Launchy Regulatory Roundup #58 - Trump Declares Active Trade War With China

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Welcome to our 58th edition of the regulatory roundup. If you know anybody who would benefit from this content, please help us spread the word!

In Today's Edition:

• Headline: Trump Declares Active Trade War With China 👀 

• Global Legal Roundup

• Case Study: SEC Chair Atkins Pushes Pro-Crypto Innovation Agenda 🔎 

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HEADLINE

Trump Declares Active Trade War With China

State of play: US President Donald Trump confirmed that the United States is now in an active trade war with China, following his recent threat to impose a 100% tariff on all Chinese imports.

• The announcement comes after China tightened export controls on rare earth minerals critical for chip manufacturing.

• Treasury Secretary Scott Bessent warned that China’s economic tactics would “hurt itself the most,” framing the conflict as “China versus the world.”

• The initial tariff threat triggered a sharp crypto selloff. However, markets have since stabilized.

• The tariffs have also impacted the Bitcoin mining sector, raising import costs for ASIC miners from China and Southeast Asia by up to 57.6%.

• Despite these challenges, major US mining firms have yet to relocate their operations abroad.

What’s Next: The US–China trade clash is likely to drag on. Beijing could hit back with its own measures, while Washington pushes harder to build chips and mining gear at home.

Why it Matters: Tariff tensions ripple far beyond trade. They raise mining costs, tighten supply chains, and add another layer of uncertainty to already fragile crypto markets.

Our Take: Crypto may be decentralized, but its fate still depends on real-world supply lines.

GLOBAL LEGAL ROUNDUP

America:

• 🇺🇲 SEC Commissioner says tokenization is a 'huge focus now'.

• 🇺🇲 Federal Reserve Gov warns of gaps in GENIUS stablecoin law.

• 🇺🇲 New GOP bill aims to codify Trump's executive order on crypto.

• 🇺🇲 White House reportedly mulling pardon for Binance founder CZ.

• 🇺🇲 California approves law to preserve unclaimed crypto in original form.

• 🇺🇲 NYC Mayor launches first-ever city office for digital assets & blockchain.

Europe:

• 🇨🇭 GESPA takes aim at FIFA’s NFT platform in formal complaint.

• 🇬🇧 Bank of England clarifies plan to limit stablecoins is temporary.

Middle East & Africa:

• 🇬🇭 Ghana central bank targets December to have crypto regulations in place.

APAC:

• 🇯🇵 Japan sets out to ban insider trading in crypto.

• 🇯🇵 Japan’s FSA weighs allowing banks to hold cryptos.

• 🇦🇺 Australia moves to target crypto ATMs under new AML powers.

• 🇧🇹 Bhutan to anchor its national digital identity system on Ethereum.

• 🇨🇳 Chinese tech giants halt HK stablecoin plans amid Beijing concerns.

CASE STUDY

SEC Chair Atkins Pushes Pro-Crypto Innovation Agenda

State of play: SEC Chair Paul Atkins reaffirmed his pro-innovation stance on crypto regulation at DC Fintech Week, declaring that cryptocurrency and tokenization are the agency’s top priorities.

• Atkins said his goal is to build a framework that attracts crypto firms back to the US.

• Since taking over in April, Atkins has moved sharply away from former Chair Gary Gensler’s enforcement-heavy approach.

• He has promoted distributed ledger technology as a key growth area and is preparing an “innovation exemption” to allow faster on-chain product launches by year-end.

• Atkins also floated the idea of a unified “super app” to streamline multi-agency registration for crypto firms.

• The SEC’s progress, however, remains limited as the agency operates with minimal staff during the ongoing government shutdown.

Our Take: Atkins is clearly trying to turn the SEC from a watchdog into a partner for builders.

Take a peek at our referral reward at the bottom of this issue. Share this newsletter and receive our comprehensive database of crypto regulations around the world👇

NOTEWORTHY READS & MEME

• Galaxy’s read on the Uncle Sam’s Bitcoin Pile.

• Crypto in America’s read on Crypto Market Structure Talks Stall.

• Jake Chervinsky’s read on Senate Democrats & Market Structure Bill.

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Disclaimer: All the information presented in this publication and its affiliates is strictly for educational purposes only. It should not be construed or taken as financial, legal, investment, or any other form of advice.