Digital Assets archive
Every Digital Assets story, newest first. 479 stories
16 stories
- Regulation
With CLARITY dead, two agencies write one rulebook at two speeds
The SEC has a comment deadline and the CFTC has two directives and no proposal, leaving the venue half of U.S. crypto rules as the half with nothing on the docket.
- Tokenization
Ondo's broker-dealer joins Fund/SERV, the fund industry's distribution pipe
The first tokenization participant on a network that predates the current debate buys distribution reach no chain replicates, with no fund, distributor, or launch date attached.
- Regulation
House tax panel advances crypto tax bill 38-5 after Clarity failure
The 38-5 committee vote gives crypto a win the week its market-structure bill died, but five legislative weeks leave the tax fix as momentum rather than law.
- Regulation
Payward asks the CFTC to bless perps matched onchain
The Kraken parent would list Hyperliquid-matched perps on Bitnomial and clear through NinjaTrader, leaving CFTC approval as the only gate.
- Regulation
Clarity dies at 49-50, and the industry settles for rescindable rules
Agency rulemaking is the only live path now, and the durability the bill promised is precisely what the vote removed.
- Regulation
Payward builds the onshore perp out of licenses it bought
If the CFTC lets a HIP-3 contract trade under Bitnomial's rules, an offshore public blockchain's order book reaches U.S. clients with agency accountability attached — and the accommodation lasts only as long as the commission.
- Crypto ETFs & funds
The week's most telling filings were the two with nothing in them
Circle and a Tether-Aave-Avalanche-Anchorage vehicle registered with no assets, while Theo's $40 million silver lease book showed the funded version.
- Adoption
Iris bets carriers are the distribution stablecoins never had
A live Bolivian deployment gives Iris a case study, a family office's $43 million, and churn numbers the next carrier has to repeat.
- Tokenization
Theo's tokenized silver is a lease book in a wrapper
The $40 million beta launch moves commodity carry off dealer balance sheets and into a token, where counterparty credit is the hard part.
- Tokenization
Aave's RWA hub is a governance test before it is a lending market
Aave Labs' plan to let institutions borrow in USA₮ against tokenized collateral on Avalanche rests on a DAO proposal that has not been posted and on collateral that has not arrived.
- Adoption
Kraken's parent builds a regulated door onto Hyperliquid
Payward is pricing the permissioned account that lets a US institution touch a public chain without leaving its compliance perimeter, with the perpetual contract as the familiar shell.
- Adoption
Two Prime's bitcoin vault sells first loss, not yield
The Axiom WBTC Yield Vault opens with a $10 million first-loss slice, a $250,000 minimum and $104 million of wrapped-bitcoin capacity.
- Crypto ETFs & funds
Bitcoin ETFs shed $450m as the rulebook turns revocable
With market-structure legislation dead for the year, spot bitcoin funds now trade on agency discretion, and their flows track the Senate calendar.
- Tokenization
Arc is a distribution deal disguised as a blockchain
Circle's founding validators are the moat, and the 21-bank dollar stablecoin of 2027 is where the argument gets scored.
- Custody & Infrastructure
Deutsche Bank's crypto custody bet is the relationship, not the rails
A short debut asset list and a client-demand caveat mark a follower's strategy in European institutional custody — and a defensible one.
- Regulation
Clarity Act dies at cloture, and the rulebook moves to the agencies
The 49–50 Senate vote leaves market-structure definitions to the SEC and CFTC, where rules are cheaper to write and cheaper to rewrite.
23 stories
- Regulation
Senate's Clarity Act fails 49-50, and certainty shifts to the SEC
The eleven-vote miss hands market structure to agency rulemaking, which is quicker to write and quicker to reverse than a statute.
- Regulation
Clarity Act fails 49-50, and the agencies inherit the rulebook
With the bill dead, the durability institutional allocators were buying now rests on two commissions whose rules the next administration can rewrite.
- Regulation
Clarity Act falls 49-50, and the crypto exit stays unwritten
With the statute dead, the SEC's exemptions and a narrow tokenization approval are the whole rulebook—and neither can answer how a token trades after issuance.
- Regulation
Clarity Act fails, leaving agencies the rulebook
Without a statute, every charter, ETP rule and venue accommodation the industry is building on stays revocable by the regulator that granted it.
- Tokenization
Kamino hires a distribution CEO to sell tokenized lending
A Manhattan headquarters and a finance bench answer the easy half of the business; the match between PRIME deposits and borrowers is the harder one.
- Regulation
Clarity Act's ethics fix is paperwork, not a firewall
Two of the bill's hardest provisions, ethics and stablecoin interest, were rewritten hours before a 60-vote gate, and the ethics text already shows the shape of what the last votes bought.
- Regulation
Senate's crypto market-structure vote turns on seven senators
A failed motion costs the bill its place in the queue and leaves custody charters and issuer-controlled settlement rails as the framework the market actually runs on.
- Adoption
Kamino is buying distribution, and the ratio will judge it
The Solana lender's institutional pitch rests on curator-run isolated markets — the same segmented design Compound is selling — and on whether fresh deposits find matching borrowers.
- Regulation
A failed Clarity Act vote leaves tokenized equities with Congress
The procedural vote is leverage for both parties, but its cost lands on the one product the agencies have already refused to hand a compliance path.
- Regulation
Clarity Act's fate now rides on riders, not definitions
Republicans rejected a Democratic counteroffer hours before the Senate's 60-vote cloture test, and prediction markets cut the Clarity Act's 2026 odds from about 30% to 14%.
- Regulation
Atkins moves the crypto rulebook to the SEC's own docket
Three SEC rulemakings — custody, transfer agents, issuance — will bind platforms whether or not the Senate advances the Clarity Act.
- Regulation
Crypto's unglamorous tax bill reaches its first markup
Ways and Means votes Wednesday on 114 pages of de minimis relief, wash-sale treatment, and broker reporting that will decide whether institutions can hold digital assets at book scale.
- Regulation
Eighteen AGs put preemption at the center of the Clarity Act
The sponsors can trade text with gaming tribes; a state-police-powers savings clause is the harder ask, and the letter urges a no vote until it exists.
- Adoption
Visa, Circle and Ripple put $10 million into the back end
Three incumbent rails bought a cheap position in the settlement layer behind cards, and the $200 million mark already assumes routing follows.
- Adoption
Stack BTC will pay for bitcoin with a gold dealer's cash flow
The £12 million proposal is worth three times the treasury's 68 bitcoin, which makes the gold dealer the larger enterprise and Stack a holding company with a coin position attached.
- Regulation
A Failed CLARITY Vote Would Speed Wall Street's Crypto Buildout
The market-structure bill is a tailwind rather than the precondition, and failure pulls the 2027-28 tokenization calendar forward instead of parking it.
- Regulation
The digital euro's binding constraint is merchant economics
The ECB's 2029 target depends on retail acceptance and unfinished law, neither of which the pilot can settle.
- Regulation
Banks want the stablecoin rewards line drawn first
Eight banking groups spent the last day before the Senate vote trying to narrow a stablecoin rewards loophole, but the circuit breaker they're attacking is time-boxed and small — and that scope is the tell.
- Regulation
House crypto tax bill reaches institutions, then hits the calendar
A 114-page tax text takes up the accounting questions funds and advisors need answered; the House recess is likely to kill it before those answers become law.
- Regulation
Clarity Act's ethics rewrite buys a vote, not a stablecoin yield fix
The new ethics language removes the Democratic objection that stalled the Senate's market-structure bill, leaving the yield fight that sank it once before as the only live dispute.
- Tokenization
Bitget Wallet shelves its own tokenized stocks beside Ondo's
The widest retail shelf for tokenized equities now belongs to a group that issues the product sitting on it.
- The Wrap
S&P's calculation layer becomes the tokenized-asset price
Ten institutions are financing the valuation convention their custodians will inherit, while Kraken's leveraged credit strategy puts depositor principal at risk for a 2% yield.
- Adoption
Fin.com's $20 million seed is a bet on payout corridors
The white-label rails that move digital dollars into local bank accounts are stablecoins' unglamorous half, and the half incumbents have been buying rather than building.
1 story
- Regulation
Atkins names the crypto rule's hardest question, then hands it to Congress
The SEC's proposed crypto rule can write the entrance to a U.S. token offering; its chair has just said Congress must write the exit.