Regulatory Policy

US Senate confirms pro-crypto Selig to lead CFTC, Hill for FDIC

The US Senate confirmed crypto-friendly lawyer Mike Selig as the new chair of the CFTC and elevated Travis Hill to lead the FDIC as part of a broader nomination package. Selig, who has prior regulatory experience, pledged to prioritize crypto oversight. Hill, who had been acting FDIC chair, has also expressed support for the industry. The CFTC may gain more direct authority over crypto markets through pending legislation, while the FDIC will play a key role in stablecoin regulation and banking access. Selig will serve until 2029, and Hill until 2030. Industry representatives from Coinbase and the Digital Chamber welcomed the appointments, expecting fair and clear regulation.

cointelegraph12/19 05:02

Full Text of Bank of Japan Statement: 25 Basis Point Rate Hike, Further Adjustments Considered

The Bank of Japan (BOJ) raised its benchmark interest rate by 25 basis points from 0.5% to 0.75% on December 19, marking the first rate hike in 11 months and bringing the rate to its highest level in 30 years. The decision was unanimously approved by the policy board. The central bank will guide the unsecured overnight call rate to around 0.75%. The rate for the complementary deposit facility was set at 0.75%, and the basic loan rate was set at 1.0%. The BOJ stated that the Japanese economy is recovering moderately, though some weaknesses remain. It expressed high confidence that companies will continue to raise wages steadily, sustaining a positive cycle of wage and price increases. Core CPI inflation continues to rise moderately as firms pass on higher labor costs. The BOJ judged that an adjustment to its monetary easing was appropriate to achieve its 2% price stability target sustainably. It noted that financial conditions remain accommodative and will continue to support economic activity. Looking ahead, the BOJ signaled it will continue to adjust the degree of monetary easing and raise policy rates further as economic activity and prices improve, provided the outlook materializes. Key risks to the outlook include the impact of overseas trade policies, domestic corporate wage and price-setting behavior, and developments in financial and foreign exchange markets.

深潮12/19 03:42

SEC flags Bitcoin miner hosting services as subject to securities laws

The US Securities and Exchange Commission (SEC) has filed a lawsuit against Bitcoin mining firm VBit and its founder, Danh Vo, alleging fraud and misappropriation of approximately $48 million in investor funds. The SEC claims that VBit’s third-party mining agreements qualify as securities under the Howey test, arguing that purchasers expected passive income and relied entirely on VBit’s efforts for profits. The agency also accused VBit of operating outside industry standards by pooling hashrate under its control and failing to provide transparency to investors. However, industry experts, such as Blockware Intelligence’s Mitchell Askew, argue that legitimate hosted mining services—where clients buy hardware and electricity without profit-sharing or pooled capital—do not constitute securities. The case reflects lingering enforcement approaches from the Biden administration, though the SEC under Trump has been perceived as more industry-friendly. The outcome may not broadly impact the hosted mining sector, as legitimate operations are considered distinct from investment contracts.

cointelegraph12/19 03:25

From Doubao Dispute to Big Tech Game: Decoding the Legal Compliance Dilemma of AI Phones

"From Doubao Controversy to Tech Giant Standoff: Decoding the Legal Compliance Dilemma of AI Phones" A recent user experience with AI-powered smartphones has triggered significant tension between AI developers and major internet platforms. Certain phones equipped with AI assistants, when attempting to perform automated actions like sending WeChat red packets or placing e-commerce orders via voice commands, were flagged by platforms for "suspected use of third-party plugins," leading to risk warnings and even account restrictions. This incident, while appearing to be a technical compatibility issue, reveals a deeper structural conflict over "who has the right to operate the phone and control user access." On one side are smartphone manufacturers and AI teams aiming to deeply integrate AI into operating systems for "seamless interaction." On the other are internet platforms whose business models rely on controlling app entry points, user pathways, and data ecosystems. This clash represents a fundamental challenge to the "walled garden" business model central to platforms like Tencent and Alibaba. The system-level AI assistant threatens this model in three key ways: it bypasses the need to click app icons (undermining ad revenue and user attention economies), potentially accesses platform data and content without formal interfaces (a "free-riding" concern), and shifts the role of "gatekeeper" for traffic distribution away from the super apps themselves. From a legal perspective, this conflict highlights four major risk areas: 1. **Competition Law:** AI's "simulated clicks" could be deemed unauthorized interference with software operation, potentially constituting unfair competition if they skip ads or bypass verification steps. 2. **Data Security:** For the AI to "see" screen content and execute commands, it processes sensitive personal data (chats, account info), raising significant questions under China's Personal Information Protection Law regarding valid user consent and the "minimum necessity" principle. 3. **Antitrust Issues:** Future disputes may center on whether dominant platforms, arguably essential facilities, can justifiably refuse AI access, or if such refusal constitutes an abuse of market power that stifles innovation. 4. **User Liability:** Questions arise regarding who is responsible if the AI makes an error (e.g., buys the wrong product) or if a user's account is suspended due to AI activity, potentially leading to consumer claims against phone manufacturers. This friction underscores a transition from an app-centric internet to an AI-agent-driven experience. The current legal framework struggles to address the integration of general AI. The sustainable solution likely lies not in technical workarounds like "simulated clicks," but in developing standardized protocols for AI interaction, balancing innovation with clear legal and compliance boundaries.

深潮12/19 03:15

Digital Wallets Surge, While Regulators Play Catch-Up'

Digital wallets are rapidly evolving beyond simple payment tools to encompass lending, investments, crypto assets, digital IDs, and virtual cards, while regulators struggle to keep pace with outdated rules. In the U.S., PayPal (32%), Cash App (25%), and Apple Pay (20%) lead the market, with 77% of adults using at least one major wallet. The CFPB attempted to impose stricter oversight on large non-bank payment providers like Google, Apple, and PayPal through a 2023 proposal, but it was overturned by Congress and President Trump in 2025. Despite this, digital wallets remain subject to a complex web of state and federal regulations, including money transmission licensing, Reg E, UDAAP rules, and FinCEN requirements. Experts warn that inconsistent enforcement and expanding wallet functionalities create compliance challenges, and a loss of consumer trust could trigger renewed regulatory pressure. Key issues include unclear user protections, reliance on banking partners, and potential state-level enforcement if federal oversight weakens.

marsbit12/19 03:08

Crypto Treasury Firms Face $15B Selling Pressure From MSCI Decision

Analysts estimate that passive funds could pull between $10 billion and $15 billion from companies holding significant crypto assets if MSCI proceeds with a proposed rule change. The index provider is reviewing a policy to exclude firms holding over 50% of their assets in digital currencies from its benchmarks, a decision expected by January 2026. If enacted, index-tracking funds would be forced to sell shares of affected companies. JPMorgan analysis singles out MicroStrategy as the most impacted, potentially facing $2.8 billion in outflows. Beyond stock sales, there is a risk the companies themselves might liquidate crypto holdings, adding direct selling pressure to both equity and crypto markets. Industry groups are pushing back against the proposal, arguing for an operations-based classification instead.

bitcoinist12/19 01:03

Solana Price Could Crash Below $5 – The Document That Has Taken The Community By Storm

A crypto analyst known as 'NoLimit' has issued a severe warning that Solana (SOL) could crash below $5, a 95.9% decline from its current $122 price. This prediction is based on an analysis of a US federal court case allowing a class action lawsuit to proceed against Solana Labs, Pump.fun, and other ecosystem players. The lawsuit alleges that Solana's infrastructure gives insiders an unfair advantage in meme coin launches, enabling them to buy tokens faster and cheaper, leading to market manipulation and significant losses for retail investors. The analyst warns that if the court finds these activities constitute unregistered securities or unfair practices, it could shatter institutional trust. With nearly half of SOL's supply held by insiders and VCs, a loss of confidence could trigger a mass sell-off, potentially leading to the collapse of the cryptocurrency, similar to past failures like FTX and Luna.

bitcoinist12/18 23:02

Crypto CLARITY Act set for Senate markup in January, says Sacks

The long-awaited Crypto CLARITY Act is set for a Senate markup in January, according to White House AI and crypto czar David Sacks. Senate Banking Committee Chair Tim Scott and Agriculture Committee Chair John Boozman confirmed the bipartisan bill will advance next month. The legislation aims to define crypto securities and commodities, clarify regulatory roles between the SEC and CFTC, and reduce uncertainty for crypto firms. Supporters say it will establish clearer compliance pathways, encourage innovation, and strengthen investor protections. Work on the bill continued during the recent government shutdown, with regulators meeting executives from major crypto companies and venture firms.

cointelegraph12/18 22:33

Federal Reserve Withdraws Crypto Rules, Banks Get More Freedom

bitcoinist12/18 22:01

Coinbase appoints ex-UK finance minister George Osborne to chair advisory council

Coinbase, the largest US-based cryptocurrency exchange, has appointed former UK finance minister George Osborne as the chair of its advisory council. Osborne, who has been an advisor since 2024, views this as an opportunity to learn more about the blockchain revolution and its potential for broadening financial inclusion. His appointment is part of Coinbase's strategy to expand its global influence with foreign governments. Osborne has previously criticized the UK for lagging in crypto regulation and stablecoin development, warning that the British pound risks irrelevance against dominant US dollar-backed stablecoins. This move coincides with Coinbase's broader expansion, including recent acquisitions and new product offerings like tokenized stock trading, prediction markets, and planned perpetual futures contracts, as it aims to become a comprehensive financial services "everything app."

cointelegraph12/18 22:00