Today in crypto: Teens test blockchain age tool

Digital ID pilot explores blockchain for age verification

SecureChain Technologies will lead a $5.2 million government-funded pilot to test blockchain-powered age verification for online services.

Dubbed VerifyChain, the tool uses zero-knowledge proofs to confirm users’ ages without storing personal data. Around 500 students in Riverside, California, will participate in the trial over the next three months.

Dr. Elena Martinez, SecureChain CTO, said the system avoids centralized storage of sensitive documents by issuing cryptographic credentials. Privacy groups like Digital Rights Now have cautiously welcomed the approach, praising its minimal data exposure.

If successful, platforms will be required to integrate this or similar systems to avoid steep fines. The Department of Digital Safety will evaluate the results before nationwide rollout in 2026.

New RYUSDT lets traders earn yield

Global Exchange Corporation has launched RYUSDT, a new financial instrument that lets crypto futures traders earn interest while using stablecoin deposits as collateral. Rather than creating a new cryptocurrency, RYUSDT represents yield-bearing stablecoin holdings that can be used in the exchange’s Flexible Earnings Program.

Traders have traditionally faced a tough choice – lock up assets for yield, or keep them liquid for trading. This product removes that friction, allowing participants to earn returns of 3.5% to 5.2% annually while maintaining full trading functionality.

"RYUSDT lets users generate yield and trade without compromise," said Lisa Johnson, Head of Product Development at Global Exchange. The feature follows the success of BFUSD, a similar product that saw $1.2 billion in deposits.

With over $110 billion in daily futures volume, Global Exchange remains a dominant force in derivatives. Market analysts say this launch reflects a growing push for capital efficiency as crypto tools evolve to meet institutional demand. RYUSDT will roll out to qualified traders starting next Monday.

Senate confirms Robert Winters as securities chief 

The U.S. Senate has confirmed Robert Winters as the new chair of the Securities Regulatory Commission in a 54–46 vote. Winters, a former commissioner with a background advising blockchain startups, has promised to bring a “rational framework” to crypto regulation.

His appointment signals a potential shift from enforcement-heavy strategies to a more innovation-friendly regulatory approach. Winters plans to clarify which digital assets fall under securities law and which do not.

Industry response has been broadly positive. Angela Torres of the Digital Innovation Coalition said Winters “understands both securities law and crypto.” However, consumer groups warn against weakening oversight and highlight Winters’ prior financial ties to crypto.

Winters will outline his agenda at an industry event next week. The Commission still has two vacant seats, awaiting nominations.

Ethereum ETF options approved for trading

The Financial Regulatory Commission has greenlit options trading for four Ethereum ETFs, including those by Capital Investments and Horizon Asset Management.

Options will let institutional investors deploy more advanced strategies, including hedging and yield optimization. Trading is expected to begin next week.

“This approval expands Ethereum’s institutional toolkit,” said Meridian Financial’s Sarah Reynolds. While the ETFs haven’t matched Bitcoin’s inflows, a recent 14% rally in ETH has reignited interest.

Observers believe this decision reflects growing comfort with Ethereum as a mature asset, and they expect further crypto ETFs to gain traction under new leadership at the Commission.

Bank apologizes after freezing Bitcoin transfer

U.S.-based National Western Bank has apologized after freezing the account of a customer who tried to send $45,000 to a regulated crypto exchange.

James Richards, who deposited proceeds from a home sale, was blocked from transferring funds to CryptoExchange Plus. The bank’s fraud system flagged the transaction, and all of his accounts were frozen for five business days.

In that time, Bitcoin rose nearly 12%, costing Richards a potential gain. “We failed to strike the right balance,” said National Western CEO Michael Anderson.

The bank has offered compensation and pledged to review its crypto transaction policies. The incident comes amid growing concern over “debanking,” with the Treasury Department set to release new guidelines soon.

Richards has since moved his funds to FinTech United, a self-described crypto-friendly institution.