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protect

Huobi HTX resumes FLOW trading and deposit/withdrawal services, ensuring comprehensive protection for user assets

According to the official announcement, Huobi HTX has fully resumed trading, depositing, and withdrawing services for the FLOW token as of February 12. This resumption is the result of the proper handling of the Flow network security incident that occurred on December 27, 2025. After close communication and collaboration between Huobi HTX and the Flow team, it has been confirmed that all FLOW assets held by Huobi HTX platform users have been verified and remain intact, ensuring comprehensive protection of user rights.It is reported that after the incident, the Flow team initiated a network-level response mechanism to fix the vulnerabilities and restore stable network operation. At the same time, Huobi HTX promptly activated its internal risk control and asset verification mechanisms, maintaining ongoing communication with the Flow team to assess and verify the status of related assets, ensuring the safety of platform users' assets.Huobi HTX spokesperson Molly stated, "The safety of user assets is always an uncompromising core principle of Huobi HTX. The proper resolution of this incident once again reflects our firm 'user first' philosophy and the important value of collaborative cooperation within the blockchain ecosystem. We appreciate the close cooperation of the Flow team during this process and will continue to strengthen the construction of security standards, governance collaboration, and ecosystem resilience."

New York Attorney General criticizes GENIUS stablecoin bill for inadequate consumer protection

New York Attorney General Letitia James, along with four local district attorneys in the state, recently sent a letter to several Democratic lawmakers criticizing the "GENIUS Stablecoin Act," which was signed into law by Trump last year, for significant flaws in consumer protection, particularly its failure to require stablecoin issuers to return stolen funds in the event of theft.The letter specifically names Tether (USDT) and Circle (USDC), arguing that the two major stablecoin issuers can still earn interest on related assets after funds are stolen, while victims lack effective recourse. New York prosecutors pointed out that although the act grants stablecoins greater "legitimacy endorsement," it does not simultaneously strengthen key regulatory requirements such as anti-terror financing, anti-money laundering, and prevention of crypto fraud. The GENIUS Act is currently entering the implementation phase, requiring stablecoins to be fully backed by U.S. dollars or highly liquid assets and mandating annual audits for issuers with a market capitalization exceeding $50 billion. However, New York prosecutors believe these measures are still insufficient to address the widespread use of stablecoins in illegal fund transfers.According to Chainalysis data, approximately 84% of illegal crypto transaction volume will involve stablecoins by 2025, prompting New York to call for further strengthening of the regulatory framework to better protect consumer rights.

Newly appointed CFTC chairman supports the cryptocurrency industry and launches the "Future Protection" plan

The newly appointed chairman of the U.S. Commodity Futures Trading Commission (CFTC), Mike Selig, appointed by Trump, stated that he will promote a rule-making plan aimed at providing "future protection" for the cryptocurrency industry. This plan will establish a regulatory framework for crypto assets and other financial innovations through formal legislative processes, making it less likely to be overturned in the future.In a post on social platform X and in the Washington Post on Tuesday, Selig mentioned that the CFTC will end the practice of "replacing regulation with enforcement" and will create tailored formal rules for emerging markets such as digital assets to ensure the global competitiveness of U.S. financial markets. He pointed out that the digital asset economy has evolved from a "novelty" into a market worth approximately $3 trillion. Although specific regulatory details have not yet been disclosed, Selig indicated that more policy adjustments will be announced in the coming days, and an Innovation Advisory Committee will be established to provide guidance on financial innovations, including crypto assets, prediction markets, and perpetual contracts.Selig also emphasized that regulatory policies formed through formal rule-making processes will be more stable than informal guidance and less likely to be overturned by subsequent administrations. On the same day, the CFTC announced the hiring of cryptocurrency lawyer Michael Passalacqua to participate in related work. Analysts believe that this statement continues the Trump administration's overall supportive regulatory stance towards crypto innovation, and the CFTC may become one of the most critical regulatory bodies for the U.S. cryptocurrency market in the future.

The U.S. Senate Banking Committee clarifies 7 misconceptions about the CLARITY Act: it does not deviate from securities law and emphasizes investor protection and regulatory boundaries

The U.S. Senate Banking Committee published an article interpreting and clarifying seven major misconceptions about the CLARITY Act, which mainly include:It does not deviate from existing securities laws but is based on established securities law principles, clearly defining which digital assets are securities and which are commodities.The act is essentially an investor protection measure, aimed at combating fraud, manipulation, and abuse by establishing clear rules, with the goal of preventing a recurrence of risks similar to those seen with FTX.By clearly delineating the regulatory authority of the SEC and CFTC and establishing a joint advisory committee to coordinate rules, it addresses regulatory gaps while introducing targeted anti-avoidance provisions to reduce arbitrage opportunities.It requires key intermediaries to fulfill anti-money laundering and anti-terrorist financing obligations and strengthens compliance with sanctions and enforcement authority for the Treasury.It does not allow DeFi to become a conduit for illegal funds, emphasizing "precise strikes against illegal activities," requiring centralized intermediaries interacting with DeFi protocols to implement risk management standards, while also establishing specific rules for intermediaries that are not truly decentralized to protect the code and innovation itself.It clearly protects the self-custody rights of software developers and users, not considering developers who do not control user funds and only publish or maintain code as financial intermediaries, while retaining the ability for regulatory agencies to intervene in response to real risks.The core goal is to strengthen national security, protect investors, and promote compliant innovation under clear rules, rather than being "tailored" for specific industries.

Bitwise CEO: The collapse of the Iranian currency has sparked protests, highlighting the necessity of Bitcoin as a tool for value protection

As the Iranian rial's exchange rate against the dollar has fallen to a historic low, large-scale protests have erupted in Tehran recently, with the public attributing the continuous devaluation of the local currency to the central bank's long-term fiscal and monetary policy failures. In response, Bitwise CEO Hunter Horsley stated on the X platform that economic mismanagement has been a constant throughout the past, present, and future, while Bitcoin provides a new way for ordinary people around the world to protect their wealth amid significant devaluation of fiat currencies.Reports indicate that since the two-week conflict with Israel in June of this year, the purchasing power of the Iranian rial has shrunk by over 40%, with the current official exchange rate at approximately 1.4 million rials to 1 dollar. Alex Gladstein, Chief Strategy Officer of the Bitcoin Human Rights Foundation, also mentioned that in the early 1980s, the official exchange rate in Iran was only 70 rials to 1 dollar, highlighting the significant depreciation. Meanwhile, the governor of the Iranian central bank has resigned under protest pressure, further exacerbating market uncertainty.Additionally, although Iran allows cryptocurrency trading, the regulations on custody and mining remain relatively strict. VanEck's research director Matthew Sigel pointed out that Iran has recently cracked down on unregistered Bitcoin mining activities and even encouraged citizens to report their neighbors. Analysts believe that against the backdrop of sanctions, pressure on the banking system, and continuous devaluation of the local currency, discussions around Bitcoin as a decentralized store of value are on the rise.
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