Altcoin Daily
The Treasury is withdrawing proposed rules targeting unhosted wallets and mixers, removing two long-running compliance threats for crypto users and developers. The same market update noted that Bitcoin ETPs have attracted nearly $60 billion since January 2024, even as AI and technology stocks weaken.
Why it matters
The unhosted-wallet proposal could have imposed additional requirements on transactions involving self-custodied wallets. A separate rule would have treated certain privacy practices, including not reusing addresses, as a primary money-laundering concern. Their withdrawal reduces regulatory uncertainty around ordinary Bitcoin use and self-custody.
The broader policy direction is also shifting toward clearer rules, with the SEC and CFTC described as advancing new crypto frameworks. That combination could give institutions and developers more confidence to build, although the proposed withdrawals do not remove every regulatory risk.
Market impact
Solana's fundamentals are strengthening despite muted price action. Application revenue rose 48% quarter over quarter, tokenized equities reached $7.1 billion for the quarter, spot decentralized exchange volume hit $197 billion, and the network processed a record 14.2 billion transactions. Bittensor's null consensus update also expands subnet capacity from 256 to more than 2,500 participants, widening the potential reach of decentralized AI workloads.
Bitcoin is showing relative resilience as oil tops $110 and geopolitical risk pressures stocks. A stock-market pullback could still weigh on BTC, but holding a higher low after crypto corrected ahead of equities would strengthen the bullish case. The key signal is whether Bitcoin can absorb broader risk-off pressure while network and regulatory fundamentals continue improving.
Frequently asked questions
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Which crypto rules is the Treasury withdrawing?
The Treasury is withdrawing proposed rules targeting unhosted wallets and mixers. The proposals had created compliance concerns around self-custody and privacy practices.
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How much capital has flowed into Bitcoin ETPs since January 2024?
Bitcoin ETPs have attracted nearly $60 billion in assets since January 2024.
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What Solana metrics improved in the update?
Solana application revenue rose 48% quarter over quarter, tokenized equities reached $7.1 billion, spot DEX volume hit $197 billion and the network processed 14.2 billion transactions.
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What did Bittensor's null consensus update change?
The update expands subnet capacity from 256 to more than 2,500 participants, allowing subnet owners to support larger groups of miners for workloads such as inference and compute.
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Why could Bitcoin remain resilient during a stock-market pullback?
Bitcoin has already corrected ahead of equities, while its network and regulatory fundamentals are improving. Holding a higher low as stocks retreat would reinforce the bullish market structure.
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