Bitcoin futures regulation in the United States is back in focus after the Commodity Futures Trading Commission (CFTC) confirmed the return of a senior official who once helped shape the market. The move comes as lawmakers prepare to pass new digital asset rules and federal agencies adjust their role in crypto oversight. Amir Zaidi Returns to CFTC In a major move, Amir Zaidi has been named chief of Staff at the Commodity Futures Trading Commission, ending a six-year absence from the agency. His return ...

Core Viewpoint - Australia's securities regulator, ASIC, has introduced temporary exemptions for digital asset businesses, facilitating their operations while a comprehensive overhaul of the country's crypto framework is underway [1][2]. Group 1: Exemptions and Regulatory Changes - ASIC has finalized class relief for intermediaries involved in the secondary distribution of certain stablecoins and wrapped tokens, allowing them to operate without separate Australian financial services licenses [2][3]. - The relief extends to custody, permitting providers to hold tokenized financial products in omnibus accounts, a practice previously restricted in the crypto sector [2][4]. - The exemption is contingent upon firms maintaining proper records and reconciliation procedures, as outlined in ASIC's updated digital-asset guidance [3][5]. Group 2: Industry Feedback and Consultation - ASIC's decision follows a consultation process that began on October 29, which included feedback from five non-confidential submissions, with industry groups generally supporting the plan but seeking clearer definitions and broader eligibility [4][6]. - In response to industry feedback, ASIC expanded the scope of the exemptions to include tokens issued by entities that have applied for licenses [4]. Group 3: Transition Period and Future Legislation - ASIC has adopted a sector-wide no-action stance until June 30, 2026, allowing companies time to review the new guidance, submit license applications, or adjust their operations [6]. - The temporary relief is expected to last until mid-2028, by which time the government aims to implement legislation addressing tokenized payments and custody structures [7].

Core Insights - Bridge, the stablecoin infrastructure arm of Stripe, has applied for a national trust bank charter to enhance its operations in the stablecoin sector [1][2] - The proposed charter would allow Bridge to issue, redeem, and custody stablecoins under a federal regulatory framework, facilitating the tokenization of trillions of dollars [2][3] - The application follows the passage of the GENIUS Act, which establishes a regulatory framework for stablecoin issuers, requiring them to maintain 100% reserves and prioritize token holder rights [3][6] Industry Context - The rush for federal bank charters in the stablecoin sector is gaining momentum, with other companies like Circle, Ripple, and Coinbase also applying for national trust licenses [4][5] - The filing by Bridge is seen as a significant step towards federal recognition of digital asset infrastructure in the U.S., potentially setting a precedent for interoperability between on-chain liquidity and off-chain oversight [6]