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first_img Galaxy: The probability of the CLARITY Act passing has dropped to 10%, SEC and CFTC accelerate independent actions

Galaxy Research analyst Alex Thorn pointed out that as the likelihood of the CLARITY Act passing in 2026 significantly decreases, the U.S. SEC and CFTC are intensifying independent cryptocurrency regulatory actions. The bill previously gained bipartisan support in the Senate Banking Committee but has stalled due to unresolved ethical rules for officials regarding cryptocurrency, pressure from community banks leading to some Republican positions softening, and disputes over developer protection clauses. The Senate Majority Leader failed to push for a vote before the August recess, and the September session is only about two to three weeks long, leading Galaxy to lower the probability to 10%.On the SEC side, the originally planned "Reg Crypto" exemption (which provides a new path for primary issuance of crypto assets) and "Innovation Exemption" (which allows tokenized securities to trade in DeFi secondary markets) have been postponed multiple times. It is reported that the agency had retreated due to opposition from the traditional securities industry, but may restart due to the bleak outlook of the bill, with text expected to be released in the coming weeks to months. These measures are likely to be time-limited sandboxes that will face litigation and require years to refine. The CFTC is actively advocating for jurisdiction over prediction market contracts, responding to the New York Attorney General's attempt to issue an emergency order to ban Kalshi event contracts nationwide, continuing the tug-of-war over federal and state jurisdiction regarding prediction markets.Thorn believes that while the bill covers a comprehensive framework including registration licensing, compliance monitoring, and consumer protection, it is currently more dominated by political factors. SEC Commissioner Hester Peirce's planned departure in November also adds urgency to the advancement of the rules. The related actions aim to fill the legislative vacuum but may ultimately undergo a lengthy judicial and rule-making process.

Morgan Stanley increased its stake in Circle to 8.32 million shares in Q2 and added to its Bitcoin and Ethereum ETF positions

According to Cointelegraph, Morgan Stanley's latest 13F filing submitted to the U.S. SEC shows that as of June 30, it held approximately 16.5 million shares of BlackRock IBIT, an increase of 23% from 13.4 million shares in the first quarter. However, due to the decline in Bitcoin prices during the quarter, the market value of this holding dropped from $667 million to $549 million, a decrease of about 18%.During the same period, Morgan Stanley also held 2.57 million shares of MSBT, valued at approximately $43.3 million, and increased its holdings in Grayscale Bitcoin Mini Trust, Bitwise Bitcoin ETF, and Fidelity FBTC, with FBTC holdings increasing by nearly 38%.In terms of Ethereum, its ETHA holdings increased by about 202% to 4.6 million shares, and the Grayscale Ethereum Staked Mini ETF holdings increased by about 26% to 5.1 million shares. Additionally, Morgan Stanley also established new positions in the Grayscale Solana Staked ETF and Fidelity Solana Fund, with market values of approximately $4.25 million and $2.26 million, respectively.On the individual stock front, Morgan Stanley's holdings in Circle (CRCL) surged from about 1.46 million shares to 8.32 million shares, while also increasing positions in mining companies and infrastructure firms such as Cipher Digital, Core Scientific, Hut 8, and Bitdeer; on the other hand, it reduced its holdings by about 550,000 shares in Coinbase, reduced over 3.1 million shares in CleanSpark, and completely exited approximately 8 million shares in Bitfarms.

first_img JPMorgan Chase Q2 disclosed an increase in holdings of Bitcoin and Ethereum ETFs, re-entered XRP, and established a new position in Solana

According to Coinpedia, JPMorgan, with an asset management scale of approximately $5.1 trillion, submitted its Q2 13F filing to the SEC, showing significant adjustments in its crypto-related ETF holdings. In terms of Bitcoin, the bank held approximately 10.4 million shares of BlackRock's IBIT as of June 30, valued at about $355.7 million, up from about 8.3 million shares and nearly $162 million in Q1; the number of IBIT call options increased to about 3.94 million, while put options decreased from about 4.75 million to about 3.5 million.Regarding Ethereum, JPMorgan held nearly 1.17 million shares of BlackRock's ETHA, valued at approximately $14.3 million, a significant increase of 338% compared to the previous quarter, but the value of Bitcoin positions still exceeds that of ETHA by more than twenty times. For XRP, after the related positions were reduced to zero in Q1, the bank re-established its holdings, holding small shares of Bitwise XRP ETF and Grayscale XRP Trust ETF, as well as approximately 19,900 shares of Armada Acquisition Corp II related to Ripple-supported trading, valued at about $207,000.In addition, the filing also showed that JPMorgan established a new position in Bitwise Solana Staking ETF, holding about 47,500 shares. The article also mentioned that there has been a recent net outflow from the U.S. spot Bitcoin ETF, with the next 13F covering Q3 expected to be disclosed in November.

first_img Binance will gradually restrict trading with 17 cryptocurrency trading platforms including BitPapa and Tradex

Binance announced that, in response to recent regulatory changes, to continuously comply with relevant regulations and ensure the safety of user assets, Binance will no longer process transactions involving certain cryptocurrency service providers/platforms starting from the following dates: effective August 7, including Shelbit, Aban Tether Exchange; effective August 13, including A7 Nigeria, A7 Africa, PilotFinance; effective August 23, including Rapira, Aifory Pro, ABCeX, WhiteBird, NoOnecrypto, Tradex, Monease, BitPapa, Exnode, Exnode Pay, HTX (Huobi Global SA), EXMO, and other platforms.Binance reminds users to avoid transferring or receiving assets directly or indirectly to the above entities, or engaging in other transactions with them, as related transactions may require additional compliance review, during which wallets may be restricted, and related activities may also involve violations of Binance's Terms of Use.A spokesperson for Huobi HTX responded that Huobi HTX has always strictly complied with the relevant laws and regulations of its operating location. Regarding recent sanctions related to the EU and the UK, the platform is actively communicating and has made good progress.The spokesperson for Huobi HTX also stated that Huobi HTX is currently not operating in the EU region and does not have EU region customers, so users need not worry excessively. The platform will continue to prioritize compliance and actively and responsibly advance related matters, and also appreciates the community's understanding and support.
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