News linked to both this project and an event.
: Texas Deputy Comptroller Kelly Hancock has officially appointed four external members to the Strategic Bitcoin Reserve Advisory Committee. Established pursuant to Senate Bill 21, the committee includes CleanSpark President and CFO Gary Vecchiarelli, Bitcoin mining firm Cormint founder and CEO Jamie McAvity, Southern Methodist University law professor Carla Reyes, and investment executive Laurie Dotter. They will advise the Comptroller on Bitcoin valuation, custody, and risk management. (The Block)
According to The Block, Base—the Ethereum Layer 2 network operated by Coinbase—has officially activated the Azul upgrade on its mainnet. This marks Base’s first independent network upgrade following its separation from the Optimism Superchain. The Azul upgrade introduces a multi-proof system that combines TEE (Trusted Execution Environment) proofs with zero-knowledge (ZK) proofs, reducing the shortest possible withdrawal finalization time to just one day. Both proof types can independently confirm proposals; in case of conflict, permissionless ZK proofs override TEE proofs—further enhancing the network’s censorship resistance. Additionally, Azul integrates Base into a single execution client, <code>base-reth-node</code>, and introduces a new consensus client, <code>base-consensus</code>, built on OP Kona. Following the upgrade, the number of empty blocks has plummeted from approximately 200 per day to roughly 2 per day, and the network has achieved a sustained peak throughput of 5,000 transactions per second.
According to The Block, Jeffrey Sprecher, Chairman and CEO of Intercontinental Exchange (ICE), stated that ICE has met with the Hyperliquid team on multiple occasions to evaluate the possibility of entering the on-chain perpetual futures market—currently dominated by Hyperliquid—and has engaged with regulators to seek a “level playing field” for related business activities. Sprecher said ICE wants clarity on whether such business is legal; if it is, the company is willing to participate further; if not, it questions why existing participants are not subject to equivalent regulatory pressure. The report adds that ICE is also exploring potential synergies between its existing business and the on-chain perpetual futures market.
According to The Block, OKX Ventures and Korean investment securities firm KIS will each invest 80 billion Korean won (approximately $53 million), acquiring 19.6% equity stakes in South Korean cryptocurrency exchange Coinone; the transaction is pending regulatory approval.
OKX Ventures, the investment arm of OKX, announced it will acquire a 19.6% stake in Coinone, one of South Korea's five licensed digital asset trading platforms. Coinone has signed a strategic equity investment agreement with OKX Ventures, Korea Investment & Securities (KIS), as well as Com2uS and its affiliates.OKX Ventures and KIS will each invest 80 billion KRW ($53 million). Upon completion of the investment and receipt of regulatory approval, both companies will each hold a 19.6% stake in the platform. Together, they will become the third-largest shareholders of the South Korean exchange, trailing only Coinone CEO Cha Myung-hoon (27.8%) and Com2uS Holdings and its affiliates (25%).According to the announcement, the investment will be carried out through a combination of purchasing secondary market shares from Cha and Com2uS, as well as subscribing to newly issued shares. (The Block)
The U.S. Commodity Futures Trading Commission (CFTC) has filed a motion to intervene in litigation before the U.S. District Court for the District of Rhode Island to block Rhode Island’s enforcement—under state gambling laws—against CFTC-registered prediction markets. The CFTC asserts that it holds clear and longstanding exclusive jurisdiction over event contracts under the Commodity Exchange Act, and that applicable state laws cannot override designated contract markets. Previously, Rhode Island had initiated a parallel state-court action seeking substantial civil penalties and demanding that the prediction markets cease operations and disgorge profits. This case marks the latest instance—following similar challenges by Arizona, Connecticut, Illinois, New York, and Minnesota—in which a state government has contested the CFTC’s regulatory authority over prediction markets.
According to The Block, the Bank for International Settlements (BIS) announced that its “Project Agorá” tokenized prototype has successfully validated the feasibility of atomic settlement for cross-border wholesale transactions. The prototype adopts a layered architecture that leverages tokenized central bank reserves and commercial bank deposits to execute multi-currency, multi-jurisdiction “all-or-nothing” transaction chains, while allowing individual central banks to retain operational autonomy. Legal analysis indicates that settlement finality can be achieved across all seven participating jurisdictions, and privacy protection can also be ensured within a compliant regulatory framework. Launched jointly by the BIS and the Institute of International Finance (IIF), the project currently involves seven central banks—including the Federal Reserve Bank of New York, the Bank of England, Banque de France, the Bank of Japan, the Bank of Korea, Banco de México, and the Swiss National Bank—as well as over 40 private-sector financial institutions. In the next phase, the Bank of Canada will officially join as the eighth central bank participant; the project will advance to real-value testing and further expand private-sector involvement.
According to The Block, the White House Office of Information and Regulatory Affairs has received the Commodity Futures Trading Commission’s (CFTC) proposed rulemaking notice on prediction markets and is currently reviewing it. The CFTC stated it will provide further details after the interagency review process concludes. Recently, Trump publicly endorsed CFTC Chair Michael Selig’s position that prediction markets should fall under the CFTC’s exclusive jurisdiction. Over the past year, the CFTC has consistently reinforced its regulatory claims over prediction markets and has filed lawsuits against five states—Wisconsin, Illinois, Arizona, Connecticut, and New York—seeking to restrict Kalshi and Polymarket. TD Cowen believes Trump’s statement is unlikely to alter the legal dispute surrounding this matter in federal court.
Investment bank TD Cowen stated that as the relevant political environment continues to deteriorate, the likelihood of the US crypto market structure bill, the "Clarity Act," passing this year is declining.TD Cowen analyst Jaret Seiberg pointed out that while the Senate Banking Committee advanced the bill earlier this month, this does not signify a substantive bipartisan agreement; rather, it merely pushes the controversy to the full Senate floor.The report indicated that the escalating controversies surrounding US President Donald Trump and his administration related to crypto in recent days are making it harder for Democrats to support the bill. If the bill does not include clear conflict-of-interest provisions, it will face even greater difficulty in gaining sufficient support in the current political environment.
Odaily报道 The Digital Chamber, a crypto industry group, has responded to Senator Elizabeth Warren’s questions regarding recent approvals of OCC national trust charters, stating that her claim of crypto companies receiving "improper approvals" is unfounded.Earlier, Warren sent a letter to the Office of the Comptroller of the Currency (OCC), arguing that recent approvals granted to digital asset companies such as Ripple, Circle, Paxos, Fidelity, BitGo, and Coinbase may violate the National Bank Act and fail to adhere to the same regulatory standards applied to traditional banks.The Digital Chamber stated that the OCC has the authority to grant national trust charters to qualified institutions, and that such arrangements do not equate to relaxed oversight. Representing over 250 crypto-related entities, the organization believes these charters help integrate digital asset services into a clearer federal regulatory framework.
the Spanish government is taking action to block Polymarket and Kalshi, stating that the two prediction market platforms are operating in the country without obtaining gambling licenses, allegedly violating the law. Spain's consumer affairs department stated that it has issued preventive blocking orders targeting the websites of Polymarket and Kalshi. Officials will investigate suspected violations of gambling laws, with the relevant procedures expected to last three to four months.The Spanish Gambling Regulatory Authority stated that when prediction platforms allow users to place bets on uncertain outcomes, they carry gambling risks, and companies seeking to offer such services require specific administrative licenses. Currently, Polymarket and Kalshi have not responded to requests for comment. (WSJ)
According to The Block, JPMorgan analysts noted in their latest report that tokenized money market funds currently account for only about 5% of the stablecoin market size and are expected to continue growing—but unless there is a significant shift in the regulatory environment, they are unlikely to surpass a market share ceiling of 10%–15%. The analysts believe stablecoins remain the preferred cash instrument in the crypto ecosystem due to their widespread use in trading, settlement, cross-border payments, and liquidity management. In contrast, tokenized money market funds—classified as securities—are subject to structural regulatory disadvantages, including requirements for registration, disclosure, and transfer restrictions, making them difficult to circulate freely within on-chain ecosystems. Although the U.S. SEC has introduced streamlined processes for issuing on-chain money market funds, JPMorgan analysts view this as only a “marginal improvement,” insufficient to fundamentally alter the market dynamics between these two asset classes.
: The U.S. Commodity Futures Trading Commission (CFTC) has signed a Memorandum of Understanding (MOU) with the National Hockey League (NHL) to strengthen the regulation of prediction markets. The two parties will enhance information sharing and collaboration to safeguard the fairness and integrity of the market for contracts related to professional hockey games and related events. This includes strengthening their existing event integrity monitoring systems and improving their ability to identify, prevent, and respond to potential risks. As platforms like Kalshi and Polymarket continue to gain traction, especially following the 2024 U.S. election cycle, sports and event-based prediction markets are increasingly moving into the mainstream financial and regulatory spotlight. (The Block)
Missouri Attorney General Catherine Hanaway has filed a lawsuit against CoinFlip operator GPD Holdings, alleging that the cryptocurrency ATM network facilitated fraudulent transactions while charging high fees, violating the state's consumer protection laws.Over the past two years, Missouri has reported approximately 350 cases related to cryptocurrency ATMs, with losses potentially reaching millions of dollars. The lawsuit seeks consumer restitution, civil penalties of up to $1.826 million, and an injunction barring the company from operating in the state. (The Block)
According to The Block, the wife of Sebastien Borget, co-founder and Chief Operating Officer of the metaverse project The Sandbox, was the target of an attempted kidnapping this week at their residence in Villenoy, France. As reported, the suspect gained access to the property posing as a delivery person; subsequently, five other masked accomplices broke in and attempted to forcibly take her to a vehicle. The attempt failed after neighbors heard her cries for help and intervened. French authorities have arrested two suspects, while four others remain at large. French media report that preliminary investigations suggest the incident may be linked to cryptocurrency. Data shows that since January 1, 2026, France has recorded 41 kidnappings or attempted kidnappings related to cryptocurrency.
According to The Block, IG Europe has partnered with Bitpanda to expand its digital asset product offerings across the European Union, driven by rising client demand for exposure to crypto assets. IG Europe stated that this move will provide European investors with a broader range of asset classes. IG Europe is part of IG Group and is regulated by Germany’s Federal Financial Supervisory Authority (BaFin). Recently, IG Group acquired Australian crypto exchange Independent Reserve, secured a Markets in Crypto-Assets (MiCA) license enabling it to offer crypto products and services across the EU, and sold its previously acquired futures trading platform Small Exchange Inc. to Kraken. As of the end of 2025, Bitpanda had at least 7.4 million registered users.
Odaily Odaily News: Flipcash, an app created by Kik founder Ted Livingston, has launched a native stablecoin USDF on Solana, based on Coinbase's "Stablecoin as a Service" platform.According to reports, USDF is pegged 1:1 to the US dollar and fully backed by USDC. Coinbase handles issuance, reserves, and compliance matters. Flipcash has become the first application to use the Coinbase stablecoin-as-a-service platform.It is understood that USDF will primarily be used for cash-like payment scenarios within the Flipcash app. Flipcash is a digital payment application built on Solana, allowing users to create and trade "community currencies" with a fixed supply.Coinbase launched its stablecoin-as-a-service platform in late 2025, aiming to help enterprises issue branded stablecoins without needing to build their own infrastructure. (The Block)
According to The Block, Sarah Breeden, Deputy Governor for Financial Stability at the Bank of England, stated that the UK’s future financial system will advance tokenization, with the retail payments system incorporating tokenized deposits, regulated stablecoins, and potentially a retail central bank digital currency (CBDC). The Bank of England plans to publish a draft regulatory framework for systemic stablecoins next month and finalize it by the end of 2026—imposing temporary caps on stablecoin issuance volumes if necessary. Breeden also noted that the Bank of England will continue supporting banks in developing tokenized deposits and advancing initiatives such as the Digital Securities Sandbox and Digital Gilt.
According to The Block, Japan’s ruling Liberal Democratic Party (LDP) has officially approved a policy proposal to build a next-generation national financial system based on blockchain and AI. The proposal also supports advancing tokenized deposits and yen-denominated stablecoins. The report notes that this initiative is being formally advanced at the ruling party level and involves strategic directions for Web3 and financial infrastructure development.
the U.S. state of Minnesota has officially passed and signed into law Bill HF 3709, allowing banks and credit unions to offer cryptocurrency custody services, further clarifying the business boundaries of financial institutions in the digital asset space. The bill, signed by Governor Tim Walz, will take effect on August 1, 2026. It stipulates that relevant financial institutions must establish risk management, internal control, and security policies before engaging in crypto custody, submit a notification to the state's Department of Commerce 60 days prior to launching services, and ensure that client assets are strictly segregated from the institution's own assets.The bill aims to enable local financial institutions to offer crypto services within a regulatory framework, reducing users' reliance on overseas or unregulated platforms and enhancing asset security. At the same time, Minnesota recently passed Bill SF 3868, which prohibits the establishment of new crypto ATMs within the state and requires existing machines to be phased out, sparking market concerns about further tightening of on-ramp access for cryptocurrencies.Currently, several U.S. states, including New York, Wyoming, and Virginia, already permit banks to engage in crypto custody services, indicating a divergence in regulatory paths at the state level. (The Block)