Trump Targets July 4 for Crypto Clarity Bill Passage

The Trump administration is pushing for a sweeping crypto regulation bill to pass by July 4, a timeline that would mark the most significant federal attempt at coherent digital-asset rules in years. A White House official told reporters the administration is making “major progress every day” and remains “still optimistic” about meeting the target, according to journalist Pete Rizzo’s reporting.

The official did not specify which bill or legislative vehicle would carry the deadline. Lawmakers, regulators, and industry participants continue debating how to define the legal treatment of cryptocurrencies, trading venues, and token issuers. A July 4 passage would give exchanges and issuers a clearer framework for custody rules and trading disclosures. Missing the target would extend the current patchwork of SEC and CFTC enforcement actions that has weighed on institutional participation, several traders said.

Separately, the U.S. Department of Commerce signed letters of intent with nine quantum computing companies, committing over $2 billion to infrastructure that could eventually break current cryptographic standards, according to CoinDesk. IBM is set to receive $1 billion for a wafer production facility. GlobalFoundries is slated for $375 million, with the remainder allocated across seven quantum hardware firms. IBM carries an AlphaScala Score of 52/100 (Mixed), reflecting its exposure to both legacy tech and emerging quantum bets. Large-scale quantum attacks on Bitcoin and Ethereum remain a longer-term threat rather than an imminent market risk. The investment signals that governments are treating quantum capability as strategic infrastructure. For crypto networks, the development reinforces ongoing work on post-quantum cryptography and migration paths that could harden wallet signatures and core security assumptions over time. The longer the runway before quantum systems become broadly capable, the more time large networks have to upgrade. Investors and operators are increasingly tracking the issue as more than theoretical, several analysts said.

On the security front, auditing firm Quantstamp said its investigation into the June 8 exploit involving Humanity Protocol’s H token found tactics and certificate-signing patterns resembling those associated with North Korea-linked hacking groups. Attackers gained remote access to an executive’s device through phishing, copied wallet data and private keys, then upgraded the Ethereum-based H token contract to move roughly 141.18 million H tokens. The attacker also seized proxy admin privileges on BNB Smart Chain and minted additional H tokens. Quantstamp said Humanity Protocol commissioned the investigation and released the findings publicly.

In Africa, Zimbabwe introduced a registration regime for crypto service providers, requiring annual registration with a $500 fee, Finance Minister Mthuli Ncube said, as reported by Reuters. All entities involved in buying, selling, transferring, or custodying crypto assets must register each year with the Financial Intelligence Unit, an anti-money laundering body under the central bank. Operating without registration is illegal. The move follows years of legal ambiguity and persistent currency instability. Zimbabwe previously barred financial institutions from crypto transactions in 2018, yet demand for digital assets and cross-border value transfer has continued to rise as citizens seek alternatives for savings and remittances.

Standard Chartered offered a bullish medium-term view on Bitcoin, arguing the market’s bear-cycle low formed near $59,000. The bank said “winter is over” and described a return of “crypto spring,” according to Bitcoin Magazine. The language reflects a more constructive institutional stance after a period of macro-driven volatility and risk-off positioning across global markets.

In tokenized equities, Binance Wallet canceled the SPCXx IPO due to factors outside its control, according to PANews. Binance will fully refund participants’ deposited USDC via the original payment method and plans an airdrop worth around $1 million in bStocks SpaceX tokens (SPCXB) based on participation. Binance described SPCXB as a tokenized security pegged 1:1 to SpaceX shares, with underlying shares held by a regulated custodian and proof-of-reserves provided. The exchange intends to list the token later on its spot market. Binance also announced it will list the SPCXB/USDT spot trading pair on June 12 at 17:00 UTC, with spot algorithmic trading bot support. Deposits and withdrawals for SPCXB are expected to open on June 13 at 13:30 UTC.

Ondo Finance said SpaceX tokenized asset SPCXon would be listed on its Ondo Global Markets on its first day of trading, supporting Solana, Ethereum, and BNB Chain. Gate also completed the allocation for its SpaceX (SPCX) share offering and opened stock trading, describing the launch as the first project under its IPO Access program. The exchange said it will run user incentives including yield benefits on designated USDT products, holding rewards, and trading rewards.

Crypto data provider Blockworks acquired rival Messari, according to PANews, though financial terms were not disclosed. The deal could reshape competition in the crypto research and data segment as platforms race to consolidate proprietary datasets, institutional subscription revenue, and brand authority.

Binance plans to list SPCXB/USDT on June 12 at 17:00 UTC.