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The leader of the UK's Reform Party has been accused of improperly lobbying the central bank against a digital pound, possibly related to undeclared grants.
According to Foresight News , Decrypt reports that Labour MP Phil Brickell has filed a whistleblower complaint with the Parliamentary Standards Commissioner regarding Reform Party leader Nigel Farage's alleged lobbying of the Bank of England. The complaint alleges that Farage's push for crypto policies could benefit his largest donor, Christopher Harborne, a major investor in Tether. The core of the complaint involves a private meeting last September, during which Farage allegedly urged Governor Andrew Bailey to abandon plans to issue a central bank digital currency, "Britcoin." The Bank of England subsequently withdrew its proposed £20,000 cap on individual stablecoin holdings. The investigation focuses on whether there is a connection between this grant and Farage's lobbying activities.
Russian Central Bank Governor: Digital ruble will be launched on September 1st.
PANews reported on July 3rd, citing Cointelegraph, that Elvira Nabiullina, Governor of the Central Bank of Russia, confirmed that the digital ruble will be launched as planned on September 1st, and is currently "all ready." The digital ruble will supplement the Russian legal tender ruble, initially accepted by financial and credit institutions. Development of this CBDC began in 2021, and the EU preemptively imposed sanctions on the digital ruble in April 2025 in response to Russia's war in Ukraine. Vladimir Chistyukhin, First Deputy Governor of the Central Bank of Russia, stated that the relevant laws for the digital ruble will take effect on September 1st, with a transition period until July 2027. In contrast, a US housing bill containing a CBDC ban has been submitted to Trump; if the president does not sign it within 10 days, it will automatically take effect, and the ban will last until 2030.
FG Nexus deposited 9,481 ETH into Galaxy Digital to complete its liquidation, incurring a total loss of $86.6 million.
PANews reported on July 1 that, according to Onchain Lens monitoring, FG Nexus ultimately liquidated all its ETH holdings by depositing 9,481 ETH ($14.89 million) into Galaxy Digital. Its total deposits amounted to 51,156 ETH ($109.4 million), resulting in a loss of $86.6 million.
Busan Bank of South Korea completes pilot program for Korean won stablecoin on Kaia Chain.
According to Foresight News , BNK Busan Bank has completed a pilot project on Kaia Chain for a stablecoin infrastructure based on the Korean won, intended for use in digital local currency scenarios. This proof-of-concept (PoC) involved K-STAR Alliance partners AhnLab Blockchain Company, Lambda256, and Open Asset. Test results showed a 100% transaction success rate and a processing time of less than one second.
The Reserve Bank of India reiterated its opposition to the legalization of cryptocurrencies to a parliamentary panel, favoring a containment-style regulatory approach.
According to Foresight News , citing the Economic Times, the Reserve Bank of India (RBI) reiterated its opposition to legalizing virtual digital assets (VDAs, including cryptocurrencies) to the Standing Committee on Finance of the Indian Parliament on Thursday, arguing that such assets pose a threat to emerging economies. This marks the first time the RBI has directly addressed the issue of cryptocurrencies to the committee, which was holding a meeting that day to discuss "Research on Virtual Digital Assets and Future Paths." RBI officials stated that virtual digital assets should not be granted legal status at this stage, arguing that such assets could be used for illicit activities such as terrorist financing and drug trafficking, and that regulating related offshore entities would be difficult. According to another report, the RBI favors a prohibitive containment strategy to ensure that banks and regulated financial institutions are protected from the risks associated with this asset class. The RBI also criticized stablecoins pegged to fiat currencies (such as the US dollar), arguing that they undermine national monetary sovereignty, and advocated that users switch to a central bank digital currency (CBDC) issued by the RBI itself for virtual asset transactions. Following the meeting, Committee Chairman Bhartruhari Mahtab told the media that the RBI opposes legalizing virtual digital assets in India. He also noted that compared to other digital assets, the RBI's own digital currency (e-rupee) is "not a thriving asset," currently boasting approximately 10 million users, representing only 0.42% of India's population, and struggling to gain traction despite the unified payment interface (UPI, which processes over 300 million transactions daily). The meeting also heard feedback from the Institute of Chartered Accountants of India (ICAI), which supports a comprehensive legal framework for virtual digital assets. The RBI also questioned long-held claims that India is one of the world's largest adopters of cryptocurrency, arguing that the statistical methods used by private blockchain analytics firms are flawed and may overestimate adoption rates in more populous countries.
Digital China: Wins bid for a Huawei intelligent computing server procurement project from a major state-owned bank, with an estimated value of 371 million yuan.
Mars Finance reported on July 3 that Digital China (000034.SZ) announced that its subsidiary, Beijing Shenzhou Kuntai Information Technology Co., Ltd., won a Huawei intelligent computing server procurement project for a large state-owned commercial bank. The estimated procurement amount is 371 million yuan (subject to actual settlement). The project will supply Shenzhou Kuntai supernode servers. If successfully implemented, it will have a positive impact on the company's information technology application innovation business and overall operating performance. Currently, a formal contract has not yet been signed, and there is some uncertainty. (Company Announcement)