Daily Web3 News Curated for You by BiTui Editor:
[UAE Refutes Rumors: “Golden Visa Not Applicable to Cryptocurrency Investors”]
According to Bitu, reports from Abu Dhabi indicate that the Federal Authority for Identity, Citizenship, Customs and Port Security (ICP), the Securities and Commodities Authority (SCA), and the Virtual Assets Regulatory Authority (VARA) have issued a joint statement denying false reports regarding the UAE issuing golden visas to cryptocurrency investors.
ICP clarified that the Golden Visa does not include digital currency investors, but is applicable to categories such as real estate investors and entrepreneurs who meet the criteria. SCA emphasized its commitment to regulating the financial industry and securities services, while VARA denied the claims regarding the issuance of Golden Visas to Dubai virtual asset investors, warning investors to obtain information from reliable official sources to avoid misinformation or fraud.
Three regulatory agencies jointly urge the public and investors to act with caution and refer to official government websites and approved communication channels for accurate information.
[Hong Kong’s Stablecoin Regulations Set to Take Effect, Financial Secretary Reveals Single-Digit Licenses Will Be Issued]
According to BitPush news and Ming Pao reports, the “Stablecoin Regulation” in Hong Kong will come into effect in August. The Secretary for Financial Services and the Treasury, Christopher Hui, stated that the Monetary Authority is consulting the market to implement the regulatory guidelines, which are expected to be announced within this month and will involve anti-money laundering and other related requirements.
Xu Zhengyu also stated that after the regulations take effect, applications for stablecoin licenses will be accepted, with the goal of issuing licenses within this year, and the number of licenses will be a single digit. Regarding whether financial institutions can issue stablecoins pegged to the RMB after obtaining the licenses, Xu Zhengyu indicated that if it involves currencies from other jurisdictions, discussions with relevant institutions would be necessary.
[Musk: Fiat Currency Is Hopeless, the ‘American Party’ Will Embrace Bitcoin]
According to Bitpush news, a user asked whether the US party would embrace Bitcoin, to which Musk replied: “There is no hope for fiat currency, so yes.”
[Trump: Any country that aligns with the anti-American policies of BRICS nations will face an additional 10% tariff]
According to BitPush news, U.S. President Trump stated in a social media post, “Any country that aligns with the anti-American policies of the BRICS nations will be subject to an additional 10% tariff. There will be no exceptions to this policy.”
[Zhao Changpeng: Binance achieved approximately 1 billion dollars in profit in its first year of establishment]
According to Bitpush news, in an interview with Anthony Pompliano, Binance founder Zhao Changpeng revealed that Binance achieved approximately 1 billion dollars in profit in its first year, potentially making it the first company to earn 1 billion dollars in profit from the startup phase.
Zhao Changpeng stated that these profits were mainly achieved within the first 3 to 8 months after the company went live, particularly during the 3rd to 7th months, when Binance’s trading volume reached its peak. He added that while some companies reached a valuation of 1 billion dollars faster, from a profitability perspective, Binance might be the startup that achieved this goal the fastest.
[FTX Creditors’ Representative Updates Claim Information: Total Claims Estimated at $11 Billion, Judicially Restricted Claims Total $470 Million]
According to BitPush news, FTX creditor representative Sunil updated the FTX claims distribution information on the X platform, with a total claim amount of $470 million in restricted jurisdictions. China is the largest holder of FTX claims, with $380 million in claims (accounting for 82% of the restricted claims).
The KYC incomplete claims (Bahamas) amount to 290 million dollars, the total amount of disputed claims is 660 million dollars, the total amount awaiting claim resolution is 1.4 billion dollars, and the total amount of claims expected to be allowed is 11 billion dollars.
[Hong Kong Securities and Futures Commission Holds Second Digital Asset Consultation Group Meeting]
According to BitPush news, Jinshi reports that the Hong Kong Securities and Futures Commission (SFC) held its second digital asset advisory group meeting today.
The meeting with the licensed virtual asset trading platform covered a wide range of topics related to market and regulatory developments in the Hong Kong digital asset sector, particularly the initiatives related to Pillar A (Access) and Pillar P (Products) in the SFC’s ASPIRe roadmap, including the proposed introduction of a regulatory framework for virtual asset trading service and custody service providers, as well as measures for market participation and product supply.
[Trump Administration’s Digital Assets Working Group Plans to Submit Its First Major Cryptocurrency Policy Report by July 22]
According to BitPush news and reported by Crypto In America, the Trump administration’s digital asset working group is preparing to submit its first important report on cryptocurrency policy by July 22.
This report is the result of months of collaboration between Working Group Chair David Sacks, Bo Hines, and senior officials from the Treasury Department, Department of Commerce, SEC, and CFTC, aimed at implementing the executive order signed by President Trump in January to strengthen the U.S. leadership in the cryptocurrency space. The report is expected to include regulatory and legislative recommendations, but specific details are still unclear. The original tasks of the working group included developing a federal digital asset framework that covers stablecoins (Congress has initiated related procedures) and exploring whether to establish a national digital asset reserve (which Trump set up in March).
During a recent speech, CFTC Acting Chair Caroline Pham stated that the report will serve as the government’s “cryptocurrency roadmap” and described the current work as “productive.” White House officials indicated that the report is set to be released by the deadline of July 22.
Although the details of the report have not yet been disclosed, industry insiders speculate that it may include: a strategic Bitcoin reserve fundraising plan that does not increase the tax burden on taxpayers, as well as recommendations to ensure that crypto companies can fairly access banking services from institutions like the Federal Reserve— which has historically refused to allow crypto companies direct access to its payment system.
[Puppet Mart’s first investor Mai Gang: Bitcoin is a very important experience in my career, and no PhD is needed for understanding it]
According to Bitpush news, Mai Gang, the first investor of Pop Mart, recently stated in a podcast interview, “Bitcoin is a very important experience in my career. Once, during a forum for alumni of Renmin University, the host asked me why I am so fond of Bitcoin, while various big names, like chief economists, have not grasped or seen it?”
First of all, I am definitely not a top student. Secondly, I am not a bottom student either, which means I only remember the most important things that the teacher taught me, those common sense or truths.
So back then when we studied currency banking, economics, etc., every university student (studying finance) would have these courses. From this perspective, looking at Bitcoin is actually incredibly simple. Of course, it definitely involves a lot of interdisciplinary knowledge, but you don’t need a PhD to understand it. I think the pursuit, inquiry, and persistence regarding essential questions is very rare and important. What it is, is what matters most.
