[News Brief] Jul 2, morning | U.S. Senate Expected to Release Final Draft of Bitcoin Clarity Bill

According to a report relayed by Pete Rizzo citing Bloomberg, the U.S. Senate is expected to release the final draft of the Bitcoin Clarity Bill within the next few days.

The report said the final text could be released during the U.S. Independence Day holiday period.

The bill is part of broader discussions aimed at clarifying the cryptocurrency regulatory framework in the United States, and the market is closely watching whether it will help reduce legal uncertainty surrounding digital assets.

Source: Watcher.Guru

U.S. Securities and Exchange Commission Chair Paul Atkins said the agency is modernizing relevant regulations to bring financial markets on-chain.

The remarks are being interpreted as part of U.S. financial regulators’ efforts to update rules so that digital assets and tokenized financial infrastructure can be incorporated into mainstream markets.

According to Watcher.Guru, Binance has received official approval to provide cryptocurrency services in the Philippines.

The approval gives Binance a foundation to offer related services within the local regulatory framework.

A U.S. Securities and Exchange Commission official acknowledged that shortcomings in previous crypto ETF approval procedures damaged industry trust.

According to PANews, Brian Daly, head of the SEC’s Division of Investment Management, said in a program that the SEC is handling around 200 ETF applications per month, including innovative products such as prediction markets, and aims to establish a more orderly and asset-neutral approval framework.

Daly added that the SEC is pursuing both investor protection and support for financial innovation, and is also reviewing a confidential filing process to prevent rapid copying of product ideas.

According to Whale Alert, 2,044 BTC (about $126,146,974) was transferred from an unknown wallet to cryptocurrency exchange Kraken.

Inflows to exchanges are sometimes interpreted as a sign of potential selling pressure, but the specific purpose of this transfer has not been confirmed.

Source: Whale Alert. 1,631 BTC (about $100.56 million) was transferred from an unknown wallet to Galaxy Digital.

This transfer qualifies as a whale transaction worth more than $10 million. However, the purpose of the transfer and whether it was related to selling remain unconfirmed.

Whale Alert said 1,004 BTC was transferred from an anonymous wallet to Coinbase.

The transfer was worth about $62.1 million. Large inflows to exchanges are generally interpreted as a possible sign of selling activity.

JPMorgan warned that Michael Saylor’s Strategy is becoming a new source of risk for the Bitcoin market.

According to Watcher.Guru, JPMorgan, which manages $4.7 trillion in assets, said that the Bitcoin-focused strategy led by Saylor could increase market risk.

Strategy is known for its large-scale Bitcoin acquisition and holding strategy, and its actions have long been viewed as a key factor affecting Bitcoin investor sentiment.

According to CoinGlass, total liquidations in the cryptocurrency futures market reached about $585 million over the past 24 hours.

About 130,500 traders were liquidated. Of the total, long liquidations accounted for about $184 million, while short liquidations totaled about $400 million.

Chinese public security officials published a technical paper outlining investigative procedures for tracing, seizing, and freezing assets in cryptocurrency-related cases.

According to Odaily, the South China Morning Post reported that Sun Shengbin of the Wenzhou Public Security Bureau and Lou Yandi of the Criminal Investigation Corps of the Zhejiang Provincial Public Security Department, among others, published the paper in the June 4 issue of the journal Criminal Technology.

The paper explained that investigators can identify assets by examining private keys, seed phrases, screenshots, and chat records on mobile phones, computers, and hardware wallets. If direct access to the keys is not available, they can still trace assets using blockchain transaction records, cross-chain transfer routes, mixer fund flows, and exchange real-name information.

It added that once assets are identified, authorities can transfer them to a controlled wallet after changing the private key, or freeze accounts in cooperation with exchanges. The paper emphasized separating private key custody from case handling and keeping a complete management record.