Hong Kong’s Legislative Council has officially passed the Stablecoin Bill setting the stage for a regulated digital asset framework aimed at turning the city into a global Web3 powerhouse. Legislative Council member Johnny Ng confirmed the bill’s approval and shared that institutions may apply for stablecoin licenses by year-end through the Hong Kong Monetary Authority.

Stablecoins under the new law must be backed by fiat currency ensuring trust and stability in the market. Ng is inviting global companies to apply and is offering personal assistance to foster collaboration and innovation across Asia. He highlighted the potential of stablecoins in enhancing retail payments cross-border trade and peer-to-peer transactions.

Ng also pushed for yield-bearing stablecoins suggesting that offering interest to holders will boost adoption and competitiveness. These comments align with recent data showing yield-bearing stablecoins have surged to $11 billion in circulation. Meanwhile in the US support for Bitcoin is climbing with nearly 50 million Americans preferring it over gold and strong bipartisan political backing emerging in Congress.

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A recent report by River highlights the growing dominance of Bitcoin in the United States revealing Americans now own nearly 40% of all available Bitcoin globally. Around 14.3% of the US population holds Bitcoin exceeding ownership rates across Europe, Asia and Oceania combined. Additionally 32 major US public companies collectively hold about 733,000 Bitcoins representing 94.8% of corporate Bitcoin holdings worldwide. The leading corporate holder is Strategy which alone controls 569,000 Bitcoins.

Public sentiment in America increasingly favors Bitcoin over traditional assets like gold. Approximately 49.6 million Americans now prefer Bitcoin as a reserve asset compared to 36.7 million who still choose gold. This shift underscores Bitcoin’s growing status as a strategic financial asset among American investors due to its fixed supply and rising value.

Political support for Bitcoin in the US is also rising significantly. Currently 59% of US Senators and 66% of House Representatives openly endorse pro-Bitcoin policies indicating growing governmental acceptance of digital assets as vital to America’s economic future.

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Today, the State of Wyoming has officially chartered Gannett Trust Company, the first bitcoin-native trust company in the United States, according to a press release sent to Bitcoin Magazine. Backed by Unchained, a leader in bitcoin financial services, Gannett Trust is purpose-built to serve individuals, family offices, and businesses integrating bitcoin into estate and inheritance plans, investment portfolios, trusts, and treasury strategies.

The launch of Gannett Trust directly addresses a growing need for secure, compliant, bitcoin-native solutions for long-term wealth management. Estimates say around 3.7 million bitcoin may be lost forever, largely due to poor planning and the…

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Sangha Renewables has officially broken ground on a 19.9-megawatt (MW) bitcoin mining facility in West Texas, marking a notable step in its mission to merge sustainable power with digital asset infrastructure, according to a recent press release sent to Bitcoin Magazine. Sangha also announced it has raised $14 million toward its $17 million target, helping bring its vision for renewable-powered bitcoin mining to life. 

Developed in partnership with an independent power producer (IPP), the behind-the-meter facility will be located on an established solar energy site. Sangha’s project is designed to transform underutilized renewable assets into high-yield bitcoin-generating…

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South Korea’s financial regulator has announced new crypto rules that will allow non-profit organizations and virtual asset exchanges to sell digital assets starting in June. This move reverses a 2017 ban and marks a major shift in the country’s approach to cryptocurrency regulation. The Financial Services Commission aims to balance tighter oversight with greater operational freedom for approved entities.

Non-profits must meet strict conditions including five years of audited activity and a dedicated internal committee for reviewing donations. They can only accept crypto listed on at least three Korean won-based exchanges and must sell donated assets immediately. Exchanges will also be allowed to sell crypto but only to raise operating funds with daily limits and cannot use their own platforms.

Only the top 20 cryptocurrencies by market value traded on major Korean exchanges will be allowed for sale. All transactions must follow anti-money laundering rules. New listing standards will also push exchanges to delist low-volume tokens and raise the bar for memecoin approvals to protect investors.

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Strive is set to boost its Bitcoin holdings by acquiring distressed Bitcoin claims from the collapsed Mt Gox exchange targeting rights linked to 75,000 Bitcoin. Partnering with 117 Castell Advisory Group the firm aims to buy claims that have legal approval but are waiting distribution offering a chance to buy Bitcoin at a discount.

The move supports Strive’s plan to become a Bitcoin treasury company before its expected reverse merger with Asset Entities later this year. The company says it faces fewer restrictions than others going public via SPACs and plans to file transaction details with the SEC before seeking shareholder approval.

Asset Entities shares jumped 18 percent following the announcement closing at $7.74 dollars and pushing its market cap to $122 million. Strive will own over 94 % of the merged firm which will continue trading under the ASST ticker. This push into crypto reflects a growing trend of companies adopting Bitcoin as a strategic asset for long term growth.

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Today, New York City hosted its first ever Crypto Summit. The event took place at Gracie Mansion, the mayor’s residence, and was attended by prominent figures from the crypto industry, many of whom are based in New York.

At the event, Mayor Adams made the case that he felt the attendees’ pain, stating that they’ve wrongfully been persecuted, and he claimed that it’s now safe for those in the Bitcoin and crypto industry to speak up and set up shop in New York.

“Look how they’ve treated you,” said Mayor Adams.

“You were treated as though you were the enemy instead of the believers,” he added.

“You’ve been hiding in the shadows, afraid to come out — come out…

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KindlyMD, Inc. has secured shareholder approval for its proposed merger with Nakamoto Holdings Inc., marking a major step toward becoming one of the biggest Bitcoin treasury companies on the market.

The majority of KindlyMD’s shareholders delivered written consent in favor of the merger on May 18, 2025. The transaction is now on track to close in the third quarter of 2025, following the SEC’s review and distribution of an information statement to shareholders. Under current terms, the deal will close 20 days after the statement is mailed.

Full release: are pleased to achieve this important milestone in the merger process,” said Tim Pickett, CEO of…

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