Topic
The U.S. process by which agencies like Treasury, FinCEN, SEC, and CFTC, along with Congress, write and enforce rules governing banking, markets, and crypto.
Trump is expected to join crypto, prediction market and AI executives on the 19th, with CME, Nasdaq, ICE and DTCC also invited. The CFTC's new advisory committee meets the next day.
Perspective Coverage
3 publishersReality
Combined Kalshi and Polymarket volume reached $53 billion in July, an annual pace above Bernstein's forecast for all of 2026, and Senate Banking Democrats say contracts tied to corporate metrics belong to the SEC.
Reality
Cloture failed with 49 of the 60 votes needed. The two-agency perimeter the industry spent hundreds of millions to buy now falls to whatever the SEC and CFTC write on their own. Atkins still wants a statute.
Reality
The Senate's 49-50 cloture vote leaves the question of when a token is a security inside SEC and CFTC rulemaking. Institutions weighing capital commitments now underwrite rules a future agency can rewrite.
Reality
H.R.10230 would restore the NCUA's lapsed authority over third-party vendors and extend similar power over the institutions the FHFA regulates. The Defense Credit Union Council says the scope is drawn too wide. No hearing date is on the record.
Reality
The final rule exempts every US-formed entity and erases the data already collected on US persons before it takes effect on August 14, 2026. Verification becomes a contract problem.
Reality