Regulation & Politics

Peirce also wants institutions to reuse identity checks rather than repeatedly store customer details. Her privacy proposals do not change existing compliance rules.

Treasury, State and DFC could participate in public-private ventures aimed at strengthening the dollar and demand for US debt.

The two groups submitted a joint proposal to Commissioner Hester Peirce for a safe harbor that would create a rebuttable presumption that decentralized exchange protocols and their front-ends are not exchanges under the Exchange Act. a16z filed a second letter the same day asking the SEC to build a registration regime for centralized crypto trading platforms modeled on the 1998 alternative trading system rules. Both letters are dated Sept. 14, three days before the SEC issued its Innovation Exemption for tokenized stock venues.

The super PAC’s biggest 2026 commitment follows a failed 49-50 cloture vote on CLARITY; Brown could return to the top Democratic post on Senate Banking.

The Securities and Exchange Commission issued a five-year conditional exemption on Thursday letting tokenized National Market System (NMS) stock trade on permissioned automated market makers (AMMs), and Commodity Futures Trading Commission staff opened introducing-broker relief to passive software providers across the industry the same morning. Both actions came two days after the Senate blocked the CLARITY Act and a day after the two chairmen said they would write crypto rules without it. Uniswap's token rose 19.8% over 24 hours.

Cloture on the motion to proceed to H.R. 3633 fell 11 votes short of the 60 it needed. All 49 votes to proceed came from Republicans. Collins, Hawley, Moran and Tillis voted no, and Tillis voted no to preserve the right to move to reconsider, which he did a minute after the result was announced. Polymarket cut the odds of the bill becoming law this year to 6.5% from 29.5% on Monday.

The ethics division drops the Jan. 20, 2029 sunset, reverses the July text's bar on state attorney general enforcement, and raises civil penalties from 10% of the take or $500,000, whichever is less, to 20% or $500,000, whichever is greater. The bans on issuing and sponsoring digital assets reach only assets created after the law takes effect, up to 360 days after enactment. No Democrat has endorsed the text.

The Sept. 10 substitute adds CFTC registration and Bank Secrecy Act obligations for trading protocols that are not decentralized, limits the DeFi title to spot and cash digital commodity transactions, and clarifies what credit unions may do with digital assets. The seven Senate Democrats who have negotiated the bill for a year have not withdrawn the statement of opposition they issued in July.

A pending exemptive application would let ARK Venture Fund record ownership of a new share class using distributed ledger technology and trade it on registered ATS venues. Hearing requests are due Sept. 18.

The Wyoming Stable Token Commission adopted Chainlink Proof of Reserve for the Frontier Stable Token on Sept. 2. FRNT's total supply is 967,948 tokens, about 0.2% of the 508.7 million the Commission projected to the state legislature as its base case.