The latest news about cryptocurrencies - the business, markets, regulations, policies, fraud, culture, events and the technology that powers it all.
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Financefy.ca - Bitcoin news retweeted
🚨NEW: @BlockchainAssn CEO @SummerMersinger is stepping down. @KristinSmith, the group’s former CEO and current president of @SolanaInstitute, is returning as interim CEO.
Financefy.ca - Bitcoin news retweeted
SEC APPROVES LIMITED ONCHAIN TRADING OF TOKENIZED U.S. STOCKS
The SEC approved a temporary, conditional exemption allowing tokenized NMS stocks to trade on certain onchain venues using automated market makers and liquidity pools.
The exemption is limited by symbol and trading-volume caps and requires transaction transparency, recordkeeping, technology safeguards and coordination around trading halts.
The SEC says the program is designed to let regulators observe real-world tokenized stock trading before considering longer-term rules.
This is not a blanket exemption for tokenized equities. The SEC had previously outlined a temporary, volume-limited framework for testing this type of trading.
Source: SEC
Financefy.ca - Bitcoin news retweeted
JUST IN: 🇺🇸 Senators who voted against advancing the Crypto Clarity Act:
Independents:
• Angus King
• Bernie Sanders
Republicans:
• Thom Tillis
• Jerry Moran
• Josh Hawley
• Susan Collins
Democrats:
• Andy Kim
• Tim Kaine
• Jack Reed
• Mark Kelly
• Ed Markey
• Tina Smith
• Jon Ossoff
• Alex Padilla
• Ron Wyden
• Dick Durbin
• Gary Peters
• Peter Welch
• Jeff Merkley
• Cory Booker
• Jacky Rosen
• Adam Schiff
• Brian Schatz
• Patty Murray
• Mark Warner
• Elissa Slotkin
• Mazie Hirono
• Chris Murphy
• Ben Ray Luján
• Ruben Gallego
• Maria Cantwell
• Maggie Hassan
• Amy Klobuchar
• Martin Heinrich
• John Fetterman
• Tammy Baldwin
• Michael Bennet
• Chuck Schumer
• Jeanne Shaheen
• Chris Van Hollen
• Elizabeth Warren
• Kirsten Gillibrand
• Raphael Warnock
• John Hickenlooper
• Tammy Duckworth
• Richard Blumenthal
• Lisa Blunt Rochester
• Sheldon Whitehouse
• Catherine Cortez Masto
Financefy.ca - Bitcoin news retweeted
🚨NEW: Former @CFTC Chairman @giancarloMKTS tells me the Senate’s failure to pass the Clarity Act is a disappointment but will not stop the “march of innovation” in the U.S.
“@SECPaulSAtkins and @ChairmanSelig are determined to do what their jobs require them to do and put in place sound regulatory frameworks that ensure that financial innovation, market modernization and economic growth take place under U.S. law and not outside it,” he said.
Tomorrow at the @avax Summit in NYC, I’ll be sitting down for a timely discussion with Giancarlo and fellow former SEC and CFTC commissioners @timmassad, Troy Paredes and Caroline Crenshaw.
Financefy.ca - Bitcoin news retweeted
There’s no sense in sugarcoating it: today’s vote was a major disappointment—and, I believe, a failure of American leadership. The full cost of today’s result may not be known for years to come, but this much is clear: it increases the risk that the standards that global financial markets adhere to in the future will be those of Brussels or Beijing, rather than Washington and New York.
I want to thank @POTUS for the opportunity to work on this important legislation and for the remarkable concessions he was willing to make to give this bill a chance; @DavidSacks for his wise leadership on not only crypto but all frontier tech policy; and all the Senators and their staffs who devoted countless hours to working on this bill, chief among them @SenLummis who deserved much better than this.
Lastly, I also want to thank my colleagues across the administration at Treasury, SEC, and the CFTC. Their partnership helped us find creative solutions to challenging issues throughout this process, and their patience made it possible for us to see it all the way through to a vote.
On that last point: @SECPaulSAtkins and @ChairmanSelig, you’re up!
Financefy.ca - Bitcoin news retweeted
🚨NEW: Several Democrats who have spent months negotiating the Clarity Act, including Gillibrand, Warner, Booker, Warnock, Gallego, Alsobrooks and Cortez Masto, have all voted NO.
One industry leader just texted me: “It died.”
Financefy.ca - Bitcoin news retweeted
🚨NEW: More color on what happened here, according to a Democratic staffer:
@SenThomTillis was willing to delay the vote to continue negotiations, but staff for @SenatorTimScott abruptly ended the talks.
“They wanted to protect the president’s grift, and they know that getting on the bill exposes problems for them,” the staffer said.
Financefy.ca - Bitcoin news retweeted
With just an hour to go until senators vote on the Clarity Act, the mood among negotiators on Capitol Hill is tense as talks come down to the wire.
Democrats are still holding the line on changes to the bill’s ethics provisions. Any further tweaks would likely require another sign-off from the White House, and everyone involved is acutely aware that time is running out.
“Lots of really hard work is going on. But time is very short,” one Democratic source said. A Republican source echoed that sentiment.
An industry source on the Hill today tells me they expect the bill to fall short of the 60 votes needed to advance following talks with lawmakers.
But this is Congress, and anything can happen.
🚨🗞️NEW: Clarity Act Heads to Pivotal Senate Vote as Democrats Make Eleventh-Hour Counteroffer
Everything you need to know ahead of this afternoon’s vote, including details of the Dem counteroffer, GOP pushback and a new White House initiative. ⬇️
cryptoinamerica.com/p/clarit…
Financefy.ca - Bitcoin news retweeted
Republican Senator @SenThomTillis of North Carolina breaks his silence on the ethics provision sent back from the White House and reveals how he’ll vote today.
Financefy.ca - Bitcoin news retweeted
There is an unseen hand pushing AI safety as a political ideology.
Effective Altruists believe a tiny group of technocrats should decide how much technological progress the rest of us are allowed to have…. and how many shrimp your life is worth.
You are witnessing their attempted coup.
thefp.com/p/dangerous-ideolo…
Financefy.ca - Bitcoin news retweeted
🚨The bill Bernie Sanders introduced to ban open-source AI was written in London.
By a lobby shop.
Funded by the man who bankrolled Anthropic.
Neither Sanders nor the American press told you.
I did:
sayerji.substack.com/p/the-e…
Financefy.ca - Bitcoin news retweeted
🚨NEWS: Senate Republicans have released new Clarity Act text featuring a revised ethics proposal agreed to by President Trump.
The text also contains changes to the sections on the Blockchain Regulatory Certainty Act (BRCA), stablecoin yield, and the so-called “Ag title.”
Republicans are calling it their “last, best and final” offer to Democrats ahead of Tuesday’s cloture vote.
Some high-level details.👇🏼
On BRCA: The provision has been narrowed to the Bank Secrecy Act and civil enforcement. Specific language extending its protections to criminal cases, including prosecutions under Section 1960, has been removed.
On ethics: Trump has agreed to what a GOP aide describes as “80%” of the Tillis-Gallego ethics proposal including to either divest “substantial” crypto-related financial interests or place them in a blind trust. It would also allow a role for state attorneys general to enforce ethics provisions, something which the White House had previously balked at.
On yield: Added “circuit breaker” language (floated by Tillis in July) that would effectively act as a backstop by allowing federal regulators to intervene if there was evidence of widespread deposit flight from community banks to stablecoins. The federal regulator that will be the arbiter of this: Treasury Secretary Scott Bessent.
On Ag: The updated text adds tighter guardrails around vertical integration, including affiliate trading and conflicts of interest involving digital commodity exchanges, brokers and dealers. It also clarifies that state consumer protection laws still apply and that developer protections do not create exemptions from derivatives laws or impact prediction markets.
More to come in the @CryptoAmerica_ newsletter tomorrow AM.
Financefy.ca - Bitcoin news retweeted
After a year of intense daily bipartisan negotiations, this bill is ready. Here is the final text. President Trump voluntarily agreed to new ethics provisions holding every federally elected official, judge, and their spouses to some of the toughest ethics restrictions in U.S. history. This new text includes more than 120 of Democrats' demands. A no vote on Tuesday means opposing real ethics reforms on politicians' personal investments, handing American leadership in digital assets to our foreign competitors, and leaving Americans with zero protections in the digital asset markets. Democrats got what they wanted; now they need to take yes for an answer. Here's the latest: lummis.senate.gov/press-rele…
Financefy.ca - Bitcoin news retweeted
I reread this every year.
I cry like a baby every year.
Todd Beamer died a father, husband, and hero.
Todd: Hello… Operator… listen to me. I can’t speak very loud. This is an emergency. I’m a passenger on a United flight to San Francisco. Our plane has been hijacked.
Lisa: I understand. Can they see you?
Todd: No. There are three that we know of. They have knives — razor knives, like box cutters. Someone announced from the cockpit there was a bomb. It sounded fake.
Lisa: Your name?Todd: Todd Beamer. United Flight 93.Todd: They killed one passenger in first class. They forced most of us back. Fourteen of us here. Five flight attendants. The guy with the bomb ordered us to sit on the floor.
Lisa: Are you okay?
Todd: We’re going down… wait. No. We’re leveling off. We changed directions. We’re flying east again.
Todd: A guy named Jeremy called his wife. She told him two planes hit the World Trade Center. Lisa, is that true?
Lisa: I have to tell you the truth. It’s very bad. Both towers are gone. A third plane hit the Pentagon. Our country is under attack. I’m afraid your plane may be part of their plan.
Todd: Oh God. Lisa, will you do something for me? Call my wife and my kids. Promise me you’ll call.
Lisa: I promise.
Todd: Our home number is… You have the same name as my wife. Lisa. We’ve been married ten years. She’s pregnant with our third child. Tell her I love her. I’ll always love her. We have two boys — David, he’s 3, and Andrew, he’s 1. Tell them their daddy loves them and he is so proud of them. The baby is due January 12th. I saw an ultrasound. We still don’t know if it’s a girl or a boy.
Lisa: I’ll tell them. I promise, Todd.(Lisa patches in the FBI.)
Agent: Todd, your plane is on a course for Washington. Best guess is the White House or the Capitol.
Todd: I understand. I’ll be back.
Todd: Everyone knows this isn’t a normal hijacking. We have decided we will not be pawns in their plot.
Lisa: What are you going to do?
Todd: Four of us are going to rush the one with the bomb. Then the cockpit. A stewardess is getting boiling water. We’ll take them out.
Todd: Would you pray with me?They pray the Lord’s Prayer. Then: Yea, though I walk through the valley of the shadow of death, I will fear no evil, for thou art with me.
Todd: God help me. Jesus help me.Are you guys ready? Let’s Roll.
Financefy.ca - Bitcoin news retweeted
The National Sheriffs’ Association was the last of the major police organizations opposing the Clarity Act to change its position, moving from opposition to neutral. But that shift is notable.
Compare the language in this letter with the one the group sent July 31, when it described the bill as “harmful,” warned of “significant law enforcement and public safety risks” and characterized the BRCA language as “terrible policy.”
While not an endorsement, the shift likely reflects significant behind-the-scenes work between White House officials and the group this summer to move it from its earlier highly critical stance to neutral.
Not expected to change their positions, I’m told, are the prosecutors: the National District Attorneys Association and the National Association of Assistant U.S. Attorneys.
Both groups have conditioned their support on significantly narrowing the BRCA’s protections for noncustodial software developers, including making it easier to prosecute them as unlicensed money transmitters for knowingly moving illicit funds. The White House, Treasury, Members of Congress and the crypto industry have made clear they are unwilling to make those changes.
Democratic Senator @SenCortezMasto aligned herself with the prosecutors’ groups in a July letter backing the proposed changes and has not publicly shifted her position since.
But the NSA’s move to neutral is generally being viewed as removing another obstacle on the path to the September 15 vote.
Financefy.ca - Bitcoin news retweeted
BREAKING: 🇺🇸 A major US law enforcement group, the NSA, now supports the CLARITY Act.
Financefy.ca - Bitcoin news retweeted
🚨NEW: Another big crypto-related rule proposal from the @SECGov dropped today, this time to update its decades-old transfer agent rules to account for blockchain technology and tokenized securities.
The proposal would allow transfer agents (which maintain the ownership record for securities) to use blockchain as the official record. Firms would also have to report how many tokenized securities they service and which blockchain platforms they use.
The move marks another step in the agency’s broader push to bring U.S. securities markets onchain.
TODAY🚨: The SEC proposed to update the rules and forms that apply to registered transfer agents.
Read more: sec.gov/newsroom/press-relea…
Financefy.ca - Bitcoin news retweeted
Call it the backlash to the backlash—Unions and building trades say they will oppose candidates attacking data centers, putting Democrats and other long-term allies in a pickle.
W/ @lindsayaellis:
wsj.com/economy/jobs/blue-co…
Financefy.ca - Bitcoin news retweeted
The X Safety team conducted an investigation into suspected Chinese inauthentic accounts involved in influence operations:
We identified a bot farm of approximately 200,000 accounts. Within this farm, we found 200 accounts posting in a manner that could manipulate a legitimate debate about American AI and energy policy.
These posts contained claims that AI data centers are driving up household electricity prices and straining the grid. Others included AI-generated cartoons that depicted data-center operators enriching themselves at the public's expense.
We remain committed to maintaining an open and authentic platform where people debate topics of public interest. We take seriously any attempts to undermine the integrity of the global town square and suspend accounts that violate our Authenticity policy.
