Aug 2, 2026
The SEC has halted Nasdaq's approval of QBTC Bitcoin options to reconsider the decision after CME Group filed a legal challenge, arguing the approval process was flawed and gave Nasdaq an unfair competitive advantage.
New Hampshire's five-member Executive Council voted 3-2 to reject a proposed $100 million Bitcoin-backed municipal bond that would have been the first of its kind in the nation. Despite supporters arguing it posed no taxpayer risk, the council declined to attach the state's name to the volatile asset.
More than 16 months after President Trump ordered the creation of a Strategic Bitcoin Reserve, the initiative remains unrealized as the Treasury and Commerce departments dispute which agency should oversee the reserve holding seized Bitcoin assets.
A court in Qingdao, China sentenced a man surnamed Zhang to 10 years and nine months in prison for stealing 107 Bitcoin from victim Feng after memorizing most of the 12-word wallet recovery phrase. The ruling establishes legal precedent by treating Bitcoin as property under Chinese law.
A New York judge temporarily halted a lawsuit over 39,000 dormant Satoshi-era Bitcoin wallets worth approximately $285 billion, where plaintiffs claim ownership under lost-property laws. The case involves wallets that have been inactive for over 14 years, with at least one address receiving legal notice via Bitcoin's OP_RETURN field demanding proof of ownership.
Treasury Secretary Scott Bessent testified that the department is proceeding with "deliberate speed" on establishing a Bitcoin reserve, while Representative Nick Begich introduced legislation to formally create a Strategic Bitcoin Reserve within the Treasury Department.
The Commodity Futures Trading Commission approved the first bitcoin perpetual futures contracts on U.S. regulated exchanges, with Kalshi and Coinbase Financial Markets receiving clearance to offer these products domestically. The landmark approval opens a product class that American traders have long accessed only through offshore platforms.
Rep. Nick Begich (R-AK) introduced the American Reserve Modernization Act of 2026, bipartisan legislation that would lock existing U.S. government bitcoin holdings into a strategic reserve for at least 20 years. The bill notably drops earlier proposals to purchase 1 million BTC, focusing instead on preserving current holdings.
The Czech National Bank, the first central bank to test bitcoin for reserves, concluded its study after purchasing $1 million in BTC in October. While finding bitcoin more efficient than stocks and gold, the bank determined it is too risky for sovereign reserve holdings.
Patrick Witt, Executive Director of the President's Council of Advisors for Digital Assets, indicated that a major announcement regarding Trump's strategic bitcoin reserve initiative is coming within weeks, stating that legislation is progressing through Congress.
Senators Bill Cassidy and Cynthia Lummis introduced legislation aimed at reshoring Bitcoin mining equipment manufacturing and codifying the Strategic Bitcoin Reserve, addressing the fact that 97% of mining machines are made by Chinese companies despite the US hosting 38% of global hashrate.
Draft legislation circulating among stakeholders would create a de minimis tax exemption for dollar-pegged stablecoin transactions, but explicitly excludes Bitcoin and other cryptocurrencies, drawing criticism from Bitcoin advocates who argue the bill 'picks winners and losers.'
President Donald Trump signed an executive order creating a U.S. Strategic Bitcoin Reserve and digital asset stockpile using cryptocurrencies already owned by the government through law enforcement seizures, rather than purchasing new tokens. The reserve comprises approximately $17 billion in Bitcoin seized in enforcement actions.