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📰 TOP NEWS
Coinbase says deal reached on Clarity Act stablecoin yield, clearing path to long-stalled Senate markup
Sens. Thom Tillis and Angela Alsobrooks finalized a compromise on stablecoin yield under Section 404 of the Clarity Act, breaking a months-long Senate stalemate. The agreement prohibits crypto firms from offering direct interest or bank-like yield on stablecoins. However, it grants a key concession to the industry by allowing activity-based rewards linked to genuine platform usage, such as staking or market-making. This compromise protects the ability of major players like Coinbase to offer rewards based on real network activity. Additionally, the legislation mandates strict disclosures, explicitly forbidding stablecoins from being marketed as FDIC-insured investments, and establishes heavy civil penalties for any violations.
Leading Iranian crypto exchange Nobitex was founded by sons of elite political family tied to supreme leaders
A Reuters investigation revealed that Nobitex, Iran's largest cryptocurrency exchange handling about 70% of the nation's crypto activity, was founded by Ali and Mohammad Kharrazi—brothers from an elite political family tied to Iran's supreme leaders. Launched in 2018 using an alternative surname in corporate filings, the exchange serves nearly 11 million users and remains unsanctioned by Western governments. Blockchain analytics suggest hundreds of millions of dollars linked to sanctioned entities, including the IRGC, have moved through Nobitex. While the exchange denies government affiliation and claims any illicit activity occurs without management's knowledge, its continued high transaction volumes amid the U.S.-Israeli conflict have drawn concern from U.S. lawmakers.
Brazil central bank prohibits crypto use in regulated cross-border payments under new FX rules
The Banco Central do Brasil officially prohibited the use of cryptocurrencies in regulated cross-border payments through Resolution No. 561. The new rule mandates that international transfers must utilize traditional foreign exchange transactions or regulated Brazilian real accounts. While not an outright domestic ban on digital assets, the measure actively removes cryptocurrencies, including highly popular stablecoins, from the regulated cross-border eFX framework. Consequently, cross-border transfers previously facilitated by institutions supported through the RippleNet infrastructure are now strictly prohibited under this new regulation. The policy aims to ensure international financial flows remain within closely monitored, established channels. This regulatory tightening comes as Brazil, Latin America's largest crypto market, experiences surging digital asset adoption, with stablecoins currently accounting for roughly 90% of all domestic crypto flows.
Senate moves to ban themselves from prediction market trading amid insider concerns
The U.S. Senate unanimously passed a resolution barring its members from trading on prediction markets to address growing insider trading concerns. Sparked by alarming incidents, including an active-duty soldier recently arrested for allegedly using classified intelligence to net $400,000 on a Polymarket wager regarding Venezuela, the measure amends the Senate's standing rules effective immediately. Leading prediction platforms like Kalshi and Polymarket praised the resolution, noting it codifies rules already existing in their terms of service. This federal action aligns with recent state-level executive orders in New York and Illinois, which similarly prevent state employees from using non-public information on betting platforms.
🎟️ EVENT OF THE WEEK
Solana Accelerate USA @ Consensus 2026 Miami
Solana Accelerate returns to the United States with a stop in Miami, bringing its focus on builders, capital, and next-generation financial infrastructure. Taking place alongside Consensus 2026 Miami, the event taps into one of the busiest weeks on the global crypto calendar.
Miami is no longer just a leisure destination – it’s America 2.0: a convergence point for the future of capital and culture. Its dynamic rise makes it the perfect place to showcase Solana’s role in powering the proliferation of Internet Capital Markets.
Date May 5-7 2026
💬 EXPERT OPINION
The Industrial Revolution allowed us, for the first time, to start replacing human labour with machines."
📊 METRIC OF THE WEEK
Our researchers designed this metric with ❤️
GLOSSARY CORNER dApps are applications that run on decentralized peer-to-peer networks such as Ethereum. Ethereum is one of the most popular platforms for developer to develop on as it can store various types of information, making it viable for games, applications or various tools to exist. Decentralized apps typically rely on a blockchains consensus to finalize transactions/requests, which eliminates centralized points of failure (eg. rogue banker, failed servers). | EDITOR’S CHOICE |
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