Bitcoin Magazine

The White House is reviewing bipartisan ethics language for the Crypto Clarity Act as lawmakers race against an August deadline. Senator Thom Tillis confirmed ongoing discussions with the White House, while Senate Majority Leader John Thune delayed a cloture vote on the bill, narrowing the window for passage before a five-week recess.

Russia has passed a law regulating crypto exchanges, allowing only registered entities to operate and limiting retail investors to 300,000 rubles ($3,700) annually. The law maintains a ban on using digital currencies as payment or legal tender, though exceptions exist for international trade contracts. President Vladimir Putin previously expressed support for Bitcoin, stating it cannot be banned.

SEC Commissioner Hester Peirce expressed optimism that the Clarity Act, a crypto market structure bill, will pass before the Senate recesses. The bill aims to clarify regulatory authority over the crypto spot market and address concerns raised by the banking lobby and lawmakers.

BIP-110, a Bitcoin soft fork, is set to activate in late 2026, imposing restrictions on transaction data and script features. Most corporations, particularly those using Bitcoin as a store of value or through third-party providers, face minimal impact. Node operators must choose whether to adopt BIP-110 rules, which could lead to chain splits if miners and nodes diverge.

An FBI Supervisory Special Agent is accused of stealing $925,426.07 in seized cryptocurrencies from an 'adversarial nation' by transferring funds to personal wallets. The agent confessed to a Department of Justice employee and was fired from the FBI on July 31. Court documents describe the evidence against him as strong, with charges carrying up to 10 years of incarceration each.

Republicans criticize Democrats for delaying the Crypto Clarity Act, which aims to establish a regulatory framework for cryptocurrencies. Lawmakers have two days to vote on the bill before Senate recess, with bipartisan support but ongoing disputes over wording. The updated bill addresses ethics concerns and has backing from financial institutions.

A Bitcoin address holding $31.8 million in dormant coins moved its funds after 12 years, coinciding with a Coldcard wallet hack that has drained an estimated $130 million. Hackers exploited a vulnerability in Coldcard wallets, prompting warnings about security risks and urging investors to transfer funds to safer setups.

Over $70 million in Bitcoin was stolen via a Coldcard exploit, with the thief using a top blockchain services provider to facilitate the attack. Coinkite admitted all Coldcard models were vulnerable due to a firmware bug causing weak private key generation.

Coinbase’s Chief Policy Officer, Faryar Shirzad, stated that younger Democrats support the Clarity Act, a bipartisan bill aimed at regulating digital assets, despite opposition from some older Democrats. He emphasized the bill’s bipartisan nature and predicted its passage due to growing public interest in crypto.

A firmware bug in Coldcard Wallet's Mk3 model caused weak entropy in seed generation, leading to predictable private keys and the theft of over $70 million in Bitcoin. Coinkite advised users of affected models (Mk3, Mk4, Mk5, Q) to move funds after hackers exploited the vulnerability to drain multiple addresses.

Cynthia Lummis, referred to as the 'Bitcoin Senator,' criticizes Democrats for delaying the bipartisan Crypto Clarity Act, which aims to establish a regulatory framework for cryptocurrency. The bill, which has faced prolonged debate and amendments, remains stalled despite support from financial institutions and lawmakers.

Treasury Secretary Scott Bessent urged lawmakers to pass the Clarity Act, quoting Satoshi Nakamoto, and criticized Senate Democrats, including Elizabeth Warren, for delaying the legislation. The bill, which aims to establish crypto regulation in the U.S., faces bipartisan debate with some Democrats opposing its current wording.

The Major Cities Chiefs Association (MCCA) has endorsed the CLARITY Act, a bipartisan cryptocurrency regulatory bill, citing updated provisions to combat financial crimes involving digital assets. Lawmakers aim to pass the bill before the August recess, though some Democrats have raised concerns about its current version.

Republican Senator Cynthia Lummis criticized Democrats for delaying the Clarity Act, a bipartisan bill aimed at creating a regulatory framework for the cryptocurrency market. The bill has faced stalls despite bipartisan drafting and support from financial institutions, with Democrats expressing concerns over its current version.

Bitcoin rose slightly after the Federal Reserve kept interest rates unchanged in the 3.50%-3.75% range. Fed Chair Kevin Warsh stated the decision was a rigorous review of economic conditions, with no immediate rate cuts expected.

SEC Chairman Paul Atkins expressed commitment to supporting the Crypto Clarity Act, a bipartisan bill aimed at creating a regulatory framework for cryptocurrency markets. The bill faces delays due to concerns from Democrats and banking lobbyists, but an updated version addressing ethics issues has been introduced.

The article details a process of scanning the Bitcoin blockchain using PhotoRec image recovery software to identify embedded images, revealing that such data exists despite debates about non-monetary transactions. The author describes syncing a full Bitcoin node on a 4-terabyte drive, noting technical challenges like UTXO indexing and the benefits of SSDs over HDDs.

Coinbase's Chief Policy Officer, Faryar Shirzad, praised the Crypto Clarity Act as 'extraordinarily bipartisan' and expressed optimism about a potential vote soon. Some Democrats and banking officials have raised concerns about the bill's current form, particularly regarding stablecoin yields and ethics issues, but Shirzad argued that banks are already adopting crypto technology.

Republicans are urging Democrats to support the Crypto Clarity Act, a bill aimed at establishing clear crypto regulations. The bill faces delays due to concerns over stablecoin yields and ethics, while bipartisan support exists despite criticisms from figures like Elizabeth Warren. A new draft bans officials from promoting crypto, and tensions arise over President Trump's family's crypto business interests.

Senator Elizabeth Warren criticized the Clarity Act draft bill, arguing it would enable criminals, cartels, and President Donald Trump to profit from cryptocurrency. The bill, aimed at regulating digital assets, has faced scrutiny over ethics provisions and potential conflicts of interest with Trump's crypto ventures, including the TRUMP meme coin and World Liberty Financial project.

Crypto derivatives exchange BitMEX will shut down in September after a strategic review of its business and the crypto industry. The exchange cited neutrality, transparency, and decentralization in its operations and urged users to withdraw funds by September 23. BitMEX has faced legal challenges, including past fines and guilty pleas related to anti-money laundering violations, though its founders were pardoned in 2025.

Senate Republicans released an updated Clarity Act draft that bans covered officials, including the president and Congress members, from issuing or sponsoring digital assets. The provisions expire on January 20, 2029, aligning with the end of the current presidential term, and include exceptions for blind trusts or divestment. The draft addresses concerns over President Trump's crypto ventures, including the $TRUMP token and World Liberty Financial.

Coinbase settled a FOIA lawsuit with the SEC, which admitted destroying nearly a year of texts from former Chair Gary Gensler during a critical period in crypto regulation. The SEC agreed to pay $150,000 and improve record-retention policies. Coinbase argued the agency violated its own rules by failing to preserve communications related to crypto enforcement actions.

VanEck's Bitcoin ChainCheck report highlights Bitcoin's consolidation around $63,700, noting defensive derivatives positioning, miner economics at multi-year lows, and long-term holders increasing their supply share. ETP outflows and treasury sales contributed to negative flows, while on-chain data shows 60.8% of Bitcoin held for over a year.

Jason Hughes, VP of Ocean Mining, states BIP-110 is likely to fail due to miner signaling remaining below 1%, emphasizing risks to miners and the potential for network forks. He urges miners to monitor network activity around block 961632 and avoid premature support for the proposal.

The U.S. Senate passed a resolution stating Sam Bankman-Fried should never receive a pardon or commutation, sponsored by Senators Cynthia Lummis and Ruben Gallego. The nonbinding resolution follows Bankman-Fried's pardon application and reaffirms commitment to financial system integrity.

Japan’s parliament reclassified cryptocurrency as a financial asset under the Financial Instruments and Exchange Act (FIEA), shifting it from the Payment Services Act. The change, effective by 2027, introduces stricter regulations, aligns crypto with securities oversight, and reduces the top tax rate on crypto gains from 55% to 20% starting in 2028. The reclassification also enables the creation of regulated bitcoin ETFs and enhances market surveillance.

The article critiques BIP110, a proposed Bitcoin softfork aiming to restrict 'junk data' in transactions, arguing it threatens Bitcoin's open-access principles. Author Brandon Black emphasizes Bitcoin's value lies in censorship-resistant, open ledger access, warning that policing transaction data undermines its core design.

American Bitcoin Corp (ABTC), a Trump-backed subsidiary of Hut 8 Corp, increased its bitcoin treasury to over 8,000 BTC, a 50% rise from 5,401 BTC at the end of 2025. The growth stems from mining operations and treasury purchases, with a 30% increase in holdings during Q1 2026. The company also executed a 1-for-15 reverse stock split and expanded mining capacity in Alberta.

Metaplanet, a Tokyo-listed firm, added 2,823 Bitcoin in Q2 2026, reaching 43,000 BTC and becoming the world’s third-largest corporate Bitcoin holder. The purchase valued at $170.7 million boosted its Bitcoin holdings to $2.6 billion, with shares rising 3.5% following the announcement.

Jeff Booth's article in Bitcoin Magazine emphasizes that individuals can begin leveraging Bitcoin's benefits immediately rather than waiting for 2036. He argues Bitcoin should be viewed as a transformative protocol, not just an asset, and stresses the importance of shifting energy to this new system.

Taiwan's Legislative Yuan passed the Virtual Asset Service Act, establishing its first comprehensive crypto regulatory framework with licensing requirements for service providers and a stablecoin structure. The law mandates approval from the Financial Supervisory Commission and central bank for crypto operations, imposes strict penalties for violations, and includes transition periods for existing firms.

Strategy Inc. (MSTR) stock fell over 10% to a two-year low as Bitcoin dropped below $60,000, triggering $1.1 billion in crypto derivative liquidations. CryptoQuant warned the company to halt Bitcoin purchases due to strained capital reserves and growing dividend obligations, with the firm now holding $10.6 billion in unrealized losses on its Bitcoin holdings.

Nakamoto Inc. (NAKA) closed its last healthcare clinic on June 19, 2026, completing its transition to a Bitcoin-focused operating business. The company now operates three core verticals—media and information services, asset management, and consulting—aimed at generating recurring revenue independent of Bitcoin's price.

Bitcoin's onchain transaction count reached its highest level in 2026, surpassing 800,000 daily transactions, driven by protocol-driven activity like Ordinals, Runes, and BRC-20 tokens. However, the economic value of these transactions remains low, with 80% involving less than 0.01 BTC, and Bitcoin's price has declined despite increased network activity.

Kevin Warsh, as the new Fed Chair, prioritizes price stability and reduced forward guidance, highlighting the dollar's need for human intervention to avoid debasement. Bitcoin's hard-capped supply and predictable issuance contrast with the Fed's discretionary money supply adjustments, emphasizing Bitcoin's inherent predictability.

Over 60 cryptocurrency industry leaders, including executives from Coinbase, a16z crypto, and Uniswap, urged Senate leaders to pass the Digital Asset Market Clarity Act with protections for blockchain developers intact. The letter emphasized Section 604 (BRCA) of the bill, which shields non-controlling developers from federal money transmission prosecution, as critical to sustaining U.S. blockchain innovation. The bill passed the House in July 2025 and cleared the Senate Banking Committee in May 2026 but remains pending in the full Senate.

El Salvador, the first country to grant bitcoin legal tender status in 2021, continues accumulating BTC, holding 7,677 BTC worth $480 million as of 2026. Despite removing bitcoin’s mandatory legal tender status in 2025 to secure an IMF loan, the government has not sold any coins and remains committed to bitcoin and AI development.

Bitcoin's price is experiencing one of its worst performances historically, with multiple technical indicators like the Crosby Ratio Z-score, RSI, and 200-week moving average reaching extreme lows. The author views this as a high-probability accumulation opportunity, citing historical precedents where similar conditions led to significant buying chances.

The article explains Bitcoin's pseudonymous nature, noting that while Bitcoin itself doesn't require personal data, companies often link user information to accounts for compliance, risking privacy. It highlights Bitcoin's role as a privacy tool in a data-insecure digital society and discusses varying threats like government controls, organized crime, and oppressive regimes.