Regulatory developments and legal frameworks for cryptocurrency.
186 articles
A unanimous panel held that Kalshi's sports event contracts are not swaps because a game result carries no financial consequence of its own, affirming Ohio's refusal of an injunction and vacating Tennessee's. Three appeals courts have now ruled and Kalshi has won one of them, with New Jersey's petition already waiting at the Supreme Court.
The Division of Corporation Finance's updated crypto FAQs answer buyback, maintenance and marketing questions the same way: once a system is functional, none of it counts as the essential managerial effort that makes a token an investment contract. The staff attached the reverse warning to networks that do not yet work, and noted the answers have no legal force.
New Jersey's petition asking whether Dodd-Frank preempts state sports betting law reached the Supreme Court on September 2, and the first amicus brief was docketed three weeks later. The clerk has since pushed the deadline for a response to November 9, which keeps the petition off the justices' conference list until late November at the earliest.
Venues can trade tokenized National Market System stock without registering as exchanges, on notice rather than approval. A venue may list at most 75 Tier 1 names, a tier that takes in S&P 500 and Russell 1000 stocks, and trade no more than 0.25 percent of a name's average daily volume in the prior month.
The Gangwon Provincial Police registered 26 domestic users as criminal suspects and referred 18 of them, a month after Korea's communications regulator blocked the platform. Police argue that staking crypto on an outcome the buyer cannot control meets the elements of gambling under Article 246.
Hefu Chai and Huaisong Xiang each face one Commodity Exchange Act count and one wire fraud count over perpetual futures bought before Robinhood announced listings. Trading derivatives rather than spot tokens is what routes the case through commodities law.
Treasury named the Chinese-language marketplace along with SafeW, the encrypted messenger Xinbi moved onto in 2025, and Anwen, which built its XinbiPay wallet. OFAC puts the platform's lifetime flow above $24 billion.
Roman Ż. is accused of taking PLN 7.8 million from customer accounts by altering the exchange's own records. The wider case now covers PLN 350 million and more than 3,600 complaints.
Cloture takes 60 votes and Republicans hold 53. The provision holding the bill up is not market structure but an ethics ban on officials and their spouses issuing tokens.
The $560,000 in confiscated cryptocurrency is the smaller half of the operation. The FBI also came away with information on thousands of people who tried to give.
The complaint says the blacklist followed an informal request from a Homeland Security Investigations agent in October. The seizure warrant arrived in February, and told Tether to burn the tokens and mint replacements.
The prohibition sits in the same consultation that would let a handful of foreign-issued tokens carry Singapore's regulatory label. Comments close on 16 October.
Beijing blocked the communiqué over language on trade surpluses, not crypto. The digital asset commitments went out anyway, carrying nineteen names and the chair's.
The 421-page proposal lets share registers run on blockchains and asks whether wallet addresses can replace postal ones. Comments close 60 days after Federal Register publication, and Hester Peirce will have left the Commission before they are read.
The Securities and Futures Commission listed SBCFX and three related Star Bridge entities on 28 August. Around 3,000 retail traders had already been liquidated on London gold, and their margin was posted in Tether, which is the part that may not come back.
A unanimous Ninth Circuit panel held that Kalshi's sports event contracts are bets rather than swaps, directly contradicting the Third Circuit's April decision. The CFTC says only the Supreme Court can settle it now.
The rewrite starts a fresh rulemaking after the agency withdrew its 2023 safeguarding proposal. Until then, US institutional crypto custody runs on a staff letter with no legal force.
OFAC's digital assets determination sits alongside four others under Executive Order 13902, and landed with nearly 60 designations including a UAE-based broker Treasury says moved over $100 million in crypto for the Qods Force.
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.
None of them ever signed up for Binance. A Florida judge sent them to arbitration anyway. On appeal, the Eleventh Circuit found the district court had 'misread the complaints' and freed the plaintiffs to sue in federal court.
