1. The U.S. House Agriculture Committee passes the cryptocurrency market structure bill, clarifying regulatory divisions
The U.S. House Agriculture Committee passed the Digital Asset Market Clarity Act with 47 votes in favor and 6 against on Tuesday. The bill will clarify the regulatory division of responsibilities between the SEC and CFTC regarding cryptocurrencies, requiring digital asset companies to conduct customer disclosures and segregate customer funds. The latest revised terms clarify that non-custodial platforms and their developers are not considered 'unlicensed service providers.' The bill must also be approved by the House Financial Services Committee before it can be submitted for a vote by the full House. Earlier on Tuesday, during a debate on the 'Clarity' bill, some lawmakers expressed concerns that the CFTC needs more funding and personnel. The CFTC is smaller, with fewer than 1,000 employees, while the SEC has over 4,000 employees. According to Reuters, 600 employees left the SEC earlier this year. - Original text
2. Connecticut passes a bill prohibiting the state government from holding or investing in virtual currencies
According to Bitcoin Laws, Connecticut passed HB7082, a bill prohibiting the state from accepting, holding, or investing in any virtual currency. The bill also imposes several new requirements on remittance agencies. The bill received unanimous approval in both the House and Senate, with no opposing votes. - Original text
3. The CFTC chairman nominee appointed by Trump commits to clarify the cryptocurrency regulatory framework
Brian Quintenz, the nominee for Chairman of the U.S. Commodity Futures Trading Commission, committed in a written statement before his nomination hearing to provide clear classifications and jurisdictions for digital asset market regulation. Quintenz stated, 'Now is the time to establish a comprehensive regulatory framework for crypto assets, including clear token classifications and explicit jurisdiction for trading market regulations.' He will leverage his experience as the policy head at a16z crypto to formulate future cryptocurrency regulations. Quintenz recently disclosed that he holds $3.4 million in assets, including shares in crypto-related companies like the prediction market platform Kalshi, which has previously engaged in long-term legal disputes with the CFTC. Quintenz has previously stated that if confirmed as chairman, he will avoid matters that could create conflicts of interest and will resign from positions that may lead to conflicts of interest. - Original text
4. Senator Cynthia Lummis calls for a revision of the unfair tax laws targeting cryptocurrencies
Senator Cynthia Lummis calls for a revision of the unfair tax laws targeting Bitcoin and digital assets. 'Due to flaws in tax laws, Bitcoin and digital assets are being unfairly hit. We need to amend cryptocurrency regulations.' - Original text
5. Bybit releases report; Circle's record IPO may signal a wave of crypto company listings
Cryptocurrency exchange Bybit released its latest edition of the Bybit Crypto Insight Report, focusing on the successful IPO of Circle Internet, deeply discussing why Wall Street severely underestimated Circle's valuation, Coinbase's lessons for investors, and which crypto giants are likely to benefit from the emerging IPO wave. The report pointed out that Circle (NYSE: CRCL), as the issuer of the USDC stablecoin, saw its stock price soar from an IPO price of $31 to a closing price of $107 in the first week of trading, demonstrating the strong market demand for crypto stocks. Its stock performance far exceeded Wall Street's expectations, reflecting that investment banks severely underestimated Circle's valuation potential, highlighting the disruptive nature of cryptocurrencies. As more blockchain and crypto-related companies enter the capital market, traditional valuation methods are being rewritten. 'Circle is just the beginning.' Additionally, the Bybit report listed six companies preparing for IPOs, with key participants including Fireblocks and Chainalysis expected to reach valuations in the billions. Industry experts noted that the favorable regulatory environment under the new U.S. government creates optimal conditions for crypto companies to enter the public capital market, and the anticipated wave of crypto IPOs will further establish the legitimacy of the cryptocurrency industry in global finance. - Original text
6. Pyth Network launches real-time ETF price data support
Pyth Network announces support for real-time ETF price data, covering price information including U.S. stocks and global indices, gold, government bonds, Real Estate Investment Trusts (REITs), and dividend- and yield-focused portfolios. - Original text
7. Tether CEO announces the upcoming release of an uncensorable wallet based on WDK
Tether CEO Paolo Ardoino announced that the Wallet Development Kit (WDK) being developed by Tether will become the first completely uncensorable, 100% configurable self-custody open-source wallet infrastructure. This toolkit leverages a P2P network for node synchronization and transaction broadcasting, emphasizing censorship resistance and flexibility. Rumble Wallet will be the first to build wallet products based on this architecture. The WDKv2 version is about to be released, accompanied by complete documentation, examples, and technical support. - Original text
8. HashKey adds 15 fiat currency channels, supporting offshore Renminbi and multiple currencies
Hong Kong licensed virtual asset exchange HashKey Exchange announced that its bank deposit services have expanded to 32 countries and regions, adding 15 new ones, further broadening users' fiat currency deposit and withdrawal channels. The platform now supports offshore Renminbi (CNH), Hong Kong Dollar (HKD), U.S. Dollar (USD), Euro (EUR), and multiple other currencies for deposits and withdrawals, with bank services for transfers extended to 32 countries/regions, including Hong Kong, the U.S., the U.K., Japan, South Korea, France, Germany, and more. - Original text
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