“This action runs counter to the CFTC’s established framework for regulating prediction markets,” the spokesperson said in a statement emailed to CoinDesk. So far, the states that have filed such a challenge against the prediction markets have met with counter suits from the CFTC, where Chairman Mike Selig has taken an aggressive legal stance defending […]
The House Ways and Means Committee circulated seven draft bills ahead of this week’s hearing on crypto tax policy, signaling what the industry can expect. You’re reading State of Crypto, a CoinDesk newsletter looking at the intersection of cryptocurrency and government. Click here to sign up for future editions. The narrative The House Ways and […]
White House adviser Patrick Witt said it’s possible the Clarity Act becomes law by July 4 while Senator Kirsten Gillibrand pushed for an ethics provision in the market structure bill. Consensus Miami 2026 wrapped up with a fiery debate on the role of prediction markets, and a lot otherwise happened at our first conference in […]
The crypto market structure bill has not made much public movement in a month. While making a prognosis on the bill is difficult, it’s not hard to see that the clock for passage is running out. You’re reading State of Crypto, a CoinDesk newsletter looking at the intersection of cryptocurrency and government. Click here to […]
Commodity Futures Trading Commission Chairman Mike Selig told CoinDesk that the agency will continue to defend its “exclusive regulatory authority” to oversee prediction markets in court. “It doesn’t matter if it’s on sports, politics or anything else, if it’s a validly offered product within a CFTC-regulated exchange, then we regulate that,” Selig said. You’re reading […]
A political action committee with ties to major tech and crypto donors is raising the specter of disgraced ex-FTX CEO Sam Bankman-Fried to target New York congressional candidate Alex Bores as the state legislator faces a crowded Democratic field. A sharply worded mailer distributed by Think Big PAC told voters that the Democratic primary candidate […]
Though we’re still waiting on a lot of the formal rulemaking and proposed rulemaking from the federal securities and commodities regulators, last week’s memo is another sign that the SEC and CFTC are at least serious about signalling these efforts are coming. You’re reading State of Crypto, a CoinDesk newsletter looking at the intersection of […]
State Street and Galaxy Asset Management plan to launch a tokenized liquidity fund in early 2026 that uses stablecoins for around-the-clock investor flows, expanding the use of public blockchains in institutional cash management, the companies announced Wednesday. The State Street Galaxy Onchain Liquidity Sweep Fund, or SWEEP, will accept subscriptions and redemptions in PYUSD, a […]