The US Senate advanced a bipartisan bill this week that would allow Trump to impose tariffs of up to 100% on countries buying Russian oil and gas. India is the most exposed major economy if it passes. Russia now accounts for 41% of India’s crude imports, with Indian purchases hitting a record 2.7 million barrels per day in June. Crypto isn’t the target, but 100% tariffs stacked on top of last week’s new country-specific levies are exactly the kind of macro disruption that moves risk assets before anyone finishes reading the bill.
The CLARITY Act isn’t happening before the August recess. The Senate pushed the vote again, with Trump nominees and the Russia sanctions bill taking priority ahead of the August 8 deadline. The industry has been waiting on this for years. It will keep waiting until September at the earliest.
The infamous Lazarus Group moved 121.5 BTC, approximately $7.74 million, to new wallet addresses this week, according to Arkham Intelligence.
Asia had a busy week in regulation:
- India’s CBDT issued new guidance tightening crypto reporting requirements for exchanges and VDA service providers.
- South Korea’s FSC announced plans for a Digital Asset Basic Act, expanding the country’s framework beyond investor protection, with the 2027 digital asset tax timeline also back on the table.
Binance Futures added three perpetual contracts tied to US Treasury bond ETFs and the ProShares Bitcoin ETF, a quiet expansion of tokenized TradFi on the world’s largest derivatives exchange.
In AI, Coinbase CEO Brian Armstrong said this week that AI will drive crypto demand, with Base and USDC positioned as the payment layer for autonomous agents. Samsung SDS is in talks with Upbit operator Dunamu on stablecoins and AI-powered digital asset services.
From sanctions to stalled legislation to the Lazarus Group, this week had range. If you missed anything, here’s your catch-up.
Lead Story of the Week:
U.S. Senate Advances Russia Sanctions Bill, India Faces 100% Tariff Risk (Read More)
The U.S. Senate has advanced a bipartisan bill that could allow President Donald Trump to impose tariffs of up to 100% on countries buying Russian oil and gas. (Read The Full Story)
Market Highlights
- Binance Futures Lists Tokenized US Treasury and Bitcoin ETF Perpetual Contracts
Binance Futures expands its tokenized TradFi offerings with three new USDⓈ-M perpetual contracts tied to U.S. Treasury bond ETFs and the ProShares Bitcoin ETF. (Read More)
- Lazarus Group Moves $7.74M in Bitcoin as Fresh On-Chain Transfer Renews Laundering Concerns
The North Korea-linked Lazarus Group has moved 121.5 Bitcoin (BTC) worth approximately $7.74 million to new wallet addresses, according to Arkham. (Read More)
- India Tightens Crypto Reporting Rules for Exchanges and VDA Firms
India’s Central Board of Direct Taxes (CBDT) has issued guidance on how crypto exchanges and other virtual digital asset (VDA) service providers must comply with the new crypto reporting rules. (Read More)
- South Korea Pushes Unified Crypto Law as Lawmakers Revisit 2027 Digital Asset Tax
South Korea’s Financial Services Commission (FSC) plans to introduce a Digital Asset Basic Act to expand its crypto regulatory framework beyond investor protection. (Read More)
Latest News For You
US Senate Delays CLARITY Act Vote Again as Crypto Bill Loses Priority Before August Recess (Read More)
The U.S. Senate has delayed the CLARITY Act as lawmakers prioritize Trump nominees and a Russia sanctions bill ahead of the August 8 recess. (Read Full Story)
AI News Highlights
- Coinbase CEO Says AI Will Boost Crypto Demand as Base and USDC Power Agent Payments
Coinbase CEO Brian Armstrong says AI will boost crypto demand, with blockchain serving as the payment layer for autonomous AI systems. (Read More)
- Samsung SDS Discusses Stablecoin, AI Partnership With Upbit Operator Dunamu (Read More)
Samsung SDS is in talks with Dunamu, the operator of South Korea’s largest cryptocurrency exchange, Upbit, on stablecoins and AI-powered digital asset services.
Market Movers
Top Gainers 📈
- JupUSD (JUPUSD) +699.59%
Jupiter (JUP) ecosystem token is rising due to strong protocol revenue, aggressive supply token burns, and the expansion of new products like JupUSD and Jupiter Lend.
Top Losers 📉
- Lorenzo Protocol (BANK) −79.24%
Lorenzo Protocol (BANK) is dropping due to heavy profit-taking, broader DeFi sector sell-offs, and derivatives liquidations following an aggressive parabolic rally.
Source: CoinGecko
Project Spotlight
Upbit Lists Ripple USD With KRW, BTC and USDT Trading Pairs
South Korean crypto exchange Upbit will add trading support for Ripple USD (RLUSD), expanding access to Ripple’s stablecoin in one of the world’s most active digital asset markets.
Disclaimer: This roundup is intended solely for informational purposes and should not be considered trading or investment advice. Nothing herein should be construed as financial, legal, or tax advice. Trading or investing in cryptocurrencies carries a considerable risk of financial loss. Always conduct due diligence
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