🚨Breaking News🚨
$BTC $ETH $XRP
Key Headlines:
1. CLARITY Act Nears Bipartisan Support:
• U.S. Senator Tim Scott expressed optimism that Democrats will join Republicans in backing the Digital Asset Market Clarity (CLARITY) Act, which aims to bring clarity to the regulation of digital asset markets.
2. Strategic Hiring at Tether:
• Tether has onboarded Bo Hines, former executive director of the White House Crypto Council, as its strategic adviser for digital assets and U.S. strategy. This move positions Tether to align more tightly with evolving U.S. regulation, particularly the GENIUS Act.
3. SoFi Relaunches Blockchain Remittance Service:
• SoFi has introduced a blockchain powered remittance service, in collaboration with Lightspark. This enables users to send U.S. dollars that are converted to Bitcoin, transferred, and instantly converted into local currency. Rollout begins in Mexico, with global expansion planned alongside future crypto trading and staking services.
4. Gemini IPO Launches Amid Significant Losses:
• Gemini has gone public despite reporting a staggering $282.5 million net loss in H1 2025, marked by declining revenue and increasing marketing expenses. The IPO contrasts with peers who’ve recently shown stronger financial performance.
5. India's Tax Authority Seeks Crypto Oversight:
• India’s Central Board of Direct Taxes (CBDT) has called on stakeholders to discuss potential updates to crypto regulation, including revising the 1% tax deducted at source (TDS) on virtual digital assets (VDAs) and enabling traders to offset losses.
