Tag: Crypto regulation

First approvals: HKMA issued the initial batch of stablecoin licenses to HSBC and Anchorpoint Financial (Standard Chartered-led consortium with Animoca Brands). Regulatory milestone: Licenses granted under the Stablecoins Ordinance that took effect in August 2025; HKMA reviewed 36 applications. Strict safeguards: Stablecoins may only transfer to identity-verified wallets; travel rule applies to transfers above HK$8,000. Issuer...

CFTC position: Enforcement Director David Miller stated that insider trading laws apply to prediction markets, directly countering claims that they do not. Legal classification: Event contracts are treated as swaps rather than gaming, subjecting them to standard market-abuse rules. Market scale: Prediction markets have scaled to more than $20 billion in monthly volume according to TRM Labs data. Recent scrutiny: Suspicious...

Congresswoman Maxine Waters sent a letter on March 26, 2026, to Federal Reserve Bank of Kansas City President Jeff Schmid inquiring about Kraken Financial’s master account approval. The letter seeks details on the account’s access to Fed services, risk controls, and whether enhanced oversight was applied beyond Wyoming SPDI requirements. The approval, granted March 4 for an initial one-year term, marks the first such access for a...

Departure details: Sacks concluded his tenure on March 26, 2026, after serving the maximum 130 days as a special government employee. New position: Co-chair of the President’s Council of Advisors on Science and Technology (PCAST), expanding his advisory scope to broader technology issues including AI. Legislation status: Market-structure bill (Clarity Act) and stablecoin regulation still pending; Senate Banking Committee markup now...