[News Brief] Jul 20, morning | Nigerian President Signs Executive Order to Coordinate Virtual Asset Regulation

Nigerian President Signs Executive Order to Coordinate Virtual Asset Regulation

According to Odaily, Nigerian President Bola Ahmed Tinubu has signed an executive order to coordinate the regulatory framework for virtual assets.

The executive order is intended to strengthen cooperation among financial, tax, and capital market authorities and streamline fragmented digital asset regulation.

Under the order, a virtual asset committee will be established with the heads of Nigeria’s key financial regulatory agencies participating to coordinate related policy direction.

Nigeria’s tax authority is expected to revise its digital asset policy and provide additional details on the impact on taxpayers.

Presidential spokesman Bayo Onanuga said the measure does not create a new regulator or transfer authority between agencies, and that each institution’s legal powers and independence will remain intact.

According to the International Monetary Fund’s June report, about 60% of stablecoin inflows into Sub-Saharan Africa since 2019 have occurred in Nigeria. From July 2023 to June 2024, Nigeria’s virtual asset inflows were estimated at about $59 billion.

Vanguard ETF Buys Additional 83,093 Shares of Strategy

According to Odaily, Vanguard Group’s Mid-Cap Value ETF (VOE), part of the $12 trillion asset manager, purchased an additional 83,093 shares of Strategy (MSTR), the bitcoin treasury company.

The purchase was valued at $8.16 million. As a result, VOE’s total holdings in Strategy rose to 2.12 million shares, valued at $209 million.

Vanguard Group is the world’s second-largest asset manager. Strategy is widely regarded as a representative listed company that has adopted bitcoin as a major treasury asset.

BitMine’s ETH Holdings Rise to 5.78 Million, Equal to 4.8% of Circulating Supply

According to Odaily, ethereum treasury company BitMine said its ETH holdings have increased to 5.78 million, accounting for about 4.8% of Ethereum’s circulating supply.

BitMine said it is nearing its goal of accumulating 5% of total ETH and purchased an additional 7,430 ETH over the past week.

The value of the company’s cryptocurrency, cash, and marketable securities was estimated at $11.5 billion. This includes 207 BTC and $385 million in cash and securities.

BitMine said about 4.9 million ETH, or roughly 85% of its treasury ETH holdings, are being staked through validator networks and partners.

The company also repurchased 5.5 million shares last week under its previously approved $4 billion share buyback program. Earlier, BitMine disclosed that institutional staking platform Maven 11 generated $45.7 million in staking and validation revenue during the three months ended May 31.

Hut 8 and IREN Secure Major AI Infrastructure Contracts

According to Wu Blockchain, bitcoin mining companies Hut 8 and IREN have secured major AI infrastructure contracts.

Hut 8 signed an additional 15-year AI data center lease agreement to commercialize a 1GW facility at its Vega Point campus in Texas. The contract is valued at $9.8 billion.

IREN secured a multi-year AI cloud contract worth $2.8 billion and raised its annualized AI cloud revenue target for the end of 2026 to more than $4 billion.

These deals reflect a broader trend of bitcoin mining companies expanding revenue sources from mining-focused operations into AI infrastructure.

Vietnam to Fine Investors Trading on Unlicensed Virtual Asset Platforms

Vietnam will impose fines of up to 50 million dong, about $1,900, on investors who trade on unlicensed virtual asset platforms.

According to Wu Blockchain, ahead of the launch of its digital asset market, Vietnam announced Decree No. 284/2026/ND-CP, which sets out administrative penalties for violations related to virtual assets.

Under the new rules, unauthorized token issuance or serious anti-money laundering violations may face fines of up to 200 million dong, about $7,700. The decree will take effect on Sept. 1.

Vietnam previously ranked fourth globally in Chainalysis’ 2025 Global Crypto Adoption Index.

Coinbase Vice Chair: Clarity Act Strengthened Consumer Protections Through Democratic Concessions

According to Bitcoin Magazine, a Coinbase vice chair said on CNBC that the Clarity Act, a U.S. crypto market structure bill, was further strengthened as Democrats secured meaningful concessions that enhanced already strong consumer protections.

The Clarity Act seeks to clarify regulatory authority and market oversight for crypto assets, and the industry is closely watching whether it will reduce regulatory uncertainty.

SEC Sues Bright Vision Distribution Over Alleged Crypto Mining Investment Fraud

The U.S. Securities and Exchange Commission (SEC) has sued Florida resident Jan Shaikh and his company Bright Vision Distribution over alleged crypto mining investment fraud, according to PANews.

According to the SEC, from June 2023 to May 2025, Shaikh and the company promoted a venture called “Mining Automatic,” telling investors they would receive fixed monthly returns by participating in a mining business.

The SEC said they raised about $22 million from more than 380 investors, but used only about 13% for mining-related expenses, while the rest was spent on marketing, personal expenses, and unrelated business costs.

The SEC filed the lawsuit in the U.S. District Court for the District of Massachusetts, and the defendants agreed to a consent judgment that includes injunctions against future securities law violations and a bar on Shaikh serving as an officer or director. The amounts of disgorgement, interest, and civil penalties will be determined by the court later.

2,055 BTC Transferred From Anonymous Wallet to Kraken

Source: Whale Alert. On July 20 (local time), 2,055 BTC, worth about $134.43 million, was transferred from an anonymous wallet to Kraken.

Inflows to exchanges are often interpreted as potential sell pressure, though any actual sale has not been confirmed.

1,160 BTC Transferred From Anonymous Wallet to Coinbase Institutional Account

According to Whale Alert, on July 20 (local time), 1,160 BTC was transferred from an anonymous wallet to a Coinbase institutional account.

The transfer was worth about $75.98 million. Large movements to exchange or institutional accounts may indicate selling or custody activity, and the market is watching the fund flows closely.

Source: Whale Alert

Bitcoin 30-Day Implied Volatility Index Trades in 34%–38% Range

According to CoinDesk, market analysts said bitcoin may be entering a period of rising short-term volatility.

The analysis is based on the Bitcoin 30-day implied volatility index (BVIV), often referred to as the crypto market’s “fear gauge,” which moves with options demand.

BVIV is currently fluctuating in the 34%–38% range. In the past, this range has often preceded volatility expansion and bitcoin price corrections.

The market is focusing on the possibility of mean reversion, with volatility potentially rising again after a period of subdued movement.