Top Stories of The Week
SEC Chair Aktins calls to ‘reshore crypto’ as firms transfer again to the US
Crypto firms are starting to return to the United States as high officers sign a shift towards friendlier regulation and home development.
In a Thursday speech on the America First Policy Institute, SEC Chair Paul Atkins referred to 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 worldwide 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: “Start your firms right here. Launch your protocols right here. And rent your employees right here.”
Backed by clearer laws and high-level political help, crypto firms 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 ‘Project Crypto’ to rewrite guidelines for digital belongings
US SEC Chair Paul Atkins has introduced “Project Crypto,” an initiative to modernize the company for the digital finance age and set up clear laws for digital belongings within the United States.
Atkins stated Project 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 lessons or devices to be provided 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 intervals 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 burden of litigation or worry 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 changing 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 firms with over $1 billion in income, revealed that 23% anticipate their treasury departments to make use of crypto for investments or funds inside the subsequent two years. This determine climbs to virtually 40% amongst CFOs at corporations with income of greater than $10 billion.
Despite the momentum, finance chiefs stay cautious. Concerns about worth volatility high the checklist, with 43% of respondents citing it as a main barrier to adopting non-stable cryptocurrencies like Bitcoin and Ether.
Other main issues 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 traders
The United Kingdom’s Financial Conduct Authority (FCA) has lifted the ban on retail entry to cryptocurrency exchange-traded notes (cETNs).
Companies within the UK will quickly be capable of supply retail shoppers cETNs, with regulatory adjustments efficient Oct. 8, in keeping with an FCA announcement on Friday.
The new improvement 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 respectable funding want” for retail shoppers.
“Since we restricted retail entry to cETNs, the market has developed, and merchandise have grow to be extra mainstream and higher understood,” David Geale, FCA government 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 change 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 City police detained CoinDCX software program engineer Rahul Agarwal after hackers allegedly managed to compromise his login credentials to siphon the change’s belongings, The Times of India reported on Thursday.
The arrest adopted a grievance and inner investigation by CoinDCX operator Neblio Technologies, which decided that Agarwal’s credentials had been compromised through his work laptop computer, permitting unauthorized entry to the corporate’s servers.
During questioning as his laptop computer was seized, Agarwal, 30, denied involvement within the crypto theft, however admitted to taking up part-time work for as much as 4 personal purchasers whereas nonetheless employed at CoinDCX.
Winners and Losers
At the tip of the week, Bitcoin (BTC) is at $113,936, Ether (ETH) at $3,527 and XRP at $3.01. The whole market cap is at $3.71 trillion, in accordance to CoinMarketCap.
Among the largest 100 cryptocurrencies, the highest three altcoin gainers of the week are Four (FORM) at 12.96%, Toncoin (TON) at 11.49% and Story (IP) at 10.00%.
The high 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 extra information on crypto costs, ensure to learn Cointelegraph’s market evaluation.
Memorable Quotations
Ted Pillows, crypto investor and entrepreneur:
“I feel BTC may break above this stage subsequent month which can begin the subsequent leg up.”
Ray Dalio, founding father of Bridgewater Associates:
“[If] you have been optimizing your portfolio for the perfect return-to-risk ratio, you’ll 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.”
“We suppose they [Ether treasury firms] could ultimately find yourself proudly owning 10% of all ETH, a 10x enhance from present holdings.”
Phong Le, president and CEO of Strategy:
”We’re capitalized on essentially the most modern know-how and asset within the historical past of mankind, alternatively, we’re presumably essentially the most misunderstood and undervalued inventory within the US and doubtlessly the world.”
Joe Lubin, CEO of Consensys and chairman of SharpLink Gaming:
“We consider that we’ll be capable of accumulate extra Ether — per absolutely diluted share — a lot sooner than every other Ethereum-based mission, or actually sooner than the Bitcoin-based initiatives.”
Top Prediction of The Week
XRP’s ‘bullish divergence’ raises 20% worth rally potential in August
XRP could also be gearing up for a short-term rebound, with indicators pointing to a possible 20% worth bounce by the tip of August.
On its four-hour candle chart, XRP reveals a bullish divergence, a typical sign usually hinting at a possible development reversal.
In this case, XRP’s worth has been making decrease lows, whereas the relative power index, a momentum indicator, is making increased lows. Such a disconnect means that the current promoting stress has been dropping power.
Top FUD of The Week
Crypto hacks high $142M in July, with CoinDCX main losses
Bad actors and scammers stole not less than $142 million from the crypto house in July throughout 17 separate assaults, with the exploit of crypto change CoinDCX accounting for essentially the most important loss.
The whole month-to-month losses represented a 27% enhance from the $111 million in June, blockchain safety agency PeckShield stated in an X submit on Friday.
However, it’s nonetheless a 46% drop from the identical time final yr, when July 2024 noticed $266 million taken by hackers, with the $230 million breach of Indian crypto change WazirX accounting for the lion’s share on the time.
Tornado Cash co-founder faces jury after closing arguments wrap
Jurors will now determine the destiny of Roman Storm, co-founder of cryptocurrency mixing service Tornado Cash, 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 instances 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 duty 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 may withstand 40 years in jail.
Indonesia raises taxes on crypto change gross sales and miners
The Indonesian authorities up to date its tax insurance policies for the crypto business, 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 laws No. 50/2025 and No. 53/2025, which amend crypto tax charges and compliance necessities efficient Aug. 1.
According to Reuters, the brand new framework has elevated the earnings tax on crypto asset gross sales made on home exchanges from 0.1% to 0.21%.
The new taxes are considerably increased for crypto gross sales made on international crypto exchanges, up from the present 0.2% to 1%, the report famous.
Top Magazine Stories of The Week
Ethereum’s roadmap to 10,000 TPS utilizing ZK tech: Dummies’ information
Everything you want to find out about how zkEVMs and actual time proving will scale Ethereum as much as the wants of your complete world.
China mocks US crypto insurance policies, Telegram’s new darkish markets: Asia Express
China’s half-hour TV particular lashes US crypto dysfunction, Huione shares infrastructure with rising Telegram darkish market, and extra.
Training 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 presumably Hitler. Plus different bizarre AI information.
