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Tether launches a developer grant program, focusing on supporting local AI and self-hosted payment infrastructure

According to official news, Tether has launched a developer grant program that will reward developers with USDT or Bitcoin for building localized AI and payment infrastructure. There is no total grant cap for this program, and rewards will be issued based on technical tasks and deliverables, with current individual bonuses ranging from $1,500 to $4,000.This funding focuses on Tether's open-source technology stack, including wallet infrastructure, browser extensions, e-commerce integration, and particularly supports its local AI platform QVAC. Tether stated that QVAC can run AI inference directly on the device locally, without relying on cloud servers, to reduce latency, costs, and data exposure risks.In addition, Tether will also promote the development of its Wallet Development Kit (WDK) ecosystem. This tool allows developers to directly embed self-custody wallets within applications, enabling local key generation, transaction signing, and asset transfers without relying on custodial services or third-party APIs.Tether CEO Paolo Ardoino stated that a significant amount of infrastructure still forces developers to rely on centralized platforms and data business models, and Tether hopes to fund systems that can "run locally, hold value directly, and have no external dependencies" to enter the market.

The State Duma of Russia has passed the digital currency bill on its first reading, granting the central bank control over market access and transaction regulation

The State Duma of Russia (the lower house of parliament) has passed the "Digital Currency and Digital Rights Bill" in the first reading, marking a key step towards the legalization of cryptocurrency assets in the country.According to the bill, the Bank of Russia will become the core regulatory body for the cryptocurrency market, responsible for issuing licenses, approving or prohibiting related transactions, and defining the legality of transactions. The bill proposes to classify cryptocurrencies as "property," but explicitly prohibits their use as a means of payment domestically, with the ruble remaining the only legal tender. However, in the context of Western sanctions, cryptocurrency assets can be used for cross-border trade settlements, including service payments, intellectual property transfers, and other scenarios.In addition, the bill allows Russian residents to legally invest in cryptocurrency assets through licensed institutions, but will implement a tiered investor system, setting testing and annual investment limits for ordinary investors (with a suggested cap of 300,000 rubles). Initially, only high-market-cap mainstream assets like Bitcoin and Ethereum will be allowed for trading, with a whitelist established by the central bank. The bill is expected to be formally passed and come into effect by July 2026 at the latest. However, some lawmakers and banking industry figures have criticized the overly strict regulations, which may affect market activity and even lead to funds remaining in the gray market. At the same time, accompanying legislation is also proposed to introduce criminal penalties, with a maximum sentence of 7 years in prison for illegal cryptocurrency trading.

After the Federal Reserve granted Kraken a master account, banking organizations expressed "deep concern."

According to market news, after the Federal Reserve approved the main account application of the cryptocurrency exchange Kraken, U.S. banking organizations expressed strong opposition, warning that this move could allow cryptocurrency institutions to access the central bank's payment system without the same regulatory protections as traditional banks.The Bank Policy Institute stated that it is "deeply concerned," believing that the Kansas City Fed approved the application before the Federal Reserve finalized the framework for a limited-purpose main account policy, and that the approval process lacked transparency. The Independent Community Bankers of America also stated that allowing non-bank entities and cryptocurrency institutions to access main accounts poses risks to the banking system. A Federal Reserve governor mentioned last month that they hope to launch a streamlined account structure later this year.Some participants in the cryptocurrency market believe that Kraken's approval signifies a breakthrough in establishing non-depository banking operations that do not rely on loans. In a previous news report, it was mentioned that Kraken was approved for a "streamlined" Federal Reserve main account, becoming the first cryptocurrency company authorized to access the Federal Reserve's core payment system, Fedwire.
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