News linked to this event type.
Odaily News: On September 24, three divisions of the CFTC updated their crypto asset FAQ, allowing futures commission merchants to invest customer funds in permitted tokenized assets, provided that the asset grants holders the same or functionally equivalent legal and economic rights as traditional forms and is held at a compliant depository institution. Regulatory records may be maintained via blockchain without the need for a separate off-chain copy; payment stablecoins still may not be used as an investment target for customer funds. This guidance constitutes staff opinion and does not have the force of law.
Odaily News: The U.S. Senate failed to advance the Clarity Act last week in a procedural vote of 49 in favor and 50 against, falling short of the required 60-vote threshold. Negotiations on the market structure bill reached a deadlock over ethics provisions related to Trump's crypto business.The U.S. Securities and Exchange Commission (SEC) subsequently introduced a digital asset "innovation exemption," allowing qualifying platforms to trade onchain tokenized U.S. stocks without registering as national securities exchanges. The U.S. Commodity Futures Trading Commission (CFTC) issued a no-action position for passive software providers and submitted a broader crypto market rulemaking proposal to the White House for review.The Federal Reserve proposed requiring stablecoin issuers under its supervision to fully back tokens with safe, liquid assets and hold capital against operational risks. The Office of the Comptroller of the Currency (OCC) is advancing stablecoin rulemaking and plans to finalize the relevant rules by November. (Decrypt)
Kalshi lost its appeal as the Sixth Circuit Court ruled that states may regulate sports betting contracts, a decision that diverges from its prior partial victories and could pave the way for the case to reach the Supreme Court.
Odaily Report: Michael Saylor published a long article titled "Prescriptions for Prosperity in the Digital Economy," stating that artificial intelligence will greatly enhance the productive capacity of individuals and enterprises, thus requiring greater freedom to create, finance, own, and trade assets. He proposed establishing a "Digital Bill of Rights" for digital assets, the core of which is to grant individuals and enterprises the rights to Create, Issue, Custody, Transfer, and Use digital assets, and to provide foundational protections in financial privacy, asset ownership, and market access.Saylor believes that digital intelligence will drive the birth of a large number of new enterprises, and that the cost, complexity, and time required for financing should be reduced, while capital formation efficiency should be improved through means such as digital tokens. He proposed aiming to enable 10 million new businesses to access financing, while establishing clear issuance rules and risk-matched information disclosure requirements.Regarding the digital dollar, Saylor advocates allowing banks, fintech companies, and technology platforms to compete more fully in digital dollar products, and permitting issuers to compete on yield. He believes that the United States can further expand the global reach of the dollar by allowing enterprises to develop more competitive digital dollar products.As for Bitcoin, Saylor defines it as "Digital Capital," advocating that banks be allowed to custody Bitcoin under clear rules and provide credit using it as collateral, while establishing a viable path for insurance companies to include digital capital in their balance sheets and product design. He specifically mentioned that the Basel Accord applies a 1250% risk weight to certain crypto asset exposures, and believes that regulators should reassess relevant capital requirements based on the actual risks of digital assets and specific business activities.
Galaxy Research stated that the U.S. Commodity Futures Trading Commission (CFTC) this week issued guidance on "Mention Markets," which involve prediction markets tied to individual statements, event attendance, and interactions. The agency noted that unlike traditional event contracts such as whether the Federal Reserve will raise interest rates, where individuals cannot easily control the outcome, mention markets settle on the autonomous behavior of specific individuals—for example, "whether Musk will mention Bitcoin on the next SpaceX earnings call"—and therefore carry higher manipulation risk. The CFTC's Division of Market Oversight (DMO) believes that such markets should be presumed to be "susceptible to manipulation" and requires exchanges to assess them across four dimensions: independent constraints controlling the individual, external pressure risks, independent verification and public scrutiny, and trading rules and surveillance measures.Galaxy Research noted that the guidance does not constitute binding rules and does not prohibit exchanges from listing mention markets. However, even when the above criteria are met, it remains difficult to fully address the manipulation risk arising from individuals voluntarily triggering market outcomes without economic incentive, and the First Amendment also limits regulators' ability to impose prior restraints on individual speech.
According to Cointelegraph, the Federal Reserve recently opened for public comment on two regulatory proposals under the Genius Act regarding the issuance of payment stablecoins. The new rules aim to establish an issuance framework for regulated stablecoins through full reserve asset requirements and an approval process.
SEC Commissioner Hester Peirce, known as the "Crypto Mom," has submitted her resignation and plans to step down at the end of October to return to teaching. Her departure comes amid a major shift in SEC regulatory policy, and there is currently no clear successor.
Bitget CEO Gracy Chen thanked Circle and Tether for their swift action. The Bitget Asset Recovery Bounty Program has now been launched, offering a 5% reward respectively to participants who assist in freezing the attacker's funds and recovering the assets, and calls on exchanges, security researchers, and on-chain investigators to participate.
The U.S. CFTC filed a civil lawsuit against Cash FX Group and related individuals, alleging that it used AI and high-return promises to package forex investments, which were actually a Ponzi scheme involving over $950 million.
According to an official announcement, Gate's Stock Token Zone will list MAG7XON, BRAINON, YLD5ON, YLD8ON, BLKHION, BLKDIGON, and BLKGRWON for spot trading and flash swap trading on September 28.Gate's stock tokens are launched through a partnership between Gate and Ondo, adopting a compliant real-world asset tokenization model that supports 24/7 trading, fractional share trading, and on-chain transfers. Users can participate in the relevant markets using USDT, providing a new connection between traditional stock assets and the on-chain trading ecosystem.
Odaily News: Bitget posted on X platform that the vulnerability involved in the September 24 security incident has been identified and fixed. The team is conducting additional verification and security checks on the withdrawal infrastructure, with Mandiant and SlowMist continuing to assist with the investigation. The temporary suspension of withdrawals is a security measure and is unrelated to the availability of user assets; user account balances have not been affected, and the Bitget Protection Fund will cover the financial impact of this platform-wide incident.Bitget plans to resume withdrawals in phases: Bitcoin network withdrawals will resume on September 28 at 8:00 (UTC); ETH withdrawals on the Ethereum, BSC, Arbitrum, Base, and Optimism networks will resume on September 29 at 8:00 (UTC); USDT withdrawals on the Ethereum, BSC, Solana, and Tron networks will resume on September 30 at 8:00 (UTC); other tokens, fiat, and P2P withdrawals will resume on October 2 at 8:00 (UTC). Trading and deposit services continue to operate, and users do not need to take any action in advance.
Odaily report: According to RevokeCash monitoring, if users have previously traded NFTs on the Magic Eden Ethereum marketplace, their wallets may have granted approval to Limit Break's Payment Processor contract; this contract currently has a known vulnerability, and it is recommended to revoke the approval. Magic Eden previously stated that NFTs currently still listed on its platform are not affected by this vulnerability; NFTs listed through its EVM marketplace between approximately February 2024 and October 2024 may be affected, while listings after October 2024 are in principle not affected. Magic Eden is contacting protocol owner and maintainer Limit Break to study other risk mitigation measures, including pausing protocol transfers, and continues to investigate the actual scope of impact.Users who have previously listed or traded NFTs on the Magic Eden EVM marketplace should revoke the relevant contract approvals on Ethereum, Polygon, and Base networks, and revoke all NFT approvals marked as "approved for all." Yuga Labs Blockchain Vice President Quit stated that the asset claim website for the Payment Processor vulnerability NFT theft incident has officially launched; affected users whose NFTs were successfully safeguarded can now claim, but must first revoke their approval to the Payment Processor.
According to Bloomberg citing sources familiar with the matter, bets on Polymarket regarding the likelihood of major banks such as Wells Fargo, JPMorgan Chase, and Bank of America collapsing are drawing attention from U.S. regulators and members of Congress. While these contracts currently represent only a small portion of trading on this offshore prediction market platform, some officials fear that expanding trading volumes could exacerbate market panic and fuel real-world bank runs. Polymarket stated that its platform prohibits U.S. users from participating.
AlphaFi, a decentralized finance protocol on the Sui ecosystem, has announced the initiation of an orderly shutdown process. The protocol has entered maintenance mode, halting new deposits and borrowings, while existing users can still close positions and withdraw assets. Previously, certain loan positions collateralized with ALPHA in AlphaLend became severely undercollateralized, resulting in bad debt for the protocol. The associated bad debt has now been fully covered, restoring the protocol's solvency and ensuring the safety of user funds. AlphaFi will continue to cooperate with the Sui Foundation's investigation to recover outstanding debts, and will formally exit the Sui ecosystem once the final user completes their withdrawal.
The U.S. Court of Appeals for the Sixth Circuit recently ruled that sports-related contracts on the Kalshi platform fall under state-level gambling regulation rather than federal financial derivatives. This ruling deepens the split within the national judicial system over regulatory authority for prediction markets, and the case is expected to be appealed to the Supreme Court.
Odaily News: A panel of judges on the US Sixth Circuit Court of Appeals has ruled that prediction market platform Kalshi's sports event contracts do not constitute swaps, and are therefore subject to state-level gambling regulation rather than US Commodity Futures Trading Commission (CFTC) rules.The ruling involves two lawsuits filed by Kalshi against regulatory authorities in Ohio and Tennessee. Kalshi sought injunctions to block the two states from pursuing legal action against it, but the Ohio federal court denied its request, while the Tennessee federal court granted it. (CoinDesk)
Former CFTC Commissioner Summer Mersinger will step down as CEO of the Blockchain Association on October 16, with Kristin Smith set to return to the role. Her departure comes as the association's core legislative bill faces setbacks on the congressional agenda.
According to CoinDesk, the crypto lobbying group Blockchain Association announced that CEO Summer Mersinger is stepping down, with original founder Kristin Smith assuming the role of interim leader, and the transition to be completed on October 16. This leadership change comes shortly after the industry's Digital Asset Market Clarity Act was rejected by the Senate.
autopsy results show Hsin-Ju Chuang, a former partner at crypto venture capital firm Hack VC, died by suicide on August 24. The California Highway Patrol stated that the investigation into the specific circumstances of the incident is still ongoing.
Federal Reserve official Harker stated that current underlying inflation may be above policy targets. This remark underscores policymakers' cautious stance on price trends, providing important reference for future interest rate decisions.