Hello Friends!! From innovative crypto regulation to market moves and beyond, the crypto world has been buzzing yesterday. So let’s dive into your updates.
The U.S. is giving crypto regulation a fresh glow-up!
Led by Senate Banking Committee Chair Tim Scott (R-S.C.), a group of senators has dropped the STREAMLINE Act. This bill aims to modernize the Bank Secrecy Act (BSA) for the first time in over 50 years.
This 1970 law is the backbone of anti-money laundering (AML) efforts, requiring financial institutions like banks. The STREAMLINE Act meanwhile pumps up the BSA’s reporting thresholds to match today’s economy. So in a sense it also helps flag shady transactions on crypto exchanges like Coinbase and Kraken.
Cash transactions triggering Currency Transaction Reports (CTRs) will now need to hit $30,000 (up from $10,000), while Suspicious Activity Reports (SARs) thresholds jump from $2,000-$5,000 to $3,000-$10,000.
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Hong Kong’s Solana ETF Steals the Spotlight
Hong Kong is actually beating the United States with its brand-new spot Solana ETF, making it the third spot crypto ETF in the city after Bitcoin and Ethereum.
Hong Kong Securities and Futures Commission greenlit the China Asset Management (Hong Kong) Solana ETF, set to hit the Hong Kong Stock Exchange on Monday.
With trading in both Chinese yuan and U.S. dollars, a low entry point of $100, and a 1.99% annual expense ratio, this ETF will be operated by OSL Exchange.
Tether’s USDT Skyrockets to 500 Million Users
Tether’s USDT stablecoin is throwing a global party, hitting 500 million users. This is almost 6.25% of the world’s population.
CEO of Tether Paolo Ardoino called it “the biggest financial inclusion achievement in history” on X.
1.4 billion adults are unbanked worldwide, per the World Bank, hence USDT’s growth shows how crypto regulation and innovation can empower those in high-inflation or unstable regions.
Crypto Firms Unite Against Phishing Epidemic
Meanwhile the sound of digital alarm bells is growing louder across the cryptocurrency world, as phishing attacks drain over $400 million from unsuspecting users in the first half of 2025.
Major wallet providers have finally united to fight back together.
MetaMask has joined forces with Phantom, WalletConnect, and Backpack to launch a ground-breaking real-time phishing defence network through the Security Alliance (SEAL).
“Drainers are a constant cat and mouse game,” explains Ohm Shah, MetaMask’s security researcher.
Yesterday’s updates highlight how crypto regulation is evolving to balance innovation and security. And that’s a wrap for today. Stay tuned to our social media for more updates on crypto regulation, blockchain Web3 and so much more!
