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From the TRON blockchain going public to JP Morgan’s deposit token pilot launch, here is a roundup of the top crypto stories you may have missed.
Thailand Opens Public Consultation for New Crypto Rules
The Thai Securities and Exchange Commission (SEC) has opened a public hearing to revise the rules governing which digital assets can be listed and offered on local exchanges. The proposed changes aim to match recent developments in the digital asset space while strengthening investor safeguards.
- The proposed rules would allow exchanges to list utility tokens and cryptocurrencies that function as utility tokens, including those issued by the exchange or its affiliates. These tokens must be usable within a blockchain ecosystem.
- Exchanges would also be required to disclose key information about any related parties involved with listed tokens. This aims to enhance transparency and oversight.
- Tokens already listed before these rules take effect would also fall under the new transparency requirements. Exchanges must ensure compliance within a defined period.
More recently, Thailand has also waived capital gains tax on cryptocurrencies for five years as long as the trade happened on local exchanges.
Justin Sun’s TRON to go Public
TRON, the blockchain platform founded by Justin Sun, is going public through a reverse merger with Nasdaq-listed toy maker SRM Entertainment, which supplies merchandise to major theme parks like Disney and Universal Studios.
As part of the deal, SRM will raise $100 million from a private investor to acquire TRON’s native token, $TRX, and issue new preferred shares and warrants, valuing the transaction at up to $210 million.
The company will rebrand as Tron Inc., with Sun serving as an advisor. Following the announcement, SRM’s stock surged by 460%, boosting its market cap to approximately $140 million.
The merger was arranged by Dominari Securities, an investment firm linked to the first family of the U.S., with presidential sons Donald Jr. and Eric recently joining its advisory board.
Sun has invested nearly $100 million into U.S. President Donald Trump-aligned crypto ventures this year, including a $75 million stake in tokens issued by Trump’s DeFi project, World Liberty Financial.
GENIUS Stablecoin Act Passed
The U.S. Senate passed the GENIUS Act, a landmark bill aimed at regulating stablecoin issuers, with strong bipartisan support in a 68-30 vote.
Officially titled the “Guiding and Establishing National Innovation for U.S. Stablecoins Act of 2025,” the legislation marks the Senate’s first-ever approval of a major crypto-related law. It sets strict requirements for U.S.-based stablecoin issuers, including one-to-one U.S. dollar backing, reserve transparency, and compliance with anti-money laundering and capital regulations.
The bill now advances to the House of Representatives, where lawmakers must decide whether to pass it as written or propose changes that could send it back to the Senate.
Ripe to Expand in ASEAN
Ripe, a crypto payments startup backed by Alliance DAO and partnered with $USDT issuer Tether, is expanding its presence across Southeast Asia after going live in the Philippines.
The company enables users to pay with stablecoins, like $USDT, via existing fiat QR payment systems such as QRPh, PayNow, and PromptPay.
Currently undergoing quality assurance in the Philippines, Ripe is preparing to scale across the region and integrate natively with popular crypto wallets and apps for improved user experience.
Moreover, according to Ripe, the company’s founding team has been actively promoting this mission at regional events such as the Solana APAC Summit in Vietnam and Philippine Blockchain Week.
OpenAI CEO Sam Altman accused Meta, the mother company of social media platforms Facebook, Instagram, and Threads, of aggressively attempting to poach his top AI researchers with eye-watering signing bonuses of up to $100 million.
Speaking on the Uncapped podcast hosted by his brother, Altman described Meta’s recruitment tactics as “crazy,” claiming the company has been offering both massive upfront payments and annual compensation packages that exceed typical industry standards.
Despite the lucrative offers, Altman said none of OpenAI’s core talent had accepted Meta’s deals, criticizing the approach for prioritizing money over mission and culture.
The claims came amid an escalating AI talent war fueled by multibillion-dollar investments from tech giants racing toward artificial general intelligence.
Meta recently launched a $15 billion initiative into “super-intelligence” and acquired a stake in Scale AI, bringing founder Alexandr Wang onboard.
JPMorgan to Pilot $JPMD Deposit Token on Ethereuem L2 Base
Multinational finance corporation JPMorgan is launching a pilot for its new digital deposit token, $JPMD, on Base, an Ethereum L2 blockchain created by Coinbase, marking the bank’s first use of a public blockchain for tokenized deposits.
The token, backed one-for-one by U.S. dollar deposits, will initially be used by institutional clients, with potential plans to expand access and support additional currencies pending regulatory approval. Unlike stablecoins, deposit tokens are issued by regulated banks and represent a direct claim on bank deposits.
The move builds on JPMorgan’s growing blockchain strategy, which includes its internal Kinexys platform and public blockchain experiments like tokenized U.S. Treasuries and ACH account validation.
Kinexys, which processes over $2 billion in daily payments, will continue focusing on corporate use cases, while $JPMD may eventually be deployed in broader applications.
This article is published on BitPinas: Crypto News You May Have Missed This Week | June 21, 2025
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