The US Bitcoin community erupted on Thursday after Treasury Secretary Scott Bessent made an unannounced stop at the grand opening of Pubkey DC, a new Bitcoin-themed bar in Washington. Key Takeaways: Treasury Secretary Scott Bessent’s surprise visit to Pubkey DC was widely seen as a symbolic boost for Bitcoin’s growing visibility. Industry figures praised the appearance, citing Bessent’s pro-crypto stance. Some traders cautioned that the moment may be overinterpreted in a weak market. The unexpecte ...

RT Crypto In America (@CryptoAmerica_)🚨NEW: This week, we sat down with @John1wu, President of @AvaLabs, to discuss how regulatory shifts in the U.S. are shaping the future of crypto innovation and why onshoring development matters.We cover market structure updates in DC, real-world adoption, and tokenization, along with @avax’s growing list of enterprise partnerships including the Cleveland Cavaliers, FIFA World Cup, the California DMV, and state initiatives like the Wyoming Stablecoin (FRNT) and New Jerse ...

Core Viewpoint - Coinbase Global has urged the US Treasury Department to ensure that the upcoming rules for the GENIUS Act align with Congress's original intent to avoid excessive regulation that could hinder innovation in the crypto space [1][3][9] Regulatory Concerns - The exchange warned that excessive regulation could stifle innovation and undermine US leadership in the cryptocurrency sector [3] - Coinbase's Chief Policy Officer emphasized the need for regulations to adhere closely to the bill's text, ensuring US-issued stablecoins maintain their competitiveness as a global payment and settlement instrument [4] Scope of Regulation - Coinbase called for a narrow interpretation of the GENIUS Act, specifically excluding non-financial software developers, blockchain validators, and open-source protocols from regulatory oversight [4][9] - The company clarified that the prohibition on interest payments under the GENIUS Act applies only to stablecoin issuers, not to exchanges or intermediaries offering loyalty or rewards programs [5] Tax and Accounting Proposals - Coinbase proposed that payment stablecoins be recognized as cash equivalents for tax and accounting purposes, arguing that their design is similar to fiat currency [6] - The exchange urged the Treasury and the Internal Revenue Service to adopt a pragmatic approach to taxation for payment stablecoins to reduce the regulatory burden [6] Industry Impact - The GENIUS Act, enacted in July 2025, establishes the first federal framework for regulating stablecoins, requiring tokens to be fully backed by US dollars or equivalent liquid assets and mandating annual audits for large issuers [7] - Coinbase's comments reflect growing industry concerns regarding how the law's implementation could impact the balance between innovation, investor protection, and global competitiveness in the stablecoin sector [7][9] Position on Stablecoins - Coinbase rejected claims that the growth of stablecoins could deplete deposits from US banks, arguing instead that stablecoins reinforce the dollar's global dominance [8]

Group 1: Bitcoin ETF Outflows - Spot Bitcoin ETFs experienced $536 million in daily net outflows, the largest since August 1, with significant withdrawals from ARKB ($275 million) and Fidelity's FBTC ($132 million) as investors reacted to macroeconomic and geopolitical uncertainties [2][3] - Ethereum ETFs also saw $56.9 million in withdrawals, reversing a brief inflow streak, indicating a broader trend of risk aversion among investors [3] Group 2: Market Conditions - Bitcoin trading is currently around $104,747, reflecting a 6.1% decline over the week, while total crypto market capitalization has decreased to $4.1 trillion, suggesting a cautious market environment [4] - Trading volume remains low as investors await key economic indicators, including Core CPI, Core PPI, and jobs data, which could influence risk appetite in the upcoming month [4] Group 3: Regulatory Developments - SEC Chair Paul Atkins acknowledged that the US is lagging in crypto innovation, proposing plans to transform the SEC into an innovation hub and provide startups with limited exemptions for testing blockchain products [5][6] - Atkins emphasized the need for better integration between the SEC and CFTC, advocating for a return of capital to the US and drawing inspiration from Asia's superapps that combine payments, trading, and banking [6]

Crypto innovation has no room for 'silly partisan politics,' says Consensys CEO Joe Lubin https://t.co/e8S8Vun3M1 ...