The U.S. Senate Agriculture Committee formally advanced the legislative process of the Cryptocurrency Market Structure Act by a 12-11 partisan vote. This marks the first time the bill has made progress at the Senate committee level, signifying a new stage in its development. However, due to the entirely partisan voting process and the lack of Democratic support, the bill still faces significant obstacles to unanimous Senate passage. Committee Chairman John Boozman, a Republican, stated that significant progress has been made after months of negotiations, and it is time to move forward. However, Democratic chief negotiator Corey Booker criticized the Republicans for withdrawing from negotiations and accused President Trump and his family of profiting from the crypto industry while attempting to push for a regulatory framework lacking ethical constraints. Democrats on the committee unanimously opposed the current version but expressed their willingness to continue negotiations to reach a bipartisan consensus. The bill still needs to pass the Senate Banking Committee, whose version has been slow to progress due to more controversial provisions involving stablecoin yields. The White House plans to convene again next week to coordinate the positions of the crypto industry, the banking sector, both parties, and the government. If the bill ultimately passes the Senate, it will be integrated with the version that has already passed the House by a large margin before being submitted to the president for signature into law. Analysis indicates that the legislative window is narrowing as the midterm elections approach. (Coindesk)

U.S. President Donald Trump has filed a lawsuit against the Internal Revenue Service (IRS) and the Department of the Treasury, seeking $10 billion in damages. According to BlockBeats, the lawsuit alleges that the agencies were responsible for the unauthorized disclosure of his tax returns. The legal action was initiated on January 30, with Trump claiming that the leak of his tax information has caused significant harm.

Konnex, a Web3 robot project, recently completed a $15 million funding round in January. According to PANews, the project is in its early stages and allows users to earn platform points by completing tasks, which may be linked to future airdrops. The tasks are primarily social and can be completed in about five minutes. Konnex aims to establish a technical platform for a self-sustaining system where robots can sign digital contracts, access AI strategies as needed, and settle physical work results using stablecoins. This concept resembles a crowdsourcing platform for robots, with potential applications if robots become widely used. The funding round on January 15 included investments from Cogitent Ventures, Liquid Capital, Leland Ventures, Covey, M77 Ventures, and Block Maven LLC. Liquid Capital is known for investing in prominent Web3 projects like Solana, Filecoin, and Arweave. To participate, users must visit the task page, link their wallet to register an account, and connect an X account to unlock community and daily tasks. Tasks include following the official Twitter account, joining Discord and Telegram communities, and completing daily check-ins and project-related tweets. Users can also create an invitation link to invite friends and earn 10% of their points. The project remains in its early stages, with simple tasks available. Those interested in the robot sector may find it worthwhile to engage with the platform, as more tasks are expected to be added as the product develops.

The Central Bank of El Salvador purchased $50 million worth of gold, while the government continued to increase its Bitcoin holdings. The government's total gold holdings now stand at 67,403 ounces, worth approximately $360 million at current prices; its Bitcoin holdings have reached 7,547, worth $635 million. (Coindesk)

Spot gold and silver prices opened higher on Friday, with gold priced at $5,400 per ounce and silver at $116.3 per ounce. According to Odaily, these increases reflect market trends observed at the end of the week.

The Central Reserve Bank of El Salvador has added $50 million worth of gold to the country’s international reserves, reinforcing a dual-asset strategy that combines traditional bullion with significant Bitcoin exposure. source: https://www.ethnews.com/el-salvador-adds-50-million-in-gold-as-bitcoin-backed-reserve-strategy-expands/

null source: https://x.com/WatcherGuru/status/2017030877503537330

US President Trump is suing the IRS and Treasury Department, seeking $10 billion in damages, alleging tax form leaks. (Jinshi)

Spot gold and silver rose after a sharp overnight decline. Spot gold climbed to $5,450 per ounce, a gain of approximately 1.5%, while spot silver rose above $118 per ounce, an increase of over 2%. (Jinshi)

Indonesia's Financial Services Authority has revealed that 72% of licensed cryptocurrency exchanges in the country are currently unprofitable, despite having over 20 million users. According to NS3.AI, domestic exchanges are struggling to compete with international platforms due to higher tax and compliance costs, security concerns, and operational inefficiencies. The presence of well-funded global competitors and regulatory hurdles exacerbates the difficulties faced by local exchanges. Additionally, issues related to trust and lost tax revenue contribute to the structural pressures on the industry.

Jinse Finance launches its daily cryptocurrency and blockchain news bulletin, "Jinse at 8 AM," issue 2952, providing you with the latest and fastest news on the digital currency and blockchain industry.

Money has a compelling narrative. Through its flow in global markets, it reveals its perspective on the world.

Jinse Finance launches the "Jinse Web3.0 Daily," providing you with the latest and fastest news on MEME, DeFi, DAO, NFT, and the metaverse industry.

When the transition period officially ended in many countries in the fourth quarter of last year, the European market was undergoing a profound transformation and restructuring – 68 new licensed institutions entered the market, traditional VASPs successfully transformed into CASPs, and new forces made a strong debut.

A seemingly technical regulatory guideline is actually a wake-up call for the rampant growth of "synthetic equity," and the rules of the game are now clear!

Meme, DOGE, you can turn everything into a meme, but cherish this cathedral. Golden Finance, when this frenzy recedes, what will remain is a vast ruin of trust.

While U.S. regulators continue to debate how — or whether — to formally approve dollar-backed stablecoins, the United Arab Emirates has quietly moved first.

Bybit will launch retail banking services in February, offering users personal IBAN accounts to send, receive, and hold multiple currencies. The service will let customers deposit fiat, pay bills, receive salaries, and trade crypto, in partnership with banks including QNB and Pave Bank.

Web 3.0, NFT, what are some good paths for Web3 startups in China? Golden Finance: Digital collectibles are not a quick money track.

Cere Network is facing renewed legal trouble after its co-founder and board were named in a $100 million lawsuit alleging fraud and insider misconduct tied to the project’s 2021 public token launch.