Here’s what happened in crypto today
Today in crypto, the US and UK signed an agreement to collaborate on AI, nuclear energy, telecom and quantum technology. Australia granted exemptions for stablecoin distributors, and Coinbase’s Brian Armstrong voiced confidence that a crypto bill will pass Congress.US, UK to collaborate on AI, quantum computing, nuclear energy developmentThe United States and the United Kingdom signed a memorandum of understanding on Thursday to jointly develop artificial intelligence, nuclear energy, telecommunications and quantum computing for a wide range of uses, including space travel, military defense, targeted biomedical drugs and medical procedures.The MOU, which is not legally binding and changes no existing agreements between the two countries, proposes joint research initiatives between a host of government departments and agencies in both countries to study these emerging technologies.The two countries will form a task group to develop quantum computing hardware, software, algorithms and interoperability standards, according to the MOU.Quantum computing has become a high-interest topic in the crypto community, as sufficiently powerful quantum computers could crack modern encryption standards that are central to crypto’s very existence.The UK and US will also explore building 6G mobile telecommunications networks as part of the technological research and development effort.ASIC eases licensing rules for stablecoin distributors in AustraliaThe Australian Securities and Investments Commission (ASIC) has introduced licensing exemptions for intermediaries involved in the distribution of stablecoins issued by licensed entities.Under the newly published ASIC Corporations (Stablecoin Distribution Exemption) Instrument 2025/631, intermediaries distributing a stablecoin issued by an Australian financial services (AFS) licensee are no longer required to hold their own AFS, market or clearing and settlement facility licenses.“ASIC is committed to supporting responsible innovation in the rapidly evolving digital assets space, while ensuring important consumer protections are in place by having eligible stablecoins issued under an AFS licence,” the regulator said in a Thursday announcement. According to ASIC, the exemption only applies to stablecoins classified as financial products under the current Corporations Act and issued by eligible AFS-licensed entities.The exemption covers a range of financial services related to secondary stablecoin distribution, including providing general advice, making a market, dealing in (but not issuing) the stablecoin and custodial services.Crypto Clarity Act a “freight train leaving the station” — Coinbase CEOCoinbase CEO Brian Armstrong said on Wednesday that legislation to define who polices crypto in the US has “a good chance of getting done” after witnessing strong bipartisan support for the crypto market structure bill this week. Armstrong had met with lawmakers over the last few days over the Digital Asset Market Clarity Act, saying it was “how we ensure the crypto industry can be built here in America, driving innovation and protecting consumers, and making sure we never have another Gary Gensler trying to take your rights.”I was in DC the last few days working to get MARKET STRUCTURE legislation passed for crypto. This is how we ensure the crypto industry can be built here in America, driving innovation and protecting consumers, and making sure we never have another Gary Gensler trying to take your… pic.twitter.com/UqCH8jCNU8“The Senate is strongly supportive of getting this done; the members I met with on both sides of the aisle are ready to get this legislation passed,” he added, noting that the draft bill is being exchanged back and forth before it heads to the industry participants for public input.The Digital Asset Market Clarity Act would clarify the roles of the Securities and Exchange Commission, the Commodity Futures Trading Commission and other financial agencies in regulating the crypto market, especially non-stablecoins such as tokenized stocks.“I think this has a good chance of getting done, I’ve actually never been more bullish on the market structure [bill] getting passed; it’s a freight train leaving the station,” said Armstrong.