News linked to this event type.
Odaily Planet Daily reported that the "People's Republic of China People's Bank of China Law (Revised Draft)" was submitted for the first deliberation at the 23rd session of the Standing Committee of the 14th National People's Congress on June 23, 2026. For the first time, "clarifying the legal status of digital RMB" has been written into the revised draft.The report states that a 2020 draft for public comment merely proposed that "RMB includes both physical and digital forms." This revision further elevates the legal positioning of digital RMB.Additionally, the 2020 draft for public comment also stipulated that no unit or individual may produce or issue token vouchers or digital tokens to circulate in place of RMB. For related violations, the People's Bank of China has the authority to order a halt, destroy illegally produced or issued token vouchers and digital tokens, confiscate illegal gains, and impose a fine of up to five times the illegal amount. (Caixin)
Chainlink announced the launch of the Pangea project in collaboration with FairSquareLab, UniKA, and the euro stablecoin alliance Qivalis, aimed at exploring real-time cross-border foreign exchange settlement models based on stablecoins.According to reports, UniKA's steering committee includes Shinhan Bank, JB Bank, Kbank, FairSquareLab, and OBDIA, with participation from over a dozen Korean commercial banks; Qivalis is supported by 37 leading European banks. Collectively, these institutions represent over $10 trillion in assets under management.The Pangea project will leverage Chainlink's data, interoperability, and orchestration standards, along with FairSquareLab's on-chain FX settlement technology, to enable direct atomic transactions between compliant fiat-pegged digital assets, including the Euro and Korean Won. It aims to drive the transition of the foreign exchange market from traditional T+2 settlement to a T+0 real-time settlement model.
Fox Business crypto journalist posted on X platform, stating that four law enforcement organizations, in a letter to government officials, expressed continued concerns over certain provisions of the Clarity Act, including Section 604, the "Blockchain Regulatory Certainty Act," arguing that these provisions would create regulatory and accountability gaps, hindering investigations and prosecutions of illegal activities. The organizations also believed that the bill fails to adequately establish safeguards commonly used by traditional financial institutions and may exempt some crypto participants from certain KYC/AML reporting requirements. In the weeks prior, these organizations, the government, Congress, and the crypto industry held meetings to address the bill's wording, with a key focus on BRCA. BRCA has become a central point of disagreement in the negotiations to push the Clarity Act forward to Senate deliberation. GLFOP and NAPOpolice were both deeply involved in the relevant discussions but did not sign the letter.
Odaily, U.S. Senate Democrats have sent a letter to Republican leadership demanding an immediate hearing regarding the potential relationship between the Trump family's crypto project, World Liberty Financial, and the Abu Dhabi royal family.This follows a report by the Wall Street Journal that an investment entity backed by Sheikh Tahnoon bin Zayed Al Nahyan, a member of the Abu Dhabi royal family, secretly acquired a 49% stake in World Liberty Financial. The project is a DeFi and stablecoin venture, with Donald Trump and his three sons listed as advisors.According to the report, the deal was signed by Eric Trump four days before Trump's presidential inauguration in January 2025. The transaction was valued at $500 million, half of which was paid upfront. Approximately $187 million flowed to entities controlled by the Trump family, while at least $31 million went to entities linked to the family of World Liberty co-founder Steve Witkoff. Witkoff was later appointed as the U.S. Special Envoy for the Middle East, and his son, Zach Witkoff, currently serves as CEO of World Liberty.The Trump side has stated that Trump was unaware of the $500 million investment and was not directly involved in the daily operations of World Liberty Financial. Democrats argue that the matter involves potential conflicts of interest between the president's family business interests, foreign capital, and government diplomatic roles, and have therefore called on the Republican-led Senate to launch an investigation as soon as possible.
US President Trump signed two executive orders on Monday aimed at accelerating the nation's quantum computing capabilities and advancing the migration of government systems to post-quantum cryptography. While the orders do not directly mention Bitcoin, industry insiders believe this could benefit blockchain post-quantum security research and development.The two executive orders focus on defending against advanced cryptographic attacks and driving the frontier of quantum innovation. This includes a clear timeline: advancing quantum sensor construction by September 2028, and requiring federal high-value assets and high-impact systems to complete their post-quantum cryptography migration by the end of 2031.Alex Pruden, CEO of Project Eleven, stated that this means the US government will allocate funds and time to achieve post-quantum security goals. It may also extend these requirements to the entire federal contractor system, not just government agencies, thereby accelerating the practical application of post-quantum cryptographic technology.This policy comes amid growing attention within the blockchain industry to quantum threats. The Ethereum Foundation, Solana Foundation, and others have already begun advancing post-quantum security R&D, while the Bitcoin community is also discussing potential risks. Some Bitcoin held in publicly exposed addresses is considered vulnerable to private key derivation attacks once sufficiently powerful quantum computers emerge.Pruden noted that this executive order sets a clear deadline of 2031 for the adoption of post-quantum cryptography, which is more enforceable than the previous US government guidance which only proposed phasing out traditional cryptographic systems by 2035. For Bitcoin and the broader crypto industry, government-level investment in post-quantum security could accelerate the maturation of related tools, standards, and migration pathways.
the U.S. CFTC on Tuesday sued Kentucky, attempting to prevent the state from regulating prediction market platforms as illegal sports betting and gambling operations, further establishing federal jurisdiction over prediction markets.Previously, Kentucky had last week sued platforms including Kalshi and Polymarket, accusing them of operating unlicensed illegal sports betting and gambling businesses within the state.In its complaint filed with the U.S. District Court for the Eastern District of Kentucky, the CFTC stated that Kentucky’s attempt to shut down federally regulated designated contract markets interferes with the federal regulatory system established by Congress for the national swaps market. The agency claims "exclusive jurisdiction" over event contracts and prediction market products.Kentucky has become the ninth state that the CFTC has sued in the prediction market regulatory dispute, indicating that the conflict between federal derivatives regulation and state-level gambling oversight continues to escalate.
Nearly 100 Catholic leaders representing church groups across the United States have sent a letter to Senate Majority Leader John Thune and Democratic Leader Chuck Schumer, opposing certain provisions of the cryptocurrency market structure bill, the "Clarity Act," currently under discussion. They argue that it could weaken regulatory capabilities to combat illegal financial activities related to human trafficking.The Alliance to End Human Trafficking, supported by Catholic organizations, stated that a specific clause in the bill could make it more difficult for regulators to oversee illicit financial flows linked to human trafficking and other crimes.The letter states that the Catholic Church has long advocated that economic systems and markets should ultimately serve people, especially the poor, the vulnerable, and those most susceptible to exploitation. The organization stated that while it recognizes the potential of emerging financial technologies and supports responsible innovation, innovation should not come at the expense of human dignity and public accountability.
Rob Hocking, Head of Global Derivatives at the Chicago Board Options Exchange (CBOE), stated that the exchange is exploring the conversion of Bitcoin and Ethereum continuous futures into perpetual futures.Previously, the U.S. Commodity Futures Trading Commission had approved cryptocurrency perpetual futures for the prediction market Kalshi, opening a regulatory pathway for other registered U.S. exchanges to offer similar products. Rob Hocking did not provide a timeline for the potential conversion. (cointelegraph)
According to CoinDesk, blockchain infrastructure company Chainlink has announced its participation in Project Pangea—a consortium formed by Qivalis, a European stablecoin consortium backed by 37 European banks, and UniKA, the Korean banking alliance representing over 10 commercial banks—collectively managing assets exceeding $10 trillion. The project targets the economic corridor between Europe and Korea, which sees annual trade exceeding $15 billion, aiming to reduce foreign exchange settlement cycles from the traditional T+2 (48 hours) to T+0 (near real-time) using regulated euro- and won-pegged stablecoins, and employing atomic PvP (payment-versus-payment) settlement to mitigate counterparty risk. Chainlink will serve as middleware, translating legacy SWIFT instructions into instant atomic swaps on-chain—without requiring banks to replace their existing payment infrastructure. The project aims to achieve live, compliant transactions within 12 months.
According to Decrypt, Thailand’s Department of Special Investigation (DSI) has expanded its probe into a “gray Chinese capital” network allegedly laundering proceeds from phone scams and online gambling through illicit cryptocurrency mining—amounting to over THB 30 billion (approximately USD 300 million) annually. Authorities have seized 6,390 mining rigs and uncovered electricity theft losses totaling THB 953 million (approximately USD 29 million). Arrest warrants have been issued for four Chinese financiers and four individuals of Myanmar nationality. The U.S. Secret Service has seized over USD 17.8 million in cryptocurrency assets linked to key suspect Wang Yicheng, who is accused of involvement in “pig-butcher” scam operations. Additionally, the investigation implicates several Thai electricity utility officials and law enforcement personnel; the case has now been referred to Thailand’s National Anti-Corruption Commission for further handling.
The Ethereum Foundation (EF) officially announced on June 23 the completion of an internal reorganization that had been underway for several months, aimed at implementing its mission statement and financial management policies. As a result of the reorganization, EF laid off 54 employees—approximately 20% of its total workforce. The Foundation stated that departing employees will continue contributing to the Ethereum ecosystem in other capacities over the coming weeks.
Odaily Odaily News, the Hong Kong District Court today sentenced a cross-border money laundering case. A 34-year-old mainland Chinese woman was convicted of four counts of money laundering and sentenced to 47.5 months in prison for opening multiple shell accounts at a local digital bank to assist a cross-border criminal syndicate in laundering criminal proceeds, and for purchasing cryptocurrencies at a virtual asset exchange shop to conceal the source and destination of the funds.Investigations revealed that the woman laundered approximately 9.29 million Hong Kong dollars in suspected criminal proceeds between August and September 2024. Furthermore, between June and September 2024, this cross-border money laundering syndicate used 43 local bank accounts to receive proceeds from 34 fraud cases, involving approximately 18 million Hong Kong dollars. It is suspected that they used local bank accounts for cryptocurrency transactions, laundering up to 230 million Hong Kong dollars in suspected criminal proceeds. (hk01)
According to HK01, Hong Kong police have cracked a cross-border money laundering case. The involved syndicate used 43 Hong Kong bank accounts between June and September 2024 to process funds obtained from 34 fraud cases, totaling approximately HK$18 million. Police also suspect that the syndicate laundered up to HK$230 million in criminal proceeds through bank accounts via cryptocurrency transactions. Police investigations revealed that a 34-year-old Mainland Chinese woman allegedly traveled to Hong Kong to open multiple nominee bank accounts to assist the criminal syndicate in laundering about HK$9.29 million in illicit gains. She further purchased cryptocurrencies through virtual asset exchange shops to conceal the source and flow of funds. The woman was sentenced to 47.5 months’ imprisonment. Hong Kong police warn that assisting criminal syndicates in handling funds carries a maximum penalty of 10 years’ imprisonment, while convictions for money laundering carry a maximum fine of HK$5 million and up to 14 years’ imprisonment.
According to CoinDesk, Tanya Denisova, former Chief Operating Officer of Robinhood Crypto, has officially joined stablecoin infrastructure company Agora as Head of Operations. She will also serve as Chief Operating Officer of Agora’s proposed national trust bank—a role that will take effect upon approval by the U.S. Office of the Comptroller of the Currency (OCC) of Agora’s application for a national trust charter. Denisova spent six years at Robinhood Crypto, leading the department’s expansion from a team of three to a multi-billion-dollar business operating regulated entities in both the United States and the European Union. Her responsibilities spanned core areas including settlement, liquidity, trading, execution quality, and custody.
Odaily Planet Daily reported that Bitget has announced a partnership with U.S. licensed broker Atomic Vaults (AVS). AVS will provide the underlying support for Bitget's recently launched direct U.S. stock connection service, "Bitget Stocks." AVS is a broker-dealer registered with the U.S. SEC and a member of FINRA and SIPC, with a monthly notional trading volume exceeding $20 billion, offering institutional-grade trading infrastructure and compliant access to the U.S. stock market.It is understood that Bitget's U.S. stock business now operates on a dual-track model. On one hand, it provides stock token (rToken) trading through the compliant RWA protocol Reality; on the other hand, it offers direct real stock trading through AVS.
former Bank for International Settlements Governor Agustín Carstens stated at the Point Zero Forum that stablecoins can promote financial innovation and inclusion while reducing costs.He pointed out that efforts should be made to create conditions for the coexistence of fiat currencies and stablecoins. If the goal is to establish a global system where stablecoins interact with global currencies, this must be a collaborative global effort. Better regulation and a level playing field for issuers could help stablecoins thrive in a dramatic way. (cointelegraph)
Odaily, the decentralized cross-chain liquidity protocol THORChain has resumed trading after being down for over five weeks following a May attack. Signing, swapping, liquidity provider operations, and redemptions have all been restored.On May 15, blockchain investigator ZachXBT and security firm PeckShield identified that the protocol had likely been exploited, prompting THORChain to halt trading. The vulnerability resulted in a loss of approximately $10.7 million from one of its six Asgard vaults, while the other five vaults were unaffected.THORChain stated that each vault has now been verified, and every key share has been cross-checked. Native Monero swaps are currently undergoing end-to-end testing and will be launched subsequently. (The Block)
According to PYMNTS, on June 22, the U.S. Office of the Comptroller of the Currency (OCC) issued a proposed rulemaking requiring payment stablecoin issuers (PPSIs) under its supervision to comply with provisions of the Bank Secrecy Act (BSA) and the GENIUS Act, and mandating that they implement anti-money laundering/combating the financing of terrorism (AML/CFT) programs, sanctions programs, and reporting requirements administered by the Financial Crimes Enforcement Network (FinCEN) and the Office of Foreign Assets Control (OFAC). The rule would also establish an OCC supervisory and enforcement framework for PPSIs’ AML/CFT obligations and clarify coordination mechanisms between the OCC and FinCEN in enforcement actions. Previously, the OCC had jointly sought public comment with the Federal Reserve, the Federal Deposit Insurance Corporation (FDIC), and the National Credit Union Administration (NCUA) regarding requirements for stablecoin issuers to establish customer identification programs.
Odaily Odaily News BIT (formerly Matrixport) has officially launched its Margin Trading feature and will open public beta on June 26. BIT is the first platform in the crypto industry to offer a margin function. Users can now submit margin applications through the official website or APP. BIT will review applications based on account status and risk management requirements and gradually open margin limits.In addition, features such as securities lending are also in preparation and will be gradually rolled out in accordance with regulatory requirements and product progress.During the public beta, BIT is simultaneously launching the "First Margin Borrow · Limited-Time Zero Interest" and "Interest Cashback Rewards" campaigns. Users who utilize margin for the first time during the event period will enjoy 0% interest on their first loan for 30 days, allowing users to experience the capital efficiency of leverage with zero interest.Elio Cui, Head of the Brokerage Business, stated: “BIT is the first to offer margin functionality, completing the client journey from account opening and trading to capital leverage. This allows BIT clients to enhance investment efficiency and gain early access to the world’s most wealth-generating assets without relying on bank cards or leaving the digital asset ecosystem.”BIT also reminds users that while margin trading improves capital efficiency, it also carries corresponding risks. Users should fully understand the margin rules and risk control mechanisms and participate prudently based on their own risk tolerance.
According to BusinessMirror, columnist John Mangun wrote that the European Commission’s recent proposal for the first “comprehensive third-country crypto-asset services ban” against Russia reveals an underlying logic: wealthy blocs of nations can impose their policies extraterritorially on any country connected to their financial systems—a development with profound warning implications for developing countries like the Philippines. Remittances account for approximately 9% of the Philippines’ GDP, and the share channeled through crypto continues to rise. While the central bank has established a regulatory framework for virtual asset service providers (VASPs), its regulatory authority stops at the national border. Citing the Philippines’ 2021 placement on the Financial Action Task Force (FATF) “gray list,” the article notes that once external financial linkages are severed, compliance costs will cascade downward—ultimately borne by ordinary overseas-worker remittance-receiving households. The author warns that the Philippines’ current debt-to-GDP ratio has reached 63.2%, the highest in two decades. If crypto regulation is treated solely as a consumer protection issue—while overlooking its deeper implications for capital account management and fiscal sovereignty—the country may face a “Roosevelt-style four-day ultimatum” unprepared.