Here’s what happened in crypto today

Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, Web3 and crypto regulation.

Today in crypto, a UK parliamentary group opened an inquiry into banking barriers facing crypto firms, White House adviser Patrick Witt deferred military training to help steer the CLARITY Act through the Senate and AI infrastructure deals fueled a rally in Bitcoin mining stocks.

A United Kingdom parliamentary group has launched an inquiry into whether crypto businesses and consumers face barriers to banking services , including account access and restrictions on crypto-related transactions.

On Monday, the Crypto and Digital Assets All-Party Parliamentary Group (APPG) said that it would examine how the restrictions affect investment, competition and economic growth. The group said it would assess whether the restrictions are proportionate.

Written submissions from banks, payment providers, crypto firms and other stakeholders are open until Aug. 31, after which the group plans to publish its findings and recommendations.

A January survey by the UK Cryptoasset Business Council (UKCBC) found that 10 crypto exchanges said banks blocked or delayed 40% of transactions to crypto platforms. According to the survey, 70% of respondents said the restrictions had reduced their willingness to invest, expand or hire in the UK.

The White House’s top crypto adviser Patrick Witt said he will no longer take a leave of absence at the end of the month for military training, allowing him to remain at the White House to help advance the CLARITY Act in the Senate.

“Last week, it was reported that I was set to leave for mandatory training as part of my service in the Georgia Army National Guard, right before Clarity hits the Senate floor,” Witt said in an X post on Monday.

“While I remain committed to fulfilling my service obligation, I am grateful to report that my training has been deferred, and that I will be able to see this effort through to the end,” he added.

The CLARITY Act, which would create the first comprehensive US regulatory framework for the crypto market, faces a make-or-break deadline to pass the Senate before the Aug. 8 recess. Witt is the White House’s lead negotiator on the legislation.

Bitcoin mining stocks rallied Monday after Hut 8 and IREN unveiled multibillion-dollar AI infrastructure agreements , highlighting the industry’s accelerating shift beyond crypto mining into artificial intelligence and cloud computing.

Shares of IREN, Cipher Digital, CleanSpark, Hut 8 and MARA Holdings each climbed at least 9% after Hut 8 announced a 15-year, $9.8 billion lease for its AI data center campus and IREN revealed $2.8 billion in AI cloud services contracts. IREN also said it expects its AI cloud business to generate more than $4 billion in annual recurring revenue by the end of 2026.

The gains extended across the sector, with The Energy Mag’s AI Infrastructure Growth Index rising 1.4% on the day and more than 12% over the past week, alongside a broader recovery in technology stocks.

The rally underscores growing investor confidence that Bitcoin miners can diversify revenue streams through AI infrastructure, even as mining economics remain under pressure. However, analysts at Blocksbridge Consulting have cautioned that the transition will require significant capital, estimating the sector still needs about $50 billion to fund its AI ambitions. The firm also noted that insider stock sales at several miners have drawn increased scrutiny despite being conducted under prearranged trading plans.