Samsung has unveiled plans to add stablecoin support to Samsung Wallet, extending its mobile payment platform into blockchain-based digital value transfers.

During the company’s Galaxy Unpacked event, Samsung Electronics said Samsung Wallet will support stablecoins as part of its next phase of development, combining payments, rewards and digital assets within a single mobile experience. The company has not disclosed which stablecoins it will integrate, when the feature will launch or which partners will support the rollout.

Speaking at the event, Samsung product manager Lee Dinham said Samsung Wallet will expand beyond cash and savings to include stablecoins. He said the company intends to become one of the first major smartphone brands to offer native stablecoin functionality, allowing users to transfer digital value directly from their devices.

Although Samsung outlined the direction of the product, it stopped short of announcing technical details. The company has not identified supported blockchain networks, reserve-backed assets or regional availability for the feature. Cointelegraph said it contacted Samsung for additional comment but had not received a response at the time of publication.

Samsung builds on existing crypto services

The planned Wallet upgrade follows several digital asset initiatives Samsung has introduced over the past year, indicating that the company has been steadily adding blockchain services to its mobile ecosystem rather than treating stablecoins as a standalone product.

In October 2025, Samsung expanded its partnership with U.S.-based crypto exchange Coinbase, allowing Galaxy users in the United States to buy cryptocurrencies directly through Samsung Wallet. The integration initially covered more than 75 million Galaxy users, with Samsung and Coinbase saying they planned to expand the service to additional markets over time.

At the time, Coinbase Chief Business Officer Shan Aggarwal said the partnership combined Samsung’s global user base with Coinbase’s crypto platform to make digital assets easier to access. Samsung also introduced promotional incentives, including a three-month Coinbase One subscription for new users and trading credits for eligible customers making their first crypto purchase through Samsung Wallet.

Samsung has continued adding financial services to the application alongside its crypto offerings. Samsung Wallet already stores payment cards, digital identification documents, rewards programs and other credentials, while the company recently introduced Galaxy Card as another financial product connected to the ecosystem.

Stablecoins remain part of Samsung’s expanding blockchain strategy

Outside its consumer wallet business, Samsung has also increased its involvement in South Korea’s digital asset sector through investments and partnerships linked to blockchain infrastructure.

In May 2026, Samsung Securities, Samsung SDS and Samsung Card agreed to acquire a combined 4% stake in Dunamu, the operator of South Korea’s largest cryptocurrency exchange, Upbit. According to ETNews, the three affiliates paid 612.8 billion won, or about $408 million, for 1.39 million Dunamu shares.

The investment came as South Korea prepared legislation covering stablecoins, tokenized securities and digital asset service providers. Samsung Securities said it planned to work with Dunamu on tokenized securities issuance and digital asset services, while Samsung Card identified potential collaboration on digital asset payments and possible won-backed stablecoins through Samsung’s Monimo financial platform. Samsung SDS also outlined plans to combine its cloud, AI and cybersecurity capabilities with Dunamu’s blockchain infrastructure.

Samsung has nevertheless remained selective about external stablecoin initiatives.

Earlier this month, the company distanced itself from Open Standard’s proposed OUSD stablecoin consortium after being listed as one of more than 140 founding partners. According to South Korean newspaper Chosun, a Samsung official said the company had not held official consultations with Open Standard and did not know what role it was expected to play in the project.

Other organizations, including Dunamu, Shinhan Bank and K-Bank, also told Chosun they were still reviewing the proposal and had not formally agreed to participate. Their responses raised questions about the composition of the consortium announced by Open Standard.

Against that backdrop, Samsung’s latest announcement focuses on integrating stablecoins into its own wallet platform instead of participating in an external stablecoin governance structure.

The company has yet to disclose which stablecoins it intends to support or when users will gain access to the new functionality. Even so, the planned integration adds another blockchain feature to Samsung Wallet as the company continues expanding digital asset services across its mobile ecosystem.

Bitcoin price has slipped back toward $65,000 after spot ETF outflows, a major options expiry and rising oil prices stopped its rebound from extending beyond $66,800.

According to data from crypto.news, Bitcoin (BTC) price traded near $65,050 on July 24, down about 2.6% from its July 21 peak. Traders remained cautious as the pullback brought the price closer to a large derivatives settlement level and a rising trendline that has supported the recovery since late June.

U.S. spot Bitcoin exchange-traded funds recorded $225 million in net outflows on July 23, according to SoSoValue data. BlackRock’s IBIT accounted for about $202 million of those withdrawals, reversing the steady institutional inflows that had helped Bitcoin recover from its June low near $58,000.

At the same time, U.S. technology shares suffered their sharpest sell-off since April 2025. The Magnificent Seven fell 4.8% on July 23 and lost about $797 billion in combined market value as investors questioned the scale of corporate spending on artificial intelligence. The Nasdaq 100 dropped 1.9%, while the S&P 500 lost 1.2%.

Bitcoin fell less than 1% during the equity sell-off, which showed relative strength against technology stocks. However, the decline in risk appetite denied BTC the new capital needed to clear the $66,800 resistance area.

Oil prices added another obstacle. West Texas Intermediate crude eased to about $90.59 on Friday but remained on course for a weekly gain of nearly 10%, while Brent held near $98.87 after briefly trading above $100.

The United States carried out a 13th consecutive night of strikes on Iran as Washington and Tehran rejected immediate negotiations. President Donald Trump also threatened “major military punishment” against Iran and the Houthis after the militant group attacked two Saudi oil tankers in the Red Sea.

Higher energy costs could keep inflation elevated and reduce the Federal Reserve’s room to cut interest rates during the second half of 2026. Rising Treasury yields would also increase the appeal of income-producing assets over Bitcoin, which pays no interest.

Bitcoin price remains above its rising trendline despite weaker momentum

Bitcoin’s 4-hour chart shows an ascending support line connecting a series of higher lows formed since the price bottomed near $58,000 in late June. The trendline now sits between $63,700 and $64,300, placing the current price about 1.5% above the structure.

Momentum has weakened after BTC failed to hold above $66,000. The 4-hour Relative Strength Index fell to 45.65, below its signal average of 51.53, but remained above the oversold threshold of 30.

Meanwhile, the Moving Average Convergence Divergence line dropped below its signal line. The histogram reached negative 131, which shows that sellers have controlled the latest 4-hour candles following the rejection near $66,800.

On the daily chart, Bitcoin remains above its 20-day and 50-day simple moving averages at $64,293 and $63,181. The price must hold those levels to preserve the recovery structure formed since June.

Chaikin Money Flow remained positive at 0.08, showing that buying volume has not fully left the market despite the ETF withdrawals. However, BTC still trades below its 100-day and 200-day moving averages at $69,940 and $72,455, leaving the long-term trend under seller control.

A daily close above $66,800 would open the path toward the 100-day average near $70,000. Bitcoin would then need to reclaim $72,455 to establish a stronger trend reversal.

The one-week CoinGlass liquidation heatmap places the nearest large pool of leveraged positions around $64,200–$64,500. Another dense cluster sits near $63,500, while upside liquidity has accumulated around $65,700 and between $66,500 and $67,300.

Those levels could attract price as traders approach the weekly derivatives settlement. About 19,000 Bitcoin options worth $1.2 billion expire on July 24, with a put-call ratio of 0.89 and maximum pain at $64,500, according to Greeks.live data. Implied volatility has also fallen toward 35%, while gamma exposure is concentrated at $65,000 and $72,000.

Drop under $63,700 would invalidate the local recovery

According to crypto analyst Lennaert Snyder, Bitcoin’s long setup remains active after BTC swept the $65,000 lows. Snyder identified $64,600 as a possible second-entry area and $67,000 as the next liquidity target.

“The invalidation for the local long thesis is the 63.7K low,” Snyder wrote.

A 4-hour close beneath $63,700 would break the rising trendline and expose the liquidation cluster near $63,500. Continued selling could then push BTC toward $62,000, followed by the June support zone between $58,000 and $60,000.

On the upside, $67,000 and $68,100 remain the immediate resistance levels. Snyder views $68,100 as both a profit-taking zone for long positions and a possible short entry, with $60,000 as the bearish target after a liquidity sweep.

Bitcoin’s outlook therefore depends on whether buyers defend the $63,700–$64,500 area after the options expiry. A renewed oil surge, further ETF withdrawals or an escalation in the U.S.-Iran conflict would raise the risk of a trendline breakdown, while a close above $66,800 would return control to buyers.

The Senate treats the crypto bill as a finish line. It is a starting gun. Some provisions fire the moment the president signs, others wait years for two short-staffed agencies to write the actual rules, and the gap between those two speeds is where the market’s expectations will be made and broken.

Every conversation about the CLARITY Act ends at the same place: sixty votes, and then, implicitly, clarity. The bill passes, the classification wars end, the exchanges list, the institutions allocate, the industry exhales. It is the assumption underneath every price target conditioned on passage, every prediction-market contract, every analyst note describing the vote as the catalyst. And it mistakes a starting gun for a finish line. A market-structure law of this size does not operate; it instructs, and the instructions go to two federal agencies that must convert three hundred pages of statute into the registration forms, procedural rules, disclosure templates, and examination manuals that actually constitute a regulatory regime. Some of the bill’s provisions need none of that and fire the moment the president’s signature dries. Others, including nearly everything the industry actually means by the word clarity, exist on paper only until rulemakings finish, and the only empirical evidence available on how fast that happens arrived this month, when every agency responsible for the GENIUS Act’s rules missed the statute’s own one-year deadline. This piece maps the Monday morning after passage: what changes instantly, what waits, how long the wait plausibly runs, and why the gap between the two speeds is where the next two years of crypto-market surprises will come from.

What fires by operation of law

Statutes contain two kinds of provisions: those that instruct agencies to build something, and those that simply declare the law. The second kind needs no rulemaking, no forms, no staff, and CLARITY’s most consequential provisions belong to it.

The ETP grandfather clause is the purest case. The merged draft deems a token non-ancillary, and not a security, if it was the principal asset of an exchange-traded product listed on a national securities exchange on January 1, 2026. That is a self-executing classification: the moment the law takes effect, XRP, Solana, Dogecoin, and the rest of the late-2025 ETF class are non-securities by statute, with no SEC determination to await, no certification to file, no rule to write. Every listing decision, custody arrangement, and institutional compliance memo that currently hedges on those assets’ status can stop hedging that morning. It is the largest single legal event in the bill, and it happens at signature speed.

Section 604 behaves the same way. The shield for non-custodial software developers operates as a definitional exclusion from the Bank Secrecy Act’s money-transmitter category; it does not ask FinCEN to build anything, it declares what the law no longer reaches. The prosecution theory behind the privacy-software cases closes as a matter of statute on day one, which is why law enforcement fought the provision line by line instead of planning to contest it in rulemaking, and why its final text matters more than its implementation.

Preemption arrives the same morning. Where the act assigns exclusive federal jurisdiction over digital commodities, conflicting state regimes stop applying to covered activity, which converts a dozen simmering federalism disputes, the same architecture being litigated in the prediction-market war, into settled questions for the assets and intermediaries inside the framework. State regulators will contest the edges, and the edges will take years, but the default flips instantly.

Notice what these instant provisions share: they end things. They end classification ambiguity for the grandfathered class, end a prosecution theory, end state-law exposure for covered conduct. What they do not do is build anything, and everything the industry wants built sits on the slow track.

What waits for the rulemaking stack

The bill’s affirmative machinery, the parts that create a functioning regulated market, not merely decriminalize the existing one, is a list of instructions to agencies, and each instruction is a rulemaking with a docket, a comment period, a final rule, and a compliance date.

The self-certification process heads the list. The statute creates the certify-and-rebut structure and the 60-day window; it delegates the substance, what a certification must contain, what evidence rebuts one, how common control is measured against the 20% line, whether a challenged certification keeps operating. Until those procedural rules exist, no network can actually certify maturity, which means the bill’s celebrated exit door from securities treatment opens only when the SEC and CFTC finish building its hinges. That is the machinery that waits on rules. The registration regimes are next: digital commodity exchanges, brokers, dealers, and custodians are new federal categories that exist only as defined terms until the CFTC writes their registration forms, capital requirements, custody standards, and examination programs. The House framework’s answer to the gap, provisional registration that lets incumbents operate while final rules gestate, mitigates the freeze without ending it, since provisional status still requires the agency to stand up an intake process, and the terms of provisional operation are themselves a rulemaking. The ancillary-asset disclosure regime, the kiosk standards, the bank-custody provisions, the illicit-finance examination standards: each is an instruction, not a fact, and the statute’s own deadlines for them cluster between 180 days and two years, deadlines whose enforceability the next section prices.

This is the honest answer to what changes for markets on Monday morning: less than the vote’s price action will imply. Exchanges cannot register with a regime that has no forms. Issuers cannot certify through a process with no procedures. The tokens freed by the grandfather clause can trade with settled status, which is genuinely enormous, but the new products, venues, and capital-raising the bill enables arrive on the agencies’ calendar, not the Senate’s, and the agencies’ calendar is the subject of the only experiment ever run on it.

The GENIUS base rate

The GENIUS Act is the control group for every optimistic implementation forecast, because it is the same political system implementing a smaller crypto statute with more consensus behind it, and its first year produced a precise, discouraging number: zero final rules by the statutory deadline.

The stablecoin law passed in July 2025 with a one-year mandate for its implementing regulations. The deadline arrived this month; Treasury, the Federal Reserve, the OCC, and the FDIC collectively missed it, with proposed rules still circulating and the industry operating under interim guidance, no-action postures, and educated guesses. That is the base rate for every rulemaking forecast. The reasons are not scandalous, they are structural: interagency coordination, comment volumes in the tens of thousands, novel definitional questions, staffing, and the simple fact that statutory deadlines on agencies carry no enforcement mechanism beyond judicial prodding that itself takes years. Every one of those structural facts applies to CLARITY with the coefficients enlarged. The rule count is bigger, the interagency surface is bigger, two commissions rather than one lead the work, and the definitional questions, maturity, control, decentralization, are harder than anything in the stablecoin docket.

Then add the capacity problem this publication has documented all year. The CFTC, designated inheritor of the digital commodity market, is operating with one confirmed commissioner, a vacancy configuration the Senate’s own negotiators flagged as a precondition dispute, and the bill would hand that agency the largest jurisdictional expansion in its history. That is  the capacity problem in full. The SEC is mid-transformation under its own crypto agenda, running Regulation Crypto as interim policy. And both commissions now sit, post-removal-jurisprudence, at presidential pleasure, meaning the personnel writing the rules, and therefore the rules, can turn over with an election in the middle of the implementation window. A reasonable central estimate, calibrated to GENIUS, to Dodd-Frank’s multi-year dockets, and to the agencies’ visible bandwidth: core registration and certification rules proposed within a year of passage, finalized in eighteen months to three years, with litigation over the first contested certifications and registrations extending the true settling-in past the current administration. Clarity, as an operating condition rather than a statute, is a 2028 story.

Bitfinex has secured a Digital Asset Service Provider licence in El Salvador, completing a local regulatory structure covering spot trading, crypto derivatives and tokenized securities. 

The exchange announced the approval on May 12, after the National Commission of Digital Assets registered two Bitfinex-linked operating entities on April 23.

The new approval brings the core Bitfinex trading platform alongside Bitfinex Securities El Salvador and Bitfinex Derivatives El Salvador. Bitfinex said the structure gives the group a regulated presence across its main businesses in the country, although product access will still depend on customer eligibility, location and the platform’s terms.

Core Bitfinex platform joins regulated local entities

El Salvador’s CNAD public registry lists BFXNA El Salvador under registration PSAD-0082 and BFXWW El Salvador under PSAD-0083. Both registrations cover activities that include exchanging digital assets, operating trading platforms, transferring assets, custody, receiving client orders and executing trades in digital asset derivatives.

The registry entries were active before the company’s May public announcement, confirming the approval through CNAD’s database. Bitfinex described the licence as a deeper regulatory base for serving customers across Latin America.

“Holding licences across our spot, derivatives and securities businesses reflects our long-standing commitment to the country and to operating under proper and innovative supervision.” said Bitfinex’s chief technology officer Paolo Ardoino

The licence does not mean every Bitfinex product is available to every customer. The company’s notice states that U.S. persons and other prohibited users cannot open or operate accounts on its main platform. Local rules, onboarding checks and service restrictions also continue to apply.

Securities and derivatives approvals came earlier

Bitfinex Securities became the first platform approved under El Salvador’s Digital Assets Issuance Law. CNAD’s registry lists the securities entity under PSAD-0001, with a registration date of Oct. 24, 2023. The platform supports the issuance and trading of tokenized financial products, including debt, equity and fund-linked instruments.

As previously reported, Bitfinex Securities later launched a regulated tokenized U.S. Treasury product in El Salvador. The offering represented exposure to short-term Treasury bills and traded through the platform’s secondary market. Bitfinex also tested tokenized debt linked to a planned hotel project near the country’s international airport.

Bitfinex Derivatives followed with its own Digital Asset Service Provider approval in January 2025. The licensed entity became the regional base for the group’s derivatives activity. Crypto.news reported at the time that users continuing with the service had to accept revised terms tied to the Salvadoran operation.

El Salvador builds a wider digital asset market

El Salvador adopted its Digital Assets Issuance Law in 2023, creating a framework for token issuance, service providers and regulated trading venues. CNAD oversees the sector and maintains a public registry of approved operators, including exchanges, custodians, issuers and companies offering investment products based on digital assets.

Bitfinex said CNAD had licensed more than 70 digital asset service providers by the time of its May announcement. The registry also includes Binance, Bitget and other international firms. Those approvals cover separate entities and permitted activities, rather than one uniform licence for every crypto service.

The country has also expanded its rules beyond exchanges. El Salvador approved an investment banking framework allowing specialized institutions to offer Bitcoin and other digital asset services. The country has also explored tokenized small-business equity and cross-border regulatory projects.

Bitfinex links licence strategy to tokenized markets

Bitfinex has positioned El Salvador as a base for both trading and tokenized capital markets. Its securities business has worked on products linked to U.S. Treasuries, corporate financing and real-world assets. The group has also partnered with Tether-related infrastructure to study wider distribution and secondary-market liquidity for tokenized investments.

The latest licence gives the core exchange a local authorization alongside those existing businesses. It also allows Bitfinex to present one jurisdiction as covering three distinct lines: spot markets through the main platform, derivatives through its dedicated entity and securities through Bitfinex Securities.

However, the announcement did not provide local customer numbers, trading-volume targets or a timetable for new products. It also did not state whether operations will move from other jurisdictions to El Salvador. The immediate change concerns the regulated status of the core platform and its ability to offer approved services through registered local entities.

Bitfinex’s expansion comes as other crypto companies build operations in El Salvador. Tether announced plans in 2025 to establish its headquarters in the country after securing local approval, while Bitget obtained both Bitcoin and digital asset service licences.

The licence completes Bitfinex’s stated regulatory footprint in El Salvador, but continued operation will depend on CNAD supervision, customer checks and the rules attached to each entity. Future product launches will require separate disclosures and may carry additional eligibility limits.

Thailand’s Securities and Exchange Commission has filed a criminal complaint against crypto exchange Bitkub Online and two of its former directors, alleging they submitted false regulatory reports after a 2021 cyberattack that resulted in the loss of digital assets worth about 1.7 billion baht ($50 million).

According to an announcement published by Thailand’s Securities and Exchange Commission (SEC) on Thursday, the complaint targets Bitkub Online, former directors Sakolkorn Sakavee and Thaweesap Rawan over information submitted in the exchange’s daily net liquid capital reports following the May 2021 hack.

The regulator alleged that the reports filed between May 10 and Oct. 30, 2021, did not accurately show the reduction in the exchange’s digital asset holdings after attackers stole 16 different cryptocurrencies. The SEC said the omission created the impression that customer assets remained intact and that the exchange had not suffered losses from the incident.

Authorities said the stolen assets were replaced by Oct. 31, 2021, but argued that the impact of the theft should have been reflected in the reports submitted during the period. The complaint accuses Bitkub and the two former directors of violating multiple provisions of Thailand’s digital asset regulations through the alleged false disclosures.

The SEC said the matter will now move through the country’s criminal investigation process before any decision on prosecution or court proceedings is made.

Bitkub disputes regulator’s allegations

Responding in a post on X, Bitkub said the case concerns decisions about when to disclose the wallet compromise rather than allegations of fraud or customer losses.

The exchange said it intentionally delayed announcing the incident because it wanted to prevent a potential bank run while it worked to recover from the theft. According to the company, its co-founders later purchased an equivalent amount of digital assets to replace the stolen funds, leaving customers and the company without financial losses.

Bitkub also said it has strengthened its governance framework, compliance procedures and security controls since the incident.

Founded in 2018, Bitkub has grown into Thailand’s largest cryptocurrency exchange. CoinGecko ranked the platform first among Thai exchanges by trust score, while its daily trading volume stood at about $712 million at the time of publication.

The complaint also comes as Bitkub continues to explore a public listing. The company confirmed in December 2025 that it was considering an initial public offering, including the possibility of listing in Hong Kong.

Cointelegraph said it contacted Bitkub for additional comment on the SEC complaint and the company’s IPO plans but had not received a response by the time the report was published.

Enforcement comes as Thailand expands crypto regulation

The enforcement action arrives as Thai authorities continue tightening oversight across different parts of the digital asset market.

Earlier this month, local outlet Thansettakij reported that the Bank of Thailand (BOT) and the SEC had begun examining high-value stablecoin transactions after identifying transfers that may have bypassed normal financial reporting requirements. According to the report, BOT Governor Vitai Ratanakorn said authorities were using data analytics tools to review large transactions, particularly involving Tether’s USDT, while assessing whether further regulatory action is required.

Beyond stablecoins, the report said regulators have also increased scrutiny of large cash deposits and withdrawals, gold trading and bank accounts linked to online gambling as part of anti-money laundering efforts.

At the same time, Thailand has continued moving ahead with policies designed to expand its regulated crypto market.

In February, the Thai government approved amendments recognizing cryptocurrencies as eligible underlying assets under the country’s Derivatives Trading Act, allowing regulated futures and options contracts to reference digital assets such as Bitcoin. Following the approval, the SEC was tasked with drafting detailed licensing rules and contract requirements for market participants.

The regulator later proposed easing licensing requirements for digital asset businesses by allowing firms to apply for derivatives licenses under a single corporate entity instead of establishing separate companies. 

During the consultation process, SEC Secretary-General Pornanong Budsaratragoon said the proposal would support crypto as an investment asset class while giving investors access to additional regulated products under appropriate supervisory safeguards.

As XRP regains investor attention, cloud mining platforms like LONG DeFi are highlighting simplified access to digital asset participation and computing power.

As the World Cup concludes, the cryptocurrency market continues its recovery, with XRP once again becoming a focus of global investor attention. 

With continued institutional investment and the ongoing development of the digital asset market, more and more investors are seeking more efficient and diversified asset allocation methods, hoping to capitalize on the long-term growth opportunities presented by mainstream digital assets such as BTC and XRP.

Under this trend, cloud mining computing power is gradually becoming a crucial infrastructure in the digital asset field. Compared to traditional models, it eliminates the need for equipment purchases and professional maintenance, allowing users to easily participate in the digital asset ecosystem and more conveniently plan for the future.

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The U.S. House of Representatives has passed a bill aimed at tightening trading rules for lawmakers by restricting their ability to buy publicly traded stocks. The legislation, dubbed the Stop Insider Trading Act, passed the chamber on a 232-198 vote on Wednesday and now moves to the Senate for consideration.

The sponsor, Republican Representative Bryan Steil of Wisconsin, argues the measure would reduce incentives to profit from nonpublic information. Speaking on the House floor after the vote, Steil said the bill would “ensure no lawmaker can profit off of insider information” and would introduce “strict penalties” for violations.

Key takeaways

• The House approved the Stop Insider Trading Act by a 232-198 vote, sending it to the Senate after Wednesday’s passage.
• Under the bill, members of Congress, along with their spouses and dependent children, would be prohibited from purchasing publicly traded stocks.
• Steil outlined penalties including fines equal to $2,000 or 10% of the transaction value, plus disgorgement of profits.
• Critics— including Senator Elizabeth Warren—argue the bill is insufficient because lawmakers could still keep and sell stocks they already own.
• The vote comes as Senate discussions continue over a separate crypto-focused bill, the Digital Asset Market Clarity Act, which addresses broader restrictions on public officials.

What the Stop Insider Trading Act would change

According to the bill’s sponsor, the Stop Insider Trading Act targets the core conflict that arises when public officials participate in markets while possessing information that is not available to the general public. In Steil’s remarks, he emphasized that the legislation is designed to block new stock purchases by lawmakers and their immediate family members.

Steil also described the enforcement approach for alleged violations. As he stated on the House floor, the bill includes a fine equal to $2,000 or 10% of the transaction, along with disgorgement of profits. He further indicated that violators could forfeit any gain realized if they fail to comply.

One operational feature highlighted by Steil is a notice requirement tied to pre-existing holdings. While the bill would prohibit stock purchases, Steil said members of Congress would have to give seven days’ notice before selling stocks they already own, a rule he presented as a deterrent against insider trading.

Where Democrats say the bill falls short

Even with the House’s approval, some Democrats argue the legislation does not fully solve the problem of conflicts of interest. The main critique is that the measure would not require lawmakers to divest current holdings, potentially leaving room for market-sensitive actions based on nonpublic developments.

Senator Elizabeth Warren said on Thursday that the bill contains “major loopholes.” In her view, because lawmakers could continue owning and selling stocks already held, it “won’t solve the problem,” and she said the approach is unlikely to gain traction in the Senate. Warren’s position, as summarized in her comments, is that members of Congress should not own, buy, or sell stocks at all.

How it compares with broader Senate ethics proposals

The Stop Insider Trading Act is narrower than other policy efforts currently discussed in Congress. Unlike the proposed text for the Digital Asset Market Clarity Act—a Senate consideration focusing on cryptocurrency market structure—Steil’s bill is limited to investment restrictions for members of Congress. It does not extend the same coverage to the president or vice president and their families.

In earlier coverage of the Digital Asset Market Clarity Act, the discussion has included restrictions on public officials’ token activity. As described in connection with that measure, it would bar U.S. public officials from issuing or sponsoring tokens until 2029.

For crypto investors and builders, the difference matters because it reflects how lawmakers are calibrating ethics and restrictions across sectors. While the insider trading bill targets traditional markets and elected officials’ stock activity, the parallel crypto legislation is framed around market structure and digital-asset involvement by officials. Observers will be watching whether ethics-style restrictions expand beyond stocks—or remain compartmentalized by policy area—as the Senate considers each track.

From Congress trading to prediction markets

The House vote on the Stop Insider Trading Act followed Steil’s sponsorship of related legislation aimed at trading behavior on prediction market platforms. As noted in earlier developments, Steil previously backed the Stop Lawmakers from Predicting Act, introduced in June to prevent certain public officials, their spouses, and children from “wagering on public policy issues and political outcomes.”

Prediction markets have drawn renewed attention after high-profile reports of individuals allegedly placing large bets tied to real-world political events. Cointelegraph previously covered an incident involving a soldier accused of placing more than $400,000 in bets on Kalshi and Polymarket outcomes related to Venezuela President Nicolás Maduro, who was removed by U.S. forces in January. Earlier reporting also described claims that Donald Trump’s teleprompter operator made more than $100,000 in bets on Kalshi event contracts connected to phrases used in the president’s speeches.

Steil’s prediction-market legislation proposed a penalty structure similar to the stock trading proposal: violators would pay a $2,000 fee or 10% of the value of prohibited bets placed on the platforms. The similarity suggests a consistent legislative framework in Steil’s approach—using fines and disgorgement mechanics to reduce incentives for wagering or trading based on privileged information.

What happens next in the Senate

With the Stop Insider Trading Act now in the Senate, the immediate question is whether lawmakers will narrow the enforcement focus or widen the restrictions to address the objections raised by critics. For readers following the intersection of governance and markets—whether traditional equities or crypto-related policy—attention should shift to whether the Senate modifies the House bill to limit not only new purchases, but also ownership and sales of existing holdings.

The European Union has placed Justin Sun-linked HTX among 18 crypto companies accused of helping Russian users evade financial sanctions.

According to Reuters, the EU published the list on Friday after adopting its latest restrictions on Thursday, adding another regulatory challenge for one of the world’s largest crypto exchanges.

HTX, formerly known as Huobi, did not immediately respond to Reuters’ request for comment on the EU action. The exchange was founded in China in 2013, while Sun acquired a controlling stake in 2022, although the company describes the Tron founder as an adviser.

EU authorities included the crypto companies in the bloc’s 21st sanctions package against Russia over the war in Ukraine. The measures cover banks, crypto networks, oil traders, energy revenue channels and vessels suspected of operating within Russia’s shadow fleet.

While Reuters reported that 18 companies offering crypto services appeared on the published list, the Council of the European Union separately said it had extended transaction restrictions to 14 crypto-related platforms. Those services operate from Georgia, Panama, the United Arab Emirates, the Marshall Islands, Kyrgyzstan and Belarus.

The difference relates to how the measures count companies and the platforms they operate. According to the Council, the 14 services were targeted because EU authorities linked them to financial channels used by Russia to bypass existing restrictions.

HTX faces transaction limits rather than an EU asset freeze

Unlike a full sanctions designation, the EU measure against HTX does not require the exchange’s assets to be frozen, Reuters reported. The restriction instead places HTX within the group of crypto businesses covered by the package’s transaction controls.

For the first time, the package also gives the EU a mechanism to prohibit dealings with crypto providers in third countries when authorities determine that those services are helping Russia evade sanctions. The Council described the tool as a deterrent for jurisdictions hosting such platforms.

HTX had already faced sanctions in the United Kingdom. On May 26, British authorities targeted Huobi Global S.A., the Panama-based company behind HTX, over alleged financial services involving A7 and Garantex, two entities previously sanctioned over their links to Russia.

The UK Foreign Office alleged that HTX provided services to A7, a payments network backed by Russian state-controlled Promsvyazbank, and Moscow-based crypto exchange Garantex. British restrictions included an asset freeze and barred UK companies from processing payments or maintaining financial relationships with the designated entities.

Responding to the UK action, an HTX spokesperson rejected suggestions that the exchange disregarded regulatory requirements.

“Regulatory compliance remains our absolute top priority at HTX. We proactively monitor and strictly adhere to regulatory frameworks in all jurisdictions where we operate globally, including the UK,” the spokesperson told Reuters.

The exchange has not issued a corresponding response to the EU restrictions. Its earlier statement addressed only the British allegations and did not comment on the findings behind the EU package.

Beyond crypto, the Council imposed asset freezes and funding restrictions on 94 banks and major financial institutions. Transaction bans were also extended to another 33 Russian credit and financial institutions, one Kyrgyz bank connected to Russia’s System for Transfer of Financial Messages and three other non-Russian banks accused of helping circumvent sanctions.

EU crypto controls now reach ownership and management

Adopted on July 23, the package contains 218 individual listings, including 48 people and 170 entities. The Council called it the bloc’s largest batch of new listings in four years, spanning financial services, energy companies, military suppliers and organizations accused of supporting sanctions evasion.

EU High Representative Kaja Kallas stated that the measures cover more than 100 banks and crypto operators, over 40 vessels tied to Russia’s shadow fleet and several refineries in Russia and Belarus. More than 50 listings involve Russia’s military-industrial sector, including businesses connected to long-range drone production, according to Kallas.

Separate restrictions adopted through Council Decision (CFSP) 2026/1847 will also affect Belarusian participation in the EU crypto industry. Beginning Aug. 25, Belarusian nationals and residents will be prohibited from owning, controlling or managing crypto-asset service providers regulated under the Markets in Crypto-Assets framework.

Previous restrictions focused on companies offering crypto wallets, accounts and custody services. The amended rules expand the ban to every service category defined under MiCA, including operating trading platforms, exchanging crypto assets, executing client orders, processing transfers, placing tokens, providing investment advice and managing portfolios.

The Belarus measure entered into force on July 24, one day after its adoption, although the crypto ownership and management provisions have a one-month implementation period. It follows the end of MiCA’s transition window on July 1, after which unauthorized crypto firms were required to stop operating or face enforcement measures.

Together, the two decisions place foreign crypto platforms and ownership roles inside regulated EU firms under separate sanctions controls. HTX now faces transaction restrictions connected to alleged Russian activity, while Belarusian nationals and residents will encounter direct limits on their participation in MiCA-authorized businesses.

Odos Protocol has announced plans to shut down its decentralized exchange aggregator, giving users until July 30 to withdraw assets from the platform.

According to a Thursday announcement posted on X, the project will discontinue operations and has asked users to remove funds before the deadline. The team did not disclose why it decided to wind down the service.

Users have until July 30 to complete withdrawals before the platform ceases operations. The announcement did not indicate whether any extension would be offered or whether services would remain available after the deadline.

At the same time, the team clarified that the Odos DAO operates independently from the company behind the protocol. It said the DAO will communicate its own plans separately, while adding that the ODOS token will continue to exist onchain despite the shutdown of the operating business.

No changes to the token’s functionality, supply, or governance were announced alongside the closure notice. The statement also did not mention any security incident, regulatory issue, funding challenge, or acquisition connected to the decision.

Trading activity had fallen sharply since late 2024

The shutdown follows a prolonged decline in activity on the protocol over the past two years.

Data from DefiLlama shows Odos recorded approximately $169 million in DEX aggregator trading volume during July 2026. That compares with a monthly peak of roughly $7.8 billion reached in December 2024, when decentralized trading activity across multiple networks was considerably higher.

DefiLlama data also estimates the protocol generates about $2.72 million in annualized revenue. While the figures illustrate how activity has changed over time, the Odos team did not attribute the shutdown to declining trading volume or revenue.

Instead, the project’s public announcement remained limited to operational details, user withdrawal instructions, and clarification regarding the separation between the operating company and the Odos DAO.

Existing users have therefore been encouraged to focus on withdrawing assets before the July 30 deadline. The announcement did not mention any modifications to the withdrawal process or identify assets that would be affected differently during the wind-down.

DAO and token remain separate from the operating company

Although the protocol’s operating business is shutting down, the announcement distinguished it from the decentralized governance structure.

According to the team, the Odos DAO will announce its own next steps independently. No timetable was provided for those announcements, and the DAO has not yet disclosed whether governance activities, treasury management, or future ecosystem initiatives will change after the operating company closes.

Similarly, the ODOS token was not included in the shutdown plans beyond confirmation that it will continue to exist onchain. The announcement did not describe any migration, token swap, redemption program, or governance proposal associated with the closure.

For token holders, that means the shutdown currently applies to the operating company rather than automatically affecting the token itself.

More crypto platforms have announced closures in 2026

Odos joins a growing list of crypto companies and decentralized finance projects that have announced plans to wind down operations this year, although the reasons behind those decisions have varied considerably.

Earlier on Thursday, derivatives exchange BitMEX said it would cease operations after 11 years in business. The exchange outlined a phased shutdown process, with customer services being retired according to a scheduled timeline.

Security incidents have also forced several projects to discontinue operations. For instance, in June, crypto payments platform Pyra announced it would shut down after concluding it could not establish a sustainable path forward following losses tied to the Drift exploit. 

The company immediately stopped accepting new customers, canceled all payment cards, and introduced a transition plan that allows existing users to withdraw balances and export private keys through a dedicated web portal until Sept. 15, 2026. Pyra also said it intends to distribute any future Drift recovery tokens to eligible users if those tokens become available.

Meanwhile, in May, Carrot protocol said it would discontinue operations after liquidity providers withdrew significant capital following the Drift exploit. The protocol explained that the resulting collapse in total value locked left it unable to continue operating despite efforts to recover. Users were provided time to withdraw remaining assets before services were fully retired.

Odos has not linked its own decision to either category. The project’s announcement did not identify declining activity, market conditions, funding constraints, security breaches, or technical problems as reasons for discontinuing operations. 

For now, the only date provided by the project is July 30, when users are expected to complete withdrawals before the operating platform shuts down. The team has said the DAO will provide separate updates regarding its future plans.