Headline
▌US Treasury to Propose Rules Requiring Stablecoin Issuers to Undertake Anti-Money Laundering and Sanctions Compliance Obligations
On April 8, the US Treasury Department is about to release proposed rules requiring stablecoin issuers to establish standards for combating money laundering and sanctioning violations. According to a summary of the proposal obtained by CoinDesk, the Financial Crimes Enforcement Network (FinCEN) and the Office of Foreign Assets Control (OFAC) under the Treasury Department will jointly develop rules clarifying how issuers should comply with the GENIUS Act passed last year, including establishing controls to block, freeze, and reject suspicious transactions. FinCEN will require issuers' anti-money laundering programs to be able to suspend flagged transactions and focus more resources on high-risk customers and activities. When US authorities investigate specific targets, regulated issuers must review their own records for activities related to flagged individuals or entities.
OFAC requires issuers to implement risk-based sanctions compliance safeguards in both primary and secondary markets, identifying and rejecting transactions that may violate U.S. sanctions. The proposal emphasizes respect for the industry, arguing that financial institutions are best positioned to understand their own money laundering and terrorist financing risks, and that companies maintaining appropriate anti-money laundering measures generally do not face enforcement action. U.S. Treasury Secretary Scott Bessent stated that these measures will protect the U.S. financial system from national security threats without hindering the development of U.S. companies within the stablecoin ecosystem. The proposal will enter a public comment period and may be revised before finalization.
▌Iran claims three of the "ten-point plan" have been violated, "basis for negotiations" has been undermined
On April 9, Iranian Parliament Speaker Qassem Ghalibaf issued a statement on his personal social media, pointing out that three key clauses of Iran's ten ceasefire terms had been violated before negotiations began between Iran and the United States. Ghalibaf stated, "We have always harbored a deep distrust of the United States, stemming from its repeated violations of various forms of commitment."
▌White House: First Round of US-Iran Talks to be Held in Islamabad on the Morning of April 11
On April 9, White House Press Secretary Levitt said at a press conference on April 8 that the United States and Iran will hold their first round of talks in Islamabad, the capital of Pakistan, on the morning of April 11 local time. The US team will be led by Vice President Vance, President Trump's special envoy Witkov, and son-in-law Kushner. (Xinhua News Agency)
▌White House: Iran Proposes a "More Reasonable and Simpler" New Plan, Can Serve as Basis for Negotiations
On April 9, White House Press Secretary Levitt said at a press conference on April 8 that Iran's initial 10-point proposal was unacceptable and had been abandoned. A "more reasonable and simpler" plan subsequently proposed by Iran can serve as a basis for US-Iran negotiations.
Levitt said that US President Trump and his team believe that Iran's new proposal can serve as a viable basis for negotiations and is "consistent" with the US's 15-point proposal. She said that Trump's "red line" demanding Iran cease its uranium enrichment activities remains unchanged, and the claim that Trump would accept a "wish list" agreement from Iran is "completely absurd." (Xinhua)
▌Iranian Armed Forces Announce Victory in War Against US and Israel
On April 8, the Hatam Anbia Central Headquarters of the Iranian Armed Forces issued a statement announcing victory in a 40-day war of resistance against the US and Israel, and stating that it is prepared for a "more intense, longer, and more extensive war." The statement said that over the past 40 days, the Iranian Armed Forces struck US bases in the Middle East and key military, security, and economic targets of the Israeli army, causing extremely heavy casualties and economic losses to the US and Israel, and completely seizing the initiative in the war. Ultimately, the US and Israel "yielded" and accepted the ceasefire conditions proposed by Iran.
Blockchain Applications
▌Polygon Labs in Talks to Raise $100 Million to Support Its Payments Business
According to sources familiar with the matter, blockchain developer Polygon Labs is in early talks with investors, planning to raise up to $100 million to build a new stablecoin payments business. Polygon is the foundational blockchain for the prediction market Polymarket and other crypto platforms. These funding talks come at a time of cryptocurrency market downturn. For Polygon, expanding into new businesses will help it escape the stagnant cryptocurrency market and diversify its operations.
Blockchain Applications
▌Polygon Labs in Talks to Raise $100 Million to Support Its Payments Business
Pharos Network Raises $44 Million in Series A Funding (Jinse Finance reports) On April 8th, Pharos Network, a Layer 1 blockchain network targeting institutional financial applications, announced the completion of a $44 million Series A funding round. The round was co-led by several undisclosed leading institutions, including Asian private equity funds, a listed new energy company, and a compliant financial institution in Hong Kong. Sumitomo Corporation subsidiary, crypto-native firm SNZ, Chainlink, and Flow Traders also participated. The funds will be used to accelerate the construction of on-chain real-world asset (RWA) infrastructure in Asia and globally. Prior to this round, Pharos completed an $8 million seed round in November 2024, led by Lightspeed Faction and Hack VC, with other investors participating, bringing its total funding to $52 million. The Pharos testnet launched in May 2025, allowing developers to develop and test applications on the platform. On April 8th, Yi Lihua, founder of Liquid Capital (formerly LD Capital), announced the establishment of the AI fund OpenX Labs, focusing on investing in and collaborating with AI projects. Yi Lihua stated, "I used to think that primary investment opportunities were gone, but now I'm correcting that idea. The golden age of primary investment has arrived. The AI era has given top founders a huge opportunity; a few people can be as effective as a thousand. There's no need for management, recruitment, salaries, or finding clients—the tedious things. As long as you have an idea and a strategy, startups in the AI era are on the same starting line as all medium-sized enterprises. I hope to use the time allocated for primary investment to learn from outstanding AI founders, and I'm willing to provide unconditional assistance to excellent AI projects."
Cryptocurrency
▌Iran will charge ships transiting the Strait of Hormuz, with payments accepted in cryptocurrencies such as Bitcoin.
According to market sources, Hamid Hosseini, spokesman for the Iranian Oil, Gas and Petrochemical Exporters Union, said on Wednesday that during the two-week ceasefire, Iran will require ships to pay transit fees to pass through the Strait of Hormuz. All cargo will be allowed to pass, but customs procedures for each ship will take time. Each tanker must first send cargo details via email to be informed of the fees, which can be paid in digital currencies, including Bitcoin, to ensure that funds are not confiscated due to sanctions.
▌Ethereum Foundation: Plans to Sell 5,000 ETH for R&D, Grants, and Donations
On April 8th, the Ethereum Foundation announced on the X platform that it will exchange 5,000 ETH for stablecoins today through CoWSwap's TWAP function as part of its ongoing efforts to fund R&D, grants, and donations.
▌Ethereum Foundation Sells 416.67 ETH
On April 8th, according to Onchain Lens monitoring, the Ethereum Foundation has sold 416.67 ETH, obtaining 933,340 DAI, and may sell more.
Cango Discloses March Sale of 2,000 Bitcoins, Bitcoin Reserves Drop to 1,025.69 Bitcoins US-listed Bitcoin mining company Cango released its March operations update, disclosing that it mined 27.98 BTC in March and completed a strategic sale of 2,000 Bitcoins. The proceeds were used to repay BTC mortgage loans. As of the end of March, the company's outstanding Bitcoin mortgage loans totaled $30.6 million, and its Bitcoin reserves dropped to 1,025.69 Bitcoins. Important Economic Developments Trump: Will Discuss Tariffs and Sanctions with Iran; Uranium Enrichment to be Banned April 8th - Trump posted that the United States will work closely with Iran, stating that they have determined Iran has undergone a highly effective regime change! Uranium enrichment activities will be prohibited, and the United States will cooperate with Iran to excavate and remove all nuclear "dust" buried deep underground (dropped by B-2 bombers). These areas are currently, and have always been, under extremely tight satellite surveillance (monitored by the Space Force). Nothing has been touched since the attack. We are and will continue to discuss tariffs and sanctions relief with Iran. Many of the 15 points have been agreed upon.
▌US Defense Secretary: US Military Ready to Resume Military Operations at Any Time
April 8th, in response to a reporter's question, US Defense Secretary Hergsays stated that the US military will "continue to remain in (the Middle East) and remain vigilant" during the ceasefire to ensure Iran adheres to the ceasefire agreement and advances subsequent negotiations. He emphasized that the US military is prepared for both defense and offense and can resume military operations in a short time if necessary. Chairman of the Joint Chiefs of Staff Kane also said at a press conference that day that the US military objectives against Iran have been achieved, and the ceasefire is only a temporary "suspension," with the US military remaining ready to resume combat at any time.
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