Major News Headlines for Today

1. Cynthia Lummis Proposes Partial Exemption Of Crypto Taxes
U.S. Senator Cynthia Lummis submitted a bill in the U.S. Senate on Jul. 3 that includes a small cryptocurrency transaction worth less than $300 and a tax reduction clause for cryptocurrency miners and staking investors. Senator Lummis said she proposed a cryptocurrency tax mask clause to develop the cryptocurrency industry and plans to submit the bill to the president before September.

2. JP Morgan "Stablecoin Short-Term Growth Won't Meet Expectations"
In a report published by JP Morgan on Jul. 3, it predicted that the growth of the stablecoin market will be slower than expected due to the very limited availability of stablecoins. He pointed out that about 88% of stablecoins activity is currently taking place in intra-exchange transactions and DeFi, and that stablecoins are not actually penetrating the traditional financial system. While other banks predicted that stablecoins will grow from $1 trillion to $2 trillion in the short term, JP Morgan explained that the stablecoins will reach about $500 billion by 2028.

3. Bloomberg "Trump Family Revenues $620 Million In Crypto Months"
Bloomberg reported on Jul. 3 that U.S. President Donald Trump's family has earned about $620 million in just a few months from its cryptocurrency business. Bloomberg said the Trump family earned about 9% of President Trump's net worth this year through cryptocurrency, including income from the U.S. president's DeFi project "World Liberty Financial" and Trump MemeCoin earlier this year.

4. Ripple RLUSD, Swiss Bank Consolidated
Ripple announced on Jul. 3 that it will include Ripple's stablecoin RLUSD in the Amina banking system through cooperation with Swiss bank Amina Bank.

권승원 기자 ksw@blockstreet.co.kr