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According to FinanceFeeds, the Indian Parliament's Standing Committee on Finance has recommended that the government establish a temporary regulatory mechanism led by recognized Self-Regulatory Organizations (SROs) to oversee the domestic cryptocurrency and virtual digital asset market. The committee warned that the lack of a clear legal framework exposes millions of retail investors to operational, custodial, and fraud risks.The SRO will implement standardized codes of conduct under the direct supervision of the Reserve Bank of India or the Securities and Exchange Board of India, covering consumer protection, platform transparency, and token disclosure standards, and will be responsible for auditing exchange reserves, mandating the segregation of customer funds from corporate funds, and establishing user complaint handling channels. The committee emphasized that the temporary SRO must operate under strict oversight from the central bank or the securities regulator to address macroeconomic risks such as cross-border capital flows, dollarization of stablecoins, tax evasion, and violations of foreign exchange management laws.

The People's Bank of China Shenzhen Branch, Shenzhen Securities Regulatory Bureau, Municipal Internet Information Office, and Municipal Local Financial Supervision Administration continue to carry out special rectifications, urging local website platforms to strictly implement their main responsibilities and legally handle a number of illegal self-media accounts.Some typical cases include: "USDT Merchant Group Chat," "Gather Together to Play Virtual Currency," "Search for Bitcoin," "WeChat Quick Exchange," "Zhongchain Laojiu," "Medicine Breaks a Good Sleep," "Little Goldfish 9884," "User 0767527971," and other accounts that illegally provided marketing and promotional information related to virtual currency business activities within the country, enticing the public to participate in illegal financial activities related to virtual currency. According to the relevant policy provisions such as the "Notice on Further Preventing and Handling Risks Related to Virtual Currency," the aforementioned accounts have been permanently closed and dealt with by the platform in accordance with the law and agreements.

According to The Block, Solana blockchain infrastructure developer Jito Labs announced the launch of JTX, a self-custodial on-chain trading platform aimed at professional traders, designed to provide specialized trading tools that offer a trading experience closer to traditional finance for the Solana ecosystem.In its initial launch, JTX supports spot trading, covering Solana ecosystem assets, including cbBTC, SOL, HYPE, and various Meme coins, while also supporting tokenized real-world assets (RWA), including stocks and exchange-traded funds (ETFs).Jito stated that JTX is committed to resolving the contradiction between self-custodial models and trading execution efficiency, providing users with professional-grade trading features, including limit orders, automated execution, and conditional orders. Users always retain control of their private keys, and trade settlements are completed directly on-chain without relying on centralized custodial institutions.

Multicoin Capital, as the sole institutional investor, invested $1.75 million in Trasia Labs' seed round financing, officially entering the Hyperliquid ecosystem. Trasia is a perpetual contract trading platform natively built on Hyperliquid, primarily targeting the Asian market.Trasia was co-founded by former Multicoin Capital partner and former Stepn team Chief Revenue Officer Mable Jiang, along with Web3 practitioner Edison Chen. It officially launched its first web version on July 17, supporting both Chinese and English languages. The mobile app is expected to be launched in August and has initiated an invitation-based Asia Points rewards program. The platform currently connects to the Hyperliquid native perpetual market in a non-custodial manner and plans to launch its own perpetual contracts based on the HIP-3 protocol, focusing on asset classes that are of high interest to Asian investors, such as AI infrastructure and Pre-IPO. The official statement indicated that over $35 million in HYPE and USDC has been invested to support the growth of the Asian stock perpetual market and related ecosystem.

Michael Saylor posted on the X platform that many Bitcoin supporters he respects back the BIP 110 proposal. He understands and agrees with these individuals' desire to protect Bitcoin, but believes that the solutions proposed by this proposal are "more dangerous than the problem itself." Bitcoin needs guardians to maintain network neutrality, and he stated that he will present "110 reasons" explaining why Bitcoin must adhere to the principle of neutrality. Protecting Bitcoin is crucial in maintaining its fundamental attributes as a global open, decentralized currency network, rather than resolving short-term disputes in ways that may undermine network consensus.

According to The Block, Trezor's Chief Business Officer Danny Sanders refuted recent criticisms of cryptocurrency hardware wallets made by blockchain investigator ZachXBT.Earlier this week, ZachXBT posted on Telegram, "All hardware wallets are complete garbage and I do not recommend using them for important tasks such as signing transactions or storing funds," and suggested that users use a dedicated iPhone to store funds and sign transactions.In response, Sanders acknowledged in an interview that firmware/software updates for hardware wallets can sometimes interfere with urgent or large transactions, and that the user experience can indeed be "clunky," understanding the users' frustration. However, he opposed ZachXBT's blanket statement: while hardware wallets may not be the best single solution for advanced users managing large amounts of funds, they are not garbage.He pointed out that compared to hardware wallets, the operating system and connectivity features of an iPhone present more "attack risks." For the average cryptocurrency user, hardware wallets remain the best self-custody option available.

A court in São Paulo, Brazil ruled that Coinbase must refund nearly $100,000 to a user who claimed that funds deposited in their Coinbase Wallet disappeared in an unauthorized transaction. Coinbase argued that the wallet's private key is entirely controlled by the user, but failed to prove that the transaction was initiated by the wallet holder, nor did it demonstrate the existence of security measures to prevent this outcome.The court made its ruling based on relevant provisions of the Consumer Protection Law and ordered Coinbase to refund the full amount along with statutory interest.

According to The Block, Binance Co-CEO Richard Teng stated at the Reuters NEXT Asia summit in Singapore that after Binance suspended services to some EU users, about 70% of users' withdrawal assets flowed to self-custody wallets, with only 30% transferred to licensed platforms that comply with MiCA regulatory requirements.Richard Teng indicated that this data raises questions about the regulatory goals of MiCA. He pointed out that self-custody wallets are not subject to the anti-money laundering (AML) and KYC regulatory frameworks of regulated trading platforms, and the risk may actually increase once user assets are transferred to self-custody.Previously, Binance proactively withdrew its application for a MiCA license in Greece after it failed to be approved before the July 1 transition deadline, and suspended related services to affected EU users. Richard Teng stated that Binance has not given up on the European market, and several EU countries have invited it to reapply for local licenses, although he did not disclose specific countries.In addition, Richard Teng mentioned that Binance plans to continue accelerating its expansion in the Asian market, having already obtained relevant licenses or permissions in markets such as Japan, South Korea, Thailand, Indonesia, Australia, India, and Pakistan, and expects to gain more regulatory approvals this year. Currently, Binance's global user base has increased to approximately 323 million.

According to official news, Tria has announced the launch of its first self-custody VIP trading program "VIP Trading Badges." This program categorizes users based on their trading volume and aims to provide multiple exclusive benefits for trading users.It is reported that through this VIP program, eligible users can enjoy up to a 50% discount on trading fees and up to 10% cashback, as well as receive premium rewards covering the entire Tria ecosystem. Users can currently log in directly to the Tria platform to check their current VIP level status.

According to a report by The Information, multiple informed sources revealed that China's leading AI company Zhiyu is considering designing its own AI chips. It is reported that as the demand for its GLM series large models has rapidly surged, coupled with increasing constraints on computing resources, Zhiyu has recently had preliminary contacts with several domestic chip design companies to explore the possibility of collaborating on the development of custom AI processors.The report pointed out that for large AI model developers, the layout of self-developed chips aims to achieve software and hardware collaborative optimization, improve computing power utilization efficiency, and reduce dependence on external GPU suppliers. In addition to Zhiyu, another domestic large model company, DeepSeek, has also been reported to be simultaneously advancing its self-developed chip project focused on inference scenarios. Globally, top AI developers such as OpenAI (which has announced its self-developed chip Jalapeño) and Anthropic are actively laying out custom chips, and the AI industry is accelerating towards a dual-line layout phase of "model + chip" software and hardware integration.

The New Hampshire House Bill HB639 has completed the registration process. The bill specifies that state and local governments may not restrict individuals from using digital assets for payments or holding assets through self-custody wallets, nor may they impose additional taxes solely for the use of digital assets.At the same time, individuals or businesses operating nodes, engaging in mining or staking activities, are not required to obtain a money transmission license, and such activities are not considered the issuance or sale of securities.

According to official news, the perpetual contract trading platform Drift announced today that it has officially changed its name to Velocity, stating that this brand upgrade aims to reflect the new generation trading platform architecture it is building.The team pointed out that in the perpetual contract market, execution speed and directional judgment are crucial. The name "Velocity" aims to embody trading speed and market momentum, while marking the platform's entry into a reboot phase.The official statement indicated that this renaming also represents a clear boundary in the product roadmap: the new platform will adopt a clearer system architecture, stronger security infrastructure, and a more defined product positioning. Currently, Velocity is advancing its reconstruction work and plans to open a private testing version to some partners and traders in the coming days to validate the stability and performance of the new generation Solana-based perpetual contract trading system.

According to CoinDesk, MetaMask has announced the launch of a new self-custody account called "Money Account," which integrates stablecoin earnings, payment consumption, and trading functions into a single wallet system, further promoting its transformation into a comprehensive financial platform.This product is released by Consensys and built on the Monad blockchain, with the core asset being the USD-pegged stablecoin mUSD. Users can earn up to approximately 4% floating annual yield while holding assets, with funds automatically allocated to decentralized lending protocols such as Morpho, and Aave will be integrated later.Unlike traditional DeFi products, this account does not require manual transfers of funds between protocols; earnings automatically take effect after deposit and can be directly used for token exchanges, perpetual contracts, and prediction market trading functions.

The B.AI platform's "custom service provider" model matrix has officially expanded, with the latest integrations of mainstream large models such as Moonshot (Kimi series) and Z.ai (GLM series).This module covers four major discount groups: 10% off, 40% off, 60% off, and 80% off. Users can generate a personalized "discount model invocation Key" with a single click, allowing for flexible switching between core business and daily testing, achieving a precise balance of high availability and low cost.In addition, all discounts can be stacked with a maximum 1:1 recharge bonus, further lowering the computational power threshold. Starting today, log in to the B.AI console to customize your exclusive model combination and immediately enter the era of AI invocation with exceptional cost performance.

According to an official tweet from Sovra, Sovra has completed a $2 million Pre-seed funding round, led by Pharsalus Capital. Sovra is a self-custodied fintech platform primarily targeting the Middle East and North Africa, providing users with USDC-based global digital dollar accounts. The platform enables users to hold, send, use, and earn digital dollar yields while maintaining control over their funds without relying on traditional banks or custodians.

U.S. Securities and Exchange Commission (SEC) Commissioner Hester Peirce expressed views on the future regulation of perpetual contracts, prediction markets, and digital assets, with an overall tone that is relatively positive and open.Hester Peirce reviewed the Rule 611 trading transparency proposal that has been in the works for about 20 years, pointing out that the so-called "innovation exemption" mechanism will be intentionally set to be strict and limited, in order to balance market innovation and investor protection.Hester Peirce stated that a clearer regulatory framework should be adopted for new financial products such as tokenized securities, perpetual contracts, and prediction markets, rather than simply imposing restrictions or vague regulations. She also emphasized two core principles: self-custody and financial privacy should become fundamental rights in the future regulatory system and should be incorporated into the subsequent design of digital asset regulations.

"On-chain detective" ZachXBT published a case analysis stating that in a cryptocurrency asset case involving an Indian scam gang, the relevant individuals reported the case to law enforcement after their assets were frozen, drawing attention. The incident began when a user sought help, claiming that approximately 5.73 BTC (about $475,000) was frozen on Changelly in March 2025.Subsequent on-chain analysis revealed that these funds could be traced back to multiple social engineering attacks and theft cases related to Bitcoin ATMs targeting U.S. users, with a total amount involved exceeding $1 million and several elderly victims. The investigation showed that the individual provided multiple changing explanations for the source of the funds, including "loan," "boss transfer," and "investment from 2014-2015," and there were significant contradictions in the evidence chain.More concerning is that this user had previously filed a police report in India in December 2025, attempting to recover the frozen funds (case number 3207-P/2025). Subsequent on-chain evidence collection and email data analysis indicated that they might be a "mule" for transferring funds, with some bank documents inconsistent with their identity information. ZachXBT noted that such cases demonstrate that social engineering attacks and cross-border fund transfers continue to occur and remind users to avoid interacting with funds from suspicious sources to prevent triggering compliance freezes or legal risks.