SuperCryptoNews

House Committee on Financial Services Chairman French Hill (AR-02), House Committee on Agriculture Chairman GT Thompson (PA-15), and House Leadership today announced that the week of July 14th will be designated “Crypto Week” in the House of Representatives. This initiative aims to advance several key pieces of legislation designed to establish a clear regulatory framework for digital assets and solidify America’s position as the global leader in the crypto space.

During “Crypto Week,” the House is expected to consider three significant bills: the CLARITY Act, the Anti-CBDC Surveillance State Act, and the Senate’s GENIUS Act. These legislative efforts are part of a broader push to fulfill President Trump’s digital assets and cryptocurrency agenda.

Chairman Hill emphasized the historic nature of these steps, stating, “We are taking historic steps to ensure the United States remains the world’s leader in innovation and I look forward to ‘Crypto Week’ in the House.” He highlighted that the legislation aims to safeguard consumers and investors, provide rules for dollar-backed payment stablecoins, and permanently block the creation of a Central Bank Digital Currency (CBDC) to protect Americans’ financial privacy. Hill also expressed readiness to collaborate with the Senate on standalone market structure legislation.

Speaker Mike Johnson (LA-04) echoed this sentiment, asserting, “House Republicans are taking decisive steps to deliver the full scope of President Trump’s digital assets and cryptocurrency agenda.” He commended the partnership between the Financial Services and Agriculture Committees and the leadership of Chairmen Hill and Thompson, expressing anticipation for President Trump to sign these bills into law.

Majority Leader Steve Scalise (LA-01) added that these bills further the President’s pro-growth and pro-business agenda. Majority Whip Tom Emmer (MN-06) underscored the opportunity for American innovators to build domestically with clear regulations that reflect values of privacy, individual sovereignty, and free-market competitiveness. “By sending these three pieces of legislation to President Trump’s desk, we will protect Americans’ right to financial privacy and deliver on our promise to make the United States the crypto capital of the world,” Emmer said.

Chairman Thompson stressed the long-overdue nature of digital asset market structure legislation, noting that “Time and again, we have heard the calls for regulatory clarity and certainty in this ecosystem.” He thanked House Leadership for recognizing the urgent need for the CLARITY Act to cement American leadership.

 

A Bitcoin wallet, dormant for over 14 years and linked to the cryptocurrency’s earliest days, has suddenly moved 10,000 BTC, valued at approximately $1.09 billion. This massive transfer comes as Bitcoin (BTC) is on the cusp of reaching a new all-time high.

According to blockchain analytics platform Spot On Chain, the wallet, which had been untouched for 14.3 years, transferred its entire balance to a new address. The Bitcoin was originally acquired on April 3, 2011, for a mere $109,246, translating to an average acquisition price of just $0.78 per coin. This makes the current value a staggering 140,000-fold return on the initial investment.

The exact reasons behind the transfer remain unknown, but it has fueled speculation within the crypto community, especially as Bitcoin is currently trading around $109,100, less than 3% away from surpassing its previous peak. Historically, such large movements often precede selling activity as major investors look to realize gains. The whale may be moving funds from a cold wallet to an exchange or a hot wallet in preparation.

The movement of this “Satoshi era” wallet coincides with broader shifts in sentiment among large Bitcoin holders. On-chain analytics from Sentora indicate that whales holding over 1,000 BTC have gradually reduced their balances in recent weeks. While this distribution could exert short-term selling pressure, Sentora analysts suggest it represents a positive structural shift for the market.

“Rather than signaling weakness, this redistribution reflects a maturing market,” Sentora stated. “Older ‘whale’ coins are dispersing, a dynamic that should ultimately strengthen Bitcoin’s long-term prospects.”

However, data from Glassnode offers a more nuanced perspective. Their “Liveliness” metric, which measures the degree to which BTC holders are spending versus holding, has continued to trend downward. This suggests that unlike previous cycles where profit-taking surged as prices reached new highs, long-term investors are largely maintaining their positions even near peak valuations.

Reinforcing this trend, the total BTC held by long-term holders (those who have held for over 155 days) has reached a record high of 14.7 million coins. Notably, most BTC acquired near the $100,000 breakout threshold remains unmoved, indicating growing conviction and reduced speculative pressure among investors.

Riot Platforms, a leading U.S. Bitcoin mining firm, announced robust production figures for June, mining 450 Bitcoin (BTC) valued at approximately $49.26 million at current market prices. This marks a significant 76% increase year-over-year compared to the 255 BTC mined in June 2024, though it represents a 12% decrease from May’s production of 514 BTC.

The company’s latest release on Thursday confirmed that June was the third consecutive month of Bitcoin mining activity since Riot restarted operations in April, following a hiatus that began in January. During that period, Riot strategically diverted a portion of its power capacity at its Corsicana, Texas facility toward artificial intelligence (AI) and high-performance computing (HPC) uses, aiming to diversify its revenue streams amid increasing competition in the Bitcoin mining sector.

Riot Platforms now holds a substantial 19,273 BTC. In June, the firm also sold $41.7 million worth of Bitcoin.

Riot’s CEO, Jason Les, highlighted the company’s proactive approach to energy management, especially as the Electric Reliability Council of Texas (ERCOT) commenced its Four Coincident Peak (4CP) program. This program is designed to balance the Texas power grid during peak summer months by incentivizing large energy consumers to reduce their consumption during critical periods. Riot earned mining credits from ERCOT by participating in this program.

“Riot mined 450 Bitcoin in June, which also represented the start of ERCOT’s Four Coincident Peak program,” Les stated. “Riot’s power strategy, which includes economic curtailment and voluntary participation in the 4CP and other demand response programs, significantly contributes to grid stability while enhancing Riot’s competitive positioning.”

This strategic shift into AI and HPC aligns with a broader trend among Bitcoin miners seeking to leverage their substantial power infrastructure for additional revenue streams. Riot has been actively exploring opportunities to develop non-Bitcoin related data centers for hyperscale and enterprise clients, utilizing its existing power assets. The company recently appointed a Chief Data Center Officer to lead this diversification effort.

Riot Platforms is recognized as one of the largest cryptocurrency miners globally, albongside firms like Core Scientific and Marathon Digital Holdings. As of Thursday’s trading, RIOT shares were valued at $12.20 on Nasdaq, giving the company a market capitalization of approximately $4.36 billion. Bitcoin itself was trading around $109,400 at the time of publication.

A U.S. bankruptcy judge has ruled that Celsius Network’s multibillion-dollar lawsuit against stablecoin issuer Tether can move forward, rejecting in part Tether’s attempts to dismiss claims that it improperly liquidated Celsius’s Bitcoin (BTC) collateral during the crypto lender’s collapse.

According to court documents filed in New York, Celsius alleges that Tether executed a “fire sale” of over 39,500 BTC in June 2022, applying the proceeds against Celsius’s $812 million debt without adhering to agreed-upon procedures. Celsius claims these actions constituted a breach of their lending agreement, violated “good faith and fair dealing” under British Virgin Islands law, and represent fraudulent and preferential transfers avoidable under the U.S. Bankruptcy Code.

The core of the complaint centers on a margin call issued by Tether as Bitcoin prices plummeted. Celsius argues that Tether sold its collateral before a stipulated 10-hour waiting period expired, liquidating the BTC at an average price of $20,656, which Celsius contends was below market levels at the time. The crypto lender further alleges that Tether subsequently transferred these assets to its own Bitfinex accounts.

The filing claims that Tether’s liquidation resulted in a loss to Celsius of over $4 billion worth of BTC at current market prices.

Despite Tether’s incorporation in the British Virgin Islands and Hong Kong, Celsius argued that the company’s actions involved U.S.-based communications, personnel, and financial accounts, establishing sufficient ties for U.S. jurisdiction. The judge concurred, finding Celsius presented a plausible case that the transfers and alleged misconduct were “domestic” in nature, thereby rejecting Tether’s argument of extraterritorial application of U.S. bankruptcy law.

Tether had sought to dismiss the lawsuit entirely in August 2024, citing a lack of U.S. court jurisdiction and failure by Celsius to state valid claims. While the court dismissed some counts, it permitted Celsius’s key breach of contract, fraudulent transfer, and preference claims to proceed.

Celsius, once a prominent crypto lender, successfully exited bankruptcy on January 31, 2024, after an 18-month restructuring process and is currently in the process of repaying creditors.

The Kingdom of Bhutan is rapidly integrating cryptocurrency into its national infrastructure, aiming to modernize its financial system, attract high-value tourists, and cultivate a digitally resilient economy. During the recent “Digital Bhutan” panel, co-hosted by Binance, government officials unveiled an ambitious vision to embed crypto into the fabric of everyday life.

A significant driver behind this initiative is the enhancement of the tourist experience. Damcho Rinzin, Director at Bhutan’s Department of Tourism, highlighted a critical challenge faced by international visitors: “Tourists complain they can’t use SWIFT or pay easily. Binance Pay fixes that.” Indeed, visitors are already leveraging crypto for various purchases, including groceries, signaling a tangible shift in payment methods. With an annual target of 300,000 visitors, Bhutan emphasizes quality over sheer volume, viewing Binance Pay’s extensive user base of over 40 million as a key growth enabler.

Richard Teng, CEO of Binance, underscored the strategic shift this represents, moving beyond mere speculation to real-world infrastructure. “This is the first national crypto payments system,” Teng stated. He further emphasized the economic benefits, noting, “Crypto tourists spend nearly $1,000 — three times more than average — and merchants enjoy instant settlements.”

The adoption has been swift and widespread, with more than 1,000 local merchants now accepting crypto payments via Binance Pay. A major incentive for businesses is the zero transaction fees offered through the system, a stark contrast to the often high costs associated with traditional payment providers.

DK Bank, an early participant in Bhutan’s bitcoin mining endeavors, is now spearheading grassroots adoption efforts. Ugyen Tenzin, CEO of DK Bank, commented on the seamless integration, observing, “Mobile and QR payments are already high. Crypto just fits.”

The nation’s commitment to digital assets extends to its future urban planning. Hobeng Lim, Managing Director of Finance at Gelephu Mindfulness City – a planned smart city designed to blend technology, culture, and sustainability – confirmed that Bhutan views digital assets as a foundational industry. “This is just the start,” Lim affirmed, revealing that additional blockchain-native projects are currently under development and that digital assets are officially recognized as a future economic pillar for the kingdom.

Bhutan’s proactive embrace of cryptocurrency positions it as a pioneering nation in leveraging digital finance for national development and a sustainable economic future.

Circle, the issuer of USDC stablecoin, announced “Circle Gateway,” a groundbreaking new primitive designed to eliminate the complexities of cross-chain USDC transfers and usher in a new era of unified liquidity. Set to launch on Avalanche, Base, and Ethereum testnets this July, Gateway promises to transform how users and businesses interact with USDC across the fragmented multichain ecosystem.

The current blockchain landscape forces users to navigate cumbersome bridging processes to move USDC between different networks like Ethereum and Solana. This not only creates a confusing user experience but also places a significant burden on businesses, such as payment providers and exchanges, who must pre-position and manage multiple liquidity pools across various chains. This often leads to capital inefficiency, increased operational overhead, and costly delays.

Circle Gateway directly addresses these challenges by introducing a unified USDC balance that enables instant cross-chain liquidity. Users will be able to deposit USDC into a non-custodial smart contract, creating a single balance accessible in real-time across all supported chains, thereby eliminating the need for manual bridging or reliance on third-party liquidity providers.

For end-users, this innovation translates into a frictionless, “1-click” cross-chain experience, removing the necessity to switch networks or manually move assets. Businesses stand to gain significantly from “just-in-time” liquidity on any supported chain, which is expected to streamline operations and dramatically improve capital efficiency.

Circle envisions Gateway as a pivotal step towards building a new global financial system where access to USDC is truly instant, universal, and chain-agnostic, all while users retain full ownership and control of their digital assets.

The company is inviting all builders and developers to explore Circle Gateway on the upcoming testnets, encouraging them to leverage this new primitive to abstract away cross-chain complexity for their users. More blockchains are expected to be added to the Gateway ecosystem in the near future.

Sparkassen-Finanzgruppe, Germany’s largest banking group, is set to launch cryptocurrency trading services for its nearly 50 million retail clients by summer 2026, marking a significant shift in its digital asset strategy.

This move comes despite the bank’s previous reservations about crypto volatility and risk. In 2023, Sparkassen’s board had voted against offering digital asset services, deeming cryptocurrencies “highly speculative.” Now, the group plans to enable private clients to trade major tokens like Bitcoin and Ethereum directly from their bank accounts.

The new crypto platform will be developed and managed by Dekabank, Sparkassen’s wholly-owned subsidiary. Dekabank already holds a crypto custody license from Germany’s Federal Financial Supervisory Authority (BaFin), allowing it to provide trading and custody services to institutional clients. This retail expansion represents its next strategic milestone.

The decision by Sparkassen aligns with a broader trend among European banks, largely driven by the implementation of the EU’s Markets in Crypto-Assets (MiCA) regulatory regime. MiCA established a unified legal framework for crypto businesses across EU member states, providing much-needed clarity that has encouraged several European financial institutions to accelerate their crypto initiatives.

While MiCA offers regulatory certainty, German authorities remain vigilant about crypto-related risks. Bloomberg noted that Germany’s anti-money laundering agency reported a record 8,711 suspicious activity reports tied to crypto transactions in 2024, even as overall financial crime alerts declined. Officials continue to warn that digital assets can be a channel for illicit financial flows despite improved compliance measures.

 

Kazakhstan plans to establish a state cryptocurrency reserve, to be managed by an affiliate of its National Bank. The reserve will be funded through assets confiscated in criminal cases and cryptocurrencies mined by state-owned operations, according to a report by Kazinform, citing National Bank Governor Timur Suleimenov.

The central bank is currently developing regulations for this reserve, aiming to adhere to best practices for sovereign wealth funds. These practices include a single manager, transparent accounting, and audited, secure storage for the digital assets. Suleimenov stated that a single custodian would help protect public assets from market volatility and security breaches. He anticipates that relevant ministries and law enforcement agencies will finalize the framework, though no launch date or target size for the reserve has been announced.

This initiative marks a further expansion of Kazakhstan’s engagement with the cryptocurrency sector. The country accounts for approximately 13% of the global Bitcoin hashrate. In 2022, following power shortages, Kazakh officials seized nearly $200 million in illegal mining equipment and subsequently introduced licensing rules for cryptocurrency miners.

Globally, other public entities are also exploring holding cryptocurrencies. The United States is considering a Strategic Bitcoin Reserve, while Arizona, Ohio, and Texas have already passed legislation allowing them to hold Bitcoin. Beyond government entities, several companies, including MicroStrategy, Metaplanet, and GameStop, have raised capital to acquire Bitcoin for their treasuries. Other firms, such as SharpLink and DeFi Development Corp, have also utilized cryptocurrencies like Ether and Solana for corporate treasury purposes.

Strategy, formerly known as MicroStrategy, has further increased its Bitcoin reserves, acquiring an additional 4,980 BTC for approximately $531.9 million. The purchases were made between June 23 and June 29 at an average price of $106,801 per Bitcoin, according to an 8-K filing with the Securities and Exchange Commission on Monday.

The latest acquisition brings Strategy’s total Bitcoin holdings to 597,325 BTC, valued at over $64 billion. The company’s total cost for these acquisitions, including fees and expenses, stands at approximately $42.4 billion, with an average purchase price of $70,982 per Bitcoin, according to co-founder and executive chairman Michael Saylor. This holding represents more than 2.8% of Bitcoin’s total supply of 21 million and implies an unrealized gain of approximately $21.6 billion.

The recent acquisitions were financed through the sale of the company’s Class A common stock (MSTR), perpetual Strike preferred stock (STRK), and perpetual Strife preferred stock (STRF). Last week, Strategy sold 1,354,500 MSTR shares for about $519.5 million. As of June 29, $18.1 billion worth of MSTR shares remain available for sale under that program. Additionally, the firm sold 276,071 STRK shares for approximately $28.9 million, with $20.5 billion remaining available, and 284,225 STRF shares for $29.7 million, with $1.9 billion remaining.

These perpetual preferred stock programs, totaling $21 billion for STRK and $2.1 billion for STRF, are part of the firm’s broader “42/42” plan. This initiative targets an $84 billion capital raise through equity offerings and convertible notes to fund Bitcoin acquisitions through 2027, an increase from its initial “21/21” plan which aimed for $42 billion.

Michael Saylor has consistently expressed a long-term bullish outlook on Bitcoin. He recently alluded to future acquisitions, updating Strategy’s Bitcoin portfolio tracker with the statement, “In 21 years, you’ll wish you’d bought more.” This references his recent keynote at BTC Prague, where he projected Bitcoin’s value to reach $21 million in 21 years.

 

Cryptocurrency exchange Gemini has announced the launch of tokenized shares of MicroStrategy (MSTR) for its customers in the European Union. This initiative marks the initial phase of Gemini’s strategy to introduce tokenized U.S. equities on blockchain networks, aiming to democratize access to traditional stock markets.

Through a partnership with tokenization platform Dinari, Gemini users can now purchase fractional shares of MicroStrategy as on-chain tokens. These tokens are backed by real securities, offering investors the benefits of blockchain technology while maintaining exposure to traditional assets.

Initially, MSTR tokens will be available on the Arbitrum (ARB) network, with plans to expand to additional blockchain networks in the near future, as stated in Gemini’s announcement today.

Gemini emphasized that this move aims to combine traditional equities with the 24/7 liquidity and accessibility characteristic of crypto markets. “Anyone in the world with a smartphone and an internet connection can gain access to tokenized U.S. equities like MSTR on the blockchain,” the exchange highlighted.

The company plans to introduce more tokenized stocks and exchange-traded funds (ETFs) in the coming days, positioning this product as a means to “export U.S. equities across the globe” and enable truly borderless financial participation.

Gemini underscored that these tokenized stocks provide the same economic rights as their underlying shares, where permissible. Additionally, they offer advantages such as fractional ownership, reduced transaction friction, and direct on-chain settlement, making U.S. equity markets more accessible for global investors who often face high currency conversion costs and limited brokerage options.

This launch is a key part of Gemini’s broader vision to modernize financial infrastructure by integrating traditional assets with blockchain technology. As one of the first major exchanges to offer tokenized stocks in compliance-focused jurisdictions, Gemini’s move comes amid growing institutional interest in leveraging digital asset rails for traditional securities settlement and custody.

Ripple is set to conclude its nearly five-year legal saga with the U.S. Securities and Exchange Commission (SEC), as the blockchain company announced it would drop its cross-appeal in the closely watched case. This move signals the impending end of one of the cryptocurrency industry’s most significant court battles.

Ripple CEO Brad Garlinghouse confirmed the decision on social media today, also revealing that the SEC is expected to withdraw its own appeal. Garlinghouse stated, “We’re closing this chapter once and for all, and focusing on what’s most important – building the Internet of Value.”

The decision by Ripple follows Judge Analisa Torres’ recent denial of a joint motion for an indicative ruling, marking the second time she dismissed the appeal related to the SEC’s initial lawsuit.

The SEC first sued Ripple in December 2020, alleging that the company conducted an unregistered securities offering through the sale of its XRP tokens to institutional investors. In a landmark split decision in July 2023, Judge Torres ruled that while XRP itself is not a security, and secondary market sales do not violate securities laws, Ripple’s direct sales of XRP to institutional investors did constitute unregistered securities offerings.

This ruling was largely seen as a significant victory for the crypto industry, providing crucial clarity that programmatic sales and secondary market trading of XRP are not under SEC jurisdiction. However, the finding regarding institutional sales exposed Ripple to potential financial penalties.

Ripple’s Chief Legal Officer, Stuart Alderoty, explained that the court had presented options: either dismiss its appeal challenging the prior finding on historical institutional sales of XRP or proceed with the appeal and continue the litigation. Ripple’s choice to abandon its cross-appeal effectively brings an end to the litigation over the institutional sales ruling, thereby avoiding further legal expenses and ongoing uncertainty.

The SEC had previously indicated its intent to appeal the ruling on XRP’s non-security status but later suggested it would drop that appeal. With both appeals now set to be withdrawn, the case concludes a chapter that has profoundly shaped the regulatory landscape for cryptocurrencies for nearly five years.

The outcome preserves XRP’s legal clarity within the U.S. market while finalizing Ripple’s settlement exposure. The company is anticipated to pay a civil penalty related to the institutional sales, with the final amount yet to be determined.

With the legal battle behind it, Ripple plans to redirect its focus toward expanding global payment corridors, enhancing token utility, and increasing adoption of its XRP Ledger, advancing its vision for an “Internet of Value.”

Dinari, a San Francisco-based firm, has obtained a US broker-dealer registration for its subsidiary, allowing it to offer blockchain-based shares of publicly traded companies to domestic investors. This development was reported by Reuters on June 26.

The company plans to activate the licensed entity next quarter, following the completion of its onboarding process with the Securities and Exchange Commission (SEC).

Dinari currently distributes “dShares” on Coinbase’s Base network to users outside the US. With the new registration, it can now offer the same product to American brokerages and fintech applications through APIs, rather than a direct-to-consumer portal.

CEO Gabriel Otte stated that Dinari has secured integration partners. The company will route trades to registered market centers while settling token issuances on a public blockchain.

Tokenizing equities involves converting traditional shares into digital tokens recorded on a blockchain. Proponents of this method suggest it can reduce clearing fees, accelerate settlement times to near real-time, and support continuous trading.

Dinari’s registration aligns with SEC requirements that secondary trading in securities, including tokenized forms, must occur through licensed intermediaries. Coinbase and Kraken are also pursuing similar initiatives. Kraken has announced a 24/7 trading platform for US stocks, and Coinbase recently sought SEC permission for a similar offering.

 

Chinese brokerage GF Securities has partnered with HashKey to introduce tokenized securities in Hong Kong. These securities will be available in U.S. dollar, Hong Kong dollar, and offshore yuan denominations, supporting Hong Kong’s initiative to develop as a cryptocurrency hub.

In a statement released on Friday, HashKey announced that these tokenized securities, named “GF Token,” will accrue daily interest and be redeemable daily. They are designed for high-net-worth individuals and institutional professional investors.

HashKey described this launch as a “major step forward in the city’s real-world asset (RWA) tokenization journey,” aiming to establish a foundation for broader collaboration on tokenized securities within Hong Kong’s financial sector.

The U.S. dollar version of the tokens is benchmarked to the Secured Overnight Financing Rate (SOFR), which measures the cost of borrowing cash overnight, collateralized by Treasury securities. The tokens are issued on HashKey Chain and are scheduled for distribution at a later date.

Zeng Chao, CEO of GF Securities (Hong Kong), stated, “The collaboration with HashKey Group to launch GF Token is a key initiative in building Hong Kong’s tokenized securities ecosystem. We believe this step will further solidify GF Securities (Hong Kong)’s first-mover advantage in emerging digital finance.”

This move by GF Securities follows the Hong Kong government’s announcement on Thursday of a new policy statement. The statement outlines plans to support RWA tokenization and expand its crypto licensing framework. Paul Chan, Hong Kong’s financial secretary, commented that “Policy Statement 2.0 sets out our vision for [digital asset] development and showcases the practical use of tokenization through application, with a view to boosting the diversification of use cases.”

Earlier this week, Guotai Junan International, another Chinese brokerage, announced it had received regulatory approval to offer cryptocurrency trading services in Hong Kong. Additionally, other securities firms, including China Merchants Securities and Huatai International, are seeking license upgrades to enable crypto trading.

Invesco and Galaxy have become the ninth firms to file for a spot Solana Exchange-Traded Fund (ETF) with the U.S. Securities and Exchange Commission (SEC). The proposed “Invesco Galaxy Solana ETF,” detailed in a Form S-1 registration statement filed on Wednesday, aims to offer investors direct exposure to Solana (SOL).

Following the structure of existing Bitcoin and Ethereum ETFs, the fund would hold SOL directly under a commodity trust, trading on the Cboe BZX Exchange under the ticker symbol “QSOL.” Coinbase Custody is designated as the custodian for the underlying Solana assets. Notably, the ETF also plans to stake a portion of its SOL holdings to generate additional token rewards, which would be recognized as income to the trust.

While the S-1 filing indicates the intent to launch the new security, Invesco and Galaxy must also submit a Form 19b-4. This separate filing proposes a rule change and formally initiates the SEC’s review process, which will determine if the product meets regulatory standards under the Securities Exchange Act.

Invesco and Galaxy had previously registered the “Invesco Galaxy Solana Trust” in Delaware earlier this month, a precursor to this latest regulatory step. They join a growing list of applicants, including industry heavyweights like VanEck, Bitwise, Grayscale, and Fidelity, all of whom are awaiting SEC decisions on their own Solana ETF proposals.

The SEC has, to date, delayed decisions on several existing Solana ETF applications and has requested updated information from issuers. However, the commission has not ruled out eventual approval, with final decision deadlines for many filings set for October. Optimism among analysts remains high, with Bloomberg analysts James Seyffart and Eric Balchunas speculating a 90% likelihood of approval as early as July.

Currently, the U.S. market only features spot ETFs for Bitcoin and Ethereum. However, the existence of CME-listed Solana futures contracts and increasing institutional engagement with the asset are seen as strong indicators bolstering the case for a spot Solana product.

Hong Kong today unveiled its “Policy Statement 2.0” on digital assets, signaling a reinforced commitment to becoming a global leader in financial innovation. This latest strategy builds upon the framework introduced in October 2022, outlining a vision for a “trusted and innovative digital asset ecosystem” that prioritizes both growth and robust risk management and investor protection.

The updated policy, according to the Hong Kong government, aims to drive tangible financial benefits while fostering a dynamic, regulation-friendly, and innovation-driven environment.

“We strive to build a more flourishing DA ecosystem which will integrate the real economy with social life through a prudent regulatory regime and encouragement to market innovation,” stated Paul Chan, the Financial Secretary. “Such an ecosystem will bring benefits to both the economy and society while consolidating Hong Kong’s leading position as an international financial centre.”

A significant development highlighted in the statement is the ongoing creation of a unified regulatory regime for digital asset service providers. This comprehensive framework will encompass various entities, including crypto exchanges, stablecoin issuers, digital asset dealers, and custodians. The Securities and Futures Commission (SFC) will spearhead the licensing efforts, ensuring all market participants adhere to stringent standards.

In parallel, the Financial Services and Treasury Bureau (FSTB) and the Hong Kong Monetary Authority (HKMA) are set to conduct a legal review to facilitate the tokenization of real-world assets. This includes efforts to ease regulatory hurdles related to settlement, record-keeping, and registration for tokenized instruments like bonds.

The policy also outlines incentives aimed at boosting liquidity and investor access for tokenized assets such as government bonds, precious metals, and renewable energy instruments. Considerations include favorable tax treatment for tokenized exchange-traded funds (ETFs).

The government plans to actively promote more real-world use cases, particularly for stablecoins, to encourage wider adoption within the upcoming licensing structure. Authorities will also focus on enhancing collaboration across sectors, engaging regulators, law enforcement, and technology firms.

Finally, the statement underscores the critical importance of talent development. New partnerships between the digital asset industry and academic institutions are expected to play a key role in building the necessary skills to support long-term innovation and foster market maturity within Hong Kong’s burgeoning digital asset landscape.

Paolo Ardoino, CEO of Tether, has stated the stablecoin issuer aims to become the largest Bitcoin miner globally by the end of the current year. Tether, which reported approximately $13 billion in profit in 2024, has been diversifying its investments into sectors including artificial intelligence, telecommunications, data centers, energy infrastructure, and Bitcoin mining.

Ardoino indicated that Tether’s involvement in Bitcoin mining is primarily for strategic alignment and network security, rather than solely for commercial returns. Given Tether’s holdings of over 100,000 BTC, which exceeds $10 billion, he emphasized the importance of contributing to the security of the Bitcoin network.

Since 2023, Tether has invested over $2 billion into energy production and mining infrastructure across 15 sites in Uruguay, Paraguay, and El Salvador. These investments include new substations, renewable power development, and minority stakes in established mining operations. An initial $500 million was committed in late 2023 as part of a multi-billion-dollar expansion strategy.

Currently, leading Bitcoin miners by hashrate include MARA (57.3 EH/s), CleanSpark (50 EH/s), IREN (38.4 EH/s), Riot Platforms (33.7 EH/s), and Core Scientific (19.1 EH/s). The total Bitcoin network hashrate is estimated at approximately 810 EH/s.

Ardoino also outlined Bitcoin mining as part of a broader “stable energy” vision, which he described as one of four pillars essential for long-term societal resilience, alongside stable money, communication, and intelligence.

Trump Media & Technology Group Corp., the operator of Truth Social, has submitted a Form 19b-4 filing to list a new Bitcoin and Ethereum Exchange Traded Fund (ETF) on NYSE Arca.

According to the June 24 filing with the U.S. Securities and Exchange Commission (SEC), the proposed ETF, with the ticker symbol B.T., would allocate 75% of its assets to Bitcoin and 25% to Ethereum. The product is structured as a commodity-based trust. Yorkville America Digital is named as the sponsor, and Foris DAX Trust Company, an affiliate of Crypto.com, will serve as custodian for both cryptocurrencies.

The ETF aims to offer investors simplified access to the two largest digital assets by market capitalization through a traditional brokerage platform. If approved, it would trade on NYSE Arca.

This latest Form 19b-4 submission follows Trump Media’s previous announcement on June 16 regarding a Form S-1 registration statement filing with the SEC. While the S-1 covers disclosure and structural details, the 19b-4 is a separate procedural step for obtaining regulatory approval for listing and trading on a national securities exchange. Both filings are required for the ETF to launch.

The 19b-4 filing reiterates details from the S-1, including the fund’s passive investment strategy and the use of CME CF benchmark reference rates for net asset value calculation. The fund’s Bitcoin and Ethereum holdings will be held in cold storage by Foris DAX Trust Company, which will also act as the execution agent and provide staking and liquidity services.

The SEC will now begin its formal review, with a final decision possible within 240 days, though an initial response is typically issued within 45 days. This marks Trump Media’s second proposed crypto ETF, following an earlier Bitcoin-only spot product filed on June 3, which is also currently under SEC review.

The U.S. Federal Housing Finance Agency (FHFA) is set to investigate how cryptocurrency holdings could be considered when qualifying for mortgages. This move by the independent regulator, which oversees key entities like Fannie Mae and Freddie Mac, signals a growing mainstream acceptance of digital currencies in the financial sector.

“We will study the usage [of] cryptocurrency holdings as it relates to qualifying for mortgages,” FHFA Director Bill Pulte announced on social media platform X on Tuesday.

Pulte, who took on the director role in March, has been a public advocate for crypto since 2019, even disclosing significant personal holdings in Bitcoin and Solana valued between $500,001 and $1 million, according to his financial disclosure posted in February. He also holds shares in Bitcoin mining firm MARA Holdings.

While the announcement marks a significant step, the FHFA director did not provide further details on the study’s scope, which specific cryptocurrencies might be considered, or a timeline for the research.

Japan’s Financial Services Agency (FSA) is poised to reclassify crypto assets as financial products under the Financial Instruments and Exchange Act (FIEA), a move that could significantly reduce capital gains tax on crypto to a flat 20%. This shift, if approved, would align crypto taxation with that of stocks, easing the current burden that can see rates as high as 55%.

The FSA unveiled this key policy proposal on June 24, signaling a major regulatory overhaul for the cryptocurrency sector. A new working group has been formed to explore moving crypto regulation from the current Payment Services Act to the more stringent FIEA. This proposal is set for discussion at the Financial System Council’s plenary session on June 25.

Beyond tax relief for investors, the proposed reclassification could also pave the way for domestic Bitcoin ETFs, further integrating digital assets into Japan’s mainstream financial system.

This initiative is a cornerstone of Japan’s broader strategy to solidify its position as an investment hub and foster growth in the Web3 and crypto sectors. The government’s 2025 “New Capitalism Grand Design and Implementation Plan” emphasizes that responsible Web3 development can address societal challenges, boost productivity, and unlock global opportunities for Japanese assets.

This potential regulatory change also complements Japan’s ongoing efforts to refine digital asset classification. The FSA recently introduced a draft framework categorizing crypto assets into two types based on their purpose and decentralization. Type 1 tokens, used for business or fundraising, would face stricter disclosure rules, while Type 2 assets like Bitcoin and Ethereum, deemed decentralized and non-fundraising, would primarily be monitored through exchange oversight.

These developments come as Japan rapidly advances its digital financial ecosystem, with the digital yen pilot program, initiated in 2023, now fully operational.

Crypto exchange giant Coinbase has announced it has secured a Markets in Crypto Assets (MiCA) license from Luxembourg’s Commission de Surveillance du Secteur Financier (CSSF). This approval allows Coinbase to offer its full suite of crypto services across all 27 European Union member states, establishing Luxembourg as its official European hub.

The move comes as the EU’s comprehensive MiCA framework, which sets out guidelines and regulations for crypto assets, came into full effect at the end of last year. Coinbase’s new license consolidates its previously secured individual licenses in Germany, France, Ireland, Italy, the Netherlands, and Spain under a single, unified regulatory umbrella.

“Over the past few years, Coinbase has worked closely with regulators across Europe,” the exchange stated on Friday. “Now, with MiCA, we’re uniting these efforts under a single framework, enabling millions of Europeans to access regulated, trusted, and secure crypto services.”

The MiCA regulation aims to foster innovation while ensuring robust consumer protection and maintaining financial stability within the rapidly evolving crypto market. It mandates that crypto-asset service providers (CASPs) obtain licenses and adhere to stringent organizational, operational, and business conduct standards.

Coinbase is not alone in its pursuit of MiCA compliance. Rival exchange Gemini, owned by the Winklevoss twins, is reportedly in the final stages of obtaining its MiCA license in Malta, having applied for an operational license there in January. Similarly, OKX has also chosen Malta as its MiCA hub, with other major players like Crypto.com and Bybit having already secured their MiCA licenses.