Core Insights - Banxa Holdings Inc. has secured regulatory approval for the Markets in Crypto Assets (MiCA) license in the Netherlands, enabling it to operate as a regulated crypto asset service provider across the European Union, thereby expanding its global regulatory footprint [1][4][3] Regulatory Developments - The Netherlands has implemented a grandfathering regime allowing eligible crypto-asset service providers to continue operations temporarily without immediate MiCA authorization, with Banxa's subsidiary, EU Internet Ventures B.V., already registered with De Nederlandsche Bank since 2020 [2] - Banxa holds Money Transmitter Licences in 37 U.S. states, along with existing licenses in the UK, Canada, and Australia, reinforcing its commitment to compliant digital asset infrastructure [3] Business Growth and Transactions - The MiCA approval is seen as a significant step in Banxa's global compliance journey, particularly in the European market, which is crucial for digital asset innovation [4] - Banxa is progressing towards completing a plan of arrangement with OSL Group Limited, where the Purchaser will acquire all issued common shares of the Company for cash consideration of C$1.55 per Share [4][5] - As of now, Banxa has received change of control approval for money-transmitter licenses in 26 out of 37 U.S. states, with remaining approvals expected by October 31, 2025 [5] Future Steps - The hearing for the final order to approve the arrangement by the Supreme Court of British Columbia is anticipated to be scheduled soon after the Extraordinary General Meeting of the Purchaser's shareholders on October 22, 2025 [6]

Regulatory Leadership - Hong Kong SFC CEO Julia Leung is set to serve another three-year term [1] - Since 2023, she has tightened oversight [1] - She has expanded crypto regulation to support Hong Kong's role as a trading hub [1] Market Activity - Hong Kong SFC CEO Julia Leung has boosted IPO activity [1]

Core Viewpoint - Coinbase has applied for a national trust charter with the U.S. Office of the Comptroller of the Currency, aiming for federal regulatory oversight to enhance its custody business and offer additional services without becoming a full-service bank [1][2]. Group 1: Regulatory Moves - The national trust charter would allow Coinbase to expand its financial services, such as crypto payments, without needing state-by-state approvals [3]. - This application aligns with a trend among crypto companies, including Circle, Ripple, and Paxos, seeking federal supervision this year [3]. Group 2: Current Operations - Coinbase's existing regulated custody service operates through Coinbase Custody Trust Company, which is licensed under New York state's BitLicense regime, established in 2015 [2]. - The company emphasizes that it does not intend to become a bank, focusing instead on innovation within a clear regulatory framework [2].

Clarity Act Overview - The Clarity Act is a market structure bill aiming to clarify which regulator (SEC or CFTC) should oversee crypto by defining blockchain, digital assets, digital commodities, and mature blockchain systems [1] - The Act introduces "investment contract assets," allowing tokens to switch categories over time based on decentralization [1] - It guarantees the right to self-custody, ensures existing trade rules remain unaffected, and encourages global AML frameworks for crypto [1] - The bill allows projects to raise up to $75 million per year without SEC registration if they aim to become decentralized commodities within 4 years [1] Legislative Progress and Challenges - The Clarity Act was introduced on May 29th by Representative French Hill and passed by the House with a 294 to 134 vote, but requires Senate approval [1] - Senate Democrats are calling for increased collaboration on the bill, facing opposition from figures like Senator Elizabeth Warren [2] - The appointment of Brian Quinten as CFTC chair was stalled, creating uncertainty around the agency's regulatory approach [2] - Competing bills like the Responsible Financial Innovation Act (RFIA) offer different approaches to crypto regulation [2] - Poly Market estimates a 31% chance of the Clarity Act being signed into law by the end of 2025, down from 87% in mid-July [4] Potential Impacts and Alternatives - Rejection of the Clarity Act could cause market uncertainty and a potential price crash, possibly triggering a bear market [4] - The SEC and CFTC have launched initiatives like Project Crypto and a crypto sprint to regulate the crypto industry within their existing authority [4] - Even without the Clarity Act, new legislation or alternative structures are likely to emerge to regulate the crypto industry [5][6] Potential Bearish Implications - The Clarity Act could allow TradeFi investors to dominate the crypto ecosystem, potentially conflicting with crypto's decentralized ethos [8][9] - The Genius Act requires US stablecoin issuers to be trade entities, handing control of stablecoins to traditional financial institutions [9] - Mega banks are building their own blockchains and tokenized payment rails, potentially becoming the new gatekeepers of crypto [10][11]

Regulatory Landscape - Anticipated crypto regulation will be slowed due to the US Government Shutdown [1] - U S Securities and Exchange Commission is operating in accordance with the agency's plan for operating during a government shutdown [1]

Core Insights - Société Générale is actively engaging in decentralized finance (DeFi) by integrating its euro and dollar stablecoins with major DeFi platforms like Uniswap and Morpho, marking a significant step beyond pilot projects in the banking sector [2][3][4] Company Developments - SG Forge, the digital assets arm of Société Générale, has integrated its USDCV and EURCV stablecoins with Uniswap, which has a monthly trading volume exceeding $100 billion, and Morpho, a lending protocol with $11 billion in deposits [2] - The integration allows institutional clients to swap stablecoins and other crypto assets on Uniswap and to lend and borrow against them through Morpho [2][3] Industry Trends - The DeFi lending sector is gaining traction, with deposits to DeFi lending protocols reaching an all-time high of $130 billion in early September, indicating a strong demand for decentralized lending solutions [3] - Other banks, such as Credit Suisse and Standard Chartered, are also exploring digital assets and tokenization, reflecting a broader trend in the banking industry towards embracing DeFi and digital currencies [5] Regulatory Environment - Recent regulatory developments, including the European Union's MiCA rules and new stablecoin regulations in the US, are fostering a more favorable environment for banks to engage with digital assets [6] - Future regulations, such as the planned market structure bill in the US, are expected to further encourage banks to explore DeFi initiatives, although potential delays due to government shutdowns may impact this [6]

🇺🇸 LATEST: The SEC Crypto Task Force met with NYSE and Intercontinental Exchange to discuss crypto regulation including crypto derivative products and tokenized equities trading. https://t.co/3IzYwKG6Qj ...

Group 1: Robinhood Performance - Robinhood shares surged over 12% to an all-time high, driven by CEO Vlad Tenev's announcement of surpassing 4 billion event contracts traded on its prediction markets [4][9] - Analysts from Piper Sandler cited the growth in prediction markets as a reason for raising their price target on Robinhood's stock [4] Group 2: Market Overview - Major U.S. equities indexes experienced modest gains, with the S&P 500 advancing 0.3%, the Dow increasing by 0.2%, and the Nasdaq rising by 0.5% [3] - The overall market sentiment was influenced by the potential implications of a government shutdown later in the week [3] Group 3: Other Notable Stock Movements - Shares of Western Digital rose by 9.2% following price target increases from Morgan Stanley and Rosenblatt Securities, attributed to growing demand for hard drives in support of artificial intelligence [5] - Coinbase Global's shares gained 6.8% as the price of Bitcoin and other major cryptocurrencies increased, with regulatory clarity around crypto being advocated by SEC Commissioner Hester Peirce [6] - AppLovin's shares jumped 6.3% to a record high after Morgan Stanley raised its price target, highlighting the upcoming launch of Axon Ads Manager [7] Group 4: Negative Stock Movements - Shares of Vistra fell by 4.5% after announcing a power supply agreement for its Comanche Peak nuclear facility, raising concerns due to a lack of information about the buyer [11] - Carnival's shares dropped 4% despite reporting strong bookings, as the company issued a lower-than-expected forecast for net yields [12] - Williams-Sonoma's shares sank 4.7% following President Trump's announcement of potential tariffs on imported furniture, negatively impacting businesses reliant on imports [10]

For more than a century, the United States and the United Kingdom have been amongst the most influential nations in finance, working together to create the playbook for global trade and markets. Today, that partnership is entering a new phase as both countries commit to closer cooperation on digital assets—a gambit that could further entrench Washington and London at the vanguard of global finance, even as hubs like Singapore and Dubai emerge as formidable challengers. This latest U.S.-UK tie-up comes via ...

Regulatory Developments - The UK and the U.S. have launched the Transatlantic Task Force for Markets of the Future to enhance regulatory cooperation on digital assets and capital markets [2] - This initiative aims to harmonize rules between the UK and U.S., focusing on a unified approach to tokenization and crypto oversight [3] Legislative Actions - In the U.S., twelve Senate Democrats are advocating for bipartisan support for a significant market structure bill, highlighting the $4 trillion scale of the digital asset market [4][5] - SEC Chair Paul Atkins is urging lawmakers to expedite the market structure bill, with the White House reportedly setting a deadline for its passage [5] Retirement and Innovation Exemptions - Lawmakers are pushing the SEC to implement measures that would allow the $12.5 trillion 401(k) retirement market to include alternative assets like crypto [6] - The SEC is also preparing to introduce an "innovation exemption" by year-end, aimed at facilitating the launch of new crypto products without immediate compliance challenges [7] Increased Scrutiny and Leadership Changes - U.S. authorities are intensifying scrutiny on suspicious trading activities related to corporate crypto treasury announcements, warning against selective disclosure of material information [8] - The Senate Finance Committee has scheduled a hearing to discuss digital asset taxation, indicating a potential crackdown on the industry [8] - The White House is considering new candidates for leadership positions at the Commodity Futures Trading Commission, with several former officials under consideration [9]