 2026 to 30%. The bill still requires 60 votes to advance, meaning at least 7 Democratic senators need to vote across party lines in support.
核心分歧在于伦理条款力度：民主党希望条款能实质约束特朗普去年逾 14 亿美元的加密收益，而白 House 已同意的现行版本仅要求特朗普在一年内完成资产剥离或设立盲信托，且由司法部负责执法——民主党对此并不信任。
According to CoinDesk, the new draft of the CLARITY Act has been officially released. This draft merges the two versions from the Senate Banking Committee and the Agriculture Committee and includes ethics provisions for the first time. Voting procedures are expected to commence this Monday or Tuesday, with the formal vote potentially taking place as early as the week of August 3.
According to Korean media Asiae, six top Silicon Valley VC firms, including Sequoia Capital, a16z, Khosla Ventures, Lightspeed Venture Partners, General Catalyst, and NEA, announced the signing of a strategic investment cooperation memorandum of understanding (MOU) with the South Korean National Pension Service (NPS), planning to jointly explore investment opportunities, share investment information, and strengthen their global venture capital layout. Additionally, with the South Korean government accelerating policies to attract overseas venture capital, coupled with the launch of the 200 trillion won "National Growth Fund," the market expects the Korean venture capital sector to see simultaneous inflows of policy funds, private capital, and overseas capital, with strategic industries such as AI and semiconductors expected to receive more investment. However, industry insiders warn that if a large amount of capital concentrates on a few popular enterprises, it may push up corporate valuations and create bubbles, potentially facing valuation correction pressure during future IPO and M&A exits, affecting fund return rates.