Everything web3, crypto, defi, degen
In brief Osborne compares the crypto moment to the 1980s Big Bang reforms and warns that the UK risks becoming irrelevant. FCA data shows that 12% of UK adults now hold crypto, as Singapore, Hong Kong, and Abu Dhabi pull ahead. Trade group CryptoUK and London startup Alvara spoke with Decrypt, calling for the legal…
In brief Coinbase has accused the Federal Deposit Insurance Corporation of “stonewalling” efforts to obtain Operation Chokepoint 2.0 records despite court orders compelling disclosure. Court filings reveal the FDIC categorically denied requests without searching and maintained policies to withhold bank examination records “in full” without review. The crypto exchange wants sworn testimony from FDIC officials…
In brief Hong Kong’s stablecoin licensing regime takes effect today, requiring fiat-referenced issuers to obtain HKMA approval. It comes shortly after the U.S. passed the GENIUS Act, sparking comparisons between the two approaches. Analysts say adoption may be slow in local retail, but firms eye international and B2B applications. Hong Kong officially introduced its long-awaited…
In brief JP Morgan CEO Jamie Dimon reaffirmed support for stablecoins, calling them potentially more useful than cash, while maintaining his skepticism toward Bitcoin. Dimon said blockchain and stablecoins meet customer demand, even if they don’t align with the bank’s personal preferences. The comments follow JP Morgan’s new deal with Coinbase, allowing Chase customers to…
In brief The White House proposed Congress consider drafting legislation that would force U.S. residents and companies to report foreign crypto accounts on their taxes. Not doing so could disadvantage U.S.-based crypto companies, the Trump administration said in a highly anticipated crypto report published Wednesday. The 168-page report also included recommendations related to crypto banking,…
In brief Sen. Warren acknowledged the need for crypto legislation but critiqued the industry’s influence on US politics. The senator claimed the GENIUS Act was an instance of the industry writing “its own legislation.” She compared it to another bill—the Commodity Futures Modernization Act of 2000—which may have indirectly influenced the 2008 financial crisis. Sen.…
In brief House Majority Whip Tom Emmer (R-MN) believes the Senate will ultimately opt to pass the House’s market structure bill, the CLARITY Act. The Senate is currently in the midst of drafting its own market structure bill, which it plans to deliberate on in September. Emmer says the White House has communicated that it…
Everyone thinks prediction markets are all about big money and quick trades. But what if the real edge isn’t speed or volume but rather the story behind a prediction?Prediction markets face the same fundamental problem: getting people to care enough to participate. Polymarket addressed this challenge by offering high‑stakes political markets that generated significant volume…
In brief India’s CBDT Chairman Ravi Agrawal said the country is stepping up its use of AI and international data-sharing to identify crypto tax evaders. Minister of State Pankaj Chaudhary confirmed the department is using data analytics to match crypto TDS filings with income tax returns and issue automated notices. India is actively participating in…
In brief PayPal will launch a platform this fall linking domestic wallets like UPI and WeChat Pay to its global merchant network. The service mirrors stablecoin functionality but runs on traditional fiat rails, without blockchain infrastructure. It comes as PayPal continues to support and integrate its stablecoin, PYUSD, into its broader product suite. U.S. payments…
