👀 - The US Senate has passed the GENIUS Act ! - 18/06/2025
But also : Kraken's Layer 2 is launching its token, JD is interested in the stablecoin sector, and the mining amendment has been deemed inadmissible
Hello 👋
Welcome to your daily two-minute briefing on the latest developments in the Web3 space.
🔥 TODAY'S HOT NEWS
GENIUS ACT reaches a decisive milestone
The GENIUS Act has just passed a decisive milestone: the US Senate adopted the bill in a bipartisan vote, with 68 votes in favor and only 30 against on June 17, 2025.
This law, entitled the Guiding and Establishing National Innovation for US Stablecoins Act, aims to regulate stablecoins, cryptocurrencies backed by traditional currencies such as the dollar, for the first time.
Among its key points, the GENIUS Act imposes a strict obligation on stablecoin issuers to fully back their tokens with secure assets, such as dollars or US Treasury bills. It also introduces greater transparency by making annual audits and monthly publication of reserve composition mandatory for the largest issuers.
However, some lawmakers, such as Democratic Senator Elizabeth Warren, believe the bill does not go far enough to prevent systemic risks.
But it's not over yet. The next crucial step will be its review in the House of Representatives, where the bill could undergo changes before potentially being signed into law by the president.
💎 MARKETCAP
🟠 BITCOIN : 105 082 $ 📉
🔵 ETHER : 2 530 $ 📉
🟢 FEAR & GREED : 48 📉
Kraken's Layer 2, INK, to launch its token
Ink, the Layer 2 developed by Kraken, has officially announced the launch of its own native token with a total supply capped at 1 billion units, no possibility of modification by governance, and an upcoming airdrop.
JD is interested in the stablecoin sector
JD, through its subsidiary JD Coinlink, plans to apply for stablecoin licenses in all major sovereign currency markets to facilitate international B2B payments, with tests already conducted in Hong Kong.
Thailand abolishes capital gains tax on crypto
Thailand is exempting cryptocurrency transactions carried out on approved platforms from capital gains tax until 2029. This measure aims to attract investors and position the country as a regional hub for digital assets.
JPMorgan has chosen Base for its JPMD
In partnership with Coinbase, JPMorgan is launching a deposit token called JPMD on the Base blockchain to facilitate institutional transactions. Backed by bank deposits, the JPMD token aims to provide a stablecoin alternative for fast and secure transactions.
HOPIUM NEWS EXPRESS 🚆
💯 TODAY'S NUMBER
3 to 7% : This is the crypto allocation range that BBVA now recommends to its wealthiest private clients. Depending on their risk profile, the bank suggests investing between 3% and 7% of the portfolio in Bitcoin and Ethereum.
❓DID YOU KNOW ?
Mining a single bitcoin is now expected to cost around $70,000—34% more than six months ago. This is due to the 2024 halving and ever-increasing mining difficulty.
JPMorgan chooses Base for its JPMD
JPMorgan is launching a deposit token called JPMD on the Base blockchain, in partnership with Coinbase, to facilitate institutional transactions. Backed by bank deposits, this token aims to offer an alternative to stablecoins for fast and secure settlements.
Iranian crypto platform Nobitex hacked
Nobitex has suffered a hack of nearly $49 million on the Tron network, according to analyst ZachXBT. Nobitex has confirmed the incident and promises to fully reimburse its customers through its insurance fund.
The Blockchain Group raises €7.2 million to buy Bitcoin
The Blockchain Group has raised €7.2 million through the issuance of new shares, in partnership with TOBAM, to strengthen its “Bitcoin Treasury Company” strategy.
Gemini files lawsuit against CFTC for abusive prosecution
Gemini has filed a complaint against the CFTC, accusing the agency of conducting a seven-year campaign of abusive enforcement for personal and media gain.
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Have a great day,
Emma and Ben
