It looks like concerns about a regulatory "turf war" . We’re seeing more cooperation between the CFTC and SEC, particularly with respect to crypto. It’s notable that the main topics to be discussed during this roundtable deal primarily with contracts and 24/7 markets, as those appear to be heating up at the moment. Since the CFTC and the , it’ll be interesting to see what more the two agencies have to say on these fronts—perhaps the SEC getting on board to the extent they can?—or if…

There are some significant crypto rules being worked on by the SEC. The industry would certainly welcome more transparency.

The following rule proposals would have significant ramifications: (1) a crypto market structure amendment rule, dealing with crypto trading on ATSs and national securities exchanges, (2) a general crypto assets rule, dealing with potential safe harbors and general approaches to crypto, and (3) a Rule 144 amendment, which, while not explicitly related to crypto,…

The SIFMA directors identify key consumer protections, which are crucial to the functioning of any sound market.

More interesting, perhaps, is their consideration of the legal classification of tokenized securities.  The directors highlighted Commissioner Peirce's recent  on the question: "it must be clear to investors that they are purchasing a tokenized security with legal and beneficial ownership of an operating or investment company and not, as is the case in…

Crypto advocates have long sought to protect DeFi and self-custodial activities—it's a matter of privacy, they argue.

In the wake of the verdict, the crypto industry seems more convinced than ever that this issue is existential, explaining that DeFi developers and protocols are inherently different from the traditional financial system, and should be treated as such under the law.

Given that the GENIUS Act did not enact any protections for DeFi, the industry's eyes are on…