Pakistan's central bank has opened its banking system to licensed virtual asset service providers, reversing a previous ban. This change, following the Virtual Assets Act 2026, allows crypto businesses access to banking services under strict regulations.

The European Commission ordered Google to share its core search data with competitors and AI chatbots under the Digital Markets Act. This aims to foster competition by giving AI services like ChatGPT access to valuable user data. Google plans to oppose the ruling, citing privacy concerns.

JPMorgan's recent report indicates that negotiations on the U.S. CLARITY Act are close to finalization, with only 2-3 issues remaining. The act seeks to clarify regulations for digital assets but lacks a formal text and scheduled vote, leaving its future uncertain, especially if political shifts occur in 2026.

House Republicans proposed the Deterring American AI Model Theft Act to target Chinese and Russian entities misusing U.S. AI models. The bill, under review, may lead to sanctions or blacklisting, potentially accelerating China's tech self-reliance despite the U.S.'s ongoing chip advantage.

A White House report argues against banning stablecoin yields, highlighting minimal benefits for bank lending and reduced consumer earnings. Key officials support the CLARITY Act, but the Senate Banking Committee's timeline remains uncertain, affecting the bill's chances before summer recess.

Senate Banking Committee Chair Tim Scott has delayed advancing the CLARITY Act due to unresolved issues, including stablecoin disputes and DeFi provisions. With a critical May deadline approaching, the bill's future remains uncertain amid political challenges.

On April 15, 2025, the USDC Treasury minted 250 million USDC on Ethereum, indicating potential institutional demand. USDC is backed by dollar reserves and operates under regulatory frameworks like the U.S. Stablecoin Act of 2024.

U.S. Representative reintroduces the “Digital Asset Protection Act,” revises the treatment of cryptocurrency taxation, removes the tax-exempt threshold for small transactions, clarifies the conditions for recognizing gains from stablecoin transactions, and sets rules for determining cost basis. Industry expects the bill to drive the inclusion of crypto provisions in tax legislation.

Gate News message: On April 13, U.S. Senator Cynthia Lummis posted on social media, saying that the previous administration caused a flight of the digital asset industry. She emphasized that now is the time to set clear regulatory rules for the digital asset industry, welcome it back to the U.S., and urged that the Clarity Act be passed as soon as possible.

U.S. Senator Cynthia Lummis is calling for advancing the 《CLARITY Act》 legislation as soon as possible, warning that otherwise it may take nearly four years to restart the regulatory framework. The bill is intended to provide a clear regulatory structure for the crypto industry and to promote innovation and market development. Multiple industry figures and regulators support the legislation, emphasizing the need to avoid regulatory uncertainty.