Odaily reports that Coinbase Markets announced on its X platform that the conversion from Maker (MKR) to Sky (SKY) is complete. Sending and receiving Maker (MKR) is now re-enabled.

Odaily reports that the Zcash Foundation has announced the formal conclusion of its multi-year investigation by the U.S. Securities and Exchange Commission (SEC), which has explicitly stated it will not recommend any enforcement action. The foundation stated that it received a subpoena related to "certain crypto asset offerings" in August 2023 and has now received notification of the case's closure from the regulator. An SEC spokesperson responded that the agency "does not comment on the existence of investigations." This closure comes against the backdrop of a shift in the SEC's enforcement approach towards the crypto industry. Over the past year, the SEC has withdrawn or terminated several cases, including one involving Coinbase, and investigations into some DeFi projects, a move seen as a contrast to its previously more aggressive regulatory stance.

Odaily Planet Daily reports that with the Senate Banking Committee hearings approaching, US crypto legislation has entered its final sprint. The bill has now seen over 70 amendments, with disagreements rapidly escalating over stablecoin yields and DeFi regulation, drawing involvement from the crypto industry, banking lobbying groups, and consumer protection organizations. The Senate will revise and vote on the bill on Thursday. The bill aims to clarify the regulatory boundaries between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), define the attributes of digital assets, and introduce new disclosure requirements. Committee Chairman Tim Scott released the 278-page bill text on Monday, after which senators from both parties submitted numerous amendments. Some proposals involve granting the Treasury Department the power to sanction "distributed application layers," while others focus on stablecoin yields, becoming the biggest point of contention. Coinbase CEO Brian Armstrong stated that his Stand With Crypto group will score Thursday's revision vote, saying it will test whether senators are "on the side of bank profits or on the side of consumer rewards." Industry insiders point out that while the bill still has momentum, its final direction remains highly uncertain.

Coinbase has announced it will not support the current version of the Senate cryptocurrency bill, according to Odaily. CEO Brian Armstrong posted on social media platform X that the bill is "worse than it is in its current form," and that he would rather "have no bill than a bad one." The Senate is scheduled to amend and vote on the bill on Thursday morning. Key provisions of the bill include clarifying the regulatory boundaries between the CFTC and SEC, defining when digital assets qualify as securities or commodities, and introducing new disclosure requirements. Armstrong pointed out significant problems with DeFi and stablecoin yields, warning that some provisions could grant the government "unrestricted access to personal financial records," harming user privacy and potentially "killing stablecoin reward mechanisms." Sources say Coinbase's public opposition has "significant implications" and could determine the bill's ultimate fate.

According to a recent report by JP Morgan, after reaching a record high of approximately $130 billion in 2025, funds flowing into the crypto market are expected to increase further in 2026, growing by about one-third year-on-year. Analysts believe that the new funds will be largely driven by institutional investors. JP Morgan stated that further clarification of crypto regulatory legislation, such as the US Clarity Act, is expected to promote institutional adoption of digital assets and drive VC investment, M&A, and IPO activities in areas such as stablecoin issuers, payment companies, exchanges, wallets, blockchain infrastructure, and custody. The firm's calculations incorporate multiple indicators, including ETF fund flows, CME futures implied fund flows, crypto VC fundraising, and Digital Asset Vault (DAT) purchases.