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Cardano founder questions the progress of the "CLARITY Act" and urges the Trump administration's "crypto czar" to resign

According to Cryptopolitan, Cardano founder Charles Hoskinson expressed skepticism in an interview about the U.S. "Digital Asset Market Clarity Act (CLARITY Act)" passing in the first quarter of 2026, and called for David Sacks, the Trump administration's head of cryptocurrency affairs, to resign. Hoskinson pointed out that since Sacks took office at the end of 2024, cryptocurrency prices have fallen, regulatory clarity has been lacking, and the industry has failed to establish a solid foundation for development.He believes that if the bill does not pass this quarter, Sacks should resign, stating that he has "let the entire industry down." Hoskinson also mentioned that if the Democrats regain control of the House in the midterm elections in November, the bill will be even less likely to pass. He criticized the current U.S. cryptocurrency policy for favoring large financial institutions over retail investors, centralizing the industry around Wall Street firms like BlackRock, Goldman Sachs, and Morgan Stanley.Additionally, Hoskinson reiterated that Trump-related cryptocurrency projects have caused market confusion, emphasizing that cryptocurrencies should remain global and neutral, rather than being nationalized or politicized. He advocates for the U.S. to establish enduring and non-restrictive cryptocurrency regulations, even if it takes longer.

Zhongke Lian'an: China's cryptocurrency regulatory lineup has added the Ministry of Justice, the Central Financial Office, and the National Financial Administration compared to 2021

According to an analysis by Zhongke Lian'an, the People's Bank of China held a coordination meeting on combating virtual currency trading speculation on November 28, in conjunction with the Ministry of Public Security, the Central Cyberspace Administration, and a total of thirteen departments.The lineup of this meeting is noteworthy. Compared to the ten ministries involved in the "924 Notice" of 2021, the addition of the Central Financial Office and the National Financial Regulatory Administration, as well as the Ministry of Justice, signifies that China's regulation of virtual currencies is transitioning from sectoral collaboration to comprehensive system governance.Analysis indicates that this change will reshape the regulatory landscape on three levels: Upgraded Coordination Framework: The involvement of the Central Financial Office will promote regulation from departmental collaboration to a higher-level cross-sector coordination, forming a synergy of policies and resources. Deepened Regulatory Framework: The inclusion of the National Financial Regulatory Administration means that regulation will shift from basic monitoring of capital flows to precise identification and professional investigation of illegal financial activities. Improved Legal Framework: The addition of the Ministry of Justice will promote regulation from being dominated by administrative documents to a stronger legal application and enforcement connection, solidifying law enforcement authority.In addition, the meeting clearly identified "stablecoins" as the core target of this crackdown and emphasized a focus on "information flow and capital flow," aiming to build a technology-driven full-chain monitoring system, demonstrating the regulatory body's determination and means to comprehensively upgrade the crackdown on illegal activities related to virtual currencies.Previously, the People's Bank of China held a coordination mechanism meeting to combat virtual currency trading speculation.

The Cyberspace Administration of China publicly solicits opinions and encourages financial institutions to explore the use of digital renminbi and other new payment methods for cross-border payments

ChainCatcher news, according to a report by Every Day Network, aims to promote and standardize the application of electronic documents, improve the digital level of goods trade and transportation, reduce logistics costs for the entire society, safeguard the legitimate rights and interests of parties involved in electronic document activities, and maintain national security and public interests.According to relevant laws and regulations, the National Internet Information Office, in conjunction with relevant departments, has drafted the "Regulations on Promoting and Standardizing the Application of Electronic Documents (Draft for Comments)" and is now soliciting public opinions. It mentions encouraging institutions and enterprises in the fields of goods trade, logistics, finance, etc., to recognize and use electronic documents when conducting business, enhance the digital level of business applications, and promote quality and efficiency improvements in the industry.Encouraging financial institutions to explore the use of new payment methods such as digital RMB for cross-border payments based on the characteristics of electronic documents, under the premise of legal compliance and controllable risks, and to actively and steadily carry out innovation in financial products and service models.

The Trump administration submitted new arguments seeking court support to remove Federal Reserve Board member Cook

ChainCatcher news, according to Jinshi Data reports, the U.S. Department of Justice has presented new arguments regarding why President Trump should be allowed to dismiss Federal Reserve Board member Lisa Cook, claiming that her statements about the "excuse for interest rate cuts" are baseless. Cook has been accused of mortgage fraud and is currently challenging the dismissal decision.On Thursday, U.S. government lawyers urged the judge once again to dismiss Cook's request to prohibit her dismissal during the litigation, reinforcing the arguments made at last week's hearing. Hours before this legal filing, reports emerged that the Department of Justice has launched a criminal investigation into Cook. The U.S. government argues that the fraud allegations first raised by Federal Housing Finance Agency Director Mark Calabria constitute sufficient "grounds" under U.S. law for Trump to fire her.In Thursday's filing, the Department of Justice emphasized that the judge should not "question" Trump's judgment regarding the grounds for dismissal and reiterated that her alleged dismissal was merely an excuse to control the Federal Reserve and cut interest rates. "Her only 'evidence' is that the president has criticized the Federal Reserve's policies," the document states, "but mere policy disagreements do not mean the president dismissed Cook for that reason."
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