News linked to both this project and an event.
CFTC Chairman Mike Selig, in an interview with CoinDesk, stated that the CFTC is developing tools leveraging AI to review registration applications for the U.S. crypto market and monitor trading activity. Mike Selig noted that due to federal government layoffs, which have reduced the agency's workforce by more than one-fifth, AI and automation technologies will be used to fill the manpower gap and improve the efficiency of document review. Currently, his employees are undergoing training on Microsoft Copilot, while the agency is also developing internal tools for reviewing swaps data and market surveillance.Furthermore, Mike Selig stated that the digital asset classification guide jointly released by the CFTC and the SEC is the most important initiative during his tenure, aimed at providing regulatory clarity for market participants. Regarding prediction markets, Mike Selig reiterated the CFTC's exclusive jurisdiction and emphasized that strict enforcement actions will be taken against violations such as insider trading.
Odaily News Investment bank TD Cowen stated that disagreements surrounding the "CLARITY Act" extend far beyond the issue of stablecoin revenue, with multiple practical obstacles potentially slowing down the legislative process.First, the Commodity Futures Trading Commission is understaffed, currently with only one commissioner in office. Under these circumstances, Congress is unlikely to confidently assign more cryptocurrency regulatory responsibilities to the agency, and filling the personnel vacancies alone would require several months.Second, the issue of prediction markets is heating up. Whether to include them under the bill's regulatory scope, along with potential concerns about insider trading and political conflicts of interest (including controversies related to Trump-affiliated projects), could cause some Democratic lawmakers to oppose the bill.Simultaneously, the ongoing controversy surrounding the Trump family's crypto project, World Liberty Financial, is also increasing the bill's political sensitivity, making bipartisan consensus more difficult to achieve.Geopolitics has also become a variable. Discussions regarding Iran's potential use of cryptocurrency payments are intensifying focus on anti-money laundering provisions and could even lead to the introduction of amendments unfavorable to the industry.Furthermore, some lawmakers are attempting to incorporate the "Credit Card Competition Act" into the bill. If pursued, this could trigger new conflicts of interest, further impeding the overall legislative progress.
Odaily News: The UK Financial Conduct Authority (FCA), in collaboration with HM Revenue & Customs and the South West Regional Organised Crime Unit, recently conducted raids on eight locations across the UK suspected of engaging in illegal P2P cryptocurrency trading. Officials issued prohibition orders on-site, requiring the operators to cease activities immediately and gathered relevant evidence. The UK FCA pointed out that currently, no P2P cryptocurrency traders or platforms are registered with the regulator in the UK. Furthermore, in the recent multi-agency Operation Atlantic, law enforcement agencies froze $12 million in assets linked to cryptocurrency scams and traced over $45 million in stolen cryptocurrency. The UK FCA has now launched a consultation on its guidelines for the cryptocurrency regulatory framework set to take effect in 2027.
Odaily News The Russian State Duma, the lower house of parliament, passed the first reading of the draft bill No. 1194918-8, titled "On Digital Currency and Digital Rights," on Tuesday. The bill aims to establish the core legal framework for digital currencies in Russia, directing cryptocurrency transactions to licensed intermediaries regulated by the Bank of Russia. According to the bill, Russian residents could purchase cryptocurrencies through approved intermediaries as early as July, while unlicensed platforms will be banned by July 2027.The bill introduces restrictions for retail investors, stipulating that only digital currencies with high liquidity are permitted for purchase. Relevant assets must meet criteria such as an average market capitalization exceeding 5 trillion rubles (approximately $66.66 billion) over the past two years, a daily average trading volume exceeding 1 trillion rubles (approximately $13.33 billion), and a trading history of at least five years. Retail investors are required to pass a test and have an annual purchase limit of 300,000 rubles (approximately $4,000) per single intermediary. Furthermore, the bill allows residents to purchase cryptocurrencies through foreign accounts but mandates reporting to tax authorities, while explicitly prohibiting the use of cryptocurrencies for payments.
Odaily News According to Etherealize's latest research report, which proposes the "Productive Money" theory, if Ethereum captures the combined monetary premium of approximately $31 trillion currently held by gold and Bitcoin, its implied price could exceed $250,000, far above the current level of around $2,300.The report points out that ETH not only possesses traditional monetary attributes such as scarcity, verifiability, and censorship resistance but can also generate an annualized yield of about 2%–4% through staking, achieving an "interest-bearing" monetary characteristic, thereby distinguishing it from non-productive assets like gold and Bitcoin.Furthermore, within the DeFi system, ETH serves a triple demand source as a "collateral asset + fee-burning mechanism + staking lock-up," forming a mechanism for supply contraction and value accumulation. The report believes that with the development of on-chain finance and asset tokenization, ETH is expected to simultaneously possess the dual attributes of a "store of value + productive asset."However, the report also notes that ETH's path to achieving this valuation still faces multiple uncertainties including regulation, technology, and competition. Its long-term value revaluation depends on the market's recognition of its monetary properties.
According to bits.media, Russia’s State Duma approved the government-submitted “Digital Currency and Digital Rights” bill at first reading, with 327 votes in favor, 5 against, and 8 abstentions. The bill stipulates that cryptocurrency transactions must be conducted exclusively through licensed intermediaries or exchanges. Ordinary investors must pass a test before purchasing cryptocurrencies included on a list designated by the Central Bank of Russia, with an annual purchase limit of 300,000 rubles; professional investors, after passing the test, may purchase any cryptocurrency without restriction. Banks are prohibited from transferring funds to domestic or foreign cryptocurrency platforms not authorized by the Central Bank. Russian residents must declare their foreign cryptocurrency assets and wallet information to the tax authorities. Furthermore, using cryptocurrencies for payments within Russia will incur administrative fines, while organizing illegal cryptocurrency circulation may carry a maximum prison sentence of seven years. The bill has previously drawn criticism from the banking sector and two State Duma committees, and regulatory treatment of non-custodial wallets remains contentious.
Odaily News The Russian State Duma (the lower house of parliament) has passed the "Digital Currency and Digital Rights Bill" in its first reading, marking a crucial step towards the legalization of crypto assets in the country. According to the bill, the Bank of Russia will become the core regulatory body for the crypto market, responsible for issuing licenses, approving or prohibiting related transactions, and defining the legality of transactions.The bill intends to recognize cryptocurrencies as "property" but explicitly prohibits their use as a means of payment within the country, with the ruble remaining the sole legal tender. However, against the backdrop of Western sanctions, crypto assets can be used for cross-border trade settlements, including scenarios such as service payments and intellectual property transfers.Furthermore, the bill allows Russian residents to legally invest in crypto assets through licensed institutions, but will implement an investor classification system, setting up tests and annual investment quota limits (with a suggested cap of 300,000 rubles) for ordinary investors. Initially, only high-market-cap mainstream assets like Bitcoin and Ethereum will be permitted for trading, with a whitelist to be established by the central bank.The bill is expected to be formally passed and take effect no later than July 2026. However, some lawmakers and banking industry figures have criticized it for being overly strict in regulation, potentially affecting market activity and even leading to funds remaining in the gray market. Simultaneously, supporting legislation is also planned to introduce criminal penalties, with illegal crypto transactions potentially punishable by up to 7 years in prison. (Cryptopolitan)
Odaily News Grayscale has updated its ETF application document linked to Hyperliquid, changing the custodian to Anchorage Digital Bank, replacing Coinbase which previously served as the prime broker and custodian.This adjustment has garnered significant attention, as Coinbase has long dominated the crypto ETF custody space. Currently, almost all U.S. spot Bitcoin ETFs (except Fidelity's) rely on its custody services.The filing shows that The Bank of New York Mellon will continue to serve as the transfer agent for this ETF (proposed ticker GHYP). The fund's staking functionality still requires regulatory approval and will utilize CoinDesk's Hyperliquid benchmark pricing data.Furthermore, Anchorage Digital Bank, as the first federally chartered crypto bank in the U.S., has been continuously expanding its institutional service capabilities in recent years, including areas such as stablecoins, wealth management, and token lifecycle management. (The Block)
Odaily News Trader 0xSun posted stating that news-driven trading remains one of the more cost-effective strategies in the current crypto market, with its core lying in the directionality and volatility brought by events.Reviewing several recent events, including abnormal ETH transactions, Arc fee adjustments, TAO ecosystem changes, RAVE-related investigations, and the KelpDAO security incident, all triggered significant price fluctuations within a short period. He believes that participating in such opportunities relies on either the speed of information acquisition or the ability to judge the impact of events.Furthermore, he indicated that as the recent altcoin market has gradually cooled down, he has resumed the strategy of going long on BTC while hedging by shorting some altcoin assets. He believes that against the backdrop of relatively weak liquidity and the fading of certain narratives, the overall performance of altcoins may face relatively more pressure.
Odaily News: Sonic Labs co-founder and Flying Tulip founder Andre Cronje posted on platform X, stating that his team is continuing to investigate the L0/rsETH incident. Preliminary reports indicate that approximately $200 million worth of rsETH was stolen, possibly due to a private key leak or configuration error. The related assets were subsequently deposited into Aave as collateral to borrow ETH (due to insufficient rsETH liquidity).Andre Cronje pointed out that the affected positions are technically still overcollateralized. However, if bad debt occurs, Aave's token mechanism and Safety Module will serve as the first line of defense to absorb the risk. Nevertheless, Aave has no mechanism to subsidize user losses, as doing so could trigger a bank run. Currently, Aave holds approximately $7 billion in ETH with an outstanding borrowing amount of around $100 million, so the overall impact of this incident is limited. Furthermore, prioritizing user liquidity, Flying Tulip has withdrawn all its ETH from Aave to its fund management wrapper contract. This action was taken because Aave's available liquidity had fallen below its set minimum threshold.
According to the official Tokyo Metropolitan Government (TMG) guidelines, the “Subsidy Program for Promoting Societal Implementation of Stablecoins” will officially take effect on April 15, 2026. This program provides subsidies to businesses developing use cases for Japanese yen–denominated stablecoins (SC) within Tokyo Metropolis. The maximum subsidy amount is ¥40 million, and the subsidy covers up to two-thirds of the eligible expenses incurred by the recipient. Applicants must meet the following criteria: - Maintain a registered head office or branch office within Tokyo Metropolis; - Hold the legally required licenses or have completed mandatory registration; - Not have received commissions or financial support from the national government or other local governments in the same fiscal year; - Have no affiliation with anti-social forces; - Have no outstanding tax arrears or similar violations. Eligible expenses include external platform usage fees, professional consulting and auditing fees, and system development costs—but exclude consumption tax and funds allocated for backing assets of the stablecoin. Recipients are selected by the Governor through an open recruitment process and subsequent review by a screening committee. Review criteria remain confidential, and review outcomes are not subject to appeal or objection. Furthermore, should a recipient fail to deliver tangible stablecoin use cases or obtain the subsidy through fraudulent or improper means, the Governor reserves the right to rescind the subsidy decision and demand full repayment. Late repayments incur default surcharges and late-payment penalties at an annual interest rate of 10.95%.
Odaily Seer Channel monitoring shows that the probability of "Magic advancing to the NBA playoffs" on Polymarket has dropped to 39%, down 30% in 24 hours. Yesterday, the Magic lost to the 76ers with a score of 97 to 109 and will compete with the Hornets tomorrow morning at 7:30 for the final Eastern Conference playoff spot. Additionally, Hornets star LaMelo Ball was fined $35,000 for pulling Adebayo during the game against the Heat and was assessed a Flagrant Foul 2, but did not receive a suspension. Furthermore, Ball was fined $25,000 for using profanity in a post-game interview, resulting in a total fine of $60,000.Odaily Seer Channel continues to monitor prediction markets, seeing changes before they are priced in.
Odaily News South Korea's Ministry of Economy and Finance has selected a new blockchain digital currency utilization pilot project under its 2026 regulatory sandbox framework. The project will explore the use of deposit tokens for executing business promotion expenses, aiming to test the application of blockchain technology in national fiscal operations.Currently, business promotion expenses in South Korea are primarily executed through government procurement cards, and their use during restricted hours such as late nights or weekends requires additional justification. Limited by the "National Fiscal Management Act," previous payment methods were relatively singular. The approval of this regulatory sandbox creates an exception for the use of deposit tokens.The Ministry stated that by pre-setting conditions such as expenditure timing and industry categories, deposit tokens are expected to enhance execution transparency and reduce the cost burden on small business owners by removing intermediaries from the payment flow. The Ministry of Economy and Finance plans to officially launch the pilot in the fourth quarter of 2026, with Sejong City designated as the first implementation area. Furthermore, South Korean regulators are simultaneously strengthening oversight of stablecoins, tokenized real-world assets, and automated trading.
Odaily News The UK Financial Conduct Authority (FCA) has released the final draft of its crypto asset framework. The new rules are scheduled to bring most crypto activities under the regulatory scope of the Financial Services and Markets Act by October 25, 2027. According to the proposal, any institution holding customer crypto assets for more than 24 hours or possessing the ability to revoke customer permissions will be considered a regulated custodian and must hold a full safeguarding license. Validators and node operators offering value-added functions such as staking rewards or reward reinvestment will lose their technical exemption. Furthermore, stablecoin issuers operating within the UK must control the entire lifecycle from issuance to redemption. Relevant institutions are required to submit authorization applications between September 30, 2026, and February 28, 2027.