Crypto

Bitwise, Hyperliquid urge U.S. SEC to clarify token and trading rules

Asset manager Bitwise and the Hyperliquid Policy Center urged the U.S. Securities and Exchange Commission to clarify rules on token classification, airdrops and secondary market trading. They said existing rules are unclear as the SEC considers its proposed crypto asset regulation, which includes exceptions for certain fundraising and a conditional safe harbor for tokens tied to investment contracts. Other commenters urged the SEC to withdraw the proposal entirely.

Crypto

U.S. regulators rush pro-crypto rules, with court review and change of administration as variables

The U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission have rolled out a series of pro-crypto rules, accelerating market institutionalisation. A new issue is whether the measures can withstand court review and a change of administration. Formal rules grounded in legal authority may be more durable, while interpretive guidance and FAQs can be revised or withdrawn more easily. Analysts and lawyers cite tighter judicial scrutiny and past policy reversals as key risks.