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Project Overview
Digital Asset is a blockchain software and services provider that helps enterprises create economic value through interconnected networks. Their products are built on Daml, the leading platform for developing and running complex, multi-party applications using an advanced smart contract language and tools. Daml offers unparalleled privacy and a top-notch SDK, ensuring that all participants in an application remain in sync and have access to reliable, real-time data.
SEC Proposes New Crypto Rules: Establishing a Token Investment Contract Safe Harbor with Offering Cap of Up to $75 Million
Odaily News: The U.S. Securities and Exchange Commission (SEC) has proposed rules related to crypto assets, aiming to establish a clear framework for eligible investment contracts and provide a targeted securities offering regime for token issuances, enabling related entities to raise funds while retaining investor protection measures. The proposed rules would allow crypto companies to issue up to $5 million in tokens over four years, or up to $75 million in tokens within 12 months, and provide a safe harbor to prevent cryptocurrencies from being deemed "investment contracts." Issuers would be required to disclose financial statements and provide ongoing reporting. The SEC did not include the previously anticipated "innovation exemption" for crypto stocks. The proposal comes just days after the U.S. Senate failed to advance the Digital Asset Market Clarity (CLARITY) Act; the public will have 60 days to submit comments after the proposal is published in the Federal Register. SEC Chair Paul Atkins stated that congressional legislation remains essential for establishing rules that can be applied over the long term, and the SEC will continue to support Congress in advancing the CLARITY Act to President Trump. The Commodity Futures Trading Commission (CFTC) plans to discuss cryptocurrency, AI, and prediction market regulation on Thursday. (Cointelegraph)
SEC to Consider Regulation Crypto, Potentially Allowing Certain Crypto Projects to Raise Funds Without Full Securities Registration
Odaily News: The U.S. Securities and Exchange Commission (SEC) will hold a public meeting on August 14 to consider proposing a "Regulation Crypto" rule framework that would allow certain crypto projects to raise funds without completing full securities registration. If public comment is initiated, this would mark the SEC's first formal, long-term crypto industry rulemaking. The framework is expected to establish a pathway for exiting SEC oversight: after project developers raise funds, if they no longer actively manage the project and the project achieves decentralization, it may fall outside SEC jurisdiction. SEC Chair Paul Atkins has previously stated that the exemption period could last up to four years, though the announcement did not disclose funding amount thresholds. The U.S. Senate did not advance the Digital Asset Market Clarity Act before entering its August recess. The final rule will still take several months to complete, and the meeting will be held at 10:00 a.m. ET on August 14. (Decrypt)
Nomura's Digital Asset Arm Laser Digital Invests in ZIGChain to Drive On-Chain Private Credit in the Middle East
Odaily News – Laser Digital, the digital assets division of Japanese financial group Nomura, has announced a strategic investment in ZIGChain, a Layer 1 blockchain project based in the UAE. The two parties will collaborate to advance the on-chain adoption of the private credit market in the Middle East and Gulf region, including Sharia-compliant asset products.Neither party disclosed the specific investment amount, but market sources indicate the investment is in the high single-digit millions range. ZIGChain has already partnered with Standard Chartered and crypto-friendly fund services provider Apex Group, focusing on on-chain asset management and private credit infrastructure development. (CoinDesk)
Tether Gold-Backed Digital Asset XAU₮ Receives Sharia Compliance Certification
Tether announced that its gold-backed digital asset XAU₮ has received Sharia compliance certification from Amanah Advisors, an institution led by Mufti Faraz Adam. The certification confirms that XAU₮ adheres to the core principles of Islamic finance. XAU₮ is issued by TG Commodities, S.A. de C.V., with each full token representing direct ownership of physical gold stored in Swiss vaults. Certification requirements include genuine ownership of physical gold, clear and verifiable asset backing, no interest (riba), no leverage or speculative derivatives, and transparent reserve structures. Tether stated that XAU₮ can be used for integrating digital gold products into Islamic banking, takaful and halal savings products, long-term wealth preservation strategies, as well as tokenized trade finance and collateral applications. Amanah Advisors will continue to work with Tether to develop practical guidelines and governance frameworks to support the adoption of XAU₮ in a Sharia-compliant manner.
Bitcoin Treasury Companies Shift Strategy: Selling BTC, Repaying Debt, and Betting on AI as Stock Plunges Force Strategic Pivot
Odaily News As Bitcoin prices have experienced a significant correction, publicly listed companies that had accumulated large BTC holdings are facing multiple challenges, including falling stock prices, debt pressures, and a deteriorating financing environment. Some of these companies are now starting to sell Bitcoin, repay debts, and even pivot towards artificial intelligence (AI) data center operations.Strategy pioneered the "Digital Asset Treasury (DAT)" model, continuously purchasing Bitcoin through financing and borrowing, inspiring a wave of other listed companies to follow suit. However, as the BTC price has fallen approximately 50% from its peak of around $126,000 in October 2025, the stock prices of related companies have also shrunk significantly, forcing them to reassess their BTC accumulation strategies.This week, shareholders of London-listed company Satsuma Technology approved the liquidation of all 668 BTC, returning capital to shareholders, while proceeding with delisting. Another London-listed company, The Smarter Web Company, sold 178 BTC to repay its convertible debt.Additionally, Sequans Communications has sold 1,025 BTC and further sold nearly 80% of its remaining holdings to repay convertible bonds. The company stated it will not continue purchasing Bitcoin in the future and plans to sell the remaining approximately 658 BTC.Nakamoto's stock price has fallen approximately 99% since its SPAC listing in May 2025. The company recently sold about 284 BTC, raising approximately $20 million for working capital. Of its remaining approximately 5,342 BTC, nearly 70% has been pledged as collateral for loans from Kraken, which market observers believe poses a potential risk event.Meanwhile, Bitcoin mining companies are also adjusting their strategies. Companies like Bitdeer Technologies and MARA Holdings are selling portions of their BTC to repurchase shares, repay debts, and redirect energy resources and computing infrastructure towards AI data center operations.Other companies selling BTC include Empery Digital. Data shows that Strategy has recently sold approximately 3,620 BTC and has authorized further asset sales to maintain its U.S. dollar reserves.However, Strategy remains the world's largest corporate holder of Bitcoin, with holdings exceeding 840,000 BTC. The company's CEO, Michael Saylor, stated that while it may sell some Bitcoin in the future to pay dividends, this does not mean the company is exiting its Bitcoin investment.Beyond asset adjustments, management and capital operations at some Bitcoin treasury companies are also changing. Jack Mallers has stepped down as CEO; and Bitcoin Standard Treasury Company (BSTR), affiliated with Adam Back, failed to complete a proposed merger due to the deteriorating market environment.Analysts believe that with rising financing costs and increased BTC price volatility, the "borrowing to buy Bitcoin" treasury model is undergoing a reshuffle. Some companies are shifting from simply hoard
South Korea KB Financial Group Establishes 100 Billion Won Digital Asset Strategic Investment Fund
According to DigitalToday, South Korea's KB Financial Group announced the establishment of a digital asset strategic investment fund with a scale of 100 billion won (approximately 71 million USD), aiming to seek investment opportunities in the fields of digital assets and artificial intelligence and accelerate digital financial transformation. The fund manager is KB Investment, and key investment areas include: technologies related to the digital asset market, foundational models and application services supporting AI transformation, and startups in the artificial intelligence infrastructure field such as data inference and analysis.
Trump White House Crypto Event Urges Advancement of Clarity Act
Trump is expected to attend the White House crypto meeting on August 19, pushing for a final Senate vote on the Digital Asset Market Clarity Act, with the bill's ethical provisions remaining the key sticking point.
SEC Proposes New Crypto Rules: Establishing a Token Investment Contract Safe Harbor with Offering Cap of Up to $75 Million
Odaily News: The U.S. Securities and Exchange Commission (SEC) has proposed rules related to crypto assets, aiming to establish a clear framework for eligible investment contracts and provide a targeted securities offering regime for token issuances, enabling related entities to raise funds while retaining investor protection measures. The proposed rules would allow crypto companies to issue up to $5 million in tokens over four years, or up to $75 million in tokens within 12 months, and provide a safe harbor to prevent cryptocurrencies from being deemed "investment contracts." Issuers would be required to disclose financial statements and provide ongoing reporting. The SEC did not include the previously anticipated "innovation exemption" for crypto stocks. The proposal comes just days after the U.S. Senate failed to advance the Digital Asset Market Clarity (CLARITY) Act; the public will have 60 days to submit comments after the proposal is published in the Federal Register. SEC Chair Paul Atkins stated that congressional legislation remains essential for establishing rules that can be applied over the long term, and the SEC will continue to support Congress in advancing the CLARITY Act to President Trump. The Commodity Futures Trading Commission (CFTC) plans to discuss cryptocurrency, AI, and prediction market regulation on Thursday. (Cointelegraph)
Applications for National Bank Charter Now Open; OCC Reports 40 Submissions from Digital Asset Firms in Past 18 Months
: Bitcoin News posted on the X platform that the OCC stated companies engaged in legally permitted activities such as digital assets and emerging technologies should have a pathway to apply for national bank charters. OCC Acting Comptroller Jonathan Gould said regulators had effectively blocked new bank applications for over a decade, but that period has now ended. The OCC has received 40 new bank applications over the past 18 months and noted that many complete applications have been decided within 120 days.
SEC to Consider Regulation Crypto, Potentially Allowing Certain Crypto Projects to Raise Funds Without Full Securities Registration
Odaily News: The U.S. Securities and Exchange Commission (SEC) will hold a public meeting on August 14 to consider proposing a "Regulation Crypto" rule framework that would allow certain crypto projects to raise funds without completing full securities registration. If public comment is initiated, this would mark the SEC's first formal, long-term crypto industry rulemaking. The framework is expected to establish a pathway for exiting SEC oversight: after project developers raise funds, if they no longer actively manage the project and the project achieves decentralization, it may fall outside SEC jurisdiction. SEC Chair Paul Atkins has previously stated that the exemption period could last up to four years, though the announcement did not disclose funding amount thresholds. The U.S. Senate did not advance the Digital Asset Market Clarity Act before entering its August recess. The final rule will still take several months to complete, and the meeting will be held at 10:00 a.m. ET on August 14. (Decrypt)
Cregis Custody FZE Receives Dubai VARA In-Principle Approval (IPA), Advancing Digital Asset Custody Business Deployment
Cregis Custody FZE announced that it has received an In-Principle Approval (IPA) granted by the Dubai Virtual Assets Regulatory Authority (VARA), marking a significant milestone in its application for a Virtual Asset Service Provider (VASP) license. Upon completing subsequent regulatory requirements and obtaining final approval, Cregis Custody FZE will commence regulated digital asset custody services.
Gate Europe CEO Giovanni Cunti: Digital Asset Platforms Are Evolving from Trading Venues to Comprehensive Financial Infrastructure
Odaily News - According to the latest LinkedIn post by Gate Europe CEO Dr. Giovanni Cunti, as the digital asset industry continues to mature, the role of digital asset platforms is evolving from traditional trading services to a broader range of financial solutions. User demand has also expanded beyond simply trading digital assets to encompass multi-asset allocation, fund management, digital payments, and new financial products.Dr. Giovanni Cunti stated that the development of stablecoins, tokenized assets, digital payments, and multi-asset investment products is accelerating the convergence of digital assets with traditional finance. Digital asset platforms are transforming from single-purpose trading venues into comprehensive financial infrastructure that connects different financial products, markets, and forms of value.He noted that as digital asset services further penetrate the traditional financial sector, secure, transparent, compliant, and reliable infrastructure will become the core foundation for the industry's long-term development. Gate Europe continues to advance its European compliance efforts, having obtained Europe's MiCA and PI licenses under the supervision of the Malta Financial Services Authority (MFSA), strengthening its global compliance framework. Looking ahead, Gate Europe will continue to uphold responsible innovation, building a more transparent, compliant, and trustworthy digital asset service environment, and providing individual and institutional users with services that connect to a broader financial ecosystem.
Bitcoin Treasury Companies Shift Strategy: Selling BTC, Repaying Debt, and Betting on AI as Stock Plunges Force Strategic Pivot
Odaily News As Bitcoin prices have experienced a significant correction, publicly listed companies that had accumulated large BTC holdings are facing multiple challenges, including falling stock prices, debt pressures, and a deteriorating financing environment. Some of these companies are now starting to sell Bitcoin, repay debts, and even pivot towards artificial intelligence (AI) data center operations.Strategy pioneered the "Digital Asset Treasury (DAT)" model, continuously purchasing Bitcoin through financing and borrowing, inspiring a wave of other listed companies to follow suit. However, as the BTC price has fallen approximately 50% from its peak of around $126,000 in October 2025, the stock prices of related companies have also shrunk significantly, forcing them to reassess their BTC accumulation strategies.This week, shareholders of London-listed company Satsuma Technology approved the liquidation of all 668 BTC, returning capital to shareholders, while proceeding with delisting. Another London-listed company, The Smarter Web Company, sold 178 BTC to repay its convertible debt.Additionally, Sequans Communications has sold 1,025 BTC and further sold nearly 80% of its remaining holdings to repay convertible bonds. The company stated it will not continue purchasing Bitcoin in the future and plans to sell the remaining approximately 658 BTC.Nakamoto's stock price has fallen approximately 99% since its SPAC listing in May 2025. The company recently sold about 284 BTC, raising approximately $20 million for working capital. Of its remaining approximately 5,342 BTC, nearly 70% has been pledged as collateral for loans from Kraken, which market observers believe poses a potential risk event.Meanwhile, Bitcoin mining companies are also adjusting their strategies. Companies like Bitdeer Technologies and MARA Holdings are selling portions of their BTC to repurchase shares, repay debts, and redirect energy resources and computing infrastructure towards AI data center operations.Other companies selling BTC include Empery Digital. Data shows that Strategy has recently sold approximately 3,620 BTC and has authorized further asset sales to maintain its U.S. dollar reserves.However, Strategy remains the world's largest corporate holder of Bitcoin, with holdings exceeding 840,000 BTC. The company's CEO, Michael Saylor, stated that while it may sell some Bitcoin in the future to pay dividends, this does not mean the company is exiting its Bitcoin investment.Beyond asset adjustments, management and capital operations at some Bitcoin treasury companies are also changing. Jack Mallers has stepped down as CEO; and Bitcoin Standard Treasury Company (BSTR), affiliated with Adam Back, failed to complete a proposed merger due to the deteriorating market environment.Analysts believe that with rising financing costs and increased BTC price volatility, the "borrowing to buy Bitcoin" treasury model is undergoing a reshuffle. Some companies are shifting from simply hoard
Standard Chartered: Maintains Bitcoin Price Forecast of $100,000 by End of 2026
Odaily Odaily Planet Daily reported that Geoffrey Kendrick, Global Head of Digital Asset Research at Standard Chartered, stated that the market has misinterpreted Michael Saylor's adjustments to Strategy Inc.'s bitcoin strategy, and the recent selling pressure stems from confusion over this strategy rather than a change in bitcoin's long-term outlook. Strategy Inc. is shifting bitcoin from being a reserve accumulation asset to serving as collateral to support its STRC preferred stock. Kendrick maintains the bitcoin price forecast of $100,000 by the end of 2026. As of press time, BTC was trading at $64,322.89, and Strategy's stock MSTR closed at $94.64 on Friday. The outstanding notional value of STRC is approximately $10 billion, which Kendrick believes makes the preferred stock heavily overcollateralized due to its bitcoin backing. (Bitcoin.com News).
South Korea’s Tax Tribunal Orders Reinvestigation of Gift Tax Assessment in Case Involving Bitcoin Transfers via Spouse’s Account
According to Digital Asset, South Korea’s Tax Tribunal recently decided to conduct a new investigation into a case where Bitcoin transferred from a spouse’s overseas exchange account to the taxpayer’s domestic account was classified as a “gift” and taxed accordingly. In the case, the taxpayer argued that the Bitcoin in question originally belonged to them and was merely routed through their spouse’s account due to travel-related regulatory restrictions; furthermore, the Bitcoin remained in the spouse’s account for only a short period and thus should not be considered a gift.
CoinShares: Digital Asset Investment Products See $1.07 Billion Weekly Net Outflow, Ending Six-Week Streak of Net Inflows
CoinShares’ latest weekly report shows that digital asset investment products experienced a net outflow of $1.07 billion last week—the first negative weekly flow in seven weeks and the third-largest single-week outflow of 2026. Bitcoin saw a net outflow of $982 million, while Ethereum recorded a net outflow of $249 million. In contrast, XRP and Solana saw net inflows of $67.6 million and $55.1 million, respectively. By region, the U.S. posted a net outflow of $1.14 billion, while Switzerland, Germany, and the Netherlands recorded net inflows of $22.8 million, $22.0 million, and $7.5 million, respectively. Total assets under management declined from $159 billion the previous week to $157 billion.
Morgan Stanley: It will still take time for Bitcoin to enter U.S. bank balance sheets, but preparations are already underway.
According to CoinDesk, Amy Oldenburg, Head of Digital Asset Strategy at Morgan Stanley, stated at the Bitcoin Conference in Las Vegas that U.S. banks may hold bitcoin on their balance sheets in the future—but the timeline remains uncertain due to guidance from the Federal Reserve, the Basel Accords, and global regulatory requirements. Meanwhile, Morgan Stanley’s recently launched MSBT—the first bank-issued bitcoin ETP—drew over $100 million in inflows within its first six days of listing, all sourced exclusively from self-directed investment channels and not yet made available to financial advisors. Oldenburg noted that slow adoption by the advisor channel stems primarily from an education gap; the bank has initiated internal training programs to address this and is applying for a digital trust charter from the Office of the Comptroller of the Currency (OCC) to support direct custody of crypto assets and spot crypto trading services.
Polymarket probability of “CLARITY Act takes effect in 2026” rises to 67%, up 21% in 24 hours
The Odaily Seer Prophecy Channel monitors that the probability of Polymarket's "CLARITY Act takes effect in 2026" has risen to 67%, up 21% in 24 hours.The event contract rules state: If the Digital Asset Market Clarity Act of 2025 (H.R.3633) is passed by both chambers of the U.S. Congress and signed into law before 11:59 PM Eastern Time on December 31, 2026, the outcome is "Yes"; otherwise, it is "No." The primary source of information is the Congress.gov website (https://www.congress.gov/bill/119th-congress/house-bill/3633) and other official U.S. government information, although other reliable reports may also be referenced.Coinbase has indicated that key disagreements regarding stablecoin holding yield provisions have been resolved with traditional banking institutions, clearing the way for the U.S. Senate to advance the crypto market structure bill. Previously, banks had lobbied to restrict or prohibit exchanges from offering yields to stablecoin holders, primarily due to concerns over capital outflows from the deposit banking system. Coinbase Chief Policy Officer Faryar Shirzad stated that the final plan, while adding some restrictions, still preserves room for users to earn rewards through crypto platforms and networks based on actual usage scenarios. This development is expected to push the CLARITY Act toward a voting process in the Senate Banking Committee.The Odaily Seer Prophecy Channel continues to monitor the prediction market, seeing changes before pricing.
IRS Warns Crypto Holders: Scammers Are Sending Fake Letters by Mail to Steal Assets or Data
according to Bloomberg, the U.S. Internal Revenue Service (IRS) is warning crypto asset holders that scammers are contacting some taxpayers by mailing fake letters in an attempt to steal their digital assets or personal data.The IRS stated that these letters may require taxpayers to register for a so-called "Digital Asset Compliance Portal," but this portal does not exist. The IRS also reminds users not to scan suspicious QR codes, and not to answer or comply with calls demanding payment.While phishing and digital scams are not new to the crypto industry, sending fake IRS notifications through physical mail appears to be a novel scam tactic. As the IRS has indeed sent taxpayers letters related to digital assets in the past, and the surge in crypto tax filing notices last year has led to confusion among many taxpayers, scammers may be exploiting this familiarity to disguise their attempts.As the U.S. tax system requires taxpayers to disclose their crypto asset activities on tax returns, communication between the IRS and digital asset holders has become more common. This also makes fake tax notices more deceptive. For crypto users, encountering "IRS letters" involving portal registration, QR code scanning, wallet connections, or payment demands warrants extra caution and should be verified through official channels.
Senator Lummis' X Account Hacked, Fake Solana Meme Coin Scam Deleted Within Five Minutes
According to BeInCrypto, the official verified X account of U.S. Senator Cynthia Lummis was hacked on July 29. The account briefly posted a fake Solana Meme coin promotion post named $USA Token, featuring a pump.fun minting link. The post was deleted within approximately five minutes, accumulating around 5,600 views and 37 replies during that period. Crypto community users quickly issued warnings, and there are currently no records of financial losses. Lummis's office had not released any statement as of press time. The timing of this incident is sensitive, coinciding with the stalemate of the "Digital Asset Market Transparency Act" (CLARITY Act) championed by Lummis in Congress.
Standard Chartered Bank: Aave is expected to rise to $3,500 by 2030, an increase of approximately 50x from its current price.
According to CoinDesk, Geoff Kendrick, Head of Digital Asset Research at Standard Chartered Bank, released a report initiating coverage of the decentralized lending protocol Aave, with a target price of $3,500 by end-2030—approximately 50 times its current price of around $70—and expects Aave to outperform both Bitcoin and Ethereum. Kendrick stated that Aave has recovered from the April 2026 KelpDAO rsETH bridge vulnerability incident, during which attackers used approximately $290 million worth of stolen tokens as collateral to borrow real assets on Aave, exposing the protocol to up to $230 million in potential losses. Assets have now begun flowing back onto the platform, and Aave’s dominant position in on-chain lending remains solid. Looking ahead, Standard Chartered forecasts that the value of tokenized assets actively used in DeFi applications will grow 37-fold by 2030. Aave—whose revenue model is directly tied to lending activity—is poised to benefit directly. Additionally, Aave’s Horizon initiative (enabling tokenized real-world asset lending in permissioned environments) and the potential relaunch of its token buyback program are viewed as key catalysts.
WTW Acquires Digital Asset Insurance Platform Redefind, Plans to Launch Crypto Asset Protection Services First in the UK
According to GlobeNewswire, WTW, a global leader in insurance and risk management, has announced the acquisition of digital asset insurance platform Redefind to strengthen its digital asset protection services. As disclosed, Redefind provides an end-to-end platform for cryptocurrency and digital asset insurance access. WTW plans to initially launch an unhosted loss recovery insurance solution in the UK to cover related expenses—including forensic investigations, asset tracing, and legal recovery—following theft or loss of digital assets.
Minnesota Governor Signs Bill Allowing State-Chartered Credit Unions to Offer Digital Asset Custodial Accounts
Governor Walz of Minnesota has signed legislation enabling state-chartered credit unions to offer digital asset custody accounts. The bill aims to allow Minnesota residents to manage their crypto assets more securely under regulatory oversight and strengthen protections against fraud, hacking, and asset loss. Minnesota Credit Unions also thanked co-sponsors Reps. Perryman and Elkins and Sen. Seeberger for advancing this legislation.
CertiK Report: North Korean Hackers Caused ~60% of Digital Asset Thefts in 2025, Attack Pattern Shifts Toward 'Offline Infiltration'
Odaily, Web3 security firm CertiK has released the "Skynet North Korean Crypto Threat Report." Data shows that since 2016, North Korean hacking groups have accumulated approximately $6.75 billion in stolen digital assets. In 2025 alone, their thefts amounted to $2.06 billion in losses, accounting for nearly 60% of the total annual losses in the global crypto industry (including the $1.5 billion Bybit hack). As of early 2026, this threat trend continues, with losses attributable to them making up about 55%.The report emphasizes that the North Korean hackers' attack patterns have fundamentally shifted, evolving from mere code vulnerability exploitation into a state-level attack system combining social engineering, deep supply chain attacks, and 'physical infiltration.' In the recent Drift protocol incident, attackers even spent six months infiltrating offline industry conferences, building trust through real financial transactions and personal interactions before launching the attack.CertiK security experts warn that in the face of such systemic attacks, purely technical defenses are proving inadequate. Crypto institutions urgently need to fully implement a 'zero-trust' hiring model, reinforce third-party supply chains, establish fund circuit breaker mechanisms, and collaborate with professional security firms to build a full lifecycle defense system covering code auditing, round-the-clock risk monitoring, and on-chain anti-money laundering/KYT (Know Your Transaction) fund tracking.
SEC Proposes New Crypto Rules: Establishing a Token Investment Contract Safe Harbor with Offering Cap of Up to $75 Million
Odaily News: The U.S. Securities and Exchange Commission (SEC) has proposed rules related to crypto assets, aiming to establish a clear framework for eligible investment contracts and provide a targeted securities offering regime for token issuances, enabling related entities to raise funds while retaining investor protection measures. The proposed rules would allow crypto companies to issue up to $5 million in tokens over four years, or up to $75 million in tokens within 12 months, and provide a safe harbor to prevent cryptocurrencies from being deemed "investment contracts." Issuers would be required to disclose financial statements and provide ongoing reporting. The SEC did not include the previously anticipated "innovation exemption" for crypto stocks. The proposal comes just days after the U.S. Senate failed to advance the Digital Asset Market Clarity (CLARITY) Act; the public will have 60 days to submit comments after the proposal is published in the Federal Register. SEC Chair Paul Atkins stated that congressional legislation remains essential for establishing rules that can be applied over the long term, and the SEC will continue to support Congress in advancing the CLARITY Act to President Trump. The Commodity Futures Trading Commission (CFTC) plans to discuss cryptocurrency, AI, and prediction market regulation on Thursday. (Cointelegraph)
Israel’s Bank Leumi to Launch Bitcoin and Other Digital Asset Trading Services by 2027
Odaily News – Israel's Bank Leumi has announced a partnership with Galaxy Digital to offer clients bitcoin and other digital asset trading services starting in 2027. The initial offerings will include Bitcoin, Ethereum, Solana, and others, making Bank Leumi the first bank in Israel to provide digital asset trading services to its clients. In addition, Leumi will integrate Galaxy's digital asset custody infrastructure platform to provide underlying security architecture support for the bank's digital asset services. (PRNewswire)
South Korean Lawmaker Park Soo-young Calls for Withdrawal of Virtual Asset Tax Plan
According to Digital Asset reports, South Korea People Power Party lawmaker Park Soo-young stated that taxing virtual asset gains is equivalent to requiring investors who do not invest in domestic stocks to bear "tax pressure," and called on the government to withdraw the relevant plan. He believes that while abolishing financial investment income tax to support the domestic stock market, imposing "punitive tax" only on digital assets is unreasonable and may accelerate capital flow overseas.
CLARITY Act will hold a procedural Senate vote on September 15, requiring 60 votes to advance
Odaily News: The U.S. Senate will hold a procedural cloture vote on a motion related to the Digital Asset Market Clarity Act (CLARITY Act) at 2:15 PM ET on September 15. This marks the first full Senate vote on the bill since it passed the House in July 2025. The bill is numbered H.R. 3633 and was previously passed by the House with 294 votes in favor and 134 votes against. The vote concerns whether to limit debate on the motion to proceed with the bill; supporters need 60 votes to succeed. Republicans currently hold 53 seats in the Senate. If all Republican senators vote in favor, they would still need 7 additional votes; any absence or opposition would increase the number of additional votes required. If the procedural vote passes, the subsequent debate time on the motion to proceed will be capped at 30 hours, after which the Senate will vote on the motion itself. Only if the motion is approved will the bill be formally considered, and the bill itself will still need to pass another 60-vote cloture motion. If the Senate amends the text, the revised version would need to be sent back to the House for a vote. (Bitcoin.com News)
Grayscale: Failure of CLARITY Act Could Drive New US Crypto Investment Overseas
Odaily News: Grayscale Head of Research Zach Pandl said that even if the Digital Asset Market Structure Clarity Act (CLARITY Act) is not passed, the operation of major blockchains, demand for Bitcoin as a store of value, and growth of stablecoin payments will not be immediately affected. Regulators will fill regulatory gaps through rulemaking. Zach Pandl noted that the lack of comprehensive market structure legislation could dampen new investment activity in the US, prompting crypto industry participants and startups to move to overseas jurisdictions with clearer regulatory frameworks. The US government will continue to support the development of the crypto ecosystem. Strategy co-founder and Executive Chairman Michael Saylor previously stated that regardless of whether the CLARITY Act is passed, Bitcoin will continue to develop, but the US needs regulatory clarity for digital assets. Senator Bernie Moreno said that Senate Democrats and Republicans have concluded related negotiations, and a vote will follow.
U.S. Senate to Hold Procedural Vote on Advancing CLARITY Act on September 15
Odaily News: U.S. Senate Majority Leader John Thune has filed a motion to invoke cloture on the motion to proceed to consideration of the Digital Asset Market Clarity Act (CLARITY Act), with the Senate scheduled to hold the related procedural vote on September 15. The vote is expected to take place when the Senate reconvenes at 2:15 PM ET that day. The motion requires 60 votes to pass, meaning Republican lawmakers will need Democratic support to clear the procedural threshold. The two parties are still negotiating over provisions such as ethics rules and stablecoin reward regulations, with those differences having previously prevented an agreement before the August recess. This vote only concerns whether to begin floor consideration of the bill and does not represent a final vote or passage by the Senate. The CLARITY Act aims to establish a federal market structure for digital assets, clarify the conditions under which certain crypto assets are subject to securities or commodities law, and define the regulatory responsibilities of the U.S. Securities and Exchange Commission and the U.S. Commodity Futures Trading Commission.
Related news
RWA Trading May Reshape DeFi Platform Economics; Trade.xyz Could Demand Higher Fee Share if It Accounts for 90% of Hyperliquid's Trading Volume
Odaily News According to Lorenzo Valente, Head of Digital Asset Research at investment firm ARK Invest, trading venues dedicated to Real World Assets (RWA) can scale with minimal reliance on Bitcoin and Ethereum liquidity, driving RWA liquidity to diverge by asset class.On July 23, Valente stated that DeFi is entering a new phase. Data shows that RWA accounts for 54% of Hyperliquid's weekly trading volume, with individual stocks representing 61% of that RWA volume; decentralized exchanges recorded $79 billion in perpetual futures trading volume during the same period, with Hyperliquid accounting for $50 billion of that total.Valente believes that if Trade.xyz accounts for 90% of Hyperliquid's trading volume, it could demand a higher share of user fees. Most popular applications will continue to rely on shared infrastructure, and only when the cost of operating independently exceeds the value of the liquidity, users, and security they rent will they consider building their own chain. (Bitcoin.com News)
South Korean Government: Virtual Asset Income from Personal Wallets and Overseas Exchanges Will Also Be Taxed
According to Digital Asset, the South Korean government stated that digital assets held by residents through personal wallets or overseas exchanges will, in principle, be subject to taxation if they generate income from transfers or lending. The digital asset tax will take effect on January 1, 2027, and will be classified as other income, subject to a 2.5 million won deduction and a 20% tax rate, with a maximum effective rate of 22% including local taxes.
Trump White House Crypto Event Urges Advancement of Clarity Act
Trump is expected to attend the White House crypto meeting on August 19, pushing for a final Senate vote on the Digital Asset Market Clarity Act, with the bill's ethical provisions remaining the key sticking point.
SEC Proposes New Crypto Rules: Establishing a Token Investment Contract Safe Harbor with Offering Cap of Up to $75 Million
Odaily News: The U.S. Securities and Exchange Commission (SEC) has proposed rules related to crypto assets, aiming to establish a clear framework for eligible investment contracts and provide a targeted securities offering regime for token issuances, enabling related entities to raise funds while retaining investor protection measures. The proposed rules would allow crypto companies to issue up to $5 million in tokens over four years, or up to $75 million in tokens within 12 months, and provide a safe harbor to prevent cryptocurrencies from being deemed "investment contracts." Issuers would be required to disclose financial statements and provide ongoing reporting. The SEC did not include the previously anticipated "innovation exemption" for crypto stocks. The proposal comes just days after the U.S. Senate failed to advance the Digital Asset Market Clarity (CLARITY) Act; the public will have 60 days to submit comments after the proposal is published in the Federal Register. SEC Chair Paul Atkins stated that congressional legislation remains essential for establishing rules that can be applied over the long term, and the SEC will continue to support Congress in advancing the CLARITY Act to President Trump. The Commodity Futures Trading Commission (CFTC) plans to discuss cryptocurrency, AI, and prediction market regulation on Thursday. (Cointelegraph)
Fundstrat: Bitcoin May See ~30% Sharp Moves in the Next 60 Days, Direction Uncertain
Fundstrat Head of Digital Asset Strategy Sean Farrell stated that Bitcoin's price volatility over the past 30 days is at one of the lowest levels in history, and historical data shows that periods of low volatility are often followed by significant price movements. In the 8 similar instances tracked, Bitcoin's median absolute price change over the subsequent 60 days was 30.2%, with 4 increases and 4 decreases, indicating that the signal primarily points to the magnitude of volatility rather than a specific direction.Farrell also noted that Monday's roughly 2% rebound in Bitcoin was mainly driven by short covering, with open interest on a coin-based basis falling about 8% since last Friday. He believes that persistently rising real yields could act as a potential catalyst to break Bitcoin out of its current low-volatility state. (beincrypto)
Israel’s Bank Leumi to Launch Bitcoin and Other Digital Asset Trading Services by 2027
Odaily News – Israel's Bank Leumi has announced a partnership with Galaxy Digital to offer clients bitcoin and other digital asset trading services starting in 2027. The initial offerings will include Bitcoin, Ethereum, Solana, and others, making Bank Leumi the first bank in Israel to provide digital asset trading services to its clients. In addition, Leumi will integrate Galaxy's digital asset custody infrastructure platform to provide underlying security architecture support for the bank's digital asset services. (PRNewswire)