Several key developments have shaped the crypto landscape this week, offering fresh insights and potential shifts in the market. Arthur Hayes predicts a Bitcoin breakout amid rising yields, while the U.S. Department of Justice ends its crypto enforcement unit, boosting the industry. Ukraine has also proposed a new crypto tax framework to streamline its digital economy. Additionally, experts suggest that ongoing macroeconomic turmoil could spark a Bitcoin boom as investors seek stability in digital assets. Now, let’s take a closer look at other important stories.
China and Russia Begin Settling Energy Trades in Bitcoin
China and Russia have reportedly begun settling certain energy transactions using Bitcoin, marking a historic move in global finance. According to investment firm VanEck, this represents a major shift away from the U.S. dollar-dominated financial system.
The groundbreaking move signals a growing trust in Bitcoin as a neutral and decentralised financial asset. It is becoming especially valuable for cross-border commerce among nations facing financial restrictions.
VanEck’s Head of Digital Assets Research, Matthew Sigel, emphasised that Bitcoin adoption has evolved beyond speculation, noting similar actions by Bolivia and interest from France’s EDF in monetising excess energy via Bitcoin mining.
As global trade tensions rise, countries are increasingly turning to digital assets like Bitcoin to hedge against monetary instability and circumvent traditional finance barriers.
Paul Atkins Confirmed as New SEC Chair, Promises Pro-Crypto Reforms
In a latest regulatory development, Paul Atkins has been confirmed as the new Chairman of the U.S. Securities and Exchange Commission (SEC) in a 52-44 Senate vote. A known advocate for blockchain innovation, Atkins succeeds Gary Gensler. He is expected to take a more constructive stance toward crypto regulation.
With previous roles at the SEC and in crypto advisory circles, Atkins brings both experience and industry insight. He has pledged to introduce clear, innovation-friendly rules and reduce political bias in regulatory decisions.
Atkins’ confirmation is seen as a significant win for the digital asset space. It has the potential to influence global regulatory trends and accelerate worldwide adoption of crypto technologies.
Strategy Doubles Down on Bitcoin Amid Market Turmoil
Michael Saylor’s firm, Strategy, is making headlines with its strong commitment to Bitcoin. On March 31, the company purchased over 22,000 BTC, boosting its total holdings to 528,185 BTC.
Saylor’s relentless accumulation comes at a time when critics warn that a major Bitcoin correction is inevitable. But rather than flinch, Saylor continues to buy the dip, demonstrating deep conviction in Bitcoin’s long-term potential as a store-of-value asset.
Analysts see this as more than just a bullish play—it’s a strategic move by someone who fully understands the long game.
SEC Hosts Crypto Roundtable on Temporary Regulations
The SEC held its second crypto roundtable on April 11, indicating a more flexible regulatory direction under Acting Chair Mark Uyeda. Titled “Between a Block and a Hard Place,” the session focused on the evolving regulatory landscape for crypto. It discussed the possibility of provisional, time-limited frameworks that could enable blockchain innovation while final rules are developed.
Uyeda encouraged crypto firms to suggest areas where regulatory exemptions could be applied, signalling openness to collaboration. The roundtable featured leaders from Uniswap, Coinbase, and Cumberland DRW. The SEC’s new approach, combined with recent lawsuit dismissals, reflects a pivotal shift toward regulatory clarity and industry inclusion.
Stay informed,
Rodcas Consulting Group