X Platform to Launch Disclosure Requirements for Paid Promotions Including Kalshi and Polymarket Ads

Trump pressures the Big Seven tech giants to sign "bear the cost of electricity price hikes"! AI data centers consume 12% of electricity in the U.S., and voter anger is fueling the push.

In his State of the Union address, Trump announced the "Rate Protection Commitment," requiring the seven major tech giants to bear the electricity costs of data centers themselves, aiming to alleviate voter dissatisfaction caused by rising electricity prices. However, the commitment lacks legal binding force, and its enforcement mechanism is unclear, raising questions about its effectiveness. The electricity demand from data centers could lead to a 12% increase in nationwide electricity consumption, becoming a political focal point.

SEC submits cryptocurrency regulation framework to the White House; token classification system may reshape U.S. crypto market rules

The U.S. Securities and Exchange Commission (SEC) has submitted guidelines to the White House outlining the applicability of federal securities laws to digital assets, potentially establishing a "token classification system" that could impact the registration and regulation of crypto companies. The SEC and CFTC are simultaneously advancing policies to gradually clarify the compliance boundaries for digital assets and prediction markets.

FATF proposes granting more control rights to stablecoin issuers

The FATF recommends that countries mandate stablecoin issuers to integrate smart contract functions to prevent money laundering and illegal funding. It warns of vulnerabilities in unhosted wallets and the use of stablecoins by cybercriminals. Meanwhile, the European Central Bank raises concerns about stablecoins' impact on bank deposits and monetary policy. Despite this, USD-pegged stablecoin supply has risen significantly, with Tether holding the majority.

Kalshi refuses $54 million payout, insider trading controversy heats up in prediction markets

The prediction market platform Kalshi refused to pay users' expected $54 million payout, citing that its contract "exit" definition does not include assassination scenarios. The incident has sparked insider trading allegations against competitor Polymarket. U.S. senators plan to introduce legislation to ban prediction contracts related to government actions, arguing that such markets distort public judgment.

U.S. banking industry strongly opposes Kraken's access to the Federal Reserve, Trump angrily accuses of obstructing crypto agenda

Cryptocurrency exchange Kraken becomes the first company to hold a main account with the U.S. Federal Reserve, allowing direct settlement of USD transactions. However, this has sparked strong opposition from the banking industry, which is concerned about potential threats to financial stability. Stablecoins could lead to a $6.6 trillion outflow of deposits, affecting lending costs. Trump supports the crypto agenda, accusing banks of obstructing legislation, indicating his political stance and vested interests.

E-commerce giant Coupang begins building a legal team for stablecoin

Coupang Pay is expanding its legal team to pursue stablecoin ambitions, hiring a new attorney and a senior legal advisor focused on fintech regulations and global payment partnerships, especially in light of South Korea's evolving stablecoin framework.