Policy

Three letters dated Tuesday also go to Aristotle Exchange, which runs PredictIt, and each sets the same return date of October 13. The Hyperliquid letter's central example is not an event contract but a leveraged short on bitcoin and ether perpetuals, and the $1.1 billion figure attached to it sits in a footnote citing a press column.

Seven Senate Banking Democrats wrote to Chairman Tim Scott asking that prediction markets be examined in a public, bipartisan hearing rather than the Republican-only roundtable held Wednesday morning with Kalshi's chief executive. Their letter points at Cboe's request to list all-or-nothing options on corporate earnings, a product they argue could reach the SEC's jurisdiction.

RIN 3038-AF80 arrived at OIRA on September 17 under a title naming two regulations, crypto asset transactions and crypto asset markets. The rule has never appeared in a Unified Agenda, so no abstract, timetable or text exists publicly.

The Financial Services Committee approved H.R. 8957 by 28 votes to 21 on Wednesday, but on a substitute text that replaced the bill Nick Begich introduced in May. The 20-year holding period survived; the quarterly proof-of-reserve report in the original became an annual one.

The Ways and Means Committee marked up H.R. 10357 on Wednesday morning, a day after the CLARITY Act stalled in the Senate. The bill waives tax on network fees of $10 or less from 2028, but settles only that staking and mining rewards are ordinary income, not when they are taxed.

Cloture needed 60 votes and drew 49. Thom Tillis switched his vote to no and asked to enter a motion to reconsider, which one industry group says leaves room for a second attempt within two days.

The listing prohibition only reaches tokens issued from 1 January 2027, and the compliance burden lands on exchanges rather than on the officials the bill targets.

The BankChain Alliance has 3,283 member banks and $21.8 trillion of assets behind it, a 2027 target and no technology partner. The same associations spent July asking the Senate to delete the CLARITY Act subsection that lets stablecoin issuers pay activity-based rewards.

The comment letter is the clearest signal yet that Hyperliquid intends to be regulated in the United States rather than merely referenced by policymakers. President Trump named the platform at an 18 August press conference.

The FMA said the exchange filed a mandatory white paper less than 20 working days before publication and ran marketing without the disclosures MiCA requires.

The Standard Chartered-backed issuer put HKDAP into beta on Wednesday, with HashKey Exchange and OSL Group cleared to mint and redeem for professional investors only.

Approval opens a comment period on Paul Atkins's three-track proposal: a startup exemption, a fundraising exemption, and a safe harbor that ends investment-contract treatment once network development is complete. Compliance-relevant adoption is a 2027 story.

The Senate reserved Monday's roll call for the continuing resolution. Majority Leader Thune now only says he hopes to begin consideration of the bill before the August 8 recess.

Majority Leader John Thune said the crypto market-structure bill wouldn't reach the floor before the August 7 recess. Galaxy's Alex Thorn set the odds of 2026 passage at 30 per cent, down from 50 last month.

Two IRGC-linked entities and eight shadow-fleet tankers were designated on 29 July, cutting the digital rail Tehran opened in May to charge Strait of Hormuz tolls in bitcoin and USDT.

The Fed chair asked officials to submit written views on shrinking a calendar that has held eight meetings a year since Paul Volcker set it in 1981. Six is the number circulating in Washington.

HB 639 gives residents a self-custody right, exempts miners and validators from money-transmitter licensing, and creates a dedicated superior-court docket for blockchain disputes.

The 18 July statutory deadline for GENIUS Act final rules pushes six federal agencies to publish frameworks that would impose bank-quality compliance stacks on stablecoin issuers — a cost structure the mid-market cannot carry and has been slow to prepare for.

The Securities and Exchange Commission opened a formal comment period on Tuesday covering crypto, prediction-market, and leveraged ETFs — a 27-question consultation that stops well short of a rule proposal but signals that the agency wants a written record before it rewrites how unconventional funds reach retail.