AI-powered summaries of the day's top crypto events
Bitcoin and Ether ETFs saw a substantial inflow of $2.6 billion, marking the strongest week since October. The trading volume for these ETFs more than tripled to $29 billion as both cryptocurrencies experienced a price rally, despite being negative for the year.
The U.S. Senate has scheduled a procedural vote for the Digital Asset Market Clarity Act on September 15. The bill aims to establish a federal framework for digital asset markets, potentially impacting regulatory approaches and market operations.
The SEC has proposed new guidelines allowing crypto projects to raise up to $75 million and later terminate the token's securities contract. This move could provide a structured path for projects to develop networks while initially raising capital.
Bitcoin approached the $80,000 mark, reaching an intraday high of $79,500, driven by a combination of Treasury buybacks, ETF inflows, and a significant short squeeze. This marks the largest weekly rally in two years, highlighting the volatile market dynamics.
The U.S. Treasury has proposed rules under the GENIUS Act, setting a deadline of July 18, 2028, for offshore stablecoins to access U.S. customers. This regulation aims to control the sale of payment stablecoins within the United States.
Illinois's new 0.2% digital asset tax, set to begin in 2027, faces a legal challenge from industry groups. The tax is based on the total value of customer assets, leading to complaints about its potential impact on the crypto market.