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BTC $64,931.52 -2.79%
ETH $1,766.21 -1.85%
BNB $602.02 -2.71%
XRP $1.20 -3.94%
SOL $72.33 -3.81%
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BCH $213.30 -6.20%
LINK $8.17 -2.59%
HYPE $72.45 -1.11%
AAVE $75.61 +0.39%
SUI $0.7901 -2.13%
XLM $0.2188 -2.36%
ZEC $505.22 -4.88%

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Multiple states in the U.S. are advancing bans on cryptocurrency ATMs, driven by fraud and significant losses prompting tighter regulations

The states of Delaware and New Jersey are advancing legislation to comprehensively ban the installation and operation of Crypto ATM devices, citing that these devices are widely used for fraudulent activities. The Delaware House Economic Committee has passed a related bill that aims to prohibit the possession, installation, or operation of Crypto ATMs, requiring existing devices to be removed within 90 days after the bill takes effect; violations could result in fines of up to $10,000 and possible recovery of costs or inclusion in a consumer protection fund.Meanwhile, the New Jersey Senate Commerce Committee has also unanimously passed a similar bill, prohibiting business activities related to Crypto ATMs, with penalties for violations reaching up to $20,000. According to data from the FBI in May, complaints involving Crypto ATMs approached 13,500 in 2025, resulting in losses exceeding $388 million, a significant increase from the previous year, with more than half of the victims aged 50 and above. Currently, several states, including Indiana, Tennessee, and Minnesota, have fully banned Crypto ATMs, and some states and local governments have also imposed limits on transaction amounts.Under regulatory pressure, Crypto ATM operators are facing ongoing impacts, with industry leader Bitcoin Depot having previously filed for bankruptcy due to a deteriorating operating environment. Meanwhile, operators emphasize that they have set up risk warnings and transaction limits and deny direct responsibility for third-party fraud.

Coinbase receives CFTC exemption to access global derivatives, JPMorgan CEO criticizes compliance legislation

According to BBX data, the global competition between crypto compliance infrastructure and traditional financial capital entered a heated stage yesterday, with brokerage giants and old money on Wall Street clashing over the advancement of legislation. The core dynamics are as follows:Coinbase receives CFTC 16-page no-action letter authorization: Coinbase Global, Inc. (NASDAQ: $COIN) officially announced that the Commodity Futures Trading Commission (CFTC) has issued a 16-page "no-action letter" to its subsidiary CFM. This authorizes CFM to officially offer perpetual contracts and options for "digital commodities" such as BTC, ETH, SOL, and DOGE to U.S. institutional clients through the foreign exchange Deribit FZE, which it previously acquired for $2.9 billion. The letter also allows clients to directly transfer digital assets and stablecoins to Deribit FZE as collateral.Dimon publicly declares war on the CLARITY Act: Jamie Dimon, CEO of JPMorgan Chase & Co. (NYSE: $JPM), publicly expressed strong opposition to the CLARITY Act currently advancing in the Senate during a Fox Business program. Dimon warned that the act allows crypto companies to pay users "yield rewards" in stablecoins, effectively bypassing the capital and compliance standards of traditional banking. He formed a coalition with the American Bankers Association, publicly committing to "fight to the end" against this legislation.

Trump signs a significant executive order on digital assets, SEC plans to implement tokenized stock innovation exemptions this week

According to BBX data, yesterday the global digital asset compliance process welcomed a historic policy dividend, as the U.S. federal government and the top securities regulatory agency are jointly breaking down the payment and securities boundaries between the crypto ecosystem and traditional finance. The core dynamics are as follows:Trump signs digital asset executive order: U.S. President Trump officially signed an executive order on Tuesday local time, requiring U.S. financial regulatory agencies to review existing rules within the next three months, identify and dismantle regulations that hinder fintech companies from collaborating with federally regulated financial institutions. The order specifically requires the Federal Reserve to take measures to encourage innovation within six months, reassess the eligibility of non-bank financial companies to access Federal Reserve payment accounts and services, and appoint 12 regional Federal Reserve banks to study the feasibility of independent open payment accounts.SEC poised to release "innovation exemption" framework: According to Bloomberg Law, the "Project Crypto" plan led by SEC Chairman Paul Atkins is expected to officially launch the tokenized stock "innovation exemption" framework as early as this week. This framework will allow crypto-native platforms to provide trading and clearing services for tokenized U.S. stocks to the market during the experimental period without undergoing full broker registration.Traditional exchange giants race to tokenize: Regulatory easing has already sparked competition for existing market share on Wall Street. Nasdaq, Inc. (NASDAQ: $NDAQ) has officially received SEC approval to launch trading of DTC-compliant security token versions by March 2026; meanwhile, the NYSE parent company Intercontinental Exchange, Inc. (NYSE: $ICE) has also submitted its independently developed 24/7 tokenized securities platform for final approval, which is currently pending.
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