News linked to both this project and an event.
According to Cointelegraph, the UK Financial Conduct Authority (FCA) has released a "Stablecoin Sprint" policy research report, consolidating opinions from industry participants such as banks, payment companies, and stablecoin issuers. The report indicates that stablecoins currently demonstrate the most prominent advantages in the cross-border payment sector, particularly offering significant benefits to emerging markets with limited access to US dollars; however, in UK domestic retail payment scenarios, due to the existing payment system being relatively fast and low-cost, consumers lack the motivation to switch, and adoption is expected to be relatively slower. The aforementioned research findings have been incorporated into the final regulatory rules released by the FCA on June 30, requiring stablecoins issued in the UK to be fully backed by reserve assets and redeemable at par value.
According to Cointelegraph, 10 European financial institutions have jointly launched the blockchain cooperative Regulated Layer One (RL1), which has commenced operations in Luxembourg as a European cooperative society. The network targets regulated financial markets, focusing on supporting institutional-grade applications such as digital currencies, tokenized bonds, collateral, and on-chain settlement.
According to Cointelegraph, the Hong Kong Monetary Authority (HKMA) recently published a quantum security white paper and launched the industry's first Quantum Preparedness Index (QPI) to assess the banking sector's readiness to address quantum computing security threats. Survey results indicate that the overall QPI score for the banking sector is only 2.3 out of 10, with approximately half of the surveyed institutions yet to formulate formal post-quantum security plans. The HKMA aims for the entire industry to achieve a full score by 2030. The white paper points out that once quantum computers are capable of running Shor's algorithm at scale, they could potentially break existing RSA and elliptic curve encryption systems, thereby threatening the security of financial transaction authorization, authentication, and trust mechanisms.
According to Cointelegraph, the European Securities and Markets Authority (ESMA) updated the registration list for the third time after the MiCA transition period deadline, adding 15 crypto-asset service providers, bringing the total number of licensed institutions to 309. New institutions include BNY SA/NV, the European subsidiary of BNY Mellon, 3 German banks, and digital asset platforms such as BitPay, Coinify, and Bleap.
According to Cointelegraph, decentralized cloud storage provider Storj Labs has filed for Chapter 11 bankruptcy protection with the U.S. Bankruptcy Court for the Northern District of West Virginia. The company stated that during the restructuring, the network will maintain normal operations, customer service will not be affected, and parent company Inveniam will continue to provide support. Storj management plans to propose a mechanism allowing STORJ token holders to participate in the equity of the restructured company, but specific eligibility criteria, token snapshots or lock-up arrangements, and equity allocation ratios have not yet been disclosed; any plan must be approved by the court.
According to Cointelegraph, BitMEX was sued in a class-action lawsuit by BKX Services Inc. and David Namdar in the U.S. District Court for the Southern District of New York on July 24. The plaintiffs allege that BitMEX's internal trading team used privileged access during server freezes to illegally obtain customer Bitcoin collateral by manipulating the forced liquidation mechanism. The two plaintiffs suffered a combined loss of 622.66 BTC (BKX lost at least 305.81 BTC, and Namdar lost over 316.85 BTC). The plaintiffs demand the return of the seized Bitcoin and seek compensatory and punitive damages, representing U.S. users who purchased BTC swap products since July 23, 2018. Notably, the lawsuit was filed on the same day as the announcement of BitMEX's closure—BitMEX's parent company HDR Global Trading announced it will cease services on September 23 and has stopped accepting new user registrations. Following the announcement, the price of its BMEX token plummeted by approximately 90%.
According to Cointelegraph, US Senate Republicans released the draft text of the "Digital Asset Market Transparency Act" (CLARITY Act) on Wednesday, which includes ethical clauses prohibiting all federal officials (including President Trump) from issuing or sponsoring digital assets. Democratic Senator Ruben Gallego strongly criticized this, calling the draft "not a serious effort," and stated he would collaborate with Republican Senator Thom Tillis and others to propose a counter-proposal. Republican Senator Bernie Moreno maintained that the draft contains "the strongest ethical language in US history."
According to Cointelegraph, Michael Saylor stated that Strategy has optimized and upgraded its Bitcoin metric system, launching a new measurement methodology covering Bitcoin, Digital Credit, and Digital Equity, further integrating Bitcoin into a systemic financial framework.
According to Cointelegraph, Cardano completed the van Rossem hard fork on Saturday, upgrading the mainnet to version 11. This upgrade is expected to reduce smart contract execution costs and lay the foundation for the subsequent Dijkstra era hard fork and Ouroboros Leios scaling upgrade. On-chain data shows that the network transitioned from protocol version 10 to version 11 at epoch 644. The report noted that this is also the first hard fork driven by the governance mechanism in Cardano's history.
According to Cointelegraph, blockchain company Consensys onboarded a software development consultant using the alias Tyler Knapp through a reputable third-party service provider earlier this year, and a subsequent investigation revealed ties to North Korea. The individual had access to certain company systems for approximately one month, and the incident led Consensys to temporarily halt product releases and launch an internal investigation.
Interactive Brokers has added 9 new cryptocurrency trading pairs and now supports users withdrawing stablecoins to external wallets via USDC, PYUSD, and RLUSD. (Cointelegraph)
: The U.S. Department of the Treasury and HM Treasury have released recommendations from the Transatlantic Future Markets Working Group, covering stablecoin activities and tokenized finance. Both sides suggest that relevant agencies consider establishing private sector-led groups to test cross-border use cases for tokenized assets, and that U.S. financial institutions work with the Bank of England to determine a common approach to regulating tokenized assets. The U.S. and UK also issued a joint statement on stablecoins, stating their intention to promote regulatory coordination and build cross-border dynamic stablecoin markets. The statement also indicates that stablecoins should be fully backed by high-quality liquid assets at a minimum 1:1 ratio. Additionally, according to a report by an industry working group supported by the UK government, if the UK becomes a leading jurisdiction for tokenization, tokenization expands globally, and domestic adoption increases, tokenization could add up to $44 billion to the UK's annual economic output by 2035. (Cointelegraph)
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).
A UK government-backed industry working group has stated that if the UK becomes a leader in tokenized financial markets, it could add up to £33 billion (approximately $44 billion) to annual economic output by 2035. The report proposes a 12-month plan to test the use of blockchain in financial transactions where securities are borrowed against cash, and calls for the UK to issue its first tokenized government bond before the first quarter of 2027. Ripple supports the initiative, stating that on-chain funds, bonds, and repurchase agreements have already proven to be cheaper, better, and faster than traditional counterparts. (Cointelegraph).
: Japanese convenience store operator Lawson plans to test yen-pegged stablecoin payments in August at its Lawson Takanawa Gateway City store in Tokyo. HashPort has signed agreements with Lawson and KDDI to conduct the pilot, where participants will use HashPort's non-custodial wallet. The store will process payments through the HashPort payment system, eliminating the need for merchants to open or manage crypto wallets. Japanese payment company Netstars has launched Stablecoin Pay, opening applications to merchants looking to accept multiple stablecoins. The service initially supports USDC, USDT, and the yen-pegged stablecoin JPYC on the Solana and Polygon networks. Supported wallets include MetaMask, and the merchant transaction fee rate is 0.98%. (Cointelegraph).
According to Cointelegraph, the European Parliament passed the "Chat Control 1.0" extension bill on July 10 local time, allowing tech companies to scan user messages to detect Child Sexual Abuse Material (CSAM), with validity extended to 2028. Voting results showed 276 votes in favor and 314 against, but since blocking the bill required 361 votes, the bill was ultimately passed. Notably, the Parliament also passed an amendment explicitly excluding end-to-end encrypted communications from the scanning scope, seen as an interim victory for privacy advocates. The amended version of the bill will be submitted to the EU Council for deliberation, while negotiations on the permanent "Chat Control 2.0" bill are expected to restart in September.
According to Cointelegraph, crypto-friendly digital banking platform Revolut announced that it will cease support for USDT in the European Economic Area (EEA) and Swiss markets by August 31, 2026, with other markets remaining unaffected. Revolut stated that this move stems from regular reviews of crypto services and risk considerations under the EU MiCA regulatory framework. Currently, Revolut has already removed USDT trading pairs for EEA users from its Revolut X trading platform. It is worth noting that Switzerland is not a member of the EU or EEA and is not directly bound by MiCA, yet Revolut has not provided an explanation for including Switzerland in the affected markets. This delisting decision aligns with the overall trend of crypto platforms in the EU—since Tether chose not to apply for authorization under the MiCA framework, multiple platforms have successively delisted USDT.
Cointelegraph posted on X platform, stating that the market is weighing AI chip optimism against escalating Iranian war risks, with oil prices rising nearly 10% in three days. Investors are increasingly pricing in the possibility of further interest rate hikes by the Federal Reserve.
According to Cointelegraph, Telegram founder Pavel Durov was questioned by French investigators for more than six hours due to an ongoing criminal investigation. His lawyer stated that authorities do not yet possess evidence supporting the relevant charges.
According to Cointelegraph, the South African Revenue Service (SARS) has released draft guidelines on crypto asset taxation, clarifying relevant tax treatment based on the current Income Tax Act and capital gains tax rules. The draft points out that most crypto activities such as trading, exchanging, and spending are regarded as "disposal events," which may trigger tax events; crypto assets are classified as intangible assets, rather than legal tender or foreign currency; and the donations tax rate is 20%-25%. Taxpayer intent is the key basis for determining whether they are classified as traders or long-term investors. According to SARS 2024 data, at least 5.8 million residents in South Africa hold crypto assets. The draft is now open for public comment, with a deadline of August 31.