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CFTC Grants Exemption to Crypto Software Developers

<p class="text-left mb-4 ">The US Commodity Futures Trading Commission (CFTC) granted an exemption on Thursday to software companies building crypto trading tools. Under certain conditions, developers won't face enforcement action for not registering as introducing brokers.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">An extension of the Phantom decision</h2><p class="text-left mb-4 ">This follows the "no-action" letter the CFTC gave crypto wallet provider Phantom in March. Phantom was trying to add derivatives trading functionality to its software at the time. Thursday's decision took that same protection out of Phantom-only territory and opened it up to any developer whose software connects users to regulated derivatives markets. Developers who want to make use of it need to provide certain disclosures and put internal policies and procedures in place.</p><p class="text-left mb-4 ">A footnote in the announcement suggests the exemption might not stay limited to "crypto asset-related software." The scope could widen down the line.</p><p class="text-left mb-4 ">Solana Policy Institute General Counsel Patrick Wilson said the protection that used to apply only to Phantom has now become a framework other software providers can use too. Developers, he noted, now have more clarity on how to connect users to regulated derivatives markets without triggering introducing-broker status.</p><p class="text-left mb-4 ">Digital Chamber CEO Cody Carbone also welcomed the decision on X. In his view, it removes the ambiguity that had been discouraging software development in derivatives markets.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">SEC made a move the same day</h2><p class="text-left mb-4 ">The decision came just hours after the SEC <a href="https://jrkripto.com/tr/news/sec-clarity-act-cakilinca-devreye-girdi" target="_blank" rel="noreferrer" class="text-primary underline">announced </a>its "innovation exemption," which will pave the way for onchain trading of tokenized stocks. After the Senate fell short on a preliminary vote for the Clarity Act last week, both the SEC and CFTC said they'd move forward with their own agendas. The Clarity Act would have been the first law to comprehensively regulate the digital asset industry at the federal level.</p><p class="text-left mb-4 ">The industry wanted that bill because it offered a permanence regulators can't provide on their own.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">The permanence concern remains</h2><p class="text-left mb-4 ">A source in the crypto industry pointed out that no-action letters can be reversed by a future administration. According to the source, the expansion is good news, but the risk is still on the table. As more people adopt this framework, the source believes, the harder it becomes to walk it back.</p><p class="text-left mb-4 ">CFTC Chair Michael Selig floated the idea of turning the Phantom letter into a formal rule back in May, but that hasn't happened yet.</p>

17 Sep 2026

SEC Steps In After CLARITY Act Stalls: Five-Year Exemption for Tokenized Stocks

<p class="text-left mb-4 ">The U.S. Securities and Exchange Commission (SEC) announced a temporary, conditional exemption on September 17 allowing tokenized U.S. stocks to trade on <a href="https://jrkripto.com/tr/chains" target="_blank" rel="noopener noreferrer" class="text-primary underline">blockchain</a>-based platforms in a limited capacity. The Commission granted so-called "Tokenized Securities Venues" (TSVs) a temporary exemption from the "exchange" definition under the Securities Exchange Act, in exchange for these platforms trading tokenized versions of National Market System (NMS) stocks through permissioned automated market makers and liquidity pools.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">What the Innovation Exemption brings</h2><p class="text-left mb-4 ">The rule was announced under the name "Innovation Exemption." SEC Chairman Paul Atkins described the move as a step toward bringing U.S. capital markets into the digital age, saying the exemption offers a temporary solution while the Commission works on more permanent rules to facilitate onchain trading.</p><p class="text-left mb-4 ">The same order also grants a temporary exemption from the "dealer" definition to parties that supply liquidity with their own capital in AMM liquidity pools while engaging in activities that could count as dealing, such as quoting prices to customers or entering into committed capital agreements.</p><p class="text-left mb-4 ">The conditions are as follows:</p><ul class="list-disc list-inside my-4"><li>The number of symbols and trading volume of tokenized stocks listed will be limited</li><li>Tokenized stocks must give holders the exact same rights as traditional shareholders, including voting rights and dividends</li><li>Before a stock tokenized by a third party can be listed for trading on a platform, the underlying company must receive written notice and the right to object</li><li>Smart contracts must be auditable, public, and run on a permissionless ledger</li><li>If trading in the underlying stock is halted on its primary exchange, trading on the platform must be halted simultaneously</li><li>Platforms must publicly disclose information about their own operations and the trading activity of their affiliates</li></ul><p class="text-left mb-4 ">The exemptions will automatically expire after five years. During this period, the SEC plans to work on a permanent framework based on the public comments it collects.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">Timing</h2><p class="text-left mb-4 ">The decision came just two days after the CLARITY Act, a crypto market structure bill, stalled in the Senate. For an industry that didn't get what it was hoping for from Congress, the SEC's administrative move fills the gap, at least for now. Coinbase, Securitize, and Ondo Finance are reportedly shaping their product plans around this exemption.</p>

17 Sep 2026

What Does the U.S. Want to Change in Crypto Taxes? Bill Clears Committee

<p class="text-left mb-4 ">A new bill focused on crypto taxation has cleared an important stage in the U.S. House of Representatives. The House Ways and Means Committee approved the Digital Asset Tax Certainty Act by a 38–5 vote.</p><p class="text-left mb-4 ">Bill H.R. 10357 seeks to establish clearer tax rules for crypto transactions. It covers network fees, stablecoin sales, wash-sale rules, mining, staking and exchange reporting.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">Crypto tax bill passes by 38–5 vote</h2><p class="text-left mb-4 ">The committee considered the bill during a markup meeting on September 16, 2026. According to the <a href="https://waysandmeans.house.gov/event/markup-of-h-r-10357-h-r-10334-h-r-6130-h-r-5439-h-r-4093-h-r-10346-h-r-10356/" target="_blank" rel="noopener noreferrer" class="text-primary underline">official meeting record</a>, the session began at 10:00 a.m. ET.</p><p class="text-left mb-4 ">The meeting took place at 5:00 p.m. Türkiye time. The committee ordered H.R. 10357 favorably reported to the full House as amended.</p><p class="text-left mb-4 ">The <a href="https://waysandmeans.house.gov/2026/09/16/historic-digital-asset-tax-legislation-advances-to-keep-america-the-crypto-capital-of-the-world/" target="_blank" rel="noopener noreferrer" class="text-primary underline">official Ways and Means statement</a> announced 38 votes in favor and five against. The committee also said lawmakers prepared the bill through bipartisan discussions.</p><p class="text-left mb-4 ">The vote does not immediately change U.S. tax rules. The bill must first pass the full House.</p><p class="text-left mb-4 ">The Senate must then approve the same text. The president would also need to sign the bill into law.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">Proposed exemption for network fees under $10</h2><p class="text-left mb-4 ">One of the bill’s most notable provisions concerns small network and transaction fees. Under the current system, even very small digital asset transactions can create separate reporting requirements.</p><p class="text-left mb-4 ">The committee said the IRS received hundreds of millions of 1099-DA forms in 2025. Many of those forms involved transactions worth less than $10.</p><p class="text-left mb-4 ">According to the <a href="https://waysandmeans.house.gov/wp-content/uploads/2026/09/H.R.-10357-Digital-Assets-Tax-Certainty-Act-One-Pager.pdf" target="_blank" rel="noopener noreferrer" class="text-primary underline">bill’s fact sheet</a>, the proposal covers three areas:</p><ul class="list-disc list-inside my-4"><li>Gains or losses from sales of regulated U.S. dollar <a href="https://jrkripto.com/tr/category/stablecoins" target="_blank" rel="noreferrer" class="text-primary underline">stablecoins</a>.</li><li>Gains or losses from using digital assets to pay network and transaction fees under $10.</li><li>An election for a simplified accounting method for digital assets.</li></ul><p class="text-left mb-4 ">The $10 threshold applies to specific fee payments. A crypto purchase under $10 would still require separate analysis under the proposal.</p><p class="text-left mb-4 "> <figure class="my-6"> <img src="https://minio-api-1.jrkripto.com/blog/ekran-g-r-nt-s-2026-09-17-133429-383b6d00.webp" alt="Ekran görüntüsü 2026-09-17 133429.png" width="auto" height="auto" class="w-full rounded-lg border" /> </figure> </p><p class="text-left mb-4 ">The fact sheet ties the exemption to digital assets used for network and transaction fees. It concerns gains or losses arising from that use.</p><p class="text-left mb-4 ">The stablecoin provision also has a limited scope. It refers to sales of regulated U.S. dollar stablecoins.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">Wash-sale rule would apply to digital assets</h2><p class="text-left mb-4 ">The proposal would extend existing anti-abuse rules to digital assets. These rules include wash-sale and constructive-sale provisions.</p><p class="text-left mb-4 ">The wash-sale rule limits tax-loss strategies involving a sale at a loss and a quick repurchase. If adopted, the rule could require more detailed tracking of crypto transactions.</p><p class="text-left mb-4 ">Exchanges and users may need to match purchase and sale records more consistently. This could affect tax-loss harvesting strategies among crypto investors.</p><p class="text-left mb-4 ">The proposal also covers rules involving financial derivatives, U.S. territories and foreign corporations. The committee says these changes would bring digital assets closer to traditional financial instruments.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">Mining and staking rules would become clearer</h2><p class="text-left mb-4 ">H.R. 10357 would clarify the tax treatment of mining and staking rewards. The fact sheet says the bill would establish sourcing and characterization rules for these rewards.</p><p class="text-left mb-4 ">This section affects miners, validators, staking platforms and individual users. Clearer rules could make reward reporting more predictable.</p><p class="text-left mb-4 ">The bill also aims to make it easier for exchange-traded investment products to participate in staking. It seeks to protect their tax status while they engage in staking activities.</p><p class="text-left mb-4 ">The fact sheet does not explain every detail about tax rates or payment timing. The final scope would depend on the bill’s text and later regulations.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">Exchange reporting burden could decline</h2><p class="text-left mb-4 ">One section of the bill would clarify digital asset broker reporting duties. The committee says the current system creates a large number of unnecessary tax forms.</p><p class="text-left mb-4 ">The proposed framework seeks to streamline broker reporting and reduce compliance costs. This could affect platforms with high transaction volumes.</p><p class="text-left mb-4 ">The bill would also direct the Treasury Department to create a voluntary disclosure program for digital assets. The program could offer reduced penalties to eligible taxpayers who report past mistakes.</p><p class="text-left mb-4 ">The mechanism targets users who failed to comply because of uncertainty or high costs. Eligible taxpayers could gain a route for correcting earlier reporting problems.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">Digital assets would move closer to traditional finance</h2><p class="text-left mb-4 ">H.R. 10357 would place digital assets closer to traditional financial instruments under the tax code. The bill would make digital assets eligible for two existing tax safe harbors.</p><p class="text-left mb-4 ">One safe harbor would make it easier for foreign persons to invest in U.S. markets. The other would allow taxpayers to lend digital assets without triggering an immediate taxable event.</p><p class="text-left mb-4 ">The proposal would also let digital asset dealers and traders use mark-to-market accounting. This method is already available for securities and commodities.</p><p class="text-left mb-4 ">Common digital assets donated to charities would receive rules similar to publicly traded securities. This could matter to traders and users planning charitable donations.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">The bill is separate from the CLARITY Act</h2><p class="text-left mb-4 ">H.R. 10357 is a separate bill from the CLARITY Act. It focuses directly on federal tax rules for cryptocurrencies and other digital assets.</p><p class="text-left mb-4 ">The CLARITY Act vote that failed to advance in the Senate on Tuesday did not concern H.R. 10357. The two processes involve different texts and different legislative stages.</p><p class="text-left mb-4 ">The committee’s 38–5 vote therefore does not represent another CLARITY Act vote. The crypto tax bill now awaits the next stage in the House.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">The legislative process will continue</h2><p class="text-left mb-4 ">The committee’s favorable report opens the path to a full House vote. The committee statement did not provide a date for that vote.</p><p class="text-left mb-4 ">If enacted, the bill could change tax processes for U.S. investors and crypto platforms. Existing rules will remain in effect until new provisions take effect.</p><p class="text-left mb-4 ">The committee vote shows crypto taxation moving forward as a separate legislative issue. The bill’s practical impact will become clearer as the House process and effective dates emerge.</p>

17 Sep 2026

Fed Rate Decision Looms: Three Scenarios for Bitcoin and the Crypto Market

<p class="text-left mb-4 ">The crypto market is focused on the Fed rate decision due Wednesday, September 16. Investors expect the U.S. central bank to raise interest rates for the first time in nearly three years. The direction of Bitcoin and altcoins will also depend on what the Fed says about the months ahead.</p><p class="text-left mb-4 ">At its July meeting, the Fed kept its policy rate at 3.50%–3.75%. Nine members supported the decision, while three favored a 25-basis-point increase. Expectations of a rate hike have strengthened ahead of the September meeting.</p><p class="text-left mb-4 ">CME FedWatch data, based on futures prices, shows that markets view a 25-basis-point increase as the most likely outcome. Such a move would lift the policy rate to 3.75%–4.00%. These probabilities can change during trading, so the latest pricing should be checked before the decision.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">Why does the Fed rate decision matter for crypto?</h2><p class="text-left mb-4 ">U.S. consumer prices rose 3.4% year over year in August, with a monthly increase of 0.4%. <a href="https://www.bls.gov/news.release/cpi.nr0.htm" target="_blank" rel="noopener noreferrer" class="text-primary underline">Data from the U.S. Bureau of Labor Statistics</a> shows that inflation remains above the Fed’s 2% target.</p><p class="text-left mb-4 ">Higher interest rates can encourage investors to favor assets that offer yields and carry relatively lower risk. This could limit the capital flowing into Bitcoin, which does not generate interest income. Rising Treasury yields and a stronger dollar could also weigh on risk appetite across the crypto market.</p><p class="text-left mb-4 ">Still, an expected rate hike does not necessarily mean prices will fall. Markets may have already priced in much of a 25-basis-point increase. Investors would then turn their attention to whether the Fed plans further hikes.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">What are the scenarios for Bitcoin and altcoins?</h2><p class="text-left mb-4 ">If the Fed raises rates by 25 basis points but takes a cautious approach to future moves, the initial crypto market reaction could be volatile. The widely expected hike would carry less surprise. Fed Chair Kevin Warsh’s remarks at the press conference could then set the direction.</p><p class="text-left mb-4 ">If the Fed signals further tightening to combat inflation, risk assets could come under pressure. Such a message could support Treasury yields and the dollar. Altcoins may move more sharply because they are sensitive to liquidity and investors’ willingness to take risks.</p><p class="text-left mb-4 ">Keeping rates unchanged could initially support crypto assets. However, any gains might fade if the Fed describes the decision as a temporary pause. A larger-than-expected rate hike would be a more pronounced negative surprise for the market.</p><p class="text-left mb-4 ">According to the official schedule, the decision will be announced at 9:00 p.m. Turkish time. Warsh’s press conference will begin at 9:30 p.m. The Fed will also publish updated economic projections. The projected path for interest rates could matter as much as the decision itself for Bitcoin and altcoins.</p><p class="text-left mb-4 ">At the time of writing, <a href="https://jrkripto.com/tr/coin/btc" target="_blank" rel="noopener noreferrer" class="text-primary underline">Bitcoin</a> is trading around $76,000.</p><p class="text-left mb-4 "> <figure class="my-6"> <img src="https://minio-api-1.jrkripto.com/blog/btcusdt-2026-09-16-15-50-11-4e36a4cf.webp" alt="BTCUSDT_2026-09-16_15-50-11.png" width="auto" height="auto" class="w-full rounded-lg border" /> </figure> </p>

16 Sep 2026

Bitcoin ETF Flows Reverse: $450 Million Leaves Funds in One Day

<p class="text-left mb-4 ">U.S. spot <a href="https://jrkripto.com/tr/bitcoin-etfs" target="_blank" rel="noopener noreferrer" class="text-primary underline">Bitcoin ETFs</a> recorded $450.4 million in net outflows on Tuesday, September 15. The funds had attracted $159.9 million in the previous trading session. That marked a $610.3 million swing in daily flows.</p><p class="text-left mb-4 ">The figures, published on September 16, cover the most recent completed trading session. Farside Investors has not yet reported results for the September 16 session.</p><p class="text-left mb-4 ">Fidelity’s FBTC accounted for the largest share of the outflows, losing $214.8 million. BlackRock’s IBIT followed with $161.7 million in outflows. Together, the two funds lost $376.5 million, or about 84% of the day’s net outflows.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">Five Bitcoin ETFs Recorded Outflows</h2><p class="text-left mb-4 ">According to Farside, Grayscale’s GBTC recorded $44.1 million in net outflows. Another $17.4 million left Ark and 21Shares’ ARKB, while Bitwise’s BITB lost $12.4 million. The other seven funds in the dataset ended the day with zero net flows.</p><p class="text-left mb-4 ">Monday’s figures told a different story. BlackRock’s IBIT attracted $134.3 million, and Fidelity’s FBTC took in $53.3 million. Spot Bitcoin ETFs finished that session with net inflows despite a $42 million outflow from ARKB. On Tuesday, flows at both IBIT and FBTC reversed, pulling the overall total into negative territory.</p><p class="text-left mb-4 ">Recent data shows how sharply ETF flows have shifted. The funds recorded net outflows on each of the four trading days from September 8 through September 11. Monday’s $159.9 million inflow ended that streak, but Tuesday’s $450.4 million outflow more than erased it.</p><p class="text-left mb-4 ">ETF flow figures show the daily net amount of money entering or leaving the funds. On their own, they do not reveal every investor’s Bitcoin position or explain why Bitcoin’s price moves. They do, however, offer a measure of demand for Bitcoin exposure through U.S. exchange-traded funds.</p><p class="text-left mb-4 "> <figure class="my-6"> <img src="https://minio-api-1.jrkripto.com/blog/btcusdt-2026-09-16-15-36-13-feb9a95a.webp" alt="BTCUSDT_2026-09-16_15-36-13.png" width="auto" height="auto" class="w-full rounded-lg border" /> </figure> </p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">New Flow Data in Focus Ahead of Fed Decision</h2><p class="text-left mb-4 ">The reversal came as markets awaited the Federal Reserve’s interest rate decision. According to the <a href="https://www.federalreserve.gov/monetarypolicy/fomccalendars.htm" target="_blank" rel="noopener noreferrer" class="text-primary underline">Fed’s calendar</a>, its monetary policy meeting runs from September 15 to September 16. Investors will also watch the economic projections released alongside the decision.</p><p class="text-left mb-4 ">The completed September 16 ETF data will offer a clearer indication of whether demand recovered after Tuesday’s outflows. Figures reported before the U.S. session ends should not be treated as final daily net flows.</p>

16 Sep 2026

Regulation

CFTC Grants Exemption to Crypto Software Developersabout 14 hours ago

Regulation

SEC Steps In After CLARITY Act Stalls: Five-Year Exemption for Tokenized Stocksabout 15 hours ago

Regulation

What Does the U.S. Want to Change in Crypto Taxes? Bill Clears Committeeabout 22 hours ago

Politics, BTC, Altcoin

Fed Rate Decision Looms: Three Scenarios for Bitcoin and the Crypto Market2 days ago

BTC

Bitcoin ETF Flows Reverse: $450 Million Leaves Funds in One Day2 days ago

Regulation

CFTC Grants Exemption to Crypto Software Developersabout 14 hours ago

Regulation

SEC Steps In After CLARITY Act Stalls: Five-Year Exemption for Tokenized Stocksabout 15 hours ago

Regulation

What Does the U.S. Want to Change in Crypto Taxes? Bill Clears Committeeabout 22 hours ago

Politics, BTC, Altcoin

Fed Rate Decision Looms: Three Scenarios for Bitcoin and the Crypto Market2 days ago

BTC

Bitcoin ETF Flows Reverse: $450 Million Leaves Funds in One Day2 days ago

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