SEC COMMISSIONER MARK UYEDA SAYS STATE-CHARTERED TRUSTS SHOULD CUSTODY BITCOIN AND CRYPTO
SEC Commissioner Mark Uyeda suggests state-chartered trusts be allowed to custody Bitcoin and other cryptos, increasing custodial options for investment advisers.
The proposal follows the SEC’s reversal on Staff Accounting Bulletin No. 121, which had limited crypto custody by banks.
SIX ENTITIES HOLD 88% OF TOKENIZED U.S. TREASURIES
BlackRock leads with $2.5B in BUIDL, followed by Franklin Templeton’s BENJI ($707M), Superstate’s USTB ($661M), Ondo’s USDY ($586M), Circle’s USYC ($487M), and Ondo’s OUSG ($424M).
Hashdex Launches World’s First $XRP Spot ETF in Brazil
Hashdex has launched XRPH11, the first XRP spot ETF on Brazil’s B3 stock exchange. Tracking the Nasdaq XRP Reference Price Index, it allocates 95% of assets to XRP.
Managed by Genial Investimentos and approved by Brazil’s CVM, XRPH11 began trading yesterday.
SWISS NATIONAL BANK CHIEF REJECTS CALLS TO ADD BITCOIN TO RESERVES
Swiss National Bank Chairman Martin Schlegel said Bitcoin will not be added to Switzerland’s currency reserves, citing concerns over its liquidity and volatility.
The decision comes as Bitcoin advocates push harder for national adoption, but Switzerland’s central bank remains cautious on crypto exposure.
SEC COMMISSIONER UYEDA SAYS STATE-CHARTERED TRUSTS SHOULD CUSTODY BITCOIN AND CRYPTO
SEC Commissioner Mark Uyeda said state-chartered trust companies should be allowed to act as qualified custodians for Bitcoin and other cryptocurrencies, offering more competition and options for the industry.
The comments highlight a growing push inside the SEC to rethink how digital assets are regulated and stored.
FEDERAL RESERVE REMOVES KEY BIDEN-ERA CRYPTO RESTRICTIONS
The Fed has dismantled two major crypto rules from 2022 and 2023, eliminating the need for banks to pre-announce crypto activities or seek “nonobjection” for working with dollar tokens.
Crypto oversight will now fall under standard bank supervision.
With the OCC and FDIC also reversing anti-crypto stances this month, U.S. banks may be on the brink of a full-scale move into Bitcoin, stablecoins, and Web3.
SEC CHAIR PAUL ATKINS UNVEILS BOLD CRYPTO REFORM PLAN AT TASK FORCE ROUNDTABLE
At the 3rd Crypto Task Force roundtable, new SEC Chair Paul Atkins laid out a sweeping vision for U.S. crypto regulation, calling for modern custody rules, new broker-dealer frameworks, and an overhaul of legacy SEC policies.
Backed by the Trump administration, the move signals a major green light for blockchain innovation.
JUST IN: BITCOIN REFLIPS SILVER, NOW 7TH LARGEST ASSET BY MARKET CAP
Bitcoin ($BTC) has overtaken silver to become the 7th largest asset globally by market cap. With BTC trading above $94K, its valuation now leads the precious metal amid surging institutional inflows and bullish momentum.
China’s foreign ministry is denying any current talks with President Trump, even as multiple media outlets confirm discussions are underway. The diplomatic ping-pong raises questions about transparency ahead of a potential shift in U.S.–China relations.