Global Cryptocurrency News: Shenzhen Cracks Down, Swiss Bank Launches BTC Services

US President Donald Trump has ordered a halt to military strikes on Iran, amidst ongoing negotiations between Oman and Iran. Meanwhile, in Shenzhen, China, multiple departments have shut down several virtual currency promotions and trading groups for violating regulations.

The shutdowns include the 'USDT Merchant Exchange Group', which was found to be operating without proper authorization. This move is part of the city's efforts to crack down on illicit cryptocurrency activities.

In other news, the Kyrgyzstan Parliament has approved a bill that aims to establish a strategic Bitcoin reserve for the country. The bill now needs to be signed into law by the President.

Charles Schwab, a financial services company with over $13 trillion in managed assets, has urged the US Senate to pass the Crypto Clarity Act. This act would provide regulatory clarity for cryptocurrency businesses and investments.

BancaStato, a Swiss bank with total assets of $23 billion, has launched Bitcoin trading services for its clients.

PlanB, a well-known Bitcoin analyst, has spoken out against the proposed BIP-110 update to the Bitcoin protocol. According to PlanB, only about 1% of miners support the proposal, which is far below the required 55% approval threshold.