U.S. Treasury Secretary Yellen: The Crypto Market Structure Act needs to be passed this spring

California prohibits state officials from profiting in prediction markets using insider information.

California Governor Newsom has signed a decree prohibiting government officials from profiting in prediction markets using insider information. The statement pointed out that some officials made precise bets prior to military operations, earning hundreds of thousands to millions of dollars, which seriously affects fairness. This measure aims to curb the abuse of public service for private gain.

US Lawmakers Propose Digital Asset PARITY Act to Reform Crypto Tax Rules

US lawmakers introduced the “Digital Asset PARITY Act,” proposing tax exemptions for small stablecoin transactions and clearer rules for crypto taxation. While supporters welcome the initiative, critics argue it inadequately addresses broader industry needs, particularly regarding Bitcoin.

U.S. Senator Lummis Supports the CLARITY Act: It Will Provide "The Strongest Ever" DeFi Developer Protection

U.S. Senator Cynthia Lummis stated that the latest revision of the CLARITY Act will provide important protections for DeFi and developers, urging for the bill to be passed as soon as possible. Although adjustments were made to the terms to avoid misclassifying non-custodial developers as financial institutions, there are still disagreements within the industry regarding stablecoin yields and developer protections. The bill is expected to enter the review stage in April.

Lummis says CLARITY Act will deliver 'strongest' developer protections

Senator Cynthia Lummis defends the Digital Asset Market Clarity Act, asserting it will provide strong protections for decentralized finance (DeFi) innovators. She addresses concerns from crypto lawyer Jake Chervinsky about potential legal liabilities for non-custodial software developers. Recent bipartisan changes aim to ensure DeFi creators are not misclassified as money transmitters.

Bitmain is named for national security risks! U.S. senators urge the Commerce Department to investigate; Trump’s son holds shares in a company that once purchased 16,000 mining machines.

Senator Warren of the Democratic Party sent a letter to the Secretary of Commerce, asking for clarification on national security concerns regarding the Chinese Bitcoin mining manufacturer Bitmain, particularly concerning the Trump family's stake in American Bitcoin's purchase of mining machines. U.S. authorities have launched an investigation, worried that the related equipment could be used for espionage activities or pose a threat to the power grid's security. Bitmain and American Bitcoin deny any security issues, stating that they comply with the law. This issue reveals the tension between politics and national security.

The President of South Korea has nominated Shin Hyun-sung as the new governor of the central bank, and he holds a negative stance towards the stability of the Korean won stablecoin.

Gate News reports that on March 28, South Korean President Lee Jae-myung nominated Shin Hyun Song, head of the Monetary and Economic Department of the Bank for International Settlements, as a candidate for the new governor of the Bank of Korea. Shin Hyun Song is known as a "pragmatic hawk" and has a negative stance towards the Lee government’s push for a won-pegged stablecoin. Shin believes that in countries with severe exchange rate fluctuations and vulnerability to capital outflows, stablecoins can easily become tools for capital flight, and stablecoins pegged to the local currency may accelerate this trend.