Key Highlights The U.S. Department of the Treasury and FinCEN have officially withdrawn a controversial December 2020 regulatory proposal targeting self-hosted cryptocurrency wallets. The agency also withdrew a separate proposal that sought stricter reporting and recordkeeping measures for crypto mixing transactions. The unhosted wallet rule, which was left pending for nearly six years, would have ...
Key Highlights: Securities and Exchange Commission Chairman Paul S. Atkins signaled upcoming regulatory proposals aimed at preventing onchain markets from being driven offshore. The SEC’s planned custody overhaul would permit self-custody under specific conditions, recognize state trust companies as custodians, and address broker-dealer safekeeping services. Complementary customer-protection proposals outline proof-of-reserves verifications, asset segregation, and a ...
Key Highlights The proposed regulatory plan introduces two primary components: Regulation Crypto Asset Transactions (CTX) and Regulation Crypto Asset Markets (CAM), targeting retail leveraged and financed trading. Unlike sweeping legislative efforts, ordinary spot trading remains under state-level oversight, while platforms opting into the federal regime gain a standardized CFTC pathway for margin trading. The Commodity ...
Key Highlights: The Commodity Futures Trading Commission (CFTC) has unveiled two regulatory frameworks: Regulation Crypto Asset Transactions (Regulation CTX) and Regulation Crypto Asset Markets (Regulation CAM). Regulation CAM introduces an optional federal licensing framework for crypto exchanges under the Designated Contracts Management (DCM) system, offering a way to bypass state-by-state regulatory regimes and provide retail ...
Key Highlights: The CFTC is utilizing Section 2(c)(2)(D) of the Commodity Exchange Act to create a tailored federal framework that offers crypto exchanges regulated access to retail leverage. Platforms opting into the regime must adopt strict compliance standards inspired by FTX’s collapse, including proof of reserves, customer fund segregation, and intermediation via futures commission merchants. ...
Key Highlights The Commodity Futures Trading Commission (CFTC) announced an advance notice of proposed rulemaking introducing Regulation Crypto Asset Transactions (Regulation CTX) and Regulation Crypto Asset Markets (Regulation CAM). The framework aims to establish uniform federal oversight for crypto asset exchanges under existing statutory authorities rather than relying on regulation by enforcement. A statutory gap ...
Key Highlights: Illinois and industry challengers have submitted a joint filing seeking to delay collection of the state’s 0.2% Digital Asset Tax by six months, though the court had not confirmed entry of the order as of Oct. 4. The underlying statute remains in force without concessions of unconstitutionality, but the proposed pause would defer ...
Key Highlights: U.S. authorities and lawmakers intensified crypto enforcement, with the Treasury targeting the Russia-linked A7 Network and a Senate subcommittee scrutinizing Tether’s sanctions controls. In Europe, ESMA recommended broadening the Markets in Crypto-Assets (MiCA) framework to regulate DeFi intermediaries, technical interfaces, and staking activities. The UK Financial Conduct Authority (FCA) officially opened its authorization ...
Key Highlights The SEC is advancing a comprehensive digital asset framework, building on major reforms initiated after former Chair Gary Gensler’s departure in 2025. Key regulatory initiatives include a crypto custody framework, Regulation Crypto Assets, and a 5-year Innovation Exemption sandbox for decentralized trading. While SEC leadership aims to make the U.S. the global crypto ...
Key Highlights The crypto industry failed to secure Senate passage of the Clarity Act, but the legislation advanced farther than any previous crypto bill. Industry advocates say bipartisan agreements reached during the Clarity negotiations could support a future legislative effort. Crypto lobbying is continuing as the SEC and CFTC develop new policy and regulatory proposals. ...
Key Highlights The SEC’s Division of Corporation Finance issued new FAQs Thursday clarifying how token buybacks, liquid staking receipts, and ongoing blockchain development are analyzed under the Howey test and federal securities laws. Staff stated that for a functional crypto network, announcing a buyback of a non-security token does not by itself constitute a promise ...
Key Highlights The failure to pass the Clarity Act leaves U.S. crypto regulation to be shaped by agencies rather than Congress, with the SEC and CFTC moving forward on separate rulemaking tracks. The SEC issued a temporary conditional exemption allowing eligible venues to trade tokenized U.S. stocks via permissioned liquidity pools on public blockchains. The ...