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A recent meeting was held where crypto people and bank groups came together to talk about how this bill should work. Many crypto voices were in the room and they felt ready to move fast. The bank side was more slow and careful. Still many people said the talk was a good step in the right way.
The White House told everyone that they must reach real progress before the end of this month. The main topic was about stablecoins and if they should give rewards to users. Crypto groups say rewards help people use stablecoins in daily life. Bank groups worry that this could pull money away from normal bank accounts. This is why the talks were not easy.
The goal is to move this bill through the Senate Banking group so it can match the progress made in another Senate group last week. If the bill does not move soon it may not pass this year. This makes the next few weeks very important.
The meeting lasted more than two hours. People talked about how to fix the hardest parts of the bill. The White House asked everyone to come back with real ideas and not just talk. Bank groups said they need to check with their members before they agree to any change.
Crypto leaders said this meeting was a good sign. They believe both sides can find a fair way to move ahead. They also said that doing nothing is not an option. Many people today use digital money and they want clear rules to keep things safe and fair.
Bank groups said they want a law that helps families and small shops and keeps the money system safe. They want to make sure new rules do not hurt local banks or the way people get loans.
There are also other issues in the bill. Some lawmakers want strong rules to stop crime. Some want clear rules to stop people in power from using crypto for their own gain. These points also need to be solved before the bill can pass.
The White House believes that bringing all sides together is the best way to find a path forward. More talks will happen with a smaller group so they can focus on real words in the bill and not just big ideas.
At the same time the US government is dealing with a funding pause. This makes the work harder but leaders still want to keep moving on the crypto bill.
The next step is for the Senate Banking group to take up the bill. If they can agree on the main points then the full Senate can vote on it.
Many people in the crypto world are watching closely. They hope this law will bring trust and growth to digital money in the US. The coming days will show if both sides can find common ground and move forward together.
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The U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) are set to hold a joint event today to discuss their coordinated efforts to deliver on President Donald Trump’s pledge to make the United States the “crypto capital of the world.”
This marks a notable moment for U.S. crypto regulation, as the SEC and CFTC have historically differed on jurisdiction and oversight of digital assets. A collaborative approach could signal progress toward clearer regulatory frameworks, improved inter-agency coordination, and greater certainty for crypto companies and investors.
Key discussion areas are expected to include:
•Regulatory clarity for digital assets
• Market structure and investor protection
• The role of crypto in U.S. financial competitiveness
• Pathways for innovation while maintaining compliance
📊 Why this matters:
Greater alignment between the SEC and CFTC could reduce regulatory friction, encourage institutional participation, and support long-term adoption of crypto markets in the U.S.
Markets will be closely watching for signals on policy direction and enforcement tone.
#CryptoNews #SEC #CFTC #Regulation #USCrypto

$BTC The UK High Court has begun addressing complex procedural issues in a major civil recovery case involving Bitcoin assets linked to convicted fraudster Zhimin Qian, highlighting growing legal challenges in large-scale cryptocurrency restitution cases. The court’s focus has centered on how thousands of victims — most of them based in China — should be represented in proceedings involving one of the largest Bitcoin seizures in UK history.
The case follows Qian’s conviction for money laundering after authorities uncovered that proceeds from a vast investment fraud in China were converted into Bitcoin and later held in the United Kingdom. The fraud, carried out between 2014 and 2017, is believed to have affected more than 100,000 victims. UK law enforcement agencies seized tens of thousands of Bitcoin linked to the scheme, with the value of the assets having risen dramatically since the original crimes were committed.
At a recent procedural hearing, the High Court did not rule on ownership or distribution of the seized Bitcoin. Instead, Judge Turner raised concerns over the increasing number of law firms seeking to represent different groups of victims. The court warned that allowing multiple fragmented legal teams to participate could result in a “proliferation of representation,” complicating proceedings and undermining efficient case management.
The victims’ claims are being pursued under provisions of the Proceeds of Crime Act, which allow individuals to seek civil recovery of property obtained through criminal conduct. While the law provides a route for compensation, the sheer scale of the case — involving thousands of claimants across jurisdictions — presents unprecedented logistical and legal challenges.
Adding further complexity is a parallel bankruptcy process involving Blue Sky Grid Company, an entity linked to the broader fraud. The court acknowledged that outcomes in the bankruptcy proceedings could affect how recovered assets are distributed, raising questions about coordination between different legal processes.
The High Court is expected to use upcoming hearings to determine whether victim representation should be consolidated or coordinated under a smaller number of legal teams. Such a move would aim to streamline proceedings while preserving the rights of victims to be heard fairly and effectively.
Further hearings scheduled for February are anticipated to clarify procedural arrangements and establish a framework for moving toward substantive decisions on asset recovery. Legal observers note that the case could set an important precedent for how courts handle mass-victim cryptocurrency recovery, particularly as digital assets become increasingly central to global financial crime.
As authorities, courts, and victims await the next phase, the proceedings underscore the growing intersection between traditional legal systems and the evolving realities of crypto-related crime — where questions of jurisdiction, representation, and asset valuation remain far from settled.