currency

According to CoinDesk, Vietnam's securities regulator stated that the country's digital finance development is entering a critical stage, and plans may soon be announced to launch a pilot project for a cryptocurrency trading market to promote the standardized development of the digital asset industry.Currently, Vietnam ranks seventh in the world in terms of cryptocurrency user scale, with a trading growth rate ranking fifth globally, and market demand remains strong.

According to the Times of India, the Gujarat police have arrested two suspects involved in cryptocurrency-related cybercrime, with the network allegedly trading over 226 million rupees. Investigators claim that the network is linked to terrorist financing, global drug trafficking, and dark web financial activities.Officials stated that this arrest is part of an ongoing investigation into the use of cryptocurrency channels for terrorist financing. Previously, 10 suspects had already been arrested during the investigation. The two latest suspects are accused of using the KYC information of a man named Sabbir Ali Sarani to create a Binance wallet and receiving 5,000 USDT through layered transactions.

Chairman of Bitmine, Tom Lee, posted on the X platform stating that one should not be misled by false information, and he believes that the current bull market in the stock market remains solid.Tom Lee stated that cryptocurrency is the only way to achieve tokenization, and in the future AI world where machines interact with each other, cryptocurrency will play a key role.

DWF Labs co-founder Andrei Grachev stated on the X platform that BitMine and Strategy have a significant chance of causing the largest market crash in cryptocurrency history. I cross my fingers and pray this doesn't happen, but if it does, users should consider what strategies to adopt if Bitcoin crashes to $10,000 to $20,000.As the crypto market has continued to pull back recently, Strategy, led by Michael Saylor, holds 843,706 BTC at an average price of $75,699, with an unrealized loss of approximately $12.27 billion. The Ethereum treasury company BitMine, supported by Tom Lee, currently holds 5,416,901 ETH at an average price of $3,500, with an unrealized loss of approximately $10.35 billion.

According to the "Procuratorial Daily," Lin, Zeng, and Dai conspired to use virtual currency trading as a pretext. During the trading process, they secretly filmed the victim's digital wallet private key and, after the virtual currency was credited, secretly logged into the victim's wallet to reverse the transaction, transferring the related virtual currency back to their controlled accounts. The three committed the crime three times, causing the victim a total economic loss of 660,000 yuan.The first-instance court held that in the absence of a clear judicial interpretation regarding the valuation method of virtual currency and sentencing standards, it was inappropriate to directly determine the amount involved as particularly huge based on the victim's purchase amount of 660,000 yuan. Therefore, they sentenced the three based on "other serious circumstances," imposing prison terms ranging from eight years to five years and six months, along with fines. The Hanyang District Procuratorate of Wuhan City in Hubei Province subsequently filed an appeal, which was supported by the Wuhan City Procuratorate.The prosecution argued that the first-instance court applied the law incorrectly and imposed an excessively light sentence. Prosecutor Dai Wentao of the Wuhan City Procuratorate stated that in the case where the victim had a clear loss amount to refer to, it was contradictory and legally erroneous to claim that the value of virtual currency could not be determined. In judicial practice, using the resale price and transaction price as the basis for determining the amount of theft has become mainstream, and determining the value of virtual currency based on the actual cost paid by the victim has factual, legal, and practical basis.The Intermediate Court of Wuhan accepted the prosecution's opinion in the second instance, revoked the corresponding content of the original judgment, and changed the determination of the theft amount to particularly huge. It sentenced the principal offender Lin to ten years and six months in prison for theft, and sentenced the accomplices Zeng and Dai to eight years in prison each, along with fines.

According to CoinGecko data, Ethereum's market capitalization has fallen to $182.8 billion, below USDT's $187 billion, and it has now dropped to the 3rd position in the cryptocurrency market capitalization ranking.

According to CriptoNoticias, the Southern Metropolitan Prosecutor's Office in Chile, along with the police, dismantled a money laundering network involving approximately 90 million USD, with about 20 people arrested.The network is suspected of converting illegal funds into cryptocurrency through exchanges and transferring them abroad, with one Banco Santander account manager arrested. Prosecutor Héctor Barros stated that this is one of the largest money laundering cases in Chile in recent years, and the related illegal activities were not conducted through the bank's corporate infrastructure, with the bank cooperating in the investigation.

According to Cointelegraph, the Illinois State Legislature has passed the budget for the fiscal year 2027, which includes a provision to impose a 0.2% tax on cryptocurrency transactions, to be collected by digital asset brokers. This measure, referred to as the "privilege tax," is part of the amendment to the "Digital Asset Privilege Tax Act," which includes registration requirements for any digital asset broker operating in Illinois.Starting from January 1, brokers who fail to comply with the relevant regulations may be classified as a Class 3 felony in the state, facing two to five years of imprisonment and a fine of up to $25,000. The budget has been approved by the state legislature on Monday but still requires the signature of Governor JB Pritzker to take effect. JB Pritzker has publicly stated multiple times that he plans to sign the bill as soon as possible, but as of Friday morning, he has not yet signed it. Legislators expect that the cryptocurrency tax will generate $60 million in revenue for the state.

Regarding BTC briefly dropping below $60,000, Coinbase CEO Brian Armstrong stated on the X platform, "Many people still believe or feel that a drop in Bitcoin means a drop in cryptocurrency. However, derivatives, perpetual contracts, stablecoins, prediction markets, and more are all on the rise.Cryptocurrency involves various fields of finance, and now it covers a broader scope than Bitcoin. It will take some time for people to truly understand this. Of course, Bitcoin will perform excellently in the future and will remain as important as ever; this is just one of the many cycles we are experiencing."

After the US stock market opened, the cryptocurrency market accelerated its decline, with Bitcoin falling below $61,000 and Ethereum briefly dropping below $1,600. According to Coinglass data, nearly $160 million was liquidated across the network in the last hour, with long positions accounting for $156 million, and nearly $1.238 billion liquidated across the network in the last 24 hours. A total of 260,647 people were liquidated globally, with the largest single liquidation occurring on Binance - BTCUSDT, valued at $13.3164 million.

According to a report by South Korea's SBS News, the Financial Intelligence Unit (FIU) of South Korea has adjusted the amendment to the Enforcement Decree of the Specific Financial Information Act, removing the mandatory reporting obligation for virtual asset transfers exceeding 10 million won, and instead allowing exchanges to manage risks independently. The original proposal required domestic operators to report to the FIU when transferring more than 10 million won abroad, regardless of the level of risk. After adopting industry opinions, the FIU decided to cancel the mandatory reporting and instead require companies to establish internal risk management systems.Other adjustments include: the scope of the Travel Rule will be expanded from amounts over 1 million won to all amounts; the strengthened customer verification for high-risk suspicious transactions will change from mandatory to only being executed when the company assesses the risk to be particularly high; small businesses will be given a one-year grace period for the reporting condition of a debt ratio not exceeding 200%; the requirement for anti-money laundering computer equipment to be located domestically will allow the use of overseas cloud services. The amendment will take effect on August 20 after review by the Legal Affairs Office.

According to SoSoValue data, the cryptocurrency market sector has generally declined, with the DeFi sector dropping 9.16% in 24 hours. Within the sector, Hyperliquid (HYPE), which had previously set historical records, corrected by 9.15%, and LAB (LAB) fell by 37.47%, but DeXe (DEXE) rose against the trend by 14.58%.However, the GameFi and NFT sectors remained relatively strong, rising by 0.49% and 1.38%, respectively. Within the GameFi sector, Audiera (BEAT) surged by 20.27%, and within the NFT sector, APENFT (NFT) increased by 0.15%. Additionally, Bitcoin (BTC) rebounded slightly by 1.33%, breaking through $63,000; Ethereum (ETH) continued to decline by 0.92%, falling below $1,800.In other sectors, the CeFi sector dropped 1.37% in 24 hours, with Cronos (CRO) rising by 0.12%; the PayFi sector fell by 1.55%, while Telcoin (TEL) rose by 24.29%; the Meme sector decreased by 2.01%, but Siren (SIREN) increased by 28.48%; the Layer1 sector fell by 4.1%, with Humanity (H) remaining relatively strong, rising by 3.9%; the Layer2 sector declined by 5.59%, and Starknet (STRK) surged by 3.48% during the day.The cryptocurrency sector index reflecting historical market trends shows that the ssiSocialFi, ssiAI, and ssiDePIN indices fell by 8.9%, 8.4%, and 7.49%, respectively.

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 cryptocurrency market experienced a new round of selling and liquidation on Thursday, with Bitcoin briefly dropping to $61,300 before rebounding to $64,680, currently reporting around $62,500. Over the past two days, the total market leverage liquidation scale was about $3 billion. Data shows that in the past 24 hours, futures trading volume rose to $305 billion, but open interest fell by 8.5% to $111.4 billion, indicating that the market is primarily deleveraging rather than adding new positions.Bitcoin's open interest fell from yesterday's historical high of over 800,000 BTC to 766,000 BTC. Investors seem to be leaving the cryptocurrency market and turning towards AI narratives in traditional markets. The derivatives market has clearly shifted to a bearish stance. The skew of BTC and ETH put options has strengthened, showing that investors are willing to pay higher premiums for downside protection. The nominal open interest of BTC put options with a strike price of $60,000 on Deribit exceeds $1 billion, while the most actively traded options contracts in the past 24 hours were the $55,000 put options.Altcoins have seen deeper declines, with NEAR, ZEC, JUP, DASH, ENA, and FET all dropping over 10%, and HYPE falling 12% after reaching a new high this week. The subsequent performance of altcoins largely depends on whether Bitcoin can hold above $60,000; if it falls below this level, it may trigger more liquidations and put greater pressure on trading pairs with weaker liquidity.

According to a report by Reuters, Reform UK, led by Nigel Farage, raised £9.3 million in the first quarter of 2026, surpassing the fundraising scale of major UK political parties for the third consecutive quarter, with some of the funds coming from large donations by cryptocurrency investors.

According to Beijing Business Today, the Monetary Authority of Macao announced that Macao has completed the system integration with the multilateral central bank digital currency bridge mBridge project, and officially launched local bank "on-bridge" transactions on June 2, to establish an efficient, secure, and low-cost cross-border payment settlement channel.