Ohio has passed a new bill that would make small Bitcoin transactions tax-free, positioning the state at the forefront of crypto adoption efforts in the US. The Ohio Blockchain Basics Act exempts Bitcoin payments under $200 from state capital gains tax, easing everyday crypto use.
The bill received overwhelming bipartisan support in the House, passing with a 68–26 vote. In addition to the tax exemption, it reinforces the right to self-custody and run Bitcoin nodes, which are vital to maintaining decentralised networks.
Advocates, including the Satoshi Action Fund, have called it one of the most robust Bitcoin rights bills to date.
HB 116 will now move to the Ohio Senate, and if approved, will require final confirmation from the Governor. The strong backing in the House has increased expectations for it to become law soon.
Ohio’s move follows similar efforts in states like Texas and Florida, which are exploring Strategic Bitcoin Reserves. Lawmakers across the country are ramping up pro-Bitcoin initiatives, reflecting broader national momentum in support of cryptocurrency-friendly regulation.
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China has reaffirmed its ambition to expand the use of its central bank digital currency, the digital yuan, beyond domestic borders. People’s Bank of China chief Pan Gongsheng said the country is committed to advancing the e-CNY to challenge US dollar dominance.
Speaking at the Lujiazui Forum, Pan confirmed the launch of an international operations centre for the digital yuan in Shanghai. He said China seeks a ‘multipolar’ global financial system, reducing reliance on a few major currencies such as the US dollar and the euro.
Pan also warned that traditional cross-border payment systems are increasingly exposed to geopolitical risk and can be weaponised through unilateral sanctions. China believes that digital currencies like the e-CNY offer a more stable and neutral alternative in such a landscape.
Despite the growing popularity of stablecoins for cross-border transactions, China remains focused on building a state-controlled digital currency.
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Iran’s central bank has imposed strict operating hours on domestic crypto exchanges following a massive $100 million hack on Nobitex, the country’s largest digital asset platform. The move comes amid accusations that the incident was politically motivated.
According to blockchain analytics firm Chainalysis, exchanges in Iran are now required to operate between 10 am and 8 pm only. Analysts believe the curfew is aimed at improving monitoring capabilities and limiting capital flight during heightened Iran-Israel hostilities.
Andrew Fierman, head of national security intelligence at Chainalysis, suggested the decision was both a technical response to the hack and a strategic move to maintain tighter control over outflows.
The cyberattack, allegedly orchestrated by pro-Israel group Predatory Sparrow, targeted Nobitex’s internal systems, draining hot wallets of Bitcoin, Ether, Dogecoin, XRP, and Solana.
Cybersecurity experts say the stolen assets were transferred to burner wallets without access keys, effectively destroying them in a rare politically charged crypto burn. Nobitex stated it has isolated its systems and will compensate users using its reserve fund.
Nobitex plays a crucial role in Iran’s crypto economy, having processed over $11 billion in inflows, far outpacing all other domestic exchanges. Chainalysis notes the platform also has ties to sanctioned entities and terrorist-linked groups.
The incident is one in a series of recent cyberattacks on Iranian infrastructure, suggesting a growing digital front in the long-standing Iran-Israel conflict.
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Bitget Wallet has made a significant step by becoming the first self-custody wallet to integrate directly with Vietnam’s national QR payment system, VietQR. The move lets users in Vietnam pay with crypto at over two million merchants, from restaurants to supermarkets and street vendors.
The integration allows seamless crypto transactions via a single scan of the VietQR code. Payments can be made using stablecoins such as USDT and USDC, supported on multiple blockchain networks including Ethereum, Tron, Solana, Base, TON, and BNB Chain.
The wallet’s developers plan to expand support to additional chains in the near future.
The rollout is part of Bitget Wallet’s broader PayFi initiative, which aims to connect crypto payments with national QR systems across several global regions. Auto-swap features are also on the roadmap, enabling token payments without fiat conversion.
Bitget Wallet is promoting the launch with a 50% cashback for the first 50,000 new users, valid from 16 June to 30 July. The company’s CMO, Jamie Elkaleh, stated the goal is to shift crypto from an investment vehicle into an everyday currency, beginning in Southeast Asia.
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BBVA, Spain’s second-largest bank, advises affluent clients to allocate between 3% and 7% of their portfolios to cryptocurrencies, including Bitcoin. The guidance comes just months after Spanish regulators approved the bank’s crypto trading services.
According to Philippe Meyer, head of digital and blockchain solutions at BBVA Switzerland, the bank has been advising wealthy clients on Bitcoin since September 2024. He noted that a modest crypto allocation can improve portfolio performance without taking on excessive risk.
Client response, he added, has been largely positive.
BBVA has executed crypto trades since 2021 and began active advisory services in late 2024. In March, Spain’s securities regulator authorised BBVA to offer trading in Bitcoin and Ether, with full mobile integration expected in the coming months.
The move aligns with the broader rollout of the EU’s Markets in Crypto-Assets Regulation (MiCA), which occurred at the end of 2024. Meanwhile, Santander is reportedly exploring the launch of euro and dollar-pegged stablecoins to expand its retail crypto services.
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OKX has expanded its European presence by launching fully compliant centralised exchanges in Germany and Poland. These new platforms offer access to over 270 cryptocurrencies, including more than 60 crypto-to-euro trading pairs.
Integrating the Single Euro Payments Area (SEPA) infrastructure allows seamless Euro deposits and withdrawals through bank transfers and local payment methods.
The expansion aligns with the European Union’s Markets in Crypto-Assets (MiCA) regulation, marking a significant step towards regulated crypto adoption in the region. OKX’s acquisition of the first full MiCA licence highlights its commitment to transparency and security, setting a standard for other crypto firms.
Germany is set to lead Europe in crypto growth by 2030, with Poland emerging as a key player thanks to pro-Bitcoin leader Karol Nawrocki. The compliant exchanges may attract increased institutional investment, challenging the view of crypto as an unregulated sector.
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Juventus have announced a new three-year sleeve sponsorship deal with cryptocurrency exchange WhiteBit, further strengthening their ties to the crypto sector. The agreement makes WhiteBit the official crypto exchange partner of the Serie A club, with its logo to appear on the men’s first team jerseys.
The deal, reportedly worth €5 million per season, includes exclusive digital content and joint initiatives designed to engage fans. WhiteBit takes over from asset management firm Azimut, which held the sleeve rights briefly following earlier crypto sponsors Bitget and Zondacrypto.
The partnership marks another strategic push by Juventus into the digital asset space. Earlier this year, crypto firm Tether increased its ownership stake in the club by over ten percent.
WhiteBit, meanwhile, has expanded its footprint in football through a partnership with Barcelona and was among the top ten crypto sponsors globally last season.
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The US Senate has passed the GENIUS Act, the first bill to establish a federal framework for regulating dollar-backed stablecoins. Passed with cross-party support in a 68–30 vote, the legislation marks a major win for the crypto industry, which has long sought clearer oversight.
The bill still requires approval from the House and a signature from President Trump. It would mandate that stablecoin issuers hold reserves in cash or US Treasuries, undergo audits, and disclose their holdings.
While it bans members of Congress and their families from profiting, the same restriction does not apply to Trump and his family — a point of contention among Democrats.
Circle and other crypto firms welcomed the move. Meanwhile, major players like Bank of America, Amazon, and Walmart are exploring their stablecoin offerings. Trump has also backed a new coin, USD1, through his startup World Liberty Financial.
If the legislation becomes law, it could transform payments by encouraging new issuers, reducing reliance on traditional card networks, and expanding global access to digital dollars. US Treasury Secretary Scott Bessent believes the market could surpass $2 trillion by 2028.
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JPMorgan Chase has filed a trademark application in the US for ‘JPMD’, a name set to cover a wide range of cryptocurrency-related financial services. The new trademark covers digital asset trading, payments, transfers, custody, brokerage, and real-time token transactions.
The move indicates the banking giant may be preparing to deepen its involvement in blockchain-powered financial infrastructure.
The filing follows recent developments in JPMorgan’s blockchain division, Kinexys. It successfully tested a transaction involving tokenised US Treasuries (OUSG) via Ondo Finance, with Chainlink’s CRE facilitating asset movement.
Despite CEO Jamie Dimon’s ongoing scepticism toward Bitcoin, the bank appears to be adapting to the digital asset economy. Dimon stated he would allow clients to access Bitcoin, though JPMorgan would not provide custody services for the asset.
With BTC currently hovering around $107,000, the bank’s strategic branding and blockchain experimentation suggest a growing, if cautious, embrace of crypto services in traditional finance.
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Brazilian lawmaker Eros Biondini has introduced a draft bill aiming to eliminate cryptocurrency taxes, especially for those holding Bitcoin as a long-term store of value. The proposal seeks to repeal clauses in the tax code and a 2023 law that currently require income tax on crypto profits.
The bill will be reviewed by a committee in the Chamber of Deputies before potentially moving to the Senate and the President, who both hold veto powers.
Biondini argues that new taxes on financial transactions, including foreign exchange and insurance, are poorly timed amid economic fragility. He highlights that Brazil’s tax burden reached its highest in 15 years, amounting to 32.32% of GDP in 2024.
The lawmaker criticised the government for opposing crypto adoption, claiming that existing and proposed tax laws unfairly penalise people seeking safe, sovereign stores of value.
Previously, Biondini also pushed for formal recognition of Bitcoin as a strategic store of value in Brazil. His earlier proposal would exempt Bitcoin holders from tax and confirm their right to self-custody without intermediaries.
In November last year, he unveiled a plan to allocate up to 5% of Brazil’s $372 billion international reserve fund into Bitcoin, signalling a bold approach to national economic sovereignty.
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