CFTC press release 9315-26, issued 27 October 2026, announces that the Commission has sued to stop the State of Utah from using state laws to shut down CFTC-registered contract markets. The complaint linked from the release is captioned United States of America and Commodity Futures Trading Commission v. State of Utah and Derek Brown, in his official capacity as Utah Attorney General, was filed on 26 October 2026 in the United States District Court for the District of Utah, Central Division, and carries case number 2:26-cv-01055. It pleads a single count under the Supremacy Clause, asserting that Utah gambling, election, public nuisance and common law are expressly, field and conflict preempted by the Commodity Exchange Act as applied to event contracts listed on CFTC-regulated designated contract markets. The plaintiffs request a declaratory judgment that the Utah laws at issue are preempted, unconstitutional and invalid as applied to transactions on CFTC-regulated designated contract markets; preliminary and permanent injunctions barring the defendants and their successors, agents and employees from investigating CFTC-regulated entities and their affiliates or partners for violating those laws, or from enforcing them, as so applied; an award of costs and fees; and any other relief the court deems just and proper. The release states that the Commission has initiated legal proceedings against nine other states and has filed briefs in four federal courts of appeals and one state supreme court.
An OFAC recent-actions notice dated 26 October 2026 states that OFAC is amending several frequently asked questions as part of an ongoing review to keep published guidance current, and that the batch covers blocking and rejecting transactions and filing reports with OFAC. The notice enumerates the amended set as FAQs 10, 32, 33, 34, 35, 36, 41, 42, 49, 50 and 53. The amended FAQs restate existing practice. Blocked funds must be placed into an interest-bearing account from which only OFAC-authorised debits may be made, must earn interest at a commercially reasonable rate, and must be reported to OFAC within 10 business days. A transaction that is prohibited but in which no blockable interest exists is rejected and returned to the originator rather than blocked. Blocked and rejected transactions are reported through the OFAC Reporting System within 10 business days of the action, with supporting records such as payment instructions or invoices attached, and holders of blocked property also file annual reports, for which FAQ 50 records a 30 September deadline. A U.S. financial institution that receives an account application and initial deposit from a person on the Specially Designated Nationals List must decline to open the account and block the deposit. An organisation may notify its customer that it has blocked property and may identify the sanctions programme or regulations under which it did so. None of the eleven amended FAQs, and no part of the notice itself, refers to digital assets, virtual currency or any other crypto-asset activity.
On 2026-10-26 the Department of the Treasury's Departmental Offices published a Federal Register notice requesting public comment on an extension of the currently approved information collection "Notice to Account Holder for Garnishment of Accounts Containing Federal Benefit Payments," OMB control number 1505-0230. The collection covers the notice a financial institution must give an account holder under 31 CFR 212.6 when a garnishment order reaches an account receiving directly deposited federal benefit payments, stating that a protected amount has been established and that funds above it are subject to garnishment, and describing the order, the protected amount, any fee charged and the account holder's rights. The burden estimate also covers garnishment recordkeeping under 31 CFR 212.11 and attaching a Notice of Right to Garnish Federal Benefits to certain child support orders. Comments are due on or before 2026-12-28.
Trade coverage published October 21, 2026 reports that the California Department of Financial Protection and Innovation filed a comment letter objecting to the Securities and Exchange Commission's proposed Regulation Crypto Assets, which would exempt certain digital-asset offerings from securities registration. The coverage states that the department argues the exemptions could supersede state registration requirements and limit California's ability to apply its own securities laws, and that the letter warns investors could lose protections against fraudulent or abusive offerings. The coverage does not state the letter's filing date, gives no file number and quotes no passage of the letter. A law-firm regulatory tracker dated October 22, 2026 separately records the same event and dates it October 22, 2026. The proposal is SEC File No. S7-2026-27, RIN 3235-AN38, and its comment period closed October 20, 2026. The department's own press release announcing the letter could not be retrieved, and no corresponding comment document was located on the SEC docket.
The SEC Division of Trading and Markets published a page dated October 20, 2026 titled Frequently Asked Questions on the Innovation Exemption. It addresses the conditional exemptive order at Securities Exchange Act Release No. 106402 (September 17, 2026), 91 FR 60168 (September 22, 2026), File No. 4-927, which grants relief from the Exchange Act Section 3(a)(1) definition of exchange for certain distributed ledger trading venues trading tokenized NMS stocks, and from the Section 3(a)(5) definition of dealer for certain liquidity providers in tokenized NMS stocks. The FAQs state that such a trading venue must post its Notice prominently on its public website at least 30 calendar days before it begins operating, and must amend the Notice afterward to keep its disclosures current. They state that a venue may list a tokenized NMS stock in its public Notice as pending once Issuer Notice has been given, but may not trade that stock until the 30-day objection period ends; that if a timely Notice of Issuer Objection is received the venue must say so in its Notice and may not trade that stock; and that if no timely objection is received the venue may make the stock available and must update its Notice. The FAQs also state that the Commission publishes a list of persons that have given written notice of intent to operate under the exemption. The page states that the FAQs represent the views of Staff, are not a rule, regulation, or statement of the Commission, and create no new or additional obligations for any person.
A comment letter dated October 20, 2026 from the New York State Office of the Attorney General, Investor Protection Bureau, signed by Attorney General Letitia James and addressed to SEC Secretary Vanessa A. Countryman, was filed in SEC File No. S7-2026-27 in response to the proposed Regulation Crypto Assets, 161 Fed. Reg. 54,510 (August 21, 2026). The letter states that the Commission should withdraw the Proposal in its entirety. It further asks that the proposed startup exemption require financial statements; that issuers be required to file disclosure information on EDGAR rather than only on a website; that individuals, groups and decentralized unincorporated nonprofit associations not be permitted to use the exemption; that lockups for insiders and holding-period restrictions for early venture capital investors be imposed; that any exemption should not in any way infringe on states rights to pursue issuers that fail to comply with state registration requirements; and that market surveillance mechanisms and self-regulatory oversight be added. The letter is submitted by the New York Attorney General office alone, with no co-signers listed. It is a comment submission in a pending rulemaking, not an enforcement action.
Reporting by Covers (October 22, 2026) and Legal Sports Report (October 21, 2026), and a Holland and Knight client alert (October 21, 2026), states that the Ohio Casino Control Commission issued a letter dated October 20, 2026, confirmed at the Commission meeting of October 21, 2026 and signed by interim executive director Andromeda Morrison, addressed to Ohio licensees and applicants including sports gaming proprietors, management and mobile management services providers, fantasy contest operators, suppliers, key employees of those entities, certified independent integrity monitors and certified independent testing laboratories. The reporting quotes the letter as stating that offering sports event contracts to persons located in Ohio constitutes sports gaming under Ohio law and may not be conducted without appropriate licensure from the commission; that the Commission is deeply concerned that some licensees continue to facilitate, support, or otherwise provide services to entities offering such contracts; and that maintaining suitability is a continuing obligation of licensure which reflects on the licensee character, integrity, honesty, and reputation. According to the reporting, recipients must immediately cease providing such support, with liquidity provision, market making, integrity monitoring, and equipment, data security and technology services named; must notify the Commission that they are in compliance by October 30, 2026; and must preserve records supporting their responses. The reporting states that licensees that also operate as futures commission merchants or introducing brokers remain compliant if they block Ohio customers from directly or indirectly accessing sports event contracts, and that non-compliance could prompt reopened suitability investigations and licence suspension or revocation. The letter itself is not posted on the Commission website and was not retrieved.
In press release 2026-109 dated October 23, 2026 the U.S. Securities and Exchange Commission announced that its Division of Examinations has released its examination priorities for fiscal year 2027, covering more than 34,000 registrants. Among the Division's focus areas the release lists risks arising from evolving market infrastructure, "including Treasury clearing reforms, tokenization, and related developments." The release states that the priorities reflect examination observations, market developments, investor concerns and emerging trends, and that they are not an exhaustive list of what the Division will examine. It also states that the Division will work to make registrants' experience with examination observations more accessible and will strengthen its coordination with the Commission's policymaking divisions and with other regulators. The press release does not use the terms crypto asset, digital asset, stablecoin, payments or fintech, and states no deadline. The underlying priorities report was not retrieved, so these facts are drawn from the press release alone.
registered investment advisers and broker-dealers with tokenized asset activity, transfer agents, trading venues, and compliance teams planning for fiscal 2027 examinations
The Office of the Comptroller of the Currency's final rule on payment stablecoin issuance by OCC-supervised entities was published in the Federal Register on October 23, 2026 as document 2026-21706, at 91 FR 67000 and running to page 67194, under RIN 1557-AF41 and docket number OCC-2025-0372. The published DATES section reads: "The final rule is effective on January 18, 2027." The same October 23, 2026 edition of the Federal Register also carries the two associated OCC information-collection notices: document 2026-21705, on the weekly and quarterly reporting forms for permitted payment stablecoin issuers and foreign payment stablecoin issuers, and document 2026-21704, on the licensing or registration application forms to issue payment stablecoins under the GENIUS Act.
prospective and permitted payment stablecoin issuers, national banks and federal branches, custodians and reserve managers, and payment processors integrating stablecoin settlement
Federal Register document 2026-21715, filed for public inspection and scheduled to publish on 23 October 2026, is a notice from the Departmental Offices of the United States Department of the Treasury concerning OMB Control Number 1545-0108, titled "U.S. Information Returns and Related Forms, Schedules, Attachments, and Published Guidance." The notice states "Type of Review: Revision of a currently approved collection," an Estimated Number of Respondents of 79,536,100 and Estimated Total Time (Hours) of 140,987,248. Among the forms the collection covers, the notice names Forms 1098, 1099-B, 1099-DA, 1099-DIV, 1099-INT, 1099-MISC, 1099-NEC, 1099-R, 5498 and W-9, together with related forms, schedules and attachments; a fuller appendix list includes Forms 1042, 1096, 1042-S and 1099-K. The appendix entry for the digital asset form reads "1099-DA Digital Asset Proceeds From Broker Transactions 1545-2330," and a second appendix cites Treasury Decision 10000 on digital asset basis reporting. The notice states that comments should be received on or before a date 30 days after publication in the Federal Register to be assured of consideration; the filed document carries a bracketed placeholder rather than a calendar date. The respondent and burden figures stated above are collection-wide totals across all covered forms and are not specific to digital asset reporting.
Federal Register document 2026-21705, filed for public inspection and scheduled to publish on 23 October 2026, is an OCC notice and request for comment on a new information collection titled "Reporting Forms and Instructions for Permitted Payment Stablecoin Issuers Subject to the Jurisdiction of the Office of the Comptroller of the Currency," carrying the placeholder OMB Control No. 1557-NEW. It covers two forms. Form PS-01 is a weekly confidential report on payment stablecoin activity and reserves required under 12 CFR 15.14(h), filed separately for each payment stablecoin issued, with a reporting period running from 12:00 a.m. Eastern each Tuesday to 11:59:59 p.m. Eastern the following Monday and a filing deadline of Wednesday at 5:00 p.m. Eastern. Form PS-02 is a quarterly report of condition and income required under 12 CFR 15.14(i), for which senior management and the board must attest to the accuracy of the data. The notice states that PS-01 reporting begins with the 25 January 2027 report date and PS-02 with the 31 March 2027 report date, and that the first quarterly report covers the quarter ending 31 March 2027 and is due no later than 30 April 2027. Issuers with under one billion dollars in outstanding issuance including affiliates, no current formal enforcement proceeding or order, and full compliance with reserve and reporting requirements may report only the last day of the period, Monday, for certain schedules. The notice states that under the final rule foreign payment stablecoin issuers must file the same reports as domestic issuers and may request exemptions case by case. Comments are due 30 days after Federal Register publication; the filed document carries a bracketed placeholder rather than a calendar date.
Federal Register document 2026-21704, filed for public inspection and scheduled to publish on 23 October 2026, is an OCC notice and request for comment on a new information collection titled "Applications for Licensing or Registration to Issue Payment Stablecoins Under the GENIUS Act," carrying the placeholder OMB Control No. 1557-NEW. The collection comprises new application forms an entity must complete to obtain OCC approval as a permitted payment stablecoin issuer under 12 CFR 15.30, or to register with the OCC as a foreign payment stablecoin issuer under 12 CFR 15.32. The notice states an application must include an overview of the applicant, a detailed business plan, information on proposed activities, reserve policy, redemption policy and risk management, and a certification that the submitted materials contain no material misrepresentations or omissions. Permitted payment stablecoin issuer applicants must also submit Interagency Biographical and Financial Reports for each director, executive officer and principal shareholder. Foreign issuer registrants must submit evidence of comparable regulation under section 18 of the GENIUS Act, a consent to United States jurisdiction, and a commitment to provide information the OCC requires. The notice records the affected public as businesses or other for-profit entities, a frequency of "on occasion," 40 estimated respondents, 40 estimated annual responses and 4,915 estimated annual burden hours. Comments are due 30 days after Federal Register publication; the filed document carries a bracketed placeholder rather than a calendar date.
Federal Register document 2026-21658, filed for public inspection and scheduled to publish on 23 October 2026, is a United States Department of Agriculture Food and Nutrition Service proposed rule under Docket FNS-2025-0137, RIN 0584-AE99, titled "Supplemental Nutrition Assistance Program: Electronic Benefits Transfer Card Security Measures." As described in the document, the proposal would require EBT cards to be issued with chip and near-field-communication technology, which the document notes is also known as tap-to-pay or contactless payment, within a proposed two-year implementation window after a final rule; print the card security code on the card and the primary account number on the back; issue cards inactive until the recipient activates them; require entry of the card security code and expiration date for online purchases; disallow common PINs such as sequential, repeated or birth-year-based PINs; require States to offer account options including blocks on out-of-State, online or all transactions, and transaction alerts; require verification for interactive-voice-response balance inquiries; require multifactor authentication for State EBT systems; limit manual vouchers to significant EBT connectivity problems such as outages or disasters; require EBT vendors to monitor and block unauthorized terminals; require twelve months of transaction history including retailer names and related account activity; and remove offline EBT system references and prohibit interchange fees on EBT transactions. The document refers to card skimming and to skimming of magnetic stripe data, to SNAP EBT mobile payments, and to third-party payment processors in its description of the X9 EBT Card Industry Forum. Comments are due 60 days after Federal Register publication; the filed document carries a placeholder rather than a calendar date.
A CFTC notice published in the Federal Register on October 22, 2026 (document 2026-21581) announces a submission to the Office of Management and Budget for review of an extension of the currently approved information collection under OMB Control No. 3038-0092, "Customer Clearing Documentation and Timing of Acceptance for Clearing." The collection covers 17 CFR part 1 for futures commission merchants (sections 1.72 through 1.74), part 23 for swap dealers and major swap participants (sections 23.606 through 23.610), and part 39 for derivatives clearing organizations (sections 39.12 and 39.20). The notice states that comments must be submitted on or before November 23, 2026.
A CFTC notice published in the Federal Register on October 22, 2026 (document 2026-21579) announces a submission to the Office of Management and Budget for review of the information collection under OMB Control No. 3038-0097, "Process for Review of Swaps for Mandatory Clearing." The notice ties the collection to Commission Regulation 39.5, which it states sets forth the process for those submissions. The notice states that comments must be submitted on or before November 23, 2026.
On October 21, 2026 the Office of the Comptroller of the Currency issued News Release 2026-92 announcing a final rule implementing the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act). The accompanying OCC Bulletin 2026-50, titled GENIUS Act Regulations: Final Rule, states that the rule adds a new 12 CFR part 15 addressing permissible activities, reserve assets, redemption, risk management, audits and supervision, transition for state-qualified issuers, custody, applications and registrations, supervision of foreign payment stablecoin issuers, revocation or rescission of approval, and capital and operational backstop requirements, and that it revises 12 CFR parts 3, 6, 8 and 19. The release states that the rule applies to permitted payment stablecoin issuers and foreign payment stablecoin issuers subject to OCC jurisdiction and to certain custody activities by OCC-supervised entities, and that it covers all OCC regulations required by the GENIUS Act except those concerning the Bank Secrecy Act, anti-money laundering and OFAC sanctions, which the OCC states will be addressed in a separate rulemaking with the Department of the Treasury. The effective date stated for the final rule and for the GENIUS Act is January 18, 2027. The OCC states that it will separately announce when it begins accepting and processing applications and waiver requests. Bulletin 2026-50 cites 91 Fed. Reg. 10202 (March 2, 2026) as the notice of proposed rulemaking.
OCC Bulletin 2026-51, dated October 21, 2026 and titled GENIUS Act: Waivers and Application Submission Guidance, states that an entity must be approved as a permitted payment stablecoin issuer beginning January 18, 2027, and that an issuer with a substantially complete application pending on or before that date may request a waiver. The bulletin states that the OCC generally expects to grant such waiver requests unless its review identifies more compelling reasons to deny them, and that it expects to limit the length of any waiver granted. The bulletin states that the OCC will begin accepting applications and waiver requests after the Office of Management and Budget approves the related information collection and will announce that by press release, that applicants must provide complete information in the relevant application form, and that the OCC will determine whether an application is substantially complete within 30 days.
OCC Bulletin 2026-52, dated October 21, 2026, finalizes an information collection consisting of weekly and quarterly reporting forms and instructions for permitted payment stablecoin issuers and foreign payment stablecoin issuers registered with the OCC. The bulletin states that the forms were first proposed in June 2026 (OCC Bulletin 2026-24, 91 Fed. Reg. 35795, June 12, 2026) and that the revised forms reflect comments received on the proposal and changes made in the final rule the OCC issued the same day. Comments on the information collection are requested within 30 days of its publication in the Federal Register. Subject to approval by the Office of Management and Budget, the bulletin states that the collection takes effect with the January 25, 2027 report date for the weekly form and the March 31, 2027 report date for the quarterly form.
Federal Register document 2026-21492, a Commodity Futures Trading Commission notice published at 91 FR 66549 on October 21, 2026, requests comment on the extension of OMB-approved information collection 3038-0091, Disclosure and Retention of Certain Information Relating to Cleared Swaps Customer Collateral, which the notice states implements section 4d(f) of the Commodity Exchange Act as added by section 724(a) of the Dodd-Frank Act and the requirements of 17 CFR part 22. The notice states that the collection covers daily computation of cleared swaps customer collateral and residual interest under section 22.2(g), depository acknowledgment letters under section 22.5(a), transmission of customer identification and portfolio information and the calculation of required collateral under sections 22.11 and 22.12, disclosure to customers of governing default and collateral provisions under section 22.16, and written notice of certain withdrawals exceeding 25 percent of residual interest under section 22.17. The notice reports 95 respondents, consisting of 71 futures commission merchants and 24 derivatives clearing organizations, approximately 314 burden hours per respondent and 29,830 total annual burden hours, states that two comments were received on the earlier 60-day notice, and states that comments on this notice are due November 20, 2026.
The SEC proposed rule "Regulation Crypto Assets" was published in the Federal Register at 91 FR 54510 on August 21, 2026 as document 2026-17183, under Release Nos. 33-11434 and 34-106150, File No. S7-2026-27, RIN 3235-AN38. The document's DATES section states that comments should be received on or before October 20, 2026. The Federal Register record for the same document reports a comment close date of October 20, 2026.
In a release dated October 14, 2026, the Pennsylvania State Police announced that enforcement of the state's skill games law began that day, following the Supreme Court of Pennsylvania's June 15, 2026 ruling that skill games are "slot machines" under the Gaming Act and the expiration of the deadline for businesses to remove unauthorized devices. The release states that devices located outside facilities licensed by the Pennsylvania Gaming Control Board are unlawful, and that establishments may face prosecution and immediate seizure as of October 14, 2026. It cites Section 5513 of the Crimes Code as to distributors and manufacturers who maintain, make, sell or lease slot machines without Gaming Control Board authorization. The release states that turning off, unplugging or temporarily disabling a machine does not stop it from being a slot machine. It states that the State Police have reached agreements with six skill games operators or distributors, with agreements with several other distributors pending, under which devices are rendered inoperable from October 14, 2026 and removed on a timeline with inventory and weekly reporting. The release does not state how many devices or establishments are affected, and does not name any operator or distributor.
The Commodity Futures Trading Commission notice of proposed rulemaking under RIN 3038-AF82 published in the Federal Register on October 19, 2026 at 91 FR 66022 as document 2026-21377. The document's DATES section states "Comments must be received by November 18, 2026." The proposal would further define "swap" to expressly cover event contracts, including contracts on sports, politics, cultural events and weather. The document carries no effective date because it is a proposal, and the action is recorded as "Notice of proposed rulemaking." The document runs from page 66022 to page 66033 of volume 91. This proposal and the interim final rule published the same day at 91 FR 65969 are separate documents with separate legal status: the interim final rule is adopted and excludes casino-style gambling products from the swap definition, while this document is a proposal only and would include event contracts.
The Commodity Futures Trading Commission interim final rule under RIN 3038-AF81 published in the Federal Register on October 19, 2026 at 91 FR 65969 as document 2026-21376. The document's DATES section states "Effective Date: This interim final rule is effective October 19, 2026" and "Request for comment: Comments must be received by November 18, 2026." The SUMMARY states that the Commission "is adopting an interim final rule" to codify its longstanding position that casino-style gambling products, including wagers placed on sportsbooks and casino games, are excluded from the "swap" definition. The action is recorded as "Interim final rule; request for comments." The document runs from page 65969 to page 65979 of volume 91. When this rule was filed for public inspection on October 16, 2026, its text carried unfilled brackets in place of both dates; the dates above are taken from the published document.
A Treasury press release dated October 19, 2026 states that FinCEN identified approximately $270 million in suspicious financial activity potentially linked to fraud against federal student aid programs. It states that financial institutions have filed nearly 100 suspicious activity reports since FinCEN's July 2026 alert on fraud schemes targeting Office of Federal Student Aid programs, and that FinCEN's review identified more than 20,000 potentially suspicious transactions covering the period since February 2026. The release states that FinCEN referred its findings to federal investigators and law enforcement as tip-and-lead information, and that the reported figures reflect only what institutions identified and reported and are not a complete measure of the activity.
Federal Register document 2026-21275, a CFTC notice published at 91 FR 66110 on October 19, 2026, seeks public comment under the Paperwork Reduction Act on the Commission's intent to extend the existing information collection 3038-0093, which covers Part 40 of the CFTC's regulations, "Provisions Common to Registered Entities". The Federal Register record for the document reports a comment close date of December 18, 2026.
The Commodity Futures Trading Commission filed an interim final rule, "Further Definition of 'Swap' to Exclude Casino-Style Gambling Products" (RIN 3038-AF81, 17 CFR part 1), for public inspection with the Federal Register on October 16, 2026 at 8:45 a.m. ET as document 2026-21376, a 37-page document scheduled for publication on October 19, 2026. The SUMMARY states that the Commission "is adopting an interim final rule to codify its longstanding position that casino-style gambling products, including wagers placed on sportsbooks and casino games, are excluded from the 'swap' definition." The DATES section states that the interim final rule is effective on the date of publication in the Federal Register and that comments must be received 30 days after the date of publication. The public inspection text carries unfilled date brackets, so no calendar effective date or comment deadline appears on the face of the document. Comments reference RIN 3038-AF81 and are submitted through Regulations.gov or to the Secretary of the Commission. A companion notice of proposed rulemaking, RIN 3038-AF82, was filed in the same minute.
The Commodity Futures Trading Commission filed a notice of proposed rulemaking, "Further Definition of 'Swap' - Inclusions" (RIN 3038-AF82, 17 CFR part 1), for public inspection with the Federal Register on October 16, 2026 at 8:45 a.m. ET as document 2026-21377, a 36-page document scheduled for publication on October 19, 2026. The SUMMARY states that, "[c]onsistent with its jurisdiction over swaps," the Commission "is proposing to further define the term 'swap' to explicitly include event contracts, including those based on sports-, politics-, cultural-, and weather-related events." The DATES section states that comments must be received 30 days after the date of publication in the Federal Register; the public inspection text carries an unfilled date bracket, so no calendar comment deadline appears on the face of the document. Comments reference RIN 3038-AF82. A companion interim final rule, RIN 3038-AF81, excluding casino-style gambling products from the swap definition, was filed in the same minute.
The Securities and Exchange Commission published Release No. 34-106648, File No. SR-CboeBZX-2026-082, in the Federal Register on October 16, 2026 at 91 FR 65809. The notice covers a Cboe BZX Exchange, Inc. proposed rule change, filed September 29, 2026 and designated non-controversial, that amends Exchange Rules 19.3 and 19.4 to establish generic listing criteria and continued listing standards for options on commodity-based trusts holding multiple crypto assets, and to permit the listing of options on exchange-traded funds as defined in Rule 6c-11 under the Investment Company Act of 1940. Under the generic criteria, each crypto asset held by the trust must have a total global supply with an average daily market value of at least $700 million over the prior 12 months and must underlie a derivatives contract trading on a market with which the Exchange has a comprehensive surveillance sharing agreement. The notice states that product-specific references to individual crypto asset products are replaced by the generic criteria, that the filing became operative upon filing after the Commission waived the 30-day operative delay, and that submissions referring to file number SR-CboeBZX-2026-082 "should be submitted on or before November 6, 2026."
Securities and Exchange Commission Release No. 34-106659, File No. SR-CBOE-2026-061, dated October 13, 2026, was published in the Federal Register on October 16, 2026 as document 2026-21149, Volume 91, No. 199, at pages 65854 to 65886. The release is titled "Notice of Filing of Amendment No. 1 and Order Granting Accelerated Approval of a Proposed Rule Change, as Modified by Amendment No. 1, To Permit the Listing of Binary Options Overlying Key Performance Indicators Reported by Certain Issuers of Stock," and permits Cboe Exchange, Inc. to list binary options overlying key performance indicators reported by certain issuers of stock. The Federal Register metadata record for the document carries no DATES value and no comments-close date, and the document's solicitation-of-comments section was not retrieved.
In a news release dated October 15, 2026 and titled "Operation Economic Outcast Targets Iranian Regime's Abuse of Religious Charity Networks," the Financial Crimes Enforcement Network states that it is issuing an Alert, under Operation Economic Outcast, concerning possible Iranian regime abuse of religious charity networks, including the diversion of religious tithes known as khums, and that it asks financial institutions to report potential instances of that abuse to FinCEN. The release states that the regime exploits Shi'a donations and charitable organizations, and identifies hawala networks and cash couriers among the suspected channels. The release carries sector tags for Casinos, Depository Institutions, Insurance Industry, Money Services Businesses, Mortgage Co/Broker, Precious Metals/Jewelry Industry, and Securities and Futures. The release states no deadline and does not state a suspicious activity report key term on its face; the Alert itself is published as a separate document whose text is not reproduced on the release page, so no red-flag indicator and no filing instruction is stated here.
banks and credit unions, money services businesses and payment processors, casinos and card clubs, securities and futures firms, insurers, mortgage brokers, and precious-metals dealers
Pennsylvania State Police guidance states that on June 15, 2026 the Supreme Court of Pennsylvania ruled that skill games are "slot machines" as defined in the Gaming Act, and that under the Crimes Code slot machines are gambling devices which it is a criminal offense to own, operate or maintain without a license from the Pennsylvania Gaming Control Board (PGCB). The guidance sets October 13, 2026 as the date by which "[b]usinesses and establishments must arrange to have skill game devices and related equipment removed," and states that from October 14, 2026 "[a]ll skill games devices/slot machines located outside of PGCB-licensed businesses are unlawful," with establishments that possess, operate or maintain them subject to criminal prosecution and immediate seizure. The listed consequences are seizure and forfeiture of the machines and associated equipment, seizure of proceeds from machine operation, criminal charges where deemed appropriate, and administrative citations against liquor licenses that may result in a fine, suspension or both. The guidance states that only licensed casinos and qualifying licensed truck stop establishments may possess and operate slot machines or video gaming terminals; that Section 5513 of the Crimes Code also reaches distributors, vendors and manufacturers that make, sell, lease or maintain slot machines without PGCB licensing and authorization; and that turning off, unplugging or temporarily disabling a machine does not change its status if it can still be readily operated.
skill-game route operators, distributors and manufacturers, licensed casinos and truck-stop operators, bars and restaurants hosting terminals, and the payment providers serving them
At 91 FR 65252, published October 14, 2026, the Bureau of Indian Affairs announced the approval by operation of law of the Memorandum of Incorporation between the Stillaguamish Tribe of Indians and the Washington State Gambling Commission, an agreement the notice states governs "the operation and regulation of class III gaming activities." The notice states that "[t]he Compact revises Appendix E to increase the purchase price for a single scratch ticket and online wager limits to $50," and that "[t]he Compact takes effect on October 14, 2026." The notice does not refer to sports wagering.
In a release dated October 14, 2026 the Pennsylvania State Police announced that enforcement of Pennsylvania's skill games law "has begun," following the Supreme Court of Pennsylvania's June 15, 2026 decision and the expiration of the compliance deadline for businesses to remove unauthorized devices from their premises. The release states that PSP has signed agreements with six skill games operators or distributors, and that several other distributors have expressed willingness to comply but requested additional time, with those agreements pending. Under the signed agreements operators must render devices inoperable beginning October 14, 2026, remove machines on a rolling basis, provide a list of all machines owned and their locations, give PSP weekly removal updates, and forfeit any machines not removed within the agreed timeline; in exchange PSP offered a removal timeline proportional to the equipment promised and a delay in seizures until after that timeline. The release states that as of October 14, 2026 machines located outside Pennsylvania Gaming Control Board-licensed businesses are unlawful and may be met with seizure, forfeiture of machines and proceeds, and criminal charges; that "powering off or unplugging an otherwise operable machine is not sufficient"; and that criminal charges will be pursued against any manufacturer, distributor or business that operates these devices, including new models that accept cards or other value. The release does not name the six operators or distributors and gives no figures for devices seized, citations issued or establishments affected.
skill games manufacturers, distributors and route operators, licensed casinos and truck stop establishments, liquor-licensed venues, and payment and cash-handling vendors serving them
The CFTC's advanced notice of proposed rulemaking titled "Regulation Crypto Asset Transactions and Regulation Crypto Asset Markets" (RIN 3038-AF80, document 2026-20888) carries a Federal Register publication date of October 13, 2026 at 91 FR 64811, pages 64811 to 64840. Its DATES section reads: "Comments must be received on or before December 14, 2026." The document's action line is "Advanced notice of proposed rulemaking" and no effective date is printed. The CFTC had announced the advanced notice in release 9307-26 on October 5, 2026.
On October 13, 2026 the U.S. Treasury Department's Office of Foreign Assets Control designated four individuals and eleven entities under Executive Order 14059 and Executive Order 13224, as amended by Executive Order 13886, in an action Treasury titled "Treasury Targets Cartel del Noreste's Horse Racing Enterprise and Expansive Criminal Network." The designated entities include Club La Molienda, also known as La Molienda Race Track and Restaurant Bar La Molienda, of Nuevo Laredo, Tamaulipas, listed for sports facility operation, and Cuadra San Dibanh of Anahuac, Nuevo Leon, listed for horse raising, together with construction, fuel-wholesale and transport companies. Treasury's release states that "CDN has a long history of money laundering through the American Quarter Horse racing industry," that La Molienda "is a horse racetrack, restaurant, and bar located on the outskirts of Nuevo Laredo," that "As the most prominent racetrack in Nuevo Laredo, La Molienda generates revenue for CDN," that "La Molienda and Casino Centenario entered a strategic gambling partnership" with "Casino Centenario, a casino just miles from the U.S. border," and that one designated individual is "involved in horse racing in both Mexico and the United States." The OFAC recent-actions listing for the designations records no digital currency addresses for any designated person or entity. Treasury states the action was taken in coordination with Mexico's financial intelligence unit, the UIF.
In an order numbered 34-106659 in File No. SR-CBOE-2026-061, dated October 13, 2026 and titled "Self-Regulatory Organizations; Cboe Exchange, Inc.; Notice of Filing of Amendment No. 1 and Order Granting Accelerated Approval of a Proposed Rule Change, as Modified by Amendment No. 1," the Securities and Exchange Commission states that it is "to approve the proposed rule change, as modified by Amendment No. 1, on an accelerated basis." The proposed rule change permits Cboe Exchange, Inc. to list binary options overlying key performance indicators ("KPIs") reported by certain issuers of stock ("Binary KPI Options"). The order reproduces a table at Exchange Rule 4.81(a) listing 23 US-listed issuers and more than 100 KPIs, the metrics including diluted earnings per share, revenue, net sales, income, segment-level revenue, free cash flow, unit production and total bitcoin holdings; the issuers named in that table include technology, bank, crypto-sector and retail-brokerage companies. On settlement the filing states that "the settlement value for a binary KPI option is the value of the KPI for the applicable reporting period" and that the exchange "will source the settlement value from the earnings-related filing" the issuer submits to the Commission. The filing states that if an issuer discloses the KPI before the expiration date, "trading in the applicable binary KPI options series will cease, and the expiration date for the option accelerates" under the Clearing Corporation's rules, and that where KPI information is released after the expiration date trading ends at expiration while settlement processing is delayed until the information is available. The same order carries notice of Amendment No. 1 soliciting public comment; the comment deadline was not retrieved from the document and is not stated here.
options and futures exchanges, prediction-market and event-contract platforms, retail brokerages and their compliance functions, clearing agencies, and crypto-sector issuers whose reported metrics underlie listed contracts
In release 9310-26 dated October 9, 2026 the CFTC announced a notice of proposed rulemaking (RIN 3038-AF82) that would, in the document's words, "further define the term 'swap' to explicitly include event contracts, including those based on sports-, politics-, cultural-, and weather-related events." The proposal amends 17 CFR 1.3 by revising paragraphs (2)(i)(E) and (F) and adding a new paragraph (2)(i)(G). Chairman Michael S. Selig stated that Americans use event contracts "to hedge risks, speculate, and provide the public with information" and described them as "commodity derivatives squarely within the CFTC's regulatory remit." The proposal's DATES section prints a bracketed placeholder, "Comments must be received by [INSERT 30 DAYS FOLLOWING PUBLICATION IN THE FEDERAL REGISTER]"; as of this entry the proposal has no Federal Register publication date, so no comment date exists.
In release 9309-26 dated October 9, 2026 the CFTC announced an interim final rule (RIN 3038-AF81, action line "Interim final rule; request for comments") adding a new paragraph (7), "Casino-style gambling products," to the definition of "Swap" in 17 CFR 1.3. The document states the rule would "codify its longstanding position that casino-style gambling products, including wagers placed on sportsbooks and casino games, are excluded from the 'swap' definition," and Chairman Michael S. Selig stated: "Casino-style gambling products are not derivatives." The exclusion applies to sports wagers accepted by a licensed sportsbook or sports wagering operator, casino games including table games, slot machines and other electronic gaming devices, and other licensed games of chance such as bingo, pool wagering, lotteries and raffles. It is conditioned on two tests printed in the document: a Provider Test (the product is offered by a state-licensed or tribal-authorized person acting within its license and regulated as gaming under state or tribal law) and a Product Test (the product is not traded on a board of trade, exchange, swap execution facility or any other multilateral or negotiated market). The DATES section prints bracketed placeholders for both the effective date ("[INSERT DATE OF PUBLICATION IN THE FEDERAL REGISTER]") and the comment date ("[INSERT DATE 30 DAYS AFTER DATE OF PUBLICATION IN THE FEDERAL REGISTER]"); as of this entry the rule has no Federal Register publication date.
At 91 FR 64699 on October 9, 2026 the National Credit Union Administration published a notice and request for comment on a revision of the NCUA Form 5300 Call Report (OMB No. 3133-0004). The summary states: "Revisions include the collection of data on a credit union's involvement with payment stablecoin activities." The proposal adds a new "Schedule J, Payment Stablecoin Activities," which includes four new accounts for "reporting payment stablecoins held on the credit union's balance sheet," eight new accounts for reserve asset custody covering "permitted payment stablecoin issuer (PPSI) third parties," and an item on cryptographic key custody and control. Comments are due December 8, 2026. The notice states the proposed changes would take effect with the March 31, 2027 report date, and estimates 4,224 respondents, 47.0 hours per response and 794,112 total annual burden hours.
At 91 FR 64743 on October 9, 2026 the Department of the Treasury published a "Notice of information collection; request for comment" titled "Agency Information Collection Activities; Proposed Collection; Comment Request; Information-Sharing Initiative: Digital Assets Criteria Form." The notice is issued under the Paperwork Reduction Act of 1995 and invites comment from the general public and other federal agencies on the proposed collection. Comments are due December 8, 2026.
On October 9, 2026 New York Attorney General Letitia James announced a settlement with Alex Mashinsky, co-founder and former chief executive of the cryptocurrency lending platform Celsius Network LLC, under which he is "permanently barred from doing business in the securities, commodities, and cryptocurrency industries." The release states the stipulation requires payments of up to $35 million: $25 million to New York if he fails to forfeit $10 million in ill-gotten gains to the federal government, and $10 million to New York if he does not serve his full prison sentence. The office's claims included failing to register as a salesperson and as a securities and commodities dealer in violation of New York law. The release records that Mashinsky is serving a 12-year federal prison sentence and was ordered to forfeit more than $48 million, that Celsius creditors and investors had received more than $3.4 billion in the bankruptcy proceeding as of August 2026, and that Celsius founders and executives paid $16.5 million to the Federal Trade Commission.
The SEC published at 91 FR 64207 on October 7, 2026 an order (Release No. 34-106577, File No. SR-CboeBZX-2026-065) granting approval of a Cboe BZX Exchange, Inc. proposed rule change to list and trade shares of the 3x Gold ETF, 3x Silver ETF, 3x Bitcoin ETF, 3x Ether ETF, 3x Crude Oil ETF and 3x Natural Gas ETF, each a series of the VS Trust, under BZX Rule 14.11(e)(4) (Commodity-Based Trust Shares). The order states that each fund seeks daily investment results, before fees and expenses, of three times the daily performance of a benchmark tracking first- and second-month futures contracts on its reference asset, and that each fund holds those futures contracts together with cash and cash equivalents. According to the order the Exchange represented that the funds meet all other generic listing requirements except the 3x investment objective; the proposal was published for comment in the Federal Register on August 19, 2026 and the Commission received no comments on it. The order states that the Commission found the proposal consistent with Section 6(b)(5) and Section 11A(a)(1)(C)(iii) of the Securities Exchange Act, and it identifies Volatility Shares LLC as sponsor, Wilmington Trust, National Association as trustee and U.S. Bank National Association as custodian. The order prints no comment deadline and no effective date.
The Securities and Exchange Commission published at 91 FR 64194 on October 7, 2026 a Notice of Filing and Immediate Effectiveness of Proposed Rule Change submitted by the Investors Exchange LLC (IEX) on September 22, 2026, docketed as File No. SR-IEX-2026-34, Release No. 34-106575. The filing has three parts. It establishes generic listing criteria for Fund Shares representing interests in Commodity-Based Trusts that hold a single crypto asset or multiple crypto assets, under which an underlying asset must maintain a $700 million average daily market value over twelve months and must trade on a derivatives market with which IEX has a surveillance-sharing agreement. It adds withdrawal criteria for options on such trusts, monitored monthly against the market-value criterion and continuously against the surveillance-sharing-agreement requirement. And it sets position and exercise limits for options on the iShares Bitcoin Trust ETF at 1,000,000 contracts, which the filing states aligns with limits already in place at other options exchanges. The filing defines a crypto asset as an asset generated through blockchain or similar distributed ledger technology, including assets referred to as tokens, digital assets, virtual currencies and coins, that relies on cryptographic protocols. The notice states: "All submissions should refer to file number SR-IEX-2026-34 and should be submitted on or before October 28, 2026."
The Ohio Casino Control Commission, over the signature of Interim Executive Director Andromeda Morrison, issued cease-and-desist letters dated October 2, 2026 to ten operators of sports event contracts: UDM, LLC d/b/a Underdog Predict and Underdog Exchange DCM, Inc.; Gemini Titan, LLC; Coinbase, Inc.; Prophet X; Novig Betting, Inc. and Ludlow Exchange, LLC; Robinhood Derivatives, LLC; QC Tech LLC / Polymarket; Plus500US Financial Services, LLC; Moomoo Financial Inc.; and Webull Financial LLC. The letters state that because each recipient “is offering unlicensed sports gaming and bookmaking,” the Commission “demands that [the recipient] cease and desist from offering … sports event contracts in Ohio,” and cite Ohio Revised Code sections 3775.01(N)(1), 3775.01(O)(1), 3775.01(DD), 3775.02(A), 3775.03(A) and 3775.99(B)(9), together with R.C. Chapter 2915 on bookmaking, R.C. Chapter 3767 on nuisance abatement, and the civil penalty provisions at R.C. 3775.02(H)(1)(a), R.C. 3772.04(B) and Ohio Adm.Code 3775-1-08. Each letter requires written notification to the Commission confirming compliance “no later than fourteen (14) days following the date of this letter,” and states that non-compliance may result in the Commission “pursuing all legal remedies and actions … including, but not limited to, administrative, civil, nuisance, or criminal actions pursuant to R.C. Chapters 2915, 3767, and 3775.” As reported on October 5, 2026 by Covers, InGame and Sportsbetting Dime, the fourteen-day compliance date is October 16, 2026; the letters themselves print the fourteen-day period rather than a calendar date. The combined letters were retrieved in full from a media-hosted copy; the Commission’s own newsroom carried no release on the action as of October 6, 2026, and no Ohio government-hosted copy of the letters was located.
The SEC's proposed rule "Adviser and Regulated Fund Custody Rules; Crypto Custody Rules" was published in the Federal Register on October 6, 2026 at 91 FR 63870, as document 2026-20466, RIN 3235-AN46, File No. S7-2026-35. The DATES section states: "This release was published in the Federal Register on October 6, 2026. Comments should be received on or before December 7, 2026." The release's summary states the Commission is proposing new custody rules under the Investment Company Act of 1940 and amendments to related reporting and recordkeeping requirements "to address how regulated investment companies may custody crypto securities and similar investments," and amendments to the custody rule and related reporting and recordkeeping rules under the Investment Advisers Act of 1940 "to address how registered investment advisers may custody client crypto funds and securities." It further states the Commission is proposing to modernize the current custody rules, to redesignate the Advisers Act custody rule with corresponding amendments to Form ADV and Form ADV-E, and to amend Form ADV and Form N-CEN, including new questions "related to tokenized private funds and regulated investment company shares, respectively." The proposal was announced by SEC press release 2026-100 on October 1, 2026; the Federal Register publication is what fixes the comment date.
Two FinCEN withdrawal notices were published in the Federal Register on October 6, 2026. Document 2026-20430, at 91 FR 63514, RIN 1506-AB47, states that "FinCEN is withdrawing a notice of proposed rulemaking (NPRM) that proposed requiring banks and money service businesses (MSBs) to submit reports, keep records, and verify the identity of customers in relation to transactions involving convertible virtual currency (CVC) or digital assets with legal tender status (LTDA) held in unhosted wallets or in wallets hosted in a jurisdiction identified by FinCEN," and that "FinCEN will not take any further action on this NPRM." Its DATES section states that FinCEN is withdrawing the proposed rule published at 85 FR 83840 (December 23, 2020), as of October 6, 2026. Document 2026-20429, at 91 FR 63513, RIN 1506-AB47, states that "FinCEN is withdrawing its finding and proposed rulemaking, pursuant to section 311 of the USA PATRIOT Act, that international Convertible Virtual Currency (CVC) mixing is a class of transactions of primary money laundering concern and that a special measure requiring enhanced recordkeeping and reporting requirements should be imposed regarding this class of transactions." Its DATES section states that FinCEN is withdrawing the proposed rulemaking published at 88 FR 72701 (October 23, 2023), as of October 6, 2026. FinCEN announced both withdrawals by news release on October 5, 2026.
CFTC Staff Letter No. 26-29, dated October 3, 2026 and issued by the Division of Market Oversight in response to a request from Coinbase Derivatives, LLC, states that "the Division will not recommend the Commission initiate an enforcement action against the Exchange, or against any other DCM, for implementing with immediate effect the Proposed Contract Amendments," which remove expiration dates from existing perpetual-style broad-based security index futures contracts, and that the Division will not exercise its authority to stay such amendments under Regulation 40.6(c)(1). The letter sets eight conditions: the amendments may be made only to contracts referencing broad-based security indices; market participants with open positions must be solicited for feedback on potential adverse impacts; at least five calendar days' notice must be given to affected market participants; those participants must be permitted to close positions under the existing terms; appropriate risk disclosures relating to the amendments must be provided; no other material contract terms may be amended; the amendments must be filed under Regulation 40.6(a) or 40.5; and the Division must be notified with a certification of compliance with all conditions. The letter states: "The no-action positions in this letter expire on October 20, 2026." The CFTC announced the letter by press release 9308-26 on October 5, 2026.
A FinCEN news release dated October 5, 2026, titled "FinCEN Announces Withdrawals of Proposed Digital Asset Related Rules," states that FinCEN is withdrawing two proposed rules: "a proposal that would have imposed recordkeeping, verification, and reporting requirements on certain transactions involving convertible virtual currencies and unhosted wallets" and "a proposal that would have imposed a special measure with regards to convertible virtual currency mixing." The release states: "FinCEN has considered the comments submitted in response to these proposals and is withdrawing them as part of the Trump Administration's deregulatory agenda and ongoing efforts to ensure digital asset regulations are fit-for-purpose." The release identifies the two withdrawal notices as Federal Register documents 2026-20430, "Requirements for Certain Transactions Involving Convertible Virtual Currency or Digital Assets; Withdrawal," and 2026-20429, "Proposal of Special Measure Regarding Convertible Virtual Currency Mixing; Withdrawal." The release states no RIN, no original Federal Register citation or date for either withdrawn proposal, and quotes no named official. As of the date of this record neither withdrawal notice had appeared in the Federal Register.
CFTC press release 9307-26, dated October 5, 2026, states that "The Commodity Futures Trading Commission today published an Advanced Notice of Proposed Rulemaking to provide notice of, and seek public comment regarding, its intent to establish a comprehensive regulatory framework comprised of fit-for-purpose rules concerning section 2(c)(2)(D) of the Commodity Exchange Act and retail commodity transactions described thereunder involving crypto assets (such transactions, \"CTXs\")." The release names two prospective rule sets, Regulation Crypto Asset Transactions and Regulation Crypto Asset Markets, and states that the Commission intends to "codify through rulemaking a subcategory of designated contract market registration, known as a crypto asset market, that is purpose-built specifically for CTXs." It states that the ANPRM seeks input on preventing abusive practices and on providing crypto-specific compliance guidance. On timing the release states: "Comments must be in writing and received within 60 days of the ANPRM's publication in the Federal Register. Comments received will be posted on Regulations.gov." Chairman Michael S. Selig is quoted: "Today's action is a critical step in the CFTC's ongoing efforts to ensure America remains the crypto capital of the world." The release states no RIN and no docket number. As of the date of this record the ANPRM had not appeared in the Federal Register, so the 60-day comment period had no start date.
SEC Litigation Release No. 26660, dated September 30, 2026, reports the entry of final judgments in Securities and Exchange Commission v. Brown et al., No. 1:21-cv-04791 (S.D.N.Y.), filed May 28, 2021. The release states that the defendants promoted BitConnect and marketed and sold securities in its lending program between June 2017 and January 2018 without registration of the offering and without being registered as or associated with a registered broker or dealer. Final judgment was entered against Michael Noble on July 17, 2026 for $731,281.00 in disgorgement, $293,703.36 in prejudgment interest and a $50,000.00 civil penalty; against Craig Grant on August 7, 2026 for $1,748,147.00 in disgorgement, $702,105.84 in prejudgment interest and a $230,480.00 civil penalty; and against Trevon Brown on September 9, 2026 for $1,728,563.00 in disgorgement, $182,902.15 in prejudgment interest and a $75,000.00 civil penalty. Each judgment permanently enjoins the defendant from violating Sections 5(a) and 5(c) of the Securities Act of 1933 and Section 15(a) of the Securities Exchange Act of 1934, and each carries conduct-based injunctive relief addressed to participation in digital asset securities offerings and in marketing and sales programs relating to such investments.
FinCEN's finding and notice of proposed rulemaking, "Proposal of Special Measure Prohibiting the Transmittal of Funds Regarding Transactions Involving the A7 Network's Sub-Agents", has been published in the Federal Register at 91 FR 63208, with a publication date of October 5, 2026, document number 2026-20371 and RIN 1506-AB77, under 31 CFR part 1010. The DATES section states that written comments on the notice of proposed rulemaking must be submitted on or before November 4, 2026. The proposed text at section 1010.668(b)(1) would prohibit covered financial institutions from engaging in a transmittal of funds involving any A7 Network Sub-Agent, including any transmittal of funds from or to an A7 Network Sub-Agent, or from or to any account or CVC address administered by or on behalf of an A7 Network Sub-Agent. The document states that covered financial institutions include banks, broker-dealers, money services businesses, casinos, futures commission merchants and mutual funds, approximately 347,926 institutions in total, of which 332,068 are money services businesses. It describes the A7A5 token as a ruble-backed stablecoin that operates on the Tron and Ethereum blockchains, and states that A7A5 transactions totalled at least USD 179.1 billion between February 2025 and June 2026. The finding is made under section 9714(a) of the Combating Russian Money Laundering Act. No effective date is stated; the document is a proposed rule open for comment.
As reported by Decrypt on September 30, 2026 and independently by PYMNTS on October 1, 2026, the CFTC submitted two rules to the White House Office of Information and Regulatory Affairs on September 28, 2026. Both outlets report that the first is a proposed rule, RIN 3038-AF82, that would further define the term 'swap' to explicitly include event contracts and would go out for public comment, and that the second is an interim final rule, RIN 3038-AF81, that would exclude casino-style gambling products from the swap definition and could take effect upon approval while remaining open to comment. Both outlets report that the CFTC classified both rules as not economically significant and that the full text of neither rule is public. The CFTC has issued no press release on the submissions: its press release index showed release 9306-26 of October 1, 2026 as the most recent item when checked on October 3, 2026, and the reginfo.gov Unified Agenda entry for RIN 3038-AF82 returns 'This rule has not been published in a Unified Agenda.'
A complaint filed October 2, 2026 in the United States District Court for the District of Columbia, Independent Community Bankers of America v. Office of the Comptroller of the Currency, No. 1:26-cv-03441, names as defendants the OCC and Jonathan V. Gould in his official capacity as Comptroller of the Currency. The complaint challenges three agency actions: the final rule "National Bank Chartering," 91 Fed. Reg. 9977 (March 2, 2026); OCC Interpretive Letter No. 1176 (January 11, 2021); and the OCC's conditional approval of a national trust bank charter for Protego Holdings Corporation, OCC Conditional Approval No. 1259 (February 4, 2021). It pleads three counts under the National Bank Act, 12 U.S.C. 92a, and the Administrative Procedure Act, 5 U.S.C. 701 et seq., alleging that the OCC has "far exceeded its limited statutory authority to charter trust banks," that the challenged actions allow cryptocurrency companies to operate as national trust banks without FDIC insurance, and that Interpretive Letter 1176 was issued without notice-and-comment procedures. The complaint asks the court to declare the final rule and Interpretive Letter 1176 unlawful and vacate them, to enjoin their use in granting or conditionally approving charters, to vacate the Protego approval, and to award costs and fees. The filing contains allegations by the plaintiff; no court has ruled on them.
SEC Release No. 34-106577, dated October 2, 2026, is an order approving a proposed rule change filed by Cboe BZX Exchange, Inc. (File No. SR-CboeBZX-2026-065) to list and trade shares of six series of VS Trust: the 3x Gold ETF, 3x Silver ETF, 3x Bitcoin ETF, 3x Ether ETF, 3x Crude Oil ETF and 3x Natural Gas ETF. The order states that each Fund "will seek daily results, before fees and expenses, equal to three times (3x) the daily performance of its Benchmark." The shares are to be listed under BZX Rule 14.11(e)(4), Commodity-Based Trust Shares, whose generic listing standards do not cover products seeking a specified multiple of a benchmark, so the proposal required individual Commission approval. The order cites Sections 6(b)(5) and 11A(a)(1)(C)(iii) of the Securities Exchange Act of 1934 and concludes: "IT IS THEREFORE ORDERED, pursuant to Section 19(b)(2) of the Act, that the proposed rule change (SR-CboeBZX-2026-065) be, and hereby is, approved." The order does not state a commencement-of-trading date.
OFAC's Counter Terrorism Designations of October 2, 2026 designate Saleem Abdallah Saleem al-Zaq, a Gaza-based individual listed as linked to HAMAS, two France-based individuals, Faouzi Barika and Amel Oualid, and two French registered charities, Association Baraka (registered charity no. W331005557) and Ensemble C Mieux (registered charity no. W423015492). The SDN listing itself records no digital currency addresses. Treasury's accompanying press release, 'Treasury Dismantles Major Hamas Financing Network,' states that the scheme used cryptocurrency channels and cryptocurrency wallets to transfer funds, that Barika and Oualid sent hundreds of thousands of dollars in cryptocurrency to al-Zaq, and that al-Zaq used money services businesses and cryptocurrency wallets as part of the network's financial infrastructure. The release states the network moved more than $2 million to Hamas between 2020 and 2026, of which $1.5 million was collected after the October 7, 2023 Hamas attack on Israel.
Treasury press release sb0644, dated October 1, 2026, states that as part of Operation Economic Outcast the Department "took unprecedented action against the A7 Network, a shadow banking network with ties to Russia used by the Iranian regime to evade sanctions." The release lists three simultaneous actions: FinCEN "proposed a rule that would prohibit transmittals of funds regarding transactions involving the A7 Network's Sub-Agents"; FinCEN "issued an Alert to help financial institutions detect and report suspicious activity related to the A7 Network"; and the Office of Foreign Assets Control "sanctioned the A7 Network as a significant transnational criminal organization." On digital assets the release states: "The A7A5 token is a blocked, ruble-backed token issued by Old Vector LLC, which OFAC designated on August 14, 2025 and is part of the A7 Network." It states the network "has been linked to Nobitex, Iran's largest digital asset exchange, which OFAC designated on June 2, 2026," and "has also facilitated transactions related to North Korean hacks of cryptocurrency exchanges and other illicit actors." The FinCEN notice of proposed rulemaking is stated to have been issued pursuant to section 9714(a) of the Combating Russian Money Laundering Act.
FinCEN Alert FIN-2026-Alert007, "FinCEN Alert on the A7 Network", dated October 1, 2026. Its opening paragraph states that FinCEN "is issuing this Alert to urge financial institutions to be vigilant in detecting, identifying, and reporting suspicious activity, including involving the A7 Network. The A7 Network is a global wholesale sanctions evasion and money laundering service with ties to Russia, leveraged by a wide range of illicit actors, including Iran and its terrorist proxies." The Alert states that "the A7 Network may use digital assets, including A7A5, a ruble-backed stablecoin developed within the network, to transfer value"; that "Created by the A7 Network for use by its clients, A7A5 is a ruble-backed stablecoin that operates on the Tron and Ethereum blockchains"; that "OFAC has announced that the A7A5 token is to be considered blocked property"; that "more than 180 entities processed A7A5 transactions that totaled at least $179.1 billion dollars between February 2025 and June 2026"; that "A7A5 has been consolidated into unhosted wallets, suggesting the A7 Network is moving away from using previously named, sanctioned exchanges"; that the network "has most often used the A7A5 tokens as a non-freezable, bridging asset to convert into other, more widely accepted digital assets, such as the stablecoin Tether (USDT)"; and that U.S. financial institutions "may encounter use of derivative or 'wrapped' tokens distinct from but 'pegged' to the A7A5 token", which "are often accessed through decentralized finance applications". Its digital asset red flags include a customer that "offers, has traded in, or has historic direct or indirect exposure to trades denominated in the A7A5 token or in derivative, or 'wrapped,' tokens based on the A7A5 token"; a customer that "provides digital assets, especially stablecoins, to identified or suspected A7 Network Sub-Agents"; a customer "engaged in international trade, import/export, or shipping using stablecoins to make large purchases or engage in a high volume of transactions, especially to pay for commodities not usually traded using digital assets"; and a customer "operating a digital asset firm, including a firm that purports to be engaged in 'over the counter,' 'OTC,' or 'block trading' services with a primary focus on stablecoin/fiat trading pairs".
FinCEN notice of proposed rulemaking "Proposal of Special Measure Prohibiting the Transmittal of Funds Regarding Transactions Involving the A7 Network's Sub-Agents", RIN 1506-AB77, docket FINCEN-2026-0265, released October 1, 2026. Its SUMMARY states that FinCEN "is issuing a finding and notice of proposed rulemaking, pursuant to section 9714(a) of the Combating Russian Money Laundering Act (Public Law 116-283), as amended by section 6106(b) of the National Defense Authorization Act for Fiscal Year 2022 (Public Law 117-81), finding transactions involving any company operating outside of the United States that is controlled by the A7 Network, a sanctions evasion and money laundering service with ties to Russia, leveraged by a wide range of illicit actors, including Iran and its terrorist proxies, to be a class of transactions of primary money laundering concern in connection with Russian illicit finance and proposing the imposition of a prohibition on certain transmittals of funds, by any covered financial institution, involving that class of transactions." The proposed operative text at section 1010.668(b)(1) reads: "Covered financial institutions are prohibited from engaging in a transmittal of funds involving any A7 Network Sub-Agent, including any transmittal of funds from or to an A7 Network Sub-Agent, or from or to any account or CVC address administered by or on behalf of an A7 Network Sub-Agent." Six Sub-Agents are named, all identified as UAE or Dubai entities: Galadriel Trading FZCO, Gimli Trade LLC-FZ, Hydrofusion Resources FZ-LLC, Pearl Bridge, Power Sphere LLC-FZ and Sigizmund FZCO. The definition also covers "any other entity identified by FinCEN as a Sub-Agent of the A7 Network", with additional Sub-Agents to be provided to covered institutions through secure FI-Portal channels. The DATES section reads "on or before [INSERT DATE 30 DAYS AFTER DATE OF PUBLICATION IN THE FEDERAL REGISTER]"; no calendar date is printed.
SEC press release 2026-100, dated October 1, 2026, states that the Commission "proposed new rules to establish a tailored framework for the custody of crypto assets for registered investment advisers and regulated funds." The release states the proposal would "modernize custody rules and expand investor choice by removing regulatory barriers that inhibit the adviser's ability to provide crypto-related investment advice," and that the rules would "permit crypto assets to be held in self-custody under certain circumstances and allow the use of state trust companies as custodians for client and regulated fund crypto assets." Chairman Paul S. Atkins is quoted: "Since the advent of Bitcoin in 2008, the crypto asset market has grown from a niche curiosity into a multi-trillion-dollar asset class to which investors actively seek exposure." The proposal is made under the Investment Advisers Act of 1940 and the Investment Company Act of 1940. The release states the comment period runs 60 days following publication in the Federal Register; no calendar deadline is printed in the release, and the document had not published in the Federal Register as of this entry.
A New York State Department of Financial Services press release dated October 1, 2026 announces that NYDFS and the Wyoming Division of Banking have signed a memorandum of understanding "to Enable Coordinated Oversight of Virtual Currency and Digital Asset Activities". The parties are represented by NYDFS Acting Superintendent Kaitlin Asrow and Wyoming Division of Banking Commissioner Jeremiah Bishop. On licensing, the release states: "The licensing and chartering provisions of the MOU provide for coordination on entities already licensed or chartered in one jurisdiction, as well as for entities applying in both jurisdictions at the same time", with the regulators sharing examination analysis, subject matter reviews and historical data to streamline applications. On supervision, it states: "The regulators will coordinate their examination schedules and work toward joint examinations of entities operating in both states", and "The MOU also establishes protocols for sharing supervisory reports, market trend data, and notifications regarding potential enforcement actions." Acting Superintendent Asrow is quoted: "Interstate collaboration is essential for the virtual currency space. This MOU will add to the resources and information available to each regulator, helping to facilitate responsible innovation in the market while protecting consumers across our respective jurisdictions." Commissioner Bishop is quoted: "This MOU shows the strength of the state regulatory system as an example of two leading regulators in this space working together to better the effectiveness in supervision." The release states that DFS "established the nation's first comprehensive virtual currency regulatory framework, the BitLicense, in 2015." No effective date, duration or expiry for the MOU is stated in the release.
Treasury press release sb0649, "READOUT: Treasury Co-hosts Syrian Banking Roundtable," dated October 1, 2026, states that Treasury Assistant Secretary for Terrorist Financing and Financial Crimes Jonathan Burke co-hosted an in-person banking roundtable in New York with Syrian Minister of Finance Yisr Barnieh and the Governor of the Central Bank of Syria Safwat Raslan, with virtual remarks from the U.S. Presidential Envoy to Syria, Ambassador Tom Barrack. The readout states that "representatives from U.S. financial institutions and payment service providers gained greater insight into the current anti-money laundering and countering the financing of terrorism (AML/CFT) landscape in Syria," that "Participants were briefed on key gaps identified by an independent third-party, and the Government of Syria's ongoing work to address those gaps," and that Assistant Secretary Burke "stressed that financial connectivity is essential to effectively combating illicit finance and supporting Syria's reintegration into the global financial system," in light of the decision to lift virtually all sanctions on Syria. The readout announces no rule, no enforcement action and no deadline, and it does not mention digital assets, cryptocurrency or stablecoins.
Federal Register document 2026-20143, an FTC advance notice of proposed rulemaking and request for public comment titled "Rule on Impersonation of Government and Businesses," RIN 3084-AB90, Matter No. R207000, 16 CFR part 461, published October 1, 2026. Its DATES section reads: "Comments must be received on or before November 30, 2026." Its SUMMARY states that the Commission "proposes to commence a rulemaking proceeding to prevent certain unfair or deceptive acts or practices by search engine, social media, and other digital marketplace platforms that further government and business impersonation scams to defraud consumers" and that it "is soliciting written comment, data, and arguments concerning the need for such rulemaking." The document states that platforms offer "ad-optimization tools and services that enhance an ad's effectiveness," naming among them "ad copy creation, image and video generation, ad enhancements," and discusses how platforms "profit from optimizing online ads for third parties." Dollar figures carried in the document include approximately $16 billion in consumer fraud losses in 2025, an estimated true fraud cost of $195.9 billion in 2024, nearly $3.5 billion in reported impersonation losses, and $2.1 billion in reported social media scam losses in 2025.
SEC Release No. 34-106553, File No. 3-22766, dated September 30, 2026, finds that Trevon Brown offered and sold unregistered investment contracts representing interests in the BitConnect lending program from April 2017 to January 2018, promoted those investments through online videos and at BitConnect events, and received transaction-based compensation for direct sales together with recruiter commissions from his downline, without being associated with a registered broker or dealer. The order finds violations of Sections 5(a) and 5(c) of the Securities Act of 1933 and Section 15(a) of the Securities Exchange Act of 1934. It imposes a suspension from association with any broker, dealer, investment adviser, municipal securities dealer, municipal advisor, transfer agent or nationally recognized statistical rating organization for twelve months. No monetary penalty is specified in the order.
CFTC press release 9305-26, dated September 30, 2026, states that the U.S. District Court for the Middle District of Florida entered an order against Brian Early of Louisiana and Alisha Ann Kingrey of Arkansas directing them to pay $15,732,455 in restitution and a $15,752,455 civil monetary penalty. The release describes the underlying conduct as "a digital assets and precious metals fraud involving the unincorporated Fundsz entity and its website," states that participants were told their "money would be traded according to a proprietary algorithm," and states that Fundsz's founder and controlling person "had deceived participants into investing in Fundsz." The release further states that consent orders were entered involving Rachel Larralde, representing the estate of Rene Larralde, and Juan Pablo Valcarce, and that the Larralde estate is directed to relinquish to a court-appointed receiver a personal residence purchased with investor funds together with over $2.7 million in other assets. The release names the court but the retrieved page did not state a case number.
Federal Register document 2026-19973, an OFAC final rule amending the Cuban Assets Control Regulations, published on September 30, 2026. Its DATES section reads: "This rule is effective September 30, 2026." Its SUMMARY states that OFAC is amending the regulations to implement portions of the President's foreign policy toward Cuba, including as directed by National Security Presidential Memorandum-5, signed June 30, 2025, and that "Among other things, this rule adds a prohibition on indirect financial transactions with entities or subentities on the Cuba Restricted List; amends other authorizations related to financial transactions, including removing an authorization for 'U-Turn' transactions; and amends authorizations related to travel and related transactions, including removing authorizations for group people-to-people travel and professional meetings in Cuba." The OFAC recent-actions entry for the action enumerates the guidance issued with it: five new Cuba-related Frequently Asked Questions, numbered 1271 through 1275; twenty-nine amended Frequently Asked Questions; and an OFAC Alert titled "Expanded Sanctions Against Cuba," which the entry describes as highlighting increased sanctions risks for transactions involving Cuba. The entry also records that the accompanying regulatory package removes duplicative provisions and reorganizes multiple parts of the Code of Federal Regulations, eliminating over 100 subparts. The texts of the individual FAQs were not retrieved.
Federal Register document 2026-19966, "Forms and Procedures for Review of State Certifications by the Stablecoin Certification Review Committee," RIN 1505-AC97, docket TREAS-DO-2026-0562, published on September 30, 2026. Its DATES section reads: "Effective date: This interim final rule is effective September 30, 2026; however, certifications will not be accepted until after Paperwork Reduction Act approval of the information collection. Treasury will post a notification on its website as to when certifications will be accepted. Comment date: Comments on this interim final rule must be received on or before November 30, 2026." The published SUMMARY states that Treasury is issuing the rule on behalf of the Stablecoin Certification Review Committee, that the Committee is adopting interim procedural regulations and forms to implement its responsibilities under section 4(c) of the Guiding and Establishing National Innovation for U.S. Stablecoins Act, and that the regulations set out a process to facilitate the Committee's approval or denial of certifications submitted by State payment stablecoin regulators under section 4(c)(4) and prescribe the form of such certifications. The SUMMARY adds: "This interim final rule will ensure that interim forms and procedural regulations are in place to facilitate submission of certifications by the effective date of the GENIUS Act, and the Committee intends to revise these forms and procedural regulations, as appropriate, following consideration of comments."
The SEC issued a sequential block of settled administrative orders on September 30, 2026, File Nos. 3-22759 through 3-22766. Four were retrieved in full. Release 34-106544 (File 3-22765) finds that Anthony Tyler Williams co-owned and operated KOT4X, an unregistered online brokerage, from 2019 to 2025, solicited U.S. retail investors to trade security-based swaps in the form of contracts for differences based on stocks, marketed the platform through social media and recruited affiliates, and that approximately $296 million was deposited into customer accounts. It states: "To trade, customers registered on the KOT4X website, funded their trading accounts with Bitcoin or other crypto assets that were custodied in a margin account by the white-label service providers, and then received access to trading products." It finds a violation of Section 15(a)(1) of the Securities Exchange Act of 1934 and imposes a $125,000 civil money penalty and a two year associational bar with a right to apply for reentry. Release 34-106538 makes parallel findings against Quillan Black, a social media influencer known as "Cue Banks," as a co-owner and operator of KOT4X, with the same penalty and bar. Release 34-106539 makes parallel findings against Tyler MacKechnie as to Envi LLC, with an $85,000 penalty payable in three installments over one year and a two year bar. Release 34-106540 makes parallel findings against Jordan Morgan as to Prosperity, and states that approximately $35 million was deposited into customer accounts. In each retrieved order the stock-based contracts for differences are found to be security-based swaps under the federal securities laws. Three further orders in the same block, Releases 34-106541, 34-106542 and 34-106543, were not retrieved.
Treasury press release sb0640, dated September 30, 2026, announces sanctions on a financial network of the foreign terrorist organization Tren de Aragua. The release states that "Among other methods, the network designated today uses cryptocurrency transactions to launder proceeds of ATM jackpotting," and separately that "Among other methods, Prometheus uses cryptocurrency transactions to launder proceeds of ATM jackpotting attacks." The designations are made under Executive Order 13581, as amended, and Executive Order 13224, as amended. Nine individuals are designated, including Anibal Alexander Canelon Aguirre, identified in the release by the alias "Prometheus," and Juan Gabriel Rivas Nunez, alias "Juancho." Two entities are designated: Enigma Community, S. de R.L. de C.V. and Soluciones Integrales Toluca, S.A. de C.V. The corresponding OFAC recent-actions entry, headed "Counter Terrorism and Transnational Criminal Organizations Designations; Belarus, Counter Narcotics, and Libya Designations Removals," carries the field label "Digital Currency Address" eight times and lists seven Tron (TRX) addresses against designated individuals. The same entry records designation removals for Patraca, S.A. de C.V., the vessel Maraya, and Tatyana Protopovich.
The SEC's Division of Corporation Finance has published a set of staff frequently asked questions stamped "Sept. 25, 2026", titled "Frequently Asked Questions on the Application of the Federal Securities Laws to Certain Types of Crypto Assets and Certain Transactions Involving Crypto Assets". The page states that the answers "represent the views of the staff of the Division of Corporation Finance" and "are not a rule, regulation or statement of the Securities and Exchange Commission". The FAQs are organized in two groups. The first group, on classification of crypto assets, addresses how the definitions of "functional" and "decentralized" relate to an issuer's representations, how Staking Receipt Tokens are classified, and what distinguishes a "receipt" from other financial instruments. The second group, on crypto assets subject to investment contracts, addresses when promotional communications constitute representations of essential managerial efforts, whether a non-security crypto asset ceases to be an investment contract when representations are assumed by another party, what activities do not constitute essential managerial efforts after a crypto system is functional, whether issuer statements can create new investment contracts for functional and decentralized systems, whether buyback program announcements constitute essential managerial effort representations, and whether a trading platform offering a secondary market qualifies as a promoter. No SEC press release accompanied the FAQs.
Two Federal Reserve proposed rules implementing the GENIUS Act published in the Federal Register on September 29, 2026. Document 2026-19860, "Implementing the Federal Reserve Board's Responsibilities Under the GENIUS Act", carries RIN 7100-AH29 and Docket R-1899 and would affect 12 CFR parts 208, 211, 217, 225, 247 and 263. Its DATES section reads "Comments must be received by November 30, 2026." Its summary states that the Board "proposes to issue regulations to implement the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act) with respect to Board-supervised permitted payment stablecoin issuers (PPSIs) and certain other entities that are subject to the Board's jurisdiction", and that the Board "proposes to issue regulations to implement the prohibition on tying in section 4(a)(8) of the GENIUS Act, which is applicable generally to all PPSIs." Document 2026-19899, "Application Procedures for Board-Supervised Insured Depository Institutions Seeking Approval for a Subsidiary To Issue Payment Stablecoins", carries RIN 7100-AH30 and Docket R-1900 and would affect 12 CFR parts 247 and 262. Its DATES section reads "Comments must be received by the Board on or before November 30, 2026." On the application timetable, that document states that "not later than 30 days after receiving an application, the Board must notify the applicant as to whether the Board considers the application to be substantially complete"; that "the Board shall render a decision on the application not later than 120 days after the submission date"; and that "if the Board fails to render a decision on a complete application within 120 days of the submission date, the application shall be deemed approved." A denied applicant may request a hearing "not later than 30 days after the applicant receives notice of the denial", the Board notices the time and place "[n]ot later than 30 days after the date of receipt of the request", and "[n]ot later than 60 days after the date of that hearing, the Board shall notify the applicant of a final determination."
Treasury's interim final rule "Forms and Procedures for Review of State Certifications by the Stablecoin Certification Review Committee", Federal Register document 2026-19966 at RIN 1505-AC97 and docket TREAS-DO-2026-0562, states in its DATES section: "Effective date: This interim final rule is effective [INSERT DATE OF PUBLICATION IN THE FEDERAL REGISTER]; however, certifications will not be accepted until after Paperwork Reduction Act approval of the information collection. Treasury will post a notification on its website as to when certifications will be accepted. Comment date: Comments on this interim final rule must be received on or before [INSERT DATE 60 DAYS AFTER DATE OF PUBLICATION IN THE FEDERAL REGISTER]." Its summary states that Treasury "is issuing this interim final rule on behalf of the Stablecoin Certification Review Committee", that the Committee "is adopting interim procedural regulations and forms to implement its responsibilities under section 4(c)" of the GENIUS Act, and that the regulations "set out a process to facilitate the Committee's approval or denial of certifications submitted by State payment stablecoin regulators under section 4(c)(4) of the GENIUS Act, and prescribe the form of such certifications." Both bracketed dates were still unfilled when this entry was written, and the document had not yet appeared in a published Federal Register issue.
The SEC Division of Trading and Markets published a "Staff Statement on Affiliations Between National Securities Exchanges and Broker-Dealers" dated Sept. 30, 2026. The statement says the Commission "recently received four Form 1-Ns for notice registration as security futures product exchanges under Section 6(g) of the Exchange Act" and that each registrant "discloses in its Form 1-N that it is affiliated with an FCM that will perform introducing broker functions, extend margin to customers and hold client funds and property, and is a member of the exchange for purposes of trading security futures." The page's footnotes identify the four registrants as Coinbase Derivatives, LLC; KalshiEX LLC; Bitnomial Exchange, LLC; and North American Derivatives Exchange, Inc. The statement says that "the financial interests of the national securities exchange may conflict with its responsibilities as an SRO regarding the affiliated broker-dealer," and that the staff "invites comment from market participants regarding national securities exchange affiliations, including with entities that engage in broker activity on behalf of customers on the exchange or that trade in a principal capacity on the exchange." No comment deadline or closing date is stated on the page. The statement carries the disclaimer that it "represents the views of the Staff" and "is not a rule, regulation, guidance, or statement of the Commission."
Three further settled administrative orders in the SEC's sequential September 30, 2026 block were retrieved in full. Release 34-106541 (File No. 3-22762) finds that Lewis Neal, age 31, of Celina, Texas, operated FxSway LLC, an unregistered online brokerage incorporated in St. Vincent and the Grenadines at www.fxsway.com, from 2021 to 2023, and states that "customers registered on the FxSway website, funded their trading accounts with Bitcoin or other crypto assets that were custodied in a margin account." It finds a willful violation of Section 15(a)(1) of the Securities Exchange Act of 1934 for effecting unregistered broker transactions in security-based swaps in the form of stock-based contracts for differences, and imposes a cease-and-desist order, a two year associational bar with a right to apply for reentry, and a $60,000 civil money penalty payable within 10 days. Release 34-106542 (File No. 3-22763) makes parallel findings against Michael Levi Peters, age 32, of Houston, Texas, as to Prosperity LLC at www.prosperity4x.com for 2020 to 2023, with the same funding sentence and a $65,000 penalty due within 10 days. Release 34-106543 (File No. 3-22764) makes parallel findings against Michael Talento, age 32, of San Marcos, California, as to the same Prosperity LLC and website for 2020 to 2023, with the same funding sentence and a $65,000 penalty payable in three installments of $13,000 within 10 days, $13,000 within 180 days, and the remainder within 365 days. All three impose two year associational bars with a right to apply for reentry.
SEC Litigation Release No. 26660, dated September 30, 2026, concerns Securities and Exchange Commission v. Brown et al., No. 1:21-cv-04791 (S.D.N.Y. filed May 28, 2021). The release states that three individuals promoted BitConnect between June 2017 and January 2018, marketing and selling securities in its "lending program," and that the SEC charged they "offered and sold the securities without registering the securities offering" or operating as registered broker-dealers, in violation of Section 5 of the Securities Act of 1933 and Section 15(a) of the Securities Exchange Act of 1934. Three final judgments are reported. Michael Noble, judgment entered July 17, 2026: disgorgement of $731,281, prejudgment interest of $293,703.36 and a civil penalty of $50,000, a total of $1,074,984.36, with permanent injunctions. Craig Grant, judgment entered August 7, 2026: disgorgement of $1,748,147, prejudgment interest of $702,105.84 and a civil penalty of $230,480, a total of $2,680,732.84, with permanent injunctions. Trevon Brown, judgment entered September 9, 2026: disgorgement of $1,728,563, prejudgment interest of $182,902.15 and a civil penalty of $75,000, a total of $1,986,465.15, with permanent injunctions.
On September 29, 2026 the Department of the Treasury filed for Federal Register public inspection an interim final rule issued on behalf of the Stablecoin Certification Review Committee (document 2026-19966, RIN 1505-AC97, docket TREAS-DO-2026-0562), scheduled for publication on September 30, 2026. The document states: "The Department of the Treasury is issuing this interim final rule on behalf of the Stablecoin Certification Review Committee (Committee). The Committee is adopting interim procedural regulations and forms to implement its responsibilities under section 4(c) of the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act or the Act). The regulations set out a process to facilitate the Committee's approval or denial of certifications submitted by State payment stablecoin regulators under section 4(c)(4) of the GENIUS Act, and prescribe the form of such certifications." The filed text sets out an initial certification package consisting of a signed attestation that the State regime meets the substantial-similarity criteria, a narrative demonstrating compliance, and supporting statutes, regulations and guidance; an annual recertification package; a 30-day Committee review period; a 180-day cure period following a denial, or two years where the trigger is a change in Federal law; quarterly recertification submission windows keyed to the approval anniversary; suspension of a certification where an annual recertification is not timely filed; electronic submission to a Treasury email address; and appeal of a final denial to the U.S. Court of Appeals for the D.C. Circuit. On timing, the filed document states: "Effective date: This interim final rule is effective [INSERT DATE OF PUBLICATION IN THE FEDERAL REGISTER]; however, certifications will not be accepted until after Paperwork Reduction Act approval of the information collection. Treasury will post a notification on its website as to when certifications will be accepted." It also states: "Comments on this interim final rule must be received on or before [INSERT DATE 60 DAYS AFTER DATE OF PUBLICATION IN THE FEDERAL REGISTER]." Both bracketed dates are unfilled in the filed text. The Federal Register record lists the document as 55 pages.
On September 29, 2026 the Office of Foreign Assets Control filed for Federal Register public inspection a final rule amending the Cuban Assets Control Regulations, 31 CFR part 515 (document 2026-19973), scheduled for publication on September 30, 2026. The document's summary states: "The Department of the Treasury's Office of Foreign Assets Control (OFAC) is amending the Cuban Assets Control Regulations to implement portions of the President's foreign policy toward Cuba, including as directed by National Security Presidential Memorandum-5". On funds transfers, the rule states: "OFAC is amending Sec. 515.584(d) to remove the authorization for banking institutions subject to U.S. jurisdiction to process these 'U-Turn' transactions and to replace it with an authorization to reject such transactions." The amended section is reproduced in the filed text as authorizing a banking institution subject to U.S. jurisdiction to reject funds transfers originating and terminating outside the United States where the stated conditions apply. The rule also revises 31 CFR 515.209 so that indirect as well as direct financial transactions with entities and subentities on the Cuba Restricted List are prohibited, and states: "A person engages in an indirect financial transaction by participating in a transfer of funds, but not acting as an originator or ultimate beneficiary, where either the originator or the ultimate beneficiary is an entity or subentity on the Cuba Restricted List." The sections listed as amended, added, revised or removed are 31 CFR 515.201, 515.209, 515.421, 515.530, 515.534, 515.542, 515.545, 515.547, 515.560, 515.561, 515.564, 515.565, 515.566, 515.567, 515.570, 515.572, 515.573, 515.574, 515.576, 515.577, 515.578, 515.581, 515.584, 515.590 and 515.591. On timing the filed document states: "This rule is effective [INSERT DATE OF PUBLICATION IN THE FEDERAL REGISTER]" — an unfilled bracket in the filed text.
On September 29, 2026 the Securities and Exchange Commission issued press release 2026-95, "SEC Charges Multiple Entities in Fraud Schemes Totaling at Least $15 Million that Used WhatsApp and Other Platforms to Lure Investors," and companion Litigation Release 26654. The releases name four defendants: Cryptoaiml Ltd., Cryptoaiml Capital Foundation, TSAI Pro Ltd. and TSAI Capital Foundation. The Commission states that "the entities formed WhatsApp group chats where they gained investor trust by impersonating investment professionals and issuing supposed AI-generated trading 'signals' or tips claiming to produce large profits. The defendants allegedly directed investors and clients to open accounts on their fake trading platform and manipulated them into transferring crypto assets to the platform." The releases further state that investors who attempted to withdraw funds were told their accounts were frozen until they paid fraudulent advance fees, and that the TSAI entities represented that investors could earn money "by depositing funds on their online platform for the purpose of renting bots programmed with artificial intelligence to trade on investors' behalf," and falsely claimed to be SEC-regulated while posting fraudulent certificates. The Commission attributes approximately $12.5 million in misappropriated funds to the Cryptoaiml entities and approximately $2.8 million to the TSAI entities. The cases are captioned SEC v. Cryptoaiml Ltd.; Cryptoaiml Capital Foundation, No. 26-civ-08508 (S.D.N.Y.) and SEC v. TSAI Pro Ltd.; TSAI Capital Foundation, No. 26-civ-08518 (S.D.N.Y.). The Commission dates the Cryptoaiml conduct to August 2024 through March 2025 and the TSAI conduct to September 2024 through March 2025, and states that it seeks permanent injunctions, conduct-based injunctions, disgorgement of ill-gotten gains with prejudgment interest, and civil penalties. The allegations have not been proven; the Commission's complaints set out charges that remain to be adjudicated.
The Federal Register issue of September 29, 2026 carries both Federal Reserve Board notices of proposed rulemaking under the GENIUS Act. Document 2026-19860, "Implementing the Federal Reserve Board's Responsibilities Under the GENIUS Act" (Docket No. R-1899, RIN 7100-AH29, 12 CFR Parts 208, 211, 217, 225, 247 and 263), states: "Comments must be received by November 30, 2026." Its summary states that the Board "proposes to issue regulations to implement the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act) with respect to Board-supervised permitted payment stablecoin issuers (PPSIs) and certain other entities that are subject to the Board's jurisdiction." Document 2026-19899, "Application Procedures for Board-Supervised Insured Depository Institutions Seeking Approval for a Subsidiary To Issue Payment Stablecoins" (Docket No. R-1900, RIN 7100-AH30), states: "Comments must be received by the Board on or before November 30, 2026." Both documents carry the action "Notice of proposed rulemaking" and a publication date of September 29, 2026. The Board announced the two proposals on September 24, 2026, when both notices' date sections carried an unfilled placeholder in place of a calendar deadline.
The Federal Register issue of September 29, 2026 carries SEC document 2026-19863, "Self-Regulatory Organizations; Cboe Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Cboe Bitcoin U.S. ETF Index Options ('CBTX') and Cboe Mini Bitcoin U.S. ETF Index Options ('MBTX') Standard Transaction Fees," File No. SR-CBOE-2026-077. The notice states that "on September 15, 2026, Cboe Exchange, Inc. (the 'Exchange' or 'Cboe Options') filed with the Securities and Exchange Commission (the 'Commission') the proposed rule change," and that the "Exchange proposes to amend Cboe Bitcoin U.S. ETF Index options ('CBTX') and Cboe Mini Bitcoin U.S. ETF Index options ('MBTX') standard transaction fees." On comments the notice states: "All submissions should refer to file number SR-CBOE-2026-077 and should be submitted on or before October 20, 2026." The filing is published as a notice of filing and immediate effectiveness.
The Federal Register issue of September 29, 2026 carries SEC document 2026-19916, "Notice of an Application of Cboe Clear U.S., LLC for an Exemption Pursuant to Section 36 of the Securities Exchange Act of 1934 Regarding the Treatment of Customer Margin Under Item 13 and Note F of Exhibit A to Rule 15c3-3." The notice states that "CCUS is requesting exemptive relief on behalf of broker-dealers that are CCUS clearing members ('Clearing Members') from the limitation in Item 13 and Note F of Exhibit A to Rule 15c3-3," and that the relief concerns "margin that is required and on deposit at CCUS for binary options that are cleared by CCUS." On comments the notice states: "Comments should be received on or before October 20, 2026."
On September 25, 2026 the United States Court of Appeals for the Sixth Circuit filed a published opinion in the consolidated appeals captioned KalshiEX LLC v. Schuler, et al. and KalshiEX LLC v. Orgel, et al., Nos. 26-3196/5235, before Circuit Judges Clay, Gibbons and Bloomekatz. The court stated: "While we agree with Kalshi that its sports-event contracts are conditioned on the occurrence of 'event[s],' we conclude that Kalshi's contracts do not depend on events that are 'associated with a potential financial, economic, or commercial consequence,'" and concluded that Kalshi's sports-event contracts "are not swaps under section 1a(47)(A)(ii)" of the Commodity Exchange Act. The opinion states that a qualifying event must be inherently associated with a financial consequence such that hedging risk or deriving pricing information from it would be beneficial. The court further held that even assuming the contracts were swaps, "the CEA neither expressly nor impliedly preempts" the Ohio or Tennessee gambling statutes as applied to Kalshi's offerings, and that the "exclusive jurisdiction" language of section 2(a)(1)(A) addresses the boundaries of regulatory agency authority rather than the preemption of state law. The court affirmed the Southern District of Ohio's denial of a preliminary injunction and vacated the preliminary injunction entered by the Middle District of Tennessee.
Four independent trade outlets - Covers, Casino.org, GamblingNews and PlayUSA, all fetched on 2026-09-28 - report that Florida Attorney General James Uthmeier sent letters to Google, Meta, Reddit, Snap and TikTok concerning the advertising of online sweepstakes casinos to Florida residents. All four report the same five recipients, the same four named operators (Stake, Chumba Casino, LuckyLand and Global Poker) and the same response date of October 23, 2026. As reported by Covers, Uthmeier wrote that the platforms are "not authorized to operate gambling websites or [online casinos in Florida]" and that "[t]he promotion and advertisement of such illegal gambling in Florida is similarly unlawful." As reported by PlayUSA, the letters require each recipient to "confirm to me in writing by October 23, 2026, the steps [the company] has taken to ensure that it is not promoting or otherwise advertising these online 'sweepstakes' casinos" to Floridians. The four outlets do not agree on the date the letters were sent, reporting September 24, September 25, September 26 and no stated date respectively, and no send date is stated here. The Florida Attorney General's own news-release index was fetched on 2026-09-28 and carries releases dated September 22, 23, 24, 25 and 28, none of which concerns sweepstakes casinos, online gambling or correspondence with social-media platforms. No letter and no official release has been retrieved.
On September 28, 2026 the U.S. Securities and Exchange Commission announced settled charges against Zoe Financial, Inc., a New York-based registered investment adviser that operates a platform matching prospective clients with third-party investment advisers. In Investment Advisers Act of 1940 Release No. 7019, the Commission found that "[b]etween approximately January 2023 and December 2024, Zoe Financial failed to disclose its financial incentive to refer clients to third-party investment advisers that used Zoe Financial's asset management platform," that the firm "described how it mitigated certain other conflicts of interest that arose in its referral process in a misleading way," and that Zoe Financial "did not refer clients 'solely' based on questions during the onboarding process." The Commission's press release states that after Zoe Financial launched Zoe Wealth in January 2023 its salespeople "often suggested advisers using Zoe Wealth that the algorithm had not recommended," and that "Zoe Financial did not adequately disclose the resulting conflict of interest in its Form ADV Brochure until December 2024." The Commission found a willful violation of Section 206(2) of the Investment Advisers Act of 1940 and ordered a censure, a cease-and-desist order, and a civil money penalty of $450,000 payable within 14 days.
On September 24, 2026 the CFTC issued Release Number 9303-26, stating that its Market Participants Division, Division of Market Oversight, and Division of Clearing and Risk "today released updates" to the staff FAQs on registrant and registered entity activities relating to crypto assets and blockchain technologies. The release states the updates address "investments of customer funds in tokenized forms of permitted investments and the use of blockchain technologies to satisfy a registrant's recordkeeping requirements," and that the FAQs "were originally released on March 20, 2026" covering topics addressed in CFTC Staff Letter 25-39 (Tokenized Collateral Guidance) and CFTC Staff Letter 26-05 (Staff No-Action Position Regarding Digital Assets Accepted as Margin Collateral). The updated FAQ document adds Question 12, asking whether an FCM or DCO may invest customer funds in tokenized forms of otherwise permitted investments under Commission Regulation 1.25, answered "Yes, so long as the FCM or DCO can demonstrate the following, as required under Commission Regulation 1.25 and CFTC Staff Letter 25-39"; and Questions 13 through 15, on whether records entities may use blockchain or distributed ledger technologies to satisfy recordkeeping obligations under Commission Regulations 1.31 and 45.2 and whether offchain versions of records must be maintained. Neither the release nor the FAQ document states a comment deadline, effective date or compliance date.
The SEC posted remarks by Commissioner Hester M. Peirce dated September 23, 2026 and titled "Looking for Change in Haystacks: Remarks before SIFMA's Digital Assets Conference." The remarks carry the disclaimer "My views are my own as a Commissioner and not necessarily those of the SEC or my fellow Commissioners," and are the statement of an individual Commissioner rather than an action of the Commission. On the Innovation Exemption the text states: "Actually two exemptions in one order, the Innovation Exemption is a time- and size-limited exemption to facilitate the trading of tokenized securities on crypto networks via automated market makers." On the approach to illicit finance the text states: "The approach is not working particularly well, and technology has outpaced our legacy approach, so it is time for a change," and discusses attribute-based credentials that attest to specific facts without revealing the underlying data that generated those facts.
On September 25, 2026 the Commodity Futures Trading Commission announced in Release Number 9304-26 that it "filed a complaint in the U.S. District Court for the Middle District of Florida against Cash FX Group S.A. and its CEO, Huascar Jose Lopez Castillo, of Brazil; The Conversion Pros, Inc. and its CEO, Ronald Pope, of Oregon; and Justin Halladay, of Florida." The release states the complaint alleges the defendants "operated a multilevel marketing Ponzi scheme, fraudulently soliciting and accepting over $950 million from the public, including individuals in the United States, for the purported purpose of trading retail foreign currency contracts in a commodity pool." According to the release, the defendants "falsely claimed pool funds were traded by expert traders, proprietary algorithms, and artificial intelligence, and promised up to 15% weekly returns on that trading," while "Cash FX engaged in minimal forex trading" and instead "misappropriated nearly all participant funds, using new contributions from participants to pay fictitious trading profits to other participants and paying millions of dollars to each defendant." The release states that Cash FX "also provided false account statements to participants" and that "Cash FX's participants lost at least $406 million." Director of Enforcement David I. Miller is quoted saying the action "reflects our steadfast commitment to addressing fraud wherever we find it." The release states the CFTC "seeks restitution, disgorgement, civil monetary penalties, trading and registration bans, and a permanent injunction against further violations of the Commodity Exchange Act and CFTC regulations, as charged." The allegations described above are the CFTC's; the release states no case number and no hearing date.
The Federal Reserve Board announced on September 24, 2026, for release at 2:30 p.m. EDT, that it "requested public comment on two proposals related to establishing a regulatory framework for Board-supervised payment stablecoin issuers under the GENIUS Act." The Board states that the first proposal "would require that Board-supervised payment stablecoin issuers fully back their stablecoins with certain permissible reserve assets, such as short-term Treasury bills and certain other high-quality, liquid assets," would "establish standardized capital requirements to address certain credit and operational risks of payment stablecoin activities, as well as risk management standards, in accordance with the law," would "introduce rules for Board-supervised firms that safekeep the assets backing payment stablecoins," and would "clarify the permissibility of stablecoin and related activities for Board-supervised banks." The second proposal "would establish a tailored application process for Board-supervised banks applying to issue payment stablecoins," would require applicants "to submit a business plan and financial information, among other documents," and "would also create a process governing appeals, hearings, and final determinations for applications." The Board states: "The comment period will close 60 days after publication in the Federal Register." The two attached notices of proposed rulemaking are captioned "Implementing the Federal Reserve Board's Responsibilities under the GENIUS Act" (Docket No. R-1899, RIN 7100-AH29, amending 12 CFR parts 208, 211, 217, 225, 247 and 263) and "Application Procedures for Board-Supervised Insured Depository Institutions Seeking Approval for a Subsidiary to Issue Payment Stablecoins" (Docket No. R-1900, RIN 7100-AH30, amending 12 CFR parts 247 and 262). As posted, the DATES section of each notice carries an unfilled bracketed placeholder in place of a calendar date, and neither notice appeared on the Federal Register public inspection list for the September 25, 2026 issue. A statement by Governor Barr is linked from the same release.
The U.S. Securities and Exchange Commission published in the Federal Register on September 24, 2026, as document 2026-19514, a notice captioned "Self-Regulatory Organizations; Nasdaq ISE, LLC; Notice of Designation of a Longer Period for Commission Action on a Proposed Rule Change To Amend the Criteria for Underlying Securities" (Release No. 34-106448; File No. SR-ISE-2026-42). The document describes the underlying filing as "a proposed rule change to adopt listing criteria for options on commodity-based trusts that hold one or more digital commodities." It states that "the Commission, pursuant to Section 19(b)(2) of the Act, designates November 11, 2026, as the date by which the Commission shall either approve or disapprove, or institute proceedings to determine whether to disapprove, the proposed rule change." The notice cites the original filing as "Securities Exchange Act Release No. 106067 (Aug. 10, 2026), 91 FR 52387."
The U.S. Securities and Exchange Commission notice "Self-Regulatory Organizations; Coinbase Derivatives, LLC; Notice of Filing of a Proposed Rule Change Relating to Customer Margin Requirements for Security Futures Products" (Release No. 34-106443; File No. SR-COIN-2026-001) was published in the Federal Register on September 24, 2026 as document 2026-19512, at 91 FR 60670-60673. The document had been placed on Federal Register public inspection on September 23, 2026. The published text states that "CDE is submitting this proposed rule change to establish customer-level margin requirements for security futures that align with current Commission (and CFTC) requirements, as described in the following section," and that "All submissions should refer to file number SR-COIN-2026-001 and should be submitted on or before October 15, 2026."
On September 24, 2026 the New York State Office of the Attorney General announced, jointly with Governor Kathy Hochul, a lawsuit against QCX LLC, doing business as Polymarket US, stating that Polymarket's "prediction market is an illegal, unlicensed gambling operation." The announcement states that the platform launched in December 2025 and allows users to wager on the outcomes of uncertain events, beginning with sports, and that "users between the ages of 18-20" can access it while New York requires users to be 21 or older for mobile sports betting. The petition, published in the Attorney General's court-filings directory, is captioned "PEOPLE OF THE STATE OF NEW YORK, by LETITIA JAMES, Attorney General of the State of New York ... against QCX LLC (d/b/a Polymarket US)" and is filed in the Supreme Court of the State of New York, County of New York, with "INDEX NO. UNASSIGNED" printed at filing. Its causes of action cite New York Executive Law section 63(12), Article I section 9 of the New York State Constitution, New York Penal Law sections 225.05, 225.10 and 225.20, New York Racing, Pari-Mutuel Wagering and Breeding Law sections 1367(16)(a), 1367-a(2)(a) and 1367-a(4)(b), and the federal Interstate Wire Act, 18 U.S.C. section 1084(a). The petition seeks relief "permanently enjoining Respondent from continuing to operate a gambling business in New York without being licensed by the New York State Gaming Commission," together with restitution, disgorgement, damages, penalties and costs; the announcement states the suit would require the company to "forfeit all illegal gains, distribute restitution to consumers who were harmed, and pay fines equal to three times the gains the company made through its illegal actions." No index number, return date or response deadline appears in the filed petition or in either announcement.
On September 24, 2026 the Federal Trade Commission announced it "is considering updating its Rule on Impersonation of Government and Businesses or taking other action to prevent online platforms from engaging in ad-optimization practices that further impersonation scams." The announcement states the FTC "published an Advance Notice of Proposed Rulemaking seeking comments on whether ad-optimization tools offered by social media, search engines, and digital marketplace platforms enable scammers to impersonate legitimate businesses and government agencies through online ads." Christopher Mufarrige, Director of the FTC's Bureau of Consumer Protection, is quoted: "Impersonation scams-especially when amplified by digital platforms that profit from them-do more than rob Americans of their hard-earned money." The announcement states consumers "reported losing nearly $3.5 billion to impersonation fraud," that nearly 30% of scam victims were first contacted on social media platforms, and that reported losses from those contacts reached "$2.1 billion." On timing, the announcement states only: "The deadline for submitting comments will be 60 days after the notice is published in the Federal Register." As of September 25, 2026 the notice does not appear on the Federal Register public-inspection list, which was read in full and contains no Federal Trade Commission document, so no calendar comment date is stated in any retrieved document.
The complaint filed by the Commodity Futures Trading Commission on September 24, 2026 in the United States District Court for the Middle District of Florida, Jacksonville Division, captioned "Commodity Futures Trading Commission v. Cash FX Group S.A., et al.," No. 3:26-cv-2573, alleges at paragraph 35 that "Cash FX, facilitated by the back office created by TCP, directed pool participants (including U.S. pool participants) to send funds (i.e. bitcoin) to specified wallets on the blockchain," that "[i]n many instances, Cash FX directed pool participants to transfer their bitcoin to Cash FX wallets, sometimes through third-party payment processors," and that Lopez "transferred the bitcoin (or after exchanging it into another digital asset transferred the funds in that other digital asset) to other wallets he controlled, including to a personal account he controlled at a major cryptocurrency exchange." The complaint alleges at paragraph 38 that "[b]etween April 11 and 14, 2021, Cash FX received into certain wallets it controlled approximately 0.374 BTC, worth around $23,404, from approximately 19 pool participants," and used those funds "to transfer approximately 0.393 BTC, worth around $24,703, in Ponzi payments to approximately 50 different pool participants"; at paragraph 39 that between October 20 and November 4, 2021 it received "approximately 1.372 BTC, worth around $85,363, from approximately 27 pool participants" and on November 7, 2021 transferred "approximately 0.743 BTC, worth around $46,202, in Ponzi payments to approximately 72 different pool participants"; and at paragraph 40 that on June 27, 2022 "Cash FX transferred approximately 58.45 BTC, worth around $1.2 million" into an account it controlled at that exchange, and that "Lopez sold approximately 75 BTC for around $1.5 million USDT" and "then transferred approximately $1.4 million USDT to a pool participant." The named defendants are Cash FX Group S.A.; The Conversion Pros, Inc.; Huascar Jose Lopez Castillo; Ronald Pope; and Justin Halladay. These are allegations in a complaint; no adjudication has occurred.
On September 23, 2026 the Securities and Exchange Commission placed on Federal Register public inspection, scheduled for publication on September 24, 2026, a notice captioned 'Self-Regulatory Organizations; Coinbase Derivatives, LLC; Notice of Filing of a Proposed Rule Change Relating to Customer Margin Requirements for Security Futures Products' (Release No. 34-106443; File No. SR-COIN-2026-001). The document states that 'CDE is submitting this proposed rule change to establish customer-level margin requirements for security futures that align with current Commission (and CFTC) requirements.' It directs that all submissions refer to file number SR-COIN-2026-001 and be submitted on or before a date that appears in the unpublished document as an unfilled placeholder reading 'INSERT DATE 21 DAYS AFTER DATE OF PUBLICATION IN THE FEDERAL REGISTER'; no calendar date is stated in the document as filed.
The CFTC issued release 9302-26 on September 22, 2026, announcing an advisory from its Division of Market Oversight, published as CFTC Staff Letter No. 26-27 and dated the same day. The advisory addresses event contracts that settle on whether an individual will say or 'mention' certain words, attend or appear at an event, or otherwise interact with another person. The release states that such contracts present 'a heightened risk of manipulation because their settlement turns on the discrete conduct of a person that may be neither independently generated nor externally verifiable.' The letter states that 'Under DCM Core Principle 3, each DCM has a specific statutory obligation to list for trading only derivative contracts that are not readily susceptible to manipulation,' and identifies risks including control of the outcome by those closest to it, advance knowledge amounting to material nonpublic information, difficulty of detection where conduct occurs in informal or private settings, and susceptibility to 'social engineering, inducements, or public pressure campaigns.' It sets out factors designated contract markets should consider when designing such contracts under Commission Regulations 40.2 or 40.3, including whether independent obligations constrain the individual whose conduct controls settlement, susceptibility to external pressure, the availability of independent verification and public scrutiny, and the robustness of trading rules, surveillance and controls, and it reminds DCMs to provide complete, contract-specific analysis in Part 40 submissions. The letter states that the advisory 'is informational and does not create new obligations' and 'does not, and may not be relied upon to create any new binding rules or regulations.' Neither document names any exchange, platform or contract, and neither states an effective or compliance date.
SEC document 2026-19408, 'Self-Regulatory Organizations; Bitnomial Exchange, LLC; Notice of a Filing of a Proposed Rule Change Relating to Security Futures Product Listing Standards, Customer Margin and Related Rules', was published in the Federal Register on September 23, 2026 at citation 91 FR 60438, document type Notice, carrying Release No. 34-106421 and File No. SR-BTNL-2026-001. The published document states that Bitnomial Exchange, LLC filed a proposed rule change establishing listing standards and regulatory requirements for cash-settled security futures products on individual equity securities, described as perpetual contracts without scheduled expiration dates, trading on a 24/5 schedule, with settlement incorporating a funding mechanism tied to the premium between the contract price and the index value. Under Solicitation of Comments the published document states: 'Comments must be submitted on or before October 14, 2026.' The filing is not designated immediately effective.
SEC document 2026-19407, 'Self-Regulatory Organizations; Coinbase Derivatives, LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Relating to the Adoption of Coinbase Derivatives, LLC's Rules Governing Cash Settled Futures on Individual Equity Securities and Exchange-Traded Fund Shares, Including Perpetual Single-Stock Futures', was published in the Federal Register on September 23, 2026 at citation 91 FR 60448, document type Notice, carrying Release No. 34-106420 and File No. SR-COIN-2026-002. The published document states that 'On September 18, 2026, Coinbase Derivatives, LLC filed with the Securities and Exchange Commission the proposed rule change described in Items I, II, and III below', that the filing adopts Chapter 12 rules governing cash-settled perpetual futures contracts on individual equity securities and exchange-traded fund shares, and that comments must be submitted on or before October 14, 2026. The document states that 'At any time within 60 days of the date of effectiveness of the proposed rule change, the Commission, after consultation with the CFTC, may summarily abrogate the proposed rule change.'
SEC document 2026-19409, 'Self-Regulatory Organizations; KalshiEX LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Relating to Listing Standards for Security Futures Products', was published in the Federal Register on September 23, 2026 at citation 91 FR 60467, document type Notice, carrying Release No. 34-106422 and File No. SR-KALSHIEX-2026-02. The published document states that 'on September 18, 2026, KalshiEX LLC ("Kalshi" or "Exchange") filed with the Securities and Exchange Commission ("Commission") the proposed rule change', and that the filing adopts Chapter 14 of Kalshi's Rulebook to list Perpetual Security Futures Products, described as perpetual contracts on underlying equity securities with no fixed expiration date. The document as retrieved states no comment deadline, and the Federal Register record for it returns no dates value and no comments_close_on value.
Securities and Exchange Commission document 2026-19409 was filed for public inspection on September 22, 2026 at 8:45 a.m. and is scheduled for publication in the Federal Register on September 23, 2026. The document is captioned Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Relating to Listing Standards for Security Futures Products, carries Release No. 34-106422 and File No. SR-KALSHIEX-2026-02, and records the filing as submitted on September 18, 2026 by KalshiEX LLC. The document states that the purpose of the proposed rule change is to enable the Exchange to list contracts that convey exposure to the price of an underlying equity security, have no pre-specified expiration date and are designated as Perpetual SFPs. The filing adopts a new chapter of the KalshiEX rulebook governing Perpetual Security Futures Products, including a daily funding-payment mechanism keyed to the price difference between the contract and the underlying equity security. The Federal Register citation and canonical published URL do not exist until publication.
Securities and Exchange Commission document 2026-19407 was filed for public inspection on September 22, 2026 at 8:45 a.m. and is scheduled for publication in the Federal Register on September 23, 2026. The document is captioned Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Relating to the Adoption of Coinbase Derivatives, LLC's Rules Governing Cash Settled Futures on Individual Equity Securities and Exchange-Traded Fund Shares, Including Perpetual Single-Stock Futures, and carries Release No. 34-106420 and File No. SR-COIN-2026-002. The document states: CDE proposes to adopt Chapter 12 (Security Futures Products) of the CDE Rulebook to allow the listing and trading of cash settled futures on individual equity securities and exchange-traded fund shares, including perpetual single-stock futures. The contracts described are cash-settled, have no fixed expiration date, and settle through daily funding payments rather than final delivery. The Federal Register citation and canonical published URL do not exist until publication.
Securities and Exchange Commission document 2026-19408 was filed for public inspection on September 22, 2026 at 8:45 a.m. and is scheduled for publication in the Federal Register on September 23, 2026. The document is captioned Notice of a Filing of a Proposed Rule Change Relating to Security Futures Product Listing Standards, Customer Margin and Related Rules, and carries Release No. 34-106421 and File No. SR-BTNL-2026-001. The document states: The Exchange is establishing rules for its security-futures business following its notice registration. The proposal adds security-futures requirements to the Exchange's existing rules. The proposal sets generic listing standards for cash-settled security futures on individual equity securities, covers permitted contract types including perpetual contracts without scheduled expiration, and addresses funding mechanics, pricing, settlement and customer margin. Unlike the KalshiEX and Coinbase Derivatives filings of the same date, this filing is not captioned as immediately effective. The Federal Register citation and canonical published URL do not exist until publication.
SEC press release 2026-91, dated September 22, 2026 and titled SEC Censures OTC Link LLC for Repeated Compliance Failures Related to Regulation SCI, states that the Commission settled charges against OTC Link LLC, a New York-based broker-dealer, for violations of Regulation SCI between August 2016 and March 2025. The release states that the Commission found OTC Link failed to establish, maintain and enforce written policies and procedures for its alternative trading system in the areas of systems security, access control and vulnerability management, and failed to promptly remediate deficiencies that examination staff had repeatedly flagged. The release states that the order censures OTC Link LLC, imposes a cease-and-desist order, and imposes a civil penalty of 575,000 dollars. Laura D'Allaird, Chief of the Division of Enforcement's Cyber and Emerging Technologies Unit, is quoted as saying that OTC Link's continual failure to remediate deficiencies even after they were repeatedly flagged by Division of Examinations staff reflects a disregard for their findings. The underlying administrative order is not included in the press release.
Treasury press release sb0633, dated September 22, 2026 and titled Remarks by Deputy Secretary of the Treasury Francis Brooke before the Treasury Market Conference, includes remarks identifying stablecoin providers as a source of demand in the Treasury market. The remarks state that stablecoin providers represent another important source of demand and already own nearly 200 billion dollars of Treasury bills, and further state that as the rules implementing the GENIUS Act are finalized, we may see stablecoin providers continue to grow and add to their holdings of Treasury securities. The figure is as stated by the speaker in the remarks; no underlying data series is cited in the release. Beyond these passages the remarks contain no discussion of cryptocurrency, blockchain, tokenization or digital payment systems, and name no issuer, company or product.
Securities and Exchange Commission document 2026-19388 was published in the Federal Register on September 22, 2026 at citation 91 FR 60168, document type Notice. Its published title is "Order Granting Temporary Conditional Exemptive Relief, Pursuant to Section 36(a)(1) of the Securities Exchange Act of 1934, From the Definition of 'Exchange' in Section 3(a)(1) of the Exchange Act for the Use of Certain Distributed Ledger Trading Venues for Tokenized NMS Stocks and From the Definition of 'Dealer' in Section 3(a)(5) of the Exchange Act for Certain Liquidity Providers for Tokenized NMS Stocks, and Request for Comment". The document carries Release No. 34-106402 and File No. 4-927 and states that "As an initial step in that process, the Commission solicits public comment about possible modifications to the exemptive relief provided in this Order and potential next steps." The document states that the relief is "Set to expire five years after publication." The Federal Register record for the document returns no DATES value and no comments_close_on value; no comment deadline is stated in the record.
Federal Trade Commission document 2026-19289, titled "FleetCor Technologies; Analysis of Proposed Consent Order To Aid Public Comment", was published in the Federal Register on September 22, 2026 at citation 91 FR 60133, document type Notice. The Federal Register record states the action as "Proposed consent agreement; request for comment." and states under DATES: "Comments must be received on or before October 22, 2026." The record's abstract states that "This consent agreement addresses alleged breaches of Federal statutes governing unfair or deceptive business conduct. The accompanying Analysis of Proposed Consent Order details the complaints and settlement provisions." The underlying proposed consent order, announced by the Commission on September 17, 2026, concerns FTC Docket No. 9403 and identifies the respondents as Corpay, Inc. (formerly known as FleetCor Technologies, Inc.) and its CEO, Ronald Clarke; it states that "Provision I requires Respondents to pay the Commission $100,000,000 in monetary relief" and describes a permanent injunction "that requires consent before charging customers, prohibits misrepresentations, and bars other unlawful conduct."
The Commodity Futures Trading Commission issued release 9301-26 on September 21, 2026, titled "CFTC Innovation Task Force to Host Frontier Forum Series on Innovative Financial Technologies". The release announces the Frontier Forum Series, described as "a series of public roundtables on the technologies that are transforming American financial markets", stated to be intended to facilitate dialogue between builders and leaders from the public and private sectors on how the Commission can foster responsible innovation while safeguarding market integrity. On timing the release states: "The inaugural Frontier Forum, focused on artificial intelligence and agentic finance, will take place on Wednesday, October 28, 2026." The release as published does not mention digital assets, cryptocurrency, tokenization, prediction markets or stablecoins.
The Securities and Exchange Commission filed with the Office of the Federal Register on September 21, 2026 a 54-page document titled "Order: Temporary Conditional Exemptive Relief" (document 2026-19388, Release No. 34-106402, File No. 4-927), dated September 17, 2026 and scheduled for publication on September 22, 2026. The order states that the Commission "hereby issues these temporary, conditional exemptions to facilitate the permissioned trading of tokenized NMS stock using innovative automated market makers ('AMMs') and liquidity pools." It grants, under section 36(a)(1) of the Exchange Act, a temporary exemption from the definition of "exchange" in section 3(a)(1) to a Tokenized Securities Venue (TSV), described in the order as an "organization, association, or group of persons that brings together buyers and sellers of Tokenized NMS Stock," and an exemption from the definition of "dealer" in section 3(a)(5) for liquidity providers in an AMM liquidity pool that supply tokenized NMS stock using proprietary capital. Conditions stated in the order include that "A TSV must be a U.S. person"; that smart contracts be "auditable, public, and deployed on a public, permissionless distributed ledger"; publication of a notice on the venue's public website 30 days before operating and written notice to the Commission one business day before operating; tiered volume caps of 0.25% of average daily volume and a maximum of 75 symbols at Tier 1 and 2.5% and 250 symbols at Tier 2, with three-month trading pauses for breaches after a first inadvertent breach; that "A TSV must stop trading in a Tokenized NMS Stock concurrently with any stoppage of trading in the underlying NMS stock on the primary listing exchange"; transaction data made "freely and publicly available" and updated "within ten (10) minutes of the occurrence of any transaction"; a prohibition on borrowing or hypothecating securities or non-security crypto assets on the venue; and preservation of books and records for three years after the exemption ends. The order states it is "Set to expire five years after publication" and is "intended as an interim, targeted measure." The public-inspection record carries no comment-close date and no DATES section was found in the document.
The Federal Trade Commission filed with the Office of the Federal Register on September 21, 2026 a document titled "Consent Order: FleetCor Technologies" (document 2026-19289), scheduled for publication on September 22, 2026. The document concerns FTC Docket No. 9403 and identifies the respondents as "Corpay, Inc. (formerly known as FleetCor Technologies, Inc.) and its CEO, Ronald Clarke." It states that "Respondents unfairly charged their customers, who overwhelmingly are small businesses, a variety of unauthorized fees" and that respondents "misrepresented the gas savings (Count I), fraud-control features (Count II), and fees (Count III)" of their fuel cards. On relief it states that "Provision I requires Respondents to pay the Commission $100,000,000 in monetary relief" and describes a permanent injunction "that requires consent before charging customers, prohibits misrepresentations, and bars other unlawful conduct." On the comment period the document as filed states: "Comments must be received on or before [INSERT DATE 30 DAYS AFTER DATE OF PUBLICATION IN THE FEDERAL REGISTER]." No calendar deadline is stated in the document as filed.
The Securities and Exchange Commission published a notice in the Federal Register on September 21, 2026, document number 2026-19215, titled "Acknowledgement of Receipt of Notice of Registration as a National Securities Exchange Pursuant to Section 6(g) of the Securities Exchange Act of 1934 by North American Derivatives Exchange, Inc." The notice carries Release No. 34-106396 and File No. 10-255 and was filed with the Office of the Federal Register on September 18, 2026. The underlying release, issued September 16, 2026, states that North American Derivatives Exchange, Inc. filed a Form 1-N with the Commission on September 14, 2026, and that "Pursuant to Section 6(g)(3) of the Exchange Act, the Commission hereby acknowledges receipt of the Form 1-N submitted by Nadex." The release states that under Section 6(g)(2)(B) of the Exchange Act "an exchange's registration as a national securities exchange becomes effective contemporaneously with the submission of the written notice on Form 1-N," and that the registration is for the sole purpose of trading security futures products or futures on exempted securities or groups or indexes of securities or options thereon. The Form 1-N as filed gives the name of the exchange as North American Derivatives Exchange, Inc., d/b/a Crypto.com | Derivatives North America, states its state of formation as Delaware, and contains rulebook references to a CFTC-regulated business operating under the brands Crypto.com | Derivatives North America and OG.com. The Federal Register record for the notice contains no DATES section and no comment period.
As reported by CoinDesk (carried on Yahoo Finance, September 21, 2026) and by PYMNTS (September 20, 2026), the Office of the Comptroller of the Currency acted on September 18, 2026 on three national trust bank charter applications from digital-asset firms. CoinDesk reports that "The Office of the Comptroller of the Currency (OCC) conditionally approved three crypto-focused national trust banks on Sept. 18, adding Bastion, Catena, and Agora to a rapidly expanding field of federally regulated digital asset institutions," that "The OCC granted preliminary conditional approval for two new institutions: Catena Trust Bank and Agora National Trust Bank," and that "Bastion Platforms Trust Company received permission to convert its existing New York trust company into Bastion Platforms National Trust Company." PYMNTS names the same three institutions and the same September 18 action date. In its own release of September 18, 2026, Bastion states that "the Office of the Comptroller of the Currency (OCC) has granted the business preliminary conditional approval for a national trust bank charter," that "The charter allows Bastion to bring its stablecoin issuance, custody and conversion products under one federally regulated entity," and that "Bastion will provide fiduciary custody of USDC and other GENIUS Act-compliant digital assets, and white-label stablecoin wallet and issuance services." The OCC's own announcement and the underlying conditional approval letters were not retrieved and are not quoted here; the conditions attached to the approvals are not stated by any source cited above.
Two notices published in the Federal Register on September 18, 2026 give notice of proposed rule changes filed by NYSE Arca, Inc. (Release No. 34-106370, File No. SR-NYSEARCA-2026-93, 91 FR 59199) and NYSE American LLC (Release No. 34-106367, File No. SR-NYSEAMER-2026-82, 91 FR 59217) to permit the listing and trading of "Binary KPI Options." Both filings are dated September 15, 2026. The NYSE American notice defines the product as "a cash-settled option contract listed on an underlying KPI of an issuer with an exercise settlement amount that is established at the creation of the option and with a settlement value that is determined by whether a specific KPI disclosed by the issuer in an earnings-related filing submitted to the Commission meets or exceeds its exercise price." The notices state the contracts are European-style and cash-settled with a fixed exercise settlement amount of $1.00, that "100 binary KPI option contracts equal one standard option contract," and that "the position limit for binary KPI options is the same as the applicable position limit for the stock of the issuer per expiration." The Arca notice identifies an eligible list of roughly 21 to 22 named issuers, including Apple, Inc., Advanced Micro Devices, Inc., Alphabet Inc., Amazon.com, Inc., Bank of America Corporation and Citigroup Inc., and identifies eligible metrics including diluted earnings per share, total revenues and net sales, segment revenues, net interest income and credit loss provisions, operating and gross margins, cash flow, and named operational metrics including hashrate and bitcoin holdings for Marathon Digital Holdings and transaction volumes for Coinbase. The notices state the exchanges take the position that the contracts are options "based on the value" of securities under Section 3(a)(10) of the Securities Exchange Act, are eligible to trade on a registered national securities exchange, and are standardized options subject to the disclosure framework of Rule 9b-1. The proposed rule changes have not been approved. Neither Federal Register page nor the Federal Register full-text endpoint states a comment deadline.
The Board of Governors of the Federal Reserve System announced on September 18, 2026 the execution of three enforcement actions, each a consent prohibition order barring an individual from further participation in the banking industry. The orders were entered with a former employee of Northstar Bank, Bad Axe, Michigan, for misappropriation of customer funds; a former employee of American Express Travel Related Services Company, Inc., New York, New York, for misapplication of funds and conflicts of interest; and a former employee of Regions Bank, Birmingham, Alabama, for check fraud. The release identifies the three institutions only as former employers; none is named as a respondent, and the release states no monetary penalty against any institution.
On September 17, 2026, the Treasury Department announced that OFAC designated, under Executive Order 13902, the Iranian digital assets exchange BitBank; Pishtaz Simorgh Electronic Trade Company, identified in the release as BitBank's developer; and three individuals identified as associates of previously designated Iranian financier Babak Zanjani. The release, titled "Operation Economic Outcast Disrupts Digital Asset Exchange Enabling the Iranian Regime", states that "BitBank is an Iranian digital assets exchange" and that "Between June and July of this year, Zanjani utilized BitBank to facilitate the transfer of hundreds of millions of dollars' worth of Bitcoin to the IRGC." It further states that "Since June of this year, OFAC-designated Hormuz Safe Marine Services Authority has used BitBank to transfer payments it received to the Iranian regime." Secretary of the Treasury Scott Bessent is quoted: "Today's designations of Iranian digital asset infrastructure make perfectly clear that efforts to finance the Iranian regime using cryptocurrencies are not beyond OFAC's reach." The corresponding OFAC recent-actions entry for the same date lists BITBANK (a.k.a. BITBANK3) and PISHTAZ SIMORGH ELECTRONIC TRADE COMPANY among entities added to the Specially Designated Nationals List, alongside separate Cuba-related designations and Belarus-related and Russia-related removals.
On September 17, 2026, the SEC announced a temporary, conditional exemptive order it calls the "Innovation Exemption", permitting entities the release describes as "Tokenized Securities Venues" (TSVs) to trade tokenized National Market System stock using automated market makers and "AMM Liquidity Pools", exempt from the definition of "exchange" under the Securities Exchange Act of 1934, with related relief for liquidity providers supplying tokenized NMS stock to those pools using proprietary capital. The release states the relief carries conditions including limits on the symbols and volume traded; a requirement that tokenized stock provide holders the same rights as traditional NMS stock; written notice to an issuer before trading unaffiliated tokenized stock; a requirement that smart contracts be auditable, public and deployed on public permissionless ledgers; a requirement that trading stop concurrently with the underlying stock; and public notice by the venue of its operations and trading activities. The release states the relief runs five years after publication and that the order solicits public comment. Chairman Paul S. Atkins is quoted saying the Commission is "taking a significant step forward, within its statutory authority, to bring America's capital markets into the digital age by facilitating onchain trading of certain tokenized stocks through the 'Innovation Exemption,'" and that the exemption "while temporary, would allow TSVs to trade tokenized NMS stock in a permissioned environment today while the Commission considers the need for additional action to facilitate onchain trading." The release states the order will be published on SEC.gov and in the Federal Register. No comment deadline is stated in the release, and no corresponding Federal Register document had published as of this entry.
On September 17, 2026, the CFTC's Market Participants Division announced a no-action position for passive software providers, described in the release as comparable to Staff Letter 26-09 but now broadly accessible. The release states that the Division "will not recommend the Commission take enforcement action against any such provider or their relevant personnel for failure to register" as introducing brokers or associated persons, limited to the provision and marketing of software facilitating user trading with registered entities, subject to specified conditions. The underlying CFTC Staff Letter 26-25, dated the same day, sets out ten conditions for "Passive Software Providers" engaged only in "Covered Activities": no statutory disqualification of the provider or its principals absent a waiver, with prompt notification if one occurs; disclosure of the provider's relationships with registrants including potential conflicts and fees; risk disclosure statements addressing the risks covered by Commission Regulation 1.55(b) unless the registrant is obligated to provide them; that "Users are onboarded as direct members (for DCMs) or customers (for registered FCMs and IBs), and they continue to have the ability to access the respective Registrant independently of the PSP"; policies ensuring compliance with Commission and NFA rules on public communications and marketing; no advertising requiring NFA pre-approval under NFA Compliance Rule 2-29; written undertakings between the provider and registrants establishing joint and several liability and consenting to Commission jurisdiction; compliance records consistent with Commission Regulation 1.31; notification to the Division on insolvency or bankruptcy; and a notice filed with the Division agreeing to satisfy the conditions and consenting to Commission jurisdiction.
A Federal Trade Commission press release dated September 17, 2026 states that FleetCor Technologies Inc., now known as Corpay Inc., and its chief executive Ronald Clarke agreed to pay $100 million to resolve an administrative action, with the money designated "to provide redress to the company's business customers harmed by its practices." The release states the FTC alleged the company "charged its customers, who overwhelmingly are small businesses," hidden or otherwise unauthorized fees amounting to hundreds of millions of dollars, including late fees charged to customers who had paid on time or had been prevented from paying on time, and that the company misrepresented "the gas savings, fraud-control features, and fees" of its fuel cards. The release states that a federal district court granted summary judgment for the FTC on all counts in 2023 and that in 2026 "a federal appeals court upheld the summary judgment against FleetCor on all counts and affirmed the permanent injunction." The release states the injunction prohibits the company from billing customers without obtaining express informed consent and providing clear and unavoidable information about the charge, from hiding material information behind hyperlinks, and from making deceptive claims about its fuel cards. The matter is identified as FTC Matter No. 182-3000, and the release states the Commission vote was 1-0-1, with Chairman Ferguson recused. The press release does not name the appeals court or give a docket number.
The U.S. House Committee on Ways and Means held a markup on September 16, 2026 at 10:00 AM ET in HVC-210 with H.R. 10357, the Digital Asset Tax Certainty Act, on an agenda of seven bills. The committee's markup notice was retrieved and lists the bill by number and short title. The govinfo BILLSTATUS record for H.R. 10357, also retrieved, states the official title is "To amend the Internal Revenue Code of 1986 to reform the tax treatment of digital assets, and for other purposes", that the sponsor is Rep. Jason Smith (R-MO-8), and that the bill was introduced and "Referred to the House Committee on Ways and Means." on September 14, 2026; at the time that record was retrieved it listed no action later than the September 14 referral. As reported by CoinDesk, The Block, Cointelegraph, CryptoBriefing and AMBCrypto, the committee approved the bill by a vote of 38-5. Those reports state the bill sets a $10 de minimis threshold for network and transaction fees, taxes mining and staking income as ordinary income with implementation beginning December 2027, addresses wash sale rules, transfers and broker requirements, provides specific treatment for qualifying dollar stablecoins, and directs the Treasury Department to establish a Digital Asset Voluntary Disclosure Program within 12 months.
The Block, Prediction News, crypto.news and Law360 report that on September 16, 2026 the prediction-market operator Underdog filed suit against Connecticut officials in federal court, seeking declaratory and injunctive relief against enforcement of Connecticut gambling law over its sports event contracts. Law360 identifies the court as the U.S. District Court for the District of Connecticut. The Block reports that Underdog argues it operates as a "federally regulated designated contract market (DCM)" and that the Commodity Futures Trading Commission has "exclusive jurisdiction" over its trading activity, and that the complaint contends Connecticut's enforcement action is "meritless" and "preempted" because it "directly conflicts with the Commodity Exchange Act's framework". crypto.news reports the company arguing that federal commodities law prevents the state from blocking its sports event contracts. All four reports state the suit responds to cease-and-desist orders issued by the Connecticut Department of Consumer Protection to nine prediction-market platforms earlier in September 2026. The complaint and the case docket number were not retrieved for this entry; Law360, which supplies the court name, places the remaining case particulars behind a subscription paywall.
The CFTC final rule 'Whistleblower Award Determination' (RIN 3038-AF74) was published in the Federal Register on September 16, 2026, at 91 FR 58576 (document number 2026-19006), amending 17 CFR part 165. The document states that the rule is effective October 16, 2026. The rule establishes a 30 percent presumption under which a whistleblower meeting the stated conditions receives the statutory maximum of 30 percent of monetary sanctions where the total award would not exceed $5 million, unless factors warranting reduction such as culpability or unreasonable reporting delay are present. The release states the change is intended to reduce claim processing delays, which it describes as having historically averaged over 2.5 years, by removing the individualized factor-by-factor review previously applied to claims of every size, and makes technical corrections reflecting the 2025 transfer of the Whistleblower Office to the Office of the General Counsel.
In Blue Lake Rancheria v. Kalshi, Inc., No. 25-7504, decided September 16, 2026, a Ninth Circuit panel of Chief Judge Mary H. Murguia and Circuit Judges M. Margaret McKeown and Richard A. Paez, in an opinion by Judge McKeown, affirmed in part, reversed in part and remanded the district court's denial of a preliminary injunction sought by the Blue Lake Rancheria and the Chicken Ranch Rancheria of Me-Wuk Indians. The opinion states that the tribes are likely to succeed on their Indian Gaming Regulatory Act claims and that "The substance of the sports event contracts offered on Kalshi's DCM is sports gambling, regardless of whether Kalshi calls them swaps." It holds that such contracts are "located on Indian lands" when a user enters them from tribal territory even though the operator's infrastructure sits elsewhere, and that because the tribes' secretarial procedures incorporate tribal ordinances requiring tribal authorization for all class III gaming, unauthorized contracts violate those procedures. On the two federal statutes the opinion states: "Because IGRA and the CEA are not 'irreconcilable,' we must harmonize them... The CEA gives the Commission 'exclusive' jurisdiction over covered derivatives trading on designated contract markets. IGRA governs Class III gaming activity located on Indian lands." The opinion rejects the argument that the Unlawful Internet Gambling Enforcement Act displaces IGRA, and affirms dismissal of the tribes' Lanham Act claim, finding the statement that "Sports Betting [Is] Legal in all 50 States on Kalshi" to be unactionable opinion given unsettled legal questions about the products' legality. No injunction has issued: the panel remanded for the district court to consider the remaining preliminary-injunction factors. The underlying district court case is N.D. Cal. No. 3:25-cv-06162.
The House Financial Services Committee's public committee calendar lists a Full Committee "Markup of Various Measures" held September 16, 2026 at 10:00 AM in 2128 Rayburn House Office Building. The govinfo BILLSTATUS record for H.R. 8957 states that the bill is the American Reserve Modernization Act of 2026, that its official title is "To establish a Strategic Bitcoin Reserve and other programs to ensure the transparent management of Bitcoin holdings of the Federal Government", that the sponsor is Rep. Nicholas J. Begich (R-AK) with 22 cosponsors including Rep. Jared Golden (D-ME-2), and that the bill was introduced and referred to the House Committee on Financial Services on May 21, 2026; that record listed no action later than the May 21 referral at the time it was retrieved. The Block, crypto.news, Cointelegraph, CryptoTimes, CryptoAdventure and Bloomingbit report that the committee approved the bill on September 16, 2026 by a vote of 28-21. As reported by crypto.news, under the bill bitcoin deposited into the reserve "would have to remain there for at least 20 years from enactment" and during that period "the assets could not be sold, swapped, auctioned, encumbered or otherwise disposed of"; a study of acquisition strategies "does not authorize borrowing, new taxation, deficit spending or pledging federal assets as collateral to finance Bitcoin purchases"; and "Treasury would publish an annual report giving details on reserve holdings, transactions and control of private keys." As reported by The Block, the bill directs Treasury to establish and maintain a "secure Bitcoin storage facility" and to create a digital asset stockpile for other digital assets. The bill has not passed the House or the Senate.
On September 15, 2026 at 02:19 PM the U.S. Senate took Roll Call Vote No. 234 of the 119th Congress, 2nd Session on the question "On Cloture on the Motion to Proceed (Motion to Invoke Cloture: Motion to Proceed to H.R. 3633)." The Senate's record states the result as "Cloture on the Motion to Proceed Rejected," with 49 Yeas, 50 Nays and 1 Senator not voting, and records the required majority as "3/5." The Senate's record states the measure title as "To provide for a system of regulation of the offer and sale of digital commodities by the Securities and Exchange Commission and the Commodity Futures Trading Commission, to amend the Federal Reserve Act to prohibit the Federal reserve banks from offering certain products or services directly to an individual, to prohibit the use of central bank digital currency for monetary policy, and for other purposes."
In KalshiEX LLC v. Bird, No. 4:26-cv-00109-SHL-HCA, the U.S. District Court for the Southern District of Iowa, Central Division (Judge Stephen H. Locher) entered an order on September 8, 2026 denying KalshiEX LLC's motion for a preliminary injunction against Iowa officials. The order states that the court concludes Kalshi is unlikely to succeed on the merits of its preemption argument. The order observes that the Commodity Futures Trading Commission's "exclusive jurisdiction" extends only to the regulation of "swaps or contracts of sale of a commodity for future delivery"; that "it is harder to conclude that Congress intended for 'event' or 'occurrence' to encompass the outcome of a sporting event"; and that "if Congress intended to preempt state gambling laws when it enacted the Commodity Exchange Act, it should have been clear about that preemption."
On September 10, 2026, Sen. Cynthia Lummis released updated text of the Digital Asset Market Clarity Act ahead of a Senate vote scheduled for Tuesday, September 15, 2026. According to the release, the updated text requires non-decentralized finance protocols to register with the Commodity Futures Trading Commission and to comply with Bank Secrecy Act requirements; limits the application of those DeFi provisions to spot and cash digital commodity transactions; and clarifies the authority of credit unions to engage in digital asset activities. The release states that the legislation incorporates more than 114 provisions sought by Democrats.
On September 14, 2026, Sen. Cynthia Lummis (Chair of the Senate Banking Digital Assets Subcommittee), Sen. John Boozman and Sen. Tim Scott released what their offices describe as the final text of the Digital Asset Market Clarity Act. The release states the text reflects more than a year of bipartisan negotiation and incorporates 126 substantive changes requested by Democrats. According to the release, the final text includes ethics language reflecting substantially all of the Tillis-Gallego ethics proposal together with enforcement roles for state attorneys general; new authority for the Secretary of the Treasury to address deposit flight related to payment stablecoins; modifications to the Blockchain Regulatory Certainty Act shielding developers from money transmission registration requirements and establishing civil safe harbors; and Senate Agriculture Committee provisions adding guardrails on affiliate trading, clarifying the applicability of state consumer protection law, and protecting software developers. The release states that if cloture is invoked on the motion to proceed, the legislative text would be offered as an Amendment in the Nature of a Substitute, and refers to a Senate vote scheduled for Tuesday afternoon.
The Federal Reserve Board published a proposed third-party risk management guide for traditional community banking organizations in the Federal Register on September 15, 2026, at 91 FR 58438 (document number 2026-18852, docket OP-1880). The document states that comments must be received on or before November 16, 2026. The guide is a companion to the interagency third-party risk management guidance published the same day and is addressed to community banking organizations with less than $30 billion in assets. It describes categories of third party commonly used by such institutions, including core processors, payment processing and digital banking providers delivering wire transfers, ACH, mobile banking and treasury management, card issuers, BSA/AML platforms, fraud prevention tools, cybersecurity vendors, IT infrastructure providers and loan management systems, and states that it establishes no enforceable standards. The document states that the proposed guide is not intended for community banking organizations with more complex business models or third-party relationship profiles, such as complex bank-fintech partnerships.
The OCC, the Federal Reserve Board, the FDIC and the NCUA published proposed interagency guidance on third-party risk management in the Federal Register on September 15, 2026, at 91 FR 58536 (document number 2026-18859), under docket numbers OCC-2026-0793, OP-1881 and NCUA-2026-1684. The document states that comments must be received on or before November 16, 2026. The proposal would replace the 2023 Interagency Guidance on Third-Party Relationships and its related supplemental resources with a risk-based approach tailored to a banking organization's size, complexity and risk profile. The document states that the proposed guidance would encourage responsible innovation, consistent with Executive Order 14405, by removing broad-based and overly prescriptive language from the 2023 guidance that may unduly impede fintechs from entering partnerships with banking organizations, and it refers to fintechs that partner with banking organizations to provide access to financial services.
The New York Office of the Attorney General announced on September 14, 2026 that Attorney General Letitia James is leading a bipartisan coalition of 18 attorneys general in a letter to Senate Committee on Banking, Housing, and Urban Affairs Chair Tim Scott and Ranking Member Elizabeth Warren urging Congress to reject the Digital Asset Market Clarity Act as written. The release quotes Attorney General James saying that "as written, the Clarity Act would embolden scammers and potentially strip attorneys general of our authority to protect our states' investors and their wallets," and states that the letter warns the bill would prevent states from serving as the first line of defense against cryptocurrency fraud and would allow the SEC to preempt state securities registration authorities. According to the release, the letter asks Congress to preserve state enforcement authority over both tokenized and non-tokenized securities, maintain federal-state cooperation, codify state regulatory roles and cryptocurrency platform registration requirements, and clarify ambiguous language. Besides New York, the release identifies signatory offices from Arizona, California, Connecticut, Delaware, Illinois, Kansas, Maryland, Massachusetts, Michigan, Minnesota, Nevada, New Jersey, Ohio, Virginia, Washington, Wisconsin and the District of Columbia.
CFTC Press Release 9298-26, dated September 14, 2026, announces 10 whistleblower awards totaling over $150 million on final determinations issued between July and September 2026, and states that awards represent 10 to 30 percent of the monetary sanctions collected in the associated enforcement actions. The release states that since 2014 the CFTC has distributed over $580 million in whistleblower awards connected to enforcement actions that resulted in more than $5.1 billion in monetary sanctions. The release does not identify the underlying enforcement actions, the individual award amounts, the markets involved or the conduct at issue, stating that "consistent with these protections, the CFTC does not disclose the specific enforcement action or the exact award amount."
On September 14, 2026 New York Attorney General Letitia James announced that she led a bipartisan coalition of 18 attorneys general in a letter to Senate leaders on the Digital Asset Market Clarity Act. The announcement states that the attorneys general warn the legislation would "jeopardize their ability to protect investors from rampant digital cryptocurrency fraud," and objects to a grant of authority allowing the Securities and Exchange Commission to preempt state registration authorities. Per the announcement, the letter asks Congress to preserve states' enforcement role for both tokenized and non-tokenized securities, to maintain state registration regimes requiring crypto platforms to certify with states, to preserve federal-state cooperation, and to clarify ambiguous language. The announcement lists the joining jurisdictions as Arizona, California, Connecticut, Delaware, Illinois, Kansas, Maryland, Massachusetts, Michigan, Minnesota, Nevada, New Jersey, Ohio, Virginia, Washington, Wisconsin and the District of Columbia.
A CFTC press release dated September 11, 2026 (Release Number 9297-26) states that the Commission "today approved a final rule that incorporates a 30 percent presumption for whistleblower awards of $5 million or less, subject to Commission discretion and its analysis of relevant regulatory factors." The release states that "The final rule is modeled on the Securities and Exchange Commission's rule 21F-6(c), further enhancing the ongoing efforts at harmonization between the two agencies," and that "The CFTC expects this new provision to improve the efficiency, transparency, and predictability of whistleblower award claims processing." Chairman Michael S. Selig is quoted saying the rule "will help our Whistleblower Office to promptly and transparently process whistleblower claims, representing an important step in further harmonizing the CFTC and SEC." Raagnee Beri, director of the Whistleblower Office, is quoted saying "The Whistleblower Program plays an important role in supporting the Commission's enforcement program" and that the final rule "will protect and enhance the program's effectiveness and further incentivize whistleblowers to report." The release states: "The final rule will be effective 30 days after publication in the Federal Register." As of this entry the rule had not yet been published in the Federal Register, so no calendar effective date is stated in the release.
The FDIC, the Federal Reserve Board, the National Credit Union Administration and the Office of the Comptroller of the Currency announced on September 11, 2026 that they "requested comment on proposed guidance to assist financial institutions with managing risks associated with third-party relationships." The joint release states the proposal "focuses on a principles-based approach and, as with all supervisory guidance, is non-binding," that "When finalized, the federal bank regulatory agencies plan to rescind existing third-party risk management guidance and replace it with the finalized guidance," and that "Comments on the proposed guidance are due 60 days after publication in the Federal Register." The proposed guidance document states that it "would also encourage responsible innovation, consistent with Executive Order 14405, by emphasizing a risk-based and tailored approach to third-party risk management and removing broad-based and overly prescriptive language from the 2023 Guidance that may unduly impede fintechs from entering partnerships with banking organizations." The agencies also issued a statement on community banks' engagement with core service providers, and the Federal Reserve Board separately requested comment on a proposed third-party risk management guide for Federal Reserve-supervised community banks.
banks and credit unions with fintech partners, banking-as-a-service and embedded-finance providers, payments programs, vendor and third-party risk teams
Three SEC notices published in the Federal Register on September 11, 2026 acknowledge Form 1-N filings under Section 6(g) of the Securities Exchange Act of 1934, which allows a CFTC-designated contract market to register as a national securities exchange solely for the purpose of trading security futures products by filing a written notice. According to the notices, Coinbase Derivatives, LLC filed its Form 1-N on September 1, 2026 (Release No. 34-106295, File No. 10-252), KalshiEX LLC filed on September 3, 2026 (Release No. 34-106296, File No. 10-253), and Bitnomial Exchange, LLC filed on September 4, 2026 (Release No. 34-106297, File No. 10-254). Each notice states that "Pursuant to Section 6(g)(3) of the Exchange Act, the Commission hereby acknowledges receipt of the Form 1-N" and that the registration is effective contemporaneously with the submission of the Form 1-N.
SEC notices placed on Federal Register public inspection on September 11, 2026, and scheduled for publication on September 14, 2026, cover immediately effective fee schedule changes by Cboe BZX Exchange (SR-CboeBZX-2026-072), Cboe BYX Exchange (SR-CboeBYX-2026-031), Cboe EDGX Exchange (SR-CboeEDGX-2026-058) and Cboe EDGA Exchange (SR-CboeEDGA-2026-027). Each adds to the definition of "Trading Platform" the words "a similar order-matching execution venue or decentralized platform (including blockchain-based or tokenized environments)." The existing definition covers execution platforms operated as or by a registered national securities exchange, an alternative trading system or an electronic communications network. The Cboe BZX notice states the filing was made September 1, 2026, that "a decentralized or tokenized order-matching venue — may not clearly fall within the current enumerated categories," and that on BZX a Trading Platform is subject to a fee of $5,000 per month for BZX Depth for Non-Display Usage, compared with $2,000 per month for a non-Trading Platform.
An SEC notice placed on Federal Register public inspection on September 11, 2026, and scheduled for publication on September 14, 2026, designates a longer period for Commission action on proceedings to determine whether to approve or disapprove a Nasdaq proposed rule change to list and trade shares of the VanEck JitoSOL ETF under Nasdaq Rule 5711(d) (SR-NASDAQ-2026-016, Release No. 34-106309). The notice states the proposal was filed on March 10, 2026, that "The Commission has received no comment letters on the proposed rule change," and that the Commission is "designating November 15, 2026, as the date by which the Commission shall either approve or disapprove" the proposal. Earlier Federal Register documents in the matter are the notice of filing (March 20, 2026), a notice of designation of a longer period (May 6, 2026) and an order instituting proceedings (June 23, 2026).
Treasury announced on September 10, 2026 designations under Operation Economic Outcast covering Kata'ib Hizballah commanders and members, Popular Mobilization Forces-related officials and entities, an Iranian sanctions-evasion network and a Hizballah financial network. Among the designated entities the release names Shams & Bahr Trading Company L.L.C., described as a Dubai-based hawala, together with Yousef Ibrahim Mansour and Partner for Exchange and Gold Pro SARL in Lebanon, and Al-Brouj For General Contracting Company Ltd and Ain Al-Iraq For Protecting Technology and Audio, Visual, and Communications Solutions Company Ltd in Iraq. The release states that "OFAC published a new Iran Statement of Licensing Policy" establishing "a presumption of denial except as required by law or in certain circumstances, such as risk to life, limb, or environmental safety," that OFAC has begun denying most outstanding Iran-related license requests, and that this approach will be maintained "until Iran changes its behavior." The release further states that an individual agreed to pay $1,427,230 to resolve potential civil liability in connection with providing management consulting and advisory services to an Iranian software company, receiving Iranian dividends in U.S. accounts and acquiring Iranian real property, conduct the release describes as "egregious and not voluntarily self-disclosed." The corresponding OFAC recent-actions entry lists 15 designated individuals and 5 designated entities.
NYDFS issued an industry letter dated September 10, 2026 stating that it is issued to "clarify regulatory requirements and highlight best practices when designing, conducting, and updating Risk Assessments" under the Department's cybersecurity regulation, 23 NYCRR Part 500. The letter addresses governance and oversight; defined methodologies; scope and coverage including assets, emerging risks, third-party relationships and concentration risk; documentation and traceability; and integration into the broader cybersecurity program. It interprets provisions including Section 500.2 (cybersecurity program requirements based on the risk assessment), Section 500.4 (CISO reporting and board oversight), Section 500.9 (risk assessment procedures and updates) and Section 500.13 (asset inventory). The letter states that "This Guidance does not create new obligations." It applies to Covered Entities, defined in Part 500 as any person operating under or required to operate under a license, registration, charter, certificate, permit, accreditation or similar authorization under New York's Banking Law, Insurance Law or Financial Services Law, and references the regulation's existing requirement that the risk assessment be reviewed annually and updated whenever a change in the Covered Entity's business or technology causes a material change to its cyber risk. The letter states no new deadline.
On September 10, 2026 the Connecticut Department of Consumer Protection issued cease-and-desist orders to nine platforms - Polymarket, Coinbase, Crypto.com, Robinhood, ProphetX, Novig, Webull, Gemini and Underdog Predict - directing them to immediately cease advertising, offering, promoting or making available sports event contracts to Connecticut residents, and to allow residents to withdraw funds. The announcement states that nearly 30 subpoenas were issued, including to nine gaming service provider licensees, 15 media organizations, and payment processors including Apple Pay, Google Wallet and Stripe. The stated legal basis is the Connecticut Unfair Trade Practices Act and Connecticut gaming statutes, and the announcement states that non-compliance carries civil penalties under state law and/or criminal penalties for gaming statute violations.
Treasury announced on September 9, 2026 that OFAC designated Xinbi Guarantee, which the press release describes as "a Chinese-language platform used extensively by Chinese cybercriminals that operates a large illicit online marketplace" and as a platform that "serves as a central node connecting transnational criminal syndicates, including scam center operators, with merchants." The release states that the platform "processed the equivalent of over $24 billion in digital assets and fiat currency through its marketplace," that it "provides scam operators, money laundering networks, and cybercrime syndicates with escrow services through its platform," and that it launched "XinbiPay, also referred to as NewPay wallet, a cryptocurrency payment and digital wallet application." The release also states the platform "has reportedly been used by North Korean hackers and by several OFAC designated entities." The corresponding OFAC recent-actions entry adds Xinbi Guarantee (Burma; Thailand; Laos) with 51 listed Tron (TRX) digital currency addresses, together with Anwen Technology Co., Ltd. (Cambodia) and Safew Technology Co., Ltd. (Singapore), each designated under the Transnational Criminal Organizations program and identified as linked to Xinbi Guarantee, and Los Tigueriones (Ecuador; Peru) under counter-terrorism authorities. The same action issued new Frequently Asked Questions 1269 and 1270 and amended FAQs 5, 13, 51, 58, 59 and 74 through 78.
The New York Attorney General announced on September 9, 2026 that VGW Holdings Pty. Ltd. and its affiliates will pay $8 million in disgorgement, penalties and costs over what the press release describes as "unlawfully running online gambling platforms in New York." The release names Chumba Casino, Global Poker and LuckyLand Slots as the platforms concerned. It states that although the operators claimed sweeps coins were provided for free, players "could obtain sweeps coins the same way one might purchase chips in a casino, receiving approximately one coin for every dollar spent." The release states that the operators ended the sale of sweepstakes coins in New York following cease and desist letters, and cites New York law prohibiting online platforms from offering gambling that involves risking something of value, including redeemable virtual coins. Attorney General Letitia James is quoted stating that "Online sweepstakes casinos like Chumba Casino, Global Poker, and Luckyland Slots posed a dangerous threat to New Yorkers and their financial and mental health."
A Federal Register notice published September 9, 2026 covers SEC file number SR-NasdaqTX-2026-039, a Nasdaq Texas, LLC proposed rule change amending Rule 5711(d) (Commodity-Based Trust Shares), filed with notice and an order granting accelerated approval. The notice states the change allows "a buffer of up to 15% of the net asset value... to consist of certain assets that do not meet the eligibility criteria under the generic listing standards," including digital commodities that do not meet the criteria and securities outside the requirements. It adds a definition of "digital commodity" as "a commodity that is a digital asset and is intrinsically linked to and derives its value from the programmatic operation of a functional crypto system," and permits actively managed strategies for series of Commodity-Based Trust Shares previously limited to passive index-tracking approaches. Comments are stated as due September 30, 2026.
A Federal Register notice published September 9, 2026 covers SEC file number SR-FINRA-2026-018, a FINRA proposed rule change to amend Rules 0150, 2165 and 4512 and to adopt new Rule 2166. As described in the notice, the change to Rule 2165 extends the maximum temporary hold period for suspected financial exploitation of specified adults from 55 to 145 business days, in three 30-business-day increments with additional safeguards and documentation requirements. New Rule 2166 permits a member firm to delay a transaction or disbursement for up to 10 business days where it has a reasonable belief of fraud targeting any customer regardless of age. Rule 4512 permits "emergency contact" as an alternative term to "trusted contact person" and permits a customer to designate a single trusted contact across accounts, and Rule 0150 is amended to include new Rule 2166 in the exempted-securities framework. The notice states that "FINRA recognizes that member firms may hold crypto assets for customers, such as payment stablecoins regulated by the GENIUS Act" and that terminology is accordingly changed from "funds or securities" to "funds, securities, or other assets." Comments are stated as due September 30, 2026.
On September 9, 2026 the Michigan Gaming Control Board announced that Robinhood Derivatives, LLC agreed to stop offering new sports-related event contracts to Michigan customers by the end of the day on September 11, 2026, and to close out remaining customer positions by October 9, 2026. The Board states the agreement is court-approved and does not concede either party's legal position. The announcement states that the agreement follows a preliminary injunction the Michigan Attorney General secured against KalshiEX earlier in September barring that platform from offering sports-related event contracts to Michigan residents, and that appeals in the underlying litigation are proceeding in the Sixth Circuit.
In a letter dated 2026-09-09 addressed to SEC Secretary Vanessa Countryman and CFTC Secretary Christopher J. Kirkpatrick, filed on SEC comment file S7-2026-21, Stephen John Berger of Citadel Securities writes that "the SEC is - and should remain - the primary regulator of products tied to U.S. public companies and their securities." The letter asks the agencies to ensure that trading venues cannot use self-certification to circumvent SEC jurisdiction over equity-linked products, to "promptly resolve the classification questions presented by emerging equity-linked event contracts and perpetual derivatives," and to commit to timely and efficient review of new product filings. File S7-2026-21 is the joint SEC/CFTC Request for Comment on Further Definition of "Swap" and "Security-Based Swap" and on Alternative Compliance, published in the Federal Register on 2026-06-24 (document 2026-12743; CFTC RIN 3038-AF71, SEC RIN 3235-AN79) with a stated comment deadline of 2026-08-24.
On September 8, 2026, the Financial Crimes Enforcement Network (FinCEN) issued an Alert to assist financial institutions in identifying and reporting procurement networks supporting Iran's aviation industry, stating that the Alert supports Operation Economic Outcast. FinCEN's release is categorised for casinos, depository institutions, the insurance industry, money services businesses, mortgage companies and brokers, the precious metals and jewelry industry, and securities and futures firms. According to Treasury, the Alert contains red flags and typologies to help financial institutions detect, prevent, and report suspicious activity potentially involving Iran's procurement of aircraft and aircraft parts, including when Iran's direct involvement is not readily identifiable in transaction details, and notes that front companies posing as technology, aviation, or logistics companies in third-country jurisdictions purchase aircraft components and related dual-use items for subsequent export to Iran. Treasury states that FinCEN encourages U.S. financial institutions to remain vigilant for suspicious activity connected to Iranian aviation sector procurement networks and to report it to FinCEN. Concurrently, Treasury's Office of Foreign Assets Control sanctioned 36 entities and individuals across multiple jurisdictions for supporting Iran's aviation sector.
The FTC announced on September 8, 2026 an action against payment processor Humboldt Merchant Services, stating that the company "processed payments for more than 1,000 merchants that were shell entities" serving as fronts for fraudulent companies. According to the release, Humboldt opened accounts "despite red flags indicating the merchants were shells," with chargebacks "almost 10 times higher than" industry standards, processed payments for entities it "knew, or consciously avoided knowing, were shell companies," and sought to increase fraudulent transaction volume by placing sham accounts on "a lower-risk bank 'BIN'" to improve approval rates. The release states the matter carries a $12 million judgment for consumer redress and that the proposed order prohibits Humboldt from engaging in "credit card laundering," from processing payments for straw companies, MATCH-listed merchants, law enforcement targets and e-commerce entities using only third-party mailbox addresses, from providing "false or misleading information" in merchant applications, and from "tactics to avoid fraud and risk monitoring, including load balancing." The release states the Commission vote was 2-0 and that the matter was filed in the U.S. District Court for the Eastern District of Michigan.
On September 4, 2026 the Federal Trade Commission announced that global payment processor Nuvei will pay $4.85 million to settle FTC charges that the firm opened and maintained payment processing accounts for merchants it knew or should have known were engaged in deception, including tech support scams. According to the FTC's complaint, Canada-based Nuvei Corporation and its subsidiaries Nuvei International Group Limited, Nuvei Limited, SafeCharge Digital Limited and Nuvei Technologies Inc. processed more than $30 million in consumer payments for Reimage, an offshore tech support scam, from 2017 to 2023, and, through a merchant acquiring bank registered in Cyprus, furnished Reimage and other overseas schemes with accounts that enabled them to take credit card payments from U.S. cardholders. The complaint charges unfair practices in connection with payment processing in violation of the FTC Act and assisting and facilitating deceptive telemarketers in violation of the Telemarketing Sales Rule. The stipulated order, filed as Case No. 2:26-cv-06306 in the U.S. District Court for the District of Arizona, enters a $4,850,000 monetary judgment for consumer redress; bans the defendants from payment processing for any person selling technical support products or services by telemarketing or by pop-up messages relating to device security or performance, or for any person they know or have reason to know is listed on the Mastercard MATCH list for excessive chargebacks, fraud, laundering, merchant collusion or illegal transactions; prohibits false or misleading statements to obtain merchant accounts and prohibits tactics to avoid fraud and risk monitoring programs established by a financial institution, acquirer or payment system operator, including balancing sales volume among multiple merchant accounts or billing descriptors, using shell companies to apply for additional merchant accounts, submitting transactions where no goods or services are exchanged, splitting transactions, and using chargeback-suppression services without assessing the cause of the chargeback rate; and requires the defendants to screen and monitor existing and prospective clients and to conduct enhanced screening and investigation of any client whose chargeback rates exceed the limits set in the order. The Commission vote authorizing the filing was 2-0. The FTC states that defendants neither admit nor deny the allegations and that the case will be decided by the court.
On September 4, 2026 the Federal Reserve Board announced the termination of two enforcement actions, both effective September 2, 2026: a Cease and Desist Order dated August 29, 2024 against United Texas Bank, Dallas, Texas, and a Written Agreement dated July 5, 2023 with Quontic Bank Acquisition Corp. and Quontic Bank Holdings Corp., Astoria, New York. The terminated United Texas Bank order (Docket No. 24-021-B-SM; Texas Department of Banking Order No. 2024-025), issued jointly by the Board of Governors and the Texas Department of Banking, recited that a May 22, 2023 examination by the Federal Reserve Bank of Dallas and the Texas Department of Banking "identified significant deficiencies related to foreign correspondent banking and virtual currency customers, specifically risk management and compliance with applicable laws, rules, and regulations relating to anti-money laundering," including the Bank Secrecy Act, 31 C.F.R. Chapter X, and the AML requirements of Regulation H, "resulting in a compliance program violation." The order had required written plans covering board oversight, corporate governance, the BSA/AML compliance program, customer due diligence, suspicious activity monitoring and reporting, and compliance with Office of Foreign Assets Control regulations. The terminated Quontic written agreement (Docket No. 23-010-WA/RB-HC) was a savings and loan holding company agreement with the Federal Reserve Bank of Philadelphia covering source of strength, capital conservation, a capital plan and cash flow projections. The Federal Reserve publishes terminations as a list and states no reasons for either termination.
The Federal Register published document 2026-18190, "Transfer Agent Rules" (Securities and Exchange Commission), a Proposed Rule, on September 4, 2026, at citation 91 FR 56946. The Federal Register DATES field reads: "This release was published in the Federal Register on September 4, 2026. Comments should be received on or before November 3, 2026." The published abstract states the Commission "is proposing to adopt new rules, amend existing rules, amend the existing form for registration with the Commission as a transfer agent (Form TA-1) and the existing form for reporting activities of transfer agents (Form TA-2), and rescind an existing rule governing registered transfer agents. The proposals are designed to modernize the rules governing registered transfer agents." The proposing release states that market participants "are actively seeking to bring blockchain-native, or 'onchain' transfer agents into the U.S. market, with some firms developing models for blockchain-based recordkeeping, tokenized fund administration, and cross-chain interoperability that would require transfer agents to maintain issuer and securityholder records on distributed ledgers." The release also asks: "Should the rule address whether stablecoins and tokenized deposits can be funds (in addition to cash) and whether the bank account could be a bank's custodial wallet?"
On September 4, 2026, the Office of Foreign Assets Control designated Turkiye-based Golden Global Yatirim Bankasi Anonim Sirketi and its two Istanbul-based subsidiaries, Golden Global Varlik Kiralama Anonim Sirketi and Golden Global Portfoy Yonetimi Anonim Sirketi, pursuant to Executive Order 13902. Treasury's release states the bank and its subsidiaries "have facilitated tens of millions of dollars' worth of transactions for the Islamic Revolutionary Guard Corps-Qods Force (IRGC-QF) and provide the Iranian regime with key correspondent banking access that allows it to move its funds internationally," and that Operation Economic Outcast "will continue to identify these banks and remove their access to the U.S. dollar." All property and interests in property of the designated persons in the United States or in the possession or control of U.S. persons are blocked and must be reported to OFAC, and entities owned 50 percent or more by blocked persons are also blocked. The release further states that engaging in certain transactions involving the persons designated "may risk the imposition of secondary sanctions on participating foreign financial institutions." OFAC concurrently issued Iran General License CC, "Authorizing the Wind Down of Transactions Involving Certain Persons Blocked on September 4, 2026."
In a news release dated September 3, 2026, FinCEN states it published an analysis and an alert to financial institutions "to be vigilant to digital asset investment scams perpetrated by overseas scam centers." The release states that FinCEN analyzed 33,904 Bank Secrecy Act reports involving suspected digital asset investment scam-related activity filed between September 8, 2023, and December 31, 2025, "totaling approximately $12.7 billion in financial activity tied to suspected digital asset investment scams," and that individuals of all ages were targeted "across all 50 states and several U.S. territories." On typology, the release states that scam center operators use "guarantee marketplaces" to purchase illicit services such as online account creation, phishing and money laundering, and that "Professional money launderers integrate scam proceeds into the formal financial system through networks of money mules and through stablecoin transfers to digital asset exchanges outside of the United States." The release states that FinCEN has identified red flags to help financial institutions detect, prevent and report suspicious activity connected to scam centers, and encourages voluntary information sharing under Section 314(b) of the USA PATRIOT Act. The two documents are the FinCEN Alert on Money Laundering Activity Associated with Digital Asset Investment Scam Centers and the Financial Trend Analysis on Digital Asset Investment Scams 2023-2025. The release lists the affected financial institution categories as casinos, depository institutions, insurance, money services businesses, mortgage companies and brokers, precious metals and jewelry, and securities and futures.
On September 3, 2026, the House Committee on Financial Services published a recap of its September 2, 2026 full-committee hearing. The recap quotes witness Heath Tarbert, President of Circle: "The House-passed CLARITY Act, and the various Senate texts now building on it, pursue several common objectives. They allocate regulatory jurisdiction between the securities and commodities regulators along a line that tracks how these instruments actually function. They create a viable, onshore regulatory framework for covered intermediaries-with customer protection, custody, and conflict-of-interest requirements attached. And they extend established illicit-finance authorities to covered intermediaries and activities." It also quotes New York Stock Exchange President Lynn Martin saying "We can bring clarity and certainty to the digital asset economy," and Subcommittee on Oversight and Investigations Chairman Dan Meuser listing the GENIUS Act among legislation the Committee has advanced.
In a news release dated September 2, 2026, FinCEN states it reissued a Geographic Targeting Order that "subjects certain money services businesses (MSBs) - which provide financial services outside of a formal bank - to enhanced reporting requirements with FinCEN." The release states: "The GTO requires MSBs to file Currency Transaction Reports with FinCEN for cash transactions between $1,000 and $10,000 occurring in specific ZIP codes in Bernalillo, Dona Ana, and San Juan counties in New Mexico, and Cameron, El Paso, Hidalgo, Maverick, and Webb counties in Texas. The terms of this GTO are effective for 180 days after publication on the Federal Register." The corresponding Federal Register document, 2026-18194, is a Rule titled "Geographic Targeting Order Imposing Recordkeeping and Reporting Requirements on Certain Money Services Businesses Along the Southwest Border," published September 4, 2026 at 91 FR 56776. The Federal Register abstract states the order requires covered money services businesses "to report and retain records of transactions in currency of $1,000 or more, but not more than $10,000, and to verify the identity of persons presenting such transactions." The Federal Register DATES field reads: "Effective date: This action is effective September 3, 2026." The order defines a "Covered Business" as a money services business as defined in 31 CFR 1010.100(ff) located in the covered geographic area, subject to a carve-out for any money services business covered by an applicable court injunction against the Geographic Targeting Order published by FinCEN on March 14, 2025 at 90 FR 12106.
In a news release dated September 2, 2026, FinCEN states that it, together with the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the National Credit Union Administration and the Office of the Comptroller of the Currency, "issued a joint statement to clarify that confidentiality requirements related to Suspicious Activity Reports (SARs) do not preclude banks from communicating with their customers regarding potentially fraudulent transactions and other suspicious activity or account closures." The release states: "This statement does not alter existing Bank Secrecy Act (BSA) legal or regulatory requirements or establish new supervisory expectations." The release further states that the joint statement "clarifies how banks can ensure compliance with SAR confidentiality requirements and provide customers with transparent and timely communication as part of the bank's fraud investigation." The release lists the affected financial institution categories as casinos, depository institutions, insurance, money services businesses, mortgage companies and brokers, precious metals and jewelry, and securities and futures.
On September 2, 2026, the Office of Foreign Assets Control published a notice restating that U.S. persons holding blocked property as of June 30, 2026 must file an Annual Report of Blocked Property "no later than September 30, 2026," and that "Failure to file the ARBP by September 30 may lead to an enforcement referral." The notice points filers to OFAC's Guidance on Filing the 2026 Annual Report of Blocked Property, and restates a reminder OFAC first issued on July 1, 2026. In the same notice OFAC issued Venezuela-related General Licenses 51D, 54C and 55A and amended Venezuela-related Frequently Asked Question 1247.
On September 1, 2026 the SEC issued Release 2026-81 proposing to update the rules and forms that apply to registered transfer agents. The release states that the Commission's transfer agent rules "have not been substantively updated since the first rules were adopted in the late 1970s and early 1980s." SEC Chairman Paul S. Atkins is quoted saying the proposal "would streamline and modernize the Commission's rules to reflect transfer agents' current processes and operations, including the use of electronic communications and blockchain technology in connection with securities offerings and the transfer of shares." The release states the proposal would amend existing rules and forms, would rescind a rule, and would introduce new rules applying to registered transfer agents and their activities. The proposing release is numbered 34-106246. According to the release, the proposal will be published in the Federal Register and the public comment period will remain open for 60 days after the date of that publication; as of this entry the proposal had not yet appeared in the Federal Register, so the comment period closing date is not yet fixed.
FinCEN's notice of proposed rulemaking, "Proposal of Special Measure Regarding Banque Misr UAE as a Financial Institution Operating Outside of the United States of Primary Money Laundering Concern," was published in the Federal Register on September 1, 2026 (document 2026-17871, citation 91 FR 56085). The Federal Register record lists the comment period as closing on October 1, 2026. The published abstract states that FinCEN "is issuing a notice of proposed rulemaking, pursuant to section 311 of the USA PATRIOT Act, that finds the five United Arab Emirates-based branches of Banque Misr (collectively, Banque Misr UAE) to be of primary money laundering concern" and proposes a special measure to "prohibit U.S. financial institutions from opening or maintaining a correspondent account for, or on behalf of, Banque Misr UAE," to "require U.S. financial institutions to take reasonable steps not to process a transaction for the correspondent account in the United States of a foreign banking institution if such a transaction involves Banque Misr UAE," and to "require U.S. financial institutions to apply special due diligence to their foreign correspondent accounts that are reasonably designed to guard against their use to process transactions involving Banque Misr UAE." The underlying proposal was announced by Treasury on August 28, 2026.
In a press release dated September 1, 2026, the House Committee on Financial Services states that Chairman French Hill (AR-02), Financial Institutions Subcommittee Chairman Andy Barr (KY-06) "and nearly all Committee Republicans unveiled the Consumer Financial Protection Accountability and Reform Act of 2026." The release states the bill "will restore accountability to the Consumer Financial Protection Bureau (CFPB), provide clear and consistent rules for consumers and financial institutions, promote innovation and competition, and establish a more predictable, risk-based approach to federal oversight." On mechanics, the release states: "The bill brings the CFPB into the regular congressional appropriations process, establishes a dedicated Inspector General, and strengthens the transparency and rigor of its rulemaking process. The bill also requires periodic reviews of major rules to ensure their benefits justify their costs." It further states the bill "clarifies the Bureau's authority, strengthens due process, and establishes more predictable standards for supervision and enforcement," "makes clear that agency guidance is not legally binding," "reduces duplicative examinations and supervision," and "promotes proportionate penalties, rewards firms that self-report and remediate problems." Chairman Hill is quoted saying he looks forward "to bringing this legislation to the House floor." The release links the bill text, a one-pager and a section-by-section. The release does not state that the bill has been introduced, referred, marked up or scheduled for floor consideration.
In Release Number 9289-26, dated August 28, 2026, the CFTC announced an order filing and settling charges against Gabriel Perez for misappropriating material, nonpublic information obtained through his federal government employment in order to trade event contracts (i.e., swaps) on a prediction market platform for his personal benefit. Under the order, Perez must disgorge profits of $107,539.02 and pay a civil monetary penalty of $65,000, which the CFTC describes as a substantial discount under the Division of Enforcement's new cooperation advisory because of Perez's cooperation; Perez agreed to cease and desist from further violations of the Commodity Exchange Act and CFTC regulations, and a three-year trading ban is imposed. The order finds that between December 2025 and February 2026, while working as a teleprompter operator for the White House, Perez traded presidential mention market contracts, which are event contracts reflecting words or phrases the President may use during his speeches, generating over $107,500 in profits. The CFTC states that it appreciates the assistance of KalshiEX in this matter.
On August 28, 2026, Treasury announced that FinCEN issued a notice of proposed rulemaking finding that Banque Misr in the United Arab Emirates is a financial institution operating outside the United States of primary money laundering concern. Pursuant to section 311 of the USA PATRIOT Act, FinCEN proposes prohibiting U.S. financial institutions from opening or maintaining a correspondent account for, or on behalf of, Banque Misr UAE. Treasury states the rule would also require U.S. financial institutions to take reasonable steps not to process a transaction for a correspondent account in the United States of a foreign banking institution if such a transaction involves Banque Misr UAE, and to apply to their foreign correspondent accounts special due diligence reasonably designed to guard against their use to process transactions involving Banque Misr UAE. Treasury states the public comment period will close 30 days after the NPRM is published in the Federal Register, and that the finding and proposed special measure apply only to Banque Misr UAE and not to Banque Misr operations in any other country. Treasury estimates that between January 2024 and June 2026, Banque Misr UAE processed approximately $1.8 billion for 103 companies that are potentially part of Iranian shadow banking networks. Separately, OFAC sanctioned Reza Mohammad Taeedi, described as the general manager of Bank Melli's Dubai branch, and Hong Kong-based Kameng Trading Limited, which Treasury states was used by sanctioned Iranian exchange house Pedram Pirouzan Exchange House to launder money for Iran.
On August 27, 2026, in Release 2026-78, the SEC charged 38 entities alleging that they made material misrepresentations in Forms ADV filed with the Commission between 2025 and 2026 to falsely portray themselves as legitimate advisory firms to U.S. investors, and that a number of them used IP addresses tracked to foreign jurisdictions to connect to the Commission's filing system. Laura D'Allaird, Chief of the SEC Enforcement Division's Cyber and Emerging Technologies Unit, is quoted stating that the complaints allege large-scale abuse of SEC adviser filings by persons, several of whom are likely located overseas, exploiting interest in emerging technologies. According to the complaints, the defendants listed places of business at addresses in Colorado where they had no presence, provided phone numbers that are disconnected or belong to unrelated businesses, disclosed ownership structures and numerical data identical or nearly identical to a multitude of other purported exempt reporting advisers, and claimed audits by one of two independent public accounting firms that cannot be found in any public registry of federal or state accountancy firms. The SEC also alleges certain defendants were marketed on websites, some displaying a fake certificate indicating SEC registration. The complaints, filed in the U.S. District Court for the District of Colorado, charge violations of Sections 204(a) and 207 of the Investment Advisers Act of 1940. The SEC states the ERA filings of the 38 entities have been removed from the Commission website, and that its Office of Investor Education and Assistance issued an investor alert warning that scammers are using SEC ERA filings to create a false impression of legitimacy.
The Federal Register published on August 27, 2026 an SEC Notice of Filing of a proposed rule change (Release No. 34-106182, File No. SR-MEMX-2026-25; SEC notice dated August 24, 2026; filed by MEMX on August 11, 2026) in which MEMX LLC proposes to adopt new Chapter 30 of the Exchange Rules to provide for the listing and trading of securities event contracts on the Exchange's options platform, MEMX Options. The filing states that prediction markets recently have experienced significant growth and that these markets generally have developed on exchanges regulated by the Commodity Futures Trading Commission as designated contract markets. The filing describes securities event contracts as cash-settled, European-style binary options that are based on the outcome of an event question related to the financial performance of an issuer of an NMS stock. The Commission is soliciting comments on the proposed rule change.
On August 27, 2026, the New York State Department of State's Division of Consumer Protection issued an alert urging New Yorkers to remain vigilant against increasingly sophisticated investment scams driven by artificial intelligence. The release cites Federal Trade Commission data that 144,041 consumers reported losing over $8 billion to investment scams in 2025, a 38% increase from 2024, with a median loss of $10,560. Among the scam categories the alert enumerates are fake cryptocurrency projects, and among the warning signs it lists opportunities that require payments using cryptocurrency or wire transfers. The alert directs consumers to report cryptocurrency fraud or file a complaint against a virtual currency company in New York State to the Department of Financial Services. The release carries a statement from DFS Acting Superintendent Kaitlin Asrow. The alert is educational guidance and does not announce a rule or an enforcement action.
On August 24, 2026, the U.S. Department of the Treasury's Office of Foreign Assets Control issued five sectoral sanctions determinations pursuant to Executive Order 13902, covering the digital assets, technology, gold, aviation and shipping sectors of the Iranian economy. Treasury states that with the action OFAC "can now sanction any person, regardless of where they are located, that operates in" those sectors, and describes the digital assets sector as one where "the Iranian regime increasingly turns to cryptocurrency as a tool of choice for sanctions evasion, supporting transactions linked to the Islamic Revolutionary Guard Corps (IRGC) and Iranian regime insiders." Treasury states the announcement "expands secondary sanctions exposure for those who continue doing business with the Iranian regime." The determination document is published by OFAC as "Determination Pursuant to Executive Order 13902 - Aviation, Digital Asset, Gold, Shipping, and Technology Sectors of the Iranian Economy." The determinations were announced as part of what Treasury calls Operation Economic Outcast.
On August 24, 2026, OFAC added Iran-related names to the Specially Designated Nationals and Blocked Persons List in an action Treasury says sanctioned nearly 60 entities, individuals and vessels. The published SDN additions include five "Digital Currency Address" identifiers; one listed individual, Almpertos Tsoris of Greece, appears with "Digital Currency Address - USDT TJCBpxZ3yC7C7oegSRZMFxBcscmUVeSA36" under the [IRAN-EO13902] program tag. Treasury states that Arman Kahzadian, designated pursuant to Executive Order 13694 as further amended, "has focused on digital asset heists" and that "in summer 2023, Arman Kahzadian illicitly gained control of a wallet that held over $30,000 worth of Bitcoin." Treasury also states that UAE-based Ivan Obukhov, designated pursuant to Executive Order 13224, "has processed over 100 million dollars' worth of cryptocurrency payments to facilitate oil sales on behalf of the IRGC-QF" since 2023.
On August 24, 2026, the U.S. Department of the Treasury announced the launch of the Quantum-Readiness Task Force, following Executive Order 14412. Treasury describes it as "a public-private initiative to help accelerate the U.S. financial sector's transition to quantum-safe technology in an orderly and operationally resilient manner," building on the G7 Cyber Expert Group roadmap for the transition to post-quantum cryptography. Treasury states the Task Force "will operate through three workstreams: Sector Alignment & PQC Transition; Third-Party & Vendor Readiness; and Digital Assets and Emerging Technology Risk," and that future quantum systems "could break many of the cryptographic tools that protect financial data, payment systems, digital identities, and market infrastructure." Treasury states the Task Force will bring together government, financial institutions, financial market infrastructures, technology providers and other private-sector leaders.
banks and financial market infrastructures, payment processors, fintech platforms, custodians and digital asset infrastructure providers, vendor-risk teams
In a notice titled "Suspension of Certain Iranian Transactions and Sanctions Regulations General Licenses," OFAC states that on August 24, 2026 it announced it is issuing a rule "suspending indefinitely the effectiveness" of five general licenses issued under the Iranian Transactions and Sanctions Regulations, 31 CFR part 560: 31 CFR 560.544 (certain educational activities by U.S. persons in third countries), 31 CFR 560.550 ("Certain noncommercial, personal remittances to or from Iran authorized"), 31 CFR 560.554 (importation and exportation of services related to conferences), Iran General License F (certain services supporting professional and amateur sports activities and exchanges), and Iran General License G (certain academic exchanges and educational services). The notice states that OFAC is concurrently issuing General License BB, "authorizing all transactions prohibited by the ITSR that are ordinarily incident and necessary to the wind down of any transaction previously authorized by one or more of the above general licenses until September 8, 2026, subject to certain conditions," and that transactions previously authorized under the suspended licenses "are no longer authorized by OFAC, except to the extent authorized pursuant to General License BB until September 8, 2026." The notice directs parties seeking a specific license for covered activity occurring after the effective date of the suspension to OFAC's website.
OFAC General License BB, "Authorizing the Wind Down of Certain Transactions Previously Authorized Under the Iranian Transactions and Sanctions Regulations," is dated August 24, 2026 and signed by Bradley T. Smith, Director, Office of Foreign Assets Control. Paragraph (a) states that, except as provided in paragraph (b), transactions prohibited by the Iranian Transactions and Sanctions Regulations (31 CFR part 560) that are "ordinarily incident and necessary to the wind down" of transactions previously authorized under the listed general licenses "are authorized through 12:01 a.m. eastern daylight time, September 8, 2026, provided that any payment to a blocked person is made into a blocked interest-bearing account located in the United States in accordance with the ITSR." The listed authorities are 31 CFR 560.544 (certain educational activities by U.S. persons in third countries), 31 CFR 560.550 (certain noncommercial, personal remittances to or from Iran), 31 CFR 560.554 (services related to conferences in the United States or third countries), Iran General License F (certain services supporting professional and amateur sports activities and exchanges), and Iran General License G (certain academic exchanges and educational services). Paragraph (b) states the general license "does not authorize any other transactions or activities prohibited by the ITSR, any other Executive order, or any other part of 31 CFR chapter V, unless separately authorized."
In press release 9288-26, dated August 21, 2026, the Commodity Futures Trading Commission stated that it held the inaugural meeting of its Innovation Advisory Committee in Washington, D.C. on August 20, 2026, and that the Committee was created to advise the Commission on complex issues at the intersection of technology, law, policy, and finance. The release states that IAC Chair Walt Lukken told members that the Committee is there to provide practical advice to the Commission rooted in real world experiences, and that good policy is informed policy which comes from listening to the people who operate, use, and build these markets every day. The release quotes Chairman Selig's opening remarks that it is not a question of whether innovations like blockchain, artificial intelligence, and prediction markets will transform our markets, but a question of where this innovation will take place and who will write the rules. The release states that members discussed topics including crypto's regulatory evolution, artificial intelligence and compute within the derivatives markets, along with prediction markets and the future of novel event contracts, and that Chairman Selig adjourned the meeting at 4:00 p.m. ET.
On August 21, 2026, OFAC issued Venezuela General License 61, authorizing the supply of certain items and services to Venezuela related to telecommunications, and Venezuela General License 62, authorizing negotiations of and entry into contingent contracts for investment in the telecommunications sector of Venezuela, together with one new Venezuela-related Frequently Asked Question, FAQ 1266. FAQ 1266 states that GL 61 authorizes transactions ordinarily incident and necessary to the provision from the United States or by a U.S. person of goods, technology, software, or services for the installation, maintenance, refurbishment, repair, upgrade, operation, or support of telecommunications in Venezuela, including transactions involving the Government of Venezuela, including but not limited to CONATEL, CANTV and Movilnet, and that authorized transactions include processing payments and arranging shipping, logistics, warehousing, insurance and delivery services. FAQ 1266 further states that GL 61 does not authorize payment terms that are not commercially reasonable, involve debt swaps or payments in gold, or are denominated in digital currency, digital coin, or digital tokens issued by, for, or on behalf of the Government of Venezuela, including the petro. FAQ 1266 also states that GL 61 does not authorize any transaction involving a person located in or organized under the laws of Russia, Iran, North Korea, Cuba, or the People's Republic of China, or an entity owned or controlled by or in a joint venture with such a person; the unblocking of property blocked pursuant to the Venezuela Sanctions Regulations; transactions involving blocked vessels; or the formation of new joint ventures or other entities in Venezuela to develop or invest in the telecommunications sector.
The Securities and Exchange Commission's proposing release titled "Regulation Crypto Assets" was published in the Federal Register on August 21, 2026 at 91 FR 54510, spanning pages 54510 to 54655, as document 2026-17183 under Release Nos. 33-11434 and 34-106150, File No. S7-2026-27, RIN 3235-AN38. The document's DATES section states: "This release was published in the Federal Register on August 21, 2026. Comments should be received on or before October 20, 2026." The published summary states that the Commission "is proposing new rules to create a tailored offering regime for certain investment contracts involving crypto assets," and that the proposed rules "would include two exemptions from the registration requirements of section 5 of the Securities Act of 1933. The first exemption would permit offerings of up to $5 million during a four-year period. The second exemption would permit offerings of up to $75 million during each 12-month period. Under both exemptions, issuers would be required to make certain principles-based narrative disclosures available to their investors. In addition, issuers under the second exemption would be required to provide financial statements and would be subject to ongoing reporting requirements. Issuers that rely on these exemptions would remain subject to the antifraud and antimanipulation provisions of the Federal securities laws." The summary further states that the proposed rules "would include a conditional safe harbor from the term 'investment contract' in the definitions of 'security' in the Securities Act of 1933 and the Securities Exchange Act of 1934," and that if the conditions of that safe harbor are satisfied, "then a crypto asset would be deemed not to be subject to an investment contract for purposes of those definitions of 'security.'" The Commission announced the proposal on August 18, 2026. The proposal is not in effect; it is a proposed rule open for public comment.
On August 20, 2026 the U.S. Department of the Treasury announced proposed guidance governing eligible investments in Trump Accounts, stating the guidance has "a focus on keeping costs low, promoting broad diversification, and helping children's savings grow over the long term." The release states that the proposed guidance "would support the long-term growth of children's Trump Accounts by limiting eligible investments to choices with low expense ratios and excluding products with excessive fees or unnecessarily complex strategies." On scope, the release states: "The proposed guidance establishes a framework for the designation of eligible investments for future Trump Account trustees, including rollover trustees. Under the framework, an eligible index must be designed primarily to measure the performance of a broad segment of the U.S. or global equity market using objective financial criteria." The release notes that Treasury "previously announced that State Street SPDR Portfolio S&P 500 ETF (SPYM) would be the default investment for all Trump Accounts" and "also announced four additional low-cost index ETFs that may be chosen for investment by a parent or other responsible party." Treasury Secretary Scott Bessent is quoted stating, "Every dollar in a child's Trump Account should be working toward that child's financial future, not diminished by unnecessary fees." The announcement describes proposed guidance; the retrieved release does not state a comment deadline, docket number or Federal Register citation.
OFAC designated 10 individuals that are part of a network responsible for transferring cash to Hizballah. Treasury states the network uses couriers travelling on commercial airline flights between Lebanon, Turkiye, the UAE and Iran to move up to hundreds of millions of dollars between jurisdictions, "providing an avenue outside the formal financial system for Hizballah to obtain foreign currency and evade sanctions." OFAC also re-designated Hizballah for service to the Iranian regime under the command of Iran's Islamic Revolutionary Guard Corps-Qods Force. The release states that Yunus Alper Yilmaz "abuses certain Turkiye-based exchange houses as fronts for his business dealings and provided front companies and bank accounts for money transfers connected with the IRGC-QF," and that associates including couriers Halil Ibrahim Kacmaz and Onder Dede "collect cash from the exchange houses," with Vasfi Akyuz coordinating logistics. The action was taken pursuant to Executive Order 13224, as amended. The corresponding SDN List updates were published the same day.
On August 19, 2026 the CFTC announced the U.S. District Court for the Southern District of New York entered supplemental consent orders against Caroline Ellison, former Alameda CEO, and Gary Wang, former Alameda and FTX co-founder. The orders require Ellison and Wang to continue cooperating with the Commission, impose a five-year trading ban and a 10-year registration ban on Ellison, and impose a five-year trading ban and an eight-year registration ban on Wang, with the bans running from the date of entry of the initial consent orders entered December 23, 2022. The supplemental orders acknowledge the Commission is not seeking restitution, disgorgement, and/or civil monetary penalties at this time, a decision based in part on the level of Ellison's and Wang's cooperation in the Commission's investigation and related proceedings, including the parallel criminal actions in which each pled guilty to several criminal charges, and the $11.020 billion forfeiture order in those criminal actions for which they were jointly and severally liable. The initial and supplemental consent orders resolve the CFTC's enforcement actions against Ellison and Wang.
On August 19, 2026 the OCC announced that Comptroller of the Currency Jonathan V. Gould discussed the agency's work to support the Administration's efforts to grow the economy and lead the global digital currency revolution, in a Fireside Chat at the Wyoming Blockchain Symposium in Jackson Hole, Wyoming. In the excerpts released by the OCC, Gould stated that the agency has received 40 new bank charter applications since President Trump took office, that over half of them, 23 of 40, involve some form of digital asset activity, and that on the GENIUS Act, quote, We will have a final rule out by November.
Florida Attorney General James Uthmeier announced the filing of two lawsuits in Hillsborough County Circuit Court against the operators of major online "sweepstakes" casinos, including Stake and VGW's Chumba Casino, LuckyLand and Global Poker, and against the payment processors that enable them. The complaints allege the defendants are operating illegal online gambling enterprises that violate Florida's gambling laws and the Florida Deceptive and Unfair Trade Practices Act. According to the complaints, the defendants use a dual-currency model in which players purchase packages of "Gold Coins" bundled with "Stake Cash" or "Sweeps Coins" that function as redeemable wagering credits that can be cashed out for cryptocurrency, gift cards or cash after minimal play-through requirements. The lawsuits seek permanent injunctions prohibiting the defendants from operating or soliciting in Florida, forfeiture and recovery of money lost by Florida consumers, disgorgement, civil penalties under FDUTPA, restitution and attorneys' fees. The announcement does not name individual payment processors; the two complaints are linked from the release.
The SEC published notice, under Section 19(b)(1) of the Securities Exchange Act of 1934 and Rule 19b-4, of a proposed rule change filed by Cboe BZX Exchange, Inc. on August 10, 2026 to list and trade shares of 3x Gold ETF, 3x Silver ETF, 3x Bitcoin ETF, 3x Ether ETF, 3x Crude Oil ETF and 3x Natural Gas ETF, each a series of the VS Trust, under BZX Rule 14.11(e)(4) governing Commodity-Based Trust Shares. Each fund seeks daily results, before fees and expenses, corresponding to three times the daily performance of its reference commodity, measured by a benchmark of first- and second-month futures contracts. The notice states that the funds "do not meet the standard set forth in BZX Rule 14.11(e)(4)(F), which prohibits leveraged products," and that the trust and the funds operate and are registered as commodity pools with the CFTC and are not registered as investment companies under the Investment Company Act of 1940. Volatility Shares LLC is the sponsor. Submissions referring to file number SR-CboeBZX-2026-065 should be submitted on or before September 9, 2026. The Commission will approve, disapprove or institute proceedings within 45 days of publication, extendable to 90 days.
The U.S. Department of the Treasury issued a Notice of Proposed Rulemaking implementing section 3 of the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, announced August 17, 2026 and published in the Federal Register on August 18, 2026 at 91 FR 53368 (document 2026-16796, RIN 1505-AC95, agency docket TREAS-DO-2026-0496, 24 pages). Treasury states that it "proposes to issue regulations to implement section 3 of the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act regarding the statutory prohibitions and limitations on payment stablecoin issuance, offer, and sale in the United States." The proposal would add a new Part 1523 to 12 CFR Chapter XV, which proposed section 1523.1 states "is issued by Treasury to implement section 3 of the Act (12 U.S.C. 5902) regarding statutory prohibitions and limitations on issuing, offering, selling, and otherwise making available payment stablecoins in the United States." The document asks commenters whether the proposed approach is appropriate "or whether, in the alternative, these regulations should adopt an approach that is more similar to existing securities or commodities regulatory frameworks, such as Regulation S under the Securities Act," and states that "While informed by Regulation S concepts, such an approach need not import Regulation S wholesale." Numbered questions ask whether the proposed definitions of "located in the United States" and "United States" are clear and whether they are under- or over-inclusive, and whether issuance in the United States should turn on the location of the parties or on "other, broader measures of nexus to the United States during the issuance process, such as the use of U.S. financial institutions, payment rails, or other infrastructure." The Federal Register DATES section states that "Comments on the NPRM must be received on or before October 19, 2026." Treasury's accompanying press release states that beginning on January 18, 2027, the expected effective date of the GENIUS Act, a person generally may not issue a payment stablecoin in the United States without an appropriate federal or state license, and that beginning on July 18, 2028 digital asset service providers generally may not offer or sell payment stablecoins to persons in the United States unless issued by a licensed issuer. The release states the NPRM builds on an Advance Notice of Proposed Rulemaking Treasury issued in September 2025.
On August 17, 2026 the Federal Trade Commission announced that online bill payment firm Doxo will pay $2.1 million to settle allegations that the company and two of its co-founders, Steve Shivers and Roger Parks, "used misleading search ads to impersonate consumers' billers and misled consumers about millions of dollars in fees they tacked on to consumers' bills." The FTC's 2024 complaint alleged the defendants used search ads and other advertisements "to trick consumers into using Doxo's third-party bill payment platform to pay utility, car loan and other bills by disguising itself as the official payment channel for those bills," that Doxo's landing page "often featured other companies' names and sometimes even their logos," and that Doxo "did not, however, have a relationship with the overwhelming majority of the companies it claimed were part of its payment network." The FTC alleged Doxo added "delivery fees" that were not clearly disclosed and "deceptively signed consumers up for its recurring subscription program." The Commission states that "At the request of the FTC, a federal court found that Doxo violated the Restore Online Shoppers' Confidence Act for failing to clearly disclose subscription terms and failing to obtain consumers' consent for subscription charges." Under the proposed order the $2.1 million "will be used for consumer redress," and Doxo, Shivers and Parks are prohibited from misrepresenting their affiliation with billers, from using a biller's website address in any search advertisement or using a biller's branded name or logo in a manner that misrepresents affiliation, from misrepresenting amounts consumers will pay or the nature, purpose or total of any fee, from using false representations to obtain a customer's financial information, from misrepresenting a negative option feature including the ability to cancel, and from charging consumers without obtaining their expressed informed consent. The Commission vote approving the stipulated final order was 2-0 and the proposed order was filed in the U.S. District Court for the Western District of Washington. The FTC notes that stipulated final orders have the force of law when approved and signed by the District Court judge.
On August 14, 2026 the Consumer Financial Protection Bureau announced that it "is ceasing publication of unverified complaint narratives and visualizations." The Bureau states that "the publication in the Consumer Complaint Database of unverified complaint narratives and associated data visualizations is entirely discretionary" and that "Many years of experience have demonstrated that the utility of such publication is minimal, while often causing confusion and providing misleading data." The announcement states that complaint narratives "reflect negative consumer experiences and present only one side of an issue," that "these unverified allegations do not always describe violations of the law and the complaint process does not verify the allegations in each consumer's complaint narrative, nor can it, as a practical matter," and that publication "also needlessly harms companies' reputations." On the existing material the Bureau states: "The Bureau considers previously published narratives to be in the public domain for Freedom of Information Act (FOIA) purposes. Like the Federal Trade Commission, the Bureau is placing these narratives and is proactively disclosing them in the CFPB's FOIA Reading Room." The Bureau states it "remains committed to meeting its statutory obligations and will continue to collect, monitor, and respond to consumers' complaints, to systematically review and assess how well companies are providing complete, accurate, and timely responses, to share consumer complaint information securely with prudential regulators, FTC, other federal and state agencies, and to disclose certain data in response to FOIA requests."
On August 18, 2026 the SEC announced it proposed new rules, titled Regulation Crypto Assets, that would create a framework for certain investment contracts involving crypto assets. The proposal includes a one-time exemption from Securities Act registration permitting offerings of up to $5 million during a four-year period, and a second exemption permitting offerings of up to $75 million during each 12-month period. Under both exemptions issuers would be required to make certain principles-based narrative disclosures available to investors, and issuers under the second exemption would also be required to provide financial statements and be subject to ongoing reporting requirements. The proposal further includes a conditional safe harbor from the term investment contract in the definitions of security in the Securities Act of 1933 and the Securities Exchange Act of 1934, and would preempt state securities law registration and qualification requirements for securities issued under a Regulation Crypto Assets exemption as well as certain secondary market transactions. The public comment period will remain open for 60 days following publication of the proposing release in the Federal Register.
On August 18, 2026 the CFTC published a Notice of Proposed Rulemaking seeking public comments on amendments to part 4 of the CFTC's regulations, addressing registration requirements for commodity pool operators and commodity trading advisors, with the stated aim of reducing duplicative and overlapping regulation. The proposed rule would add an exemption from CPO registration for certain investment advisers registered with the Securities and Exchange Commission in relation to commodity pools for which the participants are limited to certain sophisticated investors and which meet other conditions discussed in the proposal, add a related registration exemption for commodity trading advisors, and increase the capital contribution threshold in the current CPO registration exemption for small commodity pools, known as the small pool exemption, to reflect inflation. Comments will be accepted for 45 days following publication in the Federal Register.
On August 12, 2026, King County Superior Court Judge John F. McHale signed an Amended and Updated Order Granting Plaintiff State of Washington's Amended Motion for Preliminary Injunction in State of Washington v. KalshiEX, LLC, No. 26-2-10264-3 SEA. The Washington State Office of the Attorney General announced the order on August 13, 2026. The order directs that Kalshi "shall cease marketing, advertising, promoting, conducting, operating, facilitating, distributing, offering, or accepting event contracts, or other contracts, instruments, or products in Washington, related to sports, elections, politics, entertainment, culture, tech and science, or mentions," and states that this "does not include bets in the following categories, 'Commodities,' 'Climate,' Economics,' and 'Finance.'" It further orders that "By no later than August 19, 2026 Kalshi will implement IP address and residency based geofencing, and by no later than September 2, 2026, Kalshi will implement a multi-source geofencing solution provided through GeoComply," while providing that "Kalshi will not prohibit users from exiting positions they already hold." If implementation with GeoComply is not complete by September 2, 2026, the order states that Kalshi will either pay the State $120,000.00 each day thereafter until implementation is complete or submit a sworn affidavit explaining why implementation remains incomplete, with penalties in an amount to be determined by the Court if it finds insufficient diligence. The order also requires Kalshi to preserve records reasonably related to Washington consumers, including geolocation determinations and marketing and targeting data, to maintain the status quo as to transaction fees obtained from consumers who identified or self-reported as Washingtonians, and to provide Washington the same GeoComply implementation information it provides to Michigan and Nevada. On preemption, the order concludes that "The Commodity Exchange Act (CEA) does not preempt Washington State gambling law," that 7 U.S.C. 2(a)(1)(A) "does not contain express preemption language," that "while the CEA preempts the field of regulating on DCMs, it does not preempt the State of Washington's enforcement of gambling law under RCW 9.46," and that "The impartial access rule does not require Kalshi to violate state law," describing 17 C.F.R. 38.151(b) as a non-discrimination provision. It finds that the State has shown a likelihood that Kalshi's conduct violates multiple provisions of the Washington Gambling Act and that "Kalshi's provision, marketing, and advertising of illegal gambling activities constitute unfair and/or deceptive acts or practices in trade or commerce under RCW 19.86.020." The order records that on December 9, 2025 the Washington State Gambling Commission issued a notice stating that offering events-based contracts or participating in these markets is not authorized in Washington State, and that Kalshi is subject to a preliminary injunction in Nevada. This is a preliminary injunction entered on a likelihood-of-success standard, not a final judgment on the merits.
The SEC published on August 14, 2026 the Chairman's Regulatory Flexibility Agenda at 91 FR 53164 (Release Nos. 33-11416; 34-105483; IA-6963; IC-36153; File No. S7-2026-16), stating that the listed items reflect only the priorities of the Chairman and do not necessarily reflect the views of any individual Commissioner, that the information was accurate as of May 12, 2026, and that comments should be received on or before September 14, 2026. Division of Corporation Finance proposed-rule-stage entries include Sequence No. 483, Crypto Assets, RIN 3235-AN38, printed as a cross-reference to the Regulatory Plan in part II of the same issue. Division of Investment Management entries include Sequence No. 493, Amendments to the Custody Rules, RIN 3235-AN46, likewise printed as a cross-reference. Division of Trading and Markets Sequence No. 499, Transfer Agents, RIN 3235-AL55, carries a full abstract stating the Division is considering recommending that the Commission propose updates to modernize the transfer agent regime, including rules relating to crypto assets and the use of distributed ledger technology by transfer agents, with an advance notice published at 80 FR 81948 in December 2015 and a proposed rule projected for October 2026. The agenda also lists Sequence No. 498, Customer Identification Programs for Registered Investment Advisers and Exempt Reporting Advisers, RIN 3235-AN34, as a long-term action to be issued jointly with the Department of the Treasury under section 326 of the USA PATRIOT Act.
On August 12, 2026 the CFTC's Division of Market Oversight issued Staff Advisory 26-23, announced as Release 9282-26, reminding designated contract markets of their obligations under the Commodity Exchange Act and Part 40 of the Commission's regulations when submitting rule self-certifications for market-maker, liquidity, trading or incentive programs under Rules 40.5 and 40.6. The advisory states that staff have observed an increase in incentive-program rule filings relating to event contract products that are "procedurally or substantively deficient." It states that volume-based rewards with steep tiers or threshold bonuses "can encourage participants to trade solely to reach volume targets, heightening risks of wash-trading, pre-arranged trading, or other fraudulent, manipulative, or disruptive trading practices," that market-maker programs guaranteeing net profits or covering participant losses "may incentivize artificial strategies," and that "sweepstakes-like or randomized rewards programs or prizes based, in whole or in part, on pure chance, rather than pre-defined performance metrics, likely run afoul of Core Principle 2." A footnote adds that rewards "should not be offered through gamified, casino-style, or other chance-based mechanisms, including spin-the-wheel promotions." DMO staff recommend that all designated contract markets that have previously submitted incentive programs under Rule 40.6(a) review those programs for compliance and submit amendments reasonably within the scope of the advisory under Rule 40.6(a) or Rule 40.6(d) by September 14, 2026. The advisory states that it is informational, does not create new obligations, and represents only the views of DMO staff.
The SEC published on August 13, 2026 a notice of filing of a proposed rule change by Nasdaq ISE, LLC, Release No. 34-106067, File No. SR-ISE-2026-42, at 91 FR 52387. The filing would amend ISE Options 4, Section 3 to adopt listing criteria for options on Commodity-Based Trusts that hold one or more digital commodities. It replaces the term "crypto asset" with "digital commodity," defined as a commodity that is a digital asset and is "intrinsically linked to, and derives its value from, the programmatic operation of a functional crypto system, as well as supply and demand dynamics, rather than from the expectations of profits from the essential managerial efforts of others." The exchange states that this definition "is informed by the joint interpretative guidance issued by the SEC and the Commodity Futures Trading Commission, effective March 23, 2026," published at 91 FR 13714. Under the proposal each underlying digital commodity must have a total global supply with an average daily market value of at least $700 million over the last 12 months, and up to 15 percent of the trust's net asset value in the aggregate may consist of digital commodities that do not underlie a derivatives contract trading on a market covered by a comprehensive surveillance sharing agreement. The notice states the exchange has comprehensive surveillance sharing agreements with CME and Coinbase Derivatives through common membership in the Intermarket Surveillance Group. Comments are due on or before September 3, 2026.
On August 13, 2026 Mayor Brandon M. Scott and the City Council of Baltimore filed lawsuits in the Circuit Court for Baltimore City against prediction market operators Kalshi and Polymarket and their affiliated companies. According to the City's announcement, the suits allege the companies violated Baltimore's Consumer Protection Ordinance by operating illegal, unlicensed sports-betting platforms and misleading consumers about the legality and regulatory status of their products. The City states that the complaints allege the platforms let Baltimore residents wager on game winners, point spreads, point totals, player statistics and other propositions commonly offered by licensed sportsbooks, and that although the companies describe these wagers as event contracts or prediction-market trades, the complaints contend they function as sports bets and constitute unlawful gambling under Maryland law. The City asserts claims for unfair, abusive and deceptive trade practices and seeks civil penalties, injunctive relief, restitution for affected consumers, disgorgement of profits and other relief authorized by law. City Solicitor Ebony M. Thompson is quoted saying the companies cannot circumvent Baltimore's consumer protections by repackaging gambling as something else or claiming federal regulation puts them beyond the reach of city laws. The complaints themselves are hosted by outside counsel and were not retrieved for this entry.
On August 13, 2026 New York Attorney General Letitia James and NYDFS Acting Superintendent Kaitlin Asrow announced an agreement with The Western Union Company tied to DFS approval of Western Union's acquisition of International Money Express, Inc. (Intermex), memorialized in an Assurance of Discontinuance filed by the Office of the Attorney General. For three years Western Union must maintain at least the same physical presence in ZIP codes where Intermex locations operate at the time of the acquisition, offer retail remittance services for New York customers to Ecuador, Guatemala, Honduras, Mexico, Nicaragua and Peru at each of those locations, and limit price increases on retail services to only those that keep pace with inflation. Western Union must report to DFS for three years on service terminations and their reasons, on customer communications regarding availability and pricing, and on the number and amount of retail and digital remittances per location by method and destination country together with fee schedules, and must pay for an independent, DFS-approved auditor to conduct an audit one year after the acquisition. The announcement states the Attorney General will be able to take enforcement action or extend the terms of the agreement if Western Union is found to have breached them. It cites roughly 3,000 Western Union licensed agent locations in New York and states Intermex serves more than 6,000 New York consumers per year.
On August 13, 2026 CFTC Chairman Michael S. Selig released the agenda for the inaugural meeting of the Innovation Advisory Committee, scheduled for Thursday, August 20, 2026 from 1:00 pm to 4:00 pm Eastern and to be streamed live on CFTC.gov (release 9283-26). The release states that attendees will discuss topics related to the regulation of crypto assets, artificial intelligence, and prediction markets. The published agenda lists three sessions. Session I, Crypto's Regulatory Evolution: From Uncertainty to Clarity, lists potential topics including the evolution of state licensing regimes and the resulting patchwork of requirements, the absence of a comprehensive federal market structure framework, the impact of overlapping jurisdictions and regulation-by-enforcement policymaking, and opportunities to modernize existing rules using current statutory authority. Session II, Artificial Intelligence: Preparing for Intelligent Markets, lists the rise of agentic finance, autonomous agents capable of executing financial transactions, and the intersection of crypto and AI. Session III, Prediction Markets: Innovation, Jurisdiction, and the Future of Event Contracts, lists the respective roles of federal and state authorities in overseeing prediction markets, recent state litigation and enforcement actions, product design principles for event contracts, and expectations for exchanges listing innovative products. Members of the public may submit comments in connection with the meeting by August 27 through Regulations.gov docket CFTC-2026-1717-0001. The meeting notice appears at 91 FR 51697. The release states the agenda may change and that the views expressed by the Advisory Committees are solely those of the respective Committee.
The CFTC announced on August 11, 2026 (Release 9281-26) that it "exercised its emergency authority in response to KalshiEX, LLC's notification of a market emergency and ordered the exchange to continue to operate in accordance with the Commodity Exchange Act's Core Principles." The Commission states that KalshiEX notified it of the emergency after New York Attorney General Letitia James filed a complaint against the exchange in state court on July 31, in which, per the release, "New York seeks a temporary restraining order prohibiting KalshiEX, LLC from offering all event contracts nationwide and more than $36 billion in damages." Chairman Michael S. Selig is quoted saying that "Congress did not intend for derivatives exchanges to be regulated under a patchwork of state gaming laws" and that "New York has no business regulating these interstate financial markets." The release states that the CFTC has filed lawsuits against Arizona, Connecticut, Illinois, Kentucky, Minnesota, New Mexico, New York, Rhode Island and Wisconsin, and has filed amicus briefs in the U.S. Court of Appeals for the Sixth and Ninth Circuits and the Supreme Judicial Court of Massachusetts. An Emergency Order titled "Market Emergency Declaration" dated August 11, 2026 is linked from the release.
prediction-market platforms, event-contract exchanges and designated contract markets, sportsbook and gaming operators, state gaming and consumer-protection regulators
Treasury announced on August 11, 2026 (release sb0603) that FinCEN "is issuing a final rule that permanently removes the requirement for U.S. companies and U.S. persons to report beneficial ownership information to FinCEN under the Corporate Transparency Act," and that "The final rule is effective on its publication in the Federal Register." Treasury states that FinCEN "will delete previously reported information by U.S. persons—now exempt from the reporting requirements—from the beneficial ownership information database." Per the release, the final rule adopts the exemptions set out in the March 2025 interim final rule and makes the rollback permanent; exempts U.S. persons holding FinCEN IDs from any obligation to update or correct the information they provided to obtain them; eliminates the requirement for foreign companies to report U.S.-person "company applicants"; exempts foreign pooled investment vehicles registered in the United States from reporting a controlling U.S. person; and confirms deletion of information about any individual FinCEN reasonably believes is a U.S. person. The release states that "Under the final rule, foreign entities that are reporting companies will still be required to report beneficial ownership information for foreign individuals," and that FinCEN has issued Frequently Asked Questions. As of the August 12, 2026 Federal Register issue, the rule had not yet appeared in the Federal Register.
On August 11, 2026 the CFTC announced (Release 9280-26) that it filed a complaint in the U.S. District Court for the Middle District of Florida against Goliath Ventures Inc. and CEO Christopher Delgado, alleging "a Ponzi scheme by fraudulently soliciting and accepting funds from the public for crypto asset trading, including in bitcoin and ether," and stating that "approximately 1,600 customers contributed at least $397 million to the defendants' fraud." The CFTC seeks restitution, disgorgement, civil monetary penalties, trading and registration bans and a permanent injunction. The same day the SEC filed its own complaint in the same court (Litigation Release No. 26608), stating that the defendants raised "at least $425 million from over 1,300 investors" through an unregistered securities offering in which investors would "partner" with Goliath to invest in "purported crypto asset liquidity pools," with promised monthly distributions of 3% to 10% and guaranteed return of principal. The SEC alleges that no investor funds or crypto assets were ever placed into any liquidity pool and that Delgado misappropriated at least $51 million. The SEC charges Securities Act Sections 5(a), 5(c) and 17(a) and Exchange Act Section 10(b) and Rule 10b-5, and charges Delgado under Exchange Act Section 15(a)(1); Delgado has consented to a bifurcated settlement subject to court approval. The CFTC release states that Delgado pleaded guilty to related federal criminal charges in June 2026 in a case brought by the U.S. Attorney's Office for the Middle District of Florida. The two agencies' complaints state different victim counts and dollar figures, as quoted above.
The CFTC published a notice of renewal in the Federal Register on August 12, 2026 (91 FR 52047, document 2026-16423) announcing the renewal of the Innovation Advisory Committee and stating that "The Commission has determined that the renewal of the IAC is necessary and in the public's interest." The notice states that the committee "will operate for two years from the date of renewal unless the Commission directs that the IAC terminate on an earlier date." In its Commission-approved public interest determination the CFTC states that "Innovations that may significantly impact our markets include those involving blockchain technologies, artificial intelligence, machine learning, prediction markets, and cybersecurity innovations," and that "The CFTC has statutory anti-fraud and anti-manipulation authority over commodities, which includes certain crypto assets and environmental-based products." The notice records that in FY 2024 the committee approved five recommendations relating to artificial intelligence and six recommendations on decentralized finance, that membership is expected to run to approximately 40-45 uncompensated members drawn from market participants, CFTC registrants, financial technology providers, market infrastructure firms, self-regulatory organizations, public interest groups and academics, and that estimated annual operating cost is $83,581.88. The notice is dated August 10, 2026 and signed by Christopher Kirkpatrick, Secretary of the Commission. The committee's next meeting is scheduled for August 20, 2026, with written public statements due August 27, 2026.
SEC Litigation Release No. 26607, dated August 11, 2026, announces that on August 10, 2026 the Commission filed charges in federal district court in Boston against Netcapital Inc. and five affiliated individuals "for allegedly participating in a fraudulent scheme to overstate Netcapital's revenue while raising more than $25 million from investors." The release states that "from approximately October 2021 through January 2024, Netcapital improperly recognized nearly $14 million in revenue from sham consulting agreements, some of which were forged, which amounted to Netcapital overstating its revenue by approximately 345 percent," and that the inflated revenue appeared in public SEC filings and securities offering materials. Per the release, "The alleged fraudulent scheme involved a Netcapital subsidiary that purportedly entered into consulting agreements with startups or other small companies seeking investment from the public under SEC Regulation Crowdfunding (Reg. CF)," and "the consulting agreements were fictitious." The named defendants alongside the company are John Fanning, Coreen Kraysler, Martin Kay, Paul Riss and Cecilia Lenk. The complaint charges anti-fraud, reporting, certification and books-and-records provisions and seeks permanent and conduct-based injunctions, disgorgement, officer-and-director bars and civil penalties. Lenk consented to a final judgment, subject to court approval, including permanent injunctions and a $50,000 civil penalty.
The New York State Department of Financial Services issued an Industry Letter dated August 11, 2026, addressed to all DFS-regulated entities and captioned “Cybersecurity Threat Alert – N-central Vulnerability.” The letter states that DFS is issuing the alert regarding an active cybersecurity campaign targeting a security vulnerability in the remote monitoring and management system N-central, developed and maintained by N-able, which is used by some managed service providers to centrally monitor, patch, and remotely access their customers’ services and endpoints. According to the letter, threat actors are targeting a Known Exploited Vulnerability in N-central to compromise managed service provider environments; once access is obtained, threat actors may create or register for new services, allowing continued access even after compromised N-central credentials are revoked; and attackers are using a compromised provider’s environment to move laterally into their customer’s networks and information systems with administrator network privileges. DFS states that regulated entities should promptly determine whether N-central is used within their environment or by any managed service provider or other third-party service provider that supports their information systems, and, where it is used, work with those providers to review N-central activity for evidence of unauthorized or persistent access, verify that applicable security updates and other mitigation steps have been implemented, and evaluate whether any systems or credentials were affected. The letter states that the senior governing bodies and senior officers of DFS-regulated entities must actively engage in cybersecurity risk management, including through monitoring and oversight of third-party service providers, and that entities should ensure they continue to report all Cybersecurity Incidents to DFS, including those originating at third-party service providers, as required by 23 NYCRR § 500.17. The letter links N-able’s August 6, 2026 security update, the records for CVE-2026-18556 and CVE-2026-18577, and the Department’s October 21, 2025 guidance on managing risks related to third-party service providers.
virtual currency businesses and money transmitters licensed in New York, banks, insurers, and any DFS-regulated entity using a managed service provider
The U.S. Department of Justice announced on August 10, 2026, in press release 26-909, that Dingwei Chen, a 29-year-old citizen of the People’s Republic of China, pleaded guilty in federal court in Salt Lake City to violating the Arms Export Control Act. Sentencing is scheduled for October 19 and Chen faces a maximum penalty of 20 years in prison. According to the release, Chen attempted to purchase military-grade satellite modems and radios manufactured for the U.S. military by American companies, hardware that may not be legally exported from the United States without a license from the State Department’s Directorate of Defense Trade Controls, which the release states generally does not issue licenses to export military goods and services to China. On the payment arrangements, the release states that after making an initial down payment of over $40,000 U.S. dollars, Chen and his co-conspirators switched to cryptocurrency, noting that “cold wallets are essentially anonymous bank accounts. Each transaction processed through them is private and untraceable,” and that they went on to pay roughly $30,000 worth of USDT, which the release describes as a type of cryptocurrency; the release states these down payments related to the purchase of 10 modems. The release further states that Chen worked with others in China to acquire the systems from foreign arms dealers on the black market, that the group discussed transshipment through Switzerland, pickup in Saipan and finally smuggling through Mexico, and that they communicated using an encrypted app through which Chen claimed the transaction was an initial deal and that he had funding to buy tens of millions of dollars’ worth of additional military equipment. The case was investigated by ICE Homeland Security Investigations and the Defense Criminal Investigative Service and is being prosecuted by the National Security Division’s Counterintelligence and Export Control Section.
The CFTC published a notice of meeting in the Federal Register on August 11, 2026 (91 FR 51697, document 2026-16328) announcing that its Innovation Advisory Committee will hold an in-person meeting for members on August 20, 2026 from 1:00 p.m. to 4:00 p.m. Eastern Daylight Time, with the public able to attend virtually. The notice states: "At this meeting, the IAC will discuss topics including crypto assets, artificial intelligence, and prediction markets, along with recent CFTC activity in these markets." The DATES section states that "Members of the public who wish to submit written statements in connection with the meeting should submit them by Thursday, August 27, 2026," and comments may be submitted through Regulations.gov, by mail or by hand delivery to the Secretary of the Commission. Registration is not required, call-in details and a live webcast on cftc.gov are provided, and a transcript will be published after the meeting. The notice is dated August 7, 2026 and signed by Christopher Kirkpatrick, Secretary of the Commission.
FinCEN's Geographic Targeting Order requiring banks and money transmitters located in Hennepin County and Ramsey County, Minnesota to retain and report records of certain funds transfers of $3,000 or more was published in the Federal Register on August 11, 2026 as a Rule (91 FR 51588, document 2026-16365, 31 CFR part 1010). The order states that its terms "are effective on August 11, 2026, and end on February 6, 2027," and that the action is taken "in furtherance of Treasury's efforts to combat international money laundering relating to government benefits fraud in Minnesota." A Covered Business is any bank as defined in 31 CFR 1010.100(d) or money transmitter as defined in 31 CFR 1010.100(ff)(5) with a branch, subsidiary or office in the two counties. Covered Transactions are funds transfers where the originator or transmittor gives an address in the covered area, is not a public company and is not a BSA-regulated financial institution, and where the beneficiary or the beneficiary's financial institution is located outside the United States. Reports are filed through FinCEN's Financial Industry Portal as CSV files by the end of the month following the month of the transaction. Money transmitters must report "the form of transmittal (wire, convertible virtual currency transmission, ledger entry, or other)" and, for ledger entries tracking credits and debits with hawaladars located internationally, whether cash couriers are used to settle those debits. Records must be retained for five years, and the order states that a Covered Business and its officers, directors, employees and agents "may be liable, without limitation, for civil or criminal penalties for willfully violating any of the terms of this Order."
The Senate Daily Press Gallery floor log for Monday, August 10, 2026 records that the Senate convened for a pro forma session at 10:00 a.m., that Senator Boozman presided and that no business was conducted, and lists further pro forma sessions with no business expected on August 13, 17, 20, 24, 27 and 31 and on September 1, 4, 8 and 10. The log states: "The Senate returns for business on Monday, September 14th at 3:00 p.m. At that time, following any Leader remarks, the Senate will be in a period of morning business. At approximately 5:30 p.m. the Senate will vote on cloture on Executive Calendar #902, Matthew Byrne to be a US District Judge for the Southern District of Ohio." It adds: "Please note: the cloture motion with respect to H.R.3633 - Digital Asset Market Clarity Act will ripen on Tuesday, September 15th at 2:15 p.m." The Gallery's standing schedule line states that "Except for pro forma sessions, the Senate stands adjourned until 3.00 p.m. on Monday, September 14th."
The Federal Trade Commission announced that, at its request, a federal court has temporarily halted a credit repair scheme run by a network of 17 related companies and their principals. The FTC's complaint, filed in the U.S. District Court for the District of Arizona following a 2-0 Commission vote, alleges that since at least 2016 Credit Glory and related entities made false and misleading promises about their credit repair services, impersonated debt collection entities and creditors, collected illegal upfront fees, and charged illegal advance fees on a recurring basis using a negative option without clearly disclosing the recurring fees, taking nearly $200 million from consumers. The FTC alleges violations of the FTC Act, the Credit Repair Organizations Act, the Telemarketing Sales Rule, the Gramm-Leach-Bliley Act, the Restore Online Shoppers' Confidence Act and the Electronic Fund Transfer Act. The FTC notes that it files a complaint when it has reason to believe the named defendants are violating or are about to violate the law, and that the case will be decided by the court.
Treasury and the IRS published final regulations (TD 10053, RIN 1545-BR80, 91 FR 51391) governing backup withholding under Internal Revenue Code section 3406 on reportable payments with respect to third party network transactions. The regulations are effective August 10, 2026 and apply with respect to payments made in calendar years beginning after December 31, 2024. Under the final rules, for payments made in settlement of third party network transactions the amount subject to withholding is determined with regard to the de minimis exception for third party settlement organizations in section 6050W(e): a payment is treated as a reportable payment only if, during the calendar year, the aggregate number of transactions with respect to the participating payee exceeds the number specified in section 6050W(e)(2) and the aggregate amount of all reportable payment transactions exceeds the dollar amount specified in section 6050W(e)(1). The preamble examples use 200 transactions and $20,000. The regulations adopt the January 9, 2026 proposed rules without change and implement section 70432(b)(1) of Public Law 119-21.
CFTC Chairman Michael S. Selig, sponsor of the Innovation Advisory Committee, announced that the IAC will hold its inaugural meeting at 1 p.m. EST on August 20, 2026 in Washington. The release states the Innovation Advisory Committee was created to advise the Commission on complex issues at the intersection of technology, law, policy and finance, and that the committee will provide insights and recommendations to the Commission to help ensure its regulations keep pace with the speed of innovation on what the release calls the new frontier of finance. The meeting will be livestreamed on CFTC.gov, and dial-in and webinar details are published in the release. The CFTC notes that the views expressed by its advisory committees are solely those of the respective committee and do not necessarily reflect the views of the Commission, its staff, or the U.S. government.
The U.S. Senate Daily Press Gallery floor log for the legislative day of Friday, August 7, 2026 - a session that ran into the early hours of Saturday, August 8 - records at 4:52 a.m. that Majority Leader Thune filed cloture on the nomination of Matthew R. Byrne to be United States District Judge for the Southern District of Ohio, and then filed cloture on the motion to proceed to H.R. 3633, Digital Asset Market Clarity Act. The same log records at 4:46 a.m. that the Senate stands adjourned until 3:00 p.m. on Monday, September 14, 2026, that following Leader Remarks the Senate will be in a period of morning business, and that at 5:30 p.m. cloture will ripen on the Byrne nomination. The log records no vote on H.R. 3633, and states no date or time for a cloture vote on the motion to proceed to H.R. 3633.
In Release 9278-26, dated August 7, 2026, the CFTC stated that its Division of Market Oversight and Market Participants Division "recently issued a letter to remind Commission-regulated entities involved in the listing, soliciting, or acceptance of event contracts of their responsibility not to mislead consumers, including the obligation to display clear and accurate pricing information for derivatives products." The release stated that staff "warned that displaying pricing information in the 'American' odds format used by casino gambling bookmakers is likely to mislead market participants about the nature of the transaction and may deprive users of access to indicia of market depth and pricing impact," and that "displaying misleading pricing information in connection with any regulated product risks violating federal law prohibiting the use of manipulative devices." The underlying letter, addressed to "CFTC-Regulated Entities and Affiliates" under the subject "Misleading or Deceptive Practices" and signed by DJ Hennes, Director of the Market Participants Division and Acting Director of the Division of Market Oversight, cites the prohibition on misleading practices in 7 U.S.C. 9 and Commission Regulation 180.1, notes that the same requirements are "mirrored in other rules governing CFTC-regulated entities and their affiliates, for example in National Futures Association Compliance Rule 2-29," and states that designated contract markets "have an obligation to protect market participants from abusive, noncompetitive, or unfair actions by other parties involved in the transaction" under Core Principle 12. The letter states that the divisions "request that CFTC-regulated entities that list, solicit, or accept orders for event contract derivatives products review their pricing displays, marketing material, and other information, as well as information displayed or used by their partners and affiliates and confirm receipt of this letter by August 31, 2026," directing introducing brokers and futures commission merchants to confirm to MPDAlerts@CFTC.gov and designated contract markets to confirm to DMOLetters@CFTC.gov.
On August 7, 2026 the U.S. Department of the Treasury announced that OFAC "is moving against digital asset exchanges that the Iranian regime relies on to launder billions of dollars, maintain covert access to international financial systems, and support the Islamic Revolutionary Guard Corps (IRGC), among other terrorist groups." Treasury states the action targets two major digital asset exchanges used by Tehran along with the ringleader of a multi-jurisdiction front-company network. Siavash Kayvanpour, who operates Republic of Georgia-based SHPS Shelbit and the Shelbit Exchange, is designated under Executive Order 13224, as amended; Treasury states that digital currency addresses belonging to the IRGC sent the equivalent of over $1 million in digital assets to Shelbit Exchange addresses, that more than the equivalent of $2 million was transferred from Shelbit Exchange addresses to IRGC addresses, and that addresses controlled by Kayvanpour sent over $2 million in digital assets to U.S.-designated Nobitex. Also designated under E.O. 13224 are UAE-based Shelbit General Trading LLC, Poland-based Shelbit Technologies Ltd, and UAE-based Crypto Home DMCC and NFT Home DMCC. Iran-based Aban Tether, which Treasury states has processed millions of dollars' worth of transactions involving previously designated Iranian digital asset exchanges including Nobitex, Wallex, Bitpin and Ramzinex, is designated under E.O. 13902. The corresponding SDN listing (OFAC recent action 20260807) records Bitcoin, Ethereum, Tron, BNB and Solana addresses across the Kayvanpour, SHPS Shelbit and Crypto Home DMCC entries, and marks the E.O. 13224 entries as carrying secondary sanctions risk under section 1(b) of E.O. 13224, as amended by E.O. 13886. Treasury states that all property and interests in property of the designated persons in the United States or in the possession or control of U.S. persons are blocked and must be reported to OFAC, that entities owned 50 percent or more by blocked persons are also blocked, and that OFAC may impose civil penalties for sanctions violations on a strict liability basis. Treasury points to FAQ 1250 and amended FAQ 1257 for sanctions risk associated with Iranian digital asset exchanges, including secondary sanctions risk, and states the action was developed in coordination with IRS-Criminal Investigation.
On August 7, 2026 the U.S. Department of the Treasury announced that OFAC "took action against multiple networks spanning several countries for enabling Iran's rahbar banking system to move hundreds of millions of dollars," pursuant to Executive Order 13902. Treasury states this is OFAC's eighth action in 2026 targeting Iran's shadow banking apparatus. Per the release, Iran's Shahr Bank relies on two Dubai-based exchange house fronts, Titan Exchange (also operating as Titan Land Petrochemicals Trading L.L.C and Titan Energy Petroleum Products Trading Co. L.L.C) and Alps International L.L.C-FZ, and Titan Exchange held tens of millions of dollars on behalf of Shahr Bank as of early 2026. Treasury states that rahbar company Farab Soroush Afagh Qeshm operates an illicit payment network to facilitate transactions with China- and UAE-based shell companies, that a UAE-based team identified as the "Safe Group" carries out funds transfers and handles documentation for Chinese shell companies receiving money through intermediary accounts, and that in 2026 Alps International enabled hundreds of millions of dollars of transactions in multiple currencies. Designated individuals include Shahr Bank employee Saeed Ghasempour, FSAQ employees Shima Sharifi and Peivand Mohammad, and information technology specialist Amir Hendi. Designated entities include Hong Kong-based Oviedo Overseas Company Limited, Blue Dash General Trading Company Limited and Gleaming HK Trading Limited, Singapore-based Cailafang Pte. Ltd., and Dubai-based Aydeniz General Trading L.L.C. OFAC separately designated Basheer Abdulkadhim Alwan al-Shabbani under E.O. 13224, as amended. Treasury states that engaging in certain transactions involving the persons designated may risk the imposition of secondary sanctions on participating foreign financial institutions, and that OFAC can prohibit or impose strict conditions on opening or maintaining a U.S. correspondent account or payable-through account of a foreign financial institution that knowingly facilitates significant transactions for a designated person.
On August 7, 2026 the U.S. Department of the Treasury announced that FinCEN renewed its Geographic Targeting Order (GTO) "designed to combat fraud in Minnesota and protect U.S. taxpayers." Treasury states that the GTO "requires banks and money transmitters located in Hennepin and Ramsey Counties in Minnesota to report additional information about funds transfers of $3,000 or more to beneficiaries, recipients, or banks outside of the United States," and that "The terms of this GTO are effective for 180 days after publication on the Federal Register." Treasury further states that on February 27, 2026 FinCEN issued an order exempting a subset of banks from the GTO's requirement to record or report funds transfers where the originator falls into certain categories, that this exemption has been incorporated into the renewed GTO, and that the reporting requirements are otherwise unchanged from those in the February 2026 GTO. Treasury describes the underlying conduct as extensive schemes that fraudulently diverted state and Federal dollars intended for people who lack housing, are food insecure, have disabilities, or are otherwise eligible to receive government benefits, costing Minnesota potentially billions of dollars, a portion of which was laundered overseas. The release links the renewed order, a frequently asked questions document, a submission template and a template dictionary on fincen.gov.
banks and money transmitters operating in Hennepin and Ramsey Counties Minnesota, money services businesses, remittance providers, BSA compliance teams
The order document "Geographic Targeting Order Imposing Recordkeeping and Reporting Requirements on Certain Financial Institutions in Minnesota" (31 CFR Part 1010), signed by FinCEN Deputy Director Jimmy L. Kirby, states: "DATES: Effective Date: This action is effective on August 11, 2026," and "The terms of this Order are effective on August 11, 2026, and end on February 6, 2027." A "Covered Business" is "any bank, as defined in 31 CFR 1010.100(d), or a money transmitter, as defined in 31 CFR 1010.100(ff)(5), with a branch, subsidiary, or office located in the Covered Geographic Area," which the order defines as "Hennepin County and Ramsey County, Minnesota." A Covered Transaction is a funds transfer of $3,000 or more where the originator or transmittor provides an address in the covered area, is not publicly traded on an SEC-regulated exchange, is not a financial institution subject to Bank Secrecy Act anti-money-laundering program requirements, and where "[e]ither the beneficiary or recipient is located outside of the United States or the financial institution used by the beneficiary or recipient to receive the funds is located outside of the United States." Money transmitters must report the recipient's name, address, date of birth, phone number and email address; whether the transmittal was sourced from currency, check, credit or debit card, or other; whether the source of funds includes payments from any federal, state or local government contract or benefit program; "The form of transmittal (wire, convertible virtual currency transmission, ledger entry, or other)"; and "If the transmittal is a ledger entry that tracks credits and debits with hawaladars located internationally, whether the money transmitter uses cash couriers to settle those debits." Reports are due "by the end of the month following the month in which the Covered Transaction took place," filed as a CSV through FinCEN's Financial Industry Portal under file type "Special Measures" with identifier FIN-65547-X3M6T. Records must be retained "for a period of five years from the last day that this Order is effective." The order states that a Covered Business and "any of its officers, directors, employees, and agents, may be liable, without limitation, for civil or criminal penalties for willfully violating any of the terms of this Order," and that it "is being publicly issued, and its terms are not confidential." The information collection carries OMB control number 1506-0056.
The Department of Justice announced on August 7, 2026 (Press Release 26-905) that Daniel Gordiano Valenzuela, 60, a Mexican national, pleaded guilty to money laundering conspiracy. According to the release, he "served as a 'money broker' in an organization that conspired with drug traffickers to launder money for them in Mexico" and "personally arranged for the laundering of $1, 973,076 from the sale of drugs and used a network of co-conspirators to pick up the drug proceeds throughout the United States." The release states: "After delivery of the bulk cash, he provided instructions for the transfer of those funds via cryptocurrency or wire transfer and then received a 'commission,' or percentage of the money laundered successfully." Sentencing is scheduled for November 19 and he faces a maximum penalty of 20 years in prison. The case was investigated by the DEA Detroit Field Division and IRS Criminal Investigation Detroit and is prosecuted by the Criminal Division's Money Laundering, Narcotics and Forfeiture Section and the Eastern District of Kentucky.
On August 7, 2026 New York Attorney General Letitia James issued a consumer alert warning of "increasingly common 'gold bar scams'" targeting seniors. The alert states the scams "usually start with a fake pop-up message on victims' computers, claiming their computer or financial accounts have been compromised or linked to criminal activity," that scammers "convince the victim to give them remote access to their computer and then persuade the victim to convert their money into gold bars to protect their life savings," and that "These gold bars are later collected and laundered by the scammers." According to the alert, "The New York City Police Department (NYPD) has investigated more than 100 gold bar scam cases over the past two years, with total losses exceeding $100 million." The alert states that victims are connected to "an individual posing as a law enforcement officer or government investigator" who tells them they "must withdraw their savings and purchase gold bars or coins from legitimate dealers and turn these bars over to the purported authorities," that "Victims are instructed to keep the matter confidential and not discuss it with bank employees or family members," and that "The scammers will then use couriers to collect the gold from the victim." Published consumer tips include "Never move money out of your bank account at the urging of someone over the phone" and, if someone claims there is an issue with a bank account, to "hang up and contact your financial institution by calling the number printed on your bank statement instead." The alert directs New York City residents to contact their local NYPD precinct and others to file a complaint with the OAG or call 1-800-771-7755.
On August 7, 2026 the Federal Trade Commission announced "a policy statement clarifying that the Commission will not pursue claims based on disparate-impact or 'unfair discrimination' theories." Chairman Andrew N. Ferguson is quoted in the release: "Disparate-impact claims are nearly impossible to square with our colorblind Constitution. They impose liability for discrimination without any evidence that anyone intended to discriminate, which pushes businesses to make race-based decisions in order to avoid liability. The Commission never had authority to impose disparate-impact liability. Today, we announce that the Commission will never do so again." The FTC states that the policy statement follows a Presidential executive order on "Restoring Equality of Opportunity and Meritocracy," and that the statement explains the Commission lacks the statutory authority to consider claims under this theory. On what remains, the release states: "The statement sets forth how the Commission will pursue discrimination claims in appropriate contexts. For example, it will continue to assert disparate-treatment claims under the Equal Credit and Opportunity Act, but it will treat Section 5 of the FTC Act as the consumer-protection statute it has always been." The FTC also states that under the new policy it reviewed past decisions based on statistical analyses designed to show disparate-impact liability and entered into agreements to modify certain compliance-related obligations for Napleton Inc., Passport Auto Group and an individual previously associated with Coulter Motor Company LLC. The release states the Commission vote authorizing the policy statement and approving the agreements was 2-0.
The FTC "Policy Statement Regarding Disparate-Impact Claims and 'Unfair Discrimination' Claims," listed in the FTC Legal Library under date August 7, 2026, states in its Introduction: "The FTC has previously pursued disparate-impact claims in two contexts: under Section 5 of the FTC Act (where they have been styled as 'unfair discrimination' claims), and under the Equal Credit Opportunity Act ('ECOA'). In both instances, the FTC acted ultra vires. Section 5 contains no antidiscrimination cause of action, let alone a disparate-impact one. And while ECOA does prohibit intentional discrimination, it does not authorize disparate-impact claims." It concludes: "Accordingly, in light of (1) the FTC's lack of statutory authority to bring disparate-impact claims and (2) the fundamental legal and policy defects of disparate-impact liability laid out in President Trump's executive order, the FTC will no longer pursue disparate-impact claims in any context. In addition, because Section 5 does not create an antidiscrimination cause of action, the Commission will not bring any such claims under Section 5." The statement identifies the order as "Exec. Order No. 14281, Restoring Equality of Opportunity and Meritocracy, 90 Fed. Reg. 17537 (Apr. 23, 2025)" and says it directs agencies, including the FTC, to "deprioritize enforcement of all statutes and regulations to the extent they include disparate-impact liability." On what survives, the statement says "Intentional discrimination can be combatted through traditional disparate-treatment claims, and the Commission remains firmly committed to bringing such claims where the law allows," citing a July 17, 2025 concurring statement in the Asbury Automotive Group matter (Matter No. 2223135) stating the Commission "will not hesitate to bring disparate-treatment claims under ECOA where the facts support such claims." Footnote 1 states: "This Policy Statement does not confer any rights on any person and does not operate to bind the FTC or the public. In any enforcement action, the Commission must prove the challenged act or practice violates one or more existing statutory or regulatory requirements. In addition, this Policy Statement does not preempt federal, state, or local laws. Compliance with those laws, however, will not necessarily preclude Commission law enforcement action under the FTC Act or other statutes." The same footnote records that the Office of Information and Regulatory Affairs designated the Policy Statement as not a "major rule" as defined by 5 U.S.C. 804(2). The quoted passages are taken from the Introduction and the opening of Part II of the document; the remainder of the document was not read.
As reported by CoinDesk on August 7, 2026, "the U.S. Senate will not vote on the crypto market structure bill before it breaks for the rest of the month," with industry participants still expecting a vote in September. CoinDesk reports that Senate Majority Leader John Thune confirmed through a spokesperson that there would not be a vote on the Clarity Act in August but that there would be one the following month, quoting the statement: "The Dems are insistent on no Clarity vote... I worked with sponsors of the bill. [Senator Cynthia Lummis] was great, and we're getting that queued up first thing when we come back." Per the same report, the Senate returns to Washington on September 14, 2026; its remaining scheduled business before recess is a continuing resolution to fund the federal government, a Russia sanctions bill and a group of nominations; the Clarity Act had no time agreement limiting debate; the bill would require 60 votes to advance; and the outstanding issues include an ethics provision, Agriculture Committee provisions and law-enforcement concerns. The bill, H.R. 3633, previously received independent approvals from the Senate Banking Committee and the Senate Agriculture Committee. CoinDesk credits Politico with first reporting the expected absence of a pre-recess vote.
The Commodity Futures Trading Commission's proposed rule "Conflicts and Affiliations" was published in the Federal Register on August 6, 2026 as document 2026-15948, RIN 3038-AF76. The published document states that the Commission "is proposing new rules and amendments to its existing regulations for futures commission merchants (‘FCMs’), swap execution facilities (‘SEFs’), designated contract markets (‘DCMs’), and derivatives clearing organizations (‘DCOs’)" and that the proposal "addresses requirements relating to financial oversight of FCMs by self-regulatory organizations (‘SROs’) and designated self-regulatory organizations (‘DSROs’), as well as disclosure requirements by FCMs regarding affiliate relationships that an FCM has with a SEF, DCM, or DCO." For SEFs, DCMs and DCOs, the document states the proposal "would also establish requirements, including conflicts of interest rules, to address those registered entities' relationships with certain affiliates, such as FCM affiliates and affiliated principal trading firms," and includes guidance on safeguards to protect the impartiality of SEFs, DCMs and DCOs, addressing "the sharing of resources including staffing, technology, and office space, and limitations on the sharing of non-public information." The DATES section states: "Comments must be in writing and received by October 5, 2026." Comments are to be identified by "Conflicts and Affiliations" and RIN 3038-AF76.
Ludlow Exchange, LLC d/b/a Novig filed a complaint for declaratory and injunctive relief in the U.S. District Court for the Southern District of New York on August 5, 2026 (Case 1:26-cv-06676, Document 3) against New York Attorney General Letitia James, New York State Gaming Commission Executive Director Robert Williams, Chair Brian O'Dwyer, and the Commission's commissioners, each sued in an official capacity. The complaint states that Novig "brings this action to enjoin Defendants from enforcing New York's preempted gambling and sports wagering laws to federally regulated transactions that Congress placed within the exclusive jurisdiction of the Commodity Futures Trading Commission," and that "New York has moved aggressively against federally regulated event-contract trading within its borders, suing both KalshiEX LLC and Coinbase Financial Markets, Inc. under Executive Law Section 63(12) for offering the type of contracts at issue here." It further states that the CFTC designated Novig a Designated Contract Market on June 16, 2026, and that Novig "began offering these event contracts to customers located in New York today." The filed document was retrieved; pages 1 through 5 of 45 were read.
The New York State Department of Financial Services announced on August 5, 2026 that Order Express, Inc., a licensed money transmitter, will pay a $250,000 penalty for violations of the Department's cybersecurity regulation, 23 NYCRR Part 500. According to the Department, its investigators identified deficiencies in the company's cybersecurity program and controls required under the regulation, including a failure to maintain adequate cybersecurity policies for system updates and inadequate risk assessments. The Department states that Order Express has remediated the deficiencies identified by the investigation, and that based on its limited revenue Order Express is exempt from many of Part 500's requirements. The announcement notes that the Part 500 regulation took effect in March 2017 with an amendment effective November 2023.
The U.S. Attorney's Office for the Southern District of New York announced on August 5, 2026 (Press Release 26-231) that Taj Tarsha, founder of Few and Far Limited, "has been indicted for securities and wire fraud for defrauding investors of the crypto startup he founded by making false and misleading statements regarding the use of investor funds and subsequently misappropriating those funds." According to the release, beginning in February 2022 Tarsha solicited investments through Simple Agreements for Future Tokens (SAFTs), under which investors paid upfront for rights to receive FAR tokens at a later date, and "raised over $10 million from the sale of 95 million FAR tokens to at least 67 investors." The offering materials promised that funds would be used to advance development of a decentralized marketplace for non-fungible tokens. The release states that "almost immediately" Tarsha began misappropriating investor funds for personal use "including gambling at an online casino and purchasing speculative cryptocurrencies," that a June 2023 audit uncovered the misappropriation, and that when the FAR token launched in May 2024 "it was effectively worthless and soon ceased trading." Tarsha, 34, of Miami, Florida, was arrested on June 6, 2026; the case is assigned to U.S. District Judge Lewis A. Kaplan; each charge carries a maximum sentence of 20 years in prison. The Office states that "the charges contained in the Indictment are merely accusations, and the defendant is presumed innocent unless and until proven guilty."
The Securities and Exchange Commission published notice (Release No. 34-106020, File No. SR-CBOE-2026-064, dated July 31, 2026) that Cboe Exchange, Inc. filed on July 20, 2026 a proposed rule change amending standard transaction fees for Cboe Bitcoin U.S. ETF Index options (CBTX) and Cboe Mini Bitcoin U.S. ETF Index options (MBTX). For CBTX the filing adopts a $1.50 per contract fee on Non-Customer orders contra to non-customers that remove liquidity electronically and a $0.75 per contract rebate for Market-Maker orders contra to non-customers that add liquidity electronically; the corresponding MBTX rates are $1.00 and $0.50. The Exchange states the structure addresses what it describes as opportunistic non-customer aggression against passive Market-Maker quotes. The notice states the rule change has become effective pursuant to Section 19(b)(3)(A) of the Securities Exchange Act of 1934 and Rule 19b-4(f) thereunder, that the Commission may summarily suspend the rule change within 60 days of filing, and that comments are due on or before August 26, 2026.
The Securities and Exchange Commission published a correction (Release No. 34-105549A, File No. SR-Phlx-2025-50) stating that its May 28, 2026 Federal Register document granting accelerated approval of the Nasdaq PHLX LLC proposed rule change to list and trade Nasdaq Bitcoin Index Options contained an error. The correction adds to FR Doc. 2026-10537 at 91 FR 31769, page 31794, following the ordering paragraph, a paragraph stating: "For the Commission, by the Division of Trading and Markets, pursuant to delegated authority," citing 17 CFR 200.30-3(a)(12). The Federal Register record for File No. SR-Phlx-2025-50 now lists six documents dated from September 29, 2025 to this correction, including an August 3, 2026 order granting a petition for review of the approval.
The U.S. Department of the Treasury published on August 4, 2026 the joint statement of the 13th meeting of the UK-U.S. Financial Regulatory Working Group, hosted by HM Treasury in London on July 8, 2026. The statement records that U.S. Treasury and HM Treasury officials were joined by representatives of the Bank of England, the Financial Conduct Authority, the Federal Reserve Board, the Commodity Futures Trading Commission, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency and the Securities and Exchange Commission. It states that authorities provided updates on their respective regulatory regimes for digital assets, including stablecoins, and on their work to modernize payment services more broadly, and that U.S. authorities provided an update on implementing the GENIUS Act for stablecoins and on digital asset market structure. The discussion also covered the G20 Cross-border Payments Roadmap and priorities for tokenisation. The statement records that the U.S.-UK Transatlantic Taskforce for Markets of the Future announced initial recommendations on July 14 along with a U.S.-UK joint statement on stablecoins, and that the Working Group plans to reconvene in early 2027.
SEC Litigation Release No. 26599, dated August 4, 2026, states that on August 4, 2026 the SEC filed a consent and proposed final judgment in the U.S. District Court for the District of New Jersey as to John A. DeSalvo, a former New Jersey corrections officer, in an action alleging "crypto offering and investment fraud schemes." The release states that the Commission's August 2023 complaint alleges DeSalvo "fraudulently raised at least $623,888 from approximately 222 investors in connection with the so-called Blazar Token," and that he "claimed that the Blazar Token would replace traditional state pension systems and falsely told investors that Blazar Token was registered with the SEC; that he had arranged for Blazar Token to be purchased by automatic payroll deduction; and that investors were guaranteed to receive extraordinary returns." The complaint further alleges that in an earlier scheme beginning in late January 2021 he raised approximately $95,000 from 17 investors for a program he claimed would invest in stocks, options and crypto assets. The release states DeSalvo consented to entry of a final judgment, subject to court approval, permanently enjoining him from violating Sections 5(a), 5(c) and 17(a) of the Securities Act of 1933 and Section 10(b) of the Exchange Act of 1934 and Rule 10b-5, imposing a conduct-based injunction permanently barring him from participating in the issuance, offer or sale of any security, and ordering him liable for disgorgement of $681,105, "which shall be deemed satisfied by the order of restitution entered against him in a parallel criminal matter."
SEC Litigation Release No. 26598, dated August 3, 2026, states that on July 28, 2026 the SEC filed a proposed final judgment in the U.S. District Court for the District of Massachusetts as to its claims against Gotbit Consulting LLC a/k/a Gotbit Hedge Fund, and that if approved the judgment "would settle the Commission's previously-filed fraud and market manipulation claims against Gotbit." The Commission previously filed a notice of voluntary dismissal as to its pending claims against Fedor Kedrov. The release states that the SEC's October 2024 complaint "alleged that Gotbit engaged in a scheme to manipulate the market for a crypto asset that was offered and sold subject to an investment contract, including by generating artificial trading volume for the crypto asset," by "self-trading (commonly referred to as 'wash trading') or by engaging in other trading practices that likewise served no economic purpose." Gotbit consented to entry of a final judgment, subject to court approval, permanently enjoining it from violating Section 17(a)(1) and (3) of the Securities Act of 1933 and Sections 9(a)(2) and 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5(a) and (c), and from participating directly or indirectly in any issuance, purchase, offer or sale of any securities. The release also states that in a parallel criminal proceeding Gotbit pleaded guilty to wire fraud and conspiracy to commit market manipulation and wire fraud, and was sentenced in June 2025 to five years' probation.
In Release No. 34-106005 (File No. SR-Phlx-2025-50), dated July 29, 2026 and published in the Federal Register on August 3, 2026 at 91 FR 48968, the Securities and Exchange Commission granted CME Group Inc.'s petition for review of the Division of Trading and Markets' accelerated approval of Nasdaq PHLX LLC's proposed rule change to list and trade Nasdaq Bitcoin Index options. The Division approved the filing, as modified by Amendment No. 1, on an accelerated basis on May 22, 2026 under delegated authority (Release No. 34-105549, 91 FR 31769). CME filed a notice of intention to petition for review on June 11, 2026 and a petition for review on June 18, 2026. The order states that under Rule 431(e) of the Commission's Rules of Practice, a notice of intention to petition for review results in an automatic stay of the action taken by delegated authority until the Commission orders otherwise. The Commission ordered that CME's petition is granted, that any party or other person may file a statement in support of or in opposition to the delegated action on or before August 24, 2026, and that the Approval Order shall remain stayed pending further order of the Commission.
On August 3, 2026 the Treasury Department's Financial Crimes Enforcement Network assessed a $125,000,000 civil money penalty against UBS Financial Services Inc. (UBSFS) for willful violations of the Bank Secrecy Act. FinCEN states this is the largest penalty ever imposed against a broker-dealer for BSA violations to date, and that it is FinCEN's second enforcement action against UBSFS after a December 2018 consent order carrying a $14.5 million penalty that had also found UBSFS failed to adequately monitor foreign currency wires. FinCEN states that despite assurances it would remediate, UBSFS did not, and subsequently failed to appropriately monitor over 50,000 foreign currency wires with an aggregate value of more than $10 billion, and did not disclose these failings to FinCEN, which learned of them through an investigation opened after a regulatory examination. FinCEN also found failures to perform appropriate customer due diligence for high-risk customers with ties to Russia and Latin America, resulting in a failure to timely report hundreds of suspicious transactions. As part of the resolution UBSFS admits it willfully violated the BSA, including failing to implement and maintain an AML program and to file suspicious activity reports. The consent order requires UBSFS to work with a third party to complete a lookback for undetected suspicious transactions and to undergo an independent review of its AML program covering priority illicit finance risks that FinCEN identifies as the U.S. Southwest border, cartels and possible narcotics trafficking, Iran, Russia and Venezuela. FinCEN states it will waive up to $15 million for expenses incurred on that undertaking upon satisfactory completion. FinCEN states that the Commodity Futures Trading Commission, the Securities and Exchange Commission and FINRA cooperated on the matter.
On August 3, 2026 the Securities and Exchange Commission instituted and settled administrative and cease-and-desist proceedings against UBS Financial Services Inc. (UBSFS) in Release No. 34-106026 and Advisers Act Release No. IA-6985, File No. 3-22665. The Commission found that UBSFS willfully violated Section 17(a) of the Securities Exchange Act of 1934 and Rule 17a-8 thereunder by failing to timely file certain suspicious activity reports. The order finds that from January 2019 through June 2023 UBSFS failed to adequately monitor customers' foreign currency wire transactions as required by its own anti-money laundering policies, because of flaws first in its legacy monitoring system and then in the automated system that replaced it in February 2021, and that UBSFS also failed to appropriately maintain customer risk profiles including red flags tied to high-risk jurisdictions. The order states that from January 2019 through January 2021 UBSFS failed to adequately monitor approximately 52,000 foreign currency wire transactions with a notional value of approximately $7.6 billion, and that from February 2021 through June 2023 it failed to monitor or adequately monitor more than 8,000 of approximately 190,000 such transactions, being 4 percent by count and carrying a notional value of more than $2.7 billion, being 20 percent by value. Lookback reports filed beginning in October 2023 were not timely under the SAR rule and concerned thousands of suspicious transactions totalling approximately $250 million. The Commission ordered UBSFS to cease and desist, censured it, and ordered payment of a $20 million civil money penalty within 30 days. UBSFS consented without admitting the findings, except as to admissions contained in its consent to the FinCEN assessment.
On August 3, 2026 the Commodity Futures Trading Commission announced, as Release 9277-26, a settled order against UBS Financial Services Inc. (UBS FSI) in CFTC Docket No. 26-04, dated July 31, 2026. The Commission found that from January 2019 through June 2023 UBS FSI, a registered futures commission merchant, failed to adequately configure and administer its anti-money laundering transaction monitoring systems for wire transfers denominated in foreign currencies and effectuated through retail customer accounts, and thereby failed to diligently supervise its business in violation of Commission Regulation 166.3. The order states that UBS FSI estimates more than 28,000 such wires with a total U.S. dollar value of at least $8.9 billion were insufficiently monitored or omitted from monitoring. It records that a manually generated report used until February 2021 did not capture scenarios such as transfers to or from high-risk jurisdictions, round dollar transactions and dormant account activity; that a coding error discovered in October 2020 had suppressed more than 400 alerts; and that after the automated system went live in March 2021 the firm configured it to draw on an intra-day feed rather than a complete end-of-day feed and did not remediate that and a transaction-labelling issue until October 2022. The order states that a violation of Regulation 166.3 is an independent violation for which no underlying violation is necessary. UBS FSI submitted an offer of settlement, admits the facts set out in the order and acknowledges that its conduct violated Regulation 166.3. The order requires UBS FSI to cease and desist and to pay an $8,000,000 civil monetary penalty within thirty days, and imposes cooperation undertakings. The CFTC release states that FinCEN, the SEC and FINRA announced related actions against UBS FSI the same day.
As reported by Al Jazeera on July 31, 2026 carrying Associated Press and Reuters copy, the U.S. Commodity Futures Trading Commission filed an emergency motion in federal court late on Thursday night to stop New York from subjecting the prediction market Kalshi to state gambling laws, describing the state's action as overreach that would irreparably harm the agency and the markets it regulates. The same report states that the CFTC has claimed exclusive jurisdiction to regulate transactions offered in prediction markets and has challenged regulatory activity in at least nine states, including New York, which it sued in April, and that on Wednesday the federal appeals court in Manhattan rejected Kalshi's request to avoid possible enforcement activity while it appeals U.S. District Judge Analisa Torres's July 8 refusal to issue an injunction against the state. The report states that Kalshi sought to move New York's action to Manhattan federal court eight hours after the attorney general filed it, and quotes Kalshi as saying that New York seeks to place itself in the position of a nationwide derivatives regulator. PYMNTS reported the same day that the CFTC has sued to stop New York's attempt to halt Kalshi's operations, and PYMNTS and NY1 both quote CFTC Chairman Michael S. Selig as stating that New York seeks to force an unprecedented sudden shutdown of prediction markets nationwide and that the CFTC has already sued to stop this and will continue to defend its jurisdiction. No official CFTC press release or public statement on this filing was located on cftc.gov, and the court filing itself was not retrieved.
On July 31, 2026, New York Governor Kathy Hochul and Attorney General Letitia James announced that New York has sued KalshiEX, LLC for running an illegal gambling operation in New York through its prediction market platform. The Office of the Attorney General states that its investigation found Kalshi's prediction market is an illegal, unlicensed gambling operation, and that the lawsuit alleges Kalshi's prediction markets meet the legal definition of gambling because the outcomes of the events users bet on are uncertain and outside the control of the bettor or hinge on a game of chance. The release states Kalshi has failed to obtain a license from the New York State Gaming Commission, and that Kalshi's markets are available to users between the ages of 18 and 20 even though New York law requires a person to be at least 21 to participate in mobile sports betting. The Attorney General is asking the court to order Kalshi to stop operating as an unlicensed gambling business, forfeit all illegal gains, distribute restitution to consumers who were harmed, and pay fines equal to three times the gains the company made. The release notes prior related New York actions, including an October 2025 New York State Gaming Commission cease-and-desist letter to Kalshi and April 2026 suits against Coinbase and Gemini over alleged illegal gambling platforms. The matter is handled by the OAG Investor Protection Bureau.
On July 31, 2026 the Commodity Futures Trading Commission entered a settled Order Instituting Proceedings under Section 6(c) and (d) of the Commodity Exchange Act against George Anthony Devolder Santos, CFTC Docket No. 26-05, announced as CFTC Release 9276-26. The Commission found that between February 12, 2026 and February 25, 2026 Santos violated Section 6(c)(1) of the Act, 7 U.S.C. 9(1), and Regulation 180.1(a)(1), (3). The order states that KalshiEX LLC, a designated contract market, offered an event contract titled "Who will attend the State of the Union?" and a market on whether Santos would attend the 2026 State of the Union, and that Santos traded both Yes and No positions in that market while making social media statements about his attendance, exiting the No position on February 25 for a profit of $14,390.57. The order states that event contracts are a type of swap as defined by the Act, and that Santos violated Section 6(c)(1) and Regulation 180.1(a) when he traded in an event contract where he could influence the outcome of the underlying event and engaged in activity designed to affect the price of the swap. Santos consented to the order without admitting the findings or conclusions. The order requires him to cease and desist, to disgorge $17,569.98, to pay a $17,500 civil monetary penalty within thirty days, and prohibits him from trading on or subject to the rules of any registered entity for three years. KalshiEX LLC is identified in the order as the venue that listed the contract and is not a respondent.
On July 30, 2026, the U.S. Commodity Futures Trading Commission published a Notice of Proposed Rulemaking, release 9274-26, seeking public comment on amendments to Part 37, Part 38, and Part 39 of the CFTC's regulations, as well as Commission regulations 1.52 and 1.55. The release states that the Commission has continued to observe growth in the number of affiliations between CFTC-regulated entities, including derivatives clearing organizations, designated contract markets, swap execution facilities, futures commission merchants, and other market participants such as market makers, and that in light of these developments the Commission proposes new rules and amendments to its existing regulations to address issues that may arise in connection with such firms, including with respect to perceived and potential conflicts of interest. Chairman Michael S. Selig is quoted as saying that by setting forth principles-based regulations for vertically integrated market structures, the CFTC is taking a significant step in its continued efforts to support responsible innovation in U.S. derivatives markets, and that the proposal would institute purpose-fit rules of the road that bolster market integrity without stifling novel market structures or imposing excessive compliance costs on registrants. The release states comments will be accepted for 60 days following publication in the Federal Register. As of August 2, 2026 the notice had not yet appeared in the Federal Register.
In three orders published in the Federal Register between July 30 and August 3, 2026, the Securities and Exchange Commission approved amendments to the generic listing standards for Commodity-Based Trust Shares at Nasdaq, NYSE Arca and Cboe BZX. In Release No. 34-105995 (July 27, 2026; File No. SR-NASDAQ-2026-032), the Commission approved new Nasdaq Rule 5711(d)(iv)(C), which provides that up to 15 percent of a Commodity-Based Trust Share's net asset value in the aggregate may consist of digital commodities that do not meet the existing criteria for commodities, or securities that do not meet the existing criteria for securities, with any derivative calculated on its gross notional value. The rule defines 'digital commodity' to mean a commodity that is a digital asset and is intrinsically linked to and derives its value from the programmatic operation of a functional crypto system, as well as supply and demand dynamics, rather than from the expectation of profits from the essential managerial efforts of others. The exchanges state that this definition is informed by the joint interpretive guidance issued by the Commission and the Commodity Futures Trading Commission published at 91 FR 13714 on March 23, 2026, and that each exchange will submit a rule filing to conform the definition if legislation is enacted defining the term. The same orders remove the requirement that Commodity-Based Trust Shares be designed to reflect the performance of one or more reference assets or an index of reference assets, which permits actively managed products to be listed under the generic standards, and add a trading-halt requirement where portfolio information is not disseminated to all market participants at the same time, together with a requirement that persons with access to non-public portfolio information be subject to procedures designed to prevent its use and dissemination. At least 85 percent of net asset value must remain in assets already permitted under the standards, and the Cboe BZX order states that the sponsor must monitor compliance with the 85 percent threshold daily and promptly notify the exchange of any breach. The companion orders are Release No. 34-106001 (July 28, 2026; File No. SR-NYSEARCA-2026-42), amending NYSE Arca Rule 8.201-E (Generic), and Release No. 34-106011 (July 29, 2026; File No. SR-CboeBZX-2026-061), amending Cboe BZX Rule 14.11(e)(4).
On July 29, 2026, the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) designated two Iran-based firms — Persian Gulf Marine Insurance Company and HormuzSafe Marine Services Authority — as part of what Treasury described as an Islamic Revolutionary Guard Corps (IRGC)-backed extortion scheme requiring commercial vessels to purchase mandatory maritime 'insurance' to transit the Strait of Hormuz. Treasury's press release stated that the regime 'brokers IRGC-approved policies designed to extract revenue under the guise of maritime services, including payments in digital assets to evade sanctions.' The same action added eight shipping and ship-management companies registered in Hong Kong and the Marshall Islands, and eight tankers, to OFAC's Specially Designated Nationals (SDN) List under the Iran sanctions authority Executive Order 13902. Both designated Iranian firms are identified in the SDN listing as 'Organization Type: Financial and Insurance Activities' and are marked subject to secondary sanctions.
On July 27, 2026, Judge Katherine Menendez of the U.S. District Court for the District of Minnesota granted KalshiEX LLC, Polymarket US, and the U.S. Commodity Futures Trading Commission a preliminary injunction against Minnesota's law criminalizing the operation of prediction markets, ruling that the plaintiffs are likely to succeed on their claim that the state law is expressly preempted by the federal Commodity Exchange Act as applied to event contracts that qualify as 'swaps.' The court wrote that plaintiffs 'have met their burden to show they are likely to succeed on the merits of their express-preemption claims, at least as to the application of Minnesota's law to many of the trades listed on Kalshi's and Polymarket US's platforms,' while noting the state ban might still reach some contracts (such as bets on entertainment outcomes) that do not qualify as swaps. The preliminary injunction remains in effect until a final decision on the merits is reached. Minnesota's law, signed May 18, 2026, was the first in the country to classify prediction-market operation as a criminal offense. As reported by CoinDesk and corroborated by the Star Tribune, NBC News, The Hill, Courthouse News Service, and other outlets.
The OCC published a Paperwork Reduction Act notice (FR Doc 2026-15088; 91 FR 47032; public inspection July 24, 2026; official Federal Register publication July 27, 2026) proposing a new information collection to implement GENIUS Act licensing requirements for Permitted Payment Stablecoin Issuers (PPSIs) and registration of foreign payment stablecoin issuers. The proposed application package includes a business plan, reserve and redemption policies, a risk management program, AML/CFT compliance history, backgrounds of directors and officers, and an Interagency Biographical and Financial Report. The OCC estimates 50 respondents and 6,250 annual burden hours. The public comment period closes September 25, 2026.
entities seeking PPSI licensing or foreign payment stablecoin issuer registration under the GENIUS Act; payment stablecoin issuers with US market access
KalshiEX LLC and the Nevada Gaming Control Board filed a joint stipulation in Carson City District Court on July 24, 2026, cancelling a pending contempt hearing. Under the agreement, Kalshi must implement GeoComply, a third-party geolocation service, to block Nevada users from accessing sports, election, and entertainment event contracts by August 12, 2026; failure to meet the deadline triggers a $120,000 per-day fine. NGCB Chair Mike Dreitzer stated: 'This agreement will ensure that Kalshi fully complies with Nevada law moving forward, or it will face stiff penalties.'
On July 22, 2026, Pennsylvania Representative Tarik Khan and more than two dozen bipartisan co-sponsors introduced House Bill 2711, which would create a regulatory framework for prediction markets in Pennsylvania. The bill establishes operational standards and consumer protections including a 21-year minimum age, prohibitions on death markets and contracts involving minors, and fraud and manipulation safeguards. Enforcement authority would vest in the Pennsylvania Attorney General and local district attorneys rather than the Pennsylvania Gaming Control Board, with civil penalties up to $1 million per day for post-injunction violations. The bill does not prohibit most sports prediction markets and does not impose a revenue tax. HB 2711 was referred to the House Consumer Protection, Technology and Utilities Committee.
On July 24, 2026, the U.S. Commodity Futures Trading Commission's Division of Market Oversight (DMO) issued an advisory reminding designated contract markets (DCMs) about the proper procedures for submitting self-certifications of an event contract series. The advisory addresses concerns about the practice of submitting broad, template-style certifications that combine many potential event contract variations into a single certification. According to the advisory, this approach limits DMO's ability to determine whether a DCM has provided all the information, explanation, and analysis required by Commission Regulation Section 40.2, and whether it has adequately evaluated the settlement methodology, data sources, and core-principles compliance of any contract it intends to list. The guidance reiterates that broad, template-style certifications should not be submitted, and explains when closely related event contracts may be certified as a class or submitted for approval under Commission Regulations Sections 40.2(d) or 40.3. The advisory was issued as CFTC Staff Letter No. 26-22.
prediction-market operators and other designated contract markets that list event contracts, and their compliance/listing teams — self-certification submissions must provide full per-contract Reg 40.2 analysis rather than broad template-style filings
On July 24, 2026, the U.S. Commodity Futures Trading Commission's Division of Market Oversight announced it had issued a no-action letter to Kraken Derivatives Exchange Inc., formerly Small Exchange Inc., a designated contract market, addressing certain procedures related to dormancy. The Division stated the no-action position is time-limited and subject to the terms and conditions in the no-action letter. The position was issued in response to a request from Kraken Derivatives Exchange Inc. to extend the no-action position previously granted to the exchange in CFTC Letter No. 25-46. The no-action position was issued as CFTC Staff Letter No. 26-21.
On July 24, 2026, Wise plc announced via London Stock Exchange regulatory news service (RNS) that the U.S. Office of the Comptroller of the Currency (OCC) communicated its decision to deny Wise's application for a national trust bank charter. The OCC cited significant supervisory and compliance concerns, including management's demonstrated persistent inability to manage anti-money laundering and terrorism financing risks, directors and management lacking sufficient AML/CFT experience, proposed activities presenting high AML/CFT risks, and organizers failing to demonstrate sufficient experience with banking regulations related to fiduciary activities. The OCC letter references historical issues with the original application and a multi-state consent order Wise entered into in July 2025. Wise shares fell approximately 10-11% on Nasdaq following the announcement. Wise stated it plans to submit a new application under a GENIUS Act framework. Wise's existing money transmission licenses (MTLs) across 48 US states and 4 territories are unaffected; the denial pertains solely to the proposed national trust charter. The Bank Policy Institute and banking trade groups had submitted opposition letters. The OCC's denial letter has not been separately published by the OCC on occ.gov as of this date.
fintech operators seeking or considering OCC national bank or trust charters, payments and MSB operators assessing US federal licensing pathways, compliance teams tracking OCC AML-as-licensing-condition precedents in the post-GENIUS Act charter wave
On July 24, 2026, the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) designated four individuals and nine entities that form key components of Babak Zanjani's Iranian sanctions evasion network. The action targets support infrastructure for the previously-designated digital asset exchanges Zedcex Exchange Limited and Zedxion Exchange Limited (both designated January 30, 2026). OFAC stated that multiple Zedcex and Zedxion-attributed addresses have processed funds on behalf of wallets attributed to the Islamic Revolutionary Guard Corps (IRGC). Among the newly designated entities is Istanbul-based Zedpay Finansal Sistem Ve Hizmetleri Anonim Sirketi (Zedpay), a financial technology company that provided digital wallet and global transfer services and was directly integrated into the Zedxion trading platform, giving Zedxion fiat settlement and cross-border payment capabilities. Dubai-based Zedx DMCC acted on Zedcex's behalf with regard to Zedcex's exchange wallets. Dubai-based BZ Diamond FZCO, a diamond dealer managed by Zanjani's sister Bahareh Morteza Zanjani, conducted transactions with Zedxion and Zedcex wallets and promoted Zedxion's NFT marketplace. Six Iran-based entities comprising the Dot One conglomerate are also designated, including DotOne Gold Company, which operates Tala Token (an allegedly gold-backed digital asset token); significant quantities of Tala Token passed through Zedcex infrastructure in early 2025. Designated individuals: Mehdi Rezazadeh (Zedpay chairperson, Istanbul), Sukhrob Oimakhmadov (Zedx DMCC manager, Dubai), Bahareh Morteza Zanjani (BZ Diamond FZCO manager, Dubai), and Solmaz Bani (registered websites for Zanjani companies). Designations issued pursuant to Executive Order 13902.
crypto exchanges, VASPs, fintech payment processors, banks with Turkish or UAE-based fintech integration partners — immediate SDN screening required for 13 newly-designated entities and individuals
Senate Majority Leader John Thune told reporters on July 23, 2026 that the Digital Asset Market CLARITY Act is unlikely to receive a floor vote before the August 7 congressional recess, saying: 'I would like to at least get Clarity started. We'll see where the votes are.' Senate leadership plans to prioritize the Russia sanctions bill (Sen. Lindsey Graham) on the floor the following week, leaving insufficient floor time for the 60-vote cloture process. White House crypto adviser Bo Hines indicated the first week of August (Aug 1-7) may still be possible. The bill faces bipartisan opposition on the ethics provision sunset date and stablecoin yield provisions. Corroborated by Yahoo Finance, CryptoTimes, and The Defiant (all July 23, 2026). No official Senate floor schedule was published on senate.gov as of this report.
Crypto operators, exchanges, token issuers, stablecoin issuers, and DeFi platforms planning for the federal market-structure framework — pre-recess passage now unlikely; first week of August is the remaining window before August 7 recess
On July 23, 2026, the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) designated a senior Egyptian Muslim Brotherhood (EMB) official, along with three individuals and three entities that provided material support to Hamas. Among the designated entities is Turkiye-based El-Kahira for General Trading, which OFAC states provided underground banking services, 'servicing both fiat and cryptocurrencies,' to Hamas and to known Sweden-based organized crime groups including the Foxtrot Network. El-Kahira transferred hundreds of thousands of dollars for Hamas. El-Kahira's owner Khuldun Khamis Zakaria Alden and shareholders Zaid Issam Ahmed Al-Jebouri and Abdullah Issam Ahmad Al-Jebouri are also designated. The two other designated entities are Tujah Bulah Global (Indonesia, also known as Seven Spikes Global, a Hamas fundraising charity) and Madad Palestine Charitable Society (Gaza, a Hamas front charity whose funds were diverted to Hamas's military wing). The designated EMB official is Mahmoud al-Abyari, UK-based Secretary General of the Muslim Brotherhood General Secretariat. Designations issued pursuant to Executive Order 13224, as amended. This action follows prior Hamas/MB OFAC actions on January 21, 2026 and March 12, 2026.
crypto exchanges, VASPs, and payment processors — El-Kahira and associated individuals now on SDN list; entity provided unlicensed crypto and fiat exchange services to designated terrorist organization
The SEC and History Associates Inc. (acting on behalf of Coinbase) filed a joint status report on July 22, 2026 in History Associates Inc. v. SEC (D.D.C. No. 1:24-cv-01766), settling a FOIA lawsuit over SEC records on Ethereum and Gensler-era communications. Settlement terms: SEC pays $150,000 in legal fees; SEC produces all remaining responsive documents; case dismissed upon completion. The lawsuit (filed June 2024) compelled production of thousands of SEC records. The production confirmed that SEC Chair Gensler's text messages were deleted for October 2022 through September 2023 and that 21 senior SEC officials' phones were wiped. Two previously withheld documents were released in settlement. Coinbase CEO Brian Armstrong called it 'a huge win for crypto.' Reported by CoinDesk, CoinTelegraph, CryptoSlate, and FinanceFeeds (all July 23, 2026); underlying joint status report filed in PACER.
Crypto platforms and exchanges subject to prior SEC enforcement or investigation 2022-2023; FOIA practitioners monitoring SEC records and institutional accountability
As reported by CoinDesk on July 22, 2026 and corroborated by CNBC, Roll Call, American Banker and Disruption Banking the same day, lawmakers circulated a would-be-final draft of the Digital Asset Market CLARITY Act as the U.S. Senate prepared for floor action before its August recess. The draft includes a conflict-of-interest section barring the President, Vice President, members of Congress, federal judges and their spouses from issuing or sponsoring digital assets for pay while in office; per CNBC, the Department of Justice would enforce the ban with fines of up to $250,000 per day and disgorgement of profits plus a penalty of up to 10% of amounts received. The ethics provision is set to sunset January 20, 2029 and would require regulators to implement it within one year of enactment. Per CoinDesk, the draft retains the Blockchain Regulatory Certainty Act (non-custodial developers not treated as money transmitters) and adds new language on federal preemption, provisional registration and commodity pool operators. Senate Majority Leader John Thune's office said he intends to move to floor action in the coming days; the draft text was posted at Punchbowl News but had not been shared with Democratic lawmakers, several of whom criticized the DOJ-enforced ethics mechanism. The bill needs 60 Senate votes.
On July 22, 2026, SEC Commissioner Hester M. Peirce issued a statement titled 'Headstands and Summervaults: A Statement on Crypto Vaults and Lending Strategies,' stating that crypto vaults and onchain lending strategies may fall within the federal securities laws depending on how they are structured and managed. Peirce wrote that moving activities within the scope of the securities laws onchain 'as a general matter, does not take those activities outside the scope,' and that 'tokenized securities are still securities. That principle holds for vaults.' She said parties who manage vaults (for example, by selecting yield-generating activities, re-allocating assets, or selecting the parties that make those decisions) or lending strategies (for example, by setting interest rates, deciding which assets to accommodate, and setting loan-to-value limits and liquidation thresholds) may want to analyze whether their activities implicate the securities laws; that a vault could be a common enterprise or fall into investment company territory and involvement may implicate investment adviser requirements; and that onchain loans could bear the hallmarks of notes that are securities. She stated the analysis turns on the specific facts and circumstances and invited market participants to engage with the SEC. The statement is an individual Commissioner statement, not a Commission rule or enforcement action.
On July 22, 2026, the Financial Crimes Enforcement Network (FinCEN) announced it is extending the comment period for the notice of proposed rulemaking (NPRM) it published in June 2026 to amend the existing definition of 'Huione Group' to include H-Pay Service PLC and any successor entity. FinCEN stated the extension is due to a technological issue that prevented the public from electronically filing comments for several days, and that written comments on the NPRM now must be submitted on or before August 2, 2026.
As reported by CoinDesk on July 21, 2026, a White House official speaking on condition of anonymity said President Trump "has agreed to the most comprehensive and wide-ranging ethics provision in history" for the Digital Asset Market CLARITY Act, that no details of the agreed restrictions have been released, and that Democratic lawmakers had not been briefed on the concession. As reported by Disruption Banking the same day, the agreement was reached on the evening of July 20 and the language went to a group of Senate Republicans that afternoon; the outlet notes the bill needs 60 votes while Republicans hold 53 seats, and that the Senate breaks for recess around August 8. The text of the ethics provision has not been published.
The Subcommittee on Commodity Markets, Digital Assets, and Rural Development held a hearing titled 'Examining Prediction Markets: Customer Protections and Market Integrity in Sports Event Markets' on July 21, 2026, chaired by Rep. Dusty Johnson (R-SD). Five witnesses testified: Robert Schwartz (partner, Morgan Lewis; former CFTC general counsel), Carl Kennedy (derivatives attorney, Katten Muchin Rosenman), Chris Cylke (SVP government relations, American Gaming Association), David Bean (chairman, Indian Gaming Association), and Asaf Meir (co-founder and CEO, Solidus Labs). Schwartz and Kennedy defended CFTC jurisdiction under the Commodity Exchange Act; Cylke and Bean argued sports event contracts are gambling subject to state police powers and the Indian Gaming Regulatory Act, with Bean urging advancement of H.R. 7840 (Event Contract Enforcement Act). Cylke cited Kalshi's sports-related trading volume exceeding $111 billion through H1 2026 and noted that 45% of all online sports betting advertising now comes from prediction market operators. Rep. Kristen McDonald Rivet (D-MI) pressed witnesses on the CFTC's order directing Kalshi to defy a Michigan state court order; Schwartz described the order as extraordinary, stating: 'It certainly was a flex.' Rep. Angie Craig (D-MN) questioned whether a single-commissioner CFTC had the capability to police prediction markets given proposed budget cuts. Chairman Johnson closed by stating: 'Courts are acting in this space. The commission is acting in this space. I do not think that this committee, Congress, should be silent. We have an obligation to drive toward finding out what is the common ground.' Testimony documents are posted at agriculture.house.gov.
The Subcommittee on National Security, Illicit Finance, and International Financial Institutions held a hearing entitled "Oversight of the Financial Crimes Enforcement Network" on Tuesday, July 21, 2026 at 10:00 a.m. in 2128 Rayburn House Office Building. The committee event page lists one witness: Andrea Gacki, Director of the Financial Crimes Enforcement Network (FinCEN). The page links a Committee Memorandum and Gacki's written statement on docs.house.gov, along with a livestream recording of the hearing.
King County Superior Court (Washington state) granted a preliminary injunction against Kalshi on July 20, 2026, finding that Kalshi's prediction market contracts likely violate both the Washington Gambling Act and the Consumer Protection Act. The court found that Kalshi's event contracts — covering sports, elections, natural disasters, and other contingent events — constitute gambling under Washington law, which defines gambling as staking or risking something of value upon the outcome of a contest of chance or a future contingent event, and prohibits internet gambling as amended in 2006. The court also ruled that Kalshi's marketing constitutes unfair and deceptive acts or practices under the Consumer Protection Act, citing a Kalshi advertisement in which a user texts about finding 'a way to bet on the NFL even though we live in Washington.' Washington AG Nick Brown filed the underlying complaint on March 27, 2026. The court will issue a final injunction order setting full remedies on August 5, 2026. Washington is reported as the 4th state to obtain a preliminary injunction against Kalshi's sports event contracts, with state regulators and courts prevailing in 19 of 23 such decisions nationally.
The FTC announced on July 20, 2026 that Alexander Mashinsky, former CEO of cryptocurrency platform Celsius Network Inc., and business partners Shlomi Daniel Leon and Hanoch "Nuke" Goldstein will pay a total of $16.5 million to resolve FTC charges that they deceived users by falsely promising that deposits made to their cryptocurrency platform would be safe and always available. Mashinsky pays $10 million, Leon $4.1 million and Goldstein $2.4 million. Mashinsky and Leon also agreed to a ban on marketing or selling products or services that can be used to deposit, exchange, invest or withdraw assets; Goldstein agreed to a ban covering retail products or services used to buy, sell, deposit, withdraw, distribute or trade cryptocurrency. The orders, filed in the U.S. District Court for the Southern District of New York, also prohibit misrepresentations about any product or service and violations of the Gramm-Leach-Bliley Act. The Commission vote on the Mashinsky order was 3-0; the votes on the Leon and Goldstein orders were 2-0.
On July 20, 2026 (filed on public inspection July 17), the FDIC published a Paperwork Reduction Act notice (FR Doc. 2026-14589, 91 FR 45274) requesting 60-day public comment on proposed weekly and quarterly reporting forms for FDIC-supervised Permitted Payment Stablecoin Issuers (PPSIs). The notice is associated with the FDIC's GENIUS Act PPSI NPRM (April 10, 2026, 91 FR 18534). Weekly Form PS-01 (for PPSIs with $1 billion or more in total outstanding issuance value or $100 million or more in average daily transaction volume) includes eight schedules covering top holders, top exchanges, trading volume, top counterparties, capital, issuance and redemption, and reserve assets disaggregated by type (cash and deposits, U.S. Treasuries by CUSIP, reverse repurchase agreements, money market mutual funds, and other instruments). Weekly Form PS-01a (smaller PPSIs) has three schedules. Quarterly Form PS-02 covers income statement, balance sheet, off-balance sheet items, capital and operational backstop, and memoranda including blockchain activity, redemption metrics, and custody activities. The FDIC estimates approximately 30 FDIC-supervised institutions would perform PPSI activities; ongoing weekly reporting burden estimated at 2,080 hours per year and quarterly at 800 hours. The publication confirms the FDIC GENIUS Act implementing final rule was not published as of the July 18, 2026 statutory one-year deadline. Comment period closes September 18, 2026.
Federal Reserve Chairman Kevin Warsh testified before the House Committee on Financial Services on July 14, 2026, as part of the Semiannual Monetary Policy Report (2128 Rayburn House Office Building, 10:00 AM). The official prepared statement focused on price stability, monetary policy, and internal Fed task forces. During the Q&A, Warsh made three statements directly relevant to crypto, stablecoin, and fintech operators: (1) No Federal Reserve bailout for crypto or stablecoins: Pressed by Rep. Brad Sherman on whether the Fed would provide the kind of support it gave money market funds in 2008, Warsh stated 'We do not want to be in the bailout business, full stop.' He added that the Fed would 'do everything we can to mitigate... extraordinary risks' but would not bail out crypto. He did not fully rule out marginal systemic-spillover mitigation. (2) GENIUS Act rulemaking urgency: Warsh told lawmakers the Fed is 'racing' to finalize its portion of the GENIUS Act stablecoin implementing rules ahead of the July 18, 2026 one-year statutory deadline. The deadline has since been confirmed missed (the Federal Register contains no in-scope publication; July 18 is a Saturday; earliest possible publication is Monday July 20). (3) Nonbank fintech payment-system access: Rep. Sherman separately pressed on Kraken's pending bank application and nonbank crypto firms seeking direct access to the payment system; Warsh invoked systemic-risk considerations without making a specific commitment. Background: Warsh is the most crypto-sympathetic Fed Chair on record, having previously disclosed venture stakes in Bitcoin payments, a crypto index manager, Bitwise, and a stablecoin venture â all divested under Fed ethics rules prior to confirmation in May 2026. A 2026 New York Fed staff report cited in contemporaneous coverage found stablecoin activity can transmit liquidity stress to banks and complicate monetary policy. This is Warsh's first congressional testimony since his confirmation. Secondary coverage: Law360, July 14, 2026 ('Fed Racing To Hit Genius Act Rules Deadline, Warsh Says'); CCN via Yahoo Finance, July 15, 2026 ('Fed Chair Kevin Warsh Says Crypto and Stablecoins Are On Their Own in a Crisis').
As reported by Disruption Banking on July 17, 2026, Senate Republicans planned to release the updated text of the Digital Asset Market CLARITY Act that day immediately after a White House meeting with President Trump, and Senator Bernie Moreno confirmed the text would be distributed "right after the meeting." The outlet reported that no Senate Democrat had indicated support for the draft, that the bill needs 60 votes so at least seven Democrats must cross over before the August 8 recess, and that the Senate Banking Committee advanced the bill 15-9 on May 14 with Democrats Ruben Gallego and Angela Alsobrooks joining Republicans. The release fell one year after the House passed H.R. 3633 by a 294-134 vote on July 17, 2025.
The CFTC approved Water Street Labs, LLC's application to become a designated contract market (DCM), as reported by Gambling Insider and DeFiRate (July 17, 2026). Both reports attribute the approval to an official CFTC designation order. According to the reports, Water Street Labs plans to offer fully collateralized products through both a central limit order book and a parimutuel auction model. No formal CFTC press release number was located on cftc.gov corresponding to this designation at time of publication.
The U.S. House Committee on Financial Services Subcommittee on Digital Assets, Financial Technology, and Artificial Intelligence noticed a field hearing titled 'Building the Future of Finance: How the CLARITY Act Unlocks Innovation' for Friday, July 17, 2026 at 10:00 AM local time at Federal Hall National Memorial, 15 Pine Street, New York, NY. The Committee Repository entry for the hearing was first published July 10, 2026 and last updated July 15, 2026, when witness testimony, Truth in Testimony forms, and biographies were posted. Four witnesses are listed: Sarah Aberg, Chief Legal Officer, Nova Labs Inc.; Randi Abernethy, Head of Clearing and Group Risk, Bullish; Ryan Louvar, Chief Legal Officer, WisdomTree; and Jason Somensatto, Director of Policy, Coin Center. Two measures are noticed as text of legislation for the hearing: H.Res. 111, 'Expressing support for blockchain technology and digital assets,' and H.R. 8957, the American Reserve Modernization Act. A hearing notice and a committee memorandum are posted as support documents. The hearing is a legislative hearing; no markup, vote, or committee action on the CLARITY Act is noticed on the event page.
· North Carolina Supreme Court (amicus filers: NC Sheriffs' Association, NC Association of Chiefs of Police, NC Conference of District Attorneys, NC Family Policy Council)
On July 16, 2026, the North Carolina Sheriffs' Association, North Carolina Association of Chiefs of Police, and North Carolina Conference of District Attorneys filed a joint amicus brief in No Limit Games v. Sheriff of Robeson County at the North Carolina Supreme Court, urging the court to uphold the Court of Appeals' 2-1 December 2024 ruling that No Limit Games' video sweepstakes devices violate N.C. Gen. Stat. § 14-306.4. The North Carolina Family Policy Council filed a separate amicus brief the same day. Oral arguments are scheduled for September 2026. The case involves whether No Limit's sweepstakes system â which includes an optional skill-based 'Instant Reveal' function â falls outside the statutory prohibition on video games of chance used in the entry or reveal of sweepstakes prizes. A trial court granted an injunction in No Limit's favor in 2023; the Court of Appeals reversed 2-1 in December 2024.
On July 14, 2026, the Commodity Futures Trading Commission announced (Release 9267-26) that it exercised its authority to stay an emergency rule change proposed by KalshiEX, LLC in response to a Michigan state court order directing the company to cancel certain previously executed trades involving Michigan residents, and separately exercised its emergency authority to order KalshiEX to fulfill the open trades in accordance with its normal practices. Chairman Michael S. Selig stated that 'a state cannot force a DCM to violate its obligations, and federal law does not permit a DCM to discriminate against a state's residents,' and called canceling already-executed trades an 'unprecedented step' that risks a cascading effect on the marketplace. The Commission noted that Michigan is the first state to attempt to interfere directly with executed derivatives transactions and that it has filed lawsuits against Arizona, Connecticut, Illinois, Kentucky, Minnesota, New Mexico, New York, Rhode Island, and Wisconsin to protect its jurisdiction.
On July 13, 2026, the U.S. Treasury's Office of Foreign Assets Control added individuals and an entity to its Specially Designated Nationals (SDN) List under its cyber-related authority (CYBER4) for supporting ransomware attacks against Americans, including Ukrainian national Dmytro Rashevskyi, Belarusian national Yevgeniy Vladimirovich Silayev, and the entity First VPN Service (Dnipro, Ukraine). The designations list multiple blocked cryptocurrency wallet addresses spanning Bitcoin, Ethereum, Litecoin, Zcash, Dash, Tron, Dogecoin, and Solana. The action was announced alongside separate Cuba-related designations and a new Cuba-related FAQ (FAQ 1262); the related Treasury press release is SB0559.
On July 15, 2026, KalshiEX LLC filed a letter motion in KalshiEX LLC v. Williams (No. 25-cv-08846-AT, S.D.N.Y., Judge Analisa Torres) seeking an emergency injunction pending appeal of the court's prior denial of a preliminary injunction. The filing states that defendants (New York state officials) agreed not to bring an enforcement action against Kalshi under New York law through July 30, 2026, while the motion is pending. If the court does not grant relief, Kalshi intends to seek a Second Circuit injunction pending appeal on July 23, 2026. The motion argues that the case presents serious legal questions about whether the Commodity Exchange Act preempts state gambling laws, noting the Third Circuit ruled for Kalshi in KalshiEX LLC v. Flaherty (172 F.4th 220, 3d Cir. 2026), while a separate federal preemption suit (CFTC v. New York, No. 26-cv-3404, S.D.N.Y., Judge Marrero) is pending in the same district. Source: primary court document (Docket 110, letter motion filed by Grant Mainland, Milbank) retrieved via CourtListener/RECAP.
As of July 11, 2026, six federal agencies — the Office of the Comptroller of the Currency (OCC), the Federal Deposit Insurance Corporation (FDIC), the National Credit Union Administration (NCUA), the U.S. Treasury Department, the Financial Crimes Enforcement Network (FinCEN), and the Office of Foreign Assets Control (OFAC) — faced a statutory July 18, 2026 deadline (one year after the GENIUS Act's July 18, 2025 enactment) to finalize implementing rules for permitted payment stablecoin issuers (PPSIs), and had not yet issued final rules. Comment periods on the proposed rules closed by early June 2026. The proposed framework requires PPSIs to hold 1:1 reserves in cash, insured deposits, and short-term U.S. Treasuries, and treats issuers as financial institutions under the Bank Secrecy Act. Source: Tech Times (July 11, 2026); corroborated by CryptoSlate and rulemaking trackers (Chapman & Cutler, Paradigm).
Per The Cryptonomist (July 11, 2026) citing the SEC's RegInfo Unified Agenda, the Securities and Exchange Commission has set July 2026 targets for three crypto rule proposals: (1) digital-asset offerings — a Division of Corporation Finance rulemaking that may include exemptions or safe harbors (legal authority listed as 'not yet determined'); (2) broker-dealer financial-responsibility, custody, and recordkeeping amendments (Rules 15c3-1, 15c3-3, 17a-3, 17a-4); and (3) market-structure amendments for crypto trading venues. As of July 11, 2026, no proposal had appeared in the Federal Register; the RegInfo entries reflect agenda-stage targets, not filed NPRMs. Corroborated by Decrypt, The Industry Spread, and Yahoo Finance.
On July 10, 2026, the 21st Century ROAD to Housing Act (H.R.6644) became law without President Trump's signature. Per coverage by The Cryptonomist (July 10, 2026), corroborated by Tech Times (July 11, 2026) and CoinDesk (July 9-10, 2026), Section 1101 prohibits the Federal Reserve from issuing a central bank digital currency (CBDC) or any substantially similar digital asset, directly or through an intermediary, through December 31, 2030. The bill passed the Senate 85-5 (June 22, 2026) and the House 358-32. Coverage reports a carve-out for open, permissionless, privately issued dollar-denominated digital assets (understood by coverage to include stablecoins). Statutory text cited by coverage but not independently retrieved. This supersedes and follows the Senate-passage entry (2026-06-19-senate-passes-road-housing-cbdc-ban) and bill-text entry (2026-06-18-congress-cbdc-ban-road-to-housing-act).
On July 10, 2026, the Office of the Comptroller of the Currency granted Circle Internet Group final approval to establish First National Digital Currency Bank, N.A. (operating as Circle National Trust), a national trust bank that will provide fiduciary digital-asset custody for Circle and its affiliates. Circle applied to the OCC on June 30, 2025 and received conditional approval in December 2025 before final approval on July 10, 2026. As reported, this is the first national trust bank charter granted to a stablecoin issuer; Circle plans for the bank to serve as the primary custodial entity for USDC reserves and related digital-asset custody functions. Source: Circle press release (July 10, 2026); corroborated by American Banker, CoinDesk, CNBC, and BusinessWire. OCC decision letter not independently retrieved.
CoinDesk reported (July 9, 2026) that a new merged version of the Digital Asset Market Clarity Act — combining Senate Banking and Agriculture Committee texts, with reportedly more than 70 pages added — could be released as soon as the week of July 20, 2026 for potential Senate floor action. Per the reporting, the draft had not secured the Democratic support needed for 60 votes to clear a filibuster; the main open issue was an ethics provision restricting senior officials, including the president, from crypto business ties, with federal preemption rules and SEC/CFTC commissioner nominations also unresolved. No bill text had been filed as of July 9, 2026.
On July 14, 2026, the U.S. Department of the Treasury and HM Treasury jointly published recommendations of the Transatlantic Taskforce for Markets of the Future (Treasury press release SB0560). Treasury states the recommendations aim to deepen cross-border financial activity between the United States and the United Kingdom, reduce unnecessary frictions, and advance open, market-based standards, and that they identify opportunities to enhance cross-border capital raising, update supervisory cooperation, and provide clarity for tokenized financial activity. Following one of the Taskforce's recommendations, the United States and the UK released a joint statement on stablecoins the same day, which Treasury says supports dynamic cross-border stablecoin activity and highlights the key role of the private sector in the provision of money and payments. Treasury Secretary Scott Bessent said the Taskforce 'reflects the strength and depth of U.S. and UK markets and our shared commitment to fostering economic growth and advancing global standards that reward innovation and competition.' The Taskforce was established by Secretary Bessent and UK Chancellor of the Exchequer Rachel Reeves in September 2025 and is co-chaired by U.S. Treasury and HM Treasury with participants from U.S. and UK financial sector regulatory agencies.
As reported by Legal Sports Report and Gaming America on July 14, 2026, Ingham County Circuit Court Judge Rosemarie Aquilina heard arguments from the State of Michigan and KalshiEX on Monday, July 13, 2026, and extended the temporary restraining order against Kalshi's sports event contracts without setting an expiration date, ordering Kalshi to geofence the state by the end of day August 12, 2026. Per that coverage, if Kalshi does not geofence by that date it could face a $500,000 daily fine for violating the order, and Aquilina said Kalshi could also be punished under the initial $120,000-per-day penalties if it delays within the 30-day period, stating 'If you sit on it for 29 days, there will be sanctions.' Kalshi argued it falls under CFTC and Commodity Exchange Act regulation; Aquilina found conflict preemption did not apply because Kalshi can comply with both state and federal law simultaneously. The parties are scheduled to appear in court again the following week. The written order was not published on a free public docket and was not retrieved.
As announced by the Independent Community Bankers of America on July 13, 2026, the American Bankers Association and ICBA, joined by 76 state associations, sent a letter to Senate Majority Leader John Thune and Minority Leader Charles Schumer urging targeted changes to the CLARITY Act to provide greater certainty that payment stablecoins cannot function as substitutes for bank deposits. The associations wrote that 'significant questions remain regarding whether the current language in Section 404 provides sufficient clarity and certainty to achieve that objective' and that 'ambiguities within the bill could encourage stablecoin arrangements to effectively function as substitutes for deposits, despite Congress's longstanding and clearly stated intent that payment stablecoins should serve as transaction tools rather than store-of-value products.' They urge revisions clarifying the prohibition on interest and yield, replacing the bill's 'functional and economic equivalent' standard with a 'substantially similar' standard, and removing language they believe could create ambiguity regarding rewards tied to stablecoin balances, duration or tenure. The underlying letter is linked from the announcement and was not independently retrieved.
Multiple credible outlets (crypto.news, TechTimes, The Hill) reported on July 11-12, 2026 that Senate staff are expected to release a unified draft of the Digital Asset Market Clarity Act (H.R. 3633) during the week of July 13, 2026, merging parallel Senate Banking and Agriculture Committee texts. Floor action is targeted for the week of July 20. The Senate leaves for its August recess on August 7, 2026, leaving approximately three working weeks. Galaxy Research has reduced 2026 passage odds to 50%, citing calendar compression, down from 60% earlier in July. Three disputes remain unresolved: (1) ethics/conflict-of-interest rules covering senior officials with crypto holdings; (2) CFTC commissioner vacancies; (3) Section 604 blockchain developer shield. H.R. 3633 passed the House 294-134 on July 17, 2025; cleared Senate Banking Committee 15-9 on May 14, 2026; placed on Senate Calendar No. 423 on June 1, 2026.
On July 10, 2026, the Arizona Department of Gaming announced it had issued cease-and-desist orders to BetOpenly, Bookmaker, Club WPT Online Poker, Kutt Inc., and Raffle Creator, with each enforcement action alleging conduct giving rise to the felonies of promotion of gambling, illegal control of an enterprise, and money laundering. The Department alleges, among other things, that BetOpenly enabled event wagering and daily fantasy sports contests without the requisite state licenses and facilitated availability to underage Arizonans; that Bookmaker facilitated wagering on horse racing, casino games, and sports betting without an event wagering or advanced deposit wagering provider license; that Club WPT Online Poker enabled Arizonans under 21 to engage in pay-to-play online poker tournaments for prizes while using deceptive 'no purchase necessary' language; that Kutt Inc. allowed Arizona users to deposit money and wager on sports, politics, pop culture and casino-style games in a manner providing prohibited third-party benefit; and that Raffle Creator allowed people under 21 to purchase raffle tickets for prizes without meeting Arizona nonprofit raffle requirements. Notified entities are directed to immediately stop all gambling operations and activities in Arizona and to desist from future illegal gambling operations; the Department states future actions may include criminal charges or civil action against entities, principals, and employees, potential restitution awards, and forfeiture of all monies acquired due to the illegal conduct. Department Director Jackie Johnson said, 'Through these cease-and-desist orders we are putting operators on notice: their conduct runs contrary to Arizona law and they must stop promoting illegal gambling.' All conduct described is alleged by the Department and unadjudicated.
On July 8, 2026, North Carolina Governor Josh Stein signed Senate Bill 257, the state's approximately $34 billion fiscal year 2026 budget. As reported by GamblingNews (July 8, 2026), the enacted budget includes a 6% tax on the net trading fee revenue earned by prediction market operators with North Carolina users; platforms named in reporting include Kalshi and Polymarket. The tax is scheduled to take effect in 2027. The enacted budget does not impose state gambling licensing, know-your-customer, or responsible-gaming requirements on prediction-market platforms. This item supersedes the July 6 item (2026-07-06-north-carolina-prediction-market-tax), which covered SB 257 at conference committee stage; the Governor's signing converts it to enacted law.
As reported by GamblingNews (July 8, 2026), the New Jersey Senate Budget and Appropriations Committee approved amendments to S4447 by a 9-4 vote. The amended bill imposes a 9% tax on prediction market gross income for operators offering event contracts to New Jersey residents. The amended version explicitly recognizes the CFTC as the federal regulator of prediction markets and drops prior self-exclusion requirements. The New Jersey Office of Legislative Services estimated the tax would generate approximately $10.3 million to $15.3 million annually. The bill requires a full Senate vote, Assembly action, and the Governor's signature before becoming law.
On July 7, 2026, U.S. District Judge Analisa Torres (S.D.N.Y.) denied KalshiEX LLC's motion for a preliminary injunction in KalshiEX LLC v. Williams (No. 1:25-cv-08846), a suit against the New York State Gaming Commission. The order states that 'New York gambling laws as applied to Kalshi's sports-event contracts are not preempted by the CEA and Kalshi has not, therefore, made a clear or substantial showing that it is likely to succeed on the merits.' The court declined to read the Commodity Exchange Act's grant of exclusive jurisdiction as leaving no room for state gambling regulation, found Kalshi's alleged injuries were largely monetary, and noted that nothing prevents Kalshi from obtaining a license under New York law. As reported by The Block (July 8, 2026), Kalshi has appealed the decision to the U.S. Court of Appeals for the Second Circuit.
On July 7, 2026, the CFTC filed a civil enforcement complaint in the U.S. District Court for the Western District of North Carolina (Press Release 9264-26) against Trevor L. Vernon and Argent Capital Management LLC. The complaint alleges that from approximately March 2022 through February 2026, Vernon and Argent Capital solicited approximately $14 million from more than 60 participants for a commodity pool that purported to trade equity index futures contracts, options on equity index futures, and crypto assets, among other purported investments. The CFTC alleges Vernon misappropriated pool funds and operated a Ponzi-like scheme, making lulling payments to earlier participants with funds from newer investors. The complaint seeks restitution, civil monetary penalties, disgorgement, and permanent trading and registration bans.
As reported by CoinDesk and Tech Times (July 5, 2026), the Nevada Supreme Court on or about July 1, 2026 denied KalshiEx, LLC's emergency motion for a stay pending appeal, so Kalshi must continue to geofence and block Nevada users from prohibited event contracts while the state's lawsuit proceeds. Per the coverage, a three-justice panel (Linda Marie Bell, Ron D. Parraguirre, and Kristina Pickering) said it was 'not persuaded' by the emergency motion. Separately, the Nevada Gaming Control Board has asked the First Judicial District Court to hold Kalshi in contempt for allegedly failing to geofence the state, and a full-day evidentiary hearing on that question is scheduled for July 16, 2026.
As reported by CoinDesk and Tech Times (July 5, 2026) and corroborated by WRAL and Bloomberg Tax, North Carolina lawmakers included a 6% tax on prediction-market operators' net in-state trading-fee revenue in the state's roughly $34 billion conference budget bill (SB 257), reported the week of June 30-July 2, 2026. Per the coverage, the tax would take effect in 2027 and apply to platforms such as Kalshi and Polymarket, but the budget language does not place prediction-market platforms under North Carolina's gambling licensing, know-your-customer, or responsible-gaming rules; the same budget raises the state's online sports-betting tax from 18% to 23%.
On June 29, 2026, the Supreme Court of the United States issued its 6-3 opinion in Trump v. Slaughter (No. 25-332), authored by Chief Justice Roberts, overturning Humphrey's Executor v. United States (1935). The Court held that the for-cause removal protection in the FTC's enabling statute — and by structural extension the SEC and CFTC, which operate under identical removal provisions — is contrary to the separation of powers under the Constitution. Effective immediately, the President may remove SEC and CFTC commissioners without cause. A companion order in Trump v. Cook (No. 25A312, June 29, 2026) denied a government application to stay a preliminary injunction protecting Federal Reserve Governor Lisa Cook; the Federal Reserve's statutory structure was not directly addressed by the majority opinion. The opinion is published on the Court's official slip opinion list for October Term 2025.
crypto exchanges, digital asset issuers, fintech platforms, prediction-market operators, CFTC-registered entities, and all operators subject to SEC or CFTC jurisdiction
As of July 2, 2026, the Digital Asset Market Clarity Act (H.R. 3633) did not receive a Senate floor vote before the July 4 recess deadline targeted by White House crypto adviser Patrick Witt. According to the Bitcoin Foundation (July 2, 2026; corroborated by Elliptic, Crypto.news, PYMNTS, and Yahoo Finance/BeInCrypto), bipartisan negotiations failed to secure the minimum 7 Democratic votes needed to clear the Senate's 60-vote cloture threshold. Outstanding disputes included DeFi oversight provisions, stablecoin rewards provisions, AML reporting requirements, and Section 604 (Blockchain Regulatory Certainty Act). The bill remains on the Senate Legislative Calendar (General Orders, Calendar No. 423) and is not dead; a floor vote has been pushed to after the July 4 recess at earliest. Multiple trade outlets reported prediction market passage odds fell from approximately 74% approximately one month prior to approximately 48% as of the July 2 reporting date.
On July 1, 2026, OFAC published two actions on its recent-actions page. First, OFAC updated the existing SDGT entry for ISIS-K to add three Monero (XMR) cryptocurrency wallet addresses and more than 100 TRON (TRC-20) blockchain addresses — including USDT-TRC20 stablecoin addresses — to the SDN List. Second, OFAC designated Pixwave Soluções de Pagamentos Ltda, a Brazilian payment-technology company, under the SDGT authority (E.O. 13224) and Executive Order 14059 (ILLICIT-DRUGS-EO14059), alleging Pixwave provided payment-processing services to the Primeiro Comando da Capital (PCC), a Brazilian narco-trafficking organization. Both designations are effective July 1, 2026.
crypto exchanges, virtual asset service providers (VASPs), payment processors, money transmitters, and any US person transacting in Monero or TRON-chain assets (including USDT-TRC20)
On June 30, 2026, the SEC released Release 33-11426, a request for public comment on potential amendments to its registration and disclosure rules for novel types of exchange-traded funds, including crypto-asset ETFs and ETFs holding event-contract or prediction-market exposures. The release asks whether current disclosure frameworks adequately address risks specific to non-standard ETF product types and whether the Commission should take additional steps, including potential Commission-initiated delay of automatic effectiveness of registration statements under Rule 485. Comments are due 60 days after Federal Register publication.
On June 25, 2026, the SDNY entered a final judgment by default against NanoBit Limited and co-defendants in SEC v. NanoBit Limited et al. (No. 1:24-cv-09413). NanoBit operated a fraudulent cryptocurrency trading platform where victims were recruited through social media and dating apps. The final default judgment orders disgorgement, prejudgment interest, and civil monetary penalties totaling approximately $5.4 million. The SEC published the order as Litigation Release No. LR-26576 on June 29, 2026.
As reported by the Wall Street Journal, CNBC, Forbes, and the New York Times on June 26, 2026, the CFTC has an ongoing investigation into Polymarket. The prior CFTC and DOJ investigation was dropped in July 2025. The reported probe follows a WSJ investigation documenting that Polymarket paid social-media content creators to post videos of staged winning outcomes. On June 26, 2026, Senators Curtis (R-UT) and Schiff (D-CA) sent a bipartisan letter to CFTC Chairman Michael Selig requesting disclosure of the scope and status of the investigation.
On June 29, 2026, Michigan AG Dana Nessel announced a temporary restraining order in the Ingham County Circuit Court (Case No. 26-1087-CZ, Hon. Rosemarie Aquilina) halting KalshiEx from offering or advertising internet sports betting to Michigan residents. The order runs 14 days through July 13, 2026, requires Kalshi to use a MGCB-licensed third-party geolocation provider to block Michigan users, and imposes a $120,000-per-day fine for non-compliance.
As reported by The Guardian (June 28, 2026), the ICBA launched a six-figure advertising campaign in Washington D.C. opposing CLARITY Act provisions that would allow stablecoin issuers to pay yield on holdings. ICBA argues the provisions could draw $1.3 trillion in deposits away from community banks. Galaxy Research reduced its passage estimate to approximately 50%; Polymarket priced passage at approximately 42%. A unified updated draft was expected during the July 4 weekend.
On June 24, 2026, the OCC — in coordination with FinCEN and OFAC — published a Notice of Proposed Rulemaking (document 2026-12692) proposing Bank Secrecy Act and sanctions compliance program standards for permitted payment stablecoin issuers (PPSIs) under the GENIUS Act. The proposal builds on a March 2, 2026 proposed rule; a public comment period is open.
Iowa Governor Kim Reynolds signed Senate File 2289 on May 15, 2026. Effective July 1, 2026, the law grants the Iowa Racing and Gaming Commission authority to issue cease-and-desist orders and seek injunctive relief against unlicensed online sweepstakes casino operators. Platforms including High 5 Casino, Baba Casino, and Lucky Bunny Casino announced they would cut off Iowa player access effective June 30-July 1, 2026.
On June 26, 2026, seventeen Democratic senators sent a letter to the Senate Appropriations Subcommittee on Financial Services and General Government requesting that the FY2027 appropriations bill prohibit the CFTC from using federal funds to prevent states and Tribes from enforcing their gambling laws against online prediction markets. The letter identifies eight states already sued by the CFTC.
On June 25, 2026, the CFTC published a Notice of Proposed Rulemaking (Press Release 9261-26) proposing amendments to Parts 15, 16, and 17 of CFTC regulations to establish an alternate data-reporting framework for fully collateralized event contracts, replacing an informal reporting regime that has operated under staff no-action letters since 2017.
· KalshiEx LLC (plaintiff) v. Governor JB Pritzker, Attorney General Kwame Raoul, Illinois Gaming Board — U.S. District Court, Northern District of Illinois
Kalshi filed a 31-page federal complaint in the N.D. Illinois on June 23, 2026. SB3019 imposes: (a) a 15% gross-receipts tax on sports prediction market revenues; (b) a state licensing requirement for CFTC-registered DCMs. Both provisions took effect July 1, 2026. Kalshi argues both provisions are preempted by the Commodity Exchange Act's exclusive-jurisdiction clause (7 U.S.C. § 2(a)(1)(A)). The complaint seeks a TRO, preliminary injunction, and permanent injunction.
Senator Cynthia Lummis stated on Fox Business on June 24, 2026 that the CLARITY Act will reach the Senate floor in July, with the week of July 13 identified as the target window. Galaxy Research put passage-before-recess probability at approximately 60%. The House Financial Services Committee scheduled a July 17, 2026 field hearing. On June 23, 2026, a law enforcement coalition wrote to Acting AG Todd Blanche opposing Section 604.
The Digital Asset Market Clarity Act has been placed on the U.S. Senate Legislative Calendar as Calendar No. 423, following a 15-9 Senate Banking Committee markup on May 14, 2026. House Agriculture digital-assets subcommittee chair Rep. Dusty Johnson stated the House will move immediately on a companion measure if the Senate passes the bill before the August recess. The bill requires approximately 60 votes to clear a Senate filibuster — about seven Democratic votes beyond full Republican unity.
· American Gaming Association, Indian Gaming Association, AFL-CIO Hotel and Gaming Trades Council, UNITE HERE (coalition letter to U.S. Senate, June 16, 2026)
On June 16, 2026, a coalition led by the AGA, the Indian Gaming Association, the AFL-CIO's Hotel and Gaming Trades Council, and UNITE HERE sent a letter to the U.S. Senate urging legislators to amend the CLARITY Act to include explicit language barring prediction markets from offering sports and casino-style event contracts. The AGA has separately estimated states have lost roughly $1 billion in gaming tax revenue to prediction markets since the start of 2025.
On June 17, 2026, Kentucky AG Russell Coleman filed lawsuits in Franklin Circuit Court against Kalshi, Polymarket, and sweepstakes-casino operator VGW (Chumba Casino, Global Poker, LuckyLand Slots), alleging illegal, unlicensed gambling operations within the Commonwealth.
The CFTC amended its lawsuit against the State of Illinois (N.D. Illinois, No. 1:26-cv-03659) after Gov. JB Pritzker signed a budget creating a new tax structure for prediction markets. The amended complaint challenges Illinois's 'exchange wager' provisions imposing transaction fees of 1.75% to 3.5% on sports event contracts. The CFTC also filed a motion for a preliminary injunction.
On June 10, 2026, a proposed class action (Mazza v. Robinhood) was filed in the N.D. California against Robinhood Markets, Inc. and Robinhood Derivatives, alleging the company operates an unlicensed, illegal sports-gambling operation. The named plaintiff alleges he lost approximately $400,000 in fees, commissions, and wagers in 2025-2026.
The Sixth Circuit consolidated KalshiEx LLC v. Schuler (No. 26-3196) with a related Tennessee appeal, uniting two cases that produced conflicting lower-court rulings on whether states can regulate sports event contracts on federally regulated exchanges.
On June 16, 2026, the Cayuga Nation of New York filed a federal lawsuit against American Wagering, Inc. (d/b/a Caesars Sportsbook), alleging that Caesars accepted mobile sports wagers from people physically located on the Cayuga reservation without tribal authorization, a gaming compact, or federal oversight, in violation of IGRA.
On June 18, 2026, the U.S. Senate invoked cloture (84-8) and passed H.R. 6644. The bill includes a provision banning the Federal Reserve from issuing or creating a central bank digital currency (CBDC) through December 31, 2030. The amended bill returns to the House for concurrence.
On June 18, 2026, U.S. District Judge Paul Maloney denied Robinhood's motion for a preliminary injunction against Michigan state gambling enforcement. The court held: (1) sports event contracts are not 'swaps' under the CEA; and (2) even if they were swaps, it is not clearly established that the CEA would preempt Michigan's state gambling law.
On June 16, 2026, the Sixth Circuit denied the CFTC's motion to appear as amicus curiae at oral argument in KalshiEx LLC v. Matthew T. Schuler et al. (No. 26-3196). The CFTC had submitted a written amicus brief on May 12, 2026, asserting exclusive CFTC jurisdiction over prediction markets.
CME Group filed suit against the CFTC challenging the June 2026 approval of Bitcoin perpetual futures contracts (BTCPERP) on KalshiEx via Regulation 40.2 self-certification. CME argues: (1) perpetual futures contracts are 'swaps' under the CEA; and (2) using the 24-hour self-certification process violated the APA.
On June 18, 2026, the CFTC and SEC jointly issued Release 9257-26, a Request for Information on derivatives data reporting and regulatory technology modernization.
On June 18, 2026, the CFTC and SEC jointly issued Release 9258-26, a Request for Information on event-based contracts and the application of existing regulatory frameworks to prediction markets. This is the first joint inter-agency RFI on the jurisdictional classification of event contracts and prediction markets.
On June 18, 2026, the CFTC entered a final consent order against Celsius Network LLC and its former CEO Alex Mashinsky resolving: (1) fraudulent misrepresentation; (2) market manipulation of the CEL token; and (3) operating as an unregistered commodity pool operator. The DOJ's separate criminal case against Mashinsky continues.
On June 18, 2026, the Federal Reserve Board — jointly with the OCC, FDIC, NCUA, and Treasury/FinCEN — requested comment on a proposed rule requiring permitted payment stablecoin issuers (PPSIs) to maintain an effective customer identification program (CIP). Comments are due 60 days after publication in the Federal Register.
Illinois Governor JB Pritzker signed Senate Bill 3019, the Digital Asset Tax Act (DATA), as part of the state's $55.9 billion budget, making Illinois the first U.S. state to impose a transaction-based tax on digital-asset activity. The law imposes a 0.2% privilege tax on brokers who exchange, transfer, or store digital assets for customers in the state; takes effect January 1, 2027.
On June 16, 2026, the leaders of the Senate Banking and House Financial Services Committees released updated bill text for H.R. 6644, folding in a statutory ban on a Federal Reserve CBDC through December 31, 2030.
A coalition of federally recognized tribes filed amicus briefs in two federal prediction-market cases, arguing that allowing Kalshi and the CFTC to override state gaming laws would also nullify tribal-state gaming compacts.
On June 17, 2026, the W.D. Michigan denied Polymarket's motion for a preliminary injunction against enforcement of Michigan state gambling law. The court held: (1) sports event contracts are not 'swaps' under the CEA; and (2) even if they were swaps, it is not clearly established that the CEA would preempt Michigan's state gambling law.
On June 9, 2026, the New York State Department of Financial Services, under Acting Superintendent Kaitlin Asrow, proposed a regulation to build on New York's existing stablecoin framework and align it with the federal GENIUS Act.
On June 16, 2026, the CFTC issued Release 9254-26, a Request for Information on fintech innovation, AI, and digital asset technologies. The RFI covers DeFi protocols, AI/ML applications in trading, RWA tokenization, payment stablecoins as margin/collateral, and cybersecurity.
On June 15, 2026, the Pennsylvania Supreme Court issued its majority opinion in J-97-2025 (Pace-O-Matic v. Pennsylvania), ruling that skill game machines 'are subject to both the Gaming Act and the Crimes Code,' overturning a Commonwealth Court ruling. The Court issued a 120-day enforcement stay.
The Financial Technology Association filed suit in Davidson County (Tennessee) Chancery Court seeking an injunction to block HB2502, a law signed by Gov. Bill Lee in May 2026 that adds a $10 fee on monetary wire transfers abroad plus a 2% tax on transfers over $500 (effective Jan. 1, 2027). The FTA argues the law is unconstitutional under the dormant Commerce Clause.
Delaware and New Jersey have each advanced legislation to ban cryptocurrency ATMs statewide, citing fraud losses. Delaware's HB 441 passed the House; it would require existing kiosks to go dark upon enactment and be physically removed within 90 days. New Jersey's S-2141 cleared the Senate Commerce Committee unanimously.
On 2026-06-11, former CFTC and SEC chair Gary Gensler filed an amicus brief with the Sixth Circuit in KalshiEx LLC v. Schuler, arguing that sports-event prediction-market contracts fall outside the statutory definition of a 'swap' under Dodd-Frank and are therefore not within the CFTC's exclusive jurisdiction.
On 2026-06-09, the State of Wisconsin filed a motion for a preliminary injunction seeking to block KalshiEx, Coinbase, and Robinhood from offering sports event-contract trading to people in the state.
On 2026-06-12, the Coalition for Fair Markets — comprising Crypto.com's NADEX, Kalshi, and Polymarket's U.S. exchange QCX — filed suit in Franklin Circuit Court to block Kentucky from implementing a 14.25% tax on prediction-market transaction fees set to take effect Jan. 1, 2027.
On 2026-06-12 the Nevada Gaming Control Board petitioned the First Judicial District Court in Carson City to find KalshiEx LLC in contempt for allegedly not complying with a May 18 order requiring it to geofence its website so it cannot offer sports-, election-, or entertainment-related event contracts to anyone located in Nevada.
On 2026-06-12 the CFTC filed suit against the State of New Mexico, seeking a declaratory judgment that federal law grants it exclusive authority over event contracts and a permanent injunction barring the state from enforcing preempted gaming laws against CFTC registrants. New Mexico joins AZ, CT, IL, NY, MN, RI, and WI.