Welcome to the #26 issue of The Bitcoin Act, where every Tuesday and Sunday we track the legal and regulatory moves that actually shape Bitcoin, cutting through noise, narratives, and theater.

Now for today’s top stories:

🇷🇺 Russia Proposes Bank BTC Licenses
Central Bank proposes banks get Bitcoin exchange licenses via notification, 1% cap, trading from July 2026.

🚫 Vancouver Rejects City Bitcoin Reserve
Staff rules Bitcoin not allowable under Charter, blocks Mayor's proposal.

🇵🇰 Pakistan Enacts Bitcoin Regulator
PVARA announces Virtual Assets Act 2026, creates authority to license/supervise Bitcoin providers with AML rules.

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SEC Chairman Paul Atkins submitted guidance to White House on securities laws for altcoins, proposing token taxonomy to classify which fall under SEC as securities, affirming Bitcoin's commodity status free from such oversight.

Federal Judge Jeannette Vargas dismissed lawsuit by 535 terrorism victims against Binance for facilitating funds to groups like Hamas, citing no direct attack link, but permitted refiling, exposing centralized risks versus Bitcoin's decentralization.

Sen. Elizabeth Warren (D-MA) criticized SEC for dismissing claims against Tron founder Justin Sun post his $90M Trump venture investment, demanding Bitcoin bills address presidential corruption to maintain agency independence.

Binance countered Sen. Richard Blumenthal's Iran sanctions violation probe as reliant on false media reports, denying direct ties and touting 97% illicit exposure reduction, highlighting alt exchange pitfalls absent in Bitcoin.

Russia's Central Bank Governor Elvira Nabiullina suggested banks obtain Bitcoin exchange licenses via simple notification using existing banking permits, with 1% capital exposure cap to enable regulated trading starting July 2026.

U.S. Treasury Secretary Scott Bessent tweeted that he enjoyed meeting President Nayib Bukele at the Shield of the Americas summit, commending El Salvador's pro-market reforms and efforts to become a Bitcoin hub while pledging continued collaboration to strengthen hemispheric economic strategies.

Bitcoin advocate Pierre Rochard argued on X that Bitcoin should be fully tax exempt, amplifying congressional calls to reform tax codes for miners and stakers, cementing America's lead in sound money innovation.

Pakistan Virtual Assets Regulatory Authority (PVARA) announced the passage of the Virtual Assets Act 2026, establishing a full licensing, supervision, and AML/CTF regime for Bitcoin service providers to promote investor protection, and market stability in line with international standards.

Sen. Cynthia Lummis (R-WY) announced lawmakers are crafting policies to allow Bitcoin as everyday exchange medium without capital gains taxes, enhancing its utility as sound money.

Crypto law firm Kelman PLLC, highlighted Turkey’s ruling party bill imposing a 10% flat tax on Bitcoin gains (hikeable to 20%) plus a 0.03% transaction fee on service providers, warning it could set a dangerous template for punitive worldwide Bitcoin taxation models.

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🇬🇧 $16M – Major Tether investor’s donations to a UK political party advocating Bitcoin-friendly policies have reached $16 million, highlighting growing institutional lobbying for regulatory clarity and reduced enforcement aggression. The Block

🏛️ $46M – FBI arrests contractor’s son John Daghita for allegedly stealing $46 million in seized Bitcoin from US Marshals Service custody, linked to 2016 Bitfinex hack funds. Decrypt

💥 29 – 29 U.S. lawmakers urge permanent CBDC ban to crush surveillance risks and Fed money control, slamming current bill's mere delay to 2031 as insufficient. CoinBureau

🇨🇦 2024 – Vancouver municipal staff officially rejected Mayor Ken Sim’s 2024 Bitcoin reserve proposal, citing Vancouver Charter prohibition on holding Bitcoin as an allowable municipal investment asset. Atlas21

🇰🇿 $350M – Kazakhstan's central bank plans to invest up to $350 million in crypto-related assets, according to local media reports, signaling state-level allocation toward Bitcoin and related holdings amid global sovereign interest. The Block

“I don’t believe we shall ever have a good money again before we take the thing out of the hands of government, that is, we can’t take them violently out of the hands of government, all we can do is by some sly roundabout way introduce something they can’t stop.” — Friedrich Hayek

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