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According to Foresight News, the Norwegian Labor Party government has announced plans to impose a temporary ban on new cryptocurrency mining data centers that utilize high-energy proof-of-work (PoW) systems. This measure is expected to take effect in the fall of 2025. Norway's Minister of Digitalization, Karianne Tung, stated that cryptocurrency mining consumes significant amounts of electricity while providing minimal employment and income benefits to local communities. Tung emphasized that the government's decision reflects a clear intention to limit cryptocurrency mining within Norway as much as possible. Despite Norway's abundant renewable hydropower resources, which have long attracted Bitcoin miners seeking low-cost clean energy, regulators believe that these high-capacity electricity resources should be better allocated to sectors such as manufacturing, heating, or AI data processing.

According to BlockBeats, Hong Kong Monetary Authority (HKMA) Chief Executive Eddie Yue announced that Hong Kong has established stringent standards for stablecoin issuers. The entry requirements are high, aligning closely with the regulations for electronic wallets and banks. It is anticipated that only a few licenses will be issued in the initial phase, with licensed stablecoins serving specific purposes such as cross-border trade.Eddie Yue emphasized that the HKMA imposes rigorous risk management requirements, covering asset reserve management, stabilization mechanisms, redemption policies, and anti-money laundering regulations, which are nearly identical to those for electronic wallets and banks. The Stablecoin Ordinance provides a comprehensive regulatory framework for issuers, ensuring that similar risks are subject to similar regulatory rules, promoting the healthy and sustainable development of the industry.

According to PANews, the Solana Foundation has signed a memorandum of understanding with the government of Kazakhstan to establish a Solana economic zone in the country, aiming to advance Web3 technology. The collaboration focuses on developing tokenized capital markets, nurturing Web3 developers, and providing infrastructure and policy support for blockchain enterprises.The Solana Foundation will partner with AIX, Jupiter, and Intebix to develop pilot projects that integrate tokenized tools into traditional markets. Additionally, the foundation plans to collaborate with local universities to launch educational programs, including Rust courses, to cultivate Web3 talent. The initiative also aims to offer infrastructure, regulatory support, and business incentives for blockchain companies.

According to Foresight News, Iran's Supreme Leader Ayatollah Ali Khamenei has issued a statement following an attack on Iran's nuclear facilities by the United States. He tweeted that the "Zionist enemy (Israel) has made a grave mistake and committed a major crime, which must be punished."

According to PANews, U.S. Securities and Exchange Commission (SEC) Chair Atkins stated on Monday that the current framework allowing brokers to act as custodians for digital assets might need to be abolished and replaced. He revealed that the SEC is considering granting hedge funds the authority to self-custody crypto assets. Currently, only two institutions nationwide have been granted 'special purpose broker-dealer' licenses. Atkins highlighted during a digital asset roundtable that the low response rate is due to 'significant restrictions' set by the previous administration. He emphasized that broker-dealers have never been prohibited from custodying non-securities crypto assets or crypto securities. However, he noted that the SEC might need to clarify how customer protection and capital requirements apply to such institutions. Atkins has requested SEC staff to explore new regulatory paths for cryptocurrencies, including examining whether custody rules should be revised to allow hedge funds, trading companies, and investment advisors to self-custody digital assets.

According to Cointelegraph, the United Kingdom's ambiguous regulatory approach to digital assets is facing sharp criticism from industry participants. Many attribute the country's lag in defining digital finance to "policy procrastination," which has resulted in the UK falling behind both the European Union and the United States. In a blog post dated June 20, John Orchard, chairman, and Lewis McLellan, editor of the Digital Monetary Institute at the Official Monetary and Financial Institutions Forum (OMFIF), highlighted that the UK has squandered its early advantage in distributed ledger finance. The post, titled "The UK keeps missing the boat on DLT finance," pointed out that the UK was once anticipated to establish a post-Brexit gold standard for crypto regulation but continues to discuss regulation in vague terms for the future. The European Union has already implemented its Markets in Crypto-Assets (MiCA) framework, while the US Senate recently passed the Guiding and Establishing National Innovation for US Stablecoins, or GENIUS Act, which sets federal guidelines for stablecoins. Despite these advancements, the UK's Financial Conduct Authority has yet to confirm a go-live date for its crypto regime. Orchard and McLellan noted that this lack of a workable framework hinders the UK's ability to adapt to the potential shift of finance moving on-chain. The criticism extends to the UK's handling of stablecoins, which are treated as investment assets rather than distinct payment tools, unlike the US approach under the Genius Act. This decision has puzzled market participants. The Bank of England's initial stance further exacerbated concerns, as its draft framework required systemic stablecoins to be fully backed by central bank money—a condition deemed commercially unviable by industry players. Although the Bank has started to relax this position, it has yet to present a feasible model. Meanwhile, other jurisdictions are progressing with their crypto regulations. In May, Hong Kong passed a stablecoin bill and is swiftly developing a tokenization ecosystem through its Project Ensemble initiative. The authors also commended the United Arab Emirates' Virtual Assets Regulatory Authority (VARA) for being a dedicated digital asset regulator, contrasting it with the UK's attempt to adapt legacy institutions to new financial models. The blog concluded by noting that while the UK led fintech innovation in the 2010s and still enjoys advantages such as its time zone, language, and legal system, its position is not secure. "Financial centers come and go," the authors cautioned, urging regulators to take swift action to maintain the UK's standing in the global financial landscape.

According to BlockBeats, the U.S. Securities and Exchange Commission (SEC) has held discussions with representatives from blockchain financial company Dinari and the law firm Wilmer Cutler Pickering Hale and Dorr. The meeting focused on addressing regulatory issues related to crypto assets. Key topics included exploring methods to regulate a proposed system for trading tokenized securities across multiple blockchains and understanding the legal framework governing its operation.

According to Foresight News, TikTok's official policy account on X has refuted claims regarding its ownership acquiring TRUMP coin. The denial comes in response to accusations made by California Democratic Representative Brad Sherman. Sherman had previously alleged that TikTok's Chinese owner announced a $300 million purchase of TRUMP coin.

According to PANews, Bank of England Governor Andrew Bailey recently expressed skepticism about the necessity of a consumer-facing digital pound during a conference in Kyiv, Ukraine. Bailey stated that he remains unconvinced of the need to create a new form of currency, marking the clearest official reservation regarding the "Britcoin" initiative. The project is currently in the design phase but faces public concerns over privacy and security, banking industry worries about deposit outflows, and warnings from the House of Lords Economic Affairs Committee that the risks may outweigh the benefits. Bailey noted that while progress is being made on wholesale central bank digital currencies for interbank settlements, the retail version still requires justification of its practical benefits.

According to Odaily, QCP Capital's market commentary on June 20 highlights that despite the potential for escalating tensions in the Middle East, Bitcoin's price remains stable, with investors adopting a wait-and-see approach as they anticipate a clear catalyst. The derivatives market reflects a cautious tone, with the risk reversal structure for Bitcoin and Ethereum indicating a preference for downside protection, suggesting that bulls are hedging their spot positions. Additionally, Ethereum's implied volatility for June is lower than that of September contracts, possibly indicating a decline in short-term event-driven volatility or profit-taking by some investors. QCP Capital believes that although volatility is currently low, the market is in a 'ready-to-explode' state, where any macroeconomic event, policy change, or unexpected news could trigger significant fluctuations.

According to PANews, Anatoly Aksakov, Chairman of the Financial Markets Committee of the Russian State Duma, announced on June 18 that the widespread implementation of the digital ruble is now scheduled for 2026. The initial plan was to launch after July 1, 2025, but it has been postponed to allow financial institutions more time to enhance their infrastructure.Since its pilot phase began in August 2023, the digital ruble initiative has expanded to include 15 banks, approximately 2,000 individuals, and 50 businesses. To date, the system has processed over 55,000 personal transfers and 15,000 payments for goods.The Central Bank of Russia has emphasized that the adoption of the digital ruble will be entirely voluntary, and there are no plans to eliminate cash or non-cash payment methods.

According to PANews, the Brazilian Ministry of Justice and Public Security announced a contract bidding on June 20, 2025, for the procurement of a cryptocurrency tracking software system. The software is required to support transaction monitoring for at least 12 major blockchains, including Bitcoin and Ethereum, with the capability to expand to more blockchains in the future. It must also be able to obtain critical data such as IP addresses, geographical locations, and wallet addresses. The system will initially be deployed in the capitals of 15 states, with a contract duration of 36 months.The Brazilian government has intensified efforts to combat cryptocurrency-related crimes, launching four major operations over the past year targeting money laundering and illegal crypto activities. This initiative reflects Brazil's commitment to enhancing its ability to track and address illicit activities within the cryptocurrency sector.

Binance Blog published a new article, highlighting the U.S. Senate's recent approval of the GENIUS Act, a pioneering legislative effort to establish a national framework for regulating payment stablecoins. This landmark bill, passed with a 68-30 vote, aims to set stringent guidelines on reserves, transparency, and consumer protections while prohibiting algorithmic and interest-bearing stablecoins. If the House of Representatives approves the bill and it is signed into law, it could significantly influence stablecoin adoption across the crypto, fintech, and traditional finance sectors, impacting U.S. consumers and potentially setting a global precedent.The GENIUS Act, co-sponsored by a bipartisan group of Senators including Tim Scott, Bill Hagerty, Kirsten Gillibrand, and Cynthia Lummis, marks a shift from enforcement-by-litigation to constructive policymaking. This move aligns with the current administration's focus on fostering financial innovation in the United States. The bill introduces a framework specifically for "payment stablecoins," which are digital tokens pegged to stable assets like the U.S. dollar, designed for everyday transactions. It mandates 1:1 reserve backing, requiring issuers to hold liquid, high-quality assets to fully back their tokens. This requirement is enforceable through monthly public disclosures and mandatory audited financial statements for large issuers.The legislation also bans yield-bearing stablecoins and algorithmic stablecoins, mandating a comprehensive study by the Treasury Department on the latter. These measures aim to distinguish payment stablecoins from investment products and minimize risks of destabilizing feedback loops. The GENIUS Act introduces a tiered regulatory model, placing large issuers under federal oversight while allowing smaller issuers to operate under state-based frameworks if they meet federal standards. Custodians must adhere to strict rules to protect consumer assets, ensuring they are kept separate from the custodian's funds and legally recognized as the consumer's property.For the crypto industry, the GENIUS Act could be transformative by providing clarity where there was once confusion. It codifies best practices for responsible issuers and signals that regulatory compliance will be rewarded with broader market access. Offshore issuers will face new barriers, needing to appoint a U.S.-based registered agent for legal matters. The bill may also encourage non-crypto companies to integrate stablecoin technology, reducing legal risks and fostering competition. However, some industry players may view the ban on interest-bearing stablecoins as restrictive.The bill now moves to the House of Representatives, where it will be reconciled with the STABLE Act. Early indications suggest the GENIUS Act will pass with bipartisan support, and U.S. President Donald Trump is expected to sign it into law. Once enacted, federal regulators will develop detailed guidelines, ushering in a new era of licensing and oversight for stablecoin issuers. This legislation represents a significant moment in cryptocurrency history, signaling the U.S.'s commitment to shaping the future of digital finance.

According to Cointelegraph, the Governor of the Bank of Korea, Rhee Chang-yong, has expressed openness to the idea of issuing a won-based stablecoin. However, he remains cautious about the potential challenges in managing the foreign exchange aspects of such a token. During a recent press conference, Rhee highlighted that a won-based stablecoin could simplify exchanges with dollar-backed stablecoins, potentially increasing demand for the latter and complicating foreign exchange management.This development comes as South Korea's newly elected President, Lee Jae-myung, advances his agenda on cryptocurrency regulation, a key promise from his campaign. The country's foreign exchange reserves have been declining, with the Bank of Korea reporting a drop from $415.6 billion at the end of December to $404.6 billion by the end of May, marking an $11 billion decrease over six months.In a move to create a more favorable regulatory environment, President Lee's Democratic Party introduced the Digital Asset Basic Act on June 10. This legislation would permit companies with a minimum equity capital of $368,000 to issue stablecoins, provided they maintain adequate reserves for refunds and obtain approval from the Financial Services Commission (FSC). The FSC is also investigating local exchanges regarding transaction fees, aligning with President Lee's commitment to reducing costs for young traders.The stablecoin market is currently dominated by US dollar-backed tokens, with Tether (USDT) and Circle's USDC leading the space. However, Circle's euro-pegged stablecoin, EURC, is gaining momentum, with its market capitalization rising to $203 million, a 156% increase since the beginning of the year. Circle's stock experienced significant gains following indications from US lawmakers that the stablecoin-regulation GENIUS Act would likely pass in the House.

According to Cointelegraph, a Texas sheriff has taken decisive action against a local cryptocurrency ATM following reports of a family being scammed out of $25,000. The incident has sparked debate among cryptocurrency users regarding the appropriateness of the sheriff's actions. Local reports from Tuesday indicate that a scammer impersonated a government employee to deceive a family in Jasper County, northwest of Houston, into depositing funds at a Bitcoin ATM. Jasper County Sheriff Chuck Havard obtained a search warrant and proceeded to cut open the ATM, which was operated by Bitcoin Depot, in an effort to recover approximately $32,000, including the $25,000 lost by the family.Sheriff Havard explained that the scam involved a caller instructing the family to pay $25,000 in fines by depositing the money into a Bitcoin address, leading them to use the Bitcoin ATM for the transaction. Bitcoin Depot has been contacted for comment on the incident. The sheriff's actions have drawn criticism from some crypto users, with Reddit user JohnDLG questioning whether government employees destroyed property and took money from an innocent third party. Another Reddit user, Jad8484, expressed confusion over the sheriff's approach, likening it to confiscating money from a store register after someone purchased gift cards for scammers. Despite the criticism, Havard defended his actions, stating that his department would use all available resources to protect citizens from scammers.Sheriff Havard acknowledged the complexity of cases involving cryptocurrency scams, noting that they can be challenging to solve. He also mentioned that his department has not yet located the scammer responsible for the incident. This event occurs amid increasing scrutiny of cryptocurrency ATMs both in the United States and internationally. In June, Spokane, Washington, banned crypto ATMs due to a rise in scam activity targeting residents. The FBI reported nearly 11,000 complaints and over $246 million in losses related to crypto ATM scams in 2024, marking a 31% increase from the previous year. Additionally, the Australian Transaction Reports and Analysis Centre recently imposed a limit of 5,000 Australian dollars ($3,250) on cash deposits and withdrawals at crypto ATMs.

According to Odaily, the British Broadcasting Corporation (BBC) has initiated legal proceedings against the AI search engine startup Perplexity, accusing it of copyright infringement. The BBC claims that Perplexity's default AI model has been trained using BBC content without authorization. The broadcaster has demanded that Perplexity cease using its content and propose a financial compensation plan to address the intellectual property violation. Failure to comply may result in the BBC seeking a court injunction against the startup.

According to PANews, the European Union is requesting further details from the social platform X, formerly known as Twitter, regarding structural changes following its acquisition by Elon Musk's xAI for $33 billion. An EU Commission spokesperson stated that they are closely monitoring the company's structural changes. Previously, reports indicated that EU regulators are assessing whether X could face fines for violating the Digital Services Act (DSA), with potential penalties reaching up to 6% of global revenue. Neither X nor xAI has responded to these inquiries.

According to BlockBeats, JD.com's Hong Kong shares experienced a decline for the third consecutive day, with a current drop of 0.56%, bringing the stock price to 124 HKD.Recently, JD Group's Chairman Liu Qiangdong expressed the company's intention to apply for stablecoin licenses in all major currency countries worldwide.

According to PANews, U.S. President Donald Trump is scheduled to hold a national security meeting on Friday at 11 a.m. Eastern Time (11 p.m. UTC+8).

According to PANews, Russian Deputy Finance Minister Ivan Chebeskov stated at the St. Petersburg International Economic Forum that only about 30% of cryptocurrency miners have registered with the Federal Tax Service, achieving compliance. The remaining two-thirds of miners operate in a 'gray area.' Authorities plan to continue advancing the mining registration system to ensure full industry regulation.