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The National Association of Attorneys General, the National Association of Assistant U.S. Attorneys, the International Association of Chiefs of Police, and the National Sheriffs' Association jointly sent a letter to the Department of Justice and the White House on Tuesday, warning that Section 604 of the Digital Asset Market Structure Clarity Act contains serious enforcement loopholes that could make it difficult for law enforcement agencies to investigate and prosecute crypto-related criminal activities. The letter pointed out that Section 604 includes broad exemption clauses that may allow individuals or entities assisting in the circulation of crypto assets to evade regulatory accountability, disrupting the investigative and enforcement powers that have long been relied upon.The four organizations emphasized that their concerns are not aimed at developers who simply write or publish software code, but rather at the broad exemptions that may provide a shield for illegal activities. The core of the controversy lies in Section 604—the "Blockchain Regulatory Clarity Act" (BRCA) provision, which was originally a standalone bill but was later incorporated into the Clarity Act, aimed at providing a safe harbor for non-custodial developers, clarifying that they do not fall under money transmission entities. Law enforcement organizations believe this move will create obstacles for investigations into crypto crimes.Additionally, the letter pointed out that several other provisions of the bill would "reduce transparency, weaken accountability mechanisms, and create loopholes in the anti-money laundering framework." On the same day, nearly a hundred Catholic leaders representing parishes across the country also issued a warning, stating that the bill could weaken protections against human trafficking. In response, White House cryptocurrency advisor Patrick Harker insisted that the Clarity Act is a bill that "supports regulation and supports law enforcement," emphasizing that the U.S. must proactively set standards or risk passively accepting the rules of other countries.

According to Cointelegraph, the U.S. House of Representatives passed housing legislation with a vote of 358 to 32, which includes a provision for a temporary ban on central bank digital currencies (CBDC), lasting until 2030. The bill has now been sent to President Trump for signing. Previously, it was reported that the U.S. Senate passed a housing bill that includes a four-year ban on the Federal Reserve's CBDC.

Chairman of the U.S. House Military and Foreign Affairs Subcommittee, Republican Congressman William Timmons, announced that a roundtable meeting will be held on June 25, focusing on how digital assets and cryptocurrencies can help individuals protect their wealth, access assistance, and maintain economic autonomy. In addition, this roundtable will also explore the intersection of digital finance and U.S. national security interests, and examine how the U.S. can promote financial innovation and maintain competitiveness in the digital finance sector.

According to Livecoins, the Brazilian House of Representatives' Finance and Taxation Committee (CFT) has approved a bill to penalize cyber fraud, authorizing the freezing of cryptocurrency balances of individuals under police investigation, and also proposing amendments to relevant provisions of the Penal Code to increase penalties for cybercriminals.Crimes committed through social media or phone will face harsher penalties, with those convicted of cyber attacks facing imprisonment of 6 to 10 years, up from the previous 4 to 8 years. Additionally, judges will have the authority to freeze suspects' assets in Bitcoin exchanges and bank accounts. Some preventive measures include freezing physical assets and prohibiting the use of payment systems. The bill will next be submitted to the Constitution and Justice Committee (CCJ) for review, which is expected to be completed in the coming days.

According to CoinDesk, bipartisan members of the U.S. House of Representatives introduced a bill on Thursday to establish a federal cryptocurrency theft task force led by the Attorney General, aimed at coordinating and leading investigations into cryptocurrency theft, fraud, and hacking.The bill was jointly initiated by Republican member Lance Gooden of the House Judiciary Committee and Democratic member Josh Gottheimer of the House Financial Services Committee.The task force will encompass multiple federal agencies, including the Department of Justice, the Federal Bureau of Investigation, the Department of Homeland Security, and the Department of the Treasury, aiming to address the $11 billion theft and fraud issues caused last year and provide a unified federal response mechanism for victims.

According to crypto journalist Eleanor Terrett, the U.S. House of Representatives' fundraising committee held a crypto tax hearing at 2 PM local time, introducing six separate bills and a discussion draft beforehand. The six bills cover crypto donations, taxation of mining and staking, reporting requirements, equal tax treatment, voluntary disclosure, and applying existing anti-abuse tax rules to digital assets; the discussion draft addresses offshore crypto tax evasion.The committee stated that the aforementioned bills aim to create clarity, fairness, and operability for digital assets, and to maintain the U.S. position as a global crypto hub. Witnesses attending the hearing included representatives from Fidelity, Coinbase, Coin Center, and NYU's Tax Law Center.

According to Jinshi, citing a Saudi Arabian television station and a White House official, negotiations on an agreement to prevent Iran from obtaining nuclear weapons are making positive progress.

Crypto journalist Eleanor Terrett revealed that three informed sources disclosed that U.S. government officials will hold a meeting with law enforcement groups at the White House on Wednesday to address concerns that certain provisions in the Clarity Act (including developer protection provisions derived from the Blockchain Regulatory Certainty Act) may increase the difficulty of cracking down on illegal finance.This issue, along with the ethical provisions, is one of the main obstacles that must be resolved before the bill is submitted for a full vote in the Senate. Several Democrats have stated that they will not support the bill unless the concerns of law enforcement are adequately addressed. Prior to this meeting, the crypto industry has conducted broader outreach, including holding town hall meetings and inviting former law enforcement officials currently working in the crypto industry to participate in lobbying.

According to Crypto In America, the U.S. House of Representatives' fundraising committee will hold a hearing on cryptocurrency tax reform this Tuesday, reviewing seven discussion drafts covering aspects such as stablecoin trading, mining and staking, crypto lending, wash sale rules, charitable donations, and taxpayer disclosures. Essentially, this breaks down the previously proposed "Digital Asset Equality Act" into multiple independent pieces of legislation.Meanwhile, negotiations on the Senate's "Clarity Act" are still ongoing. Senator Lummis stated that the bill is more likely to advance after Congress reconvenes on July 13, with core disagreements focused on ethical clauses, DeFi regulatory language, and stablecoin yield issues. The banking industry continues to lobby against stablecoin yield clauses, while over 200 crypto organizations have jointly written to urge the swift advancement of the bill for a vote.In addition, Illinois plans to impose a 0.2% tax on digital asset transactions, which has sparked strong opposition from industry groups, warning that this move will drive crypto companies out of the state.

According to the official website of the U.S. Congress, the full text of the U.S. House of Representatives' "American Reserve Modernization Act" (H.R.8957, ARMA) has been made public. This bill was introduced on May 21 by Alaska Congressman Nicholas Begich and has now been referred to the House Financial Services Committee for review.The main content of the bill includes: incorporating Bitcoin obtained by the government through criminal or civil forfeiture into a strategic Bitcoin reserve managed by the Treasury Department, establishing a minimum holding period of 20 years during which it cannot be sold or disposed of; establishing a quarterly reserve verification mechanism and introducing independent third-party audits; allowing states to voluntarily hold their Bitcoin in independent accounts at the Federal Reserve.In terms of forward-looking provisions, the bill requires the Treasury Department and the Department of Commerce to jointly study feasible paths for increasing Bitcoin holdings in a budget-neutral manner within 180 days, including converting non-Bitcoin digital assets, forfeiture proceeds, voluntary donations, tax or tariff revenues, and utilizing mechanisms related to the Federal Reserve or gold certificates.Analysts point out that compared to the previous "BITCOIN Act," which called for the purchase of 1 million Bitcoins, ARMA is more moderate and politically feasible, but still leaves room for future federal increases in Bitcoin holdings.

According to Bloomberg, the U.S. House Ways and Means Committee is preparing legislation to establish a cryptocurrency tax structure, which could be released as early as Friday, followed by a hearing early next week. Committee Chairman Jason Smith will prioritize the development of a digital asset tax framework, with the Treasury Department also involved in the process.The committee is expected to release seven bills addressing when tokens obtained through mining or staking will be taxed, exempting certain stablecoin transactions from capital gains tax, equal tax treatment for digital assets and securities (including charitable donations), allowing foreign investors to trade U.S. securities without being taxed as domestic entities, and expanding wash sale rules to digital assets.

The U.S. cryptocurrency market structure bill, the "Clarity Act," is a "support for regulation, support for enforcement" bill that rebuts criticisms from some law enforcement agencies regarding its inadequacy in preventing financial crimes. As the midterm elections approach, the time window for Congress to pass this bill is narrowing. Senator Cynthia Lummis warned that if progress is not made this year, the bill may not be seriously reconsidered until after 2030. Currently, the Clarity Act still faces multiple controversies, including stablecoin yield arrangements, conflicts of interest arising from Trump-related cryptocurrency businesses, and whether anti-money laundering standards are stringent enough.The latest version also incorporates the "Blockchain Regulatory Certainty Act" (BRCA) pushed by DeFi supporters, aimed at clarifying that non-custodial developers should not be regarded as money transmitters. However, some law enforcement groups and lawmakers are concerned that the BRCA and certain provisions of the bill may weaken the ability to track illegal funds and recover victims' assets. Witt stated that lawmakers have responded to these concerns before the Senate Banking Committee vote and added provisions to strengthen regulatory and enforcement foundations.

According to a report titled "Stablecoins: Waiting for Regulation" released by the UK House of Lords Financial Services Regulatory Committee, the global market capitalization of stablecoins has exceeded $310 billion, but the UK pound stablecoin market is still in its infancy, and the construction of the regulatory framework is clearly lagging behind the United States (GENIUS Act) and the European Union (MiCAR).The report criticizes several aspects of the current regulatory proposals from the UK Financial Conduct Authority (FCA) and the Bank of England, focusing on:• The Bank of England's requirement for systemic stablecoin issuers to deposit at least 40% of reserve assets in non-interest-bearing central bank deposits, which the industry believes will severely harm issuers' profitability and the international competitiveness of the UK market;• The proposed holding limits (individual £20,000, corporate £10 million) are considered extremely difficult to implement and may stifle the development of the pound stablecoin market;• The T+1 redemption requirement will impose a significant operational burden on issuers;• The Prudential Regulation Authority (PRA) restrictions on deposit-taking institutions issuing stablecoins under independent brands are deemed overly stringent.The report also acknowledges the liquidity support loan mechanism proposed by the Bank of England, considering it an innovative regulatory measure that surpasses other major jurisdictions. The committee calls on regulatory agencies to strictly adhere to the established timeline, ensuring that the complete regulatory framework comes into effect as scheduled on October 25, 2027, and recommends adopting a principle-based, technology-neutral regulatory approach to achieve a reasonable balance between financial stability and market innovation.

According to The Block, the UK's House of Lords Financial Services Regulatory Committee pointed out that the UK is lagging behind the US and the EU in stablecoin regulation.The committee urged the Bank of England and the Financial Conduct Authority (FCA) to revise several proposals, including reconsidering the holding limits of £20,000 for individuals and $10 million for businesses, the 40% zero-interest central bank deposit reserve requirement, and restrictions on commercial bank issuance. It also suggested that the FCA review the k-factor capital requirements scaled by issuance rather than risk.

According to CoinDesk, the UK House of Lords Financial Services Regulatory Committee has called on the Bank of England to reconsider the proposed limits on stablecoin holdings in its latest report. The committee suggested that rather than imposing a holding cap in advance, it would be better to monitor market growth and only implement restrictions when financial stability risks clearly necessitate it. The Bank of England had previously proposed a holding limit of £20,000 for individuals and £10 million for businesses for each stablecoin. The report also questioned the rules on reserve assets, stating that this could have a significant impact on the commercial viability of UK stablecoin issuers. The Deputy Governor of the Bank of England acknowledged last month that the proposed holding limits and reserve requirements were "too conservative" and stated that they are exploring other ways to manage the risks associated with stablecoins.

According to Bloomberg, the White House is reviewing early proposals from the U.S. SEC and CFTC regarding the re-examination of swaps and security swap reporting requirements, which are currently in the pre-rule stage. The two regulatory agencies plan to solicit public opinions before formally drafting regulatory details. The current reporting rules for swaps and security swaps in the U.S. are not unified, and some existing compliance exemption policies will expire in 2029.The International Swaps and Derivatives Association and the Securities Industry and Financial Markets Association jointly sent a letter last month urging regulators to unify the data reporting standards for the two types of products, while ICE Trade Vault LLC made a similar request. The CFTC stated that this work is being carried out jointly by the two agencies, and the SEC chairman has arranged for personnel to establish a unified reporting system during the industry conference in March. The new regulations will require two rounds of agency voting and public consultation before implementation.

According to crypto journalist Eleanor Terrett, U.S. Treasury Secretary Scott Bessent reiterated today that a central bank digital currency (CBDC) will not be launched during the Trump administration. However, the House of Representatives has passed the "ROAD to Housing Act," which only includes a temporary ban on the Federal Reserve issuing a CBDC, set to expire in December 2030. The bill has not yet passed in the Senate.Senate Republican leader Thune stated that pushing for a permanent ban may face resistance from Democrats. Some House Republicans believe that the expiration of the ban may reopen the space for the Federal Reserve to explore a CBDC. Fed Chairman Kevin Warsh stated that as long as he has the authority to stop it, he will not allow the Fed to advance a CBDC.

According to The Block, the Office of Information and Regulatory Affairs (OIRA) under the Office of Management and Budget of the White House stated on its website on Tuesday that it has received the proposed rules for prediction markets submitted by the Commodity Futures Trading Commission (CFTC) and is currently under review. A CFTC spokesperson stated that more information will be released after the OIRA review is completed.CFTC Chairman Michael Selig has consistently argued that prediction markets fall under the "exclusive jurisdiction" of his agency and has filed lawsuits against five states, including Wisconsin, Illinois, Arizona, Connecticut, and New York. Trump publicly supported Selig on Tuesday, stating that the CFTC's exclusive jurisdiction over prediction markets is "critical."