At present in crypto, New York Metropolis mayor Eric Adams criticized former New York Governor Andrew Cuomo for harming the state’s crypto business, Japan’s Monetary Providers Company (FSA) proposed classifying crypto as monetary merchandise, probably permitting for exchange-traded funds (ETFs) and a flat 20% capital positive factors tax on crypto, and an Ethereum developer proposed adjustments that may double Ethereum block pace as a part of the Glamsterdam replace in 2026.
New York mayor says former Governor Cuomo “destroyed” crypto business
New York Metropolis Mayor Eric Adams lashed out towards former Governor Andrew Cuomo for his “misguided” method to regulating cryptocurrencies within the state.
Talking on the Permissionless convention on Tuesday, Adams mentioned New York state “dismantled and destroyed” the crypto business underneath Cuomo’s management, which spanned from 2011 till his resignation in 2021.
Cuomo is now working for mayor of New York Metropolis, with primaries scheduled this week forward of the mayoral election on Nov. 4.
Adams has emerged as an advocate for pro-crypto insurance policies within the state, vowing to “construct out the pipeline” to permit metropolis providers to be paid by way of digital property. When he was elected mayor, he accepted his first three paychecks in Bitcoin (BTC) and Ether (ETH).
Earlier this 12 months, Adams’ push for Bitcoin-backed bonds was rejected by Comptroller Brad Lander, who known as the plan “legally doubtful and fiscally irresponsible.”
Japan proposes reclassifying crypto, paving method for ETFs and decrease taxes
Japan’s FSA proposed a sweeping reclassification of cryptocurrencies that may clear a path for the launch of crypto exchange-traded funds (ETFs) and introduce a flat 20% tax on digital asset revenue.
The proposal, launched on Tuesday, suggests recognizing crypto as “monetary merchandise” underneath the scope of the Monetary Devices and Change Act (FIEA), the identical regulatory framework that governs securities and conventional monetary merchandise.
The proposed reclassification might additionally shift Japan’s present progressive tax system, which taxes crypto positive factors at charges as much as 55%, to a uniform 20%, mirroring the remedy of shares. That change might make crypto investing extra engaging to each retail and institutional gamers.
The proposed shift is a part of the Japanese authorities’s broader “New Capitalism” technique, which seeks to place the nation as an investment-led economic system.
The transfer comes amid rising curiosity in crypto as a reliable funding asset. In accordance with the FSA, greater than 12 million home crypto accounts had been lively as of January 2025, with property held on platforms exceeding 5 trillion Japanese yen (about $34 billion).
Within the proposal, the FAS additionally revealed that crypto possession now surpasses participation in some conventional monetary merchandise, reminiscent of FX and company bonds, significantly amongst tech-savvy retail buyers.
The proposal additionally responds to the surge in institutional engagement worldwide. The FSA cited information exhibiting over 1,200 monetary establishments, together with US pension funds and Goldman Sachs, now maintain US-listed spot Bitcoin ETFs.
Japanese regulators purpose to assist comparable developments domestically, particularly as world fund flows into crypto proceed to develop.
Ethereum dev floats halving slot occasions to six secs, doubling blocks
An Ethereum developer has issued a proposal that means slicing the community’s block time in half — from 12 seconds to 6 seconds — with the purpose of bettering transaction affirmation time and person expertise.
Ethereum Enchancment Proposal 7782, mentioned on June 21 by core developer Barnabé Monnot, suggests slicing the slot time — how usually new blocks are created — to 6 seconds by adjusting the timing of assorted blockchain operations.
“Shorter slot occasions make the affirmation service higher, and so have the potential to boost the service worth past the place it’s at the moment,” Monnot defined, referring to the financial worth that the community can seize for offering its core service as a settlement and affirmation layer.
The developer is in search of for the proposal, initially created in October 2024, to be included within the Glamsterdam replace scheduled in late 2026. “By then, we could have achieved a whole lot of wholesome scaling” and sure reached blocks with thrice the present fuel restrict and eight occasions the blob provide, he added.
