Regulation
This page lists the latest Regulation news and market analysis. Browse articles, expert insights, and updates in this category on JrKripto. Stay informed with in-depth coverage of cryptocurrency trends and developments.
News
Regulation News
Regulation News
Browse all Regulation related articles and news. The latest news, analysis, and insights on Regulation.
September Starts Fast for Crypto Regulation
The crypto market entered September with new regulations and key deadlines. Russia introduced a crypto purchase limit for retail investors, while Pakistan gave companies operating in the country a final deadline to apply.Singapore is also working on new rules for the stablecoin market. In the UK, applications for licenses under the new crypto regime will open at the end of this month.Russia introduces annual limit on crypto purchasesRussia’s Federal Law 282-FZ, which regulates the crypto market, came into force on September 1. The new system allows retail investors to buy cryptocurrencies through licensed intermediaries.However, investors must first pass an eligibility test. They can then purchase up to 300,000 rubles, around $3,500, worth of crypto per year through a single intermediary.The use of cryptocurrencies as a means of payment within Russia remains prohibited. Crypto exchanges have until July 2027 to complete their registration processes.Pakistan gives crypto firms until September 5In Pakistan, the focus is directly on crypto companies. Under the Virtual Assets Act, which came into force in March, platforms already operating in the country were given six months to submit an application.That deadline expires on September 5. Companies that fail to apply will be required to stop providing services in Pakistan.The country’s regulatory approach has changed significantly in recent months. In April, the State Bank of Pakistan allowed licensed crypto companies to open bank accounts. This removed one of the restrictions that had been in place since 2018.Singapore opens stablecoin rules for consultationThe Monetary Authority of Singapore (MAS) has published a new regulatory proposal for the stablecoin market. The framework would tighten reserve and redemption requirements for stablecoin issuers.Under the proposal, issuers would be required to fully back their stablecoins with reserves and allow users to redeem tokens at par value. Stablecoin holders would also not be allowed to earn interest.MAS will accept feedback on the proposal until October 16. The rules have not yet entered into force.UK applications to open on September 30The UK is also preparing to enter an important phase of its regulatory process at the end of September. Under the Financial Conduct Authority’s new crypto regime, companies will be able to apply for authorization starting September 30.The application window will remain open until February 28, 2027. The new crypto regulatory regime is expected to become fully effective on October 25, 2027.September has therefore started with new rules and regulatory deadlines affecting crypto companies and investors across several major markets.
Chairman of Turkey-Based Crypto Exchange Bitexen Arrested
Kemal Cenk Erdem, Chairman of the Board and a shareholder of Bitexen, was arrested as part of the DinamikPay investigation. The case, led by the Istanbul Chief Public Prosecutor’s Office, focuses on allegations involving the transfer of illegal betting proceeds and the laundering of assets derived from crime.The arrest decision also referred to certain financial transactions linked to DinamikPay and Bitexen. However, currently available information does not indicate that Bitexen itself has been seized or that customer accounts on the platform have been broadly frozen.Erdem denied the allegations against him. The arrest was ordered as part of an ongoing investigation, and there is no final conviction against him.Bitexen connection in the DinamikPay investigationThe Istanbul Chief Public Prosecutor’s Office is investigating DinamikPay Elektronik Para ve Ödeme Hizmetleri AŞ over allegations related to illegal betting and money laundering.As part of the investigation, authorities reviewed reports from MASAK as well as findings from the Central Bank of the Republic of Türkiye and TÖDEB. DinamikPay was found to have processed approximately 17.9 billion lira in money transfers during 2024 and 2025.This figure does not represent Bitexen’s cryptocurrency trading volume. The 17.9 billion lira amount refers to the money transfers examined at DinamikPay, which is at the center of the investigation.A total of 13 suspects were detained in the initial operation. Authorities also seized 8 vehicles, 33 residences and 50 plots of land believed to be linked to criminal proceeds, while restrictions were imposed on 126 bank and cryptocurrency accounts.DinamikPay itself was also seized under a decision issued by an Istanbul Criminal Judgeship of Peace.What did the arrest decision say about Kemal Cenk Erdem?Kemal Cenk Erdem was detained at a later stage of the investigation and referred to a criminal judgeship of peace with a request for his arrest following his statement to prosecutors. The court subsequently ordered his arrest.The decision stated that Erdem was not listed in the trade registry as a direct shareholder, board member or authorized representative of DinamikPay. However, it also noted that he is married to Ayşin Erdem, the company’s founder and long-time controlling shareholder.According to the court’s assessment, financial transactions linked to Bitexen and Kemal Cenk Erdem were identified among the sources of capital used by DinamikPay and Dinamik Yatırım. Authorities also reported nearly 100 million lira in two-way financial transfers between Kemal Cenk Erdem and Ayşin Erdem.Statements included in the case file alleged that Erdem played an influential role in the financial decision-making process of the group of companies. The court concluded that financial records, corporate connections and witness statements provided grounds for the investigation to be expanded.Erdem denied the allegations in his defense before the court. He argued that there had been no commercial activity between Bitexen and DinamikPay in which he was involved.What does this mean for Bitexen users?For Bitexen users, the most significant aspect of the investigation is that financial transactions linked to the company and Erdem have entered the case file. However, it is important to distinguish between the measures publicly announced so far and Bitexen’s own operations.Official sources clearly confirm that DinamikPay was seized. However, currently available statements do not indicate that Bitexen itself has been seized, that the platform’s operations have been suspended or that all customer assets held at Bitexen have been frozen.The next stages of the investigation will therefore be closely watched by cryptocurrency investors. Bitexen’s deposit and withdrawal operations, any potential measures involving customer assets and possible actions by regulators are among the key issues to monitor.Bitexen remains on the CMB listBitexen Kripto Varlık Alım Satım Platformu AŞ remained on the Capital Markets Board of Türkiye’s “List of Operating Companies” as of September 1. The company ranked sixth on the list.However, the CMB explicitly states that inclusion on this list does not constitute a final operating license. The list is maintained to publicly identify companies that have declared their intention to operate as crypto asset service providers.The investigation remains ongoing with regard to other suspects and corporate connections. Any new judicial or regulatory decision involving Bitexen could further increase the significance of the case for Türkiye’s cryptocurrency market.
UK Moves on Stablecoins: BoE Gets New Role
The UK government plans to expand the Bank of England’s remit. The BoE will take on a new responsibility supporting stablecoin and digital payments innovation.The government has defined this responsibility as a “secondary objective.” Financial stability will remain the central bank’s primary objective.The new objective will cover digital payment infrastructure, including systems that use stablecoins. The BoE will also report its progress to the UK Parliament each year.However, the change has yet to take effect. The government will add the necessary amendments to the Financial Services and Markets Bill.BoE will support digital payments innovationHM Treasury announced the new objective on August 27. The announcement highlighted stablecoins, tokenisation and distributed ledger technology.The Treasury wants payments regulation to keep pace with technological developments. The new statutory objective will require the BoE to support innovation safely.City Minister Lucy Rigby said tokenisation and distributed ledger technology could transform global financial markets. Rigby added that the UK wants to maintain its position in financial services.BoE Deputy Governor Sarah Breeden welcomed the government’s decision. Breeden said the objective would support the central bank’s work on payments technology.Financial stability will continue to take priority. The BoE will not have to support projects that pose unacceptable risks.The central bank will report annually on its work under the new objective. Parliament will therefore be able to monitor regulatory progress and payments innovation.Stablecoin systems will fall under the new objectiveThe BoE already has a similar objective for certain financial market infrastructures. The Financial Services and Markets Act 2023 introduced this responsibility.The existing objective covers central counterparties and central securities depositories. The government will now extend the same approach to systemic payment systems.Payment systems using digital settlement assets will also fall within its scope. The official announcement specifically identified stablecoin systems as an example.The BoE will oversee stablecoin structures considered important to the financial system. The Financial Conduct Authority will remain responsible for non-systemic crypto and stablecoin activities.HM Treasury will decide whether a payment system has systemic importance. Its assessment will consider factors such as financial stability and market confidence.UK prepares its stablecoin rulesThe new objective comes as the BoE develops its stablecoin regulations. The central bank published draft rules for systemic stablecoins in June.Under the BoE proposal, issuers could hold up to 70% of their reserves in interest-bearing assets. This portion would consist solely of short-term UK government debt.Issuers would hold the remaining reserves in central bank accounts. The BoE said this structure would help them meet redemption requests.The central bank also dropped its proposed temporary limits on individual stablecoin holdings. It instead proposed a temporary £40 billion issuance cap for each systemic stablecoin.The BoE could remove this cap once risks to credit provision have eased. The central bank will accept feedback on the draft until September 22.The BoE plans to publish its final rules by the end of 2026. Regulated stablecoins could begin operating in the UK in 2027.The government will implement the new innovation objective through amendments to the Financial Services and Markets Bill. The House of Lords will debate the bill on September 7 and 9.
SEC Sends Crypto Custody Rule Changes to White House for Review
The U.S. Securities and Exchange Commission is preparing to revise its crypto custody rules. The SEC has sent its regulatory proposal to a White House review office.The proposal aims to make it easier for investment advisers to hold crypto assets on behalf of clients. The SEC also plans to clarify the custody requirements that investment companies must follow.However, the White House review does not mean the regulation has been approved. The proposal has yet to be released publicly and has not become a final rule.SEC plans to modernize crypto custody rulesThe Office of Information and Regulatory Affairs, which operates under the Office of Management and Budget, received the proposal on Aug. 25. OIRA reviews significant federal regulations before publication.In OIRA records, the proposal appears under the title “Amendments to the Custody Rules.” It is being tracked under RIN 3235-AN46. The records classify the proposal as “economically significant.” However, the regulation has no statutory deadline.The SEC said it had received numerous questions from investment advisers about the existing rules. These questions focus on the conditions under which advisers may hold clients’ crypto assets.According to the agency’s regulatory agenda, the current system does not adequately address the characteristics of digital assets. The SEC therefore wants to adapt the custody framework to the crypto market.The regulation will cover investment companies as well as investment advisers. However, the SEC has not yet published the proposal’s detailed text.It therefore remains unclear how the definition of a qualified custodian might change. Requirements for self-custody and on-chain transactions also remain uncertain.What does the White House review mean?OIRA operates within the White House Office of Management and Budget. The office evaluates the economic and administrative impact of significant federal regulations.During the review, OIRA may ask the SEC to make changes. It may also assess the proposal with other federal agencies.Completing this process will not put the proposal into effect. The SEC may then release the regulation for public comment.Market participants will be able to submit feedback during the comment period. A final rule could emerge only after further review.The SEC’s official schedule anticipates publishing the proposal in October 2026. However, that date is not a binding deadline.Crypto regulation accelerates under Paul AtkinsSEC Chair Paul Atkins previously said the existing custody rules were not designed for crypto assets. In July 2025, Atkins said he had instructed staff to update the system.Over the past year, the SEC has pursued sweeping changes to digital asset regulation. The agency has issued new guidance on whether memecoins qualify as securities.It has also clarified which staking activities fall outside securities laws. The SEC has separately prepared a regulatory framework for crypto asset offerings.The proposal, called “Regulation Crypto Assets,” would provide companies with a tailored capital-raising framework. It aims to facilitate token offerings while maintaining investor protections.The market is also waiting for the innovation exemption announced by Atkins. The exemption could give tokenized securities projects greater regulatory flexibility.New rules could reshape the institutional crypto marketCustody rules determine which firms investment advisers may work with. Any changes could therefore directly affect institutional demand for crypto.Clearer rules could reduce legal uncertainty for funds and advisory firms. They could also make it easier to include tokenized assets in traditional investment products.However, looser custody standards could raise new security concerns. Private key protection and the segregation of client assets remain critical issues.The proposal’s actual impact will become clearer once the detailed text is published. The latest development indicates that it is moving closer to the public comment stage.
CFTC to Regulate Leveraged and Margined Crypto Transactions
The U.S. Commodity Futures Trading Commission has started preparing new rules for leveraged and margined crypto transactions. CFTC Chairman Michael Selig instructed agency staff to use their existing statutory authority to develop a framework governing the market structure.The new rules will cover products offered by CFTC-registered entities. They could also create a legal pathway for some crypto platforms that are not currently registered with the agency to offer leveraged transactions off-exchange.However, the CFTC has not granted these platforms blanket approval. Off-exchange transactions will need to meet the “actual delivery” conditions established by the agency.CFTC will move without waiting for CongressSelig made the announcement during the first meeting of the CFTC Innovation Advisory Committee on August 20. The meeting’s agenda included crypto asset regulation, artificial intelligence and prediction markets.The CFTC chairman said Congress must pass the CLARITY Act to establish comprehensive rules for the crypto market. However, the agency will not wait for the legislative process to conclude.Selig delivered a similar message at the White House one day earlier. He said the CFTC would use every available tool until lawmakers finalize the bill.This approach does not mean the agency will expand its authority over crypto without new legislation. Instead, the CFTC will prepare rules within the boundaries of its existing powers under the Commodity Exchange Act.How could unregistered crypto exchanges qualify?Leveraged, margined or financed commodity transactions offered to U.S. retail investors generally fall under CFTC rules. Many of these transactions must take place on registered markets because they qualify as futures transactions.The law includes an exemption known as “actual delivery.” When a transaction meets the conditions of this exemption, a platform may offer the product outside a CFTC-registered futures exchange.The CFTC will now draft rules explaining how the exemption applies to crypto assets. The framework could clarify when and how an asset must reach the customer, when the customer gains control over it and what role the platform can play in custody.The initiative does not mean every unregistered crypto exchange will be free to offer leverage in the United States. Platforms will need to structure their transactions in accordance with the actual delivery exemption and meet the safeguards established by the CFTC.Registered exchanges will face separate standardsSelig also asked staff to prepare rules for CFTC-registered designated contract markets. These entities, known as DCMs, can list futures and derivatives under the agency’s supervision.The CFTC will consolidate the requirements that existing DCMs must follow when offering leveraged or margined spot crypto transactions. According to Selig, this step will establish consistent protection and transparency standards across different platforms.The agency is also considering a new DCM registration category for leveraged crypto transactions aimed at retail investors. This could allow crypto platforms to apply for a registration model tailored to their activities instead of adopting every rule originally designed for traditional derivatives exchanges.Selig first introduced the plan in January as part of the Project Crypto framework. His latest instruction indicates that the agency has moved into the rule-drafting phase.New rules could reshape the U.S. crypto marketOnce completed, the regulations could provide crypto platforms operating in the United States with a clearer legal pathway for leveraged spot products. The CFTC argues that regulatory uncertainty has pushed much of this activity toward offshore platforms.The new framework could also introduce common standards covering customer asset protection, risk disclosures and market surveillance. Such rules are particularly important for retail investors because leverage can magnify both gains and losses.The CFTC has not yet disclosed the draft text, leverage limits or implementation schedule. The agency is expected to publish its proposal for public comment before completing the formal rulemaking process.
Trump’s Crypto Call to Congress: ‘Pass the CLARITY Act’
US President Donald Trump addressed Congress following the crypto summit at the White House. Trump called for the passage of a “fair version” of the CLARITY Act, which would create a legal framework for the digital asset market.According to Reuters, Trump told leading industry executives at the meeting that Congress must now take the next step. His direct political endorsement of the bill became the summit’s clearest outcome.Trump openly backs the CLARITY ActCoinbase CEO Brian Armstrong, Robinhood CEO Vlad Tenev and Kraken co-CEO Arjun Sethi attended the summit on August 19. Jeffrey Sprecher, CEO of Intercontinental Exchange, the parent company of the New York Stock Exchange, also spoke alongside Trump.SEC Chair Paul Atkins, CFTC Chair Mike Selig and White House crypto adviser Patrick Witt also attended. The lineup brought financial regulators, crypto executives and traditional finance leaders to the same table.During his remarks, Trump called for Congress to pass a “fair version” of the CLARITY Act. However, he did not explain what he meant by a fair version or specify which changes he wanted lawmakers to make to the current text.The White House also did not publish detailed meeting minutes or a new compromise proposal. For now, the summit’s outcome remains limited to a strong message of political support.What would the CLARITY Act change?The CLARITY Act aims to define when digital assets qualify as securities or commodities in the US. It would also establish clearer jurisdictional boundaries between the SEC and the CFTC.Under the current approach, the SEC would retain authority over assets that qualify as securities. The CFTC would receive broader powers over digital commodity spot markets and the platforms where these assets trade.Crypto companies have long argued that regulatory uncertainty forces the industry to operate through court cases and agency decisions. A permanent statutory framework could reduce the risk of major policy shifts following changes in the US administration.The House of Representatives passed the bill in July 2025 by a vote of 294 to 134. The Senate Banking Committee advanced the legislation to the Senate floor in May 2026 by a vote of 15 to 9.However, the Senate process remains incomplete. The current schedule indicates that a procedural vote on considering the bill could take place in September. This does not amount to a confirmed date for a final vote or passage.Ethics and stablecoin disputes continueOne of the main disagreements surrounding the CLARITY Act concerns political figures earning money from crypto investments. Many Democrats and some Republicans want strong provisions limiting federal officials’ ability to profit from crypto ventures while in office.Reuters reported that Trump earned more than $1.4 billion from crypto ventures linked to his family. World Liberty Financial and the TRUMP meme coin remain at the center of the conflict-of-interest debate.Trump says he has no role in the daily operations of his family’s businesses and that independent managers oversee his investments. The White House has also rejected allegations of wrongdoing.Another disagreement centers on rewards paid on stablecoin balances. Banks argue that allowing crypto platforms to offer returns to stablecoin holders could accelerate deposit outflows.Crypto companies say a broad ban would restrict competition and eliminate returns earned by users. The scope of stablecoin rewards was also one of the issues that prevented the parties from reaching an agreement during previous White House talks.Senate Banking Committee Chair Tim Scott has identified rewards, ethics provisions, DeFi, anti-money laundering rules and regulatory quorum requirements as the main areas of disagreement.Did the summit produce a concrete regulatory outcome?Trump’s remarks showed that the White House remains committed to passing the CLARITY Act. The presence of the SEC and CFTC chairs alongside industry executives also attracted attention as a sign of regulatory coordination.Still, the summit produced no new legislative text, agreement on stablecoin rewards or final version of the ethics provisions. Trump’s reference to a “fair version” suggests that negotiations over the bill remain underway.Amendments introduced in the Senate and support from Democratic senators will shape the next stage. If the Senate passes an amended version, lawmakers will also need to reconcile it with the text approved by the House of Representatives.Trump’s call has added political pressure to the process. Congress must still resolve disputes over ethics, regulatory jurisdiction and stablecoin rewards before the CLARITY Act can become law.
SEC Quietly Completes Crypto Vote: $75 Million Cap Proposed
The US Securities and Exchange Commission completed a crypto regulation vote without holding a public meeting, days after postponing it at the last minute. The SEC published its “Regulation Crypto Assets” proposal on Aug. 18, potentially allowing registration exemptions for token sales of up to $75 million.According to US journalist Eleanor Terrett, the commissioners voted separately through a process known as a “seriatim” vote. Voting documents were circulated among the commissioners, although the SEC did not disclose whether votes were submitted electronically or physically at its headquarters.The vote was originally scheduled for Aug. 14 as an open meeting broadcast to the public. That format would have allowed observers to see how each commissioner voted.The SEC said it canceled the meeting because of an “unforeseen scheduling issue.” It has not explained why it switched to a non-public voting process only a few days later.SEC proposes new framework for token salesThe US Securities and Exchange Commission proposed two new registration exemptions for token sales. Regulation Crypto Assets aims to establish a tailored offering framework for investment contracts involving crypto assets.According to the SEC’s Aug. 18 announcement, projects could raise up to $5 million under the first exemption. The second exemption would allow offerings of up to $75 million during a 12-month period.The proposed rules have not taken effect. The public comment period will remain open for 60 days after the proposal appears in the Federal Register.SEC proposes a $5 million startup exemptionThe first model, called the “startup exemption,” would remain available for a period of up to four years. A project could conduct token sales or related distributions worth up to $5 million during that period.The exemption could only be used once. An issuer and its affiliates could not begin another four-year period for the same crypto asset or a substantially similar asset.Projects seeking to use this pathway would have to submit a notice called Form NOR before beginning a sale. The issuer could be a company, an individual or a group of people.Projects would also have to provide investors with free and publicly accessible information. The disclosures would cover the project’s management, token features, development plans, offering terms, conflicts of interest and material risks.Issuers would need to update information after material changes. Projects would also have to file a transition report with the SEC by the end of the exemption period.Large token sales could reach $75 millionUnder the SEC proposal, the second model would contain two tiers similar to the existing Regulation A framework. Tier 1 would permit offerings of up to $20 million during a 12-month period.The Tier 2 limit would reach $75 million over the same period. Unlike the startup exemption, this pathway would only be available to issuers established as legal entities.Issuers would have to submit an offering statement called Form 1-CRYPTO before starting a sale. The offering could proceed after the SEC qualifies the document.Both tiers would require financial statements and ongoing reports. Tier 1 financial statements would generally not require an independent audit.Tier 2 issuers would have to provide independently audited financial statements. Projects would also submit annual, semiannual and current reports covering certain material developments.Which tokens could qualify for the safe harbor?The proposal includes a conditional safe harbor that could allow certain crypto assets to cease being subject to an investment contract. The project team would first need to complete or permanently discontinue the essential managerial and development efforts promised to investors.The issuer could not make new promises to perform managerial work related to the token. A project that believed it had met these conditions would file a transition report called Form TR.The report would explain the work completed by the project and how it satisfied the safe harbor conditions. If those conditions were met, the relevant investment contract would be deemed to have ended.The crypto asset would then no longer be treated as subject to that investment contract under US federal securities laws. The safe harbor would not create an automatic or unlimited securities exemption for every token.The SEC could challenge an issuer if it determined that the project made false statements or failed to satisfy the required conditions. Federal antifraud provisions would also continue to apply.Token projects could return to the USIf adopted, Regulation Crypto Assets would establish the first US offering framework designed specifically for crypto projects. Projects could use one of two pathways based on the amount of capital they intended to raise, instead of completing full securities registration.SEC Chair Paul Atkins said the proposal would give entrepreneurs clearer ways to raise capital under federal securities laws. The agency also expects the framework to reduce incentives for projects to establish their operations outside the United States.The SEC released the proposal after postponing last week’s meeting because of what it called an unforeseen scheduling issue. Projects cannot yet rely on either exemption to conduct token sales.A 60-day public comment period will begin after the proposal appears in the Federal Register. The SEC may then revise the proposal, adopt final rules or withdraw it.
SEC Cancels Meeting on Crypto Rules: No New Date Announced
The U.S. Securities and Exchange Commission (SEC) has canceled a meeting where it was expected to discuss new rules for crypto projects raising capital through token sales. The agency did not announce a new date for the meeting originally scheduled for August 14.SEC commissioners were expected to vote on a regulatory proposal called “Reg Crypto.” The proposal aimed to create a separate offering framework for investment contracts involving crypto assets, distinct from existing securities issuance rules.The decision does not mean that the SEC has withdrawn the proposal entirely. The agency only canceled the meeting and said it would reschedule it at a later date.SEC canceled the meeting at the last minuteThe SEC removed the meeting from its calendar late on Thursday, August 13. An agency spokesperson attributed the decision to an unforeseen scheduling issue.The agency provided no information about when the meeting would take place. It therefore remains unclear when the proposal will return to the agenda or when commissioners will hold the vote.At the open meeting, commissioners were expected to vote on whether to release the Reg Crypto proposal for public comment. Even if approved, the rules would not have taken effect immediately and would have required further evaluation following a formal public consultation process.Reg Crypto could make it easier for projects to raise fundsThe Reg Crypto proposal seeks to establish special offering conditions for projects conducting token sales. Under the current framework, tokens classified as securities may be subject to the registration and disclosure requirements applied to traditional securities offerings.The new regime could allow projects that meet certain conditions to raise capital under more limited requirements. SEC Chair Paul Atkins has previously discussed exemptions that could let crypto startups raise funds up to a specified amount or operate for a limited period.The final scope of the proposal remains unclear. The SEC is expected to determine requirements covering investor protection, project disclosures, fundraising limits and the duration of any exemptions after reviewing public comments.CLARITY Act delay extended regulatory uncertaintyThe SEC’s decision came as crypto legislation in Congress also lost momentum. The U.S. Senate entered a five-week recess without voting on the Digital Asset Market Clarity Act.The CLARITY Act aims to define the respective jurisdictions of the SEC and the Commodity Futures Trading Commission within the crypto market. The bill could also provide a clearer framework for determining which crypto assets qualify as securities and which should be treated as commodities.The postponement of the SEC’s regulatory initiative following the delay in Congress means uncertainty will continue for crypto companies. Until new rules are finalized, projects remain exposed to the risk of being assessed under existing securities laws.Tokenized securities plan was also affectedThe SEC was also expected to share information at the meeting about an “innovation exemption” for tokenized securities. The initiative seeks to make it easier for companies to issue and trade stocks and other securities through blockchain infrastructure.The innovation exemption is separate from the Reg Crypto proposal. Reg Crypto focuses on projects raising capital through token sales, while the innovation exemption covers blockchain-based trading of traditional securities.Industry sources say the SEC may also delay the innovation exemption following objections from the White House and traditional financial institutions. Discussions have focused on the agency’s legal authority to grant broad exemptions and how blockchain-based platforms would comply with existing market rules.SEC has not withdrawn the proposalThe cancellation does not indicate that the SEC has abandoned the Reg Crypto proposal or its broader crypto policy. Under Paul Atkins, the agency continues to pursue plans to reshape existing rules for crypto companies.However, the SEC has yet to announce a new meeting date or an updated timeline for the proposal. The agency could schedule another open meeting and return the Reg Crypto proposal to its voting agenda at a later date.
Polymarket and Coinbase Under Scrutiny as New York Launches Investigation
The New York City Council has launched an investigation into the prediction-market advertising activities of Polymarket, Kalshi, Coinbase, and Gemini Titan. The platforms face allegations of using misleading and aggressive marketing practices aimed at young users.As part of the investigation, the companies have been asked to provide information about their advertisements in New York, social media campaigns, and agreements with content creators. The Council will also assess whether new regulations are needed to strengthen consumer protections.New York seeks information from four platformsNew York City Council Speaker Julie Menin announced on August 12 that official letters had been sent to Polymarket, Kalshi, Coinbase, and Gemini Titan. The investigation focuses on the companies’ marketing and advertising activities that reach New York residents.The Council will examine whether the platforms have used false, misleading, or abusive advertising. Possible efforts to target young people, minors, and users vulnerable to gambling addiction are among the main areas under review.Prediction markets allow users to trade on the outcomes of real-world events involving politics, sports, culture, weather, and other topics. As the sector expands, New York officials believe these products are blurring the line between financial investments and online gambling.Council Member Harvey Epstein pointed to estimates suggesting that total prediction-market trading volume could reach $300 billion in 2026. Officials want to determine whether existing consumer protection rules are sufficient as the industry’s advertising spending grows.Polymarket advertising at the center of the investigationThe most detailed allegations in the investigation concern Polymarket. The Council is examining claims that the platform used social media influencers to encourage young adults to trade event contracts.The allegations include failing to disclose that influencer content was paid advertising. Polymarket is also accused of showing fabricated trades on websites designed to resemble its platform and presenting positions that would have generated losses as profitable wagers.The Council will also investigate whether promotional content encouraged insider trading. These allegations have yet to be confirmed by a court or regulatory authority.According to Reuters, Polymarket said it was prepared to engage with the New York City Council regarding the investigation. The company was asked to respond within 14 business days to questions about its use of social media, influencers, and content creators.Regulatory dispute over prediction markets intensifiesThe New York investigation has renewed debate over which authorities should regulate prediction markets and which rules should apply. The platforms argue that their products are federally regulated event contracts rather than sports betting.Companies such as Polymarket and Kalshi operate under the jurisdiction of the US Commodity Futures Trading Commission. State officials, however, believe some contracts effectively function as gambling products and should comply with local betting regulations.The New York City Council has yet to impose penalties on the companies or announce a specific bill. The investigation could lead to new consumer protection rules, advertising restrictions, public awareness campaigns, or additional oversight measures.A planned public hearing could increase political pressure on the platforms’ business models. The inclusion of major crypto companies such as Coinbase and Gemini alongside Polymarket suggests that the investigation may affect a broader segment of the prediction-market industry.
Russia Opens Local Exchanges to Bitcoin, Ether and USDT
The Bank of Russia has added Bitcoin, Ether and Tether’s USDT stablecoin to the list of crypto assets eligible for public trading on domestic exchanges. Russian investors will be able to buy and sell these assets through the country’s regulated market.Trading will not begin immediately. The decision appears in a draft regulation that remains open for public consultation, while exchanges and intermediaries still need to complete the technical preparations.Bitcoin, Ether and USDT met the requirementsAccording to the Bank of Russia’s August 11 announcement, the regulator selected eligible cryptocurrencies using three main criteria. It considered market capitalization, average daily trading volume and pricing history on foreign platforms.A crypto asset must have at least five years of pricing history on foreign exchanges to qualify. Russia’s new crypto law also requires an average market capitalization above 5 trillion rubles and an average daily trading volume exceeding 1 trillion rubles over the previous two years.Based on these criteria, Bitcoin, Ether and USDT became the three liquid assets available to non-qualified investors. Smaller altcoins were excluded from the initial list.The Bank of Russia may temporarily approve other cryptocurrencies for public trading for periods of up to six months. Qualified investors will be able to purchase any cryptocurrencies offered on exchange or over-the-counter markets without an investment cap.Retail investors face a 300,000-ruble limitThe new rules introduce an annual purchase limit of 300,000 rubles for non-qualified investors. The limit will apply separately to each broker, crypto exchange or asset manager.Investors must pass a knowledge test before making transactions. Intermediaries will also need to inform customers about crypto market volatility and the risk of losing their capital.The regulator aims to restrict retail access to highly volatile tokens with insufficient liquidity. Bitcoin, Ether and the dollar-backed USDT will therefore dominate the market during its initial phase.The draft regulation will remain open for public consultation until August 24. The Bank of Russia will review the submitted feedback before publishing the final rules.Crypto trading could begin in NovemberRussian President Vladimir Putin signed the country’s Digital Currencies and Digital Rights law on August 4. Most of the legislation will take effect on September 1, 2026.The law classifies cryptocurrencies as property and allows investors to defend their ownership rights in court. It also creates a legal framework for crypto trading, custody and authorized cross-border transactions.However, using cryptocurrencies to pay for goods and services within Russia will remain prohibited. The new framework permits crypto assets for investment purposes without recognizing them as legal tender.Bank of Russia First Deputy Governor Vladimir Chistyukhin said regulated crypto transactions could begin in November. The Moscow Exchange also aims to launch Bitcoin, Ether and USDT trading before the end of 2026.Licensing requirements will take effect on July 1, 2027. From that date, brokers, crypto exchanges and digital custody providers will need authorization from the Bank of Russia to operate.Meta Title: Russia Approves Bitcoin, Ether and USDT TradingMeta Description: The Bank of Russia has approved Bitcoin, Ether and USDT for trading on domestic exchanges under its new regulated crypto framework.Keywords: Russia, Bitcoin, Ether, USDT, Bank of Russia, cryptocurrency, Moscow Exchange
U.S. Crypto Bill Delayed: Clarity Act Vote Postponed Until September
The U.S. Senate will not vote in August on the Digital Asset Market Clarity Act, which aims to establish a regulatory framework for the cryptocurrency market. Senate Majority Leader John Thune said lawmakers would take up the bill after returning to Washington on September 14. The crypto industry had expected senators to resolve the remaining disputes before leaving for the summer recess. However, disagreements among both Democrats and Republicans pushed the vote into September.According to the Senate’s official calendar, lawmakers will return to Washington on September 14. They will then have approximately three weeks to work on the Clarity Act and other pending matters.John Thune points to SeptemberJohn Thune confirmed through a spokesperson that the Senate would not hold a Clarity Act vote in August. He said the bill would become one of the chamber’s first priorities after lawmakers return.Thune said Democrats opposed holding the vote in August. He also noted that he had worked with the bill’s sponsors and highlighted Republican Senator Cynthia Lummis’ role in the process.Before the summer recess, the Senate will focus on a continuing resolution that would fund the federal government through the midterm elections. A Russia sanctions package and several federal nominations also remain among its top priorities.The lack of a time agreement limiting debate on the Clarity Act made it even more difficult to add the bill to the August schedule. Senators reached such agreements for other pending matters, but they failed to secure a similar compromise for the crypto legislation.Clarity Act needs 60 votesThe bill needs support from at least 60 senators to clear the procedural hurdle in the Senate. However, it remains unclear whether the legislation currently has even the 50 votes required for a simple majority.Several Republican senators have publicly opposed the bill. Meanwhile, Democrats want President Donald Trump to accept stricter ethics rules covering his activities in the cryptocurrency industry.The Senate Banking Committee approved the Clarity Act in May by a vote of 15 to 9. Democratic Senators Ruben Gallego and Angela Alsobrooks supported advancing the bill out of committee. However, that bipartisan support does not guarantee the 60 votes required on the Senate floor.Lawmakers have reached agreements on most of the bill’s technical provisions. Still, the remaining disagreements increasingly focus on political issues.Trump’s crypto income becomes central to ethics debateThe biggest dispute concerns an ethics provision governing the financial interests of President Trump and other senior government officials in the cryptocurrency industry. Trump disclosed that he earned more than $1 billion from his various crypto ventures in 2025.Trump reportedly accepted an ethics provision brokered by Cynthia Lummis. However, Democratic senators and Republican Senator Thom Tillis argued that the existing language did not go far enough.Tillis and Democratic Senator Ruben Gallego drafted an alternative ethics proposal and sent it to the White House at the end of July. The White House has yet to respond publicly.Provisions under the Senate Agriculture Committee’s jurisdiction, law enforcement concerns, and yields and rewards offered to stablecoin holders also remain unresolved.First vote could take place on September 15 or 16The next critical step depends on when John Thune files for cloture on the bill. Cloture is a Senate procedure that limits debate and allows legislation to move toward a vote.If Thune files for cloture before the Senate leaves for recess, lawmakers could hold the first procedural vote on Tuesday, September 15. If he waits until senators return, the first vote could take place no earlier than Wednesday, September 16.Industry representatives remain hopeful that the bill can advance in September despite the delay. Digital Chamber CEO Cody Carbone said the parties would spend the coming weeks working to find the common ground required for a successful vote.Crypto Council for Innovation CEO Ji Hun Kim described the delay as disappointing. According to Kim, the absence of a comprehensive market structure law continues to push U.S. users and developers offshore.If enacted, the Clarity Act could establish clearer rules for determining whether crypto assets qualify as securities or commodities. The bill also aims to clarify the division of regulatory authority between the U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission.
Türkiye’s Capital Markets Board Moves to Block Access to 12 Crypto Websites
Türkiye’s Capital Markets Board (SPK) has initiated proceedings to block access to 12 websites that it determined were providing unauthorized crypto asset services to users in the country. The list includes international crypto exchanges such as Toobit and Bit2Me, alongside lesser-known investment platforms.The SPK announced the decision in its weekly bulletin dated August 5, 2026. The regulator will initiate the necessary legal proceedings under Article 99/A of the Capital Markets Law to restrict access to the platforms.Toobit and Bit2Me are also on the listThe websites named by the SPK include toobit.com, rainiks.pro, webtrader.ifc-f1nance.online, bit2me.com, app.bit2me.com and coinup.io. The regulator issued the same decision for neroxinvest.com, alveon-ltd.com, limartu-ledthra.org, goartex.com, parabu.io and coinbalina.com. Bit2Me’s main website and app address were counted separately, bringing the total number of listed web addresses to 12.Some of the domains appear to belong to investment websites without a widely known corporate identity or a significant user base in Türkiye. However, Toobit and Bit2Me are among the international crypto platforms operating across multiple countries.The decision does not constitute a fraud findingThe SPK’s decision does not mean that every website on the list has committed fraud. The regulator did not describe the platforms as scams or accuse them of fraudulent activity in its bulletin.The stated reason for the action is that the platforms allegedly provided crypto asset services to Türkiye-based users without authorization from the SPK. Therefore, lesser-known websites that may appear suspicious can be listed alongside established international exchanges under the same regulatory grounds.Under Türkiye’s regulations, a foreign platform may be considered to target users in the country if it creates a Turkish-language website, promotes its services directly in Türkiye or conducts marketing activities through Türkiye-based individuals or organizations.The decision comes as Türkiye tightens its oversight of unauthorized foreign platforms operating in its crypto market. Crypto asset service providers came under the SPK’s supervision in 2024, while secondary regulations introduced in 2025 established detailed requirements covering capital, custody, asset listings and the protection of customer funds.The latest bulletin indicates that the regulator has begun applying this framework not only to domestic companies but also to foreign platforms targeting users in Türkiye, gradually expanding the scope of its enforcement.Users should monitor the process closelyThe publication of the websites in the bulletin does not mean that access was immediately blocked. At this stage, the SPK has decided to initiate the legal proceedings required to enforce the restrictions.The accessibility of the platforms, withdrawals and the availability of their mobile applications will now become key issues for account holders. Users may need to review their accounts, open positions and custody arrangements before any potential access restrictions take effect.
Circle Secures New York Trust Charter: Second Regulatory Approval for USDC
Circle Internet Group (CRCL), the issuer of the dollar-backed stablecoin USDC, announced that it has received a limited-purpose trust charter from the New York State Department of Financial Services (NYDFS). The new entity will operate under the legal name Circle Internet Trust Company LLC and will be known as Circle New York Trust.In a statement released Friday, the company said the move strengthens its regulatory position in New York, which it considers a key financial center. The charter follows Circle’s approval from the Office of the Comptroller of the Currency (OCC) earlier this month to establish a national trust bank.Two approvals at different regulatory levelsCircle’s two recent approvals serve different purposes. On July 10, the OCC authorized the creation of First National Digital Currency Bank N.A., which will operate under the Circle National Trust brand at the federal level.The institution will be able to provide fiduciary custody services for digital assets. Although managing USDC reserves was a central part of Circle’s original application, that function was deferred to a later stage.The New York charter adds a separate regulatory layer at the state level. Circle had already stated in earlier federal filings that USDC issuance would take place through a New York-based limited-purpose trust company rather than the national trust bank.Circle became the first company to receive a BitLicense from the NYDFS in 2015. The new charter extends a regulatory relationship that now spans more than a decade.Allaire: “Something we have pursued for a long time”Circle co-founder, chairman and CEO Jeremy Allaire said obtaining the New York trust charter had been a long-standing priority for the company. According to Allaire, the regulatory clarity provided by the charter played a decisive role in that goal.The CEO also described the NYDFS as an international reference point for digital asset regulation. He said the framework places USDC in a strong position as digital dollars move closer to the center of the global financial system.Circle is not the first crypto company to receive a similar limited-purpose trust charter from the NYDFS. Coinbase, MoonPay, BitGo and Paxos have already secured comparable approvals, making Circle the latest major industry name to join the list.Market reaction and USDC’s positionCircle shares traded at $64.24 on Friday morning, remaining close to their previous closing level. USDC’s market capitalization has surpassed $71.8 billion, making it the world’s second-largest stablecoin behind Tether’s USDT.Alongside USDC, Circle operates the Circle Payments Network and the Arc blockchain. The company’s successive federal and state-level approvals represent concrete steps in its plan to expand custody and fiduciary services for institutional clients.
Binance Takes Aim at Kalshi and Polymarket With U.S. License Application
Binance.US, the American affiliate of Binance, will begin the formal application process for its own prediction market platform next month. The company aims to secure a designated contract market (DCM) license from the Commodity Futures Trading Commission (CFTC).What does the license allow?Binance.US CEO Stephen Gregory announced at the Rare Evo conference in Las Vegas that the company plans to submit its DCM application in August. A company spokesperson later confirmed the plan to The Block, showing that the move is official rather than market speculation.DCM status applies to exchanges that can legally list futures and derivative contracts in the United States. Platforms holding this license operate under federal oversight and can offer futures, options and event-based contracts to retail investors.In practice, this allows users to trade “yes or no” contracts tied to subjects ranging from election results to central bank decisions. If Binance.US receives approval, it will compete directly with Kalshi and Polymarket US, which already operate under the same regulatory framework. The company would therefore enter a market with more than one established rival.Binance.US joins a crowded raceBinance.US is far from the only company seeking a position in this market. Gemini has already secured a CFTC license this year. Coinbase chose a different route, partnering with Kalshi instead of pursuing a license independently.Robinhood appears to be considering a similar strategy. According to a Wall Street Journal report published last week, the trading platform is in talks to bring Crypto.com’s prediction market contracts into its own application.Crypto exchanges and traditional financial platforms are moving one after another to secure a share of the emerging market. Binance.US’s entry would add one of the industry’s largest names to an increasingly competitive race.The legal dispute remains unresolvedThe prediction market sector continues to expand, but the legal framework surrounding it has yet to develop at the same pace. Regulators in more than a dozen U.S. states have challenged platforms offering sports-related contracts.The CFTC takes the opposite position. The federal regulator argues that it has exclusive jurisdiction over event contracts.State authorities view these products through the lens of gambling regulations. The CFTC, meanwhile, claims that federal law overrides attempts by individual states to intervene. Prediction market platforms now find themselves caught between two authorities asserting competing powers over the same products.Neither side appears willing to back down. The dispute will likely require a court ruling or new legislation before the legal boundaries become clear.If Binance.US receives approval, four major platforms — Kalshi, Polymarket US, Gemini and Binance.US — could compete directly in the U.S. prediction market sector. That number may rise to five if a partnership between Robinhood and Crypto.com becomes official.The expanding field highlights how seriously crypto exchanges are moving into areas traditionally dominated by Wall Street. Prediction markets could become the next major battleground between cryptocurrency platforms and established financial companies.
Trump’s Approval of Ethics Provision Lifts Crypto Market, Bitcoin Rises
The crypto market gained strong momentum today following reports that the final obstacle blocking the long-awaited US crypto market structure bill, the CLARITY Act, may have been removed.Eleanor Terrett, host of the Crypto in America program, said on X that President Donald Trump had agreed to a critical ethics provision in the bill. According to Terrett, the language was sent to a group of Republican senators. This marks tangible progress in negotiations that have remained stalled for months.Why was the ethics provision so important?The ethics issue was the main obstacle preventing the CLARITY Act from advancing through the Senate. The bill aims to distinguish digital assets classified as commodities from those treated as securities, draw clearer regulatory boundaries between the SEC and CFTC, and end years of uncertainty shaped by enforcement actions and lawsuits.At the center of the debate is the extent to which serving politicians should be allowed to profit from crypto. Trump’s own meme coins and his family’s stake in World Liberty Financial have intensified scrutiny. Financial disclosures released last month showed that these investments had generated millions of dollars for him.The provision was discussed during a July 16 meeting involving Trump, Republican Senators Bernie Moreno and Cynthia Lummis, and White House crypto adviser Patrick Witt. A source speaking to CoinDesk said a preliminary agreement had been reached with Trump.However, Democrats have not yet seen the proposed language, and no draft has been made public. The White House and the offices of the senators involved declined to comment. The source said the draft was expected to be released shortly. The Senate needs to vote on the legislation by early August.Market reaction came quicklyBitcoin climbed above $66,000 following the reports. The cryptocurrency gained roughly 3% to 3.5% over the past 24 hours, reaching its highest level in more than a month. Ethereum, BNB and XRP posted even stronger gains. Another factor supporting the rally came from Asian markets. Selling pressure on semiconductor stocks, which weighed on crypto prices last week, began to reverse. The rebound helped strengthen broader risk appetite.Alex Kuptsikevich, chief market analyst at FxPro, pointed to the 61.8% Fibonacci retracement level of the May–June decline, located below $68,000. He said a sustained move above this area would provide further confirmation of a bullish trend reversal.Prediction markets also changed directionOn prediction platform Polymarket, the implied probability of the CLARITY Act becoming law this year jumped from 32% on Friday to 43% on Monday. The increase marked a sharp recovery from the market’s lowest level since trading began in January.The rally continued during the European session on Tuesday morning. Bitcoin traded near $66,300, with its 24-hour gain approaching 3%. Ethereum and XRP rose by around 4%.Market participants, however, pointed to the recovery in artificial intelligence and semiconductor stocks, led by memory chip manufacturers such as Samsung and SK Hynix, as the main driver of the move. Reports concerning the ethics provision were viewed as an additional factor strengthening risk appetite.The bill’s fate now rests with the Senate. Until the proposed language is officially released, it remains uncertain how long the market can maintain its current optimism.
