News linked to both this project and an event.
According to The Block, JPMorgan analysts pointed out in their latest report that although Strategy's Bitcoin selling plan has triggered market attention, it is not the core risk facing Bitcoin. The real structural threat lies in the fact that blockchain applications such as tokenization, payments, and settlements are increasingly occurring on permissioned chains (Permissioned Blockchain), rather than on public chains such as Ethereum. If this trend continues, the public chain ecosystem will face issues such as declining liquidity and weakened capital inflows, ultimately dragging down Bitcoin valuations. The analysts also warned that the proliferation of bank-built blockchain infrastructure and tokenized deposits could undermine the position of stablecoins in institutional payments; regulated alternatives such as SWIFT's blockchain plan, the digital euro, and the digital yuan also constitute competitive pressure. However, the analysts also pointed out that if hybrid public-private chain models emerge, stablecoin regulation becomes clearer, or Bitcoin continues to be held as "digital gold", the aforementioned risks may be mitigated.
According to The Block, the U.S. Supreme Court ruled 6-3 in favor of Trump, expanding the president's power to remove heads of independent federal agencies (excluding the Federal Reserve). The case originated from Trump's dismissal of Democratic FTC Commissioner Rebecca Slaughter in 2025. As the ruling takes effect, the SEC and CFTC are in a new cycle of crypto regulation—the SEC currently has only three Republican commissioners, while CFTC Chairman Michael Selig is the agency's sole commissioner. Former regulatory officials warned that insufficient commissioner seats will undermine the quality of rulemaking and continuity across administrations, stating, "Fewer people participating in discussions may lead to suboptimal outcomes." Meanwhile, Congress is deliberating landmark legislation to reallocate digital asset regulatory authority between the SEC and CFTC and has urged Trump to appoint CFTC commissioners as soon as possible. Analysts pointed out that against the backdrop of Trump's close ties with the crypto industry, while this ruling is beneficial for the industry to advance regulatory reforms in the short term, if the political landscape shifts in the future, rules established by a sole commissioner will be more likely to become "targets for reversal," bringing long-term policy instability risks to the industry.
Odaily News Odaily News U.S. Commodity Futures Trading Commission (CFTC) Chair Michael Selig urged the U.S. Congress to pass the Clarity Act as soon as possible. In an interview with Fox Business, he stated that if Congress fails to complete the relevant legislation, regulatory bodies like the CFTC will ultimately have to "make all the cryptocurrency rules." Selig said: "We have to get the legislation done. We want to establish clear regulatory standards and protect consumers." (The Block)
According to The Block, Block agreed to pay $45 million to settle with regulators in nearly 50 U.S. states. Regulators alleged that its Cash App exaggerated platform security safeguards, describing it as having fund protection capabilities comparable to traditional banks, but failed to effectively prevent fraud and did not provide adequate customer support and fraud reporting channels.
the European Union is considering amendments to its Markets in Crypto-Assets Regulation (MiCA). The European Commission is soliciting feedback from relevant stakeholders, with the deadline set for September 30. According to multiple sources familiar with the matter, the Commission is evaluating whether to broaden MiCA's regulatory scope to encompass emerging areas such as tokenization and non-EU stablecoin issuers. MiCA officially came into effect in December 2024, with most service providers granted a transition period to complete compliance adjustments, which lasts until July 1 of this year. (The Block)
Odaily Planet Daily reported that Korean fintech company Toss has announced a partnership with Optimism and Sunnyside Labs to jointly explore a Korean won-pegged stablecoin.In the coming months, the three parties will conduct a Proof of Concept (PoC) test to evaluate the feasibility of building compliant blockchain-based digital financial infrastructure on OP Stack, providing technical verification for applications related to a Korean won stablecoin. (The Block)
According to The Block, South Korea's Upbit parent company Dunamu and Naver Financial announced that their stock swap transaction has been delayed again, with the latest deadline extended to December 31, 2026. This is the second delay for the transaction; previously, in March this year, it was postponed from June 30 to September 30. The two companies stated that the "Digital Asset Basic Act" currently being drafted in South Korea may affect the transaction's progress or even the final outcome. The bill contains controversial clauses proposing to cap the shareholding ratio of major shareholders in domestic crypto exchanges at 20%, which would directly impact Upbit's existing equity structure if implemented. Previously, the transaction plan involved Naver Financial issuing approximately 87.56 million new shares, with a total value of about 15.13 trillion Korean won (approximately 9.9 billion USD), to promote synergistic development between both parties in the fields of digital assets and the integration of AI and blockchain.
Odaily A federal judge for the U.S. District Court for the District of Connecticut has revived common law fraud claims in the Genesis Yield lawsuit against Digital Currency Group founder Barry Silbert, DCG, and other defendants, while allowing federal securities law claims in the case to proceed.The ruling amends a prior decision by the court from February of this year. The plaintiffs had argued that the court has jurisdiction to hear their state law claims under the Class Action Fairness Act. Judge Stefan Underhill accepted this argument and reopened the relevant state law claims.The case revolves around the defunct Genesis Yield lending program, which allowed users to deposit crypto assets and earn interest. Investors allege that Silbert, DCG, and other defendants misled customers about the company's financial health and risk controls before Genesis suspended withdrawals and filed for bankruptcy in early 2023.However, not all state law claims were revived. The court dismissed consumer protection claims from four states and stayed related claims from three others. Overall, the ruling re-centers the dispute regarding fraud liability for DCG and Silbert as a focal point of the case. (The Block)
tokenized sovereign debt startup M1X Global has completed a $5.5 million seed funding round, led by Paradigm, with participation from Breed VC and others.It is understood that M1X Global previously collaborated with the Republic of the Marshall Islands to assist in the issuance of the on-chain sovereign debt instrument USDM1. This product is a dollar-denominated tokenized sovereign debt instrument, 1:1 backed by U.S. Treasury bonds, and natively issued on a public blockchain by a sovereign nation. USDM1 was initially issued on Stellar and is now also available on Canton and Solana.Jordan Goldman, President and COO of M1X, stated that sovereign debt is one of the largest asset classes globally, but prior to USDM1, it did not exist in a native on-chain form. The company aims to establish USDM1 as on-chain sovereign collateral and expand its use within regulated financial markets.The initial application scenario for USDM1 is domestic government aid distribution. Citizens of the Marshall Islands can receive funds via the Lomalo wallet, with payments settling in seconds, bypassing the need for traditional correspondent banking networks. M1X also indicated that its recent integration with Bank of Guam, a U.S. FDIC-insured bank, further connects USDM1 to regulated banking infrastructure. (The Block)
According to The Block, Ripple announced it has obtained full MiCA CASP (Crypto-Asset Service Provider) authorization issued by the Luxembourg financial regulator CSSF, allowing it to legally provide crypto-asset services in all 30 countries of the European Economic Area.
South Korea's media regulatory body will give Polymarket a chance to respond before deciding whether to take corrective action against its prediction market platform. The regulator is reviewing whether Polymarket's services constitute illegal gambling, which is prohibited under South Korean law. (The Block)
Odaily, Tobias Adrian, Director of the Monetary and Capital Markets Department at the International Monetary Fund (IMF), stated that as assets migrate to shared digital ledgers, policy choices regarding the monetary system, market infrastructure, and legal frameworks will determine whether tokenization strengthens the integration of the financial system or leads to further fragmentation.The tokenized economy is forming three types of settlement assets: tokenized bank deposits, stablecoins, and tokenized central bank reserves. Tokenization is not just about faster payments or programmable assets; it involves migrating financial assets and liabilities to a unified ledger, compressing execution, clearing, and settlement into a synchronized process driven by software. This shift may also transfer risks from the balance sheets of traditional intermediaries to platforms, code, and infrastructure providers. (The Block)
On the eve of the U.S. Independence Day holiday, sentiment in the crypto market is gradually stabilizing. Bitcoin is holding above $61,000, and Ethereum has climbed above $1,700, continuing the rebound from the previous day. The unexpectedly weak U.S. non-farm payroll data earlier had cooled market expectations for further tightening by the Federal Reserve, rekindling demand for risk assets. Volatility in the options market has notably declined, with short-term implied volatility falling from recent highs into the low 30s range, as market sentiment shifts from panic hedging to relative calm. However, some institutions believe the data is not a one-sided "dovish signal." Accelerating wages and resilient consumer spending still support the Fed in maintaining a hawkish stance. The divergence between U.S. Treasury yields and stock market performance further indicates lingering disagreement over the policy path. (The Block)
U.S. CFTC Chairman Michael Selig has criticized Illinois for passing a 0.2% tax on cryptocurrency transactions, stating that the state's lawmakers have "hit the brakes on technological progress" and put local residents at a disadvantage in future digital asset innovation.Illinois Governor JB Pritzker signed the "Digital Asset Tax Act" last month as part of the state's fiscal year 2027 budget plan. The act imposes a 0.2% tax on crypto transactions and is scheduled to take effect in January 2027.Selig stated that just as the internet changed the way information is transferred, blockchain will change the way value is transferred. He believes that in the future, almost all assets, from commodities and currencies to stocks and bonds, could be tokenized. He argued that Illinois' move diverges from Washington's direction of promoting digital asset innovation and could lead to capital, businesses, and tech talent flowing to other jurisdictions.Previously, industry organizations such as the Crypto Council for Innovation, the Digital Chamber, and the Illinois Blockchain Association also strongly opposed the tax, warning that it could become one of the most stringent and anti-crypto state-level tax systems in the United States. (The Block)
Crypto bank Anchorage Digital has announced its integration with Lido, the largest liquid staking protocol on Ethereum, offering institutional clients direct access to its derivative asset, wstETH. Institutional users can now mint and redeem wstETH, earning Ethereum staking yields while benefiting from Anchorage’s custody and governance compliance framework. (The Block)
Robinhood has announced the official launch of the public mainnet for its proprietary Layer 2 network, Robinhood Chain. Built on the Arbitrum technology stack, the chain is positioned as an institution-grade, permissionless, AI-native network specifically designed for Real World Assets (RWA).Robinhood Chain's launch partners include Uniswap, Pleiades, Alchemy, BitGo, and Chainlink. Among them, Uniswap will deploy a dedicated AMM on the chain as the primary public liquidity protocol, while Pleiades will deploy its own AMM as the primary proprietary trading venue. The chain will also offer basic DeFi functionalities such as lending.Eligible users can trade tokenized stocks 24/7 on Robinhood Chain. Simultaneously, Robinhood Earn will introduce USDG-based decentralized lending products within the main app. In certain jurisdictions, the new version of Robinhood Wallet will also support access to Lighter's perpetual contract trading.Robinhood also announced the expansion of its European perpetual contract product range, its official entry into the Canadian market, and the acquisition of a Singapore Capital Markets Services license. Furthermore, Agentic Accounts for crypto trading are planned to begin rolling out in the US soon, allowing AI agents to participate in trading and fund management.Robinhood stated that this update represents its most ambitious global expansion and product vision to date, with the goal of establishing a more direct connection between traditional finance and DeFi, integrating stocks, crypto, RWA, perpetual contracts, and AI trading into a unified financial experience. (The Block)
According to The Block, the Legislative Yuan of Taiwan, China passed the "Virtual Asset Service Act" on July 1 upon third reading. The bill has been submitted to Taiwan regional leader Lai Ching-te for signature, and the implementation date is expected to be announced within 10 days. The core points of the bill are as follows: • Licensing Requirements: Virtual asset service providers must apply for permission from the Financial Supervisory Commission (FSC). Platforms that have completed AML registration have a 12-month application period and a 21-month approval period. • Stablecoin Regulation: Issuing or managing stablecoins requires dual approval from both the Central Bank and the FSC, and sufficient reserves must be maintained. • Compliance Requirements: Covering aspects such as cybersecurity, segregation of customer assets, and internal controls. • Criminal Penalties: Illegal operation carries a maximum sentence of 7 years imprisonment and a fine of up to NTD 100 million (approximately USD 3.14 million); crypto market manipulation carries a maximum sentence of 10 years and a fine of up to NTD 200 million (approximately USD 6.28 million). Industry insiders noted that crypto businesses previously operating in legal gray areas will no longer be able to rely on regulatory ambiguity. Traditional financial institutions will also be allowed to apply for VASP licenses in the future, and existing crypto businesses may face more intense competitive pressure.
the U.S. SEC stated on Tuesday that it is publicly seeking comments on the regulatory approach for "novel ETFs," evaluating whether existing fund registration and listing processes need adjustments. This review comes amid the rapid expansion of crypto ETFs and an increase in applications for prediction market-related ETFs.SEC Chairman Paul Atkins said the regulator wants to hear market opinions to ensure that the U.S. ETF market can effectively serve investors while continuing to grow and innovate. Since Atkins took over as SEC Chairman in April 2025, the SEC has approved multiple crypto ETFs beyond Bitcoin and Ethereum, including products tracking assets like SOL and DOGE.Currently, market attention is shifting towards prediction market ETFs linked to political and economic outcomes. The SEC has not yet approved such funds for listing and trading and has delayed several related applications. Atkins previously stated that the SEC will evaluate these products in a "transparent and prudent" manner.In this request for comment, the SEC is asking whether a standardized listing framework should be established for ETFs meeting specific criteria and whether certain novel ETFs need to register as investment companies. TD Cowen analysts believe that this request for comment could potentially lead to rule changes as early as 2027, allowing the SEC to permit a wider range of ETF types, including products based on event contracts, crypto assets, and single-stock strategies. (The Block)
the U.S. Securities and Exchange Commission (SEC) is seeking public comments on "novel ETFs" to evaluate its regulatory framework and market rule design. In the document, the SEC noted its ongoing attention to market interest in a variety of innovative products, including funds related to crypto assets, investment opportunities based on blockchain technology, and novel financial derivatives such as "event contracts."This request for comments is seen as a further proactive exploration by the SEC regarding the boundaries of ETF regulation. Particularly against the backdrop of sustained growth in demand for crypto ETFs, on-chain asset exposure products, and structured derivatives, regulators are attempting to find a new balance between innovation and risk control. (The Block)
According to The Block, the UK Financial Conduct Authority (FCA) officially released the final draft of the comprehensive crypto regulatory framework on Tuesday, covering prudential capital requirements, market abuse control, and stablecoin standards. The mandatory authorization regime will officially take effect on October 25, 2027. The framework applies to crypto trading platforms, custodians, stablecoin issuers, lending and staking service providers, as well as some DeFi entities with identifiable controlling entities. Market abuse rules cover insider trading and market manipulation. Stablecoin issuers must meet requirements for reserve backing, safeguarding of funds, and redemption disclosures, with the capital ratio reduced from 2% to 1%. The FCA will open the authorization application window from September 30, 2026 to February 28, 2027, and will provide pre-application support meetings starting from July this year. Existing anti-money laundering registration status will not be automatically converted, and relevant institutions must reapply for authorization. FCA Executive Director David Geale stated that the framework aims to provide regulatory certainty for the industry while preserving room for innovation.