Gate Cryptocurrency News and Market Analysis

The Strait of Hormuz saw shipping traffic plummet 95% due to US-Israel military operations, triggering severe volatility in global energy markets. Gold fell for seven consecutive days, silver declined over 13%, while Bitcoin showed relative resilience, revealing different asset reactions during crises. International response measures to ensure shipping lane safety remain unclear, with the energy supply crisis signaling prolonged price increases.

SEC Chair Paul Atkins stated that only one class of crypto assets is subject to securities laws, with most digital assets falling outside its jurisdiction, and emphasized that different regulatory approaches will be adopted. As the CLARITY Act advances, legislation is critical to providing a durable framework for crypto regulation. Stablecoin regulatory issues remain unresolved, with obstacles existing before the bill passes, but progress is optimistic.

Kentucky's HB380 Bill adds Section 33, requiring cold wallet providers to assist users in resetting access credentials. This contradicts the design principles of non-custodial cold wallets, which should not allow third parties to access private keys. This requirement could undermine cold wallet security and force users toward centralized institutions, creating a conflict that contradicts the already-enacted HB701 bill. Additionally, U.S. states are further tightening regulations on cryptocurrency ATMs.