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US Senator Cynthia Lummis submitted a draught measure connected Thursday proposing to exempt definite crypto transactions from taxation and defer taxes connected mining and staking rewards until the underlying tokens are sold.
“My authorities ensures Americans tin enactment successful the integer system without inadvertent taxation violations,” said Lummis.
The senator’s draught measure was published 3 weeks aft the Guiding and Establishing National Innovation for US Stablecoins, oregon GENIUS Act, passed the Senate successful a 68–30 ballot connected June 11, Cointelegraph reported.
The GENIUS Act may “legitimize” stablecoins for organization participants by mounting wide collateralization standards, cementing them arsenic a “better signifier of money,” said Andrei Grachev, managing spouse astatine DWF Labs and Falcon Finance.
The expanding US regulatory clarity whitethorn alteration much traditional concern players to question retired decentralized fiscal services, owed to their disappointment with accepted banking services, according to Aave Labs laminitis Stani Kulechov.
“Thanks to horrible banking experiences, we’ve seen a batch of concern coming into fintech, and fintech applications capable to seizure a batch of marketplace share,” Kulechov said onstage astatine EthCC 2025.
Beyond decentralized concern (DeFi), the tokenization of real-world assets is simply a “multi-trillion-dollar opportunity” for the crypto assemblage to prosecute with accepted finance, added Kulechov.
Stani Kulechov onstage astatine EthCC 2025 successful Cannes, France. Source: EthCCIn the wider crypto space, Chainlink, a decentralized blockchain oracle web for crosschain communication, launched a new compliance framework aimed astatine unlocking implicit $100 trillion worthy of organization superior for the crypto market.
“Chainlink ACE is the compliance and individuality modular the tokenized plus system has been waiting for, with today’s motorboat providing a last captious gathering artifact for implicit $100 trillion successful organization superior to determination onchain,” said Sergey Nazarov, the co-founder of Chainlink.
US Senator Cynthia Lummis drafts standalone crypto taxation bill
US Senator Cynthia Lummis submitted a draught measure connected Thursday, outlining respective provisions to overhaul the taxation codification and exempt definite integer plus transactions from taxation aft crypto amendments failed to look successful the fund package.
The bill proposes a de minimis exemption for integer plus transactions and superior gains of $300 oregon less, with a $5,000 yearly exemption cap.
The Wyoming Senator besides outlined provisions to exempt crypto lending agreements and digital assets utilized successful charitable contributions from taxation. Additionally, the measure projected deferring taxes connected mining and staking rewards until the underlying assets are sold. Lummis said:
“This groundbreaking authorities is afloat paid for, cuts done the bureaucratic reddish tape, and establishes common-sense rules that bespeak however integer technologies relation successful the existent world. We cannot let our archaic taxation policies to stifle American innovation.
“My authorities ensures Americans tin enactment successful the integer system without inadvertent taxation violations,” she added.
Senator Lummis’s crypto taxation draught bill. Source: Senator LummisThe standalone draught measure is present the Wyoming senator’s champion accidental of passing the pro-crypto authorities promised to the crypto assemblage aft the Senator passed the spending bill without addressing integer assets.
$250 cardinal Ondo Catalyst money signals “arms race” for RWA tokenization
DeFi protocol Ondo Finance and task steadfast Pantera Capital program to ramp up investments successful real-world assets (RWAs), highlighting the industry’s expanding absorption connected tokenization amid favorable regulatory developments successful the United States.
Both companies informed Axios that they program to put $250 cardinal successful RWAs done a caller money called Ondo Catalyst. Ondo’s main strategy officer, Ian De Bode, said the funds volition beryllium invested to get equity stakes and tokens successful emerging projects.
“We are seeing a spot of an arms contention close now” successful the tokenization market, De Bode told Axios, referring to the surge of companies entering the space. Exchanges successful peculiar are zeroing successful connected tokenized stocks and exchange-traded money (ETF) offerings.
As Cointelegraph precocious reported, integer brokerage steadfast Robinhood has launched a caller layer-2 blockchain to alteration European clients to commercialized tokenized US stocks and ETFs.
In May, Kraken announced plans to connection tokenized US banal trading to investors extracurricular the United States.
Meanwhile, crypto speech Coinbase is reportedly pursuing regulatory approval to connection tokenized equities, a determination that would assistance it vie with Robinhood and different trading platforms.
Ondo Finance has been ramping up its propulsion into onchain finance, precocious announcing the enactment of a Global Markets Alliance with respective crypto firms to thrust adoption of blockchain-based superior markets. On Thursday, the institution announced that OKX Wallet has joined the alliance.
PancakeSwap doubles quarterly measurement to $530 cardinal arsenic upgrades boost growth
PancakeSwap, a multichain decentralized speech (DEX), reported a record-breaking $325 cardinal successful trading measurement for June, the highest monthly trading measurement successful the platform’s five-year history.
The June full surpassed May’s $174 cardinal and pushed PancakeSwap’s second-quarter measurement to $530 billion, much than doubling the $211 cardinal recorded successful the archetypal quarter, according to information from Dune Analytics.
PancakeSwap DEX monthly measurement and trader Source: Dune AnalyticsThe surge successful enactment follows a bid of caller upgrades, including the April rollout of PancakeSwap Infinity, which introduced respective features designed to amended idiosyncratic acquisition and trading efficiency.
The upgrade introduced little state fees, customizable liquidity pools utilizing “Hooks,” and enactment for precocious liquidity providers done CLAMM and LBAMM excavation types.
Chef Kids, caput of PancakeSwap, told Cointelegraph that PancakeSwap Infinity offers cardinal advantages for developers and liquidity providers. For developers, the level allows caller excavation types and customized Hooks to beryllium integrated without redeploying astute contracts oregon launching caller versions, which “drastically lowers improvement overhead and accelerates innovation.”
FATF’s crypto checklist hints astatine adjacent regulatory crackdown
Cryptocurrency regulations are progressively aligning with planetary standards arsenic 73% of eligible jurisdictions person present passed laws to instrumentality the Financial Action Task Force’s (FATF) Travel Rule.
The Travel Rule mandates crypto work providers to cod and stock users’ transaction data, akin to accepted concern requirements. On June 26, the FATF released its yearly study that outlines however caller regulatory moves by jurisdictions are converging with its planetary Anti-Money Laundering (AML) framework.
This is simply a nonstop effect of a years-long run by the FATF to bring cryptocurrencies successful enactment with accepted AML and Counter-Terrorist Financing (CFT) standards.
The FATF spotlighted stablecoins and decentralized concern (DeFi) for the 2nd consecutive year, highlighting their rising usage successful illicit finance, including by North Korean actors. The enactment said it plans to merchandise targeted papers connected stablecoins, offshore crypto platforms and DeFi by adjacent summer, hinting astatine wherever planetary crypto regularisation whitethorn caput next.
FATF’s AML/CFT priorities are treated arsenic a checklist by regulators. Source: Joshua ChuCrypto losses deed $2.5B successful archetypal fractional of 2025, but hacks autumn successful Q2: CertiK
Losses to crypto hacks, exploits and scams spiked to $2.47 cardinal successful the archetypal fractional of 2025, but the 2nd 4th saw a diminution successful the full fig of hacks, said blockchain information steadfast CertiK.
Over $800 cardinal was mislaid crossed 144 incidents successful Q2, a 52% alteration successful worth mislaid compared with the erstwhile quarter, with 59 less hacking incidents, CertiK said successful a study connected Tuesday.
In total, the archetypal fractional of 2025 saw much than $2.47 cardinal successful losses due to hacks, scams and exploits, representing a astir 3% summation implicit the $2.4 cardinal stolen successful 2024.
However, considering the much than $187 cardinal returned crossed the year’s archetypal half, CertiK said the adjusted full is person to $2.2 billion.
Source: CertiKDespite the spike successful losses, CertiK said it doesn’t needfully “suggest a deteriorating information landscape” due to the fact that the lion’s stock of losses came from conscionable 2 incidents, against crypto speech Bybit and Cetus Protocol, worthy $1.78 cardinal combined.
DeFi marketplace overview
According to information from Cointelegraph Markets Pro and TradingView, astir of the 100 largest cryptocurrencies by marketplace capitalization ended the week successful the green.
The Pudgy Penguins (PENGU) token roseate implicit 66% arsenic the week’s biggest gainer, followed by the Bonk (BONK) memecoin, up astir 25% connected the play chart.
Total worth locked successful DeFi. Source: DefiLlamaThanks for speechmaking our summary of this week’s astir impactful DeFi developments. Join america adjacent Friday for much stories, insights and acquisition regarding this dynamically advancing space.
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