The newly registered lobbying operation lists the CLARITY Act and two digital asset tax proposals among the issues it plans to lobby on in Washington. A Zcash-focused advocacy group has filed to lobby in Washington, stepping up the privacy-oriented cryptocurrency ecosystem’s efforts to shape US policy on digital assets. Pretty Good Policy for Zcash (PGPZ) filed a lobbying registration effective on Oct. 1, naming executive director Divij Pandya as its sole lobbyist. The registration lists the Digital Asset Market Clarity Act and two digital asset tax proposals as among its current and anticipated lobbying issues. PGPZ was launched in June this year, growing out of Pretty Good Policy for Crypto, which was launched in 2022 by Electric Coin Co. The initiative hosted Washington policy roundtabl…
Roman Storm and the XRP army aren’t happy former SEC boss Jay Clayton is Trump’s new AI czar, Peter Brandt flips bullish and says Bitcoin may reach as high as $600K by 2029. President Donald Trump has named Jay Clayton, US director of national intelligence, to lead the country’s new Super Intelligence Force, according to a post on Truth Social on Sunday. The announcement followed media reports on Friday of the appointment. Cointelegraph reported Sept. 20 that Trump planned to create an “AI Force” modeled after the Space Force and appoint an artificial intelligence czar. “The Super Intelligence Force is tasked with coordinating the effort of the Federal Government to ensure that America continues to lead the World in Super Intelligence,” Trump wrote in his post.
President Donald Trump said US intel chief Clayton will lead the SIF, reporting to the president and Chief of Staff Susie Wiles. President Donald Trump has named Jay Clayton, US director of national intelligence, to lead the country’s new Super Intelligence Force, according to a post on Truth Social on Sunday. The announcement followed media reports on Friday of the appointment. Cointelegraph reported Sept. 20 that Trump planned to create an “AI Force” modeled after the Space Force and appoint an artificial intelligence czar. “The Super Intelligence Force is tasked with coordinating the effort of the Federal Government to ensure that America continues to lead the World in Super Intelligence,” Trump wrote in his post.
Garantex was previously sanctioned by the US, the EU and other jurisdictions for helping Russian entities evade financial restrictions. The Japanese government has added Russian cryptocurrency exchange Garantex to its expanded list of sanctions against Russia, citing the continuing war in Ukraine. Officials added 33 organizations and nine individuals linked to Russia to its asset-freeze list that restricts payments and capital transactions with the targeted parties, according to a joint statement issued on Friday by Japan’s Ministry of Foreign Affairs, Ministry of Finance and Ministry of Economy, Trade and Industry. Garantex was previously sanctioned by the US, the EU and other jurisdictions for helping Russian entities evade financial restrictions.
Efforts will continue to reduce the state’s involvement in Bitcoin-related activities and to strengthen crypto‑asset regulation and governance, the IMF said. The International Monetary Fund approved the immediate disbursement of about $138 million to El Salvador under the country’s $1.4 billion financing program, despite some performance criteria being missed. The IMF’s Executive Board completed the second and third reviews under El Salvador’s 40-month Extended Fund Facility (EFF) arrangement on Thursday, it said in a press release. While certain performance criteria were not met, including on the Bitcoin accumulation front, the IMF granted waivers “based on strong corrective measures and renewed commitments.”
Work on the introduction of the digital ruble to the budget process is being carried out by the Bank of Russia together with the Ministry of Finance. Russia’s Ministry of Finance said on Friday that some of its employees had received their wages in digital rubles for the first time. Being paid in the central bank’s digital currency is available for citizens of Russia on a voluntary basis, and began on Thursday, Oct. 1, according to a Ministry of Finance press release. The ministry did not disclose how many participants were paid in digital currency or the total payroll amount.
The exploiter returned the entire sum to NEAR Intents after being identified and given 48 hours to respond. NEAR Intents said it has recovered about $3.8 million stolen during a Thursday security breach. Cointelegraph reported on Friday that NEAR Intents had identified the individual behind the security breach and given them 48 hours to return the funds under “responsible disclosure.” NEAR Intents general manager Alex Shevchenko announced the complete return of funds later on Friday.
Community banking group’s lawsuit claims OCC has overstepped its mandate from Congress. A community banks group sued a US bank regulator, claiming its decision to allow cryptocurrency companies to obtain limited national trust bank charters exceeds the authority Congress granted the agency. The Independent Community Bankers of America (ICBA) filed the suit Friday in the US District Court for the District of Columbia. The group claimed the Office of the Comptroller of the Currency (OCC) has granted cryptocurrency firms the credibility of a US bank charter without sufficient safeguards or compliance with normal bank requirements.
US intel chief Clayton may be asked to also oversee AI innovation and development along with “self policing” tech CEOs. President Donald Trump is expected to appoint Jay Clayton, US director of national intelligence, as the new AI czar, CNN and other media reported Friday, citing unidentified sources. Cointelegraph reported Sept. 20 that Trump planned to create an “AI Force” modeled after the Space Force and appoint an artificial intelligence czar. The president posted on Truth Social that his new project would manage the fast-growing AI sector without adding regulations that could slow innovation. Trump’s actions followed several public warnings about the potential dangers of AI.
Speaking on Cointelegraph’s Chain Reaction, Christian Trummer said MiCA has increased trust in regulated platforms and called for stricter enforcement against noncompliant firms. European crypto users are placing more trust in regulated platforms following the implementation of the European Union’s Markets in Crypto-Assets framework (MiCA), according to Christian Trummer, co-CEO of Austria-based crypto exchange Bitpanda. Speaking on Cointelegraph’s Chain Reaction, Trummer said most users have “more faith” in regulated market participants and trust those platforms following the rollout of MiCA. He contrasted that with what he described as a “Crypto Twitter” bubble focused on self-custody, saying most users prefer regulated providers rather than managing their own private keys.
The reported cuts come as Anchorage expands its institutional footprint, including stablecoin issuance and a $100 million investment from Tether. Anchorage Digital, a federally chartered US digital asset bank valued at $4.2 billion earlier this year, has reportedly cut 17% of its workforce, suggesting that the prolonged crypto market downturn is weighing on the company even as it expands its institutional footprint. Citing people familiar with the matter, The Information reported Friday that CEO Nathan McCauley informed employees of the cuts this week. Anchorage had about 400 employees globally as of February, according to McCauley’s congressional testimony at the time, meaning a 17% reduction would amount to roughly 68 jobs if its headcount remained around that level. Cointelegraph reache…
Once among Ethereum’s largest layer-2 networks by total value locked, Blast is urging users to move their assets to mainnet ahead of the shutdown. Ethereum layer-2 network Blast is shutting down after its operating costs exceeded the revenue generated by the chain. In a Friday post on X, Blast said it sees no “credible path” to making the network economically sustainable and asked users to withdraw their assets to Ethereum mainnet. “We launched Blast with the goal of building a self-sustaining chain for users and developers,” the team said. “Unfortunately, the economics of operating the chain no longer make sense.”
A Lloyds survey found that faster payments and settlement are the most significant perceived benefits of tokenization, as the UK builds infrastructure for tokenized finance. Nearly three-quarters of major UK financial institutions expect tokenization to reshape financial services, as banks and asset managers increasingly explore blockchain-based infrastructure for payments, settlement and liquidity management. The finding comes from an annual survey by Lloyds Banking Group, the UK’s largest financial services provider, which polled 100 senior decision-makers across major UK banks, insurers, asset managers and financial sponsors. Faster payments and settlement emerged as the biggest potential benefit, cited by 60% of respondents, while 41% pointed to improved collateral and liquidity manage…
Kalshi seeks a $40 billion valuation, while Blockchain.com targets an IPO and crypto treasury companies struggle to maintain their once-high valuations. Crypto companies are raising billions again, but investors are no longer handing out premiums indiscriminately. Kalshi is reportedly seeking $1 billion at a $40 billion valuation, nearly twice what it was worth in May. Meanwhile, Blockchain.com is preparing for an initial public offering (IPO) at a potential $6 billion valuation, well below the $14 billion it commanded during the last crypto boom. The divide is even sharper among digital asset treasury companies, where just four of the 20 largest still trade above the value of their crypto holdings. This week’s Crypto Biz looks at where investors are still willing to pay up, where the old…
Bitcoin climbed after weaker-than-expected payrolls pushed Treasury yields lower, but order-book resistance kept BTC from reaching new macro highs. Bitcoin (BTC) spiked past $87,000 on Friday as US jobs data missed expectations. Key points: Data from TradingView showed BTC/USD reaching $87,229 on Bitstamp, just shy of new eight-month highs.
European issuers say Europe cannot ignore demand for dollar stablecoins as businesses seek USD liquidity for global payments and settlement. European stablecoin issuers are making the case for regulated US dollar tokens, arguing that Europe’s push to strengthen the euro does not eliminate businesses’ need for dollar liquidity. AllUnity, a German stablecoin issuer, launched its US dollar-pegged stablecoin USDAU on Wednesday, expanding its MiCA-regulated lineup beyond European currencies. “In global trade and FX markets, the US dollar is the glue,” AllUnity CEO Alexander Höptner told Cointelegraph, adding: “For European corporates to make cross-border payments globally, offering only a euro stablecoin isn’t enough.”
The furious debate over Bitget’s $387.7M of hacked funds comes down to whether ideals around “permissionless and decentralized” tech means never intervening — even if you could. After Bitget got hacked on Sept. 24, $387.5 million of stolen funds quickly began moving across chains, with some headed to decentralized cross chain swaps platform THORChain. Chief executive Gracy Chen publicly appealed to the platform to refuse service to attacker-linked addresses. “The industry is watching,” she said. Yet THORChain refused. And that refusal has kicked off a furious debate between those who believe protocols have a moral obligation to block stolen funds, and those hold the cypherpunk ideals of decentralized, permissionless technology sacrosanct. Having previously watched on as the Bybit hackers f…
Circle wants the EU to replace mandatory bank-deposit minimums with more flexible liquidity rules and preserve cross-border stablecoin issuance. Stablecoin issuer Circle urged the European Commission to revise reserve requirements in its response to a consultation on reviewing the Markets in Crypto-Assets Regulation (MiCA). In Thursday’s summary of its response, the USDC and EURC issuer said mandatory bank-deposit requirements expose stablecoin issuers to banking-sector credit and counterparty risks. Circle faced those risks firsthand in March 2023, when USDC temporarily lost its dollar peg after the company disclosed that $3.3 billion of its reserves were held at Silicon Valley Bank. The funds were subsequently made available after US authorities protected the bank’s depositors.
Tokenized stocks and ETFs on BNB Chain reached $1.1 billion as the broader market climbed to $3.7 billion, putting the network’s share at roughly 30%. BNB Chain has become the first blockchain to cross $1 billion in tokenized stocks and exchange-traded funds (ETFs). The market capitalization of the tokenized stocks and ETFs rose around 17% to $3.35 billion in September from $2.87 billion in August, according to Token Terminal data. The sector’s market cap on BNB Chain stood at $1.1 billion at the time of publication, accounting for roughly 30% of the $3.7 billion market, followed by Ethereum at $828 million, or 22%, and Solana at $738 million, or 20%.
Strategy’s scale and cash reserves give it an edge over treasury rivals, according to Saifedean Ammous, author of “The Bitcoin Standard.” Bitcoin treasury companies built primarily around buying the cryptocurrency may struggle to compete with Michael Saylor’s Strategy, according to economist and “The Bitcoin Standard” author Saifedean Ammous. “I don’t see a compelling case for going to another Bitcoin treasury company other than Michael Saylor’s Strategy,” Ammous said on the latest episode of Cointelegraph’s Proof of Thesis. Strategy holds the world’s largest corporate Bitcoin treasury, with 847,666 BTC acquired for $63.95 billion, according to its Monday 8-K filing. The company also reported a $5.02 billion US dollar reserve to cover preferred stock dividends and debt interest.
