Tag: Crypto regulation

The Federal Reserve on Sept. 24 proposed full 1:1 reserve backing and standardized capital rules for Board-supervised payment stablecoin issuers under the GENIUS Act. Operational-risk capital would start at 2% of the first $20 billion outstanding, stepping down to 1% above $50 billion. Issuers would generally have to redeem tokens within two business days and publish monthly, accountant-examined reserve reports. A second proposal sets a bank...

U.S. crypto regulators moved on their own after Congress stalled, with the Commodity Futures Trading Commission sending a market-structure rulemaking to the White House and the Securities and Exchange Commission opening a temporary path for onchain stock trading. The shift comes two days after the Senate voted 49-50 against advancing the Clarity Act, short of the 60 votes needed to proceed. On Thursday, the CFTC filed Regulation Crypto Asset...

The SEC on Sept. 17 issued a five-year Innovation Exemption allowing Tokenized Securities Venues to trade tokenized NMS stocks onchain without registering as exchanges. The order also exempts certain liquidity providers from the Exchange Act’s dealer definition. Tokens must confer the same rights as traditional shares; synthetics are excluded and issuers may object to third-party tokenization. Chair Paul Atkins framed the order as a response...

The Senate rejected cloture on the Clarity Act 49-50 on Sept. 15, 11 votes short of the 60 needed to begin debate. SEC Chair Paul Atkins said the agency will act “with or without legislation” using existing statutory authority. CFTC Chair Mike Selig said the commission is “locked in and ready to ship” crypto market rules. JPMorgan called the remaining legislative window “extremely narrow” and said agency rules are less durable than statute....

The U.S. Senate on Tuesday failed to advance the Digital Asset Market Clarity Act, rejecting cloture on the motion to proceed to H.R. 3633 by a 49-50 vote and leaving the industry’s flagship market-structure bill 11 votes short of the 60 required to begin formal debate. According to the Senate Daily Press log, voting began at 2:18 p.m. and the result was announced at 3:00 p.m. Sen. Chris Coons did not vote. Republican Sens. Susan Collins, Josh...