Flash News

TREE NEWS update: US Senator Richard Blumenthal questioned OpenAI CEO Sam Altman about issues related to Hugging Face during a hearing. The inquiry touched on AI safety and platform responsibilities. Details of Altman’s responses were not immediately disclosed.

TREE NEWS update: The US Senate will hold a procedural vote on the Clarity Act on September 15, which would establish federal rules for digital assets and split oversight between the SEC and CFTC. Stand With Crypto, backed by Coinbase, said its members contacted lawmakers nearly 50,000 times in August, while crypto groups have spent at least $190 million on midterm lobbying. The Independent Community Bankers of America is lobbying for amendments, including a ban on stablecoin yields, to protect $4.1 trillion in community bank loans.

TREE NEWS update: US Treasury Secretary Scott Bessent called on the Senate to advance the CLARITY Act, which would establish a comprehensive regulatory framework for digital assets. He warned that failing to pass the bill would signal to allies and adversaries that the US is unwilling to lead in the digital asset future, while forgoing enhanced national security tools to combat digital asset abuse.

TREE NEWS update: Crypto advocates and community bankers are pressuring lawmakers in their home states as the Senate prepares for a September 15 procedural vote on the Clarity Act. The lobbying effort targets senators directly to influence the upcoming vote, highlighting the divide between industry supporters and traditional banking interests.

TREE NEWS update: US Treasury Secretary Scott Bessent called on the Senate to continue discussions on the Clarity Act, a legislative proposal aimed at providing regulatory clarity for digital assets. His remarks underscore the administration’s push for a comprehensive federal framework. The Clarity Act is seen as a potential milestone for crypto regulation in the US.

TREE NEWS update: The US Secret Service froze $52.8 million in cryptocurrency linked to a Telegram-based marketplace implicated in global scams. The Treasury Department sanctioned the marketplace, while Xinbi, which allegedly processed $24 billion through the bazaar, called the freeze unfair. The action marks a significant enforcement step against illicit crypto activity.

TREE NEWS update: Hyperliquid Policy Center has accused CME Group of stifling innovation and urged a court to dismiss CME’s lawsuit against the CFTC over perpetual futures. The policy arm of the Hyperliquid ecosystem argues that CME’s legal action threatens the growth of crypto derivatives. A court decision is pending.

TREE NEWS update: Mexican prosecutors allege suspects killed Camilo Séptimo keyboardist Jonathan Meléndez and his family while searching for a cold wallet believed to hold millions in Bitcoin. The attack targeted the musician over the cryptocurrency cache. The case highlights the dangers of crypto wealth in regions with high violence.

TREE NEWS update: Coinbase, Stanford professor Dan Boneh, and Localhost Research held a closed-door ‘Post-Quantum Bitcoin Workshop’ at Stanford on September 10. Attendees, including Bitcoin developers, cryptographers, and hardware wallet experts, discussed quantum computing risks and post-quantum signature schemes for Bitcoin, referencing Ethereum’s roadmap and institutional custody needs. The group also addressed hardware wallet limitations and protections for assets that may not migrate in time.

TREE NEWS reports: Two Republican senators told Semafor that the Clarity Act, a crypto market structure bill, is likely heading for defeat in a Sept. 15 vote, even if it passes, due to Trump family ethics rules. The senators’ comments suggest the bill faces insurmountable opposition, potentially derailing the legislation.

TREE NEWS update: The Chamber of Digital Commerce and Blockchain Association are seeking to block Illinois’ 0.2% crypto tax, arguing it is unconstitutional and would impose costly compliance burdens. Their legal action follows an earlier lawsuit and aims to prevent the tax from taking effect in January.

TREE NEWS update: Switzerland announced measures aligning with EU sanctions, effective September 10. The government also banned the sale of specific equipment used for gold mining and refining in Sudan. These steps aim to prevent the circumvention of EU restrictions.

TREE NEWS update: The Blockchain Association and the Crypto Innovation Council filed for a preliminary injunction in Illinois court to block a 0.2% digital asset transaction tax scheduled to take effect in January 2027. In a 34-page motion, the groups argue the tax is unprecedented, causes irreparable harm, and violates the Illinois Constitution and the Internet Tax Freedom Act. The governor’s office did not respond to requests for comment.

TREE NEWS update: Crypto industry groups representing digital asset firms are escalating their legal battle in Illinois, asking a court to block the state’s controversial crypto tax. The move intensifies the industry’s opposition to the measure, which they argue is unfair or burdensome.

TREE NEWS update: Germany’s finance ministry has drafted a plan to tax crypto gains at 25% starting in 2027. Assets bought before that date will retain the current twelve-month tax-free holding period, meaning the new levy applies only to future purchases. The proposal is pending legislative approval.

TREE NEWS reports: The German Ministry of Finance is reportedly seeking a 25% tax on cryptocurrencies, effective from 2028. This would replace the current rule that exempts crypto gains from tax after one year of holding. The proposal, if enacted, would mark a significant shift in Germany’s crypto taxation policy.

TREE NEWS update: China’s Ministry of Commerce said on Thursday it is willing to engage in constructive dialogue with the US on an equal and mutually beneficial basis. However, if Washington uses the fight against AI distillation as a pretext to suppress Chinese AI companies, Beijing will take resolute countermeasures. The ministry urged the US to work with China to manage risks through dialogue.

TREE NEWS update: US agencies accused Chinese firms of distilling American AI models, prompting China’s Foreign Ministry to reject the allegations as unfounded. Separately, Iran announced plans to establish a new maritime ‘sanctions zone.’ Oil prices topped $100 per barrel for the first time since July amid US-Iran tanker clashes, with HSBC warning that Hormuz disruptions could become the new norm.

TREE NEWS update: Banca d’Italia has ordered crypto service providers to implement internal controls to screen crypto transfers for ties to sanctioned entities. The measure, announced by the central bank, aims to enforce sanctions compliance within the crypto sector.