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29 Mar 2026, 08:42

Crypto Giant Bitmain Faces Scrutiny As US Senator Flags Trump Family Ties

A federal investigation into a Chinese hardware maker sits unresolved, its outcome unknown to the public. That uncertainty is now drawing fire from Capitol Hill — and putting US President Donald Trump’s family in the middle of it. Security Probe Stretches Back To Biden White House Senator Elizabeth Warren wrote to Commerce Secretary Howard Lutnick Thursday, asking for internal documents and communications tied to Bitmain Technologies, the Beijing-based company that makes a dominant share of the world’s bitcoin mining machines. According to Bloomberg, which first reported the letter, Warren wants to know what the department has done to address what she called “potential national security concerns” — and whether business ties to the Trump family have shaped any of those decisions. The federal probe Warren is pressing on has a name: Operation Red Sunset. Led by the Department of Homeland Security, it examined whether Bitmain’s ASIC mining rigs could be remotely manipulated for espionage or used to knock out parts of the US power grid. The investigation was launched under the Biden administration and carried into the opening months of Trump’s current term. Based on Bloomberg’s November 2025 reporting, its status remains unresolved. The security questions around Bitmain did not start with Operation Red Sunset. A Senate Intelligence Committee report from July 2025 concluded that Bitmain hardware “can be forced by the PRC to turn over data” under China’s national security law. A year earlier, a federal review ordered the divestment of a mining operation near Wyoming’s Francis E. Warren Air Force Base over what officials described as significant national security concerns tied to foreign-made equipment. Trump Sons Spent $314 Million On The Same Rigs Under Scrutiny What sharpens the political edge of Warren’s letter is who has been buying Bitmain hardware in bulk. American Bitcoin Corp., co-founded by Eric Trump and Donald Trump Jr. in a joint venture with mining company Hut 8, signed a contract in August 2025 to acquire 16,000 Bitmain machines for $314 million, paid in pledged bitcoin rather than cash. That deal came from SEC filings cited by Bloomberg. The company has since grown its fleet considerably. Reports indicate American Bitcoin added another 11,298 machines earlier this month, bringing its total to roughly 89,000 rigs producing about 28.1 exahashes per second of mining power. Its bitcoin treasury has reached around 6,900 BTC — worth approximately $462 million at current prices. Warren’s letter asks Lutnick directly what steps his department has taken to keep national security decisions clear of influence from firms with Trump family business connections.

29 Mar 2026, 07:14

US Eyes a Ground Invasion in Iran Lasting Months: When Will BTC React? (Report)

Although both parties are reportedly in talks about a potential deal, a recent report from the Washington Post claimed that the US has begun preparing for a potential ground invasion into Iran that could last up to two months. This one follows previous reports that the Pentagon was mulling sending up to 10,000 troops in the region for what could be a part of a massive ‘final blow.’ Citing the information from the Washington Post, the analysts from The Kobeissi Letter noted that any such invasion would “involve raids by a mixture of Special Operations forces and conventional infantry troops.” Internal discussions have reportedly focused on whether the US could seize Kharg Island, a cornerstone of Iran’s oil infrastructure, and raid into other coastal areas near the Strait of Hormuz. The report also noted that US President Donald Trump has “wavered” between stating that the war is “winding down” and threatening to amplify it. BREAKING: The US is preparing for a potential ground invasion into Iran that would last for up to 2 months, per the Washington Post. Details include: 1. Thousands of American soldiers are arriving in the Middle East for what could become a “dangerous new phase” of the war 2.… — The Kobeissi Letter (@KobeissiLetter) March 29, 2026 Today’s development comes after yesterday’s warning from the same analysts that the weekend could be highly eventful due to the changes in the US financial markets. This prediction is yet to come to fruition as of now, especially for BTC, which has remained flatlined around $66,000. However, the previous month of military conflict between the US/Israel and Iran has shown that the cryptocurrency tends to react more severely once the legacy financial markets open for trading, which begins later tonight. The post US Eyes a Ground Invasion in Iran Lasting Months: When Will BTC React? (Report) appeared first on CryptoPotato .

29 Mar 2026, 06:02

Ripple CEO Drops Bombshell Prediction for Clarity Act, XRP Army Reacts

Ripple CEO Brad Garlinghouse delivered a major update on the CLARITY Act, hinting at progress in U.S. crypto legislation. The CEO’s comments were highlighted in a video shared by crypto commentator BankXRP (@BankXRP). The post quickly gained attention within the XRP community. Speaking on when the Act would pass, Garlinghouse said, “I predict by the end of May, we’ll get something across.” He added that negotiations often move when stakeholders are exhausted, signaling that lawmakers may finally be ready to act. "I'll predict by the end of May…" Clarity Act Brad Garlinghouse With the industry at peak exhaustion, is a breakthrough finally on the horizon? pic.twitter.com/oFPHXwE5hS — 𝗕𝗮𝗻𝗸XRP (@BankXRP) March 26, 2026 Understanding the CLARITY Act The CLARITY Act aims to define rules for digital assets. It separates tokens into categories, distinguishing securities from payment-focused assets. The law is designed to give companies and financial institutions legal certainty. For XRP, this distinction is critical. Ripple has consistently argued that XRP is a digital asset for payments, not an investment security, and the court has supported this stance, ruling that XRP is not a security . Recognition as a commodity under the CLARITY Act would further reinforce XRP’s regulatory clarity and allow Ripple to operate with reduced legal risk. Benefits for Ripple and XRP Clear regulations would make XRP more accessible to banks and institutions. They could integrate XRP into cross-border transactions and liquidity management without fear of enforcement. The law would also support settlement systems, including pre-funded ACH and RLUSD, by providing a legal framework for digital asset use in regulated finance. Garlinghouse previously suggested the CLARITY Act could pass in April , referencing prediction markets. However, this interview provides a more concrete timeline. If it passes, institutional adoption could accelerate. Legal certainty reduces friction for financial operations, making XRP a more practical tool for payments and settlements. We are on X, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) June 15, 2025 Timing and Industry Momentum Garlinghouse highlighted that stakeholders’ exhaustion could drive compromise. Lawmakers, regulators, and industry participants have faced intense pressure. While the Act initially faced some backlash, with Coinbase even pulling its support , the crypto industry now seems closer to a compromise. According to Garlinghouse, reaching a point of shared fatigue may create the conditions necessary to finalize the law. The predicted end-of-May timeframe offers a clear milestone for the industry. Legal clarity benefits more than just Ripple. It provides certainty for market participants and reduces ambiguity around taxation and compliance. XRP holders and investors are watching closely. Passage of the CLARITY Act could create a favorable environment for XRP’s growth and institutional integration. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on X , Facebook , Telegram , and Google News The post Ripple CEO Drops Bombshell Prediction for Clarity Act, XRP Army Reacts appeared first on Times Tabloid .

29 Mar 2026, 05:30

This Week in Crypto Law (Mar. 22, 2026)

Law and Ledger is a news segment focusing on crypto legal news, brought to you by Kelman Law – A law firm focused on digital asset commerce. This Week in Crypto Law The opinion editorial below was written by Alex Forehand and Michael Handelsman for Kelman.Law. This week in crypto law highlighted a growing reality:

29 Mar 2026, 05:00

Senator Defends CLARITY Act As Developer Protection Debate Heats Up

A crypto developer was convicted last year for running an unlicensed money-transmitting business. That case — and others like it — is now driving one of the sharpest disagreements in Washington over how the US plans to regulate decentralized finance. The Conviction That Changed The Conversation Roman Storm , co-founder of the cryptocurrency mixing platform Tornado Cash, was found guilty in August 2025 of conspiracy charges tied to the operation of an unlicensed money-transmitting service. His conviction sent a chill through the developer community. It also made the legal definitions buried inside pending crypto legislation feel a lot more urgent. That backdrop is now shaping a public dispute between Senator Cynthia Lummis and prominent crypto attorney Jake Chervinsky over whether the Digital Asset Market Clarity Act — widely known as the CLARITY Act — actually protects the developers it claims to defend. Don’t believe the FUD– we have worked on a bipartisan basis for the last few weeks to make changes to Title 3 that make this bill the strongest protection for DeFi and developers ever enacted. We have to pass the Clarity Act to get these protections. https://t.co/CMQNHuvvFv — Senator Cynthia Lummis (@SenLummis) March 27, 2026 CLARITY Act: What Chervinsky Gets At Chervinsky’s concern is specific. Title 3 of the current Senate Banking Committee draft, he argues, contains money transmitter language broad enough to pull non-custodial software developers into Bank Secrecy Act territory — meaning KYC obligations and the regulatory exposure that comes with them. His position: that result would effectively hollow out the Blockchain Regulatory Certainty Act, which was written precisely to keep non-custodial builders out of that category. But the draft also has provisions in Title 3 that undermine the BRCA and subject all sorts of non-custodial software developers to KYC obligations anyway. Those sections must be fixed or the bill doesn’t work for DeFi. If the bill doesn’t work for DeFi, it doesn’t work at all. — Jake Chervinsky (@jchervinsky) March 26, 2026 “The biggest challenge is ensuring non-custodial software developers aren’t misclassified as money transmitters,” Chervinsky said. He called the issue non-negotiable for DeFi, and said it remains unsettled. The tension he’s flagging isn’t small. Section 604 of the CLARITY Act does incorporate the BRCA, which states that developers who don’t hold or control user funds should not be treated as financial institutions. But Chervinsky’s read is that other language in Title 3 creates enough ambiguity to undo that protection in practice. On Friday, Lummis fired back directly. She said recent bipartisan revisions to Title 3 make the bill the strongest protection for DeFi developers ever put into law. “Don’t believe the FUD,” she posted on X, urging supporters to back the legislation’s passage. Text Still Not Public While earlier drafts of the CLARITY Act have been made public, the latest negotiated revisions referenced by Cynthia Lummis have not yet been fully released. That means the specific changes she is describing cannot be independently verified — at least for now. What is known: the bill is gaining momentum. Bipartisan progress on stablecoin rewards provisions has pushed it closer to a Senate Banking Committee markup, expected sometime in April. Chervinsky has noted that those stablecoin provisions have consumed most of the public attention, leaving the developer protection debate in the background despite its significance. For developers watching closely, the stakes could not be more concrete. The question of whether writing non-custodial software qualifies someone as a money transmitter is not theoretical. Roman Storm found that out in court. Until the revised CLARITY Act text is available for review, the industry’s only assurance is a senator’s word on social media. Featured image from Pexels, chart from TradingView

28 Mar 2026, 20:10

Turkish lawmakers withdraw crypto tax provisions from omnibus bill

The parliament in Turkey has removed provisions introducing cryptocurrency taxation from a massive bill designed to regulate a range of matters related to tax collection and government spending. The texts, which proved contentious as they envisaged imposing a levy on all transactions through crypto platforms, were withdrawn after a strong pushback from opposition lawmakers and stakeholders. Crypto tax provisions dropped from Turkish law Members of Turkey’s legislature have withdrawn provisions aimed at taxing cryptocurrency transactions following talks between the parliamentary majority and other factions. The articles were part of a sweeping bill covering not just tax policy, but other economic regulations as well and defense spending, the English-language edition Hürriyet Daily News unveiled on Saturday. The last-minute agreement for their deletion was reached ahead of a formal meeting presided over by the Deputy Speaker of the Grand National Assembly, Celal Adan, the report detailed. The provisions would have slapped a 0.3% transaction tax on sales and transfers of digital assets processed by crypto service providers in Turkey, collected and paid to the state each month. They were also introducing taxation for crypto-related earnings, obliging intermediaries to withhold 10% on the capital gains of their clients on a quarterly basis, as reported by Cryptopolitan earlier in March. The texts, strongly criticized by the opposition, had been added to the omnibus bill by the ruling Justice and Development (AK) Party. While the proposals have been removed now, their representatives indicated they may file a revised draft as part of a separate legislative initiative. The government in Ankara is still hoping to tap into the massive financial flows generated by the country’s growing cryptocurrency sector. The Turkish crypto market expanded significantly over the past few years, marked by high inflation of the national fiat currency, the lira. Turkey wanted to tax even crypto withdrawals By all indications, Turkey’s tax authority has played a leading role in drafting the controversial legislation as crypto assets are treated mainly from its own perspective. That resulted in two main issues, according to Ussal Sahbaz, managing partner at Ussal Consultancy & MnP Istanbul Hub, who took to X to explain thoroughly. The first stems from the intention to apply the suggested transaction tax to all transfers via service providers, including those to self-custody wallets, he pointed out and elaborated: “In practice, this is equivalent to taxing cash withdrawals from a bank. Globally, this type of approach is extremely rare—reportedly seen only in Kenya.” Introducing withholding tax on crypto income creates the other problem, noted Sahbaz, whose efforts are focused on bridging the gap between business and policy in Turkey. “For an asset class with near-zero mobility costs, this would likely push users toward offshore platforms where taxation is declaration-based,” the expert warned. He reminded that similar developments have already been observed in India and South Korea, “both of which are now trying to correct for unintended capital outflows.” I the case of cryptocurrencies, “poorly designed taxation does not increase revenues—it shifts the tax base elsewhere,” added the Turkish analyst who specializes in emerging markets. Ussal Sahbaz recalled that the government-proposed bill quickly passed through parliamentary committees, which approved it without much consultation with interested parties. Its crypto provisions were only withdrawn at the last moment, thanks to the active efforts of a small group of lawmakers and under pressure from stakeholders. The remaining part of the broad bill still contains other significant fiscal measures, the Hürriyet news outlet highlighted in its report. For example, it introduces a 20% “special consumption tax” on diamonds, pearls, and other precious stones, including products made from them. It also bans companies in Turkey’s gambling and betting industry from deducting advertising expenses from their taxable income. If you're reading this, you’re already ahead. Stay there with our newsletter .