News linked to this event type.
HM Revenue and Customs issued a policy paper proposing that, effective from April 6, 2027, a "no gain no loss" treatment will apply to certain cryptoasset loans and liquidity pool arrangements participated in by individuals and trusts, deferring Capital Gains Tax until an economic disposal occurs.
: White House Crypto Council Executive Director Patrick Witt will conclude his final working day at the White House on July 18. He will begin attending the Georgia Army National Guard Judge Advocate Officer training on July 27. Witt was previously responsible for negotiations on the CLARITY Act, which is expected to face a full Senate vote around July 20. Deputy Director Harry Jung will take over the relevant negotiations and will also lead efforts on the Strategic Bitcoin Reserve and the GENIUS Act. The consolidated draft of the CLARITY Act is expected to be released this week. The bill needs 60 votes to pass the filibuster threshold, requiring at least seven Democratic supporters. Democrats are demanding the inclusion of ethics clauses regarding the president's personal crypto asset exposure. Disclosure information shows that Trump earned over $1.4 billion from crypto-related businesses last year. (Bitcoin.com News)
The Malaysian Ministry of Home Affairs stated that it is investigating the "Network School" tech commune founded by former Coinbase Chief Technology Officer Balaji Srinivasan. The project is located in Forest City, Johor, where earlier social media allegations claimed that the commune hosted Israeli individuals who entered the country holding non-Israeli passports.
Gate's June 2026 transparency report shows the platform is continuously improving its global stock investment service system. It has built a 7×24 trading network covering the three major markets of US stocks, Hong Kong stocks, and Korean stocks, supporting users in investing in global stocks with a one-stop solution using USDT through a unified account. The platform also offers services such as a minimum investment of 0.01 shares, stock dividends, cross-broker transfer, and stock splits/consolidations. Concurrently, Gate has launched a Direct IPO product and its first project, SpaceX (SPCX), forming a complete investment chain covering Pre-IPOs, Direct IPOs, and secondary stock market trading, further expanding global asset allocation capabilities. Additionally, the platform has officially introduced Gate Wealth, integrating digital assets, stocks, ETFs, foreign exchange, commodities, and primary market investment opportunities, providing users with a more diverse selection for global asset allocation.Alongside building a one-stop comprehensive financial service platform, Gate is also strengthening its security, transparency, and global compliance efforts. According to the latest reserve data, as of June 22, Gate's total reserve size reached $8.182 billion, with an overall reserve ratio of 115%, covering nearly 500 types of user assets. This reserve level is higher than industry security benchmarks. Gate is accelerating its global compliance layout, with several of its entities having completed relevant regulatory registrations, filed for licenses, or obtained authorization and approval in jurisdictions such as Malta, the Bahamas, Japan, the United States, Australia, and Dubai. By securing multi-jurisdictional regulatory permits and registrations, it solidifies its global business foundation. Looking ahead, Gate will continue to deepen the integration of traditional finance with digital assets. Under the premise of safety and compliance, it will enhance its service systems for trading, investment, wealth management, and payments, accelerating the construction of a comprehensive financial services ecosystem covering global markets.
According to an announcement from the U.S. Attorney's Office for the Central District of California, former Los Angeles County Sheriff's Department (LASD) deputy Scott Allen Simpkins (34 years old) was sentenced by a federal court on July 13 to 18 months imprisonment and fined $10,000 for obstructing a judicial investigation. Simpkins was previously employed by a private security company under businessman Adam Iza, who claims to be the "godfather" of cryptocurrency. In August 2021, he witnessed Iza threaten party planner R.C. with bullets at his Bel Air mansion, forcing him to transfer $25,000. During the federal investigation in November 2024, Simpkins lied multiple times to the FBI and federal prosecutors, falsely claiming he did not witness the ammunition and financial transactions, thereby interfering with the criminal investigation into Iza. Iza has currently pleaded guilty to multiple federal charges, including conspiracy to violate rights, wire fraud, tax evasion, and suspected kidnapping and robbery involving Bitcoin, among others, and is awaiting sentencing. This case was jointly investigated by the FBI and the IRS Criminal Investigation Division.
According to Crypto in America, White House Chief Crypto Advisor Patrick Witt will depart for the Georgia Army National Guard to participate in JAG (Judge Advocate General) training starting July 27, and is expected to conclude his work at the White House by next Friday. The timing of this departure is sensitive, coinciding with Senate Republicans accelerating the crypto market structure legislation, the CLARITY Act, striving to complete legislation before Congress's August recess; otherwise, this session of Congress may miss the window for passage. Witt had previously postponed the training originally scheduled to start in April to continue leading the CLARITY Act negotiations, including coordinating core controversies such as stablecoin yields, ethics clauses, and law enforcement agency concerns, but a second postponement is no longer possible. During his absence, Deputy Director Harry Jung will take over related responsibilities. Witt previously also led important policy issues such as the implementation of the strategic Bitcoin reserve and the enactment of the GENIUS Act; whether he will return after the training ends remains unclear.
Odaily News: The Federal Law Enforcement Officers Association stated on July 10 that it has submitted a letter to the U.S. Senate Banking Committee supporting the CLARITY Act, while calling for amendments to strengthen decentralized finance (DeFi) accountability and preserve investigators' existing powers. This bill has previously received support from the National Organization of Black Law Enforcement Executives, marking the second endorsement from a major U.S. law enforcement organization. (Cointelegraph).
Cumberland, a crypto trading and liquidity service provider, announced on X that its Singapore subsidiary, Cumberland SG Pte. Ltd., has obtained a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS). This license authorizes the company to provide Digital Payment Token (DPT) services and cross-border money transfer services.
According to The Block, Mizuho Bank analysts noted that while Circle's approval from the U.S. Office of the Comptroller of the Currency (OCC) to establish a national trust bank helps enhance its compliance credibility, it is insufficient to resolve current core pressures—the continued shrinkage of USDC market cap and increasingly fierce competition from Open USD—which still constitute a significant drag on $CRCL stock price.
According to Decrypt, New Hampshire Governor Kelly Ayotte signed HB 639, the "Blockchain Foundation Act," last week, providing comprehensive legal protection for blockchain developers, miners, validators, and crypto users, and allowing for the establishment of a specialized blockchain dispute tribunal within the Superior Court. Keith Ammon, a state representative and the bill's primary sponsor, stated that this move aims to protect the fundamental rights of individuals to control digital assets through self-custody and to provide a clear legal framework for next-generation fintech enterprises, attracting entrepreneurs, investors, and developers to the state. Previously, New Hampshire became the first state in the U.S. to pass a strategic Bitcoin reserve bill in May 2025, allowing the state treasury to invest up to 5% of public funds in Bitcoin and precious metal assets such as gold and silver.
New Hampshire Governor Kelly Ayotte signed HB 639 into law last week. Known as The Blockchain Basic Laws, the bill provides protections for cryptocurrency innovation and usage within the state and allows for the establishment of a special blockchain dispute docket in the superior court. Last year, New Hampshire passed a strategic Bitcoin reserve bill, allowing the state treasurer to invest up to 5% of public funds in Bitcoin, as well as precious metals such as gold and silver. Additionally, the state's Executive Council last week rejected a proposal that would have allowed the New Hampshire Business Finance Authority to promote Bitcoin-backed municipal bonds. (Decrypt)
Odaily Planet Daily reported that Federal Reserve Governor Christopher Waller said he prefers to set the inflation target as a range rather than the current single-point target of 2%. Personally, he would lean towards a target range of 1.5% to 2.5%. He stated that requiring central banks to precisely control inflation to a specific figure is unrealistic, and using a single-point target to judge the success or failure of monetary policy can sometimes be too harsh. Adopting a target range may better reflect actual economic conditions.
Democrats are focusing on the crypto wealth recently disclosed by President Donald Trump and are discussing arrangements within the cryptocurrency CLEAR Act to prohibit conflicts of interest for government officials. A new draft of the bill is expected to be released in the coming days. Time is running short for the Senate to advance this cryptocurrency legislation, but negotiations on the ethics clause have yet to reach an agreement. Trump has expressed a desire for the CLEAR Act to be signed, although he recently urged Congress to prioritize advancing his voting rights bill. (CoinDesk).
crypto journalist Eleanor Terrett posted on X, stating that White House Crypto Council Executive Director Patrick Witt said this week will be a "critical week" in the advancement of the US CLARITY Act. As the crypto industry prepares to mark the one-year anniversary of the GENIUS Act becoming law, the construction of the US digital asset regulatory framework has once again become a market focal point.Patrick Witt stated that US crypto policy is currently at an important stage, and the progress of the CLARITY Act will significantly impact the structure of the digital asset market, the division of regulatory responsibilities, and the future direction of the industry.Previously, the CLARITY Act was considered one of the key pieces of legislation for establishing comprehensive crypto market regulations in the US, aiming to clarify digital asset classification, regulatory authority, and compliance requirements for market participants.Market participants believe that substantial progress on the bill could further enhance regulatory certainty for the US crypto industry and influence the future strategies of exchanges, stablecoin issuers, and blockchain enterprises.
据 CoinDesk 报道，玻利维亚政府正评估将泰达币（USDT）纳入国家支付系统，探索其与玻利维亚诺及美元并行流通的可行性。相关方案仍处于技术审查阶段，尚未公布具体实施规则，也未赋予 USDT 法定货币地位。
crypto journalist Eleanor Terrett posted on X, saying that Trump stated the Senate should pass the CLARITY Act in memory of Senator Lindsey Graham, calling the late South Carolina Republican a key supporter of the bill.
As the tokenization of capital markets intensifies, the Securities Transfer Association (STA) recently submitted a comment letter to the U.S. Securities and Exchange Commission (SEC), warning that stock tokens issued by third-party entities could undermine market integrity. The association is calling on regulators to prioritize tokenized securities authorized by listed companies in future rulemaking.The STA represents numerous Wall Street transfer agents, whose members argue that genuine tokenized stocks should be formally authorized by the issuing company and recorded on the official shareholder register, rather than consisting of "wrapped" token products created by independent platforms.The association points out that third-party stock tokens could confuse investors regarding their actual holdings and expose them to platform credit, custody, and operational risks, without establishing a direct legal relationship with the listed company. Therefore, any innovation exemptions, pilot programs, or permanent regulatory frameworks for tokenized securities should be prioritized for the issuer-supported model. The STA also urges the SEC to reform the existing Direct Registration System (DRS), arguing that the current U.S. securities depository system struggles to meet the real-time transfer and settlement demands of on-chain securities. It recommends that regulators collaborate with the Depository Trust & Clearing Corporation (DTCC) to optimize the digital securities infrastructure.Currently, the global tokenized stock market, valued at approximately $2 billion, is predominantly led by the third-party model, including products launched by Ondo Finance and Kraken, while institutions like Securitize and Figure adopt the issuer-authorized model. (CoinDesk)
: Industry insiders indicate that after the US Senate reconvenes, it will enter a critical window of approximately four weeks, determining whether the Clarity Act can pass this year. The bill needs to complete the finalized text, Senate debate, and voting before the August recess, and secure at least 60 votes of support in the Senate. Current negotiation focuses include whether to retain the exemption clause for non-custodial developers within the "Blockchain Regulatory Certainty Act," and establishing an "ethics framework" for official conflicts of interest regarding President Trump's cryptocurrency business interests. Meanwhile, the passing of Senator Lindsey Graham and the absence of Mitch McConnell have weakened Republican voting power, increasing the importance of securing support from Democratic senators.
Odaily Bitcoin has been declining since October last year, with its current price hovering around half of its all-time high of $126,000, indicating the market remains in a deep bear phase. Multiple industry analysts believe the current pressure on Bitcoin stems primarily from three factors: the four-year cycle, macroeconomic inflationary pressures, and market leverage liquidations.Matt Hougan, Chief Investment Officer at Bitwise, stated that Bitcoin's long-standing "four-year cycle" continues to influence investor psychology. Historically, Bitcoin typically undergoes approximately three years of an upward cycle followed by a one-year correction period. Investors have developed cyclical expectations and began reducing some long-term holdings towards the end of 2025.Additionally, the macroeconomic environment is a significant drag on Bitcoin. Zach Pandl, Head of Research at Grayscale, pointed out that rising inflationary pressures in the US have weakened market expectations for interest rate cuts. Investors are shifting towards higher-yielding traditional assets, leading to capital outflows from risk assets, including cryptocurrencies. The short-term bottom is estimated to be around $58,000, with future trends still influenced by interest rate policies, corporate Bitcoin buying behavior, and progress in US crypto regulatory legislation.Excessive market leverage has also exacerbated this correction. As a large number of investors expanded their Bitcoin exposure through borrowing and financing during the bull market, derivatives open interest has declined as the market weakened. Digital asset treasury companies have also come under pressure. Strategy's stock price has fallen approximately 75% since October last year, and its previously promoted model of corporate Bitcoin accumulation is facing renewed market scrutiny.However, some analysts remain optimistic about Bitcoin's prospects. Adrian Fritz, Chief Investment Strategist at 21Shares, predicts that Bitcoin may bottom out this summer, rebound after interest rates shift towards easing and geopolitical conflicts ease, with a year-end price target of $100,000. (Fortune)
Odaily Planet Daily reports that financial market infrastructure giant, the Depository Trust & Clearing Corporation (DTCC), plans to demonstrate a real-time stock trading process based on blockchain technology this Wednesday. The technology is said to simplify the clearing, settlement, and record-keeping processes behind Wall Street stock trades, thereby improving the operational efficiency of capital markets. This test is seen as an important step for the traditional financial system in exploring on-chain securities infrastructure.However, the initial scale of the project remains relatively limited. After years of research and development, this demonstration by the Depository Trust & Clearing Corporation, one of the largest securities clearing institutions in the United States, is more of a validation exercise rather than a full-scale push to move the stock market onto the blockchain.Market participants believe that although tokenized securities and on-chain settlement are considered to have the potential to reduce costs and improve trading efficiency, the migration of traditional financial infrastructure to blockchain still faces challenges such as regulation, compliance, system compatibility, and coordination among market participants.This test marks Wall Street's gradual transition from the proof-of-concept stage to practical application and will serve as an important case study for observing whether institutional-grade blockchain infrastructure can achieve large-scale adoption. (The Information)