News linked to both this project and an event.
Odaily News: The Australian Transaction Reports and Analysis Centre (AUSTRAC) has suspended the registration of cryptocurrency ATM operator Cryptolink for a three-month period, resulting in the shutdown of 96 cryptocurrency ATMs it operates across Australia. AUSTRAC stated that Cryptolink failed to submit transaction reports and did not respond to the regulator's requests for information. The agency noted that cash-to-cryptocurrency conversion services may pose money laundering risks and has intensified its scrutiny of cryptocurrency ATMs. (CoinDesk)
According to Odaily, Randi Abernethy, Head of Clearing and Group Risk at Bullish, stated that the U.S. Senate's failure to pass the Digital Asset Market Clarity Act (CLARITY Act) does not mean the digital asset market will stop developing; rather, it highlights the necessity of establishing a federal regulatory framework.Abernethy noted that during the Senate's consideration of the CLARITY Act, traditional U.S. financial institutions have continued to accelerate their entry into the on-chain market. JPMorgan Chase has explored tokenized ETF holdings through a production pilot with the Depository Trust & Clearing Corporation (DTCC), and more than 50 institutions (including BlackRock and Goldman Sachs) are also participating in the development of tokenized stock and Treasury bond infrastructure. The current regulatory discussion is no longer just a "crypto industry issue," but one that concerns the future infrastructure of the entire financial system.Abernethy cited the 2008 financial crisis as an example, noting that financial risk spreads along shared infrastructure, and even institutions not directly involved in related assets can be affected. Today, the stablecoin market size has exceeded $100 billion, with a large portion of stablecoin reserves invested in U.S. Treasuries. If a major stablecoin were to face a crisis, it could impact liquidity in traditional financial markets. She stated that supporters of the CLARITY Act believe the bill could establish a unified regulatory framework for the digital asset market, including core investor protection mechanisms such as customer asset segregation, conflict of interest management, capital requirements, and information disclosure. (CoinDesk)
The U.S. Digital Asset Market Clarity Act (CLARITY Act) failed to seize a critical advancement window before the Senate's summer recess, and the market is now focusing on whether the U.S. crypto industry can continue to develop even if the bill ultimately fails.Analysts believe that if the CLARITY Act fails to pass, it would be a significant setback for the crypto industry, but not a fatal blow. The bill was designed to clarify the boundaries between securities, commodities, and other categories of digital assets, determine the agencies responsible for overseeing related businesses, and grant the U.S. Commodity Futures Trading Commission (CFTC) clearer regulatory authority over crypto commodity trading.Currently, the bill's progress has stalled, and the likelihood of comprehensive crypto market structure legislation being enacted before the end of the year is declining. This means the U.S. may still lack a clear digital asset regulatory framework, particularly regarding oversight of trading in major crypto assets such as Bitcoin (BTC) and Ethereum (ETH), where jurisdictional gaps remain between the CFTC and the U.S. Securities and Exchange Commission (SEC).However, industry insiders point out that even if the CLARITY Act fails, the SEC and CFTC are still likely to continue advancing industry development through policy statements, regulatory guidance, and existing enforcement authority.In recent years, both agencies have issued multiple pieces of guidance clarifying the regulatory boundaries of business models such as crypto mining, Meme coins, and staking rewards. One of the most significant measures among these is the digital asset taxonomy framework, which seeks to establish standardized regulatory classifications for different types of digital assets. (CoinDesk)
Odaily News U.S. Senator Elizabeth Warren stated that she supports advancing cryptocurrency-related legislation, but does not back the current CLARITY Act, arguing that the bill fails to adequately address key issues such as corruption, consumer protection, national security, and economic risks.Warren noted that the crypto industry needs a clear regulatory framework, but any regulatory approach must ensure investor protection and the safety of the financial system. She believes the CLARITY Act falls short in preventing conflicts of interest, safeguarding consumers, and mitigating potential systemic risks.The CLARITY Act aims to further clarify the division of regulatory responsibilities for U.S. digital asset markets, establishing a clearer legal framework for crypto asset trading, issuance, and market participants. Supporters argue that the bill would enhance industry certainty and drive innovation.However, some Democratic lawmakers, including Warren, have previously expressed concerns about crypto regulation legislation, arguing that certain proposals could weaken regulatory authority and create regulatory arbitrage opportunities for large crypto firms.Warren has long maintained a cautious stance on crypto assets, focusing on consumer protection, financial stability, and risks related to illicit activities in the crypto market. Her latest remarks indicate that U.S. crypto regulation legislation continues to face contention between the two parties and various interest groups. (CoinDesk)
According to CoinDesk, Bitcoin's 30-day implied volatility has fallen to the 36% long-term support bottom, with prices trading in a narrow range below $65,000. Adam Haeems, Head of Asset Management at Tesseract Group, warned that in a low-volatility environment, declining trading costs actually attract traders to establish large-scale directional bets and hedge positions. Once the market breaks through key levels, market makers' passive hedging will accelerate price volatility, leading to a mean-reverting rebound in volatility. Regarding market sentiment, Paul Howard, Senior Director at Wincent, pointed out that current demand for put options has significantly weakened, but call option buying is also absent—Glassnode describes this as "no one is paying for upside, and no one is paying for downside," believing this is typically a signal that the market is approaching a cycle bottom. The divergence in price trends between DOGE and BTC also confirms the continued absence of speculative sentiment. Howard stated that the next significant catalyst could be institutional ETF fund inflows driven by positive regulatory developments such as the Clarity Act, while a breakdown in Strait of Hormuz negotiations and inflation shocks constitute major downside risks.
According to CoinDesk, the S&P 500 index has risen 3.12% this month, adding approximately $2.1 trillion in market value (equivalent to the total market cap of the entire crypto market), reaching a record high total market cap of $70.5 trillion, but Bitcoin has only risen about 2% this month, hovering near $64,600. Analysts point out that this round of stock market rise is mainly driven by AI and semiconductor individual stock narratives, rather than a broad-based recovery in risk appetite at the macro level, and Bitcoin lacks direct beneficial exposure to this. Meanwhile, the crypto market also faces multiple internal pressures: the Coldcard platform suffered a $120 million exploit, the prospects of the "Clarity Act" remain uncertain, MicroStrategy has reduced its BTC holdings for three consecutive months, and stablecoin supply continues to shrink—USDT's market cap dropped from $190 billion in April to $183 billion, and USDC's dropped from $79.5 billion to $72 billion.
According to CoinDesk, U.S. Senator Hagerty publicly called on the Senate to pass the CLARITY Act as soon as possible, emphasizing that "the U.S. must not fall behind in the digital asset space." Supporters argue that regulatory clarity is key to retaining builders and capital in the crypto industry; otherwise, there will continue to be a risk of talent and capital outflow to other jurisdictions. The next Senate vote is regarded as a critical milestone for the crypto industry.
According to CoinDesk, BNY Mellon (The Bank of New York Mellon) announced a partnership with crypto financial services company Galaxy (GLXY), planning to add staking functionality to its digital asset custody platform. Institutional clients will be able to stake digital assets in custody directly through the BNY platform without needing to transfer tokens to third-party service providers. The service is pending regulatory approval before officially launching. Galaxy will be responsible for providing staking infrastructure and will participate in platform expansion as a design partner.
According to CoinDesk, the 30-day implied volatility index BVIV, which measures expected volatility in the Bitcoin options market, has continued to decline, now falling to 36%, the lowest level since May 31, significantly down from the high near 60% in early June. Recent influencing factors include the Coldcard wallet attack incident involving tens of millions of dollars, weak institutional demand, and uncertainty in the regulatory and macroeconomic environment, but there are no obvious signs of panic in the market. However, volatility has mean-reverting characteristics. When the indicator falls to historical lows, a rebound often follows. Currently, BVIV has approached levels that have previously formed support multiple times. If volatility rebounds quickly in the future, it may be accompanied by a significant directional move in Bitcoin; whether up or down, traders need to remain vigilant.
据 CoinDesk 报道，Robinhood 英国子公司已于 7 月 31 日被列入英国金融行为监管局（FCA）注册加密资产公司名单，意味着其符合监管机构在反洗钱（AML）方面的要求。该注册体系自 2020 年生效以来，已有超 50 家公司获批，包括 Ripple、Kraken 及 BlackRock、BNY 等传统金融巨头。 此次获批正值英国更全面的加密监管框架即将启动之际，新框架的授权申请将于 9 月底开放，次年 2 月底截止，完整监管制度将于 10 月正式生效。已在现行体系下完成注册的公司，意味着为后续申请提前完成了大量准备工作。
According to CoinDesk, Coinbase Canada's new CEO Eric Richmond stated at the Toronto Blockchain Futurist Conference that Coinbase aims to become Canada's "all-in-one exchange," fully introducing products such as derivatives, decentralized finance (DeFi), and tokenized assets into the Canadian market to achieve "24/7, seamless, frictionless" one-stop financial services.
According to CoinDesk, the world's largest custodian bank, The Bank of New York Mellon (BNY), announced it will migrate its transfer agent core bookkeeping business to the blockchain, involving approximately $8.6 trillion in assets and 7.6 million accounts, aiming to establish a single on-chain ownership ledger and reduce reliance on multi-layer intermediaries. BNY client Baillie Gifford (managing over $261 billion) will be the first to use the service, launching the UK's first fully locally regulated tokenized fund, while BlackRock and its money market business Dreyfus also plan to follow suit. BNY stated that existing traditional systems will continue to run in parallel, with trillions of dollars in funds remaining on the traditional track in the short term.
According to CoinDesk, U.S. District Court Judge for the District of Minnesota Katherine Menendez ruled on July 28 local time that the Minnesota state law criminalizing the operation of prediction markets likely violates the federal Commodity Exchange Act (CEA), and granted a preliminary injunction to Kalshi, Polymarket, and the U.S. Commodity Futures Trading Commission (CFTC) to suspend the enforcement of the state law. The judge held that prediction market contracts structurally fall under 'swap' products within the CFTC's regulatory scope, federal law takes precedence over state law, and the three plaintiffs are 'likely to prevail in the formal trial'. Additionally, the judge noted that failing to suspend the enforcement of the law would cause 'irreparable harm' to Kalshi and Polymarket. The preliminary injunction will remain in effect until the final judgment of the case is issued.
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.
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 CoinDesk, South Korea's largest trading company POSCO International is collaborating with LG CNS, a technology subsidiary under the LG Group, to pilot the tokenization of real trade accounts receivable on the Layer-1 blockchain Injective. The project aims to accelerate commercial payment processes among POSCO's global subsidiaries by placing accounts receivable on-chain, building a single ledger shared by buyers, sellers, and banks, enabling compliance rules to flow synchronously with assets, and is expected to significantly compress the traditional reconciliation cycle that typically takes several days. POSCO International reported revenue of $22.2 billion last year, with operations covering steel, energy, and battery materials, among other fields.
the race for the EU's Markets in Crypto-Assets Regulation (MiCA) is coming to an end, but the real challenges for companies are just beginning. The high cost of maintaining ongoing compliance systems may reshape the European crypto landscape. The future competitive focus in the industry is likely to shift from "who can obtain a license" to "who can afford the regulatory costs," driving companies towards scaling through mergers and acquisitions, joint ventures, or partnerships with banks. As MiCA is gradually implemented and the UK's crypto regulatory framework takes shape, the European crypto industry is entering a new phase of consolidation. Insiders believe that high-standard regulatory requirements could fuel a new wave of M&A, and cooperation between crypto-native companies and traditional financial institutions will deepen further.This trend may be even more pronounced in the UK market. The Financial Conduct Authority (FCA) is developing a new regulatory framework for crypto assets, which is expected to bring crypto businesses under the existing financial services regulatory system, subjecting them to capital, operational, and customer asset protection requirements similar to those for traditional investment firms. Steven Lightstone, a partner at Morgan Lewis in London and co-head of the global fintech team, stated that while the FCA aims to promote market competition and support new entrants, its regulatory standards will be very strict when it comes to consumer protection. Unlike the EU's standalone MiCA framework, the UK's approach will directly leverage the existing financial regulatory system to manage crypto firms.Meanwhile, increased regulatory certainty is accelerating the entry of European banks into the digital asset space. Simon Schneider, CEO of Sygnum Europe, noted that currently fewer than 20% of banks in Europe offer crypto-related services, indicating a significant market gap. The greatest value of MiCA is not just creating a new licensing system but providing legal certainty for financial institutions to enter the digital asset market. Citing Switzerland as an example, he pointed out that after the introduction of distributed ledger technology regulations, most major Swiss banks have begun offering digital asset services, a path that other parts of Europe may follow in the future. Banks are unlikely to replace crypto-native companies altogether; instead, they are more likely to rely on specialized infrastructure providers and collaborate in areas such as custody, brokerage, staking, and asset tokenization.As companies that fail to secure MiCA licenses gradually exit the European market, assets may become further concentrated among regulated entities. However, Schneider believes that self-custody models and institutional custody models will continue to coexist for the long term.Industry insiders suggest that the European crypto industry is entering a "regulatory-driven consolidation cycle." For crypto startups that previously
India's cybercrime agency has requested GitHub to remove the code repository for Bitchat. Bitchat is an offline messaging app launched by Jack Dorsey, featuring a decentralized design and no registration requirement. Indian authorities stated that Bitchat's design hinders lawful surveillance and investigations. Delhi protesters used this app, along with similar Bluetooth mesh applications, to coordinate actions during the exam scandal protests, circumventing multiple internet outages. It remains unclear whether GitHub complied with the takedown request within the three-hour deadline. As of Friday, Bitchat is still available on major app stores, and open-source code can typically be mirrored and stored beyond a single platform. (CoinDesk)
Odaily news The U.S. Securities and Exchange Commission (SEC) has agreed to pay $150,000 to resolve a Freedom of Information Act (FOIA) lawsuit concerning its records on the Ethereum investigation. According to a joint case status report filed on July 22, the SEC and the plaintiff, History Associates Inc., have reached a settlement and have requested the United States District Court for the District of Columbia to dismiss the case.Under the agreement, the SEC will continue to provide the remaining relevant documents and pay a fixed amount to cover the plaintiff's legal fees. The lawsuit was filed by History Associates in June 2024. This agency, commissioned by Coinbase, demanded the SEC disclose materials related to its regulatory investigation of Ethereum, including investigation files on Zachary Coburn and Enigma MPC, as well as records of regulatory discussions regarding Ethereum's transition from proof-of-work (PoW) to proof-of-stake (PoS).Previously, this lawsuit prompted the SEC to deliver thousands of documents. The court also ordered the SEC to prioritize providing internal communications sent, received, or reviewed by then-Chairman Gary Gensler regarding Ethereum's migration from PoW to PoS.During the case, the SEC sparked controversy for deleting some of Gensler's text message records. The SEC's Office of Inspector General previously disclosed that the agency accidentally deleted Gensler's text messages from October 2022 to September 2023. Subsequent documents revealed that the SEC also wiped data from 21 senior officials' phones.Coinbase CEO Brian Armstrong stated that the incident highlights transparency issues within government agencies during the crypto regulatory process and noted that the relevant lawsuits aim to promote public access to the basis for regulatory decisions. With the SEC completing the submission of the remaining documents, this lawsuit, which has lasted for over two years, will officially come to an end. (CoinDesk)
Goldman Sachs Group CEO David Solomon stated that while the CLARITY Act is not perfect, he supports its advancement, believing it will establish a clearer and fairer regulatory framework for the digital asset market, enhance market stability, and promote innovation.Solomon said the most significant implication of the CLARITY Act is "creating a level playing field, allowing the market to develop healthily." This stance contrasts sharply with that of some banking executives, such as JPMorgan CEO Jamie Dimon. They argue that the bill, by allowing crypto companies to offer stablecoin products similar to interest-bearing deposits without assuming the same regulatory requirements as banks, could weaken the competitiveness of traditional banks.Currently, Republican senators in the U.S. have released a revised text of the CLARITY Act, which could be submitted to the Senate for a vote as early as next week. The bill aims to clarify the division of responsibilities between the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) in regulating digital assets, and will continue negotiations on terms related to stablecoin issuance, consumer protection, and yield-bearing stablecoins. (CoinDesk)