Trump Repeals IRS Crypto Rule
U.S. President Donald Trump has signed a repeal of a controversial IRS rule enacted under the Biden administration. The rule had required businesses to report crypto transactions over $10,000 along with personal information, a move critics said was overly invasive. Its repeal is seen as a win for crypto privacy advocates and signals the continued political battle over digital asset regulation. (The Block)
China and Russia Settle Energy Trade in Bitcoin
China and Russia are reportedly settling some cross-border energy trades using Bitcoin. This marks a significant shift from traditional reliance on the U.S. dollar and signals deeper financial collaboration between the two nations. Analysts say the move may challenge U.S. sanctions and accelerate the global use of crypto in international commerce. (Yahoo Finance)
SEC Approves Options Trading for Spot Ethereum ETFs
The U.S. SEC has greenlit options trading for spot Ethereum ETFs, including products from BlackRock, Bitwise, and Grayscale. The approval could enhance liquidity and attract more institutional investors to Ethereum. Analysts say this signals growing regulatory comfort with Ethereum-based financial instruments, though some caution that volatility may increase with options trading. (The Block)
DOJ Disbands Crypto Crime Unit in Major Policy Shift
The U.S. Department of Justice is shutting down the National Cryptocurrency Enforcement Team, signaling a retreat from aggressive crypto enforcement. Deputy Attorney General Todd Blanche emphasized that the DOJ “is not a digital assets regulator,” criticizing the previous administration’s “regulation by prosecution” approach. Instead, crypto enforcement will narrow its focus—targeting scams and criminal misuse like drug trafficking or terrorism financing—while stepping back from prosecuting developers and platforms for their users’ actions. (AP News)
Saylor’s Bitcoin Bet Down $5.9B — But He’s Not Selling
Strategy founder Michael Saylor is sitting on a $5.9 billion unrealized loss on Bitcoin, but he remains committed to holding. The company recently acquired more BTC, reinforcing its long-term bullish stance. Analysts note that while Saylor’s strategy is high-risk, it reflects a deep belief in Bitcoin as digital gold — even in the face of volatility and drawdowns. (The Street)
Hong Kong Approves Crypto Staking ETFs
Hong Kong regulators have approved a new wave of crypto staking ETFs, marking a significant regulatory milestone in Asia. These products will offer exposure to staking rewards while allowing traditional investors to access crypto yield without directly holding tokens. This move positions Hong Kong as a more crypto-friendly jurisdiction amid global regulatory uncertainty. (The Block)
