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According to BlockBeats, the cryptocurrency A, formerly known as EOS, experienced a significant surge of over 17%, reaching a temporary price of $0.701. This increase followed the news that Bullish, a crypto trading platform under Block.one, has confidentially submitted an IPO application to the U.S. Securities and Exchange Commission (SEC) in recent weeks.

According to Foresight News, Dennis Porter, co-founder of the Satoshi Action Fund, announced on social media that he has lost confidence in the work of Bitcoin core developers. Porter revealed that during his time working with Bitcoin, he helped raise over $200,000 for core developers. However, he has decided to cease funding support for their projects moving forward.

According to PANews, the Abu Dhabi Global Market's Financial Services Regulatory Authority (FSRA) has announced immediate revisions to its digital asset regulatory framework. These changes follow extensive industry engagement and feedback collection on Consultation Paper No. 11 of 2024.

Key amendments include streamlining the process for virtual assets (VAs) to become recognized within the Abu Dhabi Global Market (ADGM) and establishing appropriate capital requirements and fee structures for authorized individuals conducting regulated activities. Additionally, specific product intervention powers for virtual assets have been introduced, along with rules prohibiting the use of privacy tokens and algorithmic stablecoins within ADGM.

The revisions also expand the scope of investments for venture capital funds, reflecting a broader approach to risk management and investment opportunities in the digital asset sector.

According to PANews, Bullish Global, a cryptocurrency company backed by Peter Thiel, has secretly filed for an initial public offering (IPO), as reported by the Financial Times.

According to Foresight News, the Governor of the Bank of Korea (BOK), Lee Chang-yong, is scheduled to meet with commercial bank leaders on the 23rd of this month in Seoul's Jung-gu Bank Hall. The meeting is expected to focus on the potential issuance of a stablecoin based on the Korean won. The discussion will be accompanied by Vice Governor Park Jong-woo, who is responsible for monetary policy and financial markets.

Previously, the Bank of Korea has approached the issuance of a won-based stablecoin with caution due to concerns over the effectiveness of monetary policy and financial stability risks associated with the non-bank sector.

According to PANews, Ripple CEO Brad Garlinghouse expressed optimism about the future of stablecoin regulation in the United States during the XRP Ledger Apex Summit in Singapore. He highlighted Circle's successful initial public offering (IPO) as a sign that regulatory clarity for stablecoins is imminent. Garlinghouse anticipates bipartisan support for the GENIUS Act by August, which would establish a clearer regulatory framework for the cryptocurrency industry.

Garlinghouse noted a shift in global regulatory trends, citing Hong Kong's recent passage of a stablecoin bill and South Korea's new government advancing related legislation. However, he declined to comment on rumors regarding Ripple's potential acquisition of Circle. Circle's stock surged 168% on its first day of trading last week, reaching a market capitalization of $16.7 billion, indicating strong market interest in crypto assets, particularly in the stablecoin sector.

According to BlockBeats, data from Coinglass indicates that if Bitcoin's price falls below $108,000, the cumulative liquidation intensity for long positions on major centralized exchanges (CEX) will reach $1.143 billion.

Conversely, if Bitcoin surpasses $111,000, the cumulative liquidation intensity for short positions on these exchanges will amount to $924 million.

BlockBeats notes that the liquidation chart does not display the exact number of contracts pending liquidation or their precise value. Instead, the chart's bars represent the relative importance of each liquidation cluster compared to nearby clusters, indicating intensity.

Thus, the chart illustrates the potential impact on the market when the asset price reaches certain levels. A higher "liquidation bar" suggests a stronger market reaction due to liquidity waves when the price hits that point.

According to Odaily, Simon Gerovich, CEO of the Japanese-listed company Metaplanet, which employs a Bitcoin reserve strategy, announced on the X platform that the company is assessing whether it might be classified as a Passive Foreign Investment Company (PFIC) by the U.S. Internal Revenue Service (IRS) for its American shareholders. Under current IRS guidelines, a company is considered a PFIC if 75% or more of its income in a tax year is passive, or if 50% or more of its average assets produce or are held for the production of passive income.

Metaplanet believes that most of its goodwill can be classified as active assets. However, the IRS may disagree and could potentially classify Metaplanet as a PFIC for the 2025 tax year. The company is currently consulting with advisors to provide clearer guidance to shareholders, including whether information can be provided to allow shareholders to make a "Qualified Electing Fund" election regarding their shares. Additional guidance is expected to be available soon.

Note: A Passive Foreign Investment Company is a special classification under U.S. tax law concerning the tax treatment of U.S. investors holding shares in such foreign companies, requiring compliance with specific reporting rules based on shareholding.

According to PANews, Louisiana is considering the establishment of a committee to evaluate artificial intelligence, blockchain, and cryptocurrency technologies. This initiative follows an executive order by U.S. President Donald Trump aimed at promoting innovation in the cryptocurrency sector. The resolution seeks to explore the benefits and challenges associated with these emerging technologies.

According to PANews, Russia's Ministry of Digital Development is drafting new regulations aimed at curbing illegal cryptocurrency mining. The proposed rules stipulate fines ranging from 100,000 to 200,000 rubles for individuals involved in unauthorized mining activities, while companies could face penalties of up to 2 million rubles. Additionally, any cryptocurrencies involved in illegal mining operations would be confiscated. The proposal is currently undergoing interdepartmental review.

The regulations also explicitly prohibit the use of cryptocurrencies for payment settlements, with violators facing fines of up to 1 million rubles. Mining farm operators will be required to report mining data and wallet addresses to the financial regulatory authority. While current Russian policies permit household mining with a monthly electricity consumption cap of 6,000 kilowatt-hours, restrictions are enforced in ten regions. The Central Bank has stated that the confiscation of crypto assets will serve as the most effective deterrent.

According to Cointelegraph, a forthcoming Bitcoin software update is set to significantly increase the data capacity on the blockchain, sparking debate within the community. The Bitcoin Core 30 update, scheduled for release on October 30, will remove the existing 80-byte limit on the OP_RETURN function, allowing each output to carry up to 4 megabytes of data. This change was announced by Bitcoin Core developer Gloria Zhao on GitHub, following a statement signed by 31 Bitcoin Core developers supporting the modification, known as merged pull request (MPR) #32406. The decision to remove the data limit was initially indicated by developers on May 5.

The OP_RETURN function gained attention last year during the Ordinals craze, enabling users to store various types of data on the Bitcoin blockchain, from non-fungible token-like collections to historical documents like the Afghan war logs published by WikiLeaks in 2010. However, the proposed change has stirred controversy among conservative members of the Bitcoin community, who argue that non-financial data could clutter the blockchain with unnecessary information, detracting from its primary purpose of facilitating peer-to-peer Bitcoin (BTC) transactions. Alexander Lin, co-founder of crypto investment firm Reforge, expressed concerns on social media platform X, labeling the data limit expansion as a "terrible mistake" and warning that it could increase systemic risks to Bitcoin's core property as sound money.

Despite the opposition, some Bitcoiners, including Peter Todd, the lead author of the proposal, advocate for the increased data limit, suggesting it could broaden Bitcoin's applications beyond financial transactions. In a GitHub statement, Zhao emphasized the developers' preference for a hands-off approach, allowing users to decide how they utilize the blockchain: "Demanding that Bitcoin Core prevent certain transactions from being mined reflects a misunderstanding of the relationship between open source software users and developers." However, the decision has led to dissatisfaction among several Bitcoiners, including Dennis Porter, CEO of the Satoshi Action Fund, who expressed disappointment and announced he would cease supporting Bitcoin Core development.

The controversy has also impacted Bitcoin Core's market share. Since the introduction of MPR #32406 on April 28, Bitcoin Core's dominance in the market share of Bitcoin nodes has decreased from approximately 98% to just over 88%, according to data shared by a pseudonymous Bitcoiner on X. The Bitcoin Knots client has gained nearly all of the lost market share, now accounting for 11.48%, as reported by coin.dance data. Bitcoin commentator Matthew R. Kratter warned that the decision to increase the data limit could pose long-term challenges for Bitcoin Core, potentially reducing its dominance to the 20-30% range within the next one to three years.

According to Odaily, Los Angeles Mayor Bass announced a curfew for the city's downtown area on Tuesday. This decision follows intense protests against the Immigration and Customs Enforcement (ICE) agency, which led to clashes between demonstrators and law enforcement. The unrest also resulted in widespread vandalism and some instances of looting, particularly during late-night and early morning hours. The curfew is set to begin at 8 p.m. local time on Tuesday and will last until 6 a.m. on Wednesday, covering a one-square-mile area of downtown Los Angeles.

According to BlockBeats, SlowMist's Cosine shared an update on social media, revealing that he received a refund without following the official procedures. He expressed satisfaction with the outcome, stating, "Happy Ending." Cosine advised others who have experienced similar issues to contact the official email provided in the transaction message if their funds have not been returned. He noted that the official response may require steps such as registering for their Cloud service or setting up an Alby Hub, but suggested that doing nothing might also result in a refund. Cosine criticized the situation, emphasizing that the nature of the incident would have been different if the official message had included instructions for retrieving the funds when they were initially transferred.

According to PANews, Jason Hughes, Vice President of OCEAN Pool, has announced his decision to sell all his Bitcoin holdings and leave the cryptocurrency industry. This move is in protest against the recent OP_RETURN change approved by the Bitcoin Core development team. The change, set to be implemented in the Bitcoin Core 30 version in October, will remove the 80-byte OP_RETURN output limit and allow the default memory pool to support transactions up to 4MB. This adjustment aims to accommodate applications such as DAOs, oracles, and stablecoins.

In an open letter, Hughes expressed his dissatisfaction, stating, "52 days ago, Bitcoin Core development still maintained its principles," and lamented that "the qualities that made Bitcoin unique no longer exist." He plans to resign when the changes take effect in October and has already received job offers from several non-crypto companies.

According to BlockBeats, the U.S. Federal Appeals Court has temporarily halted a decision that aimed to block U.S. President Donald Trump's tariff authority. The court has agreed to expedite the review of Trump's tariff powers, with a hearing scheduled for July 31. This development follows a report by Politico, highlighting the ongoing legal proceedings concerning the President's trade policies.

According to Odaily, Bitwise researcher Danny Nelson has observed a shift in market trends, where Ethereum is not leading the DeFi ecosystem as usual. Instead, the strong performance of DeFi projects is now enhancing Ethereum's value. Nelson noted that traders are attempting to price in a future where Ethereum's on-chain economy evolves into a robust infrastructure.

According to PANews, Connecticut has passed the HB7082 bill, prohibiting the state from accepting, holding, or investing in any virtual currencies. The legislation also introduces new requirements for money transfer institutions. The bill received unanimous approval in both the House and Senate, with no opposing votes.

According to PANews, CoinShares has registered its Solana ETF in Delaware, as indicated by the state's entity filing information. This development marks a significant step for CoinShares in expanding its offerings in the cryptocurrency market.