Policy
US regulation and law: Congress, the SEC, the CFTC, Treasury, the banking agencies and the states.
- CFTCCFTC chair: write the rules first, enforce second
CFTC Chairman Michael Selig has given the clearest account so far of how crypto will be regulated without a new law from Congress. Speaking at Fordham Law's Blockchain Regulatory Symposium in New…
BankingRain applies for a national trust bank charterAnother crypto company wants a federal bank charter. Stablecoin infrastructure firm Rain has applied to the Office of the Comptroller of the Currency to set up Rain National Trust Bank, PYMNTS…
- CFTCCFTC opens its own crypto rulebook, starting with leveraged retail trading
The Commodity Futures Trading Commission has started building a federal framework for leveraged crypto trading, using the law it already has. On October 5 it asked for public comment on two planned…
- TreasuryFinCEN drops proposed rules on unhosted wallets and mixers
Two of the most contested crypto proposals of recent years are off the table. Treasury's Financial Crimes Enforcement Network has withdrawn both, Crypto Briefing reported October 5.
ElectionsFairshake backs 32 House incumbents, starting with $6 millionThe crypto industry's main political committee has named the lawmakers it wants back in Washington. Fairshake endorsed 32 House incumbents, 19 Republicans and 13 Democrats, Cointelegraph reported…
SECSEC approves listing rule for the first 3x bitcoin and ether fundsTriple-leveraged bitcoin and ether funds are a step closer to US brokerage accounts. On October 2 the SEC approved a rule change at the Cboe BZX exchange that clears six leveraged exchange-traded…
BankingCommunity banks sue the OCC over crypto trust chartersThe banking industry has taken its fight over crypto charters to court. The Independent Community Bankers of America sued the Office of the Comptroller of the Currency in federal court, CoinDesk…
- SECSEC proposes custody rules for advisers and funds holding crypto
The SEC has proposed rewriting its custody rules so that investment advisers and funds can hold crypto without stepping outside them. The proposal, issued October 1, updates the rules under the…
StatesNew York and Wyoming agree to coordinate crypto supervisionTwo of the best-known state crypto regulators have agreed to work together. New York's Department of Financial Services and the Wyoming Division of Banking signed a memorandum of understanding on…
StablecoinsTreasury sets a $10 billion line for state-supervised stablecoin issuersTreasury has drawn the line that decides which stablecoin issuers can stay with a state regulator. An interim final rule published September 30 explains how states can have their stablecoin regimes…
- StatesIllinois drafts rules for a 0.2% digital asset tax
Illinois is moving ahead with a tax that charges crypto activity by value, and the draft rules now show how it would work. The state's Department of Revenue posted them on September 28, according to…
StatesCalifornia bars public officials from launching meme coinsCalifornia will bar public officials from launching or promoting meme coins. Governor Gavin Newsom signed the bill on September 27, according to a summary by the law firm Lowenstein Sandler.
- SECSEC staff FAQs address staking receipt tokens and buybacks
SEC staff have answered one of decentralized finance's longest-running questions, at least informally. In FAQs published September 25, the Division of Corporation Finance set out how it classifies…
CongressSenate vote on the CLARITY Act fails 49 to 50The Senate's attempt to pass a market structure law for crypto ended on September 15, when a motion to advance the Digital Asset Market Clarity Act failed 49 to 50. It needed 60 votes. The House had…