OKX Releases PoR Report, Promises to Migrate Ethereum to Poseidon Hashing to Optimize zk-prover Friendliness

According to Solid Intel, Oklahoma's Strategic Bitcoin Reserve Act (HB 1203) has passed the State House Government Oversight Committee and will be submitted

Today's news tips:

* **Regulatory/Macro**

> Oklahoma Bitcoin Reserve Bill Passes Committee

According to Solid Intel, Oklahoma's Strategic Bitcoin Reserve Act (HB 1203) has passed the State House Government Oversight Committee and will be submitted to the full legislature for a vote. The bill allows up to 10% of public funds to be invested in Bitcoin or digital assets with a market value of more than $500 billion.

* US lawmakers propose tighter cryptocurrency ATM regulation, capping transactions and requiring anti-fraud measures

According to Decrypt, Illinois Senator Dick Durbin proposed the Cryptocurrency ATM Anti-Fraud Act, which aims to curb the growing problem of crypto ATM fraud. The bill proposes to set a transaction limit of $2,000 per day and $10,000 within 14 days for new users, and requires operators to contact users directly for verification when transactions exceed $500 to prevent fraud. In addition, the bill also stipulates that operators must provide a full refund to victims who report fraud within 30 days. Durbin emphasized that the bill is a "common sense safeguard" to prevent fraud and protect the property safety of the elderly. According to data from the U.S. Federal Trade Commission (FTC), fraud losses involving crypto ATMs in 2023 have exceeded $110 million, nearly tenfold from 2020.

* Hong Kong to issue second virtual asset policy statement

According to a Hong Kong government news release, Hong Kong Financial Secretary Paul Chan announced in the 2025-26 Budget that he will soon publish a second policy declaration on the development of virtual assets to explore how to combine the advantages of traditional financial services with technological innovation in the field of virtual assets, and to improve the security and flexibility of real economic activities. He will also encourage local and international companies to explore the innovation and application of virtual asset technology. Paul Chan reiterated that the Hong Kong government will consult on the licensing system for virtual asset over-the-counter trading and custody services within the year. In terms of stablecoin supervision, the Hong Kong government has submitted a draft bill to the Legislative Council. After the bill is passed, the HKMA will review the license application as soon as possible.

* Beijing No. 3 Intermediate People's Court and the National People's Congress held a research and demonstration meeting on the disposal of virtual currencies

According to an announcement from the Beijing No. 3 Intermediate People's Court, the Beijing No. 3 Intermediate People's Court and Renmin University of China recently jointly held a thesis-opening seminar for the Supreme People's Court's 2024 major judicial research project "Research on the Disposal of Virtual Currency Involved in Cases". Representatives of political and legal organs such as the Supreme People's Court, the Supreme People's Procuratorate, and the Ministry of Public Security, as well as experts from academia and corporate institutions attended the seminar. The meeting discussed the disposal path of virtual currencies involved in the case and the construction of a future regulatory system, and emphasized that research results must be combined with judicial practice to help national financial security. Zhai Chao, deputy director of the Third Criminal Division of the Supreme People's Court, suggested that the research highlight its characteristics and adapt to practical needs. In the future, the research team will deepen research and cooperate with political and legal organs and financial regulatory departments to promote the improvement of virtual currency supervision and judicial adjudication rules.

* **SEC ends investigation into Uniswap Labs without taking enforcement action**

According to Uniswap Labs' announcement, the U.S. Securities and Exchange Commission (SEC) has officially ended its multi-year investigation into it without taking any enforcement action. Previously, the SEC had issued a Wells notice to Uniswap Labs, accusing it of operating an unregistered securities exchange, engaging in unregistered brokerage or clearing business, or issuing unregistered securities. The end of this investigation is seen as an affirmation of the compliance of decentralized finance (DeFi). Uniswap Labs said it will continue to dialogue with regulators to promote the healthy development of the DeFi industry, and is committed to improving market transparency, reducing transaction costs, and reducing dependence on intermediaries.

* SEC confirms receipt of Grayscale Ethereum spot ETF pledge application

According to Watcher.Guru, the U.S. Securities and Exchange Commission (SEC) has officially confirmed receipt of an application submitted by Grayscale to allow its Ethereum spot ETF to provide staking services.

* **Financing**

DePIN project Geodnet completes $8 million financing, Multicoin Capital leads the investment

GEODNET, a decentralized network hardware infrastructure company, announced that it has completed a strategic financing of US$8 million, led by Multicoin Capital, with participation from ParaFi and DACM, bringing its total financing to US$15 million. The financing will be used to expand its global real-time dynamic positioning (RTK) network and support the development