The push to pass the CLARITY Act is gaining momentum as lawmakers seek to introduce federal rules for digital asset markets. The proposal has received support from congressional leaders, industry organisations, consumer advocacy groups, national security veterans, and President Donald Trump.
The House Ways and Means Committee on Friday published draft legislation that would change how taxpayers report gains and losses from digital asset transactions, while also delaying taxation on newly created tokens, Bloomberg News reports.
US Treasury Secretary Scott Bessent said that American authorities had seized around $1 billion in crypto assets linked to Iran — twice the amount announced at the end of April.
During the Memorial Day weekend, oil markets moved lower after US President Donald Trump stated that an agreement to restore shipping through the Strait of Hormuz was “mostly agreed,” pushing Brent crude below the $99 level while Bitcoin remained near $77,000 as US stock exchanges stayed closed for the holiday.
American media outlet Axios shared details of a potential agreement currently being discussed between the United States and Iran. According to the report, the parties plan to extend the current ceasefire for another 60 days and hold comprehensive negotiations during this period on energy, maritime trade, and the nuclear programme.
Financial markets sharply reversed higher following reports of a possible peace agreement between the United States and Iran. Within minutes, the US stock market added roughly $500 billion in market capitalisation, while oil prices dropped sharply amid expectations of easing tensions around the Strait of Hormuz.
US Representatives Nick Begich and Jared Golden have introduced the American Reserve Modernization Act (ARMA) of 2026 — a bipartisan initiative that, if approved, would establish a US Strategic Bitcoin Reserve to be maintained for at least 20 years
According to the National Cryptocurrency Association, more than 67 million Americans — or one in four adults — currently own cryptocurrency. Crypto adoption is spreading across different demographics regardless of income level, age, or profession.
Trump visited China and returned to the United States with a substantial package of agreements — ranging from purchases of American grain to a shared position on Iran’s nuclear program. The visit, which took place from May 13–15, 2026, concluded with a detailed White House statement and significantly more restrained comments from Beijing.
Tense negotiations between U.S. President Donald Trump and Chinese President Xi Jinping have officially begun in Beijing. Xi Jinping told Trump that China and the United States should be “partners, not rivals,” presenting the nearly two-hour summit as an opportunity to reset one of the world’s most important bilateral relationships.
Coinbase Global Inc (NASDAQ:COIN) announced on Friday that a breakthrough agreement has been reached on stablecoin yield provisions, potentially resolving a months-long legislative deadlock in the U.S. Senate.
As cryptocurrency fraud continues to rise, some of the world’s leading institutions have joined forces. In this context, the United States, the United Arab Emirates, and China jointly carried out an operation to dismantle cryptocurrency fraud activities across nine centers.
The U.S. Department of the Treasury has seized approximately $500 million in crypto assets from Iran as part of the Operation Economic Fury campaign. This was announced by U.S. Treasury Secretary Scott Bessent during an appearance on the Kudlow program.
The largest cryptocurrency slipped slightly below $77,000 during Wednesday’s Asian session, rising just 0.1% over 24 hours and falling 0.8% over the week, holding in a tight range even as Brent crude climbed above $111 per barrel following a Wall Street Journal report that President Donald Trump had instructed aides to prepare for a prolonged U.S. naval blockade of the Strait of Hormuz.
The crypto exchange Kraken reported that this year it sent more than 56 million transaction reports to the Internal Revenue Service (IRS) for transactions made by clients in 2025. The platform urged the authorities to simplify the tax filing system.
On Thursday, Bitcoin’s upward momentum slowed: the asset’s price pulled back from a peak of $79,500 and stabilized around $78,000. This 1.2% drop marked the first daily decline of the cryptocurrency in several days, leading to a reduction in total market capitalization by $10 billion.
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