Regulation news

05:26 Regulation

IMF Releases $138 Million to El Salvador After Waiving Bitcoin Program Breach

IMF approves $138M for El Salvador, waives Bitcoin program breach The IMF approved an immediate disbursement of about $138 million to El Salvador after completing two reviews of its $1.4 billion program and waiving missed conditions, including a Bitcoin accumulation restriction. The Fund said the breached accumulation came from private donations, not public money, but urged El Salvador to keep shrinking the state’s crypto role, unwind remaining public exposure to Chivo, and avoid any further Bitcoin buildup beyond verified donations.

04:41 Regulation

US Treasury Sanctions A7 Network, Says It Moved More Than $17 Billion

US sanctions A7 Network over Russia- and Iran-linked illicit transfers The US Treasury on Oct. 1 sanctioned the A7 Network as a significant transnational criminal organization, saying it helped Russia and Iran evade sanctions and move illicit funds. FinCEN said the network’s sub-agents processed more than $17 billion globally from January 2025 to June 2026, and proposed restricting fund transfers involving them. Treasury also flagged A7A5, a ruble-pegged token issued by Old Vector, as part of the network’s cross-border infrastructure.

04:11 Regulation

CFTC Staff Flags ‘Mention Markets’ as Presumptively Open to Manipulation

CFTC staff warns exchanges on “mention markets” The CFTC’s Division of Market Oversight told registered exchanges on Sept. 22 that “mention markets” — yes-or-no contracts on whether someone says a word or phrase — are presumptively vulnerable to manipulation, because the speaker or associates may control or know the outcome in advance. The guidance does not ban the contracts, but says exchanges must make a heightened case to list them.

22:41 Regulation

SEC Proposes New Crypto Custody Rules After Admitting Bitcoin Outpaced Old Standards

SEC proposes new crypto custody rules for advisers and funds SEC Chair Paul Atkins said federal securities rules have not kept pace with Bitcoin and unveiled a proposal to update crypto custody under the Investment Advisers Act and Investment Company Act. The plan would let registered advisers and regulated funds hold digital assets under a clearer framework, permit client self-custody in some cases, and allow state-chartered trust companies to serve as custodians. Public comment will be open for 60 days after publication in the Federal Register.

22:12 Regulation

Illinois Pushes Digital-Asset Tax Start to July 2027 as Industry Lawsuits Continue

Illinois delays crypto transaction tax to July 2027 Illinois has agreed to push back its 0.2% tax on digital-asset transactions by six months, moving the start date to July 1, 2027 from January 1, 2027, while lawsuits from crypto industry groups continue. The tax, included in the state’s fiscal 2027 budget signed by Governor JB Pritzker in June, applies to crypto brokers and allows fines or prison terms for violations.

22:11 Regulation

New York and Wyoming Sign Crypto Oversight Pact With 6-Month Review Goal

New York and Wyoming sign crypto oversight pact with 6-month review target New York’s DFS and the Wyoming Division of Banking signed an MOU to coordinate crypto oversight and speed some interstate licensing reviews, with qualifying firms eligible for a final decision within six months. To use the fast track, companies must have operated for at least three years under their current regulator, face no active enforcement action, and propose a substantially similar business model.

18:41 Regulation

Alabama Crypto ATM Refund Rules Take Effect Under New Anti-Fraud Law

Alabama crypto ATM law takes effect with mandatory scam refunds Alabama’s Cryptocurrency Kiosk Fraud Prevention Act took effect Oct. 1, requiring crypto ATM operators to reimburse qualifying scam victims: new customers can get full refunds plus fees, while existing customers can recover half the payment plus fees. To qualify, victims must notify the operator, law enforcement, and the Alabama Securities Commission within 60 days; the law also imposes transaction caps and fraud disclosure rules.

16:26 Regulation

New York and Wyoming Sign Agreement to Coordinate Crypto Oversight

New York and Wyoming sign crypto oversight pact New York and Wyoming financial regulators signed an MOU to coordinate oversight of crypto firms operating in both states, including licensing reviews, exams and potential enforcement actions. The deal lets the agencies share supervisory and examination data, pursue joint or coordinated probes, and offers some firms already licensed or chartered in one state an expedited path in the other, with a target decision within six months for companies with at least three years of clean operating history.

14:11 Regulation

Dutch Lower House Approves Plan to Tax Unrealized Crypto Gains From 2028

Dutch lower house backs tax on unrealized crypto gains from 2028 The Dutch House of Representatives has passed the Box 3 Actual Return Tax Act, which would tax cryptocurrencies on annual value changes even if investors do not sell. The bill still needs Senate approval; if adopted, it would take effect in 2028 and let losses be carried forward to offset future gains.

13:27 Regulation

EU opens coordinated cases over virtual currency sales in Minecraft, Candy Crush and more

EU consumer authorities target game studios over virtual currency sales European consumer authorities have launched 11 coordinated actions against 10 video game companies over how they sell and price in-game virtual currencies, targeting titles including Minecraft, Candy Crush Saga, Clash of Clans and Valorant. The new guidance says real-world prices must be shown clearly, cost-obscuring currency exchanges and leftover-balance bundles should be avoided, and players must be able to withdraw within 14 days for bought but unspent currency. It excludes cryptocurrencies and currencies earned only through gameplay.

11:11 Regulation

SEC framework shuts out synthetic tokenized stocks in push for real share ownership

SEC bars synthetic tokenized stocks under new innovation exemption The SEC’s Sept. 17 “innovation exemption” would allow blockchain venues to list tokenized securities only if they represent actual ownership and give holders the same rights as traditional shares, including dividends and voting. The framework excludes synthetic stock tokens like Robinhood’s offshore AMC-linked product and requires issuers to get notice and a chance to object before a third party tokenizes their shares.

06:26 Regulation

OFAC Sanctions Seven Crypto Wallets in Alleged Tren de Aragua ATM Jackpotting Network

OFAC sanctions 7 crypto wallets tied to Tren de Aragua jackpotting ring The US Treasury’s OFAC sanctioned 10 targets tied to Tren de Aragua’s alleged ATM jackpotting scheme, including seven crypto addresses linked to ringleader “Prometheus,” identified as FBI Most Wanted fugitive Anibal Alexander Canelon Aguirre and his associates. Treasury said the attacks caused $40.73 million in US losses across more than 1,500 incidents as of August 2025, and warned that foreign financial institutions handling significant transactions for the designees could face secondary sanctions.

04:40 Regulation

South Korea Drafts 100 Million Won Annual Cap for Retail OTC Token Securities Purchases

South Korea proposes 100 million won annual cap for retail token securities buys South Korea’s Financial Services Commission plans to cap retail investors’ annual net purchases on each over-the-counter token securities platform at 100 million won ($72,000) under draft rules open for comment from Oct. 2 to Nov. 11. The proposal, ahead of amended laws taking effect on Feb. 4, 2027, also creates a licensing unit for OTC platforms handling debt securities, opening the way for tokenized bonds.

03:11 Regulation

ESMA seeks MiCA rules for firms that provide user access to DeFi

ESMA proposes new MiCA rules for firms providing access to DeFi The European Securities and Markets Authority wants MiCA to regulate the gateways into DeFi, proposing a new crypto-asset service category for firms that connect users to protocols through interfaces, routing or other customer-facing tools. ESMA also wants the DeFi exemption narrowed and clearer criteria for when a protocol is truly decentralized rather than still dependent on human control.

17:15 Regulation

Bank of Russia proposes mandatory disclosure of clients’ crypto holdings

Bank of Russia proposes mandatory crypto holdings disclosures in bank statements Russia’s central bank has published a draft rule that would require banks and financial firms to include clients’ cryptocurrency holdings, income from coin sales, mining proceeds, and “digital financial assets” in official disclosure statements. If adopted unchanged, the measure would take effect on July 1, 2027, expanding the documents used for income and asset declarations by civil servants, lawmakers, central bank staff, and state company employees.

12:26 Regulation

New Zealand Permits Bitcoin Use but Has No Standalone Crypto Rulebook

New Zealand allows Bitcoin trading but offers no dedicated crypto regime New Zealand allows people to buy, hold and sell Bitcoin, but the Financial Markets Authority says cryptocurrencies are not specifically regulated and may not carry the same consumer protections as traditional financial products. Instead, crypto activity is handled through existing financial-services laws, AML/CFT rules and tax law, with Inland Revenue treating crypto as property and taxing disposal gains at 10.5% to 39% where applicable.

08:41 Regulation

ASIC’s crypto licensing relief ends as Australia moves to stricter oversight

ASIC no-action relief for crypto firms expires after Sept. 30 Australia’s crypto businesses relying on ASIC’s temporary no-action relief had until Sept. 30 to enter the financial services licensing process or lose that protection from Oct. 1. Firms that need authorization under existing law and fail to meet the conditions could be in breach and face civil or criminal penalties, with fines of up to 10% of annual turnover; ASIC said more than 45 digital asset businesses have already sought relevant licences.

05:11 Regulation

Illinois draft rules clarify DeFi and stablecoin scope under 0.2% crypto tax

Illinois issues draft rules for 0.2% crypto transaction tax Illinois tax officials have published draft rules for the state’s 0.2% digital asset transaction tax, clarifying that stablecoins are taxable while NFTs are excluded. DeFi activity would generally be exempt unless users pay fees treated as “valuable consideration,” and crypto bridging or transfers from centralized exchanges to self-custody wallets could be taxed when a broker or exchange charges a fee. The tax is set to take effect on Jan. 1, 2027, with comments open through Oct. 30.

03:56 Regulation

BSP Halts Inbound InstaPay and PESONet Transfers for Coins.ph Wallet Operator

BSP partially suspends Coins.ph wallet operator DCPay The Bangko Sentral ng Pilipinas has barred DCPay Philippines, the Coins.ph entity that handles peso wallets and fiat payments, from receiving inbound transfers via InstaPay and PESONet. Cash-ins and transfers into Coins.ph from banks and e-wallets will be rejected, but outbound transfers and QRPh merchant payments remain active. Crypto services under Betur are structurally separate, though bank-funded cash-ins for trading are affected.

03:11 Regulation

SEC Charges Four Entities Over Alleged $15.3M WhatsApp Crypto and AI Schemes

SEC charges four entities over alleged $15.3M WhatsApp crypto AI scams The SEC charged Cryptoaiml Ltd., Cryptoaiml Capital Foundation, TSAI Pro Ltd., and TSAI Capital Foundation on Sept. 29, alleging they used WhatsApp, Facebook and websites to lure hundreds of investors into fake crypto trading and AI bot programs and misappropriated more than $15.3 million. The agency said Cryptoaiml showed fictitious profits and demanded withdrawal fees, while TSAI promoted nonexistent AI bots and recruitment rewards, and both used false SEC-related filings to appear legitimate.

22:11 Regulation

California’s AB 2409 sharpens focus on political memecoin conflicts of interest

California signs AB 2409 targeting political memecoin conflicts California’s Sept. 27 signing of AB 2409 adds new scrutiny to political memecoins by barring tokens issued or promoted by public officials from being listed to California residents if they are tied to those officials, for tokens issued on or after Jan. 1, 2027. Global Settlement Network CEO Ryan Kirkley said the focus should be officials’ ownership, promotion, control, disclosure, and personal financial benefit, rather than broad restrictions across all digital assets.

12:43 Regulation

Belarus Approves First Two Crypto Banks Under New Rules, Pending Central Bank Registry

Belarus approves first two crypto banks under new legal framework Belarus’s Hi-Tech Park supervisory board has approved the registration of the country’s first two crypto banks, a new type of institution created under President Alexander Lukashenko’s Decree No. 19 signed on Jan. 16, 2026. The entities can conduct digital asset operations within the HTP’s special legal regime, but still need to be added to the National Bank’s registry before starting full-scale operations.

10:56 Regulation

Jamaica Debates Bill to License Crypto Firms and Enforce AML Rules

Jamaica debates bill to license and police crypto firms Jamaica’s House of Representatives began debating the Virtual Assets Service Providers Act on Sept. 22, a bill that would put exchanges and other crypto businesses under Financial Services Commission licensing and anti-money laundering supervision. The proposal would require ID checks, transaction monitoring, suspicious activity reports and travel rule compliance, while allowing the FSC to shut down noncompliant operators and pursue criminal charges against unlicensed providers.

06:42 Regulation

Spain Clarifies Self-Custody Crypto Is Outside Form 721 Reporting

Spain says self-custody crypto is exempt from Form 721 Spain’s tax authorities have clarified that cryptocurrency kept in self-custody wallets does not have to be reported under Form 721 if the taxpayer controls the private keys and no foreign third-party custodian is involved. The rule applies to both hot and cold wallets, while crypto held through foreign custodians can still trigger the overseas reporting requirement, which carries a €50,000 threshold.

05:12 Regulation

South Korea FSC Seeks Joint Framework for Won Stablecoin Rules

South Korea’s FSC moves to formalize won-backed stablecoin rules South Korea’s Financial Services Commission is seeking a policy consultative body with the Bank of Korea and the finance ministry to institutionalize won-denominated stablecoins, while reviewing legislation on reserve requirements, stable redemption, asset segregation and bankruptcy-remote safeguards. The proposed framework would also set issuer licensing, AML and distribution-stage oversight, including rules for tracking transfers between exchanges, custodial wallets and user-controlled non-custodial wallets.

04:12 Regulation

BTSE Bhutan Secures Gelephu License for Virtual Asset Trading and Custody

BTSE Bhutan gets virtual asset trading and custody license in Gelephu BTSE Bhutan said it has received a Financial Services License from the Gelephu Financial Services Office, allowing it to operate a virtual asset trading venue and provide custody services in the Gelephu Mindfulness City Special Administrative Region. The company said onboarding will start in the coming weeks, with spot trading initially limited to BTC/USDT and ETH/USDT.

21:57 Regulation

Tether Says It Helped Freeze Nearly $550M in Iran-Linked USDT as Senate Report Targets Network

Tether says it helped freeze nearly $550M in Iran-linked USDT Tether said Monday it assisted law enforcement in freezing nearly $550 million in Iran-linked USDT, pushing back as a Senate Democratic report released the same day argued USDT is Iran’s main crypto payment rail. The report, promoted by Sen. Richard Blumenthal, reviewed 846 sanctioned addresses tied to Iran or Iran-backed groups and said Tether has been too slow to block activity; CEO Paolo Ardoino rejected that premise.

21:55 Regulation

IRS Signals Scrutiny of Crypto ETF Tax Strategy and Warns of Possible Retroactive Action

IRS warns crypto ETFs on tax strategy, signals possible retroactive action The IRS issued a notice Monday targeting ETFs that hold digital assets and use in-kind redemptions to avoid booking gains, warning that future guidance could apply retroactively to past transactions; comments are due by October 28. The agency did not name funds, but said the approach can involve direct crypto holdings or trusts, while funds using offshore subsidiaries may fall outside the notice.

14:26 Regulation

ESMA turns MiCA agenda toward crypto supervision as 2027 priorities take shape

ESMA sets 2027 MiCA supervision priorities for crypto firms ESMA said its 2027 MiCA work will center on tougher coordination of national oversight of crypto-asset service providers, with a focus on operational resilience, outsourcing, reverse solicitation, liquidity and whether firms keep sufficient operations inside the EU. Chair Verena Ross said the bloc is moving “from rulemaking towards supervision and convergence,” while ESMA also plans harmonized CASP reporting and the first fully operational phase of its MIDAS market-abuse surveillance system in 2027.

10:56 Regulation

FCA opens UK crypto authorisation gateway as firms face a strict filing deadline

FCA opens UK crypto authorisation gateway on Sept. 30 The UK Financial Conduct Authority will open its new crypto authorisation gateway at 7 a.m. UK time on Sept. 30, with firms given until Feb. 28, 2027 to file for FSMA approval before the new regime starts on Oct. 25, 2027. The key consequence is timing: firms with a valid application filed by that deadline may keep serving customers while the FCA decides, but late filers could be restricted to winding down existing contracts only.

05:56 Regulation

South Korea reviews crypto market-making after JPYC spiked to 37.6 won on Upbit

South Korea weighs crypto market-making after JPYC surge on Upbit South Korea’s Financial Services Commission said it is reviewing whether to allow market-making in digital assets after yen-backed stablecoin JPYC jumped from 12 won to 37.6 won on Upbit within an hour of its Sept. 17 listing, reportedly due to thin liquidity. The FSC said current rules under the Virtual Asset User Protection Act effectively bar market makers by not exempting them from market-manipulation provisions.

04:26 Regulation

California Enacts Ban on Meme Coins Issued by Public Officials

California bans public officials from issuing meme coins Gov. Gavin Newsom signed AB 2409, barring California state and local officials — and some government employees with contract authority — from issuing meme coins. Starting Jan. 1, 2027, digital asset service providers also cannot list newly issued meme coins offered by, or in partnership with, federal or California officials; enforcers can seek injunctions and disgorgement in civil court.

19:56 Regulation

California closes Nano Banc as FDIC arranges transfer of deposits to Sunwest

California shuts Nano Banc; FDIC brokers transfer to Sunwest California regulators closed Irvine-based Nano Banc on Friday and appointed the FDIC as receiver after the bank’s tangible equity fell to about $5.6 million, or 0.82% of assets, below the 3% statutory floor. Sunwest Bank will assume substantially all deposits and buy about $476 million of assets; Nano Banc had $736 million in assets and $686 million in deposits as of June 30. The FDIC estimates the failure will cost its insurance fund about $114 million.

13:10 Regulation

SEC staff says token buybacks may not trigger securities treatment once a network is functional

SEC staff says token buybacks on functional networks don’t make tokens securities The SEC’s Division of Corporation Finance said in new FAQs that once a crypto network is functional, announcing a token buyback program does not by itself amount to the “essential managerial efforts” prong of the Howey test. The guidance also says post-launch promises to maintain or grow a functional network likely would not satisfy Howey, while buyback pitches on non-functional networks could still cross the line if marketed as generating yield or returns.

16:11 Regulation

US Regulators Step In on Crypto After Senate Blocks Clarity Act

US regulators move to write crypto rules after Clarity Act stalls After the Senate failed to advance the Clarity Act in a 49-50 vote, the SEC, CFTC and Federal Reserve moved within days to shape crypto policy through existing powers. SEC Chair Paul Atkins unveiled an innovation exemption for some on-chain trading of tokenized US stocks, the CFTC issued crypto-related relief and sent a broader rulemaking to the White House, while the Fed proposed stablecoin reserve and capital rules.

04:10 Regulation

Federal Reserve Opens Comment on Two GENIUS Act Stablecoin Rules

Fed proposes two GENIUS Act rules for stablecoin issuers and banks The Federal Reserve has opened public comment on two proposed rules under the GENIUS Act: one would require Fed-supervised payment stablecoin issuers to fully back tokens with approved reserves such as short-term US Treasuries and other high-quality liquid assets, while imposing capital and risk-management standards; the other would set application rules for supervised banks seeking to issue stablecoins. Comments are due 60 days after publication in the Federal Register.

01:40 Regulation

Coinbase asks IRS to let Trump Accounts hold crypto and digital-asset funds

Coinbase asks IRS to let Trump Accounts invest in crypto Coinbase said it has asked the IRS to expand Trump Accounts so the children’s asset-building accounts can hold digital assets and crypto-focused funds, instead of being limited to low-cost US stock index funds under draft rules released last month. The exchange said the investment menu should be broadened to match what traditional IRAs can hold.

01:11 Regulation

SEC Guidance Says Liquid Staking Tokens and Buybacks Generally Fall Outside Securities Laws

SEC says liquid staking tokens and token buybacks generally aren’t securities The SEC said major crypto activities on functioning networks, including liquid staking tokens, token buybacks, and post-launch network maintenance, generally do not fall under U.S. securities laws. In new interpretive guidance, the agency said buybacks alone do not create an investment contract under the Howey test, but they could if paired with promotion of future price gains or returns.

23:40 Regulation

Circle’s Patrick Hansen Criticizes German Draft 50% Crypto Tax Assessment

Circle’s Patrick Hansen warns German crypto tax proposal could overtax retail users Circle’s Patrick Hansen criticized a draft German Finance Ministry crypto tax reform that would apply a 50% substitute assessment when taxpayers cannot provide credible purchase records for their crypto holdings. In that case, tax would be calculated on 50% of sale proceeds, a rule Hansen said could hit less crypto-savvy retail investors hardest, while tax lawyer David Hötzel noted the measure is not final but could create significant liquidity risks.

23:10 Regulation

SEC Commissioner Hester Peirce to Leave Agency as Term Ends on Oct. 2

SEC Commissioner Hester Peirce to step down on Oct. 2 Hester Peirce, who has led the SEC’s crypto task force since the start of President Donald Trump’s administration, said in a Sept. 25 resignation letter that she will leave the agency when her term ends on Oct. 2. Peirce helped define the SEC’s stance on staking, mining and memecoins and advanced the “Innovation Exemption,” a five-year framework for testing tokenized securities, while her exit leaves the commission with only Chair Paul Atkins and Mark Uyeda and could slow policy decisions.

17:11 Regulation

Binance to End UAH Services and Delist USDT/UAH Pair on September 28

Binance to end UAH services and delist USDT/UAH on Sept. 28 Binance said it will stop UAH deposits and withdrawals via Fiat Trade UAH and remove the USDT/UAH spot pair after Sept. 28, a move affecting its Ukrainian users. The exchange said open orders on the pair will be canceled when trading ends, and any remaining UAH balances will be automatically converted to USDT by Sept. 30.

15:11 Regulation

Crypto.com Seeks CFTC Approval for US Equity Perpetuals as CRO Gains

Crypto.com files with CFTC to launch US equity perpetuals Cronos token CRO rose about 6% on Friday after CEO Kris Marszalek said Crypto.com filed with the CFTC to list equity perpetuals in the US, following the SEC’s Form 1-N acknowledgement last week. Nadex, the group’s US derivatives exchange, is seeking to offer no-expiry stock futures tied to names including Apple, Amazon, Nvidia, Tesla and SpaceX, with CFTC approval required on a case-by-case basis.

11:11 Regulation

CFTC Clarifies How Crypto Margin Haircuts Work for Futures Intermediaries

CFTC updates crypto collateral guidance for futures intermediaries The CFTC on Sept. 24 updated its crypto activity FAQs to clarify that existing rules already let some qualifying futures intermediaries accept certain non-security digital assets as customer margin under Staff Letter 26-05, while tokenized versions of permitted investments and blockchain records remain subject to current safeguards. For most non-stablecoin crypto, firms must apply at least a 20% haircut, so a $100,000 position is recognized at $80,000 and can trigger a margin shortfall if prices fall.

09:14 Regulation

HTX and Binance Face New Sanctions Pressure Over Russia- and Iran-Linked Allegations

Offshore exchanges face fresh sanctions scrutiny HTX has been sanctioned by the EU and UK over alleged Russia-related sanctions activity, while US court filings named Binance in a case alleging two Hong Kong-based companies used accounts at the UAE-based exchange to launder proceeds from black-market Iranian oil sales. The US has not sanctioned Binance or taken direct action against it in that case, and Binance has denied wrongdoing, but both cases raise compliance and banking access risks for offshore exchanges.

06:40 Regulation

Hive Takes Swedish Bitcoin Mining VAT Dispute to European Commission

Hive Escalates Swedish Bitcoin Mining VAT Dispute to European Commission Hive Digital Technologies has taken its Swedish VAT fight to the European Commission after Swedish courts refused to refer the case to the EU’s top court. The dispute centers on whether Hive’s Swedish units were mining bitcoin for themselves, which falls outside VAT, or providing contracted computing power services to customers, a classification that affects VAT refunds and has been applied retroactively to miners since 2022.

04:11 Regulation

Securitize Shares Jump After SEC Opens Temporary Path for Tokenized Stock Trading

SEC tokenization exemption lifts Securitize shares Securitize (SECZ) rose more than 15% Friday to $16.53 after the SEC on Sept. 17 issued a five-year Innovation Exemption allowing tokenized securities venues to operate without registering as exchanges. The order also exempts some liquidity providers from dealer registration when supplying tokenized stock to AMM pools, extending SECZ’s rebound to 77% over five trading days and 158% over the past month.

02:10 Regulation

Tether Says EQIBank Exposure Is Under 0.034% as Offshore Bank Faces Liquidation Risk

Tether says EQIBank exposure is under 0.034% of assets Tether said funds held at offshore banking partner EQIBank are trapped but amount to less than 0.034% of its total assets, after the Dominica-licensed bank warned it could face liquidation. EQIBank is trying to recover about $89 million seized by US authorities from accounts tied to payment processor Capstone Ltd., a hit the bank says wiped out roughly 80% of its monetary holdings.

23:42 Regulation

Brazil Sets $10,000 Reporting Rule for Self-Custody Crypto Transfers

Brazil central bank tightens rules on self-custody crypto transfers Brazil’s central bank issued Resolutions 588 and 589 to expand AML/TF oversight of crypto, requiring authorized institutions to report transfers of virtual assets worth at least $10,000 to or from self-custody wallets. The rules also bar dealings with unauthorized virtual asset service providers in Brazil and take effect on Oct. 1, 2026, when the licensing deadline for VASPs expires.

23:11 Regulation

New York Sues Polymarket, Alleging Unlicensed Gambling in the State

New York sues Polymarket over alleged unlicensed gambling New York Attorney General Letitia James and Governor Kathy Hochul sued QCX LLC, operator of PolymarketUS, on Sept. 24, alleging its prediction-market contracts amount to gambling under state law and require Gaming Commission approval. The state wants Polymarket to stop operating and advertising in New York until licensed, and is seeking fines, forfeiture of profits, restitution for users, and at least a $100,000 penalty.

22:25 Regulation

Federal Reserve Opens Stablecoin Reserve and Bank Issuance Proposals for Comment

Fed opens stablecoin rule proposals under GENIUS Act The Federal Reserve has opened two public comment proposals that would set rules for stablecoin issuers it supervises, requiring tokens to be fully backed by permissible safe, liquid assets such as short-term Treasury bills, with standardized capital, risk-management and reserve custody rules. A second proposal would create an application process for Board-supervised banks seeking to issue stablecoins; comments close 60 days after publication in the Federal Register.