Regulatory Policy

Focuses on global regulatory developments, policy changes, and compliance requirements. It provides in-depth analysis of government regulations and their impact on the cryptocurrency and blockchain industries, helping businesses and investors proactively manage policy-related risks.

Who Controls the Profit Rights of Digital Dollars? The Wall Street vs. Crypto Capital Game Behind the CLARITY Act

The CLARITY Act represents a pivotal U.S. legislative effort to regulate digital assets, moving beyond the infrastructure-focused GENIUS Act. It aims to end "regulation by enforcement" by granting the CFTC exclusive jurisdiction over digital commodities and the SEC over investment contracts. A major conflict emerged in the Senate over "yield-bearing stablecoins." Traditional banks, fearing massive deposit outflows and damage to their net interest margins, lobbied for a total ban on third-party stablecoin yields. The crypto industry, led by Coinbase, argued this would stifle innovation, deprive users of rightful earnings from underlying assets like Treasuries, and drive capital offshore. The debate reached a stalemate in early 2026, stalling the bill's progress. White House mediation set a March 1 deadline for a compromise. A proposed solution, the "Digital Markets Restructure Act," introduced a "Yield Neutrality" principle, decoupling yield rights from bank charters, and a "Residual-Risk Assessment Model" to regulate based on actual risk (enterprise, exposure, market) rather than outdated classifications. The outcome will profoundly impact the U.S. financial system: potentially deepening demand for U.S. Treasuries, lowering government borrowing costs, and extending dollar hegemony digitally. It forces traditional banks to digitize and could cause a major schism in DeFi, pushing compliant players toward institutionalization and smaller, non-compliant protocols offshore. The act ultimately decides who controls the profits of the digital dollar.

marsbit02/22 05:34

Who Controls the Profit Rights of Digital Dollars? The Wall Street vs. Crypto Capital Game Behind the CLARITY Act

marsbit02/22 05:34

Crypto Markets Stay Calm As US Supreme Court Rules Against Trump’s Tariffs — Here’s Why

The crypto market remains in a bearish trend, with a 12% drop in February and a 44.5% decline since October 2025. Despite the US Supreme Court ruling against Trump’s tariffs as illegal under IEEPA, the crypto space showed little reaction. Analysts note that any potential impact depends on liquidity shifts, which hinge on the implementation of the court’s decision. Refunds estimated between $40 billion and $170 billion could improve corporate liquidity and risk appetite but may also raise fiscal concerns. Bitcoin, being highly sensitive to liquidity changes, did not experience immediate price movement. Investors are advised to monitor ETF flows, stablecoin movements, and exchange activity. The total crypto market cap stands at $2.33 trillion.

bitcoinist02/22 03:02

Crypto Markets Stay Calm As US Supreme Court Rules Against Trump’s Tariffs — Here’s Why

bitcoinist02/22 03:02

From 'Punishment' to 'Acceptance': SEC's 2% Discount Tears Open Compliance Gap for Stablecoins

This article discusses a significant policy shift by the U.S. SEC regarding the capital treatment of payment stablecoins held by broker-dealers. On February 19, the SEC’s Division of Trading and Markets issued new guidance allowing broker-dealers to apply a 2% discount—rather than a punitive 100% haircut—to certain stablecoin holdings when calculating net capital requirements. This change aligns stablecoins with money market funds and other low-risk assets, making it financially viable for regulated entities to hold and use them. The move is seen as a major step toward integrating digital assets into mainstream finance. It follows the passage of the GENIUS Act in July 2025, which established a federal regulatory framework for payment stablecoins. The SEC’s guidance is designed to bridge the gap between existing rules and the new law, enabling broker-dealers to use stablecoins for settlement, trading, and tokenized securities without excessive capital penalties. The author highlights that this shift is part of a broader effort by the SEC to move away from enforcement-heavy regulation under former Chair Gary Gensler and toward a more structured, inclusive approach. The change is expected to encourage more institutional participation, improve liquidity, and support the use of stablecoins in cross-border payments and financial inclusion. However, challenges remain, including ongoing tensions between federal and state regulators and pending legislation to clarify the classification of digital assets. The 2% discount symbolizes a meaningful step toward recognizing stablecoins as legitimate financial tools within the U.S. regulatory system.

比推02/21 15:34

From 'Punishment' to 'Acceptance': SEC's 2% Discount Tears Open Compliance Gap for Stablecoins

比推02/21 15:34

Crypto Market Structure Bill Nears Finish Line, Says White House Digital Asset Director

Negotiations over the CLARITY Act, a market structure bill for crypto, advanced during a third White House meeting. Patrick Witt, the White House Digital Asset Director, described progress as significant and expressed optimism about meeting the deadline. The meeting included crypto industry reps from firms like Coinbase and Ripple, while banks were represented by trade associations. The White House took a more assertive role, introducing draft text that addressed banking concerns. A key point is that paying yield on idle stablecoin balances is off the table, shifting the debate to rewards for specific activities. The draft includes strong anti-evasion measures with potential daily penalties of $500,000 per violation. Banks continue to push for a study on deposit outflows. Further talks are expected as both sides work toward a compromise.

bitcoinist02/21 15:01

Crypto Market Structure Bill Nears Finish Line, Says White House Digital Asset Director

bitcoinist02/21 15:01

ProShares’ stablecoin-ready ETF posts ‘insane’ $17B trading debut

ProShares' GENIUS Money Market ETF (IQMM) shattered records with an "insane" $17 billion in first-day trading volume, far surpassing the debut of major Bitcoin ETFs. The fund, designed to hold assets compliant with the proposed U.S. stablecoin (GENIUS Act) regulations, is intended for use as reserves by stablecoin issuers. While speculation suggested a major issuer like Circle could be behind the volume, it was clarified the initial funding came from internal ProShares funds for cash management. Separately, the stablecoin sector received a significant regulatory boost as the SEC reduced its capital "haircut" on stablecoin holdings from 100% to 2%, a move hailed by Circle's CEO as a major win that will foster greater adoption in capital markets.

ambcrypto02/21 14:01

ProShares’ stablecoin-ready ETF posts ‘insane’ $17B trading debut

ambcrypto02/21 14:01

Stablecoin Yield ‘Effectively Off The Table’: White House Narrows Rewards Debate In Latest Meeting

The White House took a more active role in the latest meeting between the crypto industry and banking sector to resolve the stablecoin yield dispute that has stalled the CLARITY Act. The meeting included representatives from Coinbase, Ripple, a16z, and crypto trade associations, while banks were represented through their industry groups. The White House presented a draft text addressing banking concerns, effectively ruling out earning yield on idle stablecoin balances. The debate now focuses on whether crypto firms can offer rewards linked to specific activities. Banking representatives argued that competitive pressures, rather than deposit flight, are their main concern. The White House also proposed anti-evasion measures, including significant penalties for violations. Further discussions are expected as both sides assess potential compromises.

bitcoinist02/21 13:02

Stablecoin Yield ‘Effectively Off The Table’: White House Narrows Rewards Debate In Latest Meeting

bitcoinist02/21 13:02

Dutch Regulator Orders Polymarket to Halt Betting Services

The Netherlands Gambling Authority has ordered Polymarket's Dutch affiliate, Adventure One, to immediately halt its unlicensed betting services in the country. The platform, which allowed users to place bets on events like local elections, faces potential fines of up to $990,000 for non-compliance. This action highlights the regulatory clash surrounding prediction markets, which offer wagers not permitted under Dutch law, even for licensed operators. The enforcement occurs amid broader debates on digital asset regulations in the Netherlands, including a proposed capital gains tax on cryptocurrencies. This case underscores the ongoing tension between rapidly growing prediction markets and national gambling frameworks across various jurisdictions.

TheNewsCrypto02/21 12:32

Dutch Regulator Orders Polymarket to Halt Betting Services

TheNewsCrypto02/21 12:32

Basel Banking Standards Vs Bitcoin: Strategy CEO Blasts 1,250% Risk Weight

Strategy CEO Phong Le and other industry experts are criticizing the Basel banking standards' treatment of Bitcoin, which assigns it a 1,250% risk weight. This classification makes it prohibitively expensive for regulated banks to hold or custody Bitcoin, as they must set aside $1 in capital for every $1 of exposure. In contrast, assets like cash, physical gold, and U.S. Treasuries carry a 0% risk weight. Critics argue this is a major policy error that misprices risk, discourages bank involvement in digital assets, and pushes activity toward riskier non-bank or offshore entities. They call for a review of these rules, especially if the U.S. aims to become a global crypto leader.

bitcoinist02/21 09:02

Basel Banking Standards Vs Bitcoin: Strategy CEO Blasts 1,250% Risk Weight

bitcoinist02/21 09:02

Pakistan launches crypto sandbox to advance regulation plans: Details

Pakistan has officially launched a crypto regulatory sandbox to advance its digital asset regulation plans. The Pakistan Virtual Assets Regulatory Authority (PVARA) will soon issue full guidelines for participants. The sandbox allows live testing of use cases like tokenization, stablecoins, and remittances under regulatory oversight. This initiative is part of Pakistan’s broader strategy to provide regulatory clarity, leveraging advice from Binance founder Changpeng Zhao. The country ranks high in global crypto adoption, and recent partnerships, including with World Liberty Financial, aim to explore stablecoins for cross-border transactions. PVARA has begun issuing No Objection Certificates as a step toward full licensing, with the sandbox helping identify compliance and anti-money laundering risks before the full framework rollout.

ambcrypto02/21 06:32

Pakistan launches crypto sandbox to advance regulation plans: Details

ambcrypto02/21 06:32

The 'Stablecoin Revolution' on the Balance Sheet: SEC Uses a '2% Discount' to Tear Open a Gap for Digital Asset Compliance

In a significant move toward integrating digital assets into mainstream finance, the U.S. SEC’s Division of Trading and Markets issued new guidance on February 19, allowing broker-dealers to apply a 2% discount—rather than a punitive 100% haircut—to certain payment stablecoins when calculating net capital reserves. This adjustment, announced via a statement by SEC Crypto Hub Chair Hester Peirce, aligns the regulatory treatment of qualifying stablecoins with that of money market funds and other low-risk instruments. The decision aims to remove operational and financial barriers for regulated intermediaries holding stablecoins, which serve as critical infrastructure for on-chain transactions, settlements, and tokenized securities. The guidance bridges current state-level frameworks with the forthcoming federal standards under the GENIUS Act—signed into law in July 2025—which establishes a comprehensive regulatory regime for payment stablecoins. This shift is part of a broader effort by the SEC to move away from enforcement-heavy oversight under former leadership and toward clearer, more accommodating rules. The change may encourage more broker-dealers, banks, and trading platforms to engage with digital assets, thereby expanding access to stablecoin-based services for consumers through regulated channels rather than offshore platforms. While challenges remain—including state-federal regulatory coordination and pending market structure legislation—the 2% discount symbolizes a meaningful step in recognizing stablecoins as legitimate financial tools within the U.S. securities regulatory system.

Odaily星球日报02/21 06:20

The 'Stablecoin Revolution' on the Balance Sheet: SEC Uses a '2% Discount' to Tear Open a Gap for Digital Asset Compliance