NewsFeeds: Regulation
Crypto regulation news: SEC and CFTC actions, new laws and court rulings worldwide, rewritten by AI in our own words, credited and linked.
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Mon 2 Nov
Custodia asks US Supreme Court to hear Fed master account appeal
Custodia Bank has filed its final reply brief urging the US Supreme Court to review the Federal Reserve's refusal to grant it a master account, arguing the Monetary Control Act of 1980 requires the Fed to serve eligible nonmember banks. The 10th US Circuit Court of Appeals previously sided with the Fed, with Judge Timothy Tymkovich dissenting.
SEC updates token classification FAQ, a16z's Miles Jennings says
Miles Jennings, general counsel at a16z, says the SEC's corporate finance division updated its token classification FAQ on 2 November, clarifying decentralised governance through entities such as DUNA, permissioned versus permissionless systems, and the line between functional and decentralised.
Previous related news
- SEC staff says broad governance participants generally are not centralised entities
- SEC issues FAQ on crypto token classification, touching on CLARITY Act decentralisation
- Former prosecutor says SEC crypto FAQ is nonbinding and offers no legal protection
Kim Yo Jong calls Binance incident a US political provocation, says Pyongyang is watching
Kim Yo Jong, North Korea's Kim Yo Jong, described the Binance incident as a US political provocation and said Pyongyang is watching closely.
Warren and Curtis ask Kalshi and Polymarket how they guard election contracts
Senators Elizabeth Warren and John Curtis wrote on 28 Oct to Kalshi's Tarek Mansour and Polymarket's Shayne Copeland, asking how they stop improper influence on 2026 midterm contracts. Researchers found traders with inside political information made $143m on Polymarket between 2024 and 2026.
K33 says Binance losses from fines and hacks may equal 56% of five-year pretax profit
K33 senior analyst Vetle Lunde said Binance's fines and hacking-related losses totalled about $10.7bn, roughly 56% of the $19.2bn pretax profit NewsBitcoin estimated for 2021-2025. Fines alone came to about $4.34bn, including a 2023 US criminal settlement, a $6.9m Australian fine and a $750,000 Turkish fine.
New Jersey withdraws staking lawsuit against Coinbase
Coinbase's legal team says New Jersey has dropped its staking-related lawsuit and lifted an order barring the service, so staking for the exchange's users there is expected to resume soon after a suspension since June 2023. Restrictions remain in California, Maryland, Washington and Wisconsin.
Crypto.com to close Hong Kong consumer app on 1 February 2027
Crypto.com will shut its Hong Kong consumer app on 1 February 2027, telling users in advance and pledging help with account closures and orderly fund withdrawals. A spokesperson said the move aims to optimise global operations; its pending licence application through Foris DAX HK Limited is unaffected.
NYSE adds four transfer agents to network for issuer-sponsored tokenised securities
NYSE has added Broadridge, Computershare, Equiniti and Superstate to its transfer agent partner network to support issuer-sponsored tokenised securities, joining Securitize and tZERO. Its planned tokenisation platform, announced in January, has not yet launched and will go live once regulators approve it.
OKXICE says 50 companies oppose its tokenised-stock plan, including Nvidia
OKXICE, a joint venture of OKX and Intercontinental Exchange, said 12 more companies including Nvidia, Costco, Nike, Reddit and CrowdStrike object to its tokenised US stock plan, bringing objections to 50 of 63 planned names, about 79%.
Trump says he would consider pre-emptive pardons for Musk and allies
US President Donald Trump said he would consider pre-emptive pardons for Elon Musk and his associates if Democrats retake Congress after the midterms, to shield them from congressional investigations. He cited Joe Biden's pre-emptive pardons as precedent and named Edward Coristine, who worked on Musk's Department of Government Efficiency cost-cutting programme.
Israeli industry figures warn Netanyahu crypto sanctions proposal would harm Web3
After Israeli Prime Minister Benjamin Netanyahu proposed using crypto to evade potential bank sanctions, the central bank objected and industry chiefs Tomer Sharoni of Addressable and Ran Hammer of Orbs warned of extra scrutiny from overseas exchanges and banks. Sharoni called for a regulatory sandbox and a licensing regime aligned with MiCA and FATF travel rules.
Previous related news
- Israeli economists warn Netanyahu against crypto sanctions-evasion plan
- Eisenkot says Netanyahu's cryptocurrency vision threatens Israeli national security
- Bank of Israel says crypto cannot be used to bypass sanctions
Hong Kong Monetary Authority launches post-quantum cryptography toolkit
The Hong Kong Monetary Authority and the Hong Kong University of Science and Technology have launched a post-quantum cryptography toolkit to help banks prepare for the quantum era.
US Senate Democrats say X gives Polymarket preferential treatment
US Senate Democrats accused Elon Musk's X of giving prediction market Polymarket preferential treatment, saying users cannot select a reporting reason for Polymarket ads through X's standard interface, unlike ads such as Kalshi's.
HKMA launches Project SAGE for agentic finance and forms expert panel
The Hong Kong Monetary Authority launched Project SAGE to promote responsible agentic finance, with an expert panel drawn from finance, technology, professional services and academia. It will study consumer, business and machine-to-machine use cases, agent identity checks such as Know Your Agent, interoperability standards and legal and regulatory issues.
Animoca Brands unit wins Abu Dhabi licence for collective investment funds
Animoca Brands says its subsidiary Animoca Asset Management (AD) Limited has received a financial services permission from Abu Dhabi Global Market's FSRA to manage collective investment funds in or from ADGM. The licence is to support work on blockchain infrastructure, tokenised assets and AI agents combined with Web3.
South Korea to tax offshore US stock perpetual futures profits at 11%
South Korea's Ministry of Economy and Finance will treat US stock-linked perpetual futures traded on overseas crypto exchanges as overseas equity derivatives and tax profits at 11% from next year, half the 22% rate on overseas spot stocks, after a 2.5m won basic deduction, Maeil Business Newspaper reported.
Previous related news
- Lee Kang-il says government will submit Digital Asset Basic Act in November
- Park Min-kyu calls for virtual-asset tax delay and swift passage of Digital Asset Framework Act
- Bae Jun-young presses Democratic Party to settle crypto tax delay before 2 Nov review
China's Mao Ning says she has no information on Binance attack or Trump's North Korea remarks
Chinese foreign ministry spokesperson Mao Ning said she was not aware of the matter when asked about the FBI's 31 October statement blaming North Korea for the Binance hack, in which about $6.3bn of assets were stolen, and about Donald Trump's remarks on it.
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