Coinworld.net reported:
00:00-09:00
Keywords: Curve founder delivers 7.5 million CRV to Christian, US federal judge upholds “most” of SEC’s charges against Binance, IRS finalizes new regulations for cryptocurrency taxation, Solana chain NFT minting exceeds 500 million.
1. According to on-chain analyst Yu Jin, the Curve founder stated that the 30 million CRV sold to Christian will be delivered in mid-August because he still has 24.7 million CRV that will be fully unlocked on August 12. He has already delivered 7.5 million CRV to Christian, which, combined with the remaining unlocked tokens, is enough in quantity. This also means that on August 12, the Curve founder’s CRV will be fully unlocked. Additionally, he has locked 103 million CRV until June 2028.
2. On June 30, according to Token.unlocks data, WLD will experience a large linear unlocking starting from July 24, with a daily unlock of 6.62 million WLD tokens, equivalent to approximately $18 million. The unlocking will last for 730 days, including community unlocking, initial development team unlocking, and investor unlocking.
3. According to reports, a US federal judge upheld most of the SEC’s charges against Binance, stating that the company may have offered unregistered investment products in violation of anti-fraud regulations. The judgment found most of the institution’s arguments to be reasonable and rejected certain arguments raised by Binance, which were also rejected by other judges, such as the Major Questions Doctrine, which implies that the SEC does not have complete authority to regulate the cryptocurrency industry. Furthermore, the court determined that Binance founder and former CEO CZ is currently serving a prison sentence in another case brought by the Department of Justice against Binance, and due to his control over Binance, he may be personally responsible for Binance’s violations. However, the judge also dismissed certain appeals related to some of the charges. Judge Amy Berman Jackson’s ruling states that these charges do not meet the Howey test. Judge Jackson also dismissed the charges related to BNB secondary sales and Binance’s Simple Earn project, but the charges against Binance’s Earn Vault will continue. Among the 13 charges, only one charge (related to BUSD sales) was completely dismissed.
4. According to reports, Consensys Software issued a statement in response to the SEC’s accusation that the company engaged in the unregistered securities issuance through Metamask staking and swaps. Consensys believes that the SEC’s actions are regulatory overreach and vows to defend its position in court, emphasizing the broader impact on the web3 ecosystem. On Friday, Consensys Software issued a statement responding to the SEC’s allegations. The SEC accused Consensys of engaging in unregistered securities issuance and sales through a service called Metamask Staking, as well as operating as an unregistered broker through Metamask Staking and another service called Metamask Swaps.
5. According to reports, the Federal Trade Commission (FTC) has issued warnings to consumers about the increasing social media investment scams, especially involving cryptocurrency investments. These scams involve fraudulent information claiming high returns with almost no risk. The FTC advises consumers not to pay attention to such information and reminds them that all investments carry inherent risks. The FTC released a consumer alert on Friday, written by FTC consumer education specialist Andrew Rayo, stating that sudden investment information on social media is almost always a scam.
6. According to Consensys Chief Legal Officer Bill Hughes, the IRS has canceled a final broker reporting rule for us, which does not finalize the rules regarding non-custodial wallets and related non-custodial software products. They state that these products are still under review and may be considered brokers, and their status will be determined later. The scope of “digital assets” under this final rule is too broad and objectionable. Each NFT disposal is a reportable event. Each stablecoin disposal is the same. If you don’t submit a form to the IRS explaining that your earnings or losses are fractions of a cent, you won’t be able to convert USDC to dollars on an exchange.
7. On June 30, Axelar (AXL) Foundation, a cross-chain interoperability network, announced its collaboration with blockchain analytics company Metrika to hold a panel discussion at the Zero Forum in Zurich from July 1 to July 3. The panel discussion will focus on insights derived from specific papers and challenges related to asset tokenization, with representatives from Citi, Deutsche Bank, and Mastercard in attendance.
8. According to reports, the IRS has finalized new regulations for cryptocurrency taxation, requiring cryptocurrency trading platforms to report transactions to the IRS starting from 2026. However, decentralized platforms that do not hold assets will be exempt. These are the main contents of the new regulations finalized by the IRS and the US Treasury Department on Friday, essentially implementing a provision in the Biden administration’s 2021 Infrastructure Investment and Jobs Act. Even without these new regulations, cryptocurrency holders are still required to pay taxes; however, there has been no real standardization on how to report these holdings to the government and individual investors. Starting from 2026 (covering transactions in 2025), cryptocurrency platforms must provide standard 1099 forms, similar to the forms sent by banks and traditional brokerage firms. In addition to streamlining the cryptocurrency tax process, the IRS also stated that it is working to combat tax evasion.
9. Vitalik Buterin described a situation in a response to a user on the social media platform Warpcast based on the Farcaster protocol: Current regulatory measures have essentially pushed honest cryptocurrency developers into a corner. The main challenge of cryptocurrency regulation (especially in the United States) has always been that if you do something useless or ask people for money in exchange for vague mentions of potential returns, you are free and innocent. But if you try to clearly explain to your customers where the returns come from and promise them certain rights, then you’re screwed because you’re a “security.” The incentive gradient created by this “anarcho-tyranny” will ultimately be worse than pure anarchy or pure tyranny. From an anarchic perspective, it seems endless bad actors, scammers, and baseless promoters on social media and sharing platforms. Previously, Buterin proposed three suggestions to address the problem of “useless” cryptocurrency products and services.
10. Former SEC **John Reed Stark stated that the burden of proof always lies with the SEC to prove that a product is a security. To my knowledge, the judge only requires the SEC to prove that people who purchase Binance products are “investors” who buy them in the hope of price appreciation, rather than “customers” who buy them because the products offer some utility (such as trading discounts). According to the judge, if a digital asset security somehow transforms into a utility instead of a speculative investment tool, then it “ceases to be a security.” It is worth noting that the judge explicitly rejected the perplexing finding in the Ripple ruling that there must be some contractual relationship between investors and issuers in the secondary market to trigger registration requirements, a conclusion that has not been adopted or even cited in any form by other regional courts.
11. SolanaFloor announced on the X platform that the number of NFTs minted on the Solana chain has exceeded 500 million, with the majority utilizing the new compressed NFT standard. At the same time, the total number of collections exceeds 100,000, and the number of collectors’ addresses exceeds 49 million.
