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India expands tax reporting rules to include crypto holdings India’s tax authorities have revised reporting standards to include cryptocurrencies and tighten customer verification requirements for financial institutions, according to The Economic Times. The updated compliance framework applies to investment institutions including banks, mutual funds, insurers and custodians, while accounts with balances over $1 million will face enhanced customer verification and due diligence procedures.

If BTC falls below $63,106, about $479.2 million in long positions on major centralized exchanges would be liquidated. If BTC rises above $64,426, about $305.32 million in short positions would be liquidated, according to CoinGlass data.

Bithumb, KB Kookmin Bank seek 1-year renewal after 6-month conditional extension

Bitcoin has re-entered a high-stress zone as its BTC UTXO stress indicator rose back above 70 to 71.58, on-chain analyst Axel Adler Jr. said on his blog. Adler said the indicator was around 41 a year earlier, a neutral range, while a significant share of supply is now sitting at a loss. Stress had gradually eased over the past month, Adler said, but weekly momentum has turned positive at +3, signaling stress is starting to build again. Adler added that stress would ease if the indicator falls back below 70 and momentum stays negative. If BTC drops below its monthly low of around $61,500 and the indicator climbs above 90, deterioration in market stress could accelerate.

Cardano’s ADA has surged about 24% over the past week amid approval of a roadmap aimed at strengthening its financial structure and accumulation by whales, Watcher.Guru said. The outlet said Cardano has now entered the "Dijkstra" era of its development roadmap. It added that a recently approved community roadmap includes a treasury support protocol that formally allows funds accumulated through network fees and similar sources to be used for protocol development. Watcher.Guru also said ADA whales added 240 million ADA over the past five days, adding that large-scale whale accumulation is typically seen as a bullish signal reflecting expectations for further price gains.

South Korea’s launch team for the Major Crimes Investigation Office said its organizational plan announced today includes a joint virtual asset investigation division dedicated to cryptocurrency, or digital asset, probes in Seoul, Digital Asset reported. According to the report, the new unit will be established under the Seoul office and the staffing plan also reflects personnel seconded from other agencies, including South Korea’s Financial Services Commission and National Tax Service. The structure places a financial crimes investigation bureau under the first deputy chief of the Seoul office, with the joint virtual asset investigation division under that bureau. The Major Crimes Investigation Office is set to launch on Oct. 2.

Coinbase plans to transfer institutional clients’ accounts, balances and positions to Deribit on Sept. 9, CryptoSlate reported. Clients who decline the transfer must close their positions and accounts by Aug. 28.

BlackRock has launched a tokenized share class for a European money market fund, The Block reported. The share token is based on Ethereum and uses technology from Kinexys, JPMorgan’s blockchain payments platform. The tokenized assets are selected from Institutional Cash Series, an institutional platform with $311 billion in assets under management. BlackRock has recently been rolling out tokenized money market products as it expands its cash management business.

Crypto venture capital firm Spartan Group sold all cryptocurrencies worth $3.92 million held in one of its addresses, EmberCN reported. The address transferred 2.045 million PENDLE worth $2.74 million, 5.377 million SYRUP worth $860,000, and 813,000 ETHFI worth $320,000 to Coinbase Prime. The tokens were all acquired by Spartan Group through vesting after making investments.

A U.S. court denied a request by the Commodity Futures Trading Commission to halt New York State’s case against prediction market platform Kalshi, The Block reported. New York State prosecutors had earlier sued Kalshi, alleging it operated an unlicensed illegal gambling venue. The CFTC pushed back, arguing federal agencies hold exclusive regulatory authority over event contracts. With the latest court decision, the state’s lawsuit against Kalshi is expected to proceed for now.

Bitcoin miner Sphere 3D said it plans to launch a $10.3 million at-the-market common stock program to secure operating funds. Under the program, the company can issue and sell common shares from time to time at market prices through designated sales agents or brokers. Sphere 3D also said it plans to raise funds by selling mined BTC when needed.

European and UK financial institutions are sharply increasing investment in crypto infrastructure as the regulatory environment becomes clearer, Bitcoin.com reported. Fireblocks, a crypto infrastructure company, recently surveyed about 600 executives at financial institutions in Europe, and found that most expect crypto regulation to expand adoption. The survey showed that institutions in Europe, where regulatory standards were established earlier, are focusing on investment and the launch of tokenized funds, while those in the UK, where regulation is still being introduced, are actively pursuing the issuance of their own stablecoins.

Kenya’s National Examinations Council is introducing blockchain-based certificate verification and will move 15 million academic records to the Avalanche (AVAX) network, The Block reported.

Binance founder Changpeng Zhao said holding cryptocurrencies on exchanges can in some cases be safer than self-custody. In a post on X, Zhao said hacks involving self-custodied assets often go unreported, while exchange hacks are easier to track and tend to become broader market issues. He added some exchanges respond well to security threats, although defunct exchanges can drag down the overall average. Zhao said he was not arguing that keeping assets on exchanges is always better, but that a balanced approach is preferable to insisting self-custody is always the right choice.

Upbit announced it will temporarily suspend EGLD and MultiversX network deposits and withdrawals from 11:00 a.m. UTC on Aug. 6 to support a MultiversX (EGLD) network upgrade.

U.S. Treasury tokenized assets issued across 18 blockchains have reached a total of $15.2 billion, according to Token Terminal data. Ethereum accounted for the largest share at 43.2%, followed by BNB Chain at 31.5% and Stellar at 7.5%.

Access restrictions on high-performance AI models are widening a security gap for much of the crypto industry, leaving many firms without the latest defensive tools as AI developers try to curb cyberattack misuse, Cointelegraph reported. Some organizations, including Coinbase and Shielded Labs, a Zcash ecosystem entity, have secured access to Anthropic’s Mitos and conducted security audits, according to the report. Many large crypto companies, including Binance, still do not have access. Security specialists in the crypto sector argue defenders also need advanced AI models to keep pace with increasingly sophisticated attackers. Recent incidents have included suspected AI-assisted vulnerability attacks targeting Boltz, a non-custodial Bitcoin swap platform, and Coinkite, the maker of the Coldcard crypto wallet, as related damage rises.

BTC perp long/short ratios on top exchanges by open interest The following are the 24-hour long/short ratios for BTC perpetual futures on the world’s three largest crypto futures exchanges by open interest: Overall: 49.56% long, 50.04% short - Binance: 50.02% long, 49.98% short - OKX: 50.84% long, 49.16% short - Bybit: 52.57% long, 47.43% short

Galaxy Research said the potential damage from a security flaw in Coldcard hardware wallets could rise to as much as 2,000 BTC ($130 million), according to The Block. The research team said three attacks and 14 smaller security incidents have so far led to the theft of 1,596 BTC from 7,300 addresses. It explained the incident stemmed from a random number generation flaw in firmware used by the Coldcard Mk3 through Mk5 and Coldcard Q, while issuer Coinkite has already deployed an emergency update. Galaxy Research added total losses could reach 2,055 BTC if a fourth attack, which has not yet been fully confirmed, is included. It said the fourth attack follows the same pattern as the earlier incidents, and that it is working with U.S. federal investigators and exchanges on the response. The research also found 90% of the stolen funds have not yet moved.

Solana validators are advancing two governance proposals, SIMD-0550 and SIMD-0553, to reduce new SOL issuance and increase token burns, CoinDesk reported. If approved, the proposals could raise the network’s daily burn from 650 SOL ($47,000) to as much as 9,000 SOL ($650,000), bring forward the date for reaching Solana’s 1.5% inflation target to 2029 from 2032, and cut issuance by about 18.9 million SOL over six years. To be put to a vote, the proposals need backing from 64.89 million SOL, or 15% of the current amount of staked SOL, but they still need support from about 40 million additional SOL. CoinDesk added that some critics argue a deflationary shift would remain difficult even if daily burns rise, as that would still fall short of the 60,000 SOL issued each day.

Nigeria issues crypto tax guidelines covering stablecoins, NFTs and airdrops Nigerian authorities have issued cryptocurrency tax guidelines covering stablecoins and NFTs, The Block reported. The authorities also specified that crypto income earned through mining, staking and rewards such as airdrops is subject to taxation. Nigeria implemented an executive order on cryptocurrency regulation in mid-July.

Crypto market trading volume falls to around $15B, lowest level this year Crypto market trading volume came in at around $15 billion last week, the lowest level this year, according to Kaiko. That was down about 70% from January, when volume reached its highest level of the year.

Bithumb announced the addition of MetaDAO (META2) and Global Dollar (USDG) to its South Korean won trading pairs at 7:00 a.m. UTC on Aug. 4.

Spot CVD refers to an order-book analysis chart for the BTC/USDT spot trading pair. The upper panel shows the Volume Heatmap, while the lower panel shows cumulative volume delta, or CVD. - The volume heatmap in the upper panel tracks trading volume at each price level. The background becomes brighter when the price stays in a specific range for an extended period or moves sharply. Brighter zones may act as support or resistance levels. - The cumulative volume delta indicator in the lower panel reflects buy and sell orders by order size. As buy orders increase, the line in the corresponding color rises. The yellow line represents orders between $100 and $1,000, while the brown line represents large orders between $1 million and $10 million.

Upbit announced the addition of DeFi App (HOME) to its South Korean won and USDT trading pairs at 8:00 a.m. UTC today.