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Techub News reports that the U.S. crypto industry has begun adjusting its political lobbying strategy following the stalling of the CLARITY Act in the Senate. The industry is shifting its focus to the upcoming Senate elections in search of crypto-friendly legislative support. (Google News: CLARITY Act)
Techub News reports that @JSeyff tweeted that the U.S. Securities and Exchange Commission (SEC) is continuing to advance the development of guidance and potential new regulations related to cryptocurrency asset custody. The tweet also questions the necessity of the CLARITY Act.
Techub News reports, Paul Atkins, a commissioner of the U.S. Securities and Exchange Commission (SEC), tweeted that since the birth of Bitcoin in 2008, the market for crypto assets has evolved from a niche area into a trillion-dollar asset class, but current rules and regulations have not kept pace with this development. To address this, the SEC today released a proposal aimed at providing a clear regulatory framework for crypto asset custody, creating an unprecedented compliance pathway for investment advisors and funds to replace the uncertainties brought about by custody rules established in past eras. (@SECPaulSAtkins)
Techub News reports that the New York State Department of Financial Services (NYDFS) has signed a Memorandum of Understanding with the Wyoming Division of Banking to coordinate the regulation of cryptocurrency companies. The agreement aims to enhance regulatory efficiency and consistency, but it may also increase compliance challenges for businesses. Both parties will establish an information-sharing framework and coordinate on regulatory standards, examinations, and enforcement actions. This move is seen as an important step in strengthening cooperation among state-level regulatory agencies in the crypto space. (Crypto Briefing)
Techub News reports that the state of Illinois in the United States has agreed to delay the implementation of a cryptocurrency tax law originally scheduled to take effect on January 1, 2027. Previously, several cryptocurrency groups filed lawsuits and applied for preliminary injunctions to prevent the law from taking effect at the beginning of next year. (CoinGape)
Techub News reports that financial services company Marex has announced the launch of an over-the-counter rolling spot cryptocurrency product for institutional clients, marking the latest step in the company's ongoing expansion of its digital asset offerings. Marex is a diversified financial services company listed on NASDAQ. (Finextra Crypto Channel)
Techub News reports that the state of Illinois in the United States has agreed to delay the implementation of cryptocurrency taxes by six months. The state originally planned to start levying capital gains taxes on cryptocurrency transactions on January 1, 2027, but relevant industry organizations are fighting back through legal channels, and the lawsuit is still ongoing. (CoinDesk)
Techub News reported that asset management company Bitwise released an analytical report mapping the development of four major beneficiary areas within the crypto industry during the stalled legislative progress of the CLARITY Act in the United States. The report aims to analyze structural changes in the market under regulatory uncertainty. Bitwise's report pointed out that in the context of hindered traditional regulatory legislative paths, crypto-native areas such as decentralized finance, specific blockchain networks, and their ecosystems have gained more attention and developmental momentum. (Google News: CLARITY Act)
Techub News reports that Republican members of the U.S. Senate have officially introduced a cryptocurrency tax bill. The bill aims to provide clearer tax rules for cryptocurrency transactions and may include exemptions for stablecoins and adjustments to the wash-sale rules. (@Kalshi)
Techub News reported that @Delphi_Digital tweeted that Crypto-native bank Ceteris explained new use cases that can be built in the crypto space after stocks are put on-chain. Ceteris stated that after users use the crypto-new bank, all purchasing behaviors will automatically earn tokenized stocks of the merchants they consumed.
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