Mars Morning News | The U.S. Senate will hold a cryptocurrency taxation hearing on October 1

US Senate to Hold Cryptocurrency Taxation Hearing on October 1

On September 25, according to Bloomberg, US Senate Finance Committee Chairman Mike Crapo announced that a hearing titled "Reviewing Digital Asset Tax Policy" will be held in Washington on October 1, 2025, at 10:00 AM Eastern Time (UTC+8). Representatives from Coin Center, ASKramer Law, Coinbase, and the American Institute of Certified Public Accountants will testify on the inclusion of cryptocurrencies and blockchain assets in the federal tax code. The discussion aims to promote policy modernization for the $2.5 trillion global crypto market in compliance matters, based on previous House hearings and recommendations from the American Institute of Certified Public Accountants.

Trump Aide's Involvement in Massive Cryptocurrency and Chip Deals Sparks Ethics Review

On September 24, according to The New York Times, two US Democratic senators have requested the Inspectors General of the Department of Commerce and the State Department to investigate whether Trump administration officials violated ethics rules in two multi-billion-dollar deals involving the United Arab Emirates. One deal involves the US planning to allow the UAE to import US-made AI-designed chips. The other involves a UAE government-backed company transferring $2 billion to a cryptocurrency company founded by the Trump family and one of its advisers, Steve Witkoff. In the first half of this year, Witkoff officially served as a State Department employee before transferring to work at the White House. Massachusetts Democratic Senator Elizabeth Warren and Michigan Democratic Senator Elissa Slotkin wrote in a letter to the acting Inspectors General of the State Department and Commerce Department and the Office of Government Ethics: "The pattern of these transactions is extremely concerning."

Meteora Proposal to Allocate 3% of TGE Reserve as Liquidity Position NFTs to Jupiter Stakers

SolanaFloor posted on X that Solana ecosystem liquidity protocol Meteora has released a new proposal following strong opposition to the JUP staker allocation plan. 3% of the MET TGE reserve will be distributed to Jupiter stakers in the form of liquidity position NFTs based on a time-weighted model, providing MET/USDC liquidity exposure to stakers at the time of token launch.

Aave v3 to Launch on OKX-Incubated Ethereum Layer2 Network X Layer

According to The Block, Aave v3 will launch "in the coming weeks" on X Layer, an Ethereum Layer2 network developed by crypto exchange OKX.

Data: $259 Million Liquidated Across the Network in the Past 24 Hours; $171 Million Longs, $88.51 Million Shorts

According to Coinglass data, $259 million was liquidated across the network in the past 24 hours, with $171 million in long positions and $88.51 million in short positions. Among them, $28.79 million in bitcoin long positions and $19.23 million in bitcoin short positions were liquidated; $38.62 million in ethereum long positions and $22.89 million in ethereum short positions were liquidated. In addition, in the past 24 hours, a total of 108,987 people were liquidated globally, with the largest single liquidation occurring on Hyperliquid - ETH-USD, valued at $4.035 million.

US SEC Chairman Emphasizes Strengthening Collaboration with CFTC to Advance Crypto Market Legislation

US SEC Chairman Paul S. Atkins stated on the "Mornings with Maria" program that the SEC is working closely with the CFTC to advance market structure legislation, including joint roundtables and future joint rulemaking. He pointed out the need to provide a clear regulatory framework for the crypto asset market and proposed innovative exemptions to support the development of on-chain capital markets. In addition, the SEC will review IPO reporting requirements and the diversification of retail investor opportunities in the private placement market.

US Senate Finance Committee Announces Witness List for Crypto Tax Hearing

The US Senate Finance Committee announced that a hearing on crypto taxation will be held on October 1 (UTC+8). Witnesses include Coin Center Policy Director Jason Somensatto, ASKramer Law founding member Andrea S. Kramer, Coinbase Vice President of Tax Lawrence Zlatkin, and American Institute of Certified Public Accountants Digital Asset Tax Working Group Chair Annette Nellen.

Arthur Hayes Family Office Maelstrom Grants One-Year Bitcoin Development Funding to Spherostrat

Arthur Hayes' family office Maelstrom announced a one-year bitcoin development grant to Spherostrat, which will focus on P2P network privacy, block validation optimization, and DLEQ proof development for Silent Payment addresses.

A Whale Address Withdraws 26 Million ASTER from Gate Again, Total Holdings Reach 50 Million

On September 25, according to Onchain Lens monitoring, a whale address withdrew another 26 million ASTER from Gate, worth $59 million. The address now holds 50 million ASTER, worth $115 million, with a profit of $9.92 million.

Toyota, BYD, Yamaha Integrate USDT Payments: Bolivian Auto Market Enters "Digital Dollar" Era

Toyota, BYD, and Yamaha now support USDT payments for car purchases in Bolivia, reflecting the accelerated adoption of stablecoins in the real economy to address local economic crises and payment needs.

Major Pullback After Rate Cut: Is the Crypto Bull Market Over?

Federal Reserve Chairman Powell sent dovish signals, with market expectations for an October rate cut rising to 91.9%, yet the crypto market saw significant liquidations, and traders expressed concerns about market weakness.

MetaMask Token Preview: Massive Airdrop, $12 Billion Valuation, and Potential Risks

MetaMask is about to launch the MASK token, which could become one of the largest airdrops in history. MetaMask has 143 million users and annual revenue of about $120 million, with a conservative valuation possibly reaching $12 billion.