Coinbase, Kalshi and Other Firms Back CFTC in Fight Over Stock Perpetuals
A dispute over who may regulate perpetual futures linked to individual US stocks is drawing some of crypto’s most prominent companies into federal court. Coinbase, Kalshi, Kraken parent Payward, DRW, Jump Trading and Paradigm have sought permission to support the Commodity Futures Trading Commission in litigation brought by the Capital Markets Alliance Association. Their proposed…
SEC Staff Gives Canton Coin No-Action Relief, but the Conditions Matter
TL;DR: Canton Coin received an important piece of US regulatory clarity on November 3 when staff in the Securities and Exchange Commission's Division of Corporation Finance issued a no-action response. The staff said, based on representations made to it, that Canton Coin fits the description of a digital commodity in the Commission's March interpretation. Canton…
FinCEN Moves to Cut MEXC Global Off From US Banks Over Alleged $16B Illicit Flows
TL;DR: The US Treasury’s Financial Crimes Enforcement Network says MEXC Global facilitated at least $16 billion in transactions linked to illicit activity and has issued a special measure prohibiting US financial institutions from processing transfers involving the exchange. The finding is a regulator’s allegation, not a judgment against every MEXC user. The sharpest crypto enforcement…
FinCEN Withdraws Proposed Crypto Travel Rule Expansion in Separate November Move
TL;DR: FinCEN and the Federal Reserve are withdrawing a proposed expansion of US recordkeeping and Travel Rule requirements that would have covered certain convertible virtual currency transfers and lowered a cross-border transfer threshold. The withdrawal removes a proposal; it does not cancel existing anti-money-laundering obligations. Two announcements issued by the same US agency on November…
Circle’s USDC Transaction Volume Rises 49% Even as Reserve Income Faces Pressure
TL;DR: Circle reported $13.9 trillion of USDC onchain transaction volume in the third quarter of 2026, up 49% year over year, while average USDC circulation reached $73.3 billion. The issuer’s results show strong network activity, but that does not translate directly into equivalent revenue growth. Stablecoin businesses are often judged by a single number: how…
Nigeria Sets New Stablecoin Licensing Rules and Capital Requirements
TL;DR: Nigeria’s central bank issued a new framework on November 5 for non-security virtual assets, with separate stablecoin licences tied to naira and foreign-currency tokens. The rules introduce reserve, capital and local-presence obligations and ban certain algorithmic designs. This is a payments-regulation story, not a blanket legalisation of every crypto activity. Nigeria is moving from…
SEC’s Crypto Custody Proposal Could Change How Funds Hold Digital Assets
TL;DR: The SEC has proposed a tailored crypto custody framework for advisers and regulated funds, but the changes are not yet final. The conversation about crypto access inside conventional investment funds is increasingly focused on custody. An SEC proposal released October 1 would modernise parts of the federal rules affecting how registered advisers and regulated…
Britain’s Crypto Licensing Clock Is Already Running Ahead of 2027 Start
TL;DR: The FCA opened its crypto authorisation gateway on September 30 and asks firms planning to continue operating to apply by February 28, 2027. For crypto businesses serving UK customers, next October’s rulebook begins to matter this autumn. The Financial Conduct Authority opened its authorisation gateway on September 30, starting the period in which firms…
ESMA Draws a Hard Line Around Non-Compliant Stablecoins in EU Services
TL;DR: ESMA says EU-licensed crypto service providers should cease services involving stablecoins that do not meet MiCA requirements. A stablecoin does not need to be issued in Europe to create a European compliance problem. ESMA’s October 8 opinion tells authorised crypto-asset service providers to stop offering clients services involving asset-referenced or e-money tokens that fall…
Robinhood Sets A 2027 Middle East Launch Target After DFSA Authorization
Robinhood announced DFSA authorization and a Dubai International Financial Centre headquarters on October 22, with a Middle East rollout planned for 2027. Regulatory permission precedes customer availability. TL;DR The announcement concerns a planned regional rollout. Permissions, product terms and local funding arrangements will shape actual access. Crypto, shares and investment tokens can carry different rights…