raf

Ethereum developer Tom Lehman has released a draft proposal for EIP-8182, which aims to make private transactions a native feature of Ethereum by introducing shared privacy pools, a fixed address system contract, and zero-knowledge proof verification precompiles at the Ethereum protocol layer.The proposal states that the solution will be implemented through a hard fork upgrade, without an administrator key, governance tokens, or on-chain upgrade mechanisms, with the goal of addressing the issues of decentralization and inconsistent trust models in privacy applications. As designed, users can make private transactions to any Ethereum address or ENS name using existing wallets, and it supports atomic "de-sensitization - interaction - re-privatization" processes.

According to Caixin, the one-month public consultation for the "Financial Law of the People's Republic of China (Draft)" ended today (April 19). This is the first overarching law in China and the world with "finance" in its name. The expansion of "quasi-judicial powers" for financial regulation is a topic of great concern in the market.According to Article 55 and related provisions, financial regulatory authorities have the right to access and copy property rights information, communication records, and transaction records of relevant entities and individuals when investigating financial violations. They can directly freeze or seal assets if there is evidence suggesting the transfer or concealment of illegal funds and securities. They can even decide that individuals suspected of violations cannot leave the country during the investigation.In addition, Zeng Gang, chief expert and director of the Shanghai Financial and Development Laboratory, believes that the "Financial Law" should also strengthen its focus and coverage on emerging financial formats. Topics such as AI-driven financial decision-making, the legal status of digital currencies, and the regulatory boundaries of crypto assets have sparked widespread controversy globally, but the draft addresses them very little. How to maintain a dynamic balance between lawful regulation and inclusive innovation is a problem left to be solved by legislation.

The UK's Financial Conduct Authority (FCA) has released the final draft of the crypto asset framework. This new regulation is set to bring most crypto activities under the regulation of the Financial Services and Markets Act by October 25, 2027.According to the proposal, any institution that holds customer crypto assets for more than 24 hours or has the ability to revoke customer permissions will be considered a regulated custodian and must hold a full safeguarding license. Validators and node operators that provide value-added features such as yield or reward reinvestment will lose their technical exemptions. In addition, stablecoin issuers within the UK must control the entire lifecycle from issuance to redemption. Relevant institutions must submit authorization applications between September 30, 2026, and February 28, 2027.

According to Decrypt, U.S. Senator Thom Tillis stated that the Senate is expected to release a revised draft text on stablecoin yield distribution this week.Currently, there is a disagreement between banks and crypto companies on whether cryptocurrency exchanges should be allowed to pay yields to stablecoin holders through reward programs, and this controversy has stalled the legislative process of the Clarity Act. The White House Council of Economic Advisers recently released a report stating that banning stablecoin yields would have a minimal impact on small banks, only increasing bank lending by 0.02%. However, the American Bankers Association believes this analysis underestimates the risks. Observers point out that if the draft provisions are too strict, it may lead users and liquidity to flow to other jurisdictions that allow yields.

The People's Daily of China published an article titled "Disrupting the Capital Market, These Chaos of Financial Self-Media Accounts Need to Be Vigilant," which specifically names certain accounts that attract traffic for virtual currency trading by posting false profit information such as "hundred times coin" and "making millions a month from trading coins."The article again cites a previous notice from the central bank and eight other departments, emphasizing that activities related to virtual currencies are considered illegal financial activities. It points out that accounts and platforms providing traffic and technical services for illegal virtual currency trading are suspected of violating laws and regulations, which may threaten financial security and anti-money laundering efforts.

According to BBX data, yesterday, with the start of the first complete trading week of the second quarter, global listed companies disclosed several key data points regarding "cross-border positioning":$15 million initial position: DraftKings (NASDAQ: $DKNG) disclosed that it has completed a strategic allocation of $15 million in Bitcoin. As a North American sports betting giant, the company plans to use this reserve as the underlying clearing fund pool for its upcoming "Web3 event prediction market."100% hash rate retention: Greenidge Generation (NASDAQ: $GREE) released operational guidance for March and early second quarter yesterday, announcing that its mining facility in New York State has officially entered the 100% output retention phase and has further reduced the acquisition cost of each BTC by utilizing low off-peak electricity prices.$5 million IP anchoring: Lionsgate (NYSE: $LGF.A) confirmed yesterday that it has allocated $5 million to purchase Bitcoin. This marks the first time a leading Hollywood studio has included digital hard assets on its balance sheet, aiming to provide real asset backing for the on-chain tokenization (RWA) of its future film IP.Treasury hedge infrastructure: Cboe Global Markets (BATS: $CBOE) announced yesterday the launch of two brand new "enterprise-level Bitcoin volatility index options," specifically designed for listed companies with more than 500 BTC on their balance sheets, helping them smooth out the fluctuations in book value during quarterly reporting periods.

According to Jinshi, citing the Islamic Republic News Agency (IRNA), Iranian Deputy Foreign Minister Gharibabadi stated that Iran is drafting a passage agreement for the Strait of Hormuz with Oman.

Crypto journalist Eleanor Terrett revealed that the office of U.S. Senator Thom Tillis plans to publicly release legislative text related to stablecoin yields and reward mechanisms next week, and is currently in ongoing communication with various industry stakeholders.According to reports, this move comes in response to dissatisfaction expressed by participants in the crypto industry, such as Coinbase, regarding the relevant terms presented earlier this week. Coinbase's Global Head of Investment Research, David Duong, stated that the industry is preparing a coordinated counter-proposal aimed at pushing for adjustments to the terms to protect users while maintaining a sustainable reward mechanism.

U.S. Congressman Steven Horsford and Max Miller announced the discussion draft of the "Digital Asset PARITY Act," which aims to promote the development of digital assets and enhance compliance by establishing a unified tax framework.The draft proposes a small tax exemption for regulated dollar stablecoin transactions under $200 to reduce the tax burden in everyday payments; it also allows miners and stakers to defer tax on rewards for up to 5 years. Additionally, the draft plans to extend the rules for false sales and presumed sales to digital assets and introduce tax treatments based on market value, while clarifying the tax rules for digital asset lending and charitable donations. The bill is still in the discussion stage and has not yet been formally submitted to Congress.

Web3 asset data platform RootData today released the third edition of the "Cryptocurrency Exchange Transparency Rankings (Stock Category)." This edition has undergone significant upgrades in its algorithm, incorporating market makers and traffic weight into the trading volume activity scoring system for the first time. Through a tiered coefficient calculation, it further eliminates discrepancies, enhancing the authenticity and reference value of the rankings.The biggest change in this edition is the official entry of OKX. Since supporting stock trading on February 25, OKX has performed strongly in this data backtest, ranking second on the list, thanks to its compliance licenses from multiple regions, including Singapore's MAS and the U.S. FinCEN.In a market environment where overall user activity is shrinking, Gate has become one of the few exchanges to achieve counter-trend growth in traffic this week. Its visits increased from 3.4M to 4.1M, coupled with a stable reserve of over 110 stock assets, further consolidating its leading position in the niche market.Additionally, while OrangeX maintained its sixth position, its traffic plummeted by over 60% (from 2.4M to 1M), facing severe pressure from existing user loss; XT.com, on the other hand, has seen its score decline for three consecutive weeks due to a lack of compliance licenses, with a trend of increasing marginalization becoming more evident.RootData adheres to the principle of "transparency first," providing investors with more effective data references through a dual evaluation system of "transparency + liquidity." In the future, RootData will continue to optimize data interfaces, assisting more platforms in addressing information disclosure shortcomings, and providing investors with more credible reference dimensions.

According to the Iranian SNN news agency, Iranian Navy Commander Irani stated that the U.S. aircraft carrier strike group "Lincoln" is under continuous surveillance by Iran, and once it enters the range of the missile system, it will become a target for attack.

Jump Trading responded on Monday to the lawsuit filed by Todd Snyder, the bankruptcy trustee for Terraform Labs. Snyder sued Jump Trading and several of its subsidiaries and two executives last December, accusing them of market manipulation, defrauding investors, and self-dealing, seeking $4 billion in damages.In its response, Jump Trading stated that the lawsuit is Snyder's "transparent attempt" to evade the $4.4 billion fine imposed on Terraform Labs by the U.S. Securities and Exchange Commission (SEC) in 2024, and claimed that Snyder "fabricated a series of allegations aimed at shifting Terraform's responsibility to the SEC and its creditors onto the defendants." Jump Trading also pointed out that the lawsuit lacks key details, fails to specify the actions of each defendant, does not indicate where the alleged violations occurred, and is beyond the statute of limitations, warranting dismissal.According to previous court records, when UST depegged from the dollar in 2021, Jump Trading assisted Terraform Labs in maintaining the UST peg by buying large amounts of UST to support its price, but executives from both sides kept this confidential. Terraform Labs founder Do Kwon has previously been sentenced to 15 years in prison for two counts of fraud.

On Tuesday morning, US stocks saw the issuer of USDC, Circle (CRCL), drop by as much as 18%, while the crypto platform Coinbase (COIN) fell by about 8%. CoinDesk reported that the latest draft of the U.S. Clarity Act aims to restrict rewards on stablecoin balances, including prohibiting rewards for passive stablecoin balances and banning structures that are "economically equivalent to interest."Mizuho analyst Dan Dolev stated that the draft may prohibit payments of earnings solely for holding stablecoins and limit any practices that make the program equivalent to bank deposits in any way. The report mentioned that the GENIUS Act previously prohibited issuers from directly paying earnings to users, but issuers and platforms arranged rewards through methods such as distributing earnings from reserve assets; among them, Circle earns interest on the assets backing USDC and shares it with Coinbase, which uses this to provide rewards to users.Keyrock digital asset researcher Amir Hajian noted that the latest draft of the Clarity Act points to the aforementioned "earnings penetration" model by prohibiting arrangements that are "economically equivalent to interest." Additionally, USDT issuer Tether announced that it has hired one of the "Big Four" accounting firms to conduct a comprehensive audit of its USDT reserves. The report also pointed out that this drop occurred after Circle's stock price had risen by 170% since early February, with Clear Street analyst Owen Lau suggesting that the market reaction may be excessive; market participants are also factoring in expectations of interest rate hikes.

According to CoinDesk, cryptocurrency industry practitioners saw the latest provisions regarding stablecoin yields in the revised version of the Senate's "Digital Asset Market Clarity Act" during a closed-door review meeting on Capitol Hill on Monday. The initial impression is that the relevant language is too narrow and not clear enough.The new provisions were announced last Friday by Senators Angela Alsobrooks and Thom Tillis. According to a person familiar with the current draft, the new provisions will prohibit earning yields solely from holding stablecoins, while restricting any practices that equate the program with bank deposits, and setting further limitations on other potentially allowed activities, with the specific identification mechanism for activity-based stablecoin rewards still unclear.This compromise stems from the lobbying struggle between the cryptocurrency industry and the banking sector: the banking industry insists that stablecoin rewards should not be similar to interest-bearing bank deposits, arguing that such competing products could harm the banking sector and suppress lending. The final compromise allows for reward programs based on user stablecoin activities but prohibits rewards based on balances.The closed-door review aims to push the Senate Banking Committee to schedule a hearing, which is an important step for the bill toward a full Senate vote. A similar version of the "Clarity Act" was passed in the House of Representatives last year, and another version has also passed the Senate Agriculture Committee's markup process. The advancement of the bill still faces other obstacles: all parties need to reach an agreement on the DeFi regulatory framework, and Democrats insist on including provisions that prohibit senior government officials from profiting personally from the cryptocurrency industry, a provision clearly targeting President Trump.

According to Bloomberg, New York digital asset management firm ParaFi raised $125 million for its new fund in March, which is supported by KKR co-founder Henry Kravis.ParaFi stated that since the beginning of 2025, the company has raised $325 million for its existing digital asset-related investment strategies. Currently, the company manages approximately $2 billion in assets. Founder Ben Forman mentioned that ParaFi is already an investor in projects such as the prediction market giant Polymarket, asset management firm Bitwise, and crypto custodian Anchorage, and is currently focused on companies active in the areas of stablecoins, tokenization, and institutional on-chain finance.