What has been happening this week in the world of blockchain and cryptocurrencies? Current events and background reports in our weekly review.
Selected articles of the week:
Raiffeisen Switzerland will offer crypto trading and custody from 2027, as the bank confirmed exclusively to CVJ.CH this week. A cooperative comprising 212 independent banks, Raiffeisen is the second-largest Swiss banking group after UBS and the country’s largest retail bank by customer count. Its balance sheet totaled around CHF 323 billion at the end of 2025, with customer deposits at CHF 225.8 billion and custody assets at CHF 59.7 billion. Sygnum Bank will serve as partner, having reached unicorn status in January 2025 through a USD 58 million funding round and currently servicing several Swiss banks. The move comes as no surprise: with roughly 20 providers, Switzerland now hosts the world’s densest crypto banking landscape. Soon, UBS will be the only major Swiss bank without a retail crypto offering.
Raiffeisen crypto trading and custody arrive in 2027, with Sygnum as external partner. The group confirmed the move to CVJ.CH
US Senate blocks CLARITY Act over ethics clause
In Washington, the most important crypto bill risks collapse in its final phase: the Senate Banking Committee approved the CLARITY Act 15-9, but the chamber lacks the required 60 votes. With only 53 Republican seats, at least seven Democrats are needed – in committee, only Ruben Gallego and Angela Alsobrooks were persuaded. The central sticking point is an ethics clause that would bar senior government officials from crypto dealings and is opposed by the White House; the Van Hollen amendment failed 11-13. The bill would reshape oversight: digital asset commodities to the CFTC, restricted digital assets to the SEC, and stablecoins under joint supervision. Galaxy Research nonetheless puts the probability of 2026 passage at 75%, with expected signing in the week of August 3. Operational implementation through SEC and CFTC rulemaking is unlikely to take effect before 2027.
The CLARITY Act passed the Senate Banking Committee 15 to 9. In the full Senate, 7 votes are missing and ethics dispute blocks the path.
VanEck launches first US spot BNB ETF on Nasdaq
Crypto product provider VanEck has launched the first US spot BNB ETF under the ticker VBNB on Nasdaq, closing one of the last gaps in the ETF lineup for leading crypto assets. With a market capitalization of around USD 88 billion, BNB ranks as the fourth-largest cryptocurrency. The fund’s sponsor fee is 0.39%, with custody provided by Anchorage Digital Bank in South Dakota. VanEck was the original applicant in May 2025, and after five amendments the regulator removed staking provisions in late 2025. Grayscale’s competing GBNB is still pending but is also expected to receive approval in the foreseeable future.
VanEck lists VBNB, the first US spot BNB ETF on Nasdaq. Sponsor fee 0.39%, custody at Anchorage Digital, no staking at launch.
OpenZeppelin co-founder advises DeFi exit
An unusually stark warning comes from the heart of the DeFi security industry: Manuel Aráoz, co-founder of OpenZeppelin, describes the entire sector as insecure and advises friends and family to exit completely. The statement is notable because OpenZeppelin has conducted more than 900 audits since 2017, secures USD 250 billion in TVL and is used in 9 of the 10 largest stablecoins. Aráoz’s core argument: AI coding agents execute autonomous exploits on 72% of known vulnerabilities, while specialized AI security agents detect 92%. Defenders must fix every bug, while attackers need only one. The numbers support his thesis: in April 2026, USD 630 million was stolen across 27 incidents, the worst month since the Bybit hack in February 2025. Drift Protocol lost USD 285 million over six months of social-engineering infiltration, KelpDAO USD 293 million through a LayerZero bridge vulnerability.
OpenZeppelin co-founder Aráoz calls all of DeFi unsafe and advises exiting. The DeFi security risk also affects Aave and Compound.
In addition: Tokenized shares as a Swiss tax model
Tokenized equity shares are gaining attention as a tax-efficient alternative to classic equity, as a guest contribution by Dominic Nazareno and Christoph Drexl, both partners at PrimeTax AG, outlined this week. Classic participations are subject to 35% withholding tax on distributions – for individuals, a non-refundable base of 15% remains after DTA reimbursement. Contract-based investment tokens, by contrast, are treated differently by the ESTV provided two thresholds are observed: token holders may collectively hold at most 50% of issued tokens, and the profit participation rate must not exceed 50% of EBIT. With proper structuring and a binding tax ruling, withholding tax, profit tax and VAT can be addressed differently than with classic share participations. Switzerland thereby continues to strengthen its position as a jurisdiction offering regulatory clarity for tokenization.
Tokenization opens up new ways for companies to engage investors flexibly and structure financing efficiently.
