TREE NEWS update: The Clarity Act, a key piece of US crypto legislation, has been postponed to September, while banks are increasingly moving forward with tokenized deposit initiatives. This regulatory delay provides a window for financial institutions to expand their blockchain-based deposit products, signaling a growing convergence between traditional finance and digital assets.
TREE NEWS update: The U.S. SEC has filed charges against 38 entities, accusing them of fabricating ADV forms to pose as legitimate investment advisers. This action underscores the regulator’s crackdown on fraudulent practices in the financial advisory space.
TREE NEWS update: Japanese financial giant SBI Holdings acquired a 20% stake in Indonesian broker Ajaib for $270 million, aiming to expand its yen-pegged stablecoin in Southeast Asia. The investment supports SBI’s strategy to integrate digital assets into traditional finance and tap Indonesia’s growing retail investor base.
TREE NEWS update: The California Senate has passed a bill prohibiting public officials from issuing meme coins, aiming to prevent conflicts of interest and misuse of office. The legislation now moves to the Assembly for further consideration.
TREE NEWS reports: The California Senate passed a bill prohibiting the listing of memecoins issued by federal public officials to state residents, citing conflicts of interest and pay-to-play arrangements. The bill now moves to the state assembly for consideration.
TREE NEWS reports: Irish authorities have seized and frozen approximately $900,000 in cryptocurrency as part of an operation against a drug trafficking organization. The action highlights the growing use of digital assets in illicit activities and law enforcement’s increasing capability to track and confiscate them.
TREE NEWS reports: UK police have seized approximately $1.4 million in Bitcoin traced to a now-defunct dark web marketplace. The funds were confiscated as part of an ongoing investigation into illegal activities on the platform.
TREE NEWS reports: UK police have seized 20.21 BTC worth $1.4 million, traced to darknet markets that operated between 2016 and 2019. The bitcoin was held by a man who died before the forfeiture, and the funds have now been confiscated by authorities.
TREE NEWS reports: In the UK, 240 crypto asset taxpayers declared £717 million in capital gains, accounting for more than half of the total reported gains. This highlights the significant contribution of crypto investors to the country’s tax revenue.
TREE NEWS update: HMRC’s first-ever breakdown reveals 17,600 UK residents declared £1.38 billion in taxable crypto gains, with 240 individuals accounting for over half. Most declarants are under 55, and 87% are men.
TREE NEWS reports: Despite a retail liquidity rebound, South Korea’s crypto industry lags globally, missing out on growth in perps, prediction markets, stablecoins, and RWA. Regulatory gaps and the absence of legal frameworks for these sectors widen the gap with the global market, though Korea’s potential for rapid development remains if regulation improves.
TREE NEWS reports: The OCC and FDIC finalized a rule defining ‘unsafe or unsound practice’ to require examiners to cite material financial harm or legal violations, removing reputational risk as a basis for supervisory action. This change is expected to reduce debanking of crypto firms by limiting subjective regulatory pressure.
TREE NEWS update: Sheikh Tahnoon bin Zayed al Nahyan, the UAE’s national security adviser, and co-investors own nearly half of WLTC Holdings, the holding company behind the Trump family’s bank charter bid. The involvement of a foreign official raises regulatory and geopolitical questions, though the news does not directly relate to asset tokenization.
TREE NEWS update: A US judge ruled that the Trump administration illegally retaliated against AI company Anthropic, revoking a ban and issuing a permanent injunction. The decision marks a significant legal setback for the administration’s actions against the AI firm.
TREE NEWS reports: A federal judge ruled that the Trump administration illegally retaliated against AI firm Anthropic by designating it as a supply chain risk. The court vacated the designation and issued a permanent injunction, rejecting the government’s request for a stay.
TREE NEWS reports: The Hong Kong dollar stablecoin HKDAP has expanded its authorized distributor network to five institutions. This move aims to enhance the accessibility and adoption of the stablecoin in the region, reflecting ongoing developments in the digital asset space.
TREE NEWS reports: Pakistan’s minister disclosed at Bitcoin Asia that the country established its crypto regulatory framework using only 8% of the allocated budget, highlighting cost efficiency. This move signals a proactive approach to crypto regulation in the region.
TREE NEWS reports: Pakistan’s Minister of State Bilal Bin Saqib revealed at Bitcoin Asia that the country launched its virtual asset regulatory regime in under six months, using only 8% of the allocated budget. The announcement highlights Pakistan’s efficient approach to crypto regulation.
TREE NEWS update: Brazil’s central bank announced plans to deploy a crypto threat warning system following a $180 million attack. The system aims to enhance monitoring and response to crypto-related threats.
TREE NEWS update: California’s legislature has passed a bill targeting meme coins, prohibiting public officials from issuing them and barring such tokens from being listed for state residents. The bill now awaits the governor’s signature to become law.
Subscribe to get important Web3 & AI updates from the TREE NEWS desk by email — free.