[DigitalToday reporter Hyunwoo Choo (추현우)] The digital asset market over the past week revolved around four major issues: the stalled U.S. Clarity Act, a prolonged Bitcoin trading range, the growing reality of quantum-computing threats and debate over XRP price prospects.

Clarity Act stalls, regulatory uncertainty spreads

The hottest issue recently was the direction of U.S. digital asset regulation. The U.S. Senate has flagged committee review of the Clarity Act for late April. Conflict between industry and lawmakers over a provision banning stablecoin interest intensified. Coinbase reiterated its public opposition to the current revised proposal. Pessimism spread that the bill’s chances of passing this year remain around 30 percent.

Coinbase’s chief legal officer said agreement was near on the stablecoin interest dispute. But the situation changed rapidly within days, and the bill again entered a stalled phase. Analysts say conflicting interests between banks and cryptocurrency companies have become a structural barrier blocking legislation.

• Coinbase: "Cannot support the current revision" fallout... U.S. Clarity Act regulatory plan stalls • Coinbase CLO: "Clarity Act, stablecoin interest issue agreement is imminent" • U.S. Senate Banking Committee member signals review of Clarity Act next week

Regulatory uncertainty in the United States also intersects with the situation in South Korea. South Korea’s Basic Digital Asset Act has also made no progress due to differences between ruling and opposition parties over a provision limiting post-event shareholdings by major shareholders. With legislation delayed in both South Korea and the United States, concerns are emerging that a global regulatory vacuum for digital assets could become prolonged.

Bitcoin’s rangebound trading drags on, ‘digital gold’ narrative tested

Bitcoin again failed to break out of a $60,000 to $70,000 range this week. Analysts say macroeconomic uncertainty from Trump-driven tariff wars is weighing on upside pressure despite continued inflows into spot ETF products by institutional investors. With geopolitical risks rising, gold prices, a traditional safe haven, have fallen while Bitcoin has also remained weak. That combination is putting the ‘digital gold’ narrative back to the test.

Companies that adopted Bitcoin treasury strategies have increasingly sold during Bitcoin’s weak phase, raising worries that corporate holdings could become a source of selling pressure in the market.

• Bitcoin stays below $70,000 in a prolonged range... upside breakout vs deeper weakness • Bitcoin weakness triggers a rush of sales by Bitcoin treasury companies • Bitcoin breaks above $72,000... broad rebound on expectations of an Iran war ceasefire • Trump’s ‘two-week ceasefire’ catalyst... large-scale short liquidation as Bitcoin rebounds

Still, a breakthrough emerged in the deadlocked crypto market on April 8. News was reported that ceasefire talks between the United States and Iran had begun, prompting a broad shift to gains. Bitcoin rose 4.87 percent to above $72,000. Major altcoins such as Ether and Solana also rebounded by 5 to 8 percent.

Quantum-computing threat becomes a current issue, not a future one

An unexpected topic among investors was the threat from quantum computing. A paper jointly released by Google and Caltech delivered a shock by suggesting the quantum resources needed to crack Bitcoin and Ethereum cryptography could be far less than previously expected. A scenario was even raised in which theft could be possible within 9 minutes during transfers by exploiting Bitcoin’s real-time transaction characteristics. That fuelled a view that security concerns are entering a phase of practical reality.

As a result, blockchain projects applying quantum-resistant cryptography have surged. The quantum-resistant coin QRL jumped 40 percent right after the paper’s release. Algorand, which Google cited as a chain applying post-quantum cryptography, also rose more than 16 percent.

• Michael Saylor: "BIP-110 is the biggest risk Bitcoin brought upon itself" • Algorand jumps 16 percent... Google-cited chain applying ‘post-quantum cryptography’ • Even Satoshi coins could be stolen... four ways Bitcoin can survive the quantum threat

Attention has also returned to the fact that Satoshi Nakamoto had already predicted the threat of quantum computers in 2010 and presented countermeasures. The Bitcoin community is discussing a protocol upgrade to respond to the quantum threat, known as BIP-110. But debate continues as a counterargument has emerged that this could instead become the biggest risk Bitcoin brings upon itself.

• Satoshi Nakamoto predicted the quantum threat in 2010... what were the countermeasures 16 years ago? • Nobel Prize-winning physicist: "Bitcoin’s quantum threat is more realistic than you think... prepare now"

XRP faces a ‘triple debate’ over regulation, supply and demand, and price outlook

Articles related to XRP, a leading altcoin in South Korea, dominated the top ranks in page views. That reflects strong investor interest. The issues broadly fall into three streams.

The first is a Ripple partnership with SWIFT. Expectations for XRP rose as Ripple joined as a SWIFT partner, and long-term prospects from CEO Garlinghouse were again discussed. The second is Ripple’s large XRP holdings. Analysts raised the view that Ripple’s holding of as many as 38 billion XRP could become an obstacle to adoption by banks. The third is debate over XRP price outlook. Analysts maintain price targets of $15 and $27, but offer differing views as they point to the current downtrend and low liquidity.

Ripple’s former CTO drew a line, saying his remarks about XRP’s price were not an investment outlook but a discussion about remittance efficiency. There was also an episode in which an April Fools’ Day exchange of words with Avalanche over bank blockchain adoption developed into a serious industry debate.

• XRP expectations rise on Ripple joining as a SWIFT partner... Garlinghouse outlook revisited • Ripple’s holding of 38 billion XRP, could it be an obstacle to bank adoption? • Ripple grows but XRP stays put... "Demand and liquidity matter more than good news"

Stablecoins rise as DeFi hacking keeps investors on guard

The stablecoin market is growing quickly in real usage regardless of regulatory debate. A Standard Chartered report showed average monthly stablecoin velocity is about 6 times, doubling over the past 2 years. It found USDC in particular drove the replacement of payments and traditional finance and the spread of AI payments. Ripple’s CEO pledged that once the company’s stablecoin is launched, it will have an impact on crypto mainstream adoption comparable to the emergence of ChatGPT.

But a DeFi hacking incident this week again exposed vulnerabilities in the stablecoin ecosystem. A $285 million Drift hacking case led to controversy over Circle’s authority to freeze USDC, raising fundamental questions about the actual control structure behind stablecoins that claim decentralisation.

• $285 million Drift hack spreads into controversy over Circle’s authority to freeze USDC • Securities firms eye digital asset exchanges... competition to secure future growth engines • NYT names Adam Back as Satoshi Nakamoto after a year-long reporting project

In South Korea, major securities firms are also eyeing digital asset exchanges. Following Mirae Asset Securities, Korea Investment & Securities has moved to pursue the acquisition of a stake in an exchange. The view is emerging that they have begun competing to secure future growth engines despite institutional risks such as the Basic Digital Asset Act.

The New York Times reported in an investigative story that Bitcoin creator Satoshi Nakamoto (Satoshi Nakamoto) could be British cryptographer and Blockstream CEO Adam Back (Adam Back). Adam Back himself strongly denied it.