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Crypto

U.S. SEC opens path to 24-hour trading in tokenised stocks; Michael Saylor calls it a major breakthrough

The U.S. Securities and Exchange Commission has unveiled a temporary regulatory framework allowing secondary market trading of tokenised U.S. stocks. The framework permits trading through tokenised stock vendors that meet certain conditions and allows use of automated market maker liquidity pools. It also requires underlying smart contracts to be public, auditable and run on a public, permissionless distributed ledger. Strategy chairman Michael Saylor called the move a major breakthrough and highlighted 24-hour on-chain trading.

Crypto

Next crypto bull market: can one airdrop be enough? Big candidates line up

Large airdrops could help drive early inflows in the next cryptocurrency bull market by sending tokens directly to users and recycling them back into markets, an analysis said. Examples cited include Uniswap’s UNI distribution in 2020, Jito’s JTO airdrop in 2023 and Hyperliquid’s HYPE distribution in 2024. Potential future candidates mentioned include Polymarket, Coinbase’s Base and Circle’s ARC, though outcomes remain uncertain.

Crypto

Bernstein says U.S. CLARITY bill revote unlikely, focus shifts to follow-up rules

After a U.S. Senate cloture vote failed on the CLARITY bill, which would set rules for digital asset markets, Bernstein forecast the Securities and Exchange Commission and Commodity Futures Trading Commission would accelerate rulemaking. It expects agencies to fill the legislative gap with administrative rules covering token classification, DeFi and self-custody developer protections, tokenised equities exemptions, RWA perpetual futures approvals and sports event contract swap classifications. Bernstein sees a revote as unlikely due to a tight Senate schedule and ethics concerns.