Nigeria mandates crypto platforms to pay taxes in digital tokens

Senate Majority Leader John Thune reaffirms that a floor vote on the CLARITY Act is expected this week, despite the Senate having only four legislative days remaining before its August recess. This pivotal legislation aims to provide regulatory clarity for the cryptocurrency industry, addressing a critical pain point that has lingered for years. Thune's latest statement follows a pattern of previous promises and walkbacks, with similar assurances made as recently as July 23. The passage of the CLARITY Act would mark a significant milestone for the U.S. crypto ecosystem, potentially establishing a clear regulatory framework that protects innovation while ensuring consumer safeguards. The cryptocurrency market is watching closely, as regulatory clarity could drive institutional adoption and attract new investors to the space.

Iran and Oman are on the verge of a landmark agreement that would grant them control over maritime traffic in the strategically vital Strait of Hormuz, with plans to implement 'service fees' for vessels transiting through this critical global oil shipping chokepoint. This pact, which could reshape international shipping norms and economic dynamics in the region, represents a significant shift in the maritime power balance in the Persian Gulf. If implemented, the measure would directly impact global energy supply routes to markets including Europe and Asia, and could accelerate cryptocurrency adoption as an alternative for international transactions in response to potential disruptions in the traditional financial system.

A Texas audit is causing significant delays in expansion projects within the cryptocurrency sector, directly benefiting established companies like Iris Energy and Riot Platforms. These delays create a barrier to entry for new competitors, strengthening the market position and competitive advantage of existing operators.

The current landscape in Texas, known for its favorable environment for Bitcoin and cryptocurrency mining, is becoming even more advantageous for sector giants. With expansion temporarily frozen, Iris Energy and Riot Platforms can consolidate their infrastructure, optimize operations, and capture greater market share before competition intensifies again.

Bhutan's Gelephu Mindfulness City (GMC) is revolutionizing its Bitcoin strategy by announcing that 3iQ will manage part of its cryptocurrency treasury on a market-neutral basis. This initiative marks a significant shift in the nation's digital asset approach, moving from simple long-term holding to more active and strategic management of the 10,000 BTC pledged by the country. This strategic partnership with 3iQ positions Bhutan as an innovative pioneer in sovereign Bitcoin adoption, combining Buddhist tradition with cutting-edge financial technology. The market-neutral management will allow the country to potentially generate passive income from its Bitcoin reserve without exposing itself to extreme market volatility, setting a precedent for other nations considering sovereign cryptocurrency reserves.

Judge Jed S. Rakoff denied without prejudice an emergency Commodity Futures Trading Commission (CFTC) request for a temporary restraining order that would have blocked New York from pursuing its enforcement case against prediction market operator Kalshi. The ruling leaves New York's case against Kalshi in place while allowing the CFTC to renew its request before Judge Victor Marrero on Friday, Aug. 7. This legal battle represents a significant challenge for the cryptocurrency and prediction market industry, with the New York State Gaming Commission having issued Kalshi a cease-and-desist order in October 2025.