U.S. Treasury Secretary Yellen: The Crypto Market Structure Act needs to be passed this spring

The Ministry of State Security warns of risks from mnemonic-token scams, involving allegedly illegal financial activities such as stockpiling mnemonic tokens and off-exchange trading

The Ministry of State Security issued a notice warning of the risks of “token scams,” stating that hoarding tokens and off-exchange trading may involve illegal financial activities that endanger national security. It emphasizes the need to guard against risks such as data leakage, forgery, and fraud, and reminds the public to view tokens rationally while strengthening awareness of information and privacy security.

Gate Daily Report (April 7): SEC submits crypto “safe harbor” proposal to the White House; Argentina president and LIBRA call records exposed

Bitcoin gives back its gains on April 7, trading at $68,800. A U.S. SEC “safe harbor” proposal for crypto has been submitted for review by the White House. Argentina’s President Milei has been accused of having multiple calls with LIBRA’s founder, sparking a scandal. Bitcoin’s market volatility is high; it’s advised to control leverage to prevent large-scale liquidations.

The blockchain association opposes Citadel’s DeFi regulatory proposals and calls on the SEC to move forward with an innovation exemption mechanism

The Blockchain Association responded to the U.S. Securities and Exchange Commission to Citadel’s claim that it should strengthen DeFi oversight, arguing that DeFi developers should not be subject to the regulatory framework applied to traditional financial intermediaries, and suggesting that an “innovation exemption” mechanism be advanced to promote innovation in on-chain assets and tokenized securities.

SEC Crypto Safe Harbor Proposal Enters White House Review Stage

Gate News: On April 7, Paul Atkins, Chair of the U.S. Securities and Exchange Commission (SEC), said at the Vanderbilt University Digital Assets Summit that the SEC’s proposed crypto “safe harbor” framework has been submitted to the Information and Regulatory Affairs Office (OIRA) for review under the Office of Management and Budget, and that only one final step remains before it is formally released. The proposal includes a “start-up exemption” provision, allowing crypto projects to raise a certain amount of funding within a four-year period, while requiring specific disclosures to protect investors. Atkins also revealed that the SEC is moving forward with an “innovation exemption” mechanism, which would create a regulatory sandbox for on-chain assets, but the initiative has sparked controversy between crypto advocates and traditional financial institutions. Atkins emphasized that related legislation still needs to be advanced to ensure the regulatory framework has staying power across administrations.

Appeals court blocks New Jersey from shutting down Kalshi's sports markets

An appeals court ruled Monday that New Jersey could not temporarily ban prediction market provider Kalshi, giving the platform a much-needed win against an onslaught of state enforcement actions. A Third Circuit Court of Appeals panel ruled in a 2-1 vote that the state could not bring an enforcemen

Jack Dorsey posted to confirm that Apple has removed Bitchat, the decentralized messaging software, at China’s request.

Block CEO Jack Dorsey confirmed that Apple has removed the decentralized communications app Bitchat in accordance with China’s requirements because it violates China’s Cybersecurity Law. Bitchat uses Bluetooth and a mesh network for communication and does not rely on the internet, which is why it has been widely used in protests. The app can still be used in other countries, and the global download count has exceeded 3 million.