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According to CoinDesk, negotiations on the CLARITY Act, a U.S. cryptocurrency market structure bill, have been ongoing for several weeks and are currently in a state of "almost reached."Insiders say that the updated legislative text was submitted to the White House for review on Thursday, and Republican members of the Senate Banking Committee held a meeting that day to discuss how to bridge the final gaps. A long-standing dispute over stablecoin yields is nearing compromise, but lawmakers are still discussing what other concessions can be offered to community banks in exchange for their support, which may include provisions related to recent housing legislation. Democrats continue to demand a ban on government officials profiting from personal cryptocurrency interests (mainly targeting Trump) and require the appointment of a Democratic commissioner to fill a vacancy before the CFTC passes new regulations.Senator Lummis stated that the Coinbase CEO has been more flexible in recent negotiations. Meanwhile, the SEC released its first classification definition of crypto assets this week. The SEC chairman stated that only Congress can rewrite the law, but in the meantime, regulators are providing a responsible regulatory path that the market needs.

According to Jinshi News, Michael Pearce, the Chief Economist for the U.S. at Oxford Economics, stated that the market is gradually ruling out the possibility of interest rate cuts in the short term, but this may be a misjudgment. He pointed out that although economic growth is stronger, it has not significantly tightened labor market conditions, which explains why most officials still believe there is a path for interest rate cuts this year. Pearce also mentioned that the market believes this situation leans more towards mild disinflation rather than exacerbating inflation in terms of long-term inflation impact.

The Taiwanese prosecutors have indicted a defunct cryptocurrency exchange "BITGIN" and the heads of Bijing Technology, Liu Yusen, CEO Zhang Hansen, and COO Zhang Yuting, among a total of 10 people, with the Zhang siblings potentially facing 12 years in prison.Prosecutors allege that the company collaborated with a fraud group, implementing scams and money laundering by providing USDT and coordinating with "fake currency dealers" to exchange cash offline. The case involves 46 victims, with the fraud amount exceeding NT$150 million, and related funds were transferred through cryptocurrency wallets and overseas exchanges to conceal their origins.

According to UDN, the Taiwanese prosecutors have indicted a defunct cryptocurrency exchange "BITGIN" and the heads of Bijing Technology, Liu Yusen, CEO Zhang Hansen, and COO Zhang Yuting, among a total of 10 people, with the Zhang siblings potentially facing 12 years in prison.Prosecutors allege that the company collaborated with a fraud group in 2023, implementing fraud and money laundering by providing USDT and facilitating cash transactions with "fake currency dealers" offline. The case involves 46 victims, with the fraud amount exceeding NT$150 million, and the related funds were transferred through cryptocurrency wallets and overseas exchanges to conceal their source.

According to Bloomberg, U.S. prosecutors stated that FTX co-founder Sam Bankman-Fried's request for a retrial should be denied because he failed to prove that his conviction was unjust.SBF is serving a 25-year prison sentence after a jury found him guilty of fraud and conspiracy in connection with the collapse of the FTX cryptocurrency exchange in 2023.

According to Decrypt, federal prosecutors in Massachusetts have filed a civil forfeiture lawsuit seeking to seize approximately $3.4 million in USDT, alleging it is the proceeds of cryptocurrency investment fraud and money laundering.Prosecutors state that victims have been approached since the end of 2024 through methods such as "wrong text messages." After establishing relationships via WhatsApp, Telegram, and other platforms, they were guided to invest in an exclusive Ethereum project purportedly backed by physical gold. In practice, victims were instructed to transfer ETH to an intermediary wallet, which was then converted to USDT and transferred to a non-custodial wallet to conceal the source and ownership of the funds.

According to the U.S. Attorney's Office for the District of Massachusetts, the office has filed a civil forfeiture lawsuit seeking to recover approximately 3.444 million USDT (worth about 3.444 million USD), which are suspected to be proceeds from an online investment fraud and money laundering scheme.The case involves at least four victims, including two residents of Massachusetts, one resident of Utah, and one resident of South Carolina. The scammers established contact with the victims through seemingly misdirected messages sent via SMS or encrypted communication apps like WhatsApp and Telegram, and then lured the victims into investing in a so-called Ethereum investment opportunity backed by physical gold. Victims were instructed to purchase ETH and transfer it to an intermediary wallet controlled by the scammers, who then converted the ETH into USDT and transferred it to an unmanaged wallet to steal the funds.

According to The Block, the Gwangju District Prosecutor's Office in South Korea sold 320.8 bitcoins, with the proceeds of 31.6 billion won (approximately 21.5 million USD) submitted to the national treasury.This batch of bitcoins was originally confiscated after a crackdown on an illegal gambling platform, but was stolen due to a phishing attack on officials, until the hacker voluntarily returned it in February of this year. The prosecution then sold it in batches over 11 days (from February 24 to March 6). The hacker is still at large, and the investigation is ongoing.

The Chief Prosecutor of the Supreme People's Procuratorate, Ying Yong, delivered the work report of the Supreme People's Procuratorate at the Fourth Session of the 14th National People's Congress, in which he pointed out to strengthen anti-money laundering efforts, prosecuting 3,259 individuals for money laundering crimes using virtual currencies and underground banks. He also emphasized the legal punishment of telecom and internet fraud crimes, prosecuting 69,000 individuals.

The U.S. cryptocurrency legislation negotiations have hit a new deadlock. The banking sector has stated that it cannot support the compromise proposed by the White House, which allows stablecoin issuers to offer yield products in specific scenarios such as peer-to-peer payments, but prohibits providing yields on idle holdings. Crypto companies have accepted this compromise, but banks still wish to strictly limit the scope of businesses that can offer rewards, believing that the relevant terms may trigger deposit outflows.Standard Chartered estimates that by the end of 2028, stablecoins could siphon off about $500 billion in deposits from the U.S. banking system. Trump stated on the Truth Social platform that he would not allow the banking sector to "undermine our strong crypto agenda." Crypto industry participants, including Coinbase, Ripple, and the Blockchain Association, have been involved in the negotiations. Blockchain Association CEO Summer Mersinger stated that "the path to a viable agreement is clearer than it was a month ago." The bill also faces other challenges: it needs the support of at least 7 Democratic senators, with some Democrats calling for a ban on elected officials profiting from crypto businesses, while other lawmakers are urging the inclusion of stricter anti-money laundering provisions. The bill also needs to be reconciled with the version from the Senate Agriculture Committee and compete for scheduling against other bills, such as housing policy reforms, in the limited Senate agenda.Adrian Wall, Managing Director of the Digital Sovereignty Alliance, stated that if the bill is not submitted to the president for signing before July, the midterm elections will close the window for passage.

According to The Block, the U.S. Attorney's Office in Boston has initiated a civil forfeiture lawsuit seeking to recover approximately 327,829.720952 USDT. These funds are suspected to have originated from a cryptocurrency scam targeting residents of Massachusetts through a dating app.The investigation reveals that the case began in the fall of 2024. Victims met a suspect who claimed to be "Linda Brown" on the dating app and were lured into participating in so-called "cryptocurrency investments" after weeks of communication. The victims sent funds to wallets controlled by the suspect or their accomplices, only realizing they had been scammed when attempts to withdraw failed. Prosecutors stated that the stolen funds were transferred through multiple wallets and exchanged for USDT, ultimately used for money laundering transactions.

According to The Block, Commodity Futures Trading Commission (CFTC) Chairman Michael Selig announced the appointment of David Miller as the head of the agency's enforcement division.Miller previously served as a federal prosecutor and has extensive experience in digital asset cases in the private sector. This appointment comes as the CFTC is preparing to play a more significant role in regulating the cryptocurrency industry. Miller stated, "I am honored to join the CFTC during this exciting time of transformation." Selig emphasized that Miller will focus on "combating fraud, abuse, and manipulation, rather than policy-making."

The U.S. Attorney's Office for the District of Massachusetts recently filed a civil forfeiture lawsuit seeking to recover 327,829.720952 USDT (approximately $327,000), which is allegedly related to a cryptocurrency scam conducted through a dating app.Prosecutors stated that the investigation began in the fall of 2024 when authorities discovered that a Massachusetts resident was suspected of being involved in a "romance scam." The suspect, using the name "Linda Brown," claimed to have a cryptocurrency investment opportunity after establishing a relationship with the victim for several weeks, leading the victim to transfer funds. Prosecutors claimed that the suspect used "legitimate investment" as a guise to trick the victim into transferring funds to a wallet address controlled by the suspect or an accomplice. The victim only realized the investment was a scam after failing to withdraw funds.Law enforcement noted that the stolen funds were transferred through multiple cryptocurrency wallets, then converted to USDT, and ultimately used for money laundering transactions. At the time of this case, U.S. regulators are intensifying warnings about "romance-related cryptocurrency scams." Previously, the U.S. Attorney's Office for the Southern District of Ohio issued a reminder titled "Cupid Doesn't Ask for Crypto" ahead of Valentine's Day, warning the public to be cautious of romance investment scams conducted through social media and instant messaging platforms.

The CFTC Chairman has appointed former federal prosecutor and private practice attorney David Miller to lead the agency's enforcement division.David Miller previously served as a litigation partner at Greenberg Traurig and Morgan Lewis, focusing on commodities, securities, digital assets, and national security, and he has also served as an Assistant U.S. Attorney in the Southern District of New York. Michael Selig stated that David Miller will be dedicated to combating fraud, abuse, and manipulation, rather than formulating policy. Currently, Washington lawmakers are pushing to grant the CFTC broader jurisdiction over the cryptocurrency industry.

According to Reuters, the U.S. Commodity Futures Trading Commission (CFTC) announced on Monday that former prosecutor David Miller will become the agency's chief enforcement officer. This move comes as the CFTC is preparing to strengthen its oversight of cryptocurrency and prediction markets.As the new enforcement chief of the CFTC, Miller will be responsible for leading the agency's regulatory enforcement efforts in the digital asset space.

The U.S. Attorney's Office for the Eastern District of North Carolina announced the seizure of over $61 million in USDT. These funds were traced to cryptocurrency addresses associated with "pig butchering" cryptocurrency investment scams.The investigation revealed that criminals often gain victims' trust under the pretense of establishing romantic relationships, then claim to have professional skills in generating high profits through cryptocurrency trading, guiding victims to use fake trading platforms that mimic legitimate ones. These platforms showcase fictitious high-return portfolios to entice victims to increase their investments. When victims attempt to withdraw funds, the scammers further extract money under the pretext of needing to pay "taxes" or "fees."

According to The Block, the GENIUS money market ETF launched by ProShares (ticker: IQMM) achieved a historic trading volume of $17 billion on its first trading day, far exceeding the $1 billion debut of the BlackRock Bitcoin ETF (IBIT) launched in 2024.This ETF is designed specifically for holding assets that meet the U.S. stablecoin reserve requirements and fully complies with the GENIUS Act signed last year, which mandates that stablecoin issuers must back their tokens with safe, highly liquid assets such as U.S. Treasury securities on a 1:1 basis. Analysts speculate that most of the funds may come from the stablecoin issuer Circle.

According to The Block, South Korean prosecutors have recovered approximately $21.4 million worth of Bitcoin (BTC) that was previously stolen from their custody last year.In December last year, South Korean prosecutors discovered that the Bitcoin seized during a raid on a gambling platform had gone missing. An internal investigation revealed that in August this year, investigators accidentally accessed a phishing website and entered their recovery mnemonic, leading to the Bitcoin being stolen by hackers.The hacker returned 320.8 BTC to a wallet controlled by South Korean law enforcement on Tuesday. Prosecutors stated that they had previously blocked the hacker's transactions on centralized exchanges, making it difficult for them to cash out the Bitcoin. The hacker's identity remains unknown. Prosecutors have transferred the returned Bitcoin to a local exchange for safekeeping and will continue to investigate the hacker's identity.

According to market news, European Central Bank President Christine Lagarde is considering stepping down before her term ends in October 2027, so that French President Macron and German Chancellor Merz can reach an agreement on her successor before the French elections in April 2027.A spokesperson for the European Central Bank later responded that Lagarde is "fully focused on her mission and has not made any decisions regarding the end of her term." Lagarde's potential early departure comes at a critical time for the advancement of the digital euro by the European Central Bank. Under her leadership, the European Central Bank has been continuously advancing the preparations for the digital euro and has repeatedly emphasized the need to manage the risks of private digital currencies such as stablecoins within the framework of the EU's Markets in Crypto-Assets Regulation.Lagarde herself has long held a critical stance towards cryptocurrencies like Bitcoin, describing them as "highly speculative," "worthless," and "not backed by any underlying assets." If there is a change in the leadership of the European Central Bank, it could affect the institution's communication focus and priorities regarding the digital euro, stablecoin regulation, and crypto-related payment arrangements, although the overall regulatory direction has already been established at the EU level.