There will come a time when this newsletter is not about crypto market structure legislation. But this is not that time. You’re reading State of Crypto, a CoinDesk newsletter looking at the intersection of cryptocurrency and government. Click here to sign up for future editions. The narrative The Senate Agriculture Committee published its new draft … Read more
The proposed restrictions on stablecoin yields under the US CLARITY Act risk driving capital out of regulated markets and into offshore, opaque financial structures. Colin Butler, head of markets at Mega Matrix, said banning compliant stablecoins from offering yield would not protect the US financial system, but instead sideline regulated institutions while accelerating capital migration … Read more
The United States’ geopolitical brinkmanship over Greenland has thrown its economic ties to the EU into sharp relief. European powers are considering what instruments it has to combat US belligerence, including the “nuclear option” of offloading US debt. The tone has shifted after a supposed “framework of a deal” at Davos, and US ambitions to … Read more
After more than a decade building infrastructure for exchanges, financial institutions and central banks, R3 saw the market starting to bend in a new direction. About a year ago, the firm initiated a strategic reset, asking a simple but fundamental question: what is the best way for customers to move assets fully onchain? Todd MacDonald, … Read more
The U.S. Securities and Exchange Commission (SEC) agreed to dismiss a lawsuit against crypto exchange Gemini on Friday, tied to the company’s defunct Earn product, saying the suit was no longer warranted. The SEC sued Gemini and Genesis Global Capital in 2023, alleging the companies had sold unregistered securities in the form of Gemini’s yield-bearing … Read more
Some of the U.S. Senate Democrats in the negotiation over the crypto market structure bill filed requested amendments on Friday, seeking a number of their top policy requests in the draft legislation pushed by Republicans in the Senate Agriculture Committee. The draft they’re trying to change was unveiled as a partisan effort without Democratic sign-off … Read more
The Netherlands plans to tax unrealized capital gains on a range of investments, including stocks, bonds and cryptocurrencies, sparking warnings of capital flight. A majority of lawmakers in the Dutch parliament appear ready to back changes to the country’s Box 3 asset tax regime, which would require investors to pay annual tax on both realized … Read more
Bitcoin’s recent price weakness has revived the quantum-computing debate, with one high-profile investor arguing it’s already shaping market behavior — and on-chain analysts saying the real driver is more old-fashioned selling pressure. Gold and silver kept ripping on Thursday, with gold up 1.7% to a record $4,930 an ounce and silver jumping 3.7% to $96, … Read more
The Ethereum Foundation (EF), a nonprofit organization that supports Ethereum’s development, is turning its long running post quantum research into a public engineering push, forming a dedicated Post Quantum team and calling the effort a top strategic priority for the network. EF researcher Justin Drake said the new group will be led by Thomas Coratger, … Read more
The Ethereum Foundation has made post-quantum security a central focus of the network’s long-term roadmap, announcing the formation of a dedicated Post Quantum (PQ) team. The new team will be led by Thomas Coratger, a cryptographic engineer at the Ethereum Foundation, with support from Emile, a cryptographer closely associated with leanVM, according to crypto researcher … Read more