Regulatory Landscape - Tyler Winklevoss of Gemini states that Trump's CFTC pick, Quintenz, holds "disqualifying" views [1]

Tyler Winklevoss has 'serious concerns' over Trump's pick to lead the CFTC, Brian Quintenz https://t.co/G3XT8dqdZV ...

RT Crypto In America (@CryptoAmerica_)🚨EXCLUSIVE: We sat down with @BoHines, Executive Director of the White House Crypto Council, inside the @WhiteHouse to dig into the Administration’s new crypto report.Beyond breaking down the document’s key recommendations, we tackled today’s hottest topics — from Brian Quintenz’s pending nomination as CFTC chairman, to the Roman Storm trial, and what’s next on the White House’s crypto agenda.TIMESTAMPS:0:00 - Welcome Bo Back To The Show!0:31 - Overview of the White Hou ...

According to Bloomberg, President Trump’s digital asset working group released a report on July 30 urging regulators to clarify rules on crypto trading, custody, and registration, and to give the CFTC authority over non-security spot markets. A government official said the White House will soon release more details on the Strategic Bitcoin Reserve. https://t.co/ukd8uMKG60 ...

Gambling Landscape & Regulatory Scrutiny - Gambling interest is expected to continue growing [1] - The gambling landscape is rapidly evolving with new wagering methods beyond traditional sports books and slot machines [2] - Sweepstakes gaming, where players use virtual coins but can buy in with real money, is facing increasing regulatory pressure [2] - More than a dozen states have issued cease and desist letters against sweepstakes, and several states are considering or have already banned them [3] - California Attorney General has deemed daily fantasy sports illegal gambling, though this is disputed [4][5] Prediction Markets & Potential Conflicts - Prediction markets, involving buying and selling contracts on event outcomes, are emerging, with companies like Crypto[6]com, Robin Hood, and Koshi pushing for sports trades on these platforms [5][6] - These prediction markets are regulated by the Commodity Futures Trading Commission (CFTC), and proponents argue they are not gambling but predictions, thus falling under federal jurisdiction [6] - 34 state attorneys general have joined an amicus brief to prevent Koshi from operating in New Jersey, indicating strong opposition [7] - The American Gaming Association, NBA, and MLB express concerns that prediction markets could undermine sports integrity and consumer protection [8] Tax Implications & Offshore Gambling - A proposed provision in the OBB would allow gamblers to deduct only 90% of their winnings, potentially leading to owing taxes even without a profit [9] - This tax situation could incentivize gamblers to use offshore platforms, potentially benefiting companies like Koshi, where losses are treated as investment losses [10]