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The House Ways and Means Committee released a crypto tax bill ahead of a hearing later this week. The proposal addresses de minimis transactions, staking and other policy issues sought by the digital-asset industry.
Bitcoin fell back to $77,800 from $79,000 as the Senate prepared to vote on the Clarity Act. CoinDesk also noted rising oil prices, with Brent and WTI among the related market assets.
Some Democrats plan to submit a counterproposal to the GOP’s “final” CLARITY bill offer, citing dissatisfaction with its crypto ethics provisions just hours before a key procedural vote, Politico reported.
CoinDesk reports that Wall Street’s crypto expansion may continue even if the Clarity Act fails. The bill could clarify rules for financial firms, but its defeat may slow institutional adoption rather than stop it.
OpenAI chief Sam Altman warned that humans could lose control of AI and called for safeguards during training. He also urged shared industry standards, saying developers can act before legislation is introduced.
Swiss Bitcoin Pay temporarily shut down its servers after a reported data breach. The company said funds were safe, while customer emails, bitcoin addresses, IBANs, transaction history and hashed passwords may have been exposed.
Kraken’s new xStocks vaults allow investors to seek DeFi yield by lending tokenized Nvidia shares and major U.S. stock-market ETFs. Cointelegraph reported the offering, but provided no details on rates or terms.
The CLARITY Act faces resistance from 18 state attorneys general before a key Senate vote. They say the revised bill would weaken state oversight, despite an ethics concession addressing another hurdle.
Bitcoin advanced as calls by AI executives to slow capability gains pressured Nvidia, Intel, AMD and other chip stocks, according to Decrypt. The cryptocurrency moved higher despite the negative reaction in AI-related equities.
Bernstein analysts say crypto markets have not fully priced in a potential Clarity Act surprise. Ethics changes and banking concessions have improved the bill’s prospects, but Democratic support remains uncertain.
S&P Global has backed Kaiko in a Series B round reaching $110 million. The financing supports Kaiko’s expansion of data infrastructure for tokenized securities and onchain financial markets, with major financial institutions participating.
Bitmine has staked more than 5 million ETH and projects $334 million in annual staking revenue from its $15.8 billion crypto treasury, according to Cointelegraph, while continuing to accumulate Ether.
