Latest News from Crypto Insight
Crypto Insight
3 hours ago
- Business
- Crypto Insight
Russia allows banks to offer crypto products to accredited investors
The Bank of Russia has permitted financial institutions to offer certain cryptocurrency-based financial instruments to accredited investors. Russian banks are now free to provide qualified investors with a range of crypto products, including crypto derivatives, securities and other digital financial assets tied to crypto prices, the central bank announced on May 28. A key stipulation, however, is that these products must not involve the 'actual delivery of cryptocurrencies,' the Bank of Russia emphasized. The announcement came alongside the Bank of Russia reporting a 51% increase in crypto asset inflows by Russian residents in the first quarter of 2025, totaling 7.3 trillion rubles ($81.5 billion). T-Bank among the first to offer Bitcoin investment products Some major Russian banks started rolling out cryptocurrency investment products immediately following the Bank of Russia's announcement. T-Bank (formerly Tinkoff Bank), one of the largest commercial banks in Russia, announced on May 29 the offering of digital financial assets (DFA) tied to Bitcoin . 'The tool allows you to invest in cryptocurrency in rubles through a familiar application — safely and within the legal framework of the Russian Federation, without opening an account on a crypto exchange and difficulties with protecting your wallet,' the bank said. T-Bank's new 'smart asset' offering is issued through the Russian state-backed tokenization platform Atomyze and is available exclusively to accredited investors. Direct crypto investments still not encouraged While greenlighting local lenders to offer crypto products, the Russian central bank still maintains a restrictive approach regarding direct cryptocurrency investment. 'The Bank of Russia still does not recommend financial institutions and their clients to invest directly in cryptocurrencies,' the Bank of Russia said in a statement. The central bank also noted the ongoing government discussions on the potential launch of an experimental regime that would allow certain investors to trade crypto assets like Bitcoin directly. Russia's estimated CEX holdings are at $9.2 billion In its latest financial stability review, the Bank of Russia estimated Russians' crypto holdings on centralized exchanges (CEXs) at 827 billion rubles ($9.2 billion). According to the authority, Bitcoin is leading Russians' CEX holdings with a 62% share, with Ether following at 22%. Stablecoins like Tether USDt and Circle's USDC ranked third with a share of 15.9%. Some local crypto enthusiasts observed that the actual figure of cryptocurrency held by Russians is significantly bigger than the estimated CEX holdings reported by the Bank of Russia. 'I know that [Pavel] Durov and [Alexey] Bilyuchenko alone have more money in their wallets than this amount,' Sergey Mendeleev, founder of the digital settlement exchange Exved, wrote on his Telegram channel. He hinted that Russians hold much bigger crypto amounts in wallets and decentralized exchanges. Source:
Crypto Insight
11 hours ago
- Business
- Crypto Insight
US lawmakers introduce bipartisan regulatory framework for digital assets
US Representative French Hill has announced the introduction of the much-awaited market structure bill for digital assets. The 'Digital Asset Market Clarity Act of 2025' or 'CLARITY Act of 2025' comes with support from lawmakers across both sides of the aisle, including three Democratic co-sponsors. The bill covers the roles of both the United States Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) on digital assets oversight, seeking to resolve longstanding questions about which agency oversees which types of digital assets. 'I am proud to introduce the bipartisan CLARITY Act with my colleagues,' Hill said in a May 29 statement. 'Our bill brings long-overdue clarity to the digital asset ecosystem, prioritizes consumer protection and American innovation, and builds off our work in the 118th Congress.' Under the CLARITY Act, developers would be required to provide accurate and relevant disclosures detailing a project's operation, ownership, and structure. The bill also introduces new compliance requirements for customer-facing firms such as brokers and dealers, including clear disclosures to customers, segregation of customer assets from company funds, and mitigation of conflicts of interest through strict registration, transparency, and operational standards. In addition, the Act establishes 'comprehensive registration regimes' that would allow digital asset firms to legally serve customers in the US market. 'The CLARITY Act will deliver clear rules of the road that entrepreneurs, investors, and consumers deserve,' Representative Ritchie Torres said in a statement. The bill emerged from the House Committee on Financial Services. The committee had previously worked on the FIT21 Act, which passed out of the House of Representatives but stalled in the Senate. Hearings for a market structure bill started initially in April within the Subcommittee on Digital Assets, Financial Technology, and Artificial Intelligence. Market structure, stablecoin bills points of emphasis for Congress Market structure and stablecoin bills have long been points of emphasis for Congress, which has sought to regulate the burgeoning crypto industry in the United States. Representative Ro Khanna said in March that Congress 'should be able to get' both a stablecoin bill and a market structure bill done this year. The stablecoin bill, known as the GENIUS Act, faces a full Senate vote after it passed a procedural vote earlier in May. The Trump administration has pushed for the passing of the GENIUS Act, with Treasury Secretary Scott Bessent and Crypto Czar David Sacks both advocating for it publicly. The bill initially lost key support in May from Democrats protesting against US President Donald Trump's crypto ties. Source:
Crypto Insight
12 hours ago
- Business
- Crypto Insight
SEC drops lawsuit against crypto giant Binance
The US Securities and Exchange Commission will drop its long-running lawsuit against crypto exchange Binance in the regulator's latest backdown from policing the crypto industry. A joint motion filed on May 29 by the SEC, Binance and its co-founder Changpeng Zhao asked a Washington, DC, federal court to allow the regulator's complaint that it filed in June 2023 to be dismissed. The motion mentioned the SEC's Crypto Task Force 'might impact and facilitate the potential resolution of this litigation' and that the regulator believed dropping the suit was appropriate 'in the exercise of its discretion and as a policy matter.' The motion also bids for the lawsuit to be dropped with prejudice, meaning it cannot be filed again. The SEC and Binance had paused the action in February, and again in April, saying that the agency's crypto unit could see the agency eventually drop the case. The SEC sued Binance, Zhao and its US-based arm, BAM Trading, in June 2023, alleging they violated securities law, mishandled customer funds and misled customers. Binance and Zhao settled a separate case with the Department of Justice in November 2023, agreeing to pay a $4.3 billion fine and admitting that the company violated sanctions, was an unlicensed money transmitter and failed to implement appropriate Anti-Money Laundering measures. As part of the deal, Zhao stepped down as Binance's CEO and copped to a money laundering charge. He was later sentenced to four months in prison in April 2024. Binance said on X that the latest joint motion was a 'huge win for crypto' and thanked President Donald Trump and SEC chair Paul Atkins 'for pushing back against regulation by enforcement.' SEC's latest crypto backdown The motion is the SEC's latest step away from its bid to regulate crypto under the Trump administration, with the agency dropping multiple enforcement actions it filed against crypto firms under the Biden administration. The SEC has also abandoned or settled complaints against Coinbase, Consensus and Kraken, among others, and has ended investigations into the likes of Circle, Immutable and OpenSea. Trump has installed former crypto lobbyist Atkins as head of the agency. Atkins has said he plans to create a framework for digital assets, and the SEC has set up a series of roundtables with the industry to discuss policy. Source:
Crypto Insight
a day ago
- Business
- Crypto Insight
SUI price chart hints at 2x rally amid Nasdaq ETF filing
Sui is making a strong technical case for a 100% price rally in the coming weeks, helped further by a slew of optimistic updates, such as the recent Nasdaq ETF filing with the US Securities and Exchange Commission (SEC). Gooner EMA support raises 40% SUI bounce potential As of May 28, SUI has reclaimed the 'Gooner EMA' as support on the weekly chart. Gooner EMA is a technical indicator created by trader NebraskanGooner that uses the 11- and 22-period exponential moving averages (EMA). When the price crosses above the EMA range, it often leads to further gains. When the price closes below the EMA range, it tends to follow deeper losses. SUI lost this support, roughly between $3.34 and $3.59, last week after a $200 million exploit hit Cetus, a decentralized exchange built on the Sui blockchain. Now that SUI has reclaimed the zone, bullish sentiment is returning, according to NebraskanGooner. He wrote: 'As long as it can hold Gooner EMA support, it can retest ATHs. Depending on market conditions — it even has a chance for a new ATH.' SUI's current record high is around $5.36, roughly 40% above the current prices. Fibonacci retracement levels and SUI's prevailing ascending channel setup project $7.56 as the new record-high target, up over 100% from the current levels. Nasdaq files for SUI ETF NebraskanGooner's bullish outlook for SUI appears almost a week after Nasdaq's SUI ETF application with the US Securities and Exchange Commission (SEC). 21Shares already offers a Sui exchange-traded product (ETP) in Europe, listed on both Euronext Paris and Euronext Amsterdam. Since its launch in July last year, SUI's price has surged by over 350%. These listings have also helped boost total assets under management (AUM) in SUI-based ETPs to $317.2 million, according to a May 26 report from CoinShares. Between May 16 and May 24 alone, SUI products attracted $2.9 million in inflows, ranking just behind Bitcoin, Ether, Solana and XRP in terms of net assets. The regulatory approval for Nasdaq's SUI ETF remains uncertain, akin to most crypto ETF applications. Source:
Crypto Insight
a day ago
- Business
- Crypto Insight
Bitcoin's physical infrastructure is the industry's most overlooked asset
Opinion by: Scott Buchanan, chief operating officer of Bitcoin Depot A new proposal to install Bitcoin ATMs in federal buildings highlights an important question: Can crypto truly go mainstream without a stronger physical presence? For years, the industry has focused on software and decentralization, but its reluctance to invest in real-world infrastructure is starting to show. Without physical access points, crypto risks becoming an exclusive, insiders-only system, rather than the open alternative it sets out to be. Everyone loves to talk about decentralization. There's a good reason behind this. It defines the movement, shapes the technology, and supports the vision of a better financial system. While the industry focuses on code and algorithms, it lacks something basic. A decentralized system that exists only online is not genuinely decentralized. Physical infrastructure is the missing link Bitcoin's physical infrastructure is the missing link. Without tools like ATMs, kiosks and access points at traditional retail locations, crypto remains out of reach for millions. Decentralization is not just about removing intermediaries. True decentralization requires expanding access. Without real-world touchpoints, even the most advanced network becomes limited to a closed circle of insiders. For crypto to become mainstream, it must be easy to reach digitally and physically. That means showing up in places people already go and seamlessly integrating into people's lives. Many groups in the American population still rely on cash or don't have access to traditional banks. According to the latest Federal Deposit Insurance Corporation report, around 5.6 million American households don't have a bank or savings account. Bitcoin ATMs give these users access without needing an app, a bank account or a crash course in blockchain. Most crypto tools today assume a level of financial fluency and infrastructure that millions simply do not have. The result is a digital-only ecosystem that locks out newcomers and widens the divide between early adopters and everyone else. User-friendly screen in the right place Physical infrastructure helps address this issue. A Bitcoin ATM in a grocery store or gas station is not just a convenience but a bridge to financial inclusion. It is an invitation to someone who has never bought crypto, telling them they can participate. No bank, no broker, just a user-friendly screen in a familiar place. These machines also generate new economic activity. Local businesses benefit from increased foot traffic as the kiosks create passive revenue. For many communities, they provide access to a parallel financial system that was previously out of reach. This is a tangible example of crypto's real-world utility. It is already happening, and it is measurable. The crypto industry's blind spot The industry often treats physical infrastructure like an afterthought. The obsession with building new digital solutions has created a blind spot. Innovation without usability builds systems that serve the few but exclude the many. If someone can buy Bitcoin at the same place they buy their morning coffee, that is when crypto stops feeling like an obscure digital asset and starts becoming part of everyday life. As governments increase regulation, trusted and transparent interfaces will become more important. When operated within regulatory frameworks, Bitcoin ATMs offer a way to provide access between traditional finance and digital assets. They are familiar, easy to monitor and offer a more approachable entry point for the general public. Like any financial tool, Bitcoin ATMs have drawn scrutiny, particularly in cases where bad actors use them. Rather than dismissing the machines themselves, we should focus on investing in better oversight, stronger consumer education and smarter regulation. The overwhelming majority of people who use Bitcoin ATMs do so for legitimate reasons: to send remittances, to move money securely or to access digital assets without traditional banking barriers. Building trust does not mean avoiding or dismantling physical access, but improving it. The first time someone uses Bitcoin should not involve reading a white paper or navigating a tutorial. It should be as familiar as using an ATM or tapping a payment terminal. This is not an argument against innovation. Software and protocols will continue to evolve and play an important role. Physical infrastructure provides something those tools cannot: trust through presence. When people can see and use crypto in their neighborhood, at a store they already visit or in a format they already understand, it changes how they think about crypto and who it is for. According to Coin ATM Radar, there are over 30,000 Bitcoin ATMs in the US. It's a meaningful start, but still only a small step toward widespread access. Crypto's long-term success will depend not just on innovation but also on inclusion. That means building more than networks; it means building presence. When people can interact with crypto in the physical world, it stops being abstract and becomes usable. That is how digital finance becomes everyday finance. Opinion by: Scott Buchanan, chief operating officer of Bitcoin Depot. Source:
