News linked to both this project and an event.
According to Crypto in America, White House Chief Crypto Advisor Patrick Witt will depart for the Georgia Army National Guard to participate in JAG (Judge Advocate General) training starting July 27, and is expected to conclude his work at the White House by next Friday. The timing of this departure is sensitive, coinciding with Senate Republicans accelerating the crypto market structure legislation, the CLARITY Act, striving to complete legislation before Congress's August recess; otherwise, this session of Congress may miss the window for passage. Witt had previously postponed the training originally scheduled to start in April to continue leading the CLARITY Act negotiations, including coordinating core controversies such as stablecoin yields, ethics clauses, and law enforcement agency concerns, but a second postponement is no longer possible. During his absence, Deputy Director Harry Jung will take over related responsibilities. Witt previously also led important policy issues such as the implementation of the strategic Bitcoin reserve and the enactment of the GENIUS Act; whether he will return after the training ends remains unclear.
Fox Business crypto reporter posted on X platform, stating that this week there will be a dense schedule of economic data, Fed speeches, and further clarification on the status of the Clarity Act. Key points to watch include: the latest inflation data such as CPI and PPI, which could influence market expectations for the Fed's next interest rate decision; Fed Chairman Kevin Warsh will submit the semiannual monetary policy report to Congress and may face questions from lawmakers on Fed-related topics, with Michelle Bowman, Chris Waller, Michael Barr, Lisa Cook, and several regional Fed presidents also expected to speak; the updated version of the Clarity Act will merge texts from the Senate Banking Committee and the Senate Agriculture Committee. Some industry sources indicate that key clauses are still under "active negotiation" and the ethics agreement is "not yet finalized." It remains unclear how this will impact the timing of a full Senate vote, with many hoping the vote could be scheduled as early as the week of the 20th.
Odaily, Bitget announced that the Assets Under Management (AUM) for its stock token (rToken) product has exceeded $100 million within one month of launch. As of July 6, the number of users participating in related asset trading surpassed 100,000, with cumulative trading volume reaching $671.37 million.Looking at asset distribution, rSPCX is the rToken with the highest TVL, accounting for 23.51%; rCSCO and rNVDA follow with 17.75% and 13.38%, respectively. The overall ranking indicates that early demand for rTokens was primarily driven by high-interest private market assets and technology-related targets. Among these, AI infrastructure assets, covering areas such as networks, chips, storage, and semiconductors, have formed a significant demand cluster.It is reported that rTokens, identified by the prefix "r" followed by the stock ticker (e.g., rNVDA for NVIDIA), are issued by Reality, a licensed RWA protocol under Bitget. By partnering with the compliant brokerage Alpaca, they directly connect to global liquidity pools such as Nasdaq and the NYSE. Key features include: 1:1 reserve backing of underlying assets held by a licensed custodian, 1:1 distribution of stock dividends in token form, synchronized mirroring of corporate actions like stock splits and reverse splits, and the ability to use holdings as joint margin for unified accounts and USDT-margined contracts. This allows users to hold global stock assets while still flexibly managing their capital.
Crypto journalist Eleanor Terrett tweeted that Judge Analisa Torres of the U.S. District Court for the Southern District of New York denied its preliminary injunction application in the case involving Kalshi, allowing the case to proceed to the motion to dismiss stage. The court held that New York State gambling law applies to Kalshi's sports event contracts, and such application is not preempted by the Commodity Exchange Act. This ruling means Kalshi has suffered another unfavorable setback in the relevant legal dispute.
the UK Financial Conduct Authority (FCA) officially published its crypto asset regulatory framework this week, widely regarded by the industry as an international approach emphasizing "global liquidity access," but its implementation still faces significant compliance and approval challenges.Under the new rules, the FCA allows overseas trading platforms to serve UK users through locally authorized branches and access global trading infrastructure, thus avoiding the formation of a closed domestic liquidity pool. Meanwhile, stablecoins not issued in the UK can also circulate in the British market, a stance seen as distinctly different from the regional isolation model of the EU's Markets in Crypto-Assets Regulation (MiCA). The "Qualified Crypto Asset Trading Platform" (QCATP) mechanism within the new rules is viewed as a key structure connecting global exchanges with the UK market, potentially enhancing price efficiency and market depth. However, industry insiders point out that the FCA has yet to clarify which jurisdictions are deemed to have "comparable regulatory protections," a uncertainty that could affect corporate planning decisions.Furthermore, rules related to decentralized finance (DeFi) remain not fully clarified. Some practitioners fear that initial proposals might restrict centralized platforms from accessing the DeFi ecosystem, potentially leaving the UK behind other jurisdictions in this area of innovation.On the compliance front, lawyers point out that under the new Financial Services and Markets Act framework, the authorization process could be extremely stringent. Historical data shows that the FCA's anti-money laundering registration application approval rate is less than 15%. The new system will also cover multiple regulatory requirements including consumer duty, capital adequacy, operational resilience, and senior manager accountability, significantly raising the entry barrier.Industry observers believe the framework overall provides an institutional foundation for institutional capital to enter the crypto market. However, whether the UK can truly become a global crypto hub will depend on the certainty of regulatory enforcement and approval efficiency in the coming months. (CoinDesk)
Odaily News: Tom Lee posted on X, expressing that he is pleased to see the Ethereum Foundation prudently addressing key issues related to financial infrastructure, economics, and the critical role of neutral blockchains like Ethereum in government and policy markets.
the core US crypto regulatory bill, the "Digital Asset Market Clarity Act" (Clarity Act), has entered a critical two-week negotiation cycle for legislation. The Senate will be in recess until July 13. During the recess, bipartisan staff, the White House, and representatives from the crypto industry will continue to negotiate outstanding differences in the bill, focusing on resolving disputes over topics such as the integration of the two bill versions from the Senate Banking Committee and the Agriculture Committee, ethics clauses, and anti-money laundering rules.If all parties successfully reach a unified compromise version, the bill could be submitted for a full Senate vote as early as late July to early August. The market generally believes that the period before the August congressional recess is the only window for the bill to be passed this year. If the vote is not completed during this phase, the probability of the bill being enacted into law within 2026 will significantly decrease. (Crypto in America)
Miller Tabak strategist Matt Maley and 22V Research technical strategist John Roque believe Bitcoin is at a key technical indicator level.Matt Maley stated that if Bitcoin declines further from its current level of around $60,000, it could amplify negative investor sentiment. Although Wall Street firms continue to invest in digital assets, retail investors, who have historically been the main force driving cryptocurrency rallies, have shifted their focus to high-growth AI and tech stocks. Recent significant outflows from Bitcoin ETFs indicate waning investor enthusiasm. Cryptocurrencies are also showing signs of decoupling from the stock market.John Roque noted that Bitcoin is retesting its first downside target of $60,000. If it breaks below this level, it implies a potential drop to $400,000. Matt Maley added that Congress might pass a crypto structure bill with clearer rules, which would reduce uncertainty and encourage institutional participation in the long run. Furthermore, Bitcoin ETFs experienced their largest monthly outflow since 2024 recently. (CNBC)
Monitoring by the PPP Prediction Market Tool shows that on Polymarket, the probability of the "Fed raising interest rates by 25 basis points at the July meeting" has dropped to 18.1%, while the probability of "maintaining the current interest rate" has risen to 81%. The total trading volume for this event has reached $21.74 million.The market currently widely expects the Fed to remain on hold at the FOMC meeting scheduled for July 28-29. Although the US CPI rose 4.2% year-over-year in May, and energy prices have surged due to tensions in the Middle East, keeping inflationary pressures alive, after the Fed kept the federal funds rate target range unchanged at 3.50%-3.75% at the June meeting, the market is leaning towards waiting for more economic data before deciding on the subsequent policy path. Key economic indicators to be released on July 14, including the US June CPI data, as well as employment and wage figures, will be important variables influencing the outcome of the July meeting.The Odaily Seer Prophets Channel continues to monitor the prediction market, seeing changes before they are priced in.
According to Odaily, the U.S. Commodity Futures Trading Commission (CFTC) and the U.S. Securities and Exchange Commission (SEC) have jointly released a document seeking public comments on further harmonizing the regulatory framework for portfolio margin and cross-margining of securities, security-based swaps, futures, swaps, and related positions. Key areas of focus include existing portfolio margin models and practices, customer protection, cross-margining and cross-product offsets, capital and margin and collateral treatment, clearing agency and clearing organization arrangements, and technical and operational implementation. The comment period is 60 days from the date the document is published in the Federal Register.
According to The Wall Street Journal, blockchain public-chain data analysis shows that Iranian entities have conducted over $3.84 billion in transactions via the cryptocurrency exchange CoinEx to circumvent U.S. economic sanctions. Investigators traced funds linked to two digital wallets controlled by the Central Bank of Iran and found connections to the $1.5 billion stolen by North Korean hackers from the Bybit exchange. After flowing through complex, multi-layered transaction paths, these funds ultimately entered CoinEx—making it one of the central channels through which Iran uses cryptocurrencies to bypass sanctions.
According to iGB, the Curacao Gaming Authority (CGA) has officially released its Cryptocurrency Policy Guidelines for B2C online gambling licensees, requiring all group entities involved in cryptocurrency transactions to comply with global Anti-Money Laundering/Countering the Financing of Terrorism (AML/CFT) frameworks, with a phased implementation deadline extended to mid-2027. Key requirements include: licensees may only accept cryptocurrencies for gambling purposes and must not act as exchanges, custodians, or Virtual Asset Service Providers (VASPs); mandatory deployment of blockchain analytics capabilities for wallet risk scoring and transaction monitoring; preference for fiat-backed stablecoins, while privacy coins, meme coins, and wrapped tokens with unclear provenance must be assessed or excluded; player, operational, and treasury wallets must be strictly segregated, with personal or UBO-associated wallets prohibited; funds linked to mixers, tumblers, or sanctioned addresses are strictly prohibited. Regarding the compliance timeline, operators must submit their cryptocurrency compliance policy to the CGA within three months, complete risk assessments and staff training within six months, and achieve full compliance—including wallet segregation, on-chain analytics deployment, and audit log maintenance—within 12 months (i.e., by June 2027). The CGA also reserves the right to require accelerated compliance in the event of material risk.
Bitget has listed 7 stock tokens including rSCHD (US Dividend Stock ETF), rYUM (Yum! Brands), rASST (Strive), and rDHI (D.R. Horton), covering popular sectors such as finance and consumer goods.It is reported that rTokens, identified by the prefix "r" + stock ticker symbol (e.g., rNVDA for NVIDIA), are issued by Reality, a licensed RWA protocol under Bitget. By partnering with the compliant broker Alpaca, these tokens are directly connected to global liquidity pools such as Nasdaq and NYSE. Key features include: 1:1 reserve backing of underlying assets held by licensed custodians, stock dividends distributed 1:1 in token form, synchronized mapping of corporate actions (such as stock splits and reverse splits), and the ability to use the holdings as cross-collateral for unified accounts and USDT-margined perpetual contracts, allowing users to hold global stock assets while flexibly managing their funds.
Bitget's compliant RWA issuance platform Reality announced today that the assets under management (AUM) of its rToken series of equity tokens have surpassed $50 million.Reality was officially launched in May this year. The rToken, identified by the letter "r" plus the stock ticker (e.g., rNVDA for Nvidia), connects directly to global liquidity pools such as Nasdaq and NYSE through a partnership with compliant broker Alpaca. Key features include: 1:1 reserve backing of underlying assets held by licensed custodians, 1:1 distribution of stock dividends in token form, and synchronized mapping of corporate actions such as stock splits and reverse splits.Additionally, rToken holdings can now be used as joint margin for Bitget's unified account and USDT-margined futures, significantly enhancing cross-asset capital efficiency. To date, Bitget has listed over 500 equity tokens issued by Reality, and some core assets like SpaceX and Nvidia already support weekend trading, providing 24/7 spot liquidity.
CryptoQuant analyst Axel Adler stated that Bitcoin weakened rapidly after the Federal Reserve held interest rates steady at 3.50%-3.75% and released a relatively hawkish dot plot, falling below the $64,000 mark and dropping about 4% from its intraday high.This meeting marked the Fed's fourth consecutive pause, but the latest dot plot indicates a significant shift towards a hawkish policy path: several officials now expect the possibility of further rate hikes this year, further diminishing the market's pricing of "rate cut expectations." Analysts believe this change has a greater impact than the rate decision itself, directly suppressing risk asset valuations.Market data shows that Bitcoin initially surged to around $66,400 following the announcement, before quickly reversing downward amid heavy selling pressure, hitting a low of approximately $63,870. Trading volume notably expanded, indicating active selling-driven declines. The price is currently consolidating near the lower end of the $63,600–$64,000 range, with no significant inbound capital from bargain hunting.In stark contrast is gold's performance. Spot gold rapidly recovered after briefly dipping to around $4,220, climbing back above the $4,300 level to trade near $4,321, demonstrating strong defensive attributes and capital absorption capacity. Even against a backdrop of easing geopolitical risks, safe-haven demand remains resilient.Market participants pointed out that the core divergence in this round of reaction lies in the repricing of asset attributes: gold completed a swift recovery under the same macroeconomic shock, while Bitcoin failed to reclaim the key level of $64,000, highlighting the higher sensitivity of risk assets to "higher-for-longer interest rates."Overall, the market is transitioning from a phase of "loose expectations supporting risk assets" to one of "hawkish path suppressing valuations," with short-term risk appetite clearly cooling. The key observation point is whether Bitcoin can re-enter the $64,000–$65,000 range with volume confirming stability; otherwise, a weak consolidation structure may persist.
"Fed Whisperer" Nick Timiraos stated that there are three key points to watch in Warsh's first Fed meeting as chair:1. Will the "easing bias" language be removed? And if so, what will replace it? Since 2024, a sentence in the policy statement regarding "additional adjustments" has been signaling to the outside world that the next move in interest rates is more likely to be a cut than a hike. This language sparked dissent at the last Fed meeting and now appears increasingly untenable. Removing it could satisfy everyone: hawks want it gone, and Warsh can tout the move as a reform rather than a signal of a hawkish turn. Even Trump previewed this move during Warsh's swearing-in ceremony.2. Will the "dot plot" take over as a guidance tool? Who will predict a rate hike? The Fed will release its first interest rate projections since March; at that time, 12 of the 19 officials expected at least one rate cut in 2026. Now, most expect no cuts. I'm watching how many predict a hike—and whether Warsh, long skeptical of the dot plot, will submit his own projection or downplay its significance by not voting on it.3. How will Warsh communicate during the press conference? The Fed Chair's words can move markets only if people believe he commands a majority—that his words represent the committee's direction, not just his own views. Warsh leads a divided group that he may not fully control. If he faithfully conveys his colleagues' views, he can begin building the authority to speak for them; if not, colleagues will express themselves elsewhere (e.g., through dissenting votes). Under a chair inclined to reduce signaling, those "dissents" themselves may become the tools for sending signals. (Jinshi)
Benchmark has maintained a "Buy" rating for Coinbase with a $270 price target, implying approximately 59.5% upside from its Tuesday closing price of $169.27. The firm noted that Coinbase's latest "System Update" indicates it is accelerating its transformation from a crypto trading platform into an "everything exchange" that bridges traditional finance and the on-chain economy.Analyst Mark Palmer stated that this product update covers tokenized stocks, stock and crypto options, pre-IPO perpetual contracts, prediction markets, AI-driven investment tools, agent payment infrastructure, and retail financial products, signaling the continuous expansion of its business boundaries.Key progress highlighted by Benchmark also includes: the U.S. CFTC's approval for it to operate as a regulated Futures Commission Merchant (FCM), global derivatives capabilities obtained through the acquisition of Deribit, and integrating crypto perpetuals and options into a compliant framework, thereby achieving cross-market liquidity consolidation.Furthermore, the company's strategic moves in the Base ecosystem, prediction markets, and AI agent payments are also seen as key signals of its evolution from "spot crypto trading" to a comprehensive on-chain financial infrastructure. (The Block)
According to Livecoins, on June 8, Brazilian Federal Deputy Lincoln Portela (PL-MG) submitted Bill No. 2901/2026, proposing the establishment of a “National Framework for Fintech and Digital Financial Platforms.” Key provisions of the bill include: establishing a “National Permanent Financial Sandbox” to provide a continuous testing environment for blockchain technologies and tokenized crypto assets; placing regulatory oversight under the Central Bank of Brazil, with differentiated, low-barrier compliance standards for small- and medium-sized fintech startups; permitting companies to share network infrastructure and data to combat money laundering involving crypto assets; and introducing decentralized digital identity and biometric technologies to secure high-value transactions. Non-compliant entities may face fines of up to 20% of their annual profits and revenue. The bill is scheduled for review by the Chamber of Deputies’ specialized committee in the coming weeks.
Jake Brukhman, founder of CoinFund, stated that Anthropic’s latest export-control compliance measures reflect the growing regulatory focus on frontier AI models. He believes that building open, sovereign, decentralized AI networks will become a critical direction for industry development.
India's 2026 tax filing season imposes stricter compliance requirements on crypto investors. Although the tax framework has not undergone drastic changes, enforcement intensity and reporting details have significantly tightened, making the potential consequences of filing errors more severe.India has implemented the new Income Tax Act (2025) effective April 1, 2026, replacing the original 1961 Act. For the FY2025-26 tax year, crypto assets (VDAs) still need to be reported under the existing framework, but the execution requirements have been further refined. Specifically, Schedule VDA requires investors to report on a "per-transaction" basis rather than merely aggregating net gains, covering records of each transaction, exchange, and asset disposal. For users involved in cross-platform trading, DeFi operations, and multi-wallet transfers, data integrity and consistency have become core challenges.Analysis indicates that failing to fully report any crypto asset exchange or transaction could trigger compliance risk reviews, as regulators are increasingly demanding data matching and on-chain/exchange record verification. (Times of India)