SEC Allowed Broker‑dealers to Apply a 2% Haircut to Qualifying Stablecoins
The SEC’s Division of Trading and Markets issued staff guidance that allows broker-dealers to apply a 2% haircut to proprietary positions in qualifying payment stablecoins when calculating net capital. The practical change is that balances once treated as effectively unusable for net-capital purposes can now count with only a modest capital charge.
Kalshi Inks Game Point Capital Deal to Serve Sports Insurance Market as Legal Battles Intensify
Kalshi said that it is teaming up with sports-insurance broker Game Point Capital to bring institutional hedging for team performance bonuses and similar payout risks onto its platform, with Game Point expected to route about $30 million per year through Kalshi. The commercial pitch is straightforward: take a lumpy, event-driven liability that is often handled […]
How The SEC Handled Crypto Cases 12 Months into Trump’s Presidency
60% fewer enforcement cases, high-profile dismissals, and a reorganized enforcement apparatus defined the SEC’s crypto posture in the year after President Trump returned to office. The agency’s stance effectively moved from broad, aggressive ICO policing to a 2025 model centered on narrower fraud actions and a heavier reliance on structured rulemaking.
Grayscale’s NEAR ETF Plan Advances as NEAR Token Endures Heavy Selling Pressure
Grayscale filed an S-1 with the SEC on January 20, 2026 to convert its NEAR Protocol Trust into a spot ETF, proposing the ticker GSNR for listing on NYSE Arca. The filing is meant to translate an existing trust wrapper into a more scalable, regulated access point for NEAR, but it lands during a period […]
Solana Policy Institute Urges SEC to Exempt DeFi Developers from Exchange Rules
The Solana Policy Institute has formally asked the U.S. Securities and Exchange Commission to treat DeFi developers differently from regulated exchanges, pushing for an exemption from exchange-specific rules. If the SEC accepts the request, compliance duties could shift away from node-level operators and toward protocol teams, with immediate consequences for network availability and how upgrades […]
CLARITY Act Headed For Senate Banking Committee Markup On Jan. 15, 2026
The Senate Banking Committee will mark up the Digital Asset Market Clarity Act (the CLARITY Act) on January 15, 2026, according to the committee schedule. The session, led by Chairman Senator Tim Scott, is meant to formalize a taxonomy that splits digital-asset oversight between the CFTC and the SEC.
Maxine Waters Demands SEC Hearing Over Dropped Crypto Cases
Representative Maxine Waters has formally pressed for a House Financial Services Committee oversight hearing into what she describes as the SEC’s recent pullback from crypto enforcement. In a letter dated around December 29–30, 2025 to Chairman French Hill, she argues the shift weakens investor protections and demands direct accountability from SEC Chairman Paul Atkins.
Making RWAs compliant requires legal and operational rigor
Real-world asset (RWA) tokenization needs more than smart contracts to scale: it requires rigorous legal structuring, continuous disclosure and institutional-grade controls to satisfy U.S. securities law. The path to compliance is being shaped by securities classification, custody frameworks and anti-financial-crime measures, with former SEC counsel Ashley Ebersole and other industry experts pointing to the SEC’s […]
CZ’s YZi Labs in Boardroom Coup Bid for World’s Largest BNB Treasury
YZi Labs has launched a written-consent takeover bid targeting CEA Industries Inc. (ticker: BNC), which manages what it calls the world’s largest BNB treasury. The move, formalized in a preliminary consent statement filed on November 27, 2025, accuses BNC’s leadership of governance lapses and seeks to replace the board to restore value. The campaign, linked […]