Regulatory Policy

CEOs Of Leading Banks To Discuss Crypto Market Structure With US Senators This Week

Following the recent GENIUS Act, attention has shifted to the CLARITY Act, a crypto market structure bill facing delays due to government shutdowns and congressional disagreements. This week, CEOs from Citigroup, Wells Fargo, and Bank of America are scheduled to meet with bipartisan senators to discuss key issues, including bank permissibility, interest payments, and illicit finance concerns. The Senate faces challenges in advancing the bill, with unresolved ethics and quorum language from the White House and complications from its division between the Banking and Agriculture committees. Key concerns include stablecoin yields, conflicts of interest, and DeFi regulation. Some Democrats demand provisions addressing potential conflicts related to the President's family's crypto involvements. A markup session is tentatively scheduled for mid-December.

bitcoinist12/09 20:41

How prediction markets raise insider trading and credit risks

Prediction markets like Kalshi and Polymarket are experiencing significant growth, with billions in trading volume, but face scrutiny over ethical and financial risks. Concerns include insider trading, as seen in a manipulated map edit during the Russo-Ukrainian War that influenced a Polymarket bet resolution, and wash trading, which comprised up to 60% of volume on Polymarket. Regulators, including the CFTC, have granted some approvals, but states are challenging these platforms over gambling classifications. Analysts warn that easy access and gamified interfaces could lead to credit overextension and loan defaults, introducing new risks for lenders and consumers.

cointelegraph12/09 20:23

Bull vs. Bear Debate: Is the Profit Moat of Stablecoin Leader CRCL Solid?

The article presents a heated debate surrounding Circle (NYSE: CRCL), the issuer of the stablecoin USDC, focusing on the sustainability of its business model following its IPO and Q3 2025 earnings report. Key bearish points, led by figures like Jiang Zhuo'er, argue that CRCL's profits are unsustainable. They compare it to a bank reliant on an interest rate spread, which is highly vulnerable to Federal Reserve rate cuts. Critics highlight that over 60% of profits are paid to distributor Coinbase, leaving CRCL with a thin margin. They warn that competition from traditional financial giants like JPMorgan could easily disrupt its model, and that its regulatory advantage is a temporary benefit, not a permanent moat. Bullish commentators, including @BTCdayu and @qinbafrank, counter that CRCL is a long-term infrastructure play, not a simple bank. They believe current profit-sharing is a strategic cost to achieve market dominance and network effects, similar to companies like Amazon in their early days. They argue that future growth from massive USDC adoption (potentially reaching trillions) will far outweigh the impact of falling interest rates. They see compliance as a powerful, long-term moat that will eliminate smaller competitors. Additional short-term concerns include a significant sell-off pressure from the post-IPO lockup expiration and a structural barrier to USDC's use in U.S. retail payments due to its classification as a taxable asset. In summary, the debate pits short-term cyclical risks (interest rates, high costs, sell pressure) against a long-term structural opportunity (market growth, network effects, compliance as a barrier to entry). The core question remains whether CRCL's current model is a fragile interest-rate play or a foundational bet on the future of digital currency.

比推12/09 20:19

U.S. banks can now broker Bitcoin, Ethereum, XRP, and Solana trades — officially!

ambcrypto12/09 20:16

Behind Cryptocurrency 'Thefts and Scams': Why Does Civil Relief Frequently Encounter Obstacles?

Behind the surge in cryptocurrency "thefts and scams", why does civil relief frequently hit roadblocks? This article explores the legal challenges through two representative cases. In Case 1, a company paid 800,000 USDT to a Chinese employee of an overseas exchange for a listing service, only to have the employee disappear. Despite cross-border complexities and initial police refusal to accept the report (citing the company’s foreign status and claims that crypto "is not protected by law"), lawyers eventually secured case acceptance by invoking criminal procedure rules and citing regulatory recognition of virtual assets as property. However, formal立案 (case filing) is still pending. Case 2 involved a woman scammed into transferring over RMB 3 million to a USDT exchanger for a fake investment. While police quickly arrested the exchanger, the main scammer remained abroad. The exchanger was released due to lack of criminal intent, and a civil lawsuit against them for unjust enrichment was rejected at filing. The judge indicated that even if accepted, such cases rarely succeed. The analysis highlights key obstacles: the "criminal procedure takes precedence" principle often blocks civil suits until criminal proceedings conclude; if a criminal judgment orders restitution, further civil claims are barred; and bypassing criminal reporting to file civilly usually results in the case being referred back to police, wasting time. Ultimately, when crypto crimes are involved, civil relief is extremely difficult. The more viable path remains criminal prosecution, despite its own challenges, as civil victories are exceptionally rare in practice.

marsbit12/09 19:39

BlackRock expands Ethereum strategy with new staking ETF – Details

BlackRock has filed for a new iShares Staked Ethereum Trust ETF, expanding its crypto strategy beyond price speculation to include staking rewards. This marks a significant shift in institutional crypto adoption, focusing on yield-generation through Ethereum's proof-of-stake mechanism. The move coincides with a perceived softening in the SEC’s stance on staking under new leadership, following earlier restrictions. The new ETF will exist alongside BlackRock’s existing $11 billion Ethereum fund. On-chain activity shows institutions like Amber Group and Bitmine are accumulating ETH, signaling strong demand and potential market momentum.

ambcrypto12/09 19:08

From Hydra to A7A5: Russia's $376.3 Billion On-Chain Undercurrent Is Reshaping the Global Financial Map

From Hydra to A7A5: Russia’s $376.3 Billion On-Chain Underground Reshapes Global Finance Amid Western financial sanctions, Russia has developed a massive underground crypto economy. In 2024-2025, Russia received $376.3 billion in crypto assets, the highest in Europe. Stablecoins like USDT have become essential for daily transactions, trade settlements, and capital flight. The ecosystem includes OTC dealers in Telegram groups, local exchanges like Garantex—which continues operating despite sanctions—and a growing Bitcoin mining sector that accounts for 16% of global hash rate. A new “ruble-backed” stablecoin, A7A5, issued via Kyrgyzstan with ties to a sanctioned Russian bank, has also emerged as a tool for evasion. Crypto in Russia is not a speculative asset but a critical infrastructure: it enables import payments, protects savings from ruble volatility, facilitates gray/black market activities, and acts as a form of digital energy export through mining. This parallel system highlights how geopolitical isolation has accelerated the adoption of crypto as a pragmatic, albeit inefficient, financial lifeline.

marsbit12/09 18:59

UK crypto lobbying group joins Digital Chamber in cross-border policy push

CryptoUK, a UK cryptocurrency trade association, has joined The Digital Chamber, a US-based crypto policy advocacy group, to form a unified cross-border platform for digital asset regulation. This collaboration aligns with ongoing efforts in both countries to advance crypto-friendly policies. The partnership emerges as US lawmakers negotiate a digital asset market structure bill, while UK and US policymakers explore joint regulatory approaches. Separately, the Bank of England has proposed a framework for systemic stablecoins, partly in response to US regulatory developments, emphasizing the importance of international synchronization.

cointelegraph12/09 18:58

Senator Lummis anticipates crypto market structure markup next week

Senator Cynthia Lummis, a key proponent of crypto legislation, expects a markup hearing for the Responsible Financial Innovation Act to occur next week before the congressional holiday break. She acknowledged industry concerns over the bill's slow progress, citing extensive bipartisan negotiations and frequent revisions. A final draft is expected by the end of this week for review by both industry and lawmakers. The bill aims to provide regulatory clarity and would grant the CFTC greater authority over digital assets, shifting oversight from the SEC. Despite optimism, political challenges and upcoming midterm elections could still delay its passage.

cointelegraph12/09 16:40

"Pause, Not a Reversal": When Bitcoin Will Break the Lull

The article "Pause, Not a Reversal": When Bitcoin Will Break the Lull" discusses the current state of the cryptocurrency market, which is in a holding pattern ahead of key macroeconomic decisions. According to analysts from Wintermute, the market's attention is focused on upcoming interest rate decisions from the US Federal Reserve (December 10) and the Bank of Japan (December 19). The recent price action is seen as a pause rather than a trend reversal, with liquidity concentrating in Bitcoin and Ethereum. The potential for the Fed to cut rates could improve the investment climate, while concerns exist that the Bank of Japan may raise its rate again, which could cause market stress given Japan's status as a major holder of US debt. Trading volumes have fallen by up to 30% since October, attributed to a shift away from speculative altcoins towards fixed-income instruments. Market expectations for Bitcoin's price by year-end are split between $85,000 and $100,000. The report concludes that in the absence of macroeconomic surprises, cryptocurrency volatility will be driven more by liquidity flows than by fundamental factors.

RBK-crypto12/09 16:14