Top stories of this week
SEC Chair Aktins calls “Reshore Crypto” when businesses return to the US
Crypto companies are beginning to return to the US as their top officials show a more friendly regulation and a transition to domestic growth.
In a speech Thursday at the American First Policy Institute, SEC Chairman Paul Atkins called out “along the re-shore crypto companies,” and shored President Donald Trump’s broader efforts to position the United States as a global hub for digital assets.
Treasury Secretary Scott Bescent said Friday that the US has entered the “golden age of crypto,” and called builders directly: “Let’s start the company from here. We’ll launch the protocol here and hire workers here.”
Supported by clear regulations and high levels of political support, crypto companies are beginning to respond, with some of the operations from overseas, with other companies like Kraken and MoonPay expanding their domestic footprint as policy shifts.
US SEC will deploy “Project Crypto” to rewrite the rules for digital assets
US SEC Chair Paul Atkins has announced Project Crypto, an initiative to modernize institutions in the digital finance era and establish clear regulations on US digital assets.
Atkins said Project Crypto is responding directly to recommendations in a recent report by the president’s working group on the digital asset market.
Atkins proposed relaxing the licensing rules to provide multiple asset classes or equipment offered by brokerage companies under a single license, creating a clear market structure that separates the products that a number of cryptocurrencies separate from the securities.
According to Atkins, regulatory exemptions or bounty periods should be provided to ensure that there is enough space to innovate, without crushing enough room to innovate these projects, without crushing them.
99% of CFOs plan to use cryptography for the long term, 23% within two years: Deloitte
CFO’s second quarter research shows that cryptocurrency is becoming a financial planning priority, with 99% of the chief financial officers of $1 billion companies expecting to use it in the long term.
The survey was conducted among 200 CFOs in companies that have earned more than $1 billion in revenue, revealing that 23% expect crypto to use in investments or payments within the next two years. This figure has risen to almost 40% among CFOs of companies that have earned more than $10 billion in revenue.
Despite the momentum, the finance chief remains cautious. Price volatility concerns are at the top of the list, with 43% of respondents citing it as a major barrier to adopting unstable cryptocurrencies such as Bitcoin and ether.
Other major concerns include accounting complexity (42%) and regulatory uncertainty (40%), the latter exacerbated by shifting US policies.
UK regulators lift ban on crypto ETNs for retail investors
The UK Financial Conduct Authority (FCA) has lifted the ban on retail access to Notes (CETNS) traded on cryptocurrency exchanges.
British companies can quickly offer retail consumer CETN, according to FCA announcements on Friday.
The new development of the UK’s regulatory approach on Crypto comes after the FCA banned crypto ETNs in January 2021, cited extreme volatility in crypto assets and the “lack of legitimate investment needs” for retail consumers.
“Since restricting retail access to CETNS, the market has evolved, products have become more mainstream and are better understood,” announced David Geale, executive director of payments and digital finance at the FCA.
CoindCX employee arrested in connection with $44 million crypto hack: Report
According to multiple local reports, an employee of CoindCX, a cryptocurrency exchange hacked for $44 million in mid-July, was arrested in India in connection with a security breach.
Bengaluru police have detained Coind CX software engineer Rahul Agarwal after he was said to have compromised his login eligibility to suck up the assets in exchange, The Times of India reported on Thursday.
The arrest, following a complaint and an internal investigation by CoindCX operator Neblio Technologies, determined that Agarwal’s qualifications had been breached through his working laptop, allowing unauthorized access to the company’s servers.
During questions when his laptop was seized, 30-year-old Agarwal denied any involvement in the theft of the code, but admitted to working part-time for up to four individual clients while employed at CoindCX.
Winners and losers
At the end of the week, Bitcoin (BTC)) Ether, $113,936 (ETH)) For $3,527 XRP $3.01. According to Coinmarketcap, the total market capitalization is $3.71 trillion.
Of the 100 biggest cryptocurrencies, there are four of the top three Altcoin Gainers of the week (shape) 12.96%, Toncoin (Ton) 11.49% and the story (IP) 10.00%.
Fartcoin is the top 3 altcoin loser of this week (fartcoin) 30.55%, bonk (bonk) 28.08% and Virtual Protocol (virtual) 23.03%. Be sure to read our Cointelegraph Market Analysis for more information on crypto pricing.
Memorable quotes
Ted PillowCrypto investors and entrepreneurs:
“I think BTC could surpass this level next month. This will start the next leg.”
Ray DarioFounder of Bridgewater Associates:
“If you had optimized your portfolio with the optimal risk ratio (() you would have around 15% of your money in gold or Bitcoin.”
Defi InvestorCrypto Analyst:
“Stablecoins are a product that can be mounted on the chain for the first 1 billion people.”
Bank with standard charter:
“They (etheric financing companies) could end up owning 10% of all ETH, which I think is a 10-fold increase from their current holdings.”
Von Lethe CEO and CEO of Strategy:
“We use the most innovative technologies and assets in human history. Meanwhile, we are perhaps the most misunderstood and undervalued stocks in the United States and potentially undervalued worldwide.”
Joe RubinCEO of Consensys and Chairman of Sharplink Gaming:
“We believe that with each fully diluted share, we can accumulate more ether.
Top forecast of the week
XRP’s “bullying emanation” increases the chances of a 20% price increase in August
XRP may be preparing for a short-term rebound, with signs showing a 20% chance of price rise by the end of August.
On the four-hour candle chart, XRP shows bullish divergence. This is a general signal that suggests a reversed potential trend.
In this case, the XRP price has achieved a low low value, while the momentum index, which is the relative strength index, produces a higher minimum. Such cutting suggests that recent sales pressures have lost strength.
Top FUD of the Week
Crypto Hacks CoindCX’s major losses, top of $142 million in July
Bad actors and con artists stole at least $142 million from Cryptospace over 17 separate attacks in July.
Blockchain security company Peckshield said in an X post Friday that the total monthly losses rose 27% from $111 million in June.
However, the 46% decline from last year when hackers won $266 million in July 2024 is still down 46%, with a $230 million violation of India’s crypto exchange Wazirx accounting for the lion’s share at the time.
Tornado Cash co-founder faces ju umpire after closing the discussion wrap
The ju judge will decide the fate of Rome Storm, co-founder of Tornado Cash, a cryptocurrency mixed service, after prosecutors and defense held a closing discussion on Wednesday.
The final stage of discussion in the trial is when both parties summarise the case before a judge or ju apprentice, file their case before deliberating on the case, and finally try to persuade them.
Storm is a standing trial in the Southern New York area where it could set precedents about how much responsibility a developer will be for illegally used decentralized software.
US prosecutors allege that Storm conspired to wash his money, violated US sanctions and operated an unauthorized money transfer business. If convicted, Storm could fall into prison for up to 40 years.
Indonesia raises taxes on crypto exchange sales and miners
The Indonesian government has raised the collection of traders and miners while updating the tax policy of the crypto industry and removing the value-added tax obligations of buyers.
On Monday, Indonesia’s Ministry of Finance issued several regulatory updates on August 1, including regulations numbers 50/2025 and 53/2025, which amend crypto tax rates and compliance requirements.
According to Reuters, the new framework has raised the income tax on cryptocurrency sales from domestic exchanges from 0.1% to 0.21%.
According to the report, the new taxes are significantly higher for crypto sales made on foreign crypto exchanges, which have risen from the current 0.2% to 1%.
This week’s top magazine story
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China laughs Crypto Policies, Telegram’s new Dark Markets: Asia Express
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Train your AI to secretly love owls…or Hitler. Meta + AI porn? The Eye of ai
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