News linked to both this project and an event.
According to an announcement by the Hong Kong Monetary Authority, the Financial Services and the Treasury Bureau (FSTB) and the Hong Kong Monetary Authority (HKMA) jointly announced on June 29 that they have completed the first-phase review on promoting the further application of Distributed Ledger Technology (DLT) in Hong Kong's fixed income market. The review results confirmed that Hong Kong's existing legal and regulatory environment is sufficiently flexible to support the issuance of tokenized bonds. The Companies Registry released frequently asked questions on the same day, clarifying that registers of debenture holders maintained using DLT comply with the relevant provisions of the Companies Ordinance. The next phase of the review will commence in the second half of this year, focusing on legal optimization issues such as allowing electronic signatures to execute tokenized bond issuance documents, as well as the "possession" and "transfer" of tokenized fixed income products, to promote the wider application of DLT in the fixed income market and the digital asset sector.
OdailyOdaily Planet Daily reports that Robinhood has officially announced on X that the Trump Account application (supporting iOS and Android) is now live and available to all eligible American families. Users can now activate their accounts, which will officially begin accepting deposits on July 4, 2026.Robinhood added that all US children under the age of 18 with a valid Social Security Number are eligible to open a Trump Account; eligible children born between 2025 and 2028 will receive an initial $1,000 contribution from the U.S. Treasury; family members, friends, and employers can contribute a combined maximum of $5,000 annually; the account is designed for long-term investment.The so-called "Trump Account," also known as a 530A Account, is a tax-deferred investment account plan authorized by then-President Donald Trump on June 9, 2025, under the "Big and Beautiful" Act. Its purpose is to establish government-funded savings accounts for children of US citizens born between January 1, 2025, and January 1, 2029. The Bank of New York Mellon has been designated as the financial agent for the Trump Account, while Robinhood serves as the designated broker-dealer and initial trustee.
According to a press release issued by the Hong Kong Government, today, Mr. Paul Chan, Secretary for Financial Services and the Treasury of Hong Kong, responded in the Legislative Council regarding stablecoin regulation, stating that the potential risks posed by stablecoins to the financial system have been thoroughly assessed. Licensed stablecoin issuers are explicitly required to implement appropriate risk management measures, including investing reserve assets in qualified assets such as bank deposits and high-quality, highly liquid bonds, and holding such assets at banks in Hong Kong. Where necessary, the Hong Kong Monetary Authority (HKMA) may impose additional regulatory requirements on licensees, depending on the circumstances, to safeguard financial stability. The HKMA will promote exploration of synergies and interoperability between compliant stablecoins and other new payment instruments to create value for the real economy and financial activities. Furthermore, only stablecoins regulated under the Stablecoin Ordinance—and purchased from designated, regulated institutions—are protected under the Ordinance. Purchasing unregulated stablecoins through unregulated channels entails bearing all associated risks personally.
the U.S. Federal Reserve, the Treasury Department, and other financial regulatory agencies have jointly released the implementation draft of the "GENIUS Act," requiring stablecoin issuers to comply with the Bank Secrecy Act (BSA) and implement Customer Identification Programs (CIP).According to the draft requirements, stablecoin issuers must verify user identities, maintain records of identity information such as names and addresses, and screen against terrorist organization and sanctions lists. The relevant rules have now entered a 60-day public comment period, and will be formally implemented after the final rule is issued.Additionally, Federal Reserve Governor Michael Barr expressed reservations about this framework, believing it inadequately addresses the risks of illegal financing in secondary market transactions. The proposal specifically solicits comments on whether customer identification requirements should be further extended to secondary market transactions. (CoinDesk)
the bond market is signaling increasingly restrictive interest rate expectations, which may continue to weigh on risk assets like Bitcoin. The spread between the U.S. 2-year and 10-year Treasury yields has narrowed to approximately 28 basis points, its tightest level since April 2025, indicating a clear flattening of the yield curve. This shift is widely interpreted as a heightened market expectation of tighter monetary policy or “higher for longer” interest rates.Skanda Amarnath, Executive Director of the policy research organization EmployAmerica, noted that this flattening trend is "one of the clearest market signals that the Federal Reserve is becoming more hawkish." In a more hawkish interest rate environment, the market anticipates rates remaining elevated for a longer period, which enhances the appeal of fixed-income assets and diminishes the investment demand for non-yielding assets such as Bitcoin.Beyond the 10-year to 2-year spread, the gap between the 30-year and 5-year Treasury yields has also fallen to its lowest level since last April, further reinforcing the overall flattening trend of the yield curve.Market participants believe this change represents a significant reversal from the environment earlier this year, which was characterized by a steepening curve and bets on rate cuts. In the latest round of policy signals, the Federal Reserve held interest rates steady, but its dot plot indicated a higher projected path for future rates compared to previous forecasts, with median interest rate expectations shifting upward across the board, strengthening the “higher for longer” narrative.Analysts suggest that if the high-interest-rate environment persists, risk assets like Bitcoin may struggle to stage a strong upward trend in the short term. The market could enter a phase of volatile downward pressure, intersecting with certain bottoming expectations tied to the halving cycle. (CoinDesk)
According to The Block, U.S. Senate and House leaders jointly released an updated version of the “Pathway to 21st Century Housing Act,” confirming a bipartisan agreement between both chambers. The bill’s core focus is housing affordability reform, including expanding housing supply and curbing market monopolization by corporate landlords. Notably, an attached provision explicitly prohibits the Federal Reserve from issuing or creating a central bank digital currency (CBDC) or any “substantially similar” digital asset before December 31, 2030—a clause spearheaded by Republican members of the House. The Trump administration maintains a consistent stance: Treasury Secretary Bessent has previously stated unequivocally that a CBDC is “not under consideration.” The bill will first undergo a procedural vote in the Senate and is expected to be submitted to the House for consideration after Congress resumes on June 23, following its recess; it will then proceed to the President for signature.
According to CoinDesk, Republican Senator Cynthia Lummis led a bipartisan group of senators in writing a letter to Treasury Secretary Scott Bessent, pointing out that the Treasury Department’s previously announced stablecoin regulatory principles failed to clarify timelines and procedural requirements for state-level certification—leaving states uncertain about how to proceed. The letter calls on the Treasury Department to issue written procedural guidance outlining the application, review, and certification processes under state regulatory frameworks, while retaining sufficient flexibility to accommodate differing legislative timelines across states.
a bipartisan group of senators led by Cynthia Lummis has sent a letter to U.S. Treasury Secretary Scott Bessent, urging the Treasury Department to maintain state-level regulatory authority over certain stablecoin issuers when formulating the implementation rules for the GENIUS Stablecoin Act.The GENIUS Act was signed into law last year, establishing a federal stablecoin regulatory framework in the United States. It requires stablecoins to be fully backed by U.S. dollars or similar high-liquidity assets, mandates annual audits for issuers with a market capitalization exceeding $50 billion, and sets rules for overseas issuances.The Act allows stablecoin issuers with a market capitalization not exceeding $10 billion to be regulated at the state level, provided that the relevant state regulatory regime is "substantially similar" to federal requirements. The senators argue that the Treasury's previously proposed rules did not clarify the timeline and standards for applying, reviewing, and certifying state regulatory regimes, creating uncertainty for states.The letter points out that state legislative cycles vary significantly, with some states even adopting biennial legislative cycles. Therefore, a flexible and continuously open certification mechanism is needed to ensure that states can apply for certification when the need arises, rather than limiting innovation and competition due to timing mismatches.
According to The Block, State Street has launched the State Street Stablecoin Reserves Money Market Fund (SSCXX), an asset management tool for stablecoin issuers’ reserves. This fund is a Rule 2a-7 government money market fund that primarily invests in cash, short-term U.S. Treasury securities, repurchase agreements, and other cash equivalents, aiming to preserve principal, provide daily liquidity, and maintain a stable $1.00 net asset value per share.
According to PRNewswire, Nasdaq-listed Canton Coin Treasury Company Canton Strategic announced that its Board of Directors has approved a $50 million share repurchase program. The repurchase will be conducted through open-market transactions or other compliant methods in accordance with U.S. securities laws. However, the timing, scale, and execution method of the repurchase may be adjusted or terminated based on market conditions, stock price performance, trading volume, regulatory environment, and other factors. The company does not commit to any minimum or fixed number of shares to be repurchased.
According to CryptoSlate, U.S. Representatives Lance Gooden and Josh Gottheimer jointly introduced the Federal Cryptocurrency Theft Enforcement and Coordination Act, which proposes establishing a Federal Cryptocurrency Theft Task Force within the Department of Justice (DOJ). The task force would comprise representatives from the DOJ, FBI, Department of Homeland Security, and Department of the Treasury (including FinCEN). It would serve as the federal government’s central coordinating body for preventing, investigating, and prosecuting cryptocurrency theft cases, while also providing training and technical guidance to local law enforcement agencies on evidence collection, asset tracing, and victim support. This move follows the DOJ’s April 2025 decision to disband the National Cryptocurrency Enforcement Team (NCET), citing a shift toward “prosecution over regulation.” FBI data shows that cryptocurrency-related complaints reached 181,000 in 2025, with losses exceeding $11 billion. Notably, the bill explicitly excludes cryptocurrency market regulation from the task force’s mandate, and existing criminal statutes remain unchanged. However, critical details—including funding sources, staffing levels, and victim response mechanisms—remain undefined, prompting external concerns about the bill’s practical implementation.
crypto asset trading platform Gate has announced the listing of RLUSD, a U.S. dollar stablecoin launched by Ripple, at 17:00 (UTC+8) on June 15. Simultaneously, it will open the BTC/RLUSD, ETH/RLUSD, XRP/RLUSD, and RLUSD/USDT trading pairs. RLUSD is fully backed 1:1 by U.S. dollar deposits, short-term U.S. Treasury bonds, and other cash equivalents, with monthly reserve audit reports enhancing transparency and compliance. This stablecoin is specifically designed for payment use cases, aiming to meet the growing demand from users, developers, and institutions for transparent, interoperable stablecoins with real-world application capabilities.To support the listing, Gate has simultaneously launched a market incentive program totaling 750,000 RLUSD. This program includes measures such as CandyDrop trading incentives, VIP-exclusive airdrops, withdrawal fee reductions, and KOL promotions, all designed to drive genuine trading demand, improve market depth, and attract new user participation and market vitality. The listing of RLUSD combined with the concentrated release of incentive resources demonstrates Gate's strategic direction of continuously improving its stablecoin trading ecosystem and enhancing multi-asset liquidity and trading efficiency. Moving forward, Gate will expand its offerings with more high-quality assets and ecosystem partnerships, driving the continued evolution of digital asset market infrastructure.
Odaily, Japanese Bitcoin treasury company Metaplanet has reached an agreement to acquire 100% of the equity in Siiibo Securities, a licensed Type 1 securities firm in Japan. The transaction is expected to be completed in July, after which Siiibo Securities will be renamed Metaplanet Securities.Metaplanet stated that this acquisition is its first major M&A deal and the first concrete step in executing its long-term strategy, "Project Nova," which aims to build a Bitcoin-centric financial ecosystem in Japan. By integrating Siiibo Securities' Type 1 securities license and online securities platform, Metaplanet plans to develop and distribute Bitcoin-linked yield products for Japanese investors.Metaplanet announced that its balance sheet currently holds 40,177 BTC. Following this acquisition, Metaplanet Securities will leverage its securities business license to offer new Bitcoin yield investment opportunities in the Japanese market. The company recognized the Siiibo Securities team's previous achievements in building Japan's online corporate bond market, and the merger will further promote the development of Bitcoin-related financial products in Japan.
U.S. House bipartisan lawmakers introduced a bill on Thursday to establish a cross-agency federal cryptocurrency theft task force under the leadership of the Attorney General, aimed at coordinating and leading investigations into cryptocurrency theft, fraud, and hacker attacks.The bill is jointly sponsored by Republican Representative Lance Gooden of the House Judiciary Committee and Democratic Representative Josh Gottheimer of the House Financial Services Committee. The task force will include multiple federal agencies such as the Department of Justice, the Federal Bureau of Investigation, the Department of Homeland Security, and the Department of the Treasury, aiming to address the $11 billion theft and fraud issues caused last year and provide victims with a unified federal response mechanism. (coindesk)
the Bitcoin treasury company Nakamoto officially announced that it generated approximately $48 million in net proceeds by selling about 600 BTC and related derivative positions, thereby repaying approximately $45 million in outstanding debt to Kraken. This move is expected to reduce annual financing costs by approximately $4 million.Following the transaction, the company signed a new loan term sheet with Kraken for the remaining 165 million USDT, with a principal of 105 million USDT deferred to June 30, 2027, and an annual interest rate that can be reduced to 7.75% upon meeting the Bitwise custodied wallet collateral threshold. Additionally, the company’s board of directors has authorized a share repurchase program of up to $25 million. Currently, the company still holds approximately 4,467 BTC on its balance sheet. Furthermore, according to a notice from Nasdaq, the company has regained compliance with listing requirements.
According to Ledger Insights, Federated Hermes—a U.S.-based asset management firm with $907 billion in assets under management—has announced the launch of the Federated Hermes Money Market Management Digital Treasury Fund, a money market fund compliant with the GENIUS Act’s stablecoin regulatory requirements. Primarily targeting stablecoin issuers, the fund is also open to institutional and retail investors. Its collateral assets have maturities of no more than 93 days, and its investment scope includes cash and U.S. Treasuries—highly liquid assets.
According to an official announcement, Gate has launched a limited-time USD1 staking program offering high yields. During the campaign period, users holding USD1 in their asset accounts (minimum holding requirement: 1 USD1) can earn up to 20% annualized yield. The annualized yield rate is adjusted daily based on the remaining monthly reward budget and the platform’s total effective USD1 holdings. The updated annualized yield rate is published daily around 14:00 (UTC+8). The system takes hourly snapshots of users’ USD1 balances to calculate the average holding amount for yield calculation. Yields are distributed to users’ asset accounts the following day. According to the announcement, USD1 is a U.S. dollar-pegged stablecoin issued by World Liberty Financial. It is fully collateralized by U.S. Treasury bills and cash equivalents, designed to maintain a stable 1:1 peg with the U.S. dollar. As a regulated, reserve-backed asset, USD1 delivers the same price stability as traditional cash—on-chain and in digital form.
According to The Block, the Hyperliquid Policy Center and Paradigm have jointly written a letter to the U.S. Department of the Treasury urging revisions to a proposed anti-money laundering rule, stating that it could impose strict liability on stablecoin issuers for secondary-market transactions over which they lack substantive control.
a joint letter initiated by Stand With Crypto, in collaboration with the Blockchain Association, the Crypto Council for Innovation, and The Digital Chamber, has been submitted to U.S. Senate Majority Leader John Thune and Minority Leader Chuck Schumer, urging a full floor vote on the Digital Asset Market Clarity Act (the "CLARITY Act") as soon as possible.Over 200 crypto enterprises, industry associations, and community organizations, including Coinbase, Ripple, Kraken, a16z, Circle, and Binance.US, have participated in signing the letter. The joint letter points out that the CLARITY Act would establish a comprehensive federal regulatory framework for the digital asset market, clearly delineate regulatory responsibilities, provide feasible registration pathways, protect software developer innovation, and simultaneously promote the return of more digital asset businesses to the U.S. market.The signatories stated that the bill would help retain innovation, jobs, investment, and market activity within the United States, further solidifying America's leading position in the global digital asset innovation sector.It is understood that the CLARITY Act received bipartisan support and passed committee review in the Senate Banking Committee last month. Senator Cynthia Lummis subsequently stated that the next step for the bill is to enter the full Senate deliberation stage.Additionally, 160 former national security and law enforcement officials have previously signed a letter supporting the bill. U.S. Treasury Secretary Scott Bessent and White House Crypto Advisor Patrick Witt have also publicly called for advancing the legislative process. However, the issue of conflicts of interest between the Trump family and the crypto industry is still regarded as one of the main obstacles to the bill's progress. (The Block)
Bitfinex Alpha's latest report indicates that Bitcoin has entered a deeper correction phase, dropping to a low of $59,200 on June 5, a cumulative 53% decline from its all-time high in October 2025. This decline is primarily driven by record outflows from spot ETFs, derivative deleveraging, and sustained pressure from a high-interest-rate macroeconomic environment. The yield on the 10-year US Treasury note currently remains above 4.45%, further dampening market expectations for a Fed rate cut.On-chain and fund flow data suggest the current market is closer to a "distribution phase" than "panic selling." The spot Cumulative Volume Delta (CVD) has turned significantly negative after strong accumulation from April to May, indicating that recent buyers are steadily exiting. Meanwhile, the cost basis for short-term holders has fallen below the True Market Mean of $77,800, meaning a large number of new investors are in unrealized loss positions, creating significant selling pressure for any potential rebound. As the price approaches the overall realized cost basis of around $53,900, the characteristic of reducing positions on bounces is becoming more pronounced.At the macro level, the US economy continues to grow, but inflation is eroding real household income. The job market remains robust, with job openings hitting a nearly two-year high and continued job creation exceeding replacement levels. Sectors such as healthcare, manufacturing, construction, and leisure and hospitality are all expanding. However, inflation is expected to continue outpacing wage growth, leading to a decline in real purchasing power and presenting the Fed with a more complex balance between maintaining employment and controlling inflation.The key driver of current market trends has shifted to real yields. Driven by rising energy prices and geopolitical risks, inflation expectations are heating up, pushing both nominal and real yields on US Treasuries higher. Higher real yields increase the opportunity cost of holding non-yielding assets, prompting investors to reassess their allocation to risk assets. Bitcoin has been the first to feel the impact, with US spot ETFs experiencing their largest outflows since launch. The market has also shifted from betting on rate cuts to pricing in the risk of "higher for longer" interest rates. Bitfinex Alpha believes that, in the current phase, the trajectory of real yields has become the most important variable influencing performance in both traditional financial and digital asset markets.Despite short-term pressure, the institutionalization process continues. The report notes that Securitize's approval to list on the New York Stock Exchange signals that tokenization infrastructure is further integrating into the traditional financial system. Concurrently, the US GENIUS Act is advancing a regulatory framework for stablecoins, bringing issuers under compliance requirements similar to those for traditional financial institutions. The institutio