Tag: crypto regulation

  • Tech Roundup: Qualcomm’s New AI Chip, Demoverse’s $600K Funding, and Key Industry Updates

    Tech Roundup: Qualcomm’s New AI Chip, Demoverse’s $600K Funding, and Key Industry Updates

    Qualcomm Launches AI-Focused Android Chip

    Qualcomm has introduced a new Android chip designed to handle rising AI workloads while addressing challenges from the global memory shortage. The processor targets smartphones with stronger on-device AI capabilities and improved efficiency. This launch comes as chipmakers face increasing demand for AI hardware and tighter memory supplies.

    Demoverse Raises $600,000 in Lumikai-Led Funding

    AI product co-creation startup Demoverse has raised $600,000 in a pre-seed round led by Lumikai. The company plans to use the funds to expand its US presence, grow its consumer creator community, and convert brand partnerships into paid campaigns. Its platform allows consumers to use AI to help design products and earn royalties.

    Laid-Off Graduate Works as Delivery Executive After TCS Job Loss

    A 2024 computer science graduate reportedly began working as a delivery executive after losing his TCS job earlier this year. The graduate is seeking opportunities to return to IT and asked a tech professional for referrals. The incident highlights the challenges facing entry-level technology workers amid a difficult hiring environment.

    Claude Opus 5.5 Targets Businesses With Lower AI Costs

    Anthropic has launched Claude Opus 5.5, intensifying competition with OpenAI. The model focuses on stronger performance and lower operating costs, with pricing reduced from its predecessor. OpenAI has also introduced cheaper GPT-6 models targeting professional workloads. These launches highlight the AI industry’s growing focus on efficiency, pricing, and enterprise adoption.

    CLARITY Act Shapes Debate Around US Crypto Rules

    The CLARITY Act is gaining attention as US lawmakers and regulators work toward clearer cryptocurrency rules. The legislation seeks to establish regulatory boundaries for digital assets and clarify oversight responsibilities. Its progress could influence how crypto companies operate, how digital assets are classified, and how future US market regulation develops.

  • Bitcoin Crosses $80,000 as Institutional Hedging and US Regulatory Moves Reshape Market Outlook

    Bitcoin Crosses $80,000 as Institutional Hedging and US Regulatory Moves Reshape Market Outlook

    Bitcoin climbed above $80,000 on Friday as cryptocurrency markets strengthened, with analysts pointing to improving market structure and U.S. regulators advancing new digital-asset measures. The move erased earlier weekly losses and lifted major tokens across the market.

    According to CryptoQuant, Bitcoin is moving away from a zone of weakness and toward a possible bullish phase. The firm’s bubble-versus-crash indicator, which tracks speculative excess and severe market declines, suggests that extreme conditions tied to either a major bubble or a deep crash have faded. Bitcoin has already moved through a correction and consolidation period, the analysis notes, but it has not yet reached the speculative conditions that historically appeared near major cycle peaks.

    CryptoQuant Sees Bitcoin Moving Toward a Bullish Phase

    CryptoQuant said a full bullish rally has not started yet. Instead, Bitcoin is gradually moving closer to that stage as market conditions improve after the earlier correction. The analysis does not describe the market as entering an extreme expansion phase, but it does show Bitcoin leaving weaker conditions while still lacking the speculative intensity associated with previous major tops.

    Institutional Hedging Remains Heavier Than Gold

    JPMorgan’s analysis adds another layer to the market picture by comparing institutional positioning in Bitcoin with gold. The bank said institutional investors remain more defensively positioned toward Bitcoin than toward gold. Short interest and put options linked to Bitcoin exchange-traded funds, including BlackRock’s IBIT, provide investors with greater downside protection.

    Meanwhile, gold ETFs have recovered more of their 2026 outflows. Bitcoin ETFs still show heavier bearish hedging, although that positioning does not necessarily mean investors expect prices to fall.

    Hedge Unwinding Could Add Fuel to Bitcoin’s Rally

    Put options allow investors to protect portfolios against declines, while short positions can benefit when prices fall. In Bitcoin’s case, the heavier use of these tools shows that institutional portfolios retain meaningful downside protection. Yet those positions can change if Bitcoin keeps advancing. Investors may unwind hedges, while short sellers may buy Bitcoin-related exposure to close positions. The analysis suggests this process could create a potential $1 trillion market impact through hedge unwinding and short covering.

    Bitcoin’s latest price move arrived as regulatory activity accelerated in Washington. BTC rose above $81,000 and gained 5.5% over 24 hours. Ethereum gained 5%, XRP rose 6.5%, and Solana advanced 10%. Other crypto sectors also moved higher: decentralized finance tokens gained 8.5%, privacy tokens rose 6%, and governance assets climbed 11% during the same market advance.

    CFTC and SEC Measures Add to Friday’s Market Move

    The Commodity Futures Trading Commission submitted a proposal titled “Regulation Crypto Asset Transactions and Regulation Crypto Asset Markets” to the Office of Information and Regulatory Affairs on Thursday. The filing remains pending regulatory approval, and detailed provisions have not yet become available. The proposal follows comments from CFTC Chairman Michael Selig, who said the agency was “ready to ship rules” after the Senate failed to advance market structure legislation.

    The CFTC has also introduced a no-action position for providers of passive software. Its Market Participants Division said it will not recommend enforcement action against eligible providers or relevant personnel for certain registration failures involving introducing brokers.

    Meanwhile, the Securities and Exchange Commission released a temporary innovation exemption on Thursday. The measure provides a five-year conditional path for certain platforms to offer on-chain trading of tokenized stocks.

    These regulatory steps arrived as agencies pursued incremental measures while Congress remained stalled on comprehensive crypto legislation.

    Outlook

    Bitcoin’s move above $80,000 came as CryptoQuant reported improving market conditions and institutional investors maintained defensive hedges. At the same time, CFTC and SEC measures expanded regulatory activity. Further gains could prompt hedge unwinding and short covering, adding another source of Bitcoin buying pressure.

  • Ripple CLO Urges Crypto Industry to Unite After Senate Blocks CLARITY Act

    Ripple CLO Urges Crypto Industry to Unite After Senate Blocks CLARITY Act

    Ripple CLO Calls for Industry Unity After CLARITY Act Stalls

    Stuart Alderoty, Ripple’s Chief Legal Officer and president of the National Cryptocurrency Association, is urging cryptocurrency firms to align their messaging after the CLARITY Act failed to advance in the U.S. Senate. In a September 17 post on X, Alderoty said “politics beat policy this week” and emphasized that the industry must speak with one voice when engaging with lawmakers and regulators.

    Senate Vote Details

    The Senate voted 49-50 on September 15 against invoking cloture on the motion to proceed to H.R. 3633, falling short of the required three-fifths majority. This procedural setback stalled the comprehensive crypto market structure bill after months of negotiations. Ripple expressed disappointment, calling it a missed opportunity, and reiterated its support for uniform federal standards that would provide clearer rules for digital asset businesses and stronger consumer protections.

    Bipartisan Talks Continue

    Despite the vote, seven Democratic senators released a statement on September 16 committing to continued bipartisan negotiations on crypto legislation. They described the vote as a setback rather than an end to the effort. Ripple CEO Brad Garlinghouse had supported the revised version of the bill, which incorporated over 100 changes.

    Crypto Adoption and XRP in Focus

    Alderoty also cited the National Cryptocurrency Association’s 2026 State of Crypto Holders survey, conducted with The Harris Poll, which estimated over 67 million U.S. adults own cryptocurrency. The survey found that 40% of holders use crypto for shopping and payments, while 41% send digital assets to friends and family. Meanwhile, XRP has declined roughly 25% from its August high. Community analyst Dark Defender pointed to lower exchange balances and RLUSD activity, suggesting the drop may precede a rally according to Elliott Wave analysis. However, Ripple maintains that XRP’s regulatory status remains separate from the legislative outcome.

    Conclusion

    Ripple’s Stuart Alderoty wants the crypto industry to coordinate its policy message after the CLARITY Act stalled in the Senate. The 49-50 vote stopped the measure from advancing, although seven Democratic senators committed to further bipartisan talks. Ripple continues to support uniform federal rules for digital assets.

  • Ripple CEO Says Crypto Adoption Can Thrive Even as CLARITY Act Stalls in Senate

    Ripple CEO Says Crypto Adoption Can Thrive Even as CLARITY Act Stalls in Senate

    Ripple CEO Brad Garlinghouse says the crypto industry has more than one path to growth, even as the U.S. CLARITY Act remains stuck in Congress. The bill, designed to provide clearer federal rules for digital assets, failed to advance in the Senate last week.

    What Happened With the CLARITY Act?

    The Senate voted 49–50 against moving the CLARITY Act forward, well short of the 60 votes needed to proceed. The legislation would have clarified which federal agencies oversee different segments of the crypto market and given companies a more defined compliance roadmap.

    Garlinghouse: Technology and Adoption Matter More Than Legislation

    Speaking at a digital asset conference in Kansas City on September 15, Garlinghouse said crypto growth doesn’t depend on any single bill. He pointed to faster, more efficient blockchain technology as a key adoption driver.

    “The industry can keep building, and users can keep adopting the technology while lawmakers debate new rules,” Garlinghouse emphasized.

    Market Impact and Ripple’s Legal Battle

    The Senate setback added fresh uncertainty to U.S. crypto policy, and the market reacted sharply. Roughly $571 million in crypto long positions were liquidated across exchanges following the vote.

    Separately, Ripple has spent more than $150 million defending itself in an ongoing legal battle with the U.S. Securities and Exchange Commission. The company remains focused on expanding its cross-border payment solutions despite regulatory headwinds.

    Why This Matters for Crypto Companies

    Clearer rules would make it easier for companies to launch new products and services, but innovation isn’t on hold. Real-world use cases, lower costs, and faster settlement times continue to attract users regardless of legislative progress.

    Garlinghouse’s remarks underscore a broader industry sentiment: while clear regulation is welcome, the long-term growth of crypto isn’t dependent on any one piece of legislation.

  • Daily Tech Roundup: India’s Semiconductor Push, AI Health Agent Funding, Graduate Job Market, Crypto Regulation, and iOS 27 Security

    Daily Tech Roundup: India’s Semiconductor Push, AI Health Agent Funding, Graduate Job Market, Crypto Regulation, and iOS 27 Security

    What’s New Today

    Today’s roundup spans five distinct storylines shaping the tech and business landscape: SEMICON India 2026 opening in the capital to spotlight the country’s shift from chip policy to chip production; an Italian healthtech startup raising fresh funds to bring its AI claims-processing agents to hospitals across Europe; a fresh look at why recent college graduates are struggling to find jobs beyond the usual AI blame game; India’s Parliamentary panel on virtual digital assets waiting on the government before finalising its report; and Apple rolling out a new iOS 27 feature to guard iPhone users against impersonation scams.

    Fast-Track Insights

    • SEMICON India 2026 opened as a three-day event from September 17, showcasing the semiconductor industry’s journey from raw silica to finished chips, part of an industry valued at USD 900 billion globally.
    • Health Force, an Italian platform where three out of four insurance claims at major hospital groups are processed without staff involvement, raised €4.2 million in seed funding to expand its AI agents across European hospitals.
    • A fresh analysis pushes back on the narrative that AI alone explains why recent college graduates are struggling to land jobs, pointing to broader economic and educational disruptions at play.
    • The Parliamentary Standing Committee on Finance has wrapped up its discussions on virtual digital assets and is now waiting for the government’s response before submitting its report on regulation.
    • Apple introduced Impersonation Risk Detection in iOS 27, a security feature that flags signs of social engineering scams, especially when users are about to make a payment or change sensitive account details.

    SEMICON India 2026: Unpacking India’s Strategic Push For Chip Manufacturing

    Picture a grain of sand. Ordinary silica, dug out of a beach or a quarry, worth almost nothing. Now picture that same sand purified to 99.99 per cent purity, sliced into a wafer thinner than a fingernail, and etched with billions of nodes. That transformation — sand into silicon converted to a working brain of glass and metal — is precisely the USD 900 billion business model of the semiconductor industry that will be displayed in full splendour at the three-day SEMICON India 2026, scheduled to be held here from September 17.

    Health Force nets €4.2M to deploy its AI agents across Europe

    In the largest private hospital groups in Italy, three out of four insurance claims are processed from start to finish without any staff involvement, while the remaining claims are returned to staff with specific instructions on what to review. Health Force, the platform behind it, has raised €4.2 million in seed funding to introduce this process to other hospitals throughout Europe.

    For recent college grads, there are reasons bigger than AI that some are not finding jobs

    The popular press is full of stories on the bleak economic outlook of recent college graduates. Journalists are tapping into real fears among students, parents, educators and policymakers about the value of college and the uncertainty of careers. However, there is a tendency among reporters and commentators to focus on the educational and economic disruptions wrought by artificial intelligence. A fresh analysis pushes back on that narrative, pointing to broader economic and educational disruptions at play.

    Crypto Regulation: Government Response Expected Next Week, Finance Panel To Submit Report

    India does not have a comprehensive regulatory framework for virtual digital assets (VDAs), although the sector is covered by taxation and anti-money laundering requirements. The government has been examining how VDAs should be dealt with as the market and related risks evolve. Meanwhile, the Parliamentary Standing Committee on Finance has concluded its discussions on VDAs and is now awaiting the government’s response before preparing its report. The committee’s study, A Study on Virtual Digital Assets (VDAs) and Way Forward, has been under discussion for around a year.

    iOS 27 Adds Impersonation Risk Detection to Block iPhone Scams

    Apple introduced a new security feature in iOS 27 designed to protect iPhone users from impersonation-based scams. Called Impersonation Risk Detection, the feature can identify signs that a user may be caught in an active social engineering scam, particularly when they are about to make a payment or change sensitive account information. Scams involving fake banks, government agencies, delivery services, and even people users know have become increasingly common. Apple says the new feature is designed to detect suspicious activity and alert users before they complete potentially risky actions.

    Join our WhatsApp Channel to get the latest news, exclusives and videos on WhatsApp.

  • Russia’s Digital Ruble Gains Traction with 87,000 Accounts While Crypto Usage Surges

    Russia’s Digital Ruble Gains Traction with 87,000 Accounts While Crypto Usage Surges

    Russia’s central bank digital currency (CBDC), the digital ruble, has seen rapid adoption since its nationwide launch on September 1. Within just 10 days, users opened 87,000 accounts and completed more than 50,000 transactions, according to Bank of Russia Governor Elvira Nabiullina.

    Digital Ruble Adoption Accelerates

    Nabiullina reported that the rollout encountered minimal operational issues. Some banks experienced initial problems when customers opened accounts or processed certain transactions, but these were resolved quickly. The central bank has not recorded widespread disruption or a significant number of complaints. Instead, activity has accelerated as more people test the new form of money.

    Many users are trying the digital ruble to understand how it works, and the central bank expects convenience to play a key role in sustained usage.

    Expanded Acceptance Rules

    The Bank of Russia is working to simplify the user experience by reducing the number of steps required to open accounts or complete transactions. At the same time, it maintains strong safeguards. Since September 1, Russia’s 12 largest banks and retailers earning more than 120 million rubles (approximately $1.42 million) annually must accept digital rubles. The mandate will extend to more companies through 2028.

    Crypto Activity Remains High

    Separate central bank data shows rising crypto-related activity among Russian users. From Q4 2023 through Q1 2024, traffic to major crypto sites increased by 16.4%. Russian users made 104.6 million visits during that period, and unique IP addresses rose 15.1%. Russia accounted for 7% of traffic to major international crypto exchanges, down from a previous peak of 9%.

    Using Rosfinmonitoring’s Transparent Blockchain tool, the bank identified over $50.2 billion in transactions potentially linked to Russians, including trading, peer-to-peer payments, remittances, and purchases of goods and services. Russian users favored Bitcoin, Ethereum, and dollar-linked stablecoins such as USDT.

    The central bank warned that sanctions could restrict access to stablecoin funds, including USDT and USDC. It advised domestic financial institutions to avoid crypto-related instruments and services. Binance has exited the Russian market, and new regulations continue to shape the country’s crypto environment.

    Final Thoughts

    Russia’s digital ruble rollout has achieved 87,000 accounts and over 50,000 transactions in its first 10 days, while earlier data shows rising crypto activity among Russian users. The rollout combines expanding CBDC access with tighter acceptance rules and continued warnings about crypto-related financial risks.

  • SEC Moves Toward Independent Crypto Rules as CLARITY Act Stalls in Senate

    SEC Moves Toward Independent Crypto Rules as CLARITY Act Stalls in Senate

    The U.S. Securities and Exchange Commission (SEC) is preparing to establish its own regulatory framework for cryptocurrencies as the CLARITY Act faces procedural delays in the Senate. SEC Chair Paul Atkins has indicated that the agency can leverage its existing authority to address regulatory gaps if Congress fails to pass the bill.

    Atkins previously noted that the SEC and the Commodity Futures Trading Commission (CFTC) could “fill in the gaps” without new legislation, adding that regulators can “make do with our authority” while lawmakers continue negotiations. This approach places agency rulemaking behind the SEC’s broader Regulation Crypto Assets plan.

    SEC Prepares Regulation Crypto Framework

    In March, Atkins introduced Regulation Crypto Assets as a comprehensive framework for token offerings and digital asset oversight. The plan includes a token taxonomy, guidance on when an investment contract ends, and exemptions that could provide crypto projects with a clear route for raising capital.

    The SEC’s 2026 agenda calls for clearer rules covering crypto fundraising, custody, and blockchain-based securities trading. Atkins emphasized the need for formal standards rather than relying primarily on enforcement actions. Any final rules would require a proposal, public comment period, and a Commission vote before taking effect.

    CLARITY Act Faces Narrow Senate Window

    Meanwhile, the CLARITY Act cleared the Senate Banking Committee by a 15-9 vote on May 14 and passed the House by 294-134 in July 2025. The legislation would divide digital asset oversight between the SEC and CFTC while establishing federal rules for trading platforms.

    Several disputes continue to slow Senate negotiations. Democratic senators are pushing for stronger provisions on government ethics, consumer protection, illicit finance, conflicts of interest, and market integrity. Lawmakers are also debating protections for decentralized finance (DeFi) developers and limits on rewards tied to stablecoins.

    Senators Thom Tillis and Ruben Gallego have taken leading roles in negotiations over the bill’s ethics provisions. Details of any final compromise have not been publicly released. The bill still needs enough support to clear the Senate’s 60-vote procedural threshold before a final vote.

    August Recess Raises Pressure on Lawmakers

    The Senate’s planned state work period begins August 10 and continues through September 11, giving lawmakers a limited window to start the voting process before the break. Senate leaders are also handling nominations and other legislation competing for floor time.

    Atkins has stated that only Congress can fully “future-proof” crypto rules through market structure legislation. A statute could define agency powers more clearly and reduce the risk of later policy reversals. SEC rules alone cannot settle every issue involving the CFTC’s authority over digital commodities.

    Even so, the SEC can move first in areas covered by federal securities law, including token fundraising exemptions, custody standards, and rules for securities trading on digital platforms. Proposed rules could advance even if the CLARITY Act moves into a later Senate window.

    The SEC’s plan would not create a complete market structure law but would address areas already tied to federal securities rules. Coordination with the CFTC would remain necessary for digital commodities and platforms offering multiple token types. Congress would still control any wider division of federal authority.

    This fallback plan marks a shift from an approach centered mainly on lawsuits and case-by-case decisions, placing more crypto policy decisions with regulators while Congress continues negotiations. The Senate schedule will determine whether legislation or agency action shapes the next stage of U.S. crypto regulation.

  • Bitcoin ETF Inflows Return, Lazarus Group Transfers BTC, and Hungary Eases Crypto Regulations

    Bitcoin ETF Inflows Return, Lazarus Group Transfers BTC, and Hungary Eases Crypto Regulations

    Crypto Market Roundup: Bitcoin ETF Inflows, Lazarus Group Activity, and Regulatory Shifts

    The crypto market saw a series of significant developments on July 30, 2026, as Bitcoin spot ETFs recorded net inflows, North Korea’s Lazarus Group moved a substantial amount of BTC, and Hungary streamlined its crypto regulations. Meanwhile, the CLARITY Act’s chances of passing in 2026 dropped to a new low.

    Bitcoin Spot ETFs See $32 Million Inflow After Outflow Streak

    According to data from SoSoValue, Bitcoin spot ETFs posted a total net inflow of $32.11 million on July 30, ending a four-session outflow streak. BlackRock’s IBIT led the charge with a daily net inflow of $89.83 million, bringing its historical net inflow to $60.42 billion. In contrast, Fidelity’s FBTC recorded the largest daily net outflow at $43.08 million, with a total historical net inflow of $9.96 billion. The combined net asset value of all Bitcoin spot ETFs now stands at $77.46 billion, representing a 6.08% net asset ratio. The historical cumulative net inflow has reached $51.36 billion, signaling renewed institutional interest in the asset class.

    Russia Detains BitRiver Founder in Fraud Investigation

    Russian authorities have escalated their case against Igor Runets, founder of the country’s largest cryptocurrency mining firm, BitRiver. The Zamoskvoretsky District Court of Moscow ordered Runets moved from house arrest to a pre-trial detention center, where he will remain for at least two months pending the investigation. Runets faces charges under Part 4 of Article 159 of the Russian Criminal Code, which covers fraud on an especially large scale committed by an organized group. Investigators allege that Runets and his company were involved in a crypto-mining equipment deal with the energy conglomerate En+ that resulted in damages of 1 billion rubles (approximately $12.5 million).

    North Korea’s Lazarus Group Moves $7.74 Million in Bitcoin

    Blockchain monitoring firm Lookonchain detected a transfer of 121.5 Bitcoin (BTC), valued at roughly $7.74 million, from a wallet associated with North Korea’s Lazarus Group to a new address. The transaction, which occurred on June 6, 2025, is part of the group’s ongoing efforts to launder funds from previous cyber heists. The Lazarus Group has been linked to major cryptocurrency thefts, including the $620 million Axie Infinity hack in 2022 and the $1.7 billion Bybit exploit in 2025.

    Hungary Streamlines Crypto Regulations Under MiCA Framework

    Hungary has taken steps to simplify its crypto regulatory environment. The Hungarian Parliament voted to repeal the country’s mandatory crypto validator rule, which had required certain crypto transactions to undergo third-party approval. This requirement, which took effect on July 1, 2025, operated alongside the European Union’s Markets in Crypto-Assets (MiCA) framework, creating a dual compliance burden for crypto asset service providers. With the repeal, Hungary has aligned more closely with MiCA, also applying a shortened transition period that required compliance by July 1, 2025—one year earlier than the EU’s maximum deadline. As a result, CoinCash has been authorized to resume operations in the country.

    CLARITY Act Odds Hit Record Low of 27%

    Prediction market Polymarket has set the probability of the CLARITY Act becoming law in 2026 at a record low of 27%, following a Senate delay. The Senate postponed action on the crypto market structure bill to consider a Russia sanctions package and federal nominees. Galaxy Digital similarly lowered its estimated probability of passage to 30%. With the Senate now focused on other legislative priorities and the August 8 recess approaching, the window for the CLARITY Act is shrinking. The Senate voted on July 28 to advance the sanctions legislation, leaving fewer working days for the crypto bill.

    Summary of Key Developments

    • Bitcoin ETF inflows: $32.11 million net inflow, led by BlackRock’s IBIT with $89.83 million.
    • Lazarus Group transfer: 121.5 BTC ($7.74 million) moved to a new wallet.
    • BitRiver founder: Igor Runets placed in pre-trial detention in Russia over alleged fraud.
    • Hungary crypto rules: Repeal of validator rule aligns with MiCA; CoinCash resumes operations.
    • CLARITY Act: Odds drop to 27% on Polymarket after Senate delay.
  • Bitcoin ETF Inflows, WEMIX Security Breach, and CLARITY Act Push: Key Crypto Developments

    Bitcoin ETF Inflows, WEMIX Security Breach, and CLARITY Act Push: Key Crypto Developments

    Bitcoin ETF Inflows and MVRV Z-Score Signal Undervaluation

    Spot Bitcoin ETFs recorded $33.79 million in weekly net inflows, led by Grayscale Bitcoin Mini Trust with $85.78 million, according to SoSoValue. Meanwhile, Bitcoin’s MVRV Z-Score fell to 0.42, roughly four times below its historical mean of 1.7, indicating an undervalued range. CryptoQuant analyst Axel Adler Jr. noted that the metric has not entered negative territory, suggesting the market has not yet seen the capitulation selling often associated with cycle bottoms. Bitcoin’s 7-day realized profit and loss has turned positive at $239 million, easing on-chain selling pressure.

    WEMIX Freezes Bridge After $6.25 Million Security Breach

    WEMIX confirmed that an attacker gained control of owner privileges linked to its WEMIX$ stablecoin contract on July 26, enabling unauthorized token minting and asset transfers. An early report valued the abnormal issuance at approximately $6.25 million, later refined to about 5.23 million WEMIX$ minted. The company identified suspected attacker wallets and is coordinating with exchanges and stablecoin issuers to freeze the assets.

    Stripe’s Stablecoin Card Program Lead Steps Down

    Connor Fitzgerald, who led Stripe’s stablecoin partnerships and helped build its global stablecoin card program across more than 100 markets, announced his departure. Fitzgerald joined after Stripe acquired the stablecoin platform Bridge and worked on sponsor bank partnerships and regulatory compliance.

    Senator Lummis Pushes CLARITY Act to Combat Crypto Thefts

    On July 27, Senator Cynthia Lummis renewed efforts to pass the CLARITY Act, which grants the Treasury Department power to impose digital-asset-specific sanctions on foreign jurisdictions and allows exchanges to freeze suspicious transactions for up to 180 days. On-chain data shows North Korea’s Lazarus Group stole approximately $643 million in the first half of 2026, accounting for two-thirds of global crypto thefts. Galaxy Research lowered the probability of the CLARITY Act passing in 2026 to 30%.

  • France’s Proposed Crypto Bill Overhauls Tax Rules for Airdrops, Losses, and Executive Security

    France’s Proposed Crypto Bill Overhauls Tax Rules for Airdrops, Losses, and Executive Security

    French National Assembly member Paul Midy has introduced Bill 3090, co-signed by 91 lawmakers, aiming to reform cryptocurrency taxation, enhance executive safety, and expand blockchain testing. The proposal addresses airdrops, governance tokens, capital losses, small crypto payments, company records, and security expenses. Supporters argue that current rules create tax and safety challenges for French users and digital asset firms.

    Tax Changes Target Unrealized Crypto Assets

    The bill would tax airdropped tokens and governance tokens only when recipients sell them. Under current rules, a tax charge can arise upon receipt of tokens, before any sale generates income. Proponents say this aligns crypto assets with traditional securities in France, focusing taxation on the transaction that produces income rather than the receipt of an unrealized asset.

    The measure also permits crypto holders to carry capital losses forward for 10 years, matching existing stock market rules and allowing future gains to offset previous losses.

    Small Payments and Existing Tax Rates

    Another provision exempts annual crypto payments up to €1,000 (approximately $1,139) from taxation, reducing reporting duties for small purchases and routine digital asset payments. However, the bill does not change France’s flat tax rate on crypto gains, which rose to 31.4% at the beginning of 2026.

    Instead, the proposal modifies assessment and declaration procedures. It reportedly emerged from a legislative hackathon organized with ADAN, France’s digital asset industry association.

    Executive Safety and Competing Tax Direction

    Beyond taxation, the bill would conceal executives’ home addresses from public company registries and require companies to cover security costs when executives face credible threats. Midy introduced a related proposal in June 2025 after kidnapping attempts targeted figures in France’s Web3 industry. The new bill also seeks to open the European Union’s DLT pilot regime to SAS entities, allowing more French companies to test blockchain-based market infrastructure.

    Meanwhile, lawmakers are weighing these reforms against a separate levy on large digital asset holdings. In October 2025, the National Assembly narrowly approved an unrelated amendment targeting digital asset holdings above €2 million, imposing a 1% annual tax under an ‘unproductive wealth’ category. That amendment still requires Senate approval. Midy’s proposal remains pending as lawmakers prepare for further Senate review and National Assembly debate.

    Conclusion

    France’s proposed crypto bill would delay taxes on airdrops until sale, extend capital-loss carryforwards to 10 years, exempt small annual payments, and strengthen Web3 executive protection. As lawmakers debate competing tax approaches, users and companies should monitor the bill’s progress through the National Assembly and Senate.