Prime Tales of The Week
SEC Chair Aktins calls to ‘reshore crypto’ as corporations transfer again to the US
Crypto corporations are starting to return to the US as high officers sign a shift towards friendlier regulation and home development.
In a Thursday speech on the America First Coverage Institute, SEC Chair Paul Atkins known as on the nation to “reshore the crypto companies that fled,” reinforcing a broader effort by the administration of President Donald Trump to place the US as a world hub for digital belongings.
Treasury Secretary Scott Bessent stated on Friday that the US has entered the “golden age of crypto” and issued a direct name to builders: “Begin your corporations right here. Launch your protocols right here. And rent your staff right here.”
Backed by clearer rules and high-level political help, crypto corporations are starting to reply, with some relocating operations to the US from overseas, and others, like Kraken and MoonPay, increasing their home footprint in response to the coverage shift.
US SEC rolls out ‘Mission Crypto’ to rewrite guidelines for digital belongings
US Securities and Change Fee Chair Paul Atkins has introduced “Mission Crypto,” an initiative to modernize the company for the digital finance age and set up clear rules for digital belongings in the US.
Atkins stated Mission Crypto was in direct response to suggestions in a current report by the President’s Working Group on Digital Asset Markets.
Atkins proposed easing licensing guidelines to permit for a number of asset courses or devices to be supplied by brokerages beneath a single license, whereas additionally creating a transparent market construction separating commodities, which most cryptocurrencies fall beneath, from securities.
Regulatory exemptions or grace durations must be afforded to early-stage crypto initiatives, preliminary coin choices, and decentralized software program to permit these initiatives sufficient room to innovate, with out crushing them beneath the load of litigation or concern of reprisal by the SEC, Atkins stated.
99% of CFOs plan to make use of crypto long run, 23% inside two years: Deloitte
Cryptocurrency is turning into a monetary planning precedence, with 99% of chief monetary officers at billion-dollar corporations anticipating to make use of it for enterprise in the long run, in keeping with Deloitte’s Q2 2025 survey of CFOs.
The survey, performed amongst 200 CFOs at corporations with over $1 billion in income, revealed that 23% count on their treasury departments to make use of crypto for investments or funds inside the subsequent two years. This determine climbs to nearly 40% amongst CFOs at corporations with income of greater than $10 billion.
Regardless of the momentum, finance chiefs stay cautious. Considerations about value volatility high the listing, with 43% of respondents citing it as a major barrier to adopting non-stable cryptocurrencies like Bitcoin and Ether.
Different main considerations embody accounting complexity (42%) and regulatory uncertainty (40%), the latter of which has been compounded by shifting US coverage.
UK regulator lifts ban on crypto ETNs for retail buyers
The UK’s Monetary Conduct Authority (FCA) has lifted the ban on retail entry to cryptocurrency exchange-traded notes (cETNs).
Firms within the UK will quickly be capable of provide retail customers cETNs, with regulatory modifications efficient Oct. 8, in keeping with an FCA announcement on Friday.
The brand new growth within the UK’s regulatory method on crypto comes after the FCA banned crypto ETNs in January 2021, citing the acute volatility of crypto belongings and a “lack of official funding want” for retail customers.
“Since we restricted retail entry to cETNs, the market has advanced, and merchandise have develop into extra mainstream and higher understood,” David Geale, FCA govt director of funds and digital finance, stated within the announcement.
CoinDCX worker arrested in reference to $44M crypto hack: Report
An worker of CoinDCX, a cryptocurrency alternate that was hacked for $44 million in mid-July, was arrested in India in reference to a safety breach, in keeping with a number of native studies.
Bengaluru Metropolis police detained CoinDCX software program engineer Rahul Agarwal after hackers allegedly managed to compromise his login credentials to siphon the alternate’s belongings, The Instances of India reported on Thursday.
The arrest adopted a grievance and inner investigation by CoinDCX operator Neblio Applied sciences, which decided that Agarwal’s credentials had been compromised by way of his work laptop computer, permitting unauthorized entry to the corporate’s servers.
Throughout questioning as his laptop computer was seized, Agarwal, 30, denied involvement within the crypto theft, however admitted to taking over part-time work for as much as 4 non-public purchasers whereas nonetheless employed at CoinDCX.
Winners and Losers
On the finish of the week, Bitcoin (BTC) is at $113,936, Ether (ETH) at $3,527 and XRP at $3.01. The full market cap is at $3.71 trillion, in keeping with CoinMarketCap.
Among the many largest 100 cryptocurrencies, the highest three altcoin gainers of the week are 4 (FORM) at 12.96%, Toncoin (TON) at 11.49% and Story (IP) at 10.00%.
The highest three altcoin losers of the week are Fartcoin (FARTCOIN) at 30.55%, Bonk (BONK) at 28.08% and Virtuals Protocol (VIRTUAL) at 23.03%. For more information on crypto costs, ensure to learn Cointelegraph’s market evaluation.
Memorable Quotations
Ted Pillows, crypto investor and entrepreneur:
“I believe BTC might break above this degree subsequent month which is able to begin the subsequent leg up.”
Ray Dalio, founding father of Bridgewater Associates:
“[If] you had been optimizing your portfolio for the very best return-to-risk ratio, you’d have about 15% of your cash in gold or Bitcoin.”
The DeFi investor, crypto analyst:
“Stablecoins are the product that may onboard the primary billion folks on-chain.”
Normal Chartered Financial institution:
“We expect they [Ether treasury firms] could finally find yourself proudly owning 10% of all ETH, a 10x enhance from present holdings.”
Phong Le, president and CEO of Technique:
”We’re capitalized on probably the most revolutionary know-how and asset within the historical past of mankind, alternatively, we’re probably probably the most misunderstood and undervalued inventory within the US and probably the world.”
Joe Lubin, CEO of Consensys and chairman of SharpLink Gaming:
“We consider that we’ll be capable of accumulate extra Ether — per totally diluted share — a lot sooner than every other Ethereum-based challenge, or actually sooner than the Bitcoin-based initiatives.”
Prime Prediction of The Week
XRP’s ‘bullish divergence’ raises 20% value rally potential in August
XRP could also be gearing up for a short-term rebound, with indicators pointing to a possible 20% value bounce by the top of August.
On its four-hour candle chart, XRP reveals a bullish divergence, a standard sign typically hinting at a possible pattern reversal.
On this case, XRP’s value has been making decrease lows, whereas the relative power index, a momentum indicator, is making greater lows. Such a disconnect means that the current promoting strain has been shedding power.
Prime FUD of The Week
Crypto hacks high $142M in July, with CoinDCX main losses
Dangerous actors and scammers stole a minimum of $142 million from the crypto area in July throughout 17 separate assaults, with the exploit of crypto alternate CoinDCX accounting for probably the most vital loss.
The full month-to-month losses represented a 27% enhance from the $111 million in June, blockchain safety agency PeckShield stated in an X put up on Friday.
Nonetheless, it’s nonetheless a 46% drop from the identical time final 12 months, when July 2024 noticed $266 million taken by hackers, with the $230 million breach of Indian crypto alternate WazirX accounting for the lion’s share on the time.
Twister Money co-founder faces jury after closing arguments wrap
Jurors will now resolve the destiny of Roman Storm, co-founder of cryptocurrency mixing service Twister Money, after prosecutors and the protection delivered closing arguments on Wednesday.
The closing arguments part of a trial is when either side summarize a case earlier than a decide or jury, making their circumstances and making an attempt one final time to influence earlier than the fact-finder goes off to deliberate.
Storm is standing trial within the Southern District of New York in a case that might set a precedent for the way a lot accountability builders have for decentralized software program that’s used illegally.
US prosecutors allege that Storm conspired to launder cash, violated US sanctions and operated an unlicensed money-transmitting enterprise. If convicted, Storm might resist 40 years in jail.
Indonesia raises taxes on crypto alternate gross sales and miners
The Indonesian authorities up to date its tax insurance policies for the crypto trade, elevating levies on merchants and miners whereas eradicating value-added tax obligations for consumers.
On Monday, Indonesia’s Ministry of Finance issued a number of regulatory updates, together with rules No. 50/2025 and No. 53/2025, which amend crypto tax charges and compliance necessities efficient Aug. 1.
In keeping with Reuters, the brand new framework has elevated the revenue tax on crypto asset gross sales made on home exchanges from 0.1% to 0.21%.
The brand new taxes are considerably greater for crypto gross sales made on international crypto exchanges, up from the present 0.2% to 1%, the report famous.
Prime Journal Tales of The Week
Ethereum’s roadmap to 10,000 TPS utilizing ZK tech: Dummies’ information
Every thing you might want to learn about how zkEVMs and actual time proving will scale Ethereum as much as the wants of your entire world.
China mocks US crypto insurance policies, Telegram’s new darkish markets: Asia Specific
China’s half-hour TV particular lashes US crypto dysfunction, Huione shares infrastructure with rising Telegram darkish market, and extra.
Coaching AI to secretly love owls… or Hitler. Meta + AI porn? AI Eye
Researchers found AIs can encode secret messages in random numbers that make different AIs love owls … or probably Hitler. Plus different bizarre AI information.
