SEC Faces CLARITY Act Challenge
New York AG Letitia James and 17 state AGs oppose the Digital Asset Market Clarity Act, fearing it limits state-level crypto fraud prosecutions. #Breaking #Legal @NewYorkStateAG
Regulation
AI Regulation Backfires Dramatically on Big Tech
Senator Bernie Sanders proposes a 50% public equity stake in major AI companies to fund a $7 trillion public pool, sparking regulatory debate. #Update #Legal
Canada Approves Tokenized Banking Deposits
Canada’s OSFI confirms tokenized deposits are legally equivalent to traditional ones, easing regulatory hurdles for banks and boosting digital adoption. #Update #Legal
Stablecoins Surge as Circle Invests $400M
@Circle plans to acquire Tazapay for $400 million in stock to enhance its cross-border payment capabilities, leveraging Tazapay’s connections with over 60 banking partners across 100 markets. #Update #Crypto $USDC
Tether Controls T-Bills Despite 650 Million Decentralized Debt
@PaoloArdoino claims Tether’s 650 million users decentralize U.S. debt ownership, but Tether controls the Treasury bills, limiting direct user benefits. $USDT #Update #Crypto $USDT
Cardano Achieves 6x Scaling Breakthrough
@InputOutput’s Cardano upgrade Leios achieved 26.8 TxkB/s throughput, sixfold increase over Ouroboros Praos, but economic viability relies on user transactions for staking rewards as reserve declines. #Update #Crypto $ADA
Philippines Central Bank Freezes Payment Licenses
Bangko Sentral ng Pilipinas considers a temporary freeze on new Operator of Payment Systems licenses to enhance compliance standards; existing operators remain unaffected. #Update #Legal
Bitcoin: DOJ Cracks $4M Cartel Scheme
Carlos Érick Vázquez González pleads guilty to laundering $4M via crypto for Mexican cartels, facing up to 20 years in prison. DOJ’s crackdown on crypto cartels intensifies. #Breaking #Legal
Bitcoin Bill Veto Stands in Poland
Poland’s parliament fails to override President Nawrocki’s veto on the Crypto-Asset Market Act amid Zondacrypto scandal, forcing local firms to register abroad. #Breaking #Legal
XRP Futures Yield Gap Hits 14%
@BitwiseInvestments reveals a 14.57% annualized yield in an institutional XRP carry trade, utilizing 10.78M XRP against short positions in Coinbase futures, highlighting demand for $XRP. #Update #Crypto $XRP
Hungary Abolishes Casino Regulator Amid Controversy
Hungary plans to abolish SZTFH after extending Sopron casino concession to 2061 without a tender, citing political entanglement concerns. Justice Minister Márta Görög to report by Sept. 30. #Update #Legal
ECB Advances Digital Euro Preparation Phase
The European Central Bank’s report on the digital euro preparation phase highlights offline functionality, privacy mechanisms, and holding limits but lacks final issuance approval. #Update #Crypto
XRP Rally Pressures 115 Million Token Short
Leveraged funds doubled their CME XRP net short to 2,314 contracts, totaling 115.7 million XRP, while dealers and asset managers increased net longs amid rising open interest. #Update #Crypto $XRP
SEC Sets Tokenized Collateral Standards
The CFTC issued guidance for derivatives clearing organizations on handling tokenized collateral, focusing on risk controls for tokenized U.S. Treasuries as margin. #Update #Legal