|
Getting your Trinity Audio player ready...
|
The crypto industry saw major developments today spanning Bitcoin accumulation, U.S. regulatory reform, and a notable court decision on Tornado Cash. From Japan’s Metaplanet expanding its Bitcoin strategy to Coinbase lobbying Congress, here’s a concise roundup of what moved the crypto space.
Metaplanet’s Bitcoin Ambitions Expand to Digital Banking
Tokyo-listed firm Metaplanet is positioning itself as one of the most aggressive corporate Bitcoin buyers, currently holding 15,555 BTC as part of a broader hedge against inflation. According to CEO Simon Gerovich, the company aims to hold over 210,000 BTC by 2027, representing about 1% of Bitcoin’s maximum supply.
In a recent interview, Gerovich revealed Phase 2 of Metaplanet’s strategy: using its Bitcoin holdings as collateral to acquire cash-generating businesses, potentially including a digital bank in Japan. “We think of it as a Bitcoin gold rush,” said Gerovich, signaling the firm’s intent to outpace competitors by accumulating BTC aggressively before leveraging it for strategic expansion.
Coinbase Leads Industry Push for Crypto Regulation Clarity
Meanwhile in Washington, Coinbase’s lobbying arm and 65 crypto-focused organizations have urged U.S. lawmakers to pass the CLARITY Act, a bill aimed at clearly defining which federal agencies regulate different aspects of crypto markets.
The legislation would grant the Commodity Futures Trading Commission (CFTC) primary jurisdiction over most crypto assets, while the Securities and Exchange Commission (SEC) would continue to oversee securities-linked products. Supporters argue the bill would modernize crypto regulation and prevent regulatory overreach that could stifle innovation.
Court Dismisses Tornado Cash Appeal, Ending Coin Center Lawsuit
In a major legal update, the U.S. Court of Appeals for the Eleventh Circuit dismissed Coin Center’s appeal against the U.S. Treasury’s 2022 sanctions on Tornado Cash. The joint motion by both parties ends the advocacy group’s legal challenge, which had claimed the sanctions exceeded OFAC’s statutory authority.
The dismissal sent Tornado Cash’s token (TORN) briefly soaring over 14% before settling near $9.47. Coin Center’s executive director Peter Van Valkenburgh acknowledged the case’s closure, criticizing the government’s unwillingness to defend its broad sanctions interpretation.
Also Read: Ethereum Whale Awakens After 10 Years—But On-Chain Data Signals Bullish Outlook
Today’s developments reflect the crypto sector’s growing intersection with traditional finance, regulatory policy, and judicial oversight. Whether it’s Metaplanet’s Bitcoin-fueled acquisition plans, Coinbase’s legislative advocacy, or the final gavel in the Tornado Cash saga, the industry continues to evolve rapidly across legal, institutional, and market fronts.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m your translator between the financial Old World and the new frontier of crypto. After a career demystifying economics and markets, I enjoy elucidating crypto – from investment risks to earth-shaking potential. Let’s explore!
