# Сопутствующие статьи по теме Regulation

Новостной центр HTX предлагает последние статьи и углубленный анализ по "Regulation", охватывающие рыночные тренды, новости проектов, развитие технологий и политику регулирования в криптоиндустрии.

Crypto’s CLARITY Act May Miss 2026 Window Without April Action

Reports indicate the CLARITY Act, a key crypto regulation bill, may miss its 2026 legislative window without committee approval by the end of April. Analysts warn that failure to advance by then could delay passage until 2027 or later. The bill faces significant hurdles, including tight Senate scheduling and deep divisions between banks and crypto firms over stablecoin rewards. Compromise is needed, but lawmakers acknowledge neither side will be fully satisfied. Political priorities and limited floor time further complicate its progress. If delayed, the legislation could extend into the next congressional session or require reworking under new leadership, impacting crypto market structure and stablecoin regulation.

bitcoinist03/16 10:53

Crypto’s CLARITY Act May Miss 2026 Window Without April Action

bitcoinist03/16 10:53

The Endgame of Stablecoins Is a Financial Empire

Tether, the company behind the dominant stablecoin USDT, is aggressively expanding its influence and business operations globally, particularly targeting the US market. With over $100 billion in profits last year and a vast portfolio of investments, Tether is positioning itself as a hybrid of Google and BlackRock in the crypto-financial world. It has moved its global headquarters to El Salvador and is now launching a US-compliant stablecoin, increasing lobbying efforts in Washington, and seeking a valuation of $500 billion. Despite past regulatory scrutiny and ongoing concerns about its use in illicit activities—including by Iran’s Revolutionary Guard—Tether claims to cooperate with global law enforcement and has frozen billions at the request of authorities. The company is also expanding into traditional sectors like commodities, AI, and media, while remaining one of the largest holders of US Treasury bills. Tether’s CEO Paolo Ardoino envisions the company playing a central role in both a potential dollar collapse scenario and a future where the dollar remains dominant. However, the firm still faces transparency challenges, including the lack of a full audit, though it aims to complete one by late 2026. With strong political connections and growing institutional backing, Tether is increasingly intertwined with both crypto and traditional finance.

marsbit03/16 07:58

The Endgame of Stablecoins Is a Financial Empire

marsbit03/16 07:58

The Earliest Regulator to Study Bitcoin: How Did He Step into the Crypto World?

An article titled "How Did the Earliest Regulator Studying Bitcoin Step into the Crypto World?" profiles Mark Wetjen, a former U.S. financial regulator who transitioned into the crypto industry. Wetjen served as a policy advisor in the U.S. Senate, was appointed by President Obama as a commissioner of the CFTC, and even acted as its acting chairman in 2014. During his tenure, he led the first formal U.S. regulatory hearing on digital assets and approved the first Bitcoin derivatives product on a regulated platform. After nearly two decades in traditional finance and regulation, including roles at DTCC and MIAX Futures, Wetjen moved into crypto, joining FTX US before becoming President of Backpack US. He now oversees U.S. operations, regulatory engagement, and business development for the Backpack exchange. Wetjen believes that long-term success in crypto depends on trust and compliance, not just technical features or liquidity. He views Backpack as a platform built with compliance at its core, noting its regulatory approvals in Dubai (VASP license) and Europe (MiFID II authorization), with the U.S. as a key next market. The article frames Wetjen’s career as a bridge between crypto innovation and regulatory frameworks, highlighting a shift from early regulatory skepticism to constructive engagement within the industry.

marsbit03/16 06:10

The Earliest Regulator to Study Bitcoin: How Did He Step into the Crypto World?

marsbit03/16 06:10

The Earliest Regulator to Study Bitcoin: How Did He Step into the Crypto World?

This article explores the journey of Mark Wetjen, a former U.S. regulator who transitioned into the cryptocurrency industry. As a policy advisor in the U.S. Senate and later a commissioner and acting chairman of the CFTC, Wetjen was an early advocate for Bitcoin regulation, leading the first U.S. regulatory hearing on digital assets and approving the first regulated Bitcoin derivatives product. After his tenure in government, he worked in traditional finance infrastructure and later joined FTX US to handle policy and regulatory affairs. He is now President of Backpack US, where he is leading the platform’s expansion into the U.S. market. Wetjen believes that long-term success in crypto depends on trust and compliance, not just technical innovation. He sees Backpack as a company that embeds regulatory compliance into its core design rather than treating it as an afterthought. Under his leadership, Backpack is pursuing a deliberate global compliance strategy, with licenses already secured in Dubai and Europe. Wetjen argues that in the future, the most important competitive advantage for crypto exchanges will be trust—built through consistent compliance, user safety, and the ability to bridge traditional finance with the crypto ecosystem.

Odaily星球日报03/16 06:05

The Earliest Regulator to Study Bitcoin: How Did He Step into the Crypto World?

Odaily星球日报03/16 06:05

Code Is Getting Cheaper, Licenses Are Getting More Valuable: The Real Moat of Fintech in the AI Era

"The article argues that in the AI era, code is becoming cheaper, but true competitive advantages in Fintech come from hard-to-replicate elements like banking licenses, underwriting data from credit losses, and proprietary risk models trained on real transaction volumes. While traditional software companies face compressed margins as AI lowers both development and distribution costs, Fintech's real moats lie in regulatory compliance, risk management, and data accumulation—areas where AI actually strengthens incumbents. Companies that own the "fin" side (licenses, risk-bearing, proprietary data) will benefit from AI, while those relying solely on "tech" (software interfaces built atop others' infrastructure) will suffer from eroding differentiation. The new arbitrage is no longer about applying software valuations to financial economics, but about owning the foundational elements of finance itself."

marsbit03/16 04:56

Code Is Getting Cheaper, Licenses Are Getting More Valuable: The Real Moat of Fintech in the AI Era

marsbit03/16 04:56

The $90 Billion On-Chain Lending Market: Why Haven't Institutions Entered Yet?

Despite reaching a historic high of $90 billion in Q4 2025, institutional capital accounts for only 11.5% of the total value locked in DeFi lending. While regulatory barriers are gradually being addressed, the primary obstacles to institutional adoption are the lack of risk isolation infrastructure, fixed-rate instruments, and compliance-integrated tools. Key innovations are emerging to bridge this gap: Aave V4 introduces a hub-and-spoke model for shared liquidity with isolated risk parameters; Morpho enables delegated risk curation through professional managers; Pendle splits yield assets into fixed and variable components to offer predictable returns; and Maple Finance diversifies yield sources and plans to introduce structured, tranched credit products. These developments are rebuilding traditional finance risk primitives—such as risk separation, curation, and fixed rates—in a programmable, transparent, and composable on-chain format. The evolution of this infrastructure is critical to attracting the next wave of institutional capital into DeFi lending.

marsbit03/16 04:35

The $90 Billion On-Chain Lending Market: Why Haven't Institutions Entered Yet?

marsbit03/16 04:35

U.S. Tax Collection Reaches Wallet Exchanges from 6 Years Ago? Four-Layer Breakdown of the IRS's New Form

The U.S. IRS has introduced a new audit form requiring taxpayers to disclose all digital asset platforms, wallets, and services used, including exchanges like Coinbase, Binance, and defunct entities like FTX, as well as self-custody wallets such as MetaMask and Ledger. This form, part of a broader tax enforcement strategy, mandates detailed account information and transaction history, with penalties for false declarations under perjury laws. This move is not sudden but results from years of regulatory evolution, starting with the 2017 John Doe subpoena to Coinbase, which compelled the exchange to share user data. The 2021 Infrastructure Investment and Jobs Act further classified crypto exchanges as "brokers," requiring them to report user data via Form 1099-DA starting in 2025. The IRS employs a four-layer data approach: exchange reports, traditional financial records, blockchain analysis, and audit questionnaires. While centralized exchanges remain key data sources due to KYC requirements, the focus may shift to on-chain protocols like Hyperliquid, where transactions are transparent but identity linkage is weaker. The IRS typically audits up to three years prior, extendable to six for significant underreporting. High-risk groups include those who reported minimal crypto activity despite acknowledging it, discrepancies in 1099-DA forms, and high-frequency traders during the 2017-2021 bull market. Tax professionals advise consulting experts before responding to audits. Globally, tax authorities like the UK's HMRC and Australia's ATO are also tightening crypto tax reporting, signaling a broader regulatory trend.

Odaily星球日报03/16 02:52

U.S. Tax Collection Reaches Wallet Exchanges from 6 Years Ago? Four-Layer Breakdown of the IRS's New Form

Odaily星球日报03/16 02:52

80% of Tokens Fall Below Issue Price, IPO Financing Soars 48 Times—Crypto Capital Shift Has Occurred

The crypto industry is witnessing a significant capital shift from token offerings to traditional equity markets. In 2025, over 80% of tokens traded below their initial offering price due to high volatility, weak demand, and poor tokenomics, eroding investor confidence. Conversely, crypto IPOs surged 48x, raising $14.6 billion, while M&A activity hit a five-year high of $42.5 billion. Equity offerings, compared to tokens, demonstrate similar upside potential but with lower volatility and longer-term growth. Stocks command higher valuation premiums (P/S ratios of 7-40x vs. 2-16x for tokens) due to institutional access, index inclusion potential, and richer trading strategies. Key valuation factors include regulatory moats, revenue diversification, and sector sentiment. M&A activity is accelerating, driven by regulatory compliance and strategic expansion, with focus on trading infrastructure, exchanges, and stablecoins/payments. Major acquisitions were led by Coinbase, Kraken, and Ripple. Upcoming IPOs in 2026 include Kraken, Consensys, Ledger, Animoca, and Bithumb. The future lies in blending TradFi validation with crypto innovation, emphasizing sustainable revenue and long-term value creation.

marsbit03/15 07:55

80% of Tokens Fall Below Issue Price, IPO Financing Soars 48 Times—Crypto Capital Shift Has Occurred

marsbit03/15 07:55

Which Areas Still Have Moats in the AI Era?

In the AI era, certain moats remain despite rapid technological advancement. The author, a former hedge fund manager, argues that the true inflection point occurred when AI models like ChatGPT’s o1 began generating functional code—even with imperfections—enabling recursive self-optimization and fundamentally altering software development. Key short-term moats identified include: 1. **Proprietary Data**: Firms with unique, inaccessible data (e.g., multi-strategy hedge funds) can fine-tune models, creating defensible advantages. 2. **Regulatory Friction**: Industries requiring human approval (e.g., traditional finance) face slower disruption due to compliance and legal barriers. 3. **Authority-as-a-Service**: Human trust in institutional authority (e.g., legal or audit services) persists even if AI outperforms humans technically. 4. **Physical World Lag**: Hardware-dependent sectors evolve slower, delaying full AI integration. However, these moats only delay, not prevent, disruption. The author emphasizes acting on signals rather than waiting for certainty: identify directional trends, place asymmetric bets (limited downside, high upside), and iterate through action. As AI accelerates, windows of opportunity close quickly. To remain relevant, humans must excel in long-term strategy, complex system-level thinking, and collaboration—areas where AI still lags. The time to act is now, before markets price in the obvious.

marsbit03/15 05:35

Which Areas Still Have Moats in the AI Era?

marsbit03/15 05:35

US Billionaire Backs Stablecoins To Take Over Payment Systems – Details

American billionaire investor Stanley Druckenmiller predicts stablecoins will become central to the U.S. payment system within the next 10-15 years, citing their efficiency, speed, and cost-effectiveness. While he views blockchain and stablecoins as highly productive innovations, he remains skeptical of regular cryptocurrencies, calling them an unnecessary "solution looking for a problem." His comments follow the recent U.S. regulatory approval for stablecoins, prompting developments from firms like Tether and major financial institutions. Despite his crypto criticism, he acknowledged the potential for a cryptocurrency to challenge the U.S. dollar as the global reserve currency in the next 50 years. Stablecoins currently represent 13% of the $2.42 trillion crypto market.

bitcoinist03/14 23:31

US Billionaire Backs Stablecoins To Take Over Payment Systems – Details

bitcoinist03/14 23:31

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