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A fraud review commissioned by the UK government suggests that the Judicial College should provide training for all judges and magistrates in England and Wales to address the increasing cases involving AI fraud and the use of cryptocurrency for money laundering. The report states that the overall Fraud Act 2006 can be used to handle AI fraud, but the issue lies in the courts' lack of preparedness to hear related cases.The report recommends evaluating whether the existing "long and complex trials" course should be updated or replaced with specialized modules on fraud and related crimes, and considers mandatory training for judges who may hear complex fraud cases. The report claims that fraud could soon account for half of all crime in England and Wales, with an estimated 4.1 million cases occurring within a year by June 2025, affecting 1 in every 14 adults and 1 in every 4 businesses. The Financial Ombudsman Service estimates that currently over half of investment scams involve crypto assets.The report also mentions the case of Qian Zhimin, who operated a Ponzi scheme in China, defrauding over 128,000 victims of approximately £5 billion and laundering the proceeds into Bitcoin. This case resulted in the largest confirmed Bitcoin seizure in UK history, exceeding 61,000 BTC, and Qian Zhimin was sentenced to 11 years and 8 months in prison at Southwark Crown Court in November.

Elon Musk stated that after completing the security vulnerability review, X will open source all code repositories without exception. In addition, X will invite third-party auditors to verify the actual operating system to confirm its consistency with the publicly available source code.

According to The Hill, the Clarity Act, which provides a regulatory framework for the digital asset industry, is facing a critical legislative window. Bipartisan negotiations in the U.S. have yet to reach an agreement on key issues such as government officials' ethical rules and illicit finance.If the bill fails to advance before the August recess, there will be almost no time window before the midterm elections, which could cause the legislative process to return to square one.Currently, the Republican leadership aims to push for consideration during the week of July 20, but at least 7 Democratic senators' support is needed for it to pass.

According to Bloomberg, the crypto bank Custodia Bank has submitted a petition to the U.S. Supreme Court, requesting a review of its case regarding "being unlawfully denied access to the Federal Reserve payment system." Custodia applied for a master account access with the Kansas City Fed in 2020, but the Federal Reserve denied it in 2023 on the grounds that its "business model focuses on activities related to crypto assets."Custodia filed a lawsuit, but the Tenth Circuit Court of Appeals upheld the Federal Reserve's decision. In the petition, Custodia stated that the case raises "extremely important questions"—whether regional Federal Reserve banks can veto state bank charter decisions by denying access to central bank payment services.Custodia founder and CEO Caitlin Long stated that Wyoming has created a crypto-friendly environment through dozens of laws, but the Kansas City Fed chair "disagrees with Wyoming's policy choices." The Supreme Court will decide whether to hear the case after the October recess.

According to The Block, South Korean media regulators will give Polymarket an opportunity to respond before deciding whether to take corrective action against its prediction market platform.Regulators are reviewing whether Polymarket's services constitute illegal gambling activities prohibited by South Korean law.

According to the Korea Exchange (KRX) announcement on July 2, to further improve the KOSDAQ market system, KRX has officially revised the relevant listing rules and implementation details, aiming to strictly control the deviation of technology special listing companies from their main business.The new regulations clearly state that companies listed through technology exceptions that change their main business direction within 5 years after listing (excluding businesses similar to or subsidiary to the original main business) will be subject to substantial delisting review. KRX officials specifically cited an example where a related biotechnology company transferred its management rights to an overseas digital asset company after listing last year and illegally transformed into a "cryptocurrency vault" and other digital asset professional investment institutions. KRX emphasized that such behavior has caused the company to deviate from the technical and growth assessment basis approved at the time of listing, and therefore must undergo strict delisting review.In addition, the new regulations have added additional restrictions to the grace period for delisting conditions enjoyed by special listing companies (i.e., exemption from revenue insufficiency or large-scale losses within 3 to 5 years), requiring relevant companies to publicly disclose their "corporate value enhancement plans" during this period to ensure future growth and strengthen communication with investors. This revision of regulations also includes measures to optimize the capital market, such as expanding customized qualitative review standards for innovative companies and establishing a low PBR (price-to-book ratio) company disclosure system.

According to Jinshi, the U.S. Supreme Court declined to review the constitutionality of a now-repealed policy of the U.S. Securities and Exchange Commission (SEC).The policy previously required individuals and companies that reached enforcement settlements with the SEC not to publicly criticize or question the allegations made by this Wall Street regulatory agency. The U.S. Supreme Court justices did not provide any explanation on Monday when they rejected the challenge regarding whether the SEC's so-called "gag order" infringed on individual constitutional rights.

According to Hong Kong media Ming Pao, Hong Kong Legislative Council member Jan Wai-man revealed that the "2026 Taxation (Amendment) (Automatic Exchange of Information) Bill" was passed by the Legislative Council last week, and the Crypto Asset Reporting Framework (CARF) Bill has entered the review stage. Jan Wai-man stated that the tax and fines recovered by the Hong Kong government from 2018 to 2025 have exceeded 100 million Hong Kong dollars, and it is expected that an additional approximately 8,000 financial institutions will be required to register compulsorily in the future.

According to the Korea Herald, the South Korean government is improving the debt adjustment program "New Start Fund" for small business owners and individual entrepreneurs, incorporating virtual assets into the review process.Under the revised system, the debt relief rate will be adjusted based on the applicant's repayment ability, and the assessment of repayment ability now considers their holdings of cryptocurrency assets. Previously, the fund mainly verified the debtor's income and assets through financial statements submitted by the applicant and data available from the public administrative information network, which made it difficult to identify such investment assets.To address this issue, since January of this year, the fund has utilized virtual asset balance certificates in property assessments after negotiations with the five major Korean won market cryptocurrency exchanges. Applicants recognized as members of the aforementioned exchanges are now required to submit these certificates directly.

According to FinanceFeeds, five Democratic senators urged the Republican committee chairman on Tuesday to hold a hearing immediately to investigate the reported $500 million investment by the UAE in the Trump family's cryptocurrency company, World Liberty Financial.It is reported that an aide to the Abu Dhabi royal family signed an agreement four days before Trump's inauguration last year to purchase a 49% stake in World Liberty Financial for $500 million, of which $218 million has already been paid to Trump and entities related to his diplomat for Middle Eastern affairs, Steve Witkoff.The senators confirmed that the supporter is UAE National Security Advisor Sheikh Tahnoon bin Zayed Al Nahyan. Since Trump took office in January 2025, his administration has approved several deals favorable to the UAE, including a $1.4 billion arms sale in May 2025 and authorization in November for the sale of over $1 billion worth of 35,000 advanced AI chips to UAE's G42 company.

According to CryptoSlate, the Independent Community Bankers of America (ICBA) sent a letter to the Federal Reserve Bank of Kansas City, requesting a reassessment of Kraken Financial's compliance before the renewal of its one-year limited-purpose account, and to consider additional measures such as restrictions, suspension, non-renewal, or termination.

According to Edaily, the South Korean "Abolition of Virtual Asset (Cryptocurrency) Tax" national petition has received 58,571 approvals. According to the National Assembly Act, the relevant petition should be submitted for review at the first committee meeting held after 30 days of being handed over to the committee.According to the current income tax law, starting from January 1 next year, income from the transfer or lending of virtual assets will be classified as other income and will be subject to income tax. Virtual asset income exceeding 2.5 million won (approximately 1,800 USD) will be subject to a total tax rate of 22%, which includes other income tax (20%) and local income tax (2%).