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The post CLARITY Act Faces CFTC Vacancy Fight Before Senate Floor Vote appeared on BitcoinEthereumNews.com. TLDR: The CLARITY Act faces a fresh political hurdle as White House officials and Senate Democrats dispute vacant SEC and CFTC seats. The CFTC vacancies matter since the crypto bill could give the agency broad authority over spot digital commodity markets. White House officials said they requested Democratic nominee names for SEC and CFTC seats but had not received a response. Senate talks now include nominations, ethics language, DeFi rules, and the timeline for passing the wider crypto bill. The CLARITY Act has moved into a new Senate pressure point as the White House and Democrats trade claims over vacant SEC and CFTC seats. White House officials told Senate leaders that the administration sought Democratic names for both agencies but had not received them. Democrats have argued that missing commissioners weaken the agencies expected to shape digital asset rules. The dispute n
Read full articleU.S. Senator Ron Wyden urged Senate leaders to preserve legal protections for non-custodial blockchain developers in the Digital Asset Market Clarity Act, drawing crypto policy support while leaving his final vote on the bill uncertain. Why Is Wyden Pushing to Preserve Developer Protections? U.S. Senator Ron Wyden (D-OR) sent a letter on July 8 to […]
The post US Lawmaker Pushes Crypto Developer Protections as Senate Weighs CLARITY Act appeared on BitcoinEthereumNews.com. Key Takeaways U.S. Senator Ron Wyden urged Senate leaders to preserve protections for non-custodial blockchain developers in the CLARITY Act. Crypto policy advocates praised Wyden’s stance as a defense of software publication and open internet principles. Alex Thorn said backing developer protections does not necessarily indicate Wyden will support the broader CLARITY Act. Why Is Wyden Pushing to Preserve Developer Protections? U.S. Senator Ron Wyden (D-OR) sent a letter on July 8 to Senate Majority Leader John Thune (R-SD) and Senate Minority Leader Chuck Schumer (D-NY) urging them to retain Section 604 of the Digital Asset Market Clarity Act, in any version of the legislation brought to the Senate floor. The provision was approved by the Senate Banking, Housing, and Urban Affairs Committee. Wyden wrote: “I write to urge you to ensure that any version of the Digit
The post Hyperliquid Policy Center, Phantom Urge CFTC To Ease Onchain Software Registration Rules appeared on BitcoinEthereumNews.com. TLDR: HPC and Phantom filed a joint letter urging CFTC to clarify registration rules for developers. The letter asks CFTC to give registered exchanges a path to adopt onchain infrastructure. HPC and Phantom want the Phantom no-action letter codified into a permanent formal rule. The filing responds directly to a CFTC request on rules hindering market participants. Hyperliquid Policy Center and Phantom have urged the CFTC to clarify that publishing onchain protocol software does not require registration. The two firms submitted a joint comment letter this week addressing onchain market infrastructure. Their filing asks regulators to modernize outdated rules built around custodial intermediaries. It calls for a clear registration pathway for exchanges adopting onchain systems. The letter also pushes to codify the existing Phantom no-action letter into for
The post SPI Asks CFTC to Bring Blockchain-Friendly Reforms appeared on BitcoinEthereumNews.com. Key Highlights On Thursday, the Solana Policy Institute submitted comments urging the CFTC to update the outdated rules that create obstacles for blockchain-based innovations. In the filing, Solana Policy Institute urged regulators that non-custodial front-ends should not be classified as intermediaries just for allowing users to submit transactions. The response comes after the CFTC’s June 2026 request for the public to boost fintech innovations. On July 9, Solana Policy Institute submitted its response to the U.S. Commodity Futures Trading Commission (CFTC) request for public input on barriers to fintech innovation. In the official document, the non-profit organization mentioned the need to update old regulatory frameworks to support blockchain-based markets and non-custodial interfaces like wallets. The Solana Policy Institute mentioned in the response that “These comments focus on three
The post Paul Grewal exits Coinbase legal helm before crucial CLARITY vote appeared on BitcoinEthereumNews.com. Paul Grewal has announced that he will step down as Coinbase’s chief legal officer on July 31, handing over leadership of the exchange’s legal team just days before the US Senate is expected to resume work on the CLARITY Act. Summary Paul Grewal will leave his role as Coinbase chief legal officer on July 31 and become an adviser. Molly Abraham will become general counsel as Congress prepares to revisit the CLARITY Act. Coinbase continues pushing for crypto market structure legislation after its SEC lawsuit was dismissed. According to posts Grewal published on X and LinkedIn, he will move into an advisory role at Coinbase after serving as the company’s chief legal officer since 2020. The announcement also confirmed that legal vice presidents Molly Abraham and Ryan VanGrack will take on expanded responsibilities, with Abraham becoming general counsel and VanGrack serving as vic
The post Kalshi Plans Expansion Into Gold, Currency, and Energy Perpetual Futures Markets appeared on BitcoinEthereumNews.com. Key Highlights Kalshi is requesting regulatory clearance for perpetual futures covering gold, currencies, and energy. The trading venue intends to move past cryptocurrency-focused derivative offerings. Precious metals, particularly gold, represent a top strategic focus for upcoming launches. Regulatory examination by the CFTC may establish precedents for energy-linked perpetual contracts. Legacy derivative exchanges confront mounting competitive challenges from Kalshi’s strategic growth. Kalshi has submitted applications to broaden its perpetual futures offerings into precious metals, currency pairs, and energy commodities. This strategic initiative represents an effort to extend its regulated derivatives framework beyond cryptocurrency markets. The expansion strategy positions Kalshi in direct rivalry with long-standing exchange platforms and retail-focused tr
Paul Grewal has announced that he will step down as Coinbase’s chief legal officer on July 31, handing over leadership of the exchange’s legal team just days before the US Senate is expected to resume work on the CLARITY Act.…
The post North Carolina Sides With Federal Preemption, Taxing Prediction Markets 6% While Sportsbooks Pay 23% appeared on BitcoinEthereumNews.com. Key Takeaways North Carolina’s signed budget taxes prediction markets at 6% of net trading fee revenue, effective January 1, 2027. The state declines to require prediction platforms to hold a state license, recognizing CFTC authority instead. Sports betting operators face a separate, higher 23% tax on gross wagering revenue, up from 18%, effective immediately. A carveout sidestepping a fight Governor Josh Stein signed North Carolina’s $34 billion fiscal-year budget on July 7, enacting Senate Bill 257 – now Session Law 2026-41 – after more than a year of negotiations. The budget’s two key gambling provisions pull in opposite directions: the first raises the tax on licensed online sports betting from 18% to 23% of gross wagering revenue, effective immediately. The second, taking effect January 1, 2027, imposes a 6% tax on prediction market ope
