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U.S. Senate Banking Committee Sets Hearing on Crypto Legislation Next Week
The congressional committee that was a roadblock in the previous session has scheduled a Feb. 26 hearing on "bipartisan legislative frameworks" for crypto.
Updated Feb 21, 2025, 6:01 p.m. Published Feb 21, 2025, 4:37 p.m.
What to know:
The U.S. Senate Banking Committee has scheduled a hearing to discuss bipartisan digital assets legislation next week, the panel announced.
This Senate committee was the one that became a bottleneck in the previous congressional session, but it's now run by Senator Tim Scott, a South Carolina Republican who supports crypto.
The hearing will feature testimony from witnesses including lawyers from Kraken and Lightspark.
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KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
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Iran accepts cryptocurrency as payment for advanced weapons
Prospective customers could purchase weapons such as missiles, tanks and drones using crypto, according to a government website.
What to know:
- Iran's Ministry of Defence Export Center is accepting cryptocurrency payments for advanced weapons systems as a means of bypassing international sanctions that the country faces.
- The offer is among the first known instances of a country accepting cryptocurrency as a means of payment for military equipment, according to the Financial Times.
- The facility for using cryptocurrency to pay for transactions involving sanctioned countries is already well established.
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