[News Brief] Apr 22, morning | U.S. Senate to Vote on Kevin Warsh Fed Chair Nomination, Powell Press Conference Scheduled

The U.S. Senate will hold a floor vote on April 29 on Kevin Warsh’s nomination as Chair of the Federal Reserve. On the same day, the Federal Open Market Committee (FOMC) will announce its latest interest-rate decision, and Jerome Powell is scheduled to hold a press conference, leaving markets focused on both a potential leadership transition at the Fed and the future direction of monetary policy.

According to Odaily, Republican Senator Thom Tillis withdrew his plan to block Warsh’s confirmation process over the weekend after the Justice Department concluded its investigation related to Powell. The Senate Banking Committee subsequently advanced Warsh’s nomination to the full Senate by a vote of 13-11.

According to the U.S. Senate Banking Committee website, the vote is scheduled for 10:00 a.m. Eastern Time on April 29.

Later the same day, the FOMC will release its latest rate decision. Powell is expected to appear at a post-meeting press conference, which could become his 63rd and potentially final press conference as Fed Chair.

Powell’s term as Fed Chair ends on May 15, but his term as a Fed governor runs through January 31, 2028. Markets are also watching whether Powell will remain on the Board of Governors after stepping down as chair.

The White House has signaled that a 'major announcement' related to President Trump’s strategic Bitcoin reserve could come within the next few weeks.

According to PANewsLab, Patrick Witt, executive director of the White House’s Presidential Council of Advisers for Digital Assets, said at the Bitcoin 2026 event that the administration has been reviewing ways to protect and integrate digital assets—especially Bitcoin—on the government balance sheet since Trump signed an executive order last year establishing a strategic Bitcoin reserve.

He said a more concrete announcement on the matter could be made within the coming weeks.

Related legislation is also being revived in Congress. Senator Cynthia Lummis and Representative Nick Begich are reintroducing the former BITCOIN Act under the new name 'Modernizing America’s Reserves Act,' which proposes the budget-neutral purchase of 1 million Bitcoin over five years.

Begich had also separately said he would reintroduce the bill to codify Trump’s executive order into a permanent legal framework for a national Bitcoin reserve.

U.S. spot Bitcoin ETFs recorded $263 million in net outflows, ending a nine-session streak of net inflows.

On April 28, PANews, citing SoSoValue data, reported that U.S. spot Bitcoin ETFs saw total net outflows of $263 million based on the previous U.S. trading day.

The largest outflow came from Fidelity’s FBTC, which lost $150 million in a single day. Its cumulative net inflows stand at $10.883 billion.

Grayscale’s GBTC also posted net outflows of $46.6259 million, bringing its cumulative net outflows to $26.262 billion.

As of the time of reporting, the total net asset value of U.S. spot Bitcoin ETFs was $101.234 billion. ETF net assets accounted for 6.57% of Bitcoin’s total market capitalization, while cumulative net inflows stood at $58.301 billion.

Spot Bitcoin ETFs had previously recorded net inflows for nine consecutive trading sessions, raising expectations for improving market demand.

SEC Chair Paul Atkins and CFTC Chair Mike Selig said at the Bitcoin 2026 conference that U.S. digital asset regulation has entered a new phase.

According to Odaily, the two agencies said they are jointly advancing a regulatory framework for crypto assets and want to encourage related businesses to remain and grow in the United States.

They said jointly released guidance on token classification distinguishes among digital commodities, collectibles, and tokenized securities. Based on this framework, they intend to develop clearer and more forward-looking regulatory rules.

Atkins said the SEC is preparing to introduce an 'innovation exemption' and that within weeks, companies may be allowed to test on-chain tokenization and securitization tools in a regulated environment.

These remarks suggest that U.S. regulators are accelerating efforts to establish rules for digital assets and tokenized financial products.

President Trump has reportedly told aides that he is not satisfied with Iran’s latest proposal regarding the reopening of the Strait of Hormuz and ending the war.

According to The New York Times, sources said Trump told advisers that Iran’s latest proposal was difficult to accept. The proposal reportedly included reopening the Strait of Hormuz and bringing the war to an end.

The remarks are being interpreted as a sign that tensions in the Middle East have not fully eased. The Strait of Hormuz is a critical route for global oil shipments, and developments there could affect investor sentiment across risk assets, including Bitcoin and Ethereum.

Source: Odaily

China told the United Nations Security Council that disruptions to shipping through the Strait of Hormuz were caused by U.S. and Israeli military actions against Iran.

According to Odaily, China’s UN envoy Fu Cong said at a high-level open debate on maritime security that illegal military actions by the United States and Israel against Iran are the root cause of concerns over a possible closure of the Strait of Hormuz. He added that a comprehensive and lasting ceasefire should be achieved as soon as possible to resolve the issue.

The Strait of Hormuz is a key route for global crude oil transportation, and heightened tensions in the Middle East could affect international oil prices and broader risk-asset markets.

South Korea’s National Tax Service recovered KRW 33.9 billion in overseas tax arrears over the past nine months after introducing a new international cooperation system. Beginning next year, it will also collect reports on overseas crypto assets and receive related transaction data from 56 countries.

On April 28, PANewsLab, citing The Korea Times, reported that since the launch of the new system in July 2025, the National Tax Service has worked with tax authorities in three countries to collect KRW 33.9 billion (about $23 million) in unpaid taxes. This represents most of the KRW 37.2 billion recovered across borders since 2015.

The agency currently exchanges information with 163 countries and is strengthening efforts to trace hidden offshore assets. Starting next year, it plans to use a new crypto reporting framework to receive virtual asset transaction data from 56 countries for overseas crypto asset declarations.

It also plans to begin exchanging information on overseas real estate holdings and transactions from 2030. The move is seen as part of broader efforts to crack down on hidden foreign assets and offshore tax evasion.

The National Tax Service also said it participated for the first time in an overseas bankruptcy proceeding and secured creditor status in the bankruptcy case of a real estate developer that filed in Indonesia.

Japan has clarified rules on the use of crypto in real estate transactions and strengthened anti-money laundering obligations.

According to PANewsLab, Japan’s Ministry of Land, Infrastructure, Transport and Tourism, Financial Services Agency, National Police Agency, and Ministry of Finance issued a joint document stating that if a real estate business converts crypto into fiat currency or brokers such a conversion, the activity may fall under crypto asset exchange services. Operating without registration could violate the Payment Services Act, and suspected unlicensed crypto exchange activity must be reported to the police.

The document also states that when real estate businesses accept crypto payments, they must strictly comply with customer due diligence and transaction verification obligations under anti-money laundering laws, and promptly report suspicious transactions to the relevant authorities.

Additional obligations were also imposed on crypto exchange operators. If a customer is found to be paying a large real estate purchase price in crypto that does not match their known financial resources or profile, enhanced verification and reporting procedures must be followed.

In addition, individuals receiving more than JPY 30 million worth of crypto from overseas and non-residents acquiring real estate in Japan will be required to submit relevant reports.

The measures are seen as part of Japan’s efforts to more strictly manage money-laundering risks in crypto-related real estate transactions.

The U.S. crypto lobbying group Blockchain Association has backed removing 'reputational risk' from the Federal Reserve’s bank supervisory framework, arguing that the criterion has been used to restrict crypto firms’ access to banking services.

According to a Cointelegraph report cited by PANews on April 28, the Blockchain Association said in a letter to the Fed that because 'reputational risk' was removed from the June 2025 supervisory program, the change should also be clearly reflected in the final rules.

The group argued that the standard had been used as part of so-called 'Operation Chokepoint 2.0' to limit banking access for the crypto industry. It also said that judgments about reputational risk can vary depending on political leadership and policy direction, and that formally excluding the criterion would provide more neutral protection for the industry overall.

The Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) previously issued similar guidance on April 7. The Blockchain Association urged the Fed’s final rules to remain consistent with those agencies.

Block has launched a touchscreen-enabled Bitkey hardware wallet and added automatic Bitcoin purchase functionality to Cash App.

According to PANews on April 28, Jack Dorsey’s payments company Block unveiled a new hardware wallet, Bitkey, featuring a secure touchscreen. Bitkey supports a 2-of-3 multisignature structure, can be used without a seed phrase, and includes inheritance planning features. Pre-orders are now open.

Cash App has added a feature allowing users to automatically convert received peer-to-peer transfers into Bitcoin. It is also offering 5% Bitcoin cashback on purchases made with Square merchants. Withdrawal limits have been raised to $10,000 per day and $25,000 per week, and fees and spreads are waived for purchases above $2,000.

Block also published proof of reserves for the Bitcoin held by Cash App, Square, and its corporate treasury. Users can verify the holdings directly through on-chain signatures.

Square merchants now support NFC tap-to-pay with Bitcoin, with near-instant settlement via the Lightning Network. Related processing fees will be waived through 2026.

Previously, Block disclosed proof of reserves for approximately $2.2 billion worth of Bitcoin held by the company.