Bitwise Asks SEC To Protect Funds Relying On Token Status Filings
TL;DR: Bitwise filed a supplemental SEC comment seeking clearer protection for firms that rely on token-status filings. The October 21 letter develops its earlier proposal; it is an industry request, not an adopted rule. Bitwise is pressing the Securities and Exchange Commission to answer a question that matters to fund managers: when can a firm…
Google’s Updated UAE Crypto Advertising Rules Take Effect
TL;DR: Google’s updated rules for UAE-targeted crypto exchange and wallet ads took effect October 21. Advertisers need an accepted local license and Google certification; the policy is not blanket permission for all crypto promotions. Crypto exchanges and software-wallet providers targeting customers in the United Arab Emirates now face the licensing and certification conditions set out…
Crypto Industry Group Asks Treasury To Clarify GENIUS Act Rules For DeFi
TL;DR: The Blockchain Association has urged the US Treasury to draw clearer lines around DeFi software, foreign stablecoin issuers and who could face liability under proposed GENIUS Act rules. The fight over US stablecoin regulation is shifting from Congress to the details of implementation. In comments on Treasury’s proposed Section 3 rules under the GENIUS…
Latvia Changes Crypto Tax Treatment And Opens A 2027 Declaration Window
Latvia has passed a change to the way crypto investment-account gains are taxed, shifting attention from individual trades to what an investor ultimately withdraws from an eligible account. TL;DR: New Latvian legislation taxes qualifying account withdrawals above deposits and provides a one-time 2027 process for declaring older holdings. The country is also considering crypto tax…
Fidelity Pays $500,000 In California Crypto Withdrawal Settlement
California has secured a $500,000 settlement with Fidelity Digital Asset Services over restrictions that previously prevented some crypto customers from moving purchased coins to their own wallets. TL;DR: Attorney General Rob Bonta announced the settlement on October 16. California challenged historical withdrawal restrictions; Fidelity disputes that its conduct breached state law, and transfers were enabled…
European Banking Authority Puts USDC Under Significant-Token Supervision
The European Banking Authority has designated USDC as the EU’s first significant e-money token under MiCA, setting up an additional layer of supervision for Circle’s euro-area issuing entity. TL;DR: The classification was announced on October 14. From November 12, the EBA takes direct responsibility for specified prudential areas of USDC supervision, while French regulators retain…
South Korea Faces Fresh Push To Delay Crypto Gains Tax Until 2029
South Korea is approaching another decision point on its long-delayed cryptocurrency gains tax, with exchanges and policymakers preparing to discuss whether the January 2027 start date is realistic. TL;DR: The country’s planned crypto tax has already been deferred three times. A new proposal would push implementation toward 2029, but no additional delay has been enacted.…
Crypto Giants Feature In $210 Million Political Donations Report As Regulatory Scrutiny Grows
TL;DR: An October 8 Public Citizen report links corporations and individuals benefiting from cancelled federal enforcement actions to approximately $210.5 million in donations and pledges to Trump-aligned political committees. Major cryptocurrency companies feature among the reported contributors. A report examining corporate political donations and changes to federal enforcement has placed several major cryptocurrency businesses under…
FinCEN Withdraws Crypto Rules Targeting Mixers And Unhosted Wallets
TL;DR FinCEN has withdrawn two proposed digital-asset rules covering unhosted-wallet transactions and convertible virtual currency mixing. Both proposals had remained unfinished for years and would have added new recordkeeping or reporting obligations for financial institutions. The withdrawals do not remove the AML and KYC rules that already apply to regulated crypto businesses. Two long-running U.S.…
CFTC Opens Rulemaking Push For Retail Leveraged Crypto Markets
TL;DR The CFTC has opened an advanced rulemaking process around retail commodity transactions involving crypto assets. The agency is asking for public input as it considers a more comprehensive federal framework for leveraged and margined retail crypto markets. This is an early-stage rulemaking step, not a final licensing regime that takes effect immediately. The Commodity…