GUIDE: The Clarity Act (Crypto Regulation 2026)The Clarity Act is a major crypto market structure bill moving through Congress, aiming to define how digital assets are regulated in the US.Our research team broke down what the bill does, how oversight shifts between the SEC and CFTC, and what it could mean for crypto going forward. Read the full explainer below: ...

The U.K.’s long-promised crypto regulatory regime edged closer to reality this week, as the Financial Conduct Authority (FCA) unveiled its consultation that will ultimately define how crypto firms operate in Britain. Together with legislation from HM Treasury, the proposals form the backbone of a framework scheduled to take effect in October 2027. For policymakers, the objective is to balance growth and innovation with market integrity and consumer protection. For the industry, the challenge is navigating ...

🎙️ TUNE IN: UK crypto regulation is entering a major new phase.We unpack the FCA’s consultation on exchanges, staking, lending and DeFi with Perry Scott (@krakenfx), who explains what is changing, why the 2027 deadline matters and how clearer rules could shape the UK market.In @savannah_fortis latest Byte-Sized Insight. ...

Market Overview - The NASDAQ composite closed down 1.7%, the S&P 500 down over 1%, and the Dow Jones down nearly 0.5% [1] - The 10-year Treasury yield increased to 4.15%, and the US dollar strengthened, putting pressure on risk assets [2] - Technology stocks, particularly affected by Oracle's decline due to AI funding concerns, saw significant losses [2][4] Sector Performance - Energy sector showed a rebound, while technology stocks faced declines, with Nvidia down over 3% and Alphabet and Tesla down more than 4% [2][3] - Cryptocurrency market saw Bitcoin down 2% and Ethereum down over 4% [5] - Commodities performed well, with crude oil up more than 2% and gold and silver near all-time highs, with silver up 125% year-to-date and gold up 64% [6] Micron's Earnings Report - Micron reported Q1 adjusted EPS of $4.78, beating the expected $3.95, and revenue of $13.64 billion, surpassing the consensus of $12.95 billion [7] - Guidance for Q2 EPS is projected between $8.22 to $8.62, significantly above the expected $4.71, with revenues forecasted between $18.3 billion to $19.1 billion, compared to the consensus of $14.38 billion [8] - Gross margins are expected to be between 67% to 69%, exceeding the street estimate of 55.7% [8] Market Dynamics and Future Outlook - Micron's strong performance is attributed to high demand for memory chips, particularly for AI applications, leading to supply constraints and increased pricing [12] - Analysts remain optimistic about Micron, with 85% rating it as a buy, despite its stock already being up 170% this year prior to the earnings report [8] - The competitive landscape includes Micron, Samsung, and SK Hynix, with Micron positioned as a strong player in high bandwidth memory (HBM) [19] Consumer Credit Trends - Higher income households are seeing improvements in delinquency rates, attributed to better income growth and access to credit [41][42] - Middle income households are experiencing slower increases in delinquency rates, while lower income households face persistently high rates of 7% to 9% [44][45] - Delinquency rates for auto loans and student loans are at their highest since the last financial crisis, while mortgage-related debt remains lower than in the 2010s [50] Economic Indicators - Upcoming economic data includes the November Consumer Price Index (CPI), with forecasts of total and core CPI at 3.1% and 3% year-over-year, respectively [57] - Earnings reports from major companies like Accenture, Nike, and FedEx are anticipated, with Nike expected to see a sales rebound in the second half of the year [58]

Core Viewpoint - The UK's Financial Conduct Authority (FCA) is prioritizing the growth and innovation of the financial sector by finalizing rules for digital assets and enhancing the digital finance infrastructure by 2026 [1] Group 1: FCA's 2026 Plans - The FCA plans to finalize rules for digital assets and advance UK-issued stablecoins [1] - Initiatives include overseeing the launch of variable recurring payments and supporting SME lending through open finance [1] - The strategy aims to maintain the UK's position as a leading financial hub while adapting to technological changes [1] Group 2: Government and Treasury Support - UK Chancellor of the Exchequer Rachel Reeves and Treasury officials support the FCA's approach, which aims to provide clarity for firms while fostering innovation [2] - The UK government is preparing to bring all cryptocurrency firms under the existing financial regulatory framework by October 2027 [3] Group 3: Legislative Developments - The upcoming legislation will extend the UK's current financial services rules to the crypto sector, covering exchanges, custody providers, and stablecoin issuers [4] - If passed, the legislation would provide significant regulatory clarity for both domestic and international firms in the digital asset industry [5] Group 4: Market Oversight and Efficiency - The FCA aims to oversee digital asset markets and provide clear guidance for crypto firms [6] - Plans include enabling asset managers to tokenize funds and adopt more efficient payment systems [6] - The FCA intends to streamline authorizations for new and scaling firms to improve access to capital and support competition [6]

Core Insights - Bitcoin has reached the anticipated $100,000 mark before experiencing a decline, with many cryptocurrencies losing value over the past year despite 2025 being a significant year for digital assets [1] - The focus for the crypto industry in 2026 is expected to shift from price cycles to structural developments, driven by regulatory clarity and institutional participation [2][8] Regulatory Developments - Positive regulations in the U.S., including the passage of the Clarity Act and the implementation of the EU's MiCA framework, are anticipated to act as growth catalysts for the crypto space in 2026 [2][3] - The U.S. is expected to create a regulated environment that enhances dollar dominance, transforming digital assets into a fully integrated asset class [4][5] - The GENIUS Act is expected to provide clarity on stablecoins, which will facilitate institutional participation in the crypto market [8] Market Trends - There is a consensus that growth in the crypto market will come from infrastructure developments, particularly those that enable safe investment in yield-bearing cryptocurrencies [9][10] - Projects that focus on liquidity infrastructure and yield strategies are predicted to attract significant institutional and retail investment [11] Emerging Themes - Key themes for investors in 2026 include the rise of prediction markets, the launch of a euro stablecoin by a consortium of European banks, and the convergence of identity and payments through blockchain technology [13][14] - The integration of open-source AI on-chain is expected to gain traction, providing a competitive edge over closed models [14] Industry Challenges - The crypto industry still faces challenges in educating the public about its value proposition compared to traditional financial services [15] - There is a need for applications that demonstrate real usage and value creation to drive adoption and retention in the market [16][17] - The success of projects in 2026 will depend on their ability to merge utility and scalability with real-world relevance [18]

Core Insights - Avalanche (AVAX) has experienced a significant decline of -91% from its all-time high of $158 in early 2022, with a recent drop of -4.2% [1] - The token has fallen from being a top 15 cryptocurrency by market cap to 32nd, with its valuation decreasing from over $30 billion to $5.3 billion [2] Regulatory Developments - Ava Labs, the developer of Avalanche, recently met with the US SEC to discuss regulatory oversight of crypto assets, particularly protocol tokens [3] - The meeting included representatives from Ava Labs, Sidley Austin LLP, and the Blockchain Association, focusing on regulatory challenges and potential pathways for harmonizing crypto oversight [4] - A proposed two-part regulatory approach suggests that the SEC would classify initial token sales as investment contracts, while the CFTC would regulate tokens functioning in live systems as commodities [5] Industry Perspectives - Ava Labs and its partners emphasized the need for regulatory clarity on protocol tokens, consistent disclosure, and responsible innovation to protect investors [6] - Despite the ongoing price decline of AVAX, the meeting with the SEC is viewed as a potentially positive sign for the future of crypto regulation [6] - As of mid-December, AVAX trades around $12.5, maintaining above a long-standing demand zone, with historical support at this level [7]

UK aims to regulate crypto like financial products by 2027 https://t.co/bXZAF045HP ...

Core Insights - The Office of the Comptroller of the Currency (OCC) has conditionally approved national trust bank charters for five major crypto companies, marking a significant shift in crypto regulation [1][2][4] Group 1: OCC Approval Details - The OCC granted conditional approvals for two new national trust banks: First National Digital Currency Bank and Ripple National Trust Bank [2] - Existing state trust companies BitGo Bank & Trust, Fidelity Digital Assets, and Paxos Trust Company received conditional approval to convert to national trust banks [2] Group 2: Impact on the Crypto Industry - The approval is seen as beneficial for consumers, the banking industry, and the economy, according to Comptroller of the Currency Jonathan V. Gould [3] - This move opens opportunities for U.S. banks to act as intermediaries in the crypto space, potentially enhancing innovation in financial services [4] Group 3: Trends in Charter Applications - There has been a dramatic increase in charter applications in 2025, with 14 companies applying, compared to an average of fewer than four per year from 2011 to 2024 [5] - This surge indicates a growing interest in federal banking supervision among crypto firms [5] Group 4: Company-Specific Developments - Circle's approval allows it to establish First National Digital Currency Bank, which will manage the USDC Reserve and provide digital asset custody services [6] - Ripple's charter positions it to operate as a federally regulated digital asset custodian, enhancing regulatory clarity for its operations [7] - BitGo can now offer regulated crypto services nationwide, simplifying its compliance with state licensing requirements [8] Group 5: Broader Market Context - The OCC's decision aligns with trends in institutional adoption of crypto and regulatory activities, such as Nasdaq's SEC filing to trade tokenized equities and ETPs [9]

There are hundreds if not thousands of intermediaries and hundreds of thousands [music] of issuers that can follow the securities laws. Why can't crypto? Even past that, we would sit down with these issuers and companies and say, "What are the technical reasons. What is it about the technology you need us to change. Is it settlement.Is it that you need stable coins to be able to trade for settlement on ATS's. what is it that you need us to fix in these regulations for this to work. And we actually got a lot ...