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The U.S. Clarity Act legislative efforts have collapsed, and cryptocurrency regulation is at a standstill

According to CoinDesk, the Clarity Act, aimed at establishing a clear regulatory framework for cryptocurrency in the United States, has been declared a failure after months of intense negotiations. The bill was originally intended to address the definition of digital assets at the federal level, but it failed to reach the final voting process due to fierce interest group conflicts.Multiple sources indicate that the core reason for the legislative collapse lies in complex jurisdictional conflicts and disputes over terms. The CFTC (Commodity Futures Trading Commission) and SEC (Securities and Exchange Commission) are in disagreement over the management rights of certain digital assets, while lawmakers also struggle to reach a consensus on how to define the legal attributes of NFTs, DeFi protocols, and stablecoins. Despite calls from organizations to eliminate market uncertainty through legislation, a key compromise proposal ultimately could not be reached.The Fintech Association and other industry organizations had previously lobbied actively in support of the bill, hoping to establish clear industry standards. With the failure of this legislation, traditional financial institutions on Wall Street and cryptocurrency projects will continue to face legal gray areas, and the industry's compliance process will thus be forced to delay.

first_img The U.S. Department of Justice and CrowdStrike teamed up to dismantle the Sality botnet, which had been operating for over 20 years

According to Decrypt, CrowdStrike and the U.S. Department of Justice announced on Tuesday that they have dismantled the Sality peer-to-peer botnet, which has been active since 2003.This botnet primarily hijacked cryptocurrency payments through the EggJagger malware over the past eight years, which monitored the cryptocurrency wallet addresses in victims' clipboards and replaced them with the operator's own address, causing victims to send funds to strangers.CrowdStrike estimates that the operator has stolen at least 12.1 million rubles (approximately $150,000) solely through the EggJagger payload. Most of the stolen cryptocurrency has not been spent, and CrowdStrike assesses that these unspent assets were worth about 147 million rubles (nominally around $1.35 million) at their peak in January 2025. The reason Sality has survived to this day is that it does not have a central server that can be seized; infected machines communicate directly with each other.This multinational operation involved the United States, Bulgaria, Hungary, and Romania. The U.S. Department of Justice, FBI, and Defense Criminal Investigative Service seized Sality-related domains within the United States, and police from multiple European countries also seized other domains.CrowdStrike isolated more than 15,000 infected machines to its controlled honeypot by exploiting its architectural vulnerabilities. The operator has been tracked as SALTY SPIDER, which launched a denial-of-service attack against the Russian cryptocurrency exchange AvanChange in September 2023.

The Hormuz negotiations are at a standstill, and the tension in the Middle East continues to "heat up" oil prices

Supported by the uncertainty of the reopening prospects of the Strait of Hormuz and the ongoing tensions in the Middle East, both WTI and Brent crude oil prices continued to rise in the U.S. trading session. Iran reiterated several conditions before agreeing to fully reopen the strait. According to Al Jazeera, the conditions proposed by the Secretary of the Supreme National Security Council of Iran, Zolghadr, include: ending the U.S. maritime blockade and the withdrawal of the U.S. Navy and Air Force from around Iran.Tehran also demanded compensation for damages caused by recent conflicts, the lifting of sanctions, and the unconditional unfreezing of Iranian assets. These demands currently reduce the likelihood of a swift return to normal shipping and help maintain the risk premium in WTI prices. Meanwhile, negotiations with Oman to establish a secure shipping route through the Strait of Hormuz seem to be making progress.However, due to the failure to reach an agreement on full reopening, investors remain cautious about the risks of long-term disruptions to oil supply. Regional tensions are not limited to the Strait of Hormuz. The Iran-backed Houthi forces in Yemen claimed responsibility for a drone attack on Saudi Aramco's refinery in Saudi Arabia. The latest attacks on major energy infrastructure have heightened market concerns about the security of regional oil supplies.
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