The U.S. Senate loses another crypto tax reform advocate, Daines has confirmed he will not seek re-election.

Russia plans to introduce a stablecoin bill, claiming it has "huge potential"

The Russian Ministry of Finance is considering introducing an independent stablecoin bill to regulate fiat-backed digital assets, expected to be implemented outside the existing cryptocurrency regulatory framework. Stablecoins are seen as a tool to counter Western sanctions and may be used for cross-border payments in the future.

SEC Sends Crypto Securities Framework to the White House - Unchained

The SEC is clarifying how securities laws apply to crypto by submitting an interpretive framework for review, potentially introducing a token taxonomy to classify digital assets. This move aims to enhance regulatory oversight amid stalled legislation.

The IRS proposes that crypto brokers provide tax information reports to clients

Foresight News reports that the U.S. Internal Revenue Service (IRS) proposed a new regulation on Thursday. Under the new rules, cryptocurrency brokers will be required to provide clients with transaction information reports reported to the U.S. tax authorities. The proposal will amend the existing rules under Section 6045 of the Tax Code.

How OTC merchants step by step into the trap of "illegal business operation"

Author: Lawyer Shao Shiwei Profiting from buying and selling virtual currencies through price differences, but being prosecuted for receiving foreign exchange transfer funds—this article is based on a real case handled by Lawyer Shao, involving an OTC merchant accused of illegal business operations and concealing criminal proceeds through off-market USDT transactions. In this case, the involved party has long been engaged in buying and selling USDT to earn price differences. During a normal transaction, he unfortunately received RMB funds transferred by an underground bank upstream, illegally exchanging currency for others. Big data analysis confirmed that this fund was identified as foreign exchange transfer funds. The question then arises: Is simply earning from virtual currency price differences enough to be criminally liable for receiving foreign exchange transfer funds from illegal foreign exchange transactions upstream? More notably, there are differing opinions within the case-handling agency regarding whether to apply the crime of illegal business operations or the crime of concealing and disguising criminal proceeds. Lawyer Shao’s view is that such cases cannot be simply classified; the behavior must be assessed based on the individual's role in a layered manner.

XRP Could Face Securities Classification Under New U.S. Crypto Framework, Says Cardano’s Hoskinson

Charles Hoskinson argues that under the revised CLARITY Act, tokens like XRP would qualify as securities, igniting his feud with the XRP community. He called Ripple CEO Brad Garlinghouse out again, cautioning that having no laws is better than having a bad law. Cardano founder Charles Hoskin

Bank failures, war conflicts: Iran's $7.8 billion cryptocurrency "shadow economy" becomes the focus again

As the US-Israel coalition escalates actions against Iran, the country's "shadow economy" has once again come into focus. Iran is using cheap electricity to mine Bitcoin, stabilizing its currency and bypassing sanctions. Mining hash rate accounts for 2%-5% of the global total and is expected to create a $7.8 billion ecosystem by 2025. The stablecoin USDT is also used to stabilize the rial exchange rate, which has depreciated by over 96%. Additionally, during protests, the public has accelerated their shift to Bitcoin to protect assets.