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Crypto

U.S. banks call for stablecoin rules to cover secondary market trading

U.S. banking groups have urged regulators to clearly extend anti-money laundering rules for stablecoins beyond issuance to secondary market trading. The crypto industry has pushed back, warning that imposing responsibility for transactions issuers cannot control could shrink the DeFi ecosystem. The debate centres on who should monitor transfers after issuance, including movements between exchanges, DeFi protocols and private wallets, and how far regulatory responsibility should reach.

Crypto

Clarity Act faces last-minute hurdles as Galaxy Digital CEO travels to Washington

Prospects for the CLARITY Act, seen as key legislation for the U.S. crypto market, are tied to three issues: the scope of regulation for Web3 developers, resistance from law enforcement agencies and a tight congressional schedule. Galaxy Digital CEO Mike Novogratz went to Washington for urgent meetings, aiming to pass the bill within 4 weeks before the summer recess. Polymarket odds for passage in 2026 fell to 48 percent from 62 percent.

Crypto

U.S. CLARITY bill keeps clashing over crypto ethics, momentum cools rapidly

The U.S. Senate’s CLARITY crypto market structure bill is losing momentum amid a partisan fight over how to enforce ethics provisions. A key dispute is whether state attorneys general should be able to sue the Justice Department if the federal government fails to enforce crypto ethics rules. Some Republicans and the White House have stepped back from earlier enforcement proposals, while Democratic senators who backed the bill in committee are not promising support on the Senate floor.