Federal Reserve Governor Bowman: Regulators Must Consider How to Respond to New Technologies like Mythos

May 2 — Polymarket data shows the probability of the CLARITY Act being signed into law in 2026 has risen to 60%, a 14 percentage point jump from yesterday. Earlier reports note the CLARITY Act’s stablecoin yield rule has been finalized: crypto firms are prohibited from paying customers “any form of interest or yield” solely for holding a stablecoin (similar to bank deposits or other interest-bearing products). However, the firms may offer rewards tied to “real-world activities.” With the act’s new stablecoin yield terms now public, the legislation could be one step closer to becoming law.

**Bitcoin Targets $80k After Holding 100-Day EMA Support** May 2nd data points flag $80,000 as Bitcoin’s next key level. The top crypto rebounded 2.52% to $78,800 on Friday after holding support at its 100-day Exponential Moving Average (EMA), maintaining a strong short-term uptrend. - **Spot Demand Surges**: Cumulative Volume Delta (CVD) hit 11,500 BTC — the highest since Feb 17 — signaling buyers absorbed supply during recent pullbacks. - **Derivatives Expand**: Open interest (OI) rose 6.64% to 257,000 BTC, indicating new positions as BTC consolidates below $80k. This follows a ~9,000 BTC liquidation of excess leveraged bets. - **Futures Activity Picks Up**: Volume recovered to 98,300 BTC (returning net buying pressure) but remains below April 27 pullback levels. Liquidity clusters in the $78k-$80k range, with ~$2.1B in short positions at risk — a potential short squeeze trigger. - **Institutional Tailwinds**: OTC desk 30-day balance change is ~-20,700 BTC (similar to Mar

On May 2, the U.S. Navy is partnering with U.S.-based Domino Data Lab to conduct mine clearance operations in the Strait of Hormuz using artificial intelligence (AI) technology. Under the terms of their agreement, Domino Data Lab is training underwater drones to detect new mine types via AI. The company notes its technology cuts underwater drone training time from six months to just a few days. Source: CCTV News

May 2 — Faryar Shirzad, Coinbase’s chief legal officer, said the CLARITY Act—designed to bring regulatory clarity to the U.S. crypto industry—is one step closer to becoming law after the release of new stablecoin yield rules. Senators Thom Tillis and Angela Alsobrooks previously unveiled final text aimed at resolving a stablecoin yield dispute between banks and crypto firms, centered on whether such yields would undermine the banking system’s competitiveness. Shirzad said: “In the end, banks lobbied for stricter reward restrictions, but we held firm on what matters: Americans’ ability to earn rewards tied to real-world usage on crypto platforms and networks.” Section 404 of the bill—banning yield-generating payments for payment stablecoins—bars crypto firms from paying customers any interest or yield solely for holding a stablecoin (similar to a bank deposit or other interest-bearing product). It does, however, allow rewards linked to “real-world activities.” Some industry

On May 2, Bloomberg reports that the UK Treasury and Bank of England are weighing slowing development of the digital pound, nicknamed “Britcoin.” UK officials are eyeing a middle-ground approach: delaying progress on the CBDC rather than making a final call this summer to approve or scrap the project. One key driver for the delay? Private-sector innovations like tokenized deposits may offer alternatives—enabling faster, cheaper payments while tapping the existing regulated banking system. Bank of England Governor Andrew Bailey still doubts the need for a retail digital pound, per the report. By contrast, the European Central Bank is pushing ahead with its digital euro initiative, while the U.S. has paused work on a central bank digital currency (CBDC).