On July 8, the Pakistan government announced the establishment of the Pakistan Virtual Assets Regulatory Authority, an independent body responsible for licensing, monitoring, and supervising virtual asset service providers (VASPs). Introduction of Virtual Assets and Trust The Pakistan government announced on July 8 the launch of the Pakistan Virtual Assets Regulatory Authority (PVARA), a body […]

On the same day the U.S. House of Representatives passed President Donald Trump’s flagship piece of legislation, the so-called “One Big Beautiful Bill,” Republican House leaders also declared the week of July 14, “Crypto Week,” according to a press release published by Arkansas House Republican French Hill. Crypto Week will feature a marathon review of […]

The SEC delivered sweeping guidance for crypto ETP issuers, outlining strict disclosure standards that could fast-track compliant offerings and expand institutional access to digital assets. SEC Clarifies Rules for Crypto ETPs Under Securities Acts The U.S. Securities and Exchange Commission (SEC) issued a detailed statement on July 1 clarifying how issuers of crypto asset exchange-traded […]

New York Attorney General Letitia James is warning that dangerously flawed stablecoin bills could expose U.S. financial markets to chaos by lacking critical guardrails and enforcement. Weak Stablecoin Bills Risk Undermining US Financial Stability, James Warns New York Attorney General Letitia James has raised concerns that proposed federal legislation on stablecoins lacks the safeguards needed […]

Can Elon Musk and Donald Trump get into a sparring match again so I can slurp more $TSLA on the dip? Oh, wait, it’s happening! Say hello to the ‘Elon Musk New Political Party.’ The Tesla CEO and former Department of Government Efficiency lead just called the president’s 940-page “Big, Beautiful Bill” for sweeping tax cuts a “disgusting abomination.” Moreover, Musk publicly floated the idea of launching a new political party to break the current system. (X) As U.S. senators deliberate the bill’s final amendments, Musk has gone even further, advocating for an alternative political party to address what he perceives as reckless fiscal policies and bipartisan dysfunction. Elon Musk New Political Party: Grievances with the “Porky Pig Party” Musk’s frustration with the so-called “Big, Beautiful Bill” centers on its proposed tax breaks and sharp cuts to healthcare and food assistance programs. Musk lambasted, “It is obvious with the insane spending of this bill, which increases the debt ceiling by a record FIVE TRILLION DOLLARS that we live in a one-party country – the PORKY PIG PARTY!!” (X) Some see Musk’s push for a new political party as a last-ditch effort to win back Democrats who’ve distanced themselves from Tesla and SpaceX since his rightward pivot last year. But others argue it tracks with his longstanding libertarian streak of less government and less spending. Adding to his criticism, Musk urged every member of Congress who supports the bill to “hang.” Oh, sorry, he said to “… hang their heads in shame.” He also issued a stark political warning, vowing, “They will lose their primary next year if it is the last thing I do on this Earth.” Is This The Final Elon Crash Out? Another twist unfolded with Musk publicly backing Thomas Massie, the Kentucky congressman Trump cronies love to hate. Massie, a fiscal hawk and many argue true “America first” politician, has butted heads with Trump all year. Now with Musk in his corner, rumors of a 2028 presidential bid are gaining traction. Elon says he will support Thomas Massie pic.twitter.com/eYtjrsb1Z1 — Natalie F Danelishen (@Chesschick01) July 1, 2025 Conversely, Bill Schneider, a public policy professor, noted, “Elon Musk is a billionaire. There are not enough billionaires to form a party in the U.S., even if they are unhappy with President Trump.” Unsurprisingly, Trump responded to Musk’s criticism by zeroing in on the federal subsidies Musk’s companies have historically benefited from. On his Truth Social platform, Trump quipped, “Elon may get more subsidies than any human being in history, by far. Without subsidies, Elon would probably have to close up shop and head back home to South Africa.” (X) As Musk points out about the “BBB,” if, eventually, the plates that are the U.S. debt become too large and too numerous to keep spinning. Musk argues that the more plates added, the worse the crash will be. EXPLORE: XRP Price Jumps 11% After SEC Crypto Unit Tease XRP ETF Progress Join The 99Bitcoins News Discord Here For The Latest Market Updates Key Takeaways

• Musk called the president’s 940-page “Big, Beautiful Bill” an abomination
• On his Truth Social platform, Trump quipped, “Elon may get more subsidy than any human being in history, by far.