Category: crypto

South Korea has launched a 9.6 billion won project to expand CBDC-based deposit token payments into everyday commercial use. The project involves nine banks, eight payment firms, and two major merchants testing the system using existing infrastructure without replacing terminals. It builds on the Bank of Korea’s pilot program for wider public adoption.

Bitget plans to enter the U.S. market regardless of the CLARITY Act, seeking regulatory approvals for money-transmitter, derivatives, and broker-dealer services. The exchange is exploring collaboration with NYSE and Nasdaq for tokenized traditional assets. While the CLARITY Act could simplify regulations, Bitget’s U.S. launch does not depend on its passing.

Coinbase receives $150,000 settlement from SEC after losing Gary Gensler’s text messages related to crypto. SEC blamed avoidable IT failures for loss. Settlement requires SEC to revise record-retention policies. Coinbase filed lawsuit for internal records, which revealed SEC’s errors in erasing Gensler’s messages. The settlement concludes FOIA dispute.

The White House accuses Moonshot AI of using Anthropic’s technology to develop the Kimi K3 model, which recently topped the Frontend Code Arena. Moonshot has not responded, and evidence has not been released. The accusations come amid concerns about U.S. AI competition and regulations, with implications for international AI development and funding.

Polymarket plans to challenge France’s decision to block its website through the country’s courts after regulators cited concerns over gambling losses, manipulation, and insider information. The company intends to contest the National Gambling Authority’s decision and will use the French legal process to oppose the restriction. The case will test whether the authority can continue…

Senate Republicans added crypto restrictions to the CLARITY Act, facing Democratic resistance. Passage odds fell 15% from their peak due to bipartisan negotiations stalling. Democratic Senator Alsobrooks opposed relying solely on the Department of Justice for enforcement. Trump accepted the ethics provision but enforcement issues continue to hinder bipartisan agreement.

Transfer agents are urging the SEC to prioritize issuer-backed tokenized stocks and ETFs over unaffiliated versions to protect shareholder rights. Continental Stock Transfer & Trust Company and the Securities Transfer Association are calling for clear distinctions between issuer-sponsored tokens and third-party tokens to ensure investor protection, issuer authorization, and market integrity. Regulated tokenization projects by…

Grayscale’s Zach Pandl believes Bitcoin may have reached its bottom if the Federal Reserve stops raising interest rates. The CLARITY Act, Fed policy, and Strategy’s finances are key factors for Bitcoin. Grayscale’s analysis suggests that stable growth and an end to rate hikes could allow Bitcoin’s latest low to hold.

Tesla kept its 11,509 Bitcoin reserve unchanged despite recording a $112 million after-tax loss on digital assets during the second quarter. The loss was due to Bitcoin’s decline in value. Tesla’s revenue exceeded expectations, but adjusted earnings and free cash flow were disappointing. Tesla has not bought or sold Bitcoin since selling most of its…

The UK Treasury plans to issue its first tokenized sovereign bond by Q1 2027, pending the development of on-chain cash settlement infrastructure. The project aims to test distributed ledger technology to enhance capital markets. HSBC’s Orion platform was selected for the pilot, with the government aiming to list the bond on the London Stock Exchange.