Crypto markets suffered a sharp weekend sell-off as Bitcoin plunged below $76,000, triggering more than $2 billion in liquidations and pushing the price beneath key cost basis and support levels. Corporate treasuries are now feeling the pain, with major Bitcoin and Ether holders slipping into unrealized losses.
At the same time, regulators intensified scrutiny. The U.S. sanctioned Iran-linked crypto exchanges, lawmakers advanced a crypto market-structure bill, and the UK banned Coinbase ads due to risk concerns. Volatility is back, and the policy landscape is shifting fast.
Read the full recap to see what’s driving the next phase.
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TOP CRYPTO NEWS RECAP (January 25 - January 31, 2026)
- US Sanctions Iran-Linked Crypto Exchanges in First-Ever Action
- Trump Nominates Kevin Warsh as Next Federal Reserve Chair
- Bybit Tests Move Into Retail Banking With Neobank Launch
- US Senate Committee Moves Crypto Market Structure Bill Forward
- UK Watchdog Bans Coinbase Ads Over Crypto Risk Concerns
- EU Warns 12 Countries Over Delayed Crypto Tax and MiCA Compliance
US Sanctions Iran-Linked Crypto Exchanges in First-Ever Action
The US Treasury has sanctioned two UK-registered crypto exchanges, Zedcex and Zedxion, for ties to Iran’s financial system, marking the first time Washington has targeted digital asset platforms under Iran sanctions. Officials say the exchanges processed large volumes linked to IRGC-related entities. The move expands U.S. efforts to block Iran’s use of cryptocurrency to circumvent sanctions and finance illicit activity.
Trump Nominates Kevin Warsh as Next Federal Reserve Chair
President Donald Trump has nominated former Federal Reserve Governor Kevin Warsh to replace Jerome Powell as Fed chair, triggering an upcoming Senate confirmation battle. Warsh, a past critic of loose monetary policy and more receptive to Bitcoin than Powell, could shift the central bank’s stance. Markets have begun repricing risk assets as investors weigh the implications of a potentially more hawkish Federal Reserve.
Bybit Tests Move Into Retail Banking With Neobank Launch
Bybit plans to launch a retail banking product, MyBank, in February through a partnership with Georgia-based Pave Bank, backed by Tether Investments. The move highlights how crypto exchanges are exploring bank-like services but face heavy regulatory, licensing, and compliance hurdles. Industry experts say full-service banking could simplify payments but would also bring stricter rules, higher costs, and tougher KYC requirements.
US Senate Committee Moves Crypto Market Structure Bill Forward
The US Senate Agriculture Committee has advanced a major crypto market-structure bill in a 12–11 party-line vote, moving it closer to a full Senate debate. The legislation aims to clarify oversight of digital assets, expand the CFTC’s authority over crypto markets, and establish clearer rules for intermediaries and consumer protections, as lawmakers continue working toward a unified regulatory framework.
UK Watchdog Bans Coinbase Ads Over Crypto Risk Concerns
The UK Advertising Standards Authority has banned several Coinbase ads, including a musical-style video and posters, ruling they were “irresponsible” and trivialized the risks of cryptocurrency investing. Regulators said the campaign suggested crypto as a response to cost-of-living pressures without adequate risk warnings. Coinbase disagreed with the decision but said it remains committed to operating within UK advertising and regulatory standards.
EU Warns 12 Countries Over Delayed Crypto Tax and MiCA Compliance
The European Commission will send formal notices to 12 EU countries for failing to implement new crypto tax reporting rules requiring exchanges to share user and transaction data. The states have two months to comply or face further action. Hungary was also warned for breaching the MiCA framework after legal changes disrupted crypto services, raising concerns over regulatory compatibility.
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