Illinois has enacted a $55.9 billion budget featuring a first-of-its-kind 0.2% tax on crypto assets, set to take effect in January 2027. The Digital Asset Tax Act will levy a privilege tax on digital asset brokers for customer transactions, drawing sharp criticism from industry leaders concerned about discriminatory practices and potential capital flight.
Illinois Governor Pritzker signed a new digital asset tax bill into law, imposing a 0.2% tax on crypto transactions starting January 1, 2027. The Crypto Council for Innovation criticized it as the "most punitive" in the nation, warning of severe consequences and potential exodus of innovation from the state. Lawmakers estimate the tax could generate $60 million next year.
Coinbase is now allowing US users to transfer existing stock and ETF portfolios onto its platform, aiming to become a full-service financial platform and compete with traditional brokerages. The move includes zero-commission trading and builds on earlier stock trading services.
Michael Saylor, executive chairman of Strategy, stated that Bitcoin (BTC) does not require staking or yield mechanisms, arguing that returns should be generated through financial products built around BTC. He outlined a "Digital Asset Stack" with Bitcoin as the base for credit, money, yield, and equity structures, emphasizing its role as "pure digital capital."
The CFTC appointed Donald Battle, an expert in blockchain forensics and AI, as its new Chief Data Innovation Officer. This move signals a stronger regulatory focus on crypto and digital assets, coinciding with congressional efforts to reform digital asset market structure.
Strategy (formerly MicroStrategy) added $100M in Bitcoin, increasing its holdings to 846,842 BTC. This move reignited debate over whether the company is creating or destroying value for common shareholders, as Bitcoin per share metrics declined despite increased holdings.
The CFTC appointed Donald Battle, an expert in blockchain forensics and AI, as its new Chief Data Innovation Officer. This move signals a stronger regulatory focus on crypto and digital assets, coinciding with congressional efforts to reform digital asset market structures.
The Bangko Sentral ng Pilipinas (BSP) has introduced new rules for Virtual Asset Service Providers (VASPs), mandating rigorous due diligence for crypto listings and banning anonymity-enhancing coins. These measures aim to enhance financial stability and customer protection.
Bitcoin surged past $65,000, recovering from recent selling pressure. A US-Iran peace deal, mediated by Pakistan and set for signing June 19, eased geopolitical tensions, leading to falling oil prices and rising crypto markets. ETF outflows also slowed, indicating reduced forced selling.
The SEC's draft 5-year plan (2026-2030) signals a policy shift towards blockchain and digital assets, focusing on regulatory architecture and market modernization rather than enforcement. This change aims to build institutional confidence and facilitate compliant capital formation within a stable legal framework.
Major banks are investing in cryptocurrency custody just as a report highlights a quantum computing threat to current security architectures. The Taurus report suggests existing multi-party computation (MPC) and hardware security module (HSM) systems may be vulnerable, potentially impacting Bitcoin and Ethereum. Migrating to quantum-resistant signatures faces significant blockchain protocol challenges.
SpaceX's record-breaking IPO on Nasdaq excluded Chinese and Hong Kong investors. However, Chinese investors are reportedly using digital assets and offshore crypto platforms to gain synthetic exposure to popular US tech stocks like SpaceX, bypassing capital controls and regulatory bans.
Bitcoin's largest institutional buyers, including ETFs and corporate treasuries, are showing signs of strain with significant outflows and reduced trading volumes. This shift raises questions about the cryptocurrency's role in institutional portfolios and its ability to sustain price levels above $60,000.
BlackRock filed an updated prospectus for its iShares Bitcoin Premium Income ETF (BITA), set to launch soon. This move intensifies competition with Goldman Sachs, as both firms aim to attract yield-seeking investors with novel Bitcoin ETF strategies.
Digital Asset, the firm behind the Canton Network, has raised $355 million from investors including Abu Dhabi Investment Authority, Andreessen Horowitz, Citadel Securities, and CME Ventures. The funding will support the network's growth in facilitating real-world asset transactions.
Digital Asset Holdings secured $355 million in a new funding round led by Andreessen Horowitz's crypto arm, valuing the company at $2 billion. The capital will scale the Canton Network, designed for financial institutions to tokenize and settle securities privately.
Archax has launched a new system on Hedera that allows tokenized securities to distribute interest payments in USDC in real time. This innovation ensures yield follows ownership continuously, addressing market inefficiencies and building on Archax's previous work with tokenized assets.
Stand With Crypto UK is launching a campaign urging its 286,000 members to challenge British banks restricting transfers to cryptocurrency exchanges. The group cites a report finding 40% of crypto transactions are blocked, impacting regulated platforms and potentially hindering competition.
Trump family crypto ventures generated approx. $2.3B pretax income between Nov 2024-Apr 2026, outpacing major firms like Coinbase and BlackRock's Bitcoin ETF. This was achieved via token sales and equity stakes, with retail investors absorbing significant losses.
Standard Chartered maintains its year-end Bitcoin price target of $100,000 despite a recent crash below $60,000, citing potential buying opportunities and strategic purchases, though market sentiment and analyst predictions vary widely.
Zcash (ZEC) rebounds after founder Zooko Wilcox proposes 'Ironwood' upgrade to address concerns over a patched bug that could have created counterfeit tokens, aiming to verify circulating supply and strengthen security.
The US House Ways and Means Committee has released seven draft bills to clarify and simplify digital asset taxation, including reduced paperwork for crypto holders, clarity on mining/staking, and a potential 'de minimis' exception for small transactions, ahead of a Tuesday hearing.
Shinhan Financial Group has signed MOUs with the Canton Network foundation to participate in the governance of the public blockchain designed for financial institutions. This collaboration aims to build infrastructure for digital asset trading and explore global market opportunities.
US Treasury Secretary Scott Bessent confirmed the department is actively working to establish a strategic Bitcoin reserve and digital asset stockpile, fulfilling a 2025 executive order from President Trump. The US currently holds over 328,000 BTC.
