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JPMorgan and Citadel Securities Both Warn: Stay Cautious Ahead of Nonfarm Payrolls, Advise Investors to Hedge Downside Risk in Advance

Odaily News JPMorgan and Citadel Securities have both issued short-term warnings, advising investors to remain cautious ahead of the upcoming period of dense macro data releases and the Federal Reserve policy meeting, and to utilize option prices currently at yearly lows to strengthen downside risk hedging.After Fed Chair Warsh delivered a clear signal in his highly anticipated speech on August 28, emphasizing that U.S. inflation has not shown any substantial slowdown, the trading team led by JPMorgan's Head of U.S. Market Intelligence, Andrew Tyler, decided to abandon their bullish stance ahead of the September 16 Fed policy decision. Although they expect economic data and corporate earnings to continue providing support, they have downgraded their view on U.S. equities to tactically cautious.Scott Rubner, Head of Equity and Equity Derivatives Strategy at Citadel Securities, noted that retail investor buying activity in September, as tracked by his firm, has been the weakest of the year since 2019. On days when the S&P 500 index declines, average net retail buying volume is only about half of normal levels. (Bloomberg)

CZ Responds to Binance’s $4.3 Billion Fine: Bore the Pressure for the Industry, Considers It Worth It

According to HK01, Binance founder Changpeng Zhao recently traveled to Hong Kong to attend the 2026 Bitcoin Asia Conference. During an exclusive interview with HK01, he discussed his memoir *Binance Life*, his time in prison, and Binance's $4.3 billion fine. He revealed that most of the memoir's initial draft was completed while incarcerated. Due to strict conditions limiting computer use to 15-minute sessions without copy-and-paste functionality, he had to rely on fragmented moments to write.

US SEC and CFTC Postpone Compliance Date for Form PF Amendments for Fourth Time

The U.S. Commodity Futures Trading Commission (CFTC) announced that it has jointly issued a final rule with the U.S. Securities and Exchange Commission (SEC) further extending the compliance date for the Form PF amendments approved on February 8, 2024, from October 1, 2026, to July 1, 2027. The CFTC stated that the extension will enable relevant filers to avoid potentially significant costs incurred from implementing subsequent requirements that may be modified or rescinded, and will provide regulators with sufficient time to thoroughly review the comments received on the new rule proposal in April 2026.

CZ: Taking a $4.3 Billion Fine Was "Worth It" for the Industry

Odaily News: Binance Founder Changpeng Zhao (CZ) has stated that most of the first draft of his 374-page autobiography, "The Binance Life", was written in prison. He had only 15 minutes of computer time per session, no copy-paste function, and had to use fragmented time between queuing for equipment.He recalled that in November 2023, Binance paid a $4.3 billion fine for violating the U.S. Bank Secrecy Act. He personally was fined $150 million and stepped down as CEO. He stated that had he not taken on the responsibility, Binance and the entire industry could have suffered greater consequences, making his choice "worth it."Changpeng Zhao said the most agonizing part of his sentence was the uncertainty, as both the fine amount and the sentence length changed over time. U.S. Immigration and Customs Enforcement also issued detention orders three times. He believes this experience made him realize that freedom is not absolute, but his belief in "financial freedom" has been strengthened. (HK01)

The Ninth Circuit ruled that Kalshi sports event contracts are not swaps, New Jersey has until September 3 to seek Supreme Court review

Odaily News - The U.S. Court of Appeals for the Ninth Circuit ruled 3-0 on August 28 that sports event contracts offered by Kalshi are not swaps, and that the Commodity Exchange Act does not preclude Nevada from applying gambling regulations to the relevant contracts. The court also vacated a prior injunction that allowed Kalshi to continue offering the contracts, and denied injunction requests from Crypto.com and Robinhood.The U.S. Court of Appeals for the Third Circuit ruled in April of this year that Kalshi's related contracts were likely swaps and protected by federal law from state regulation. The two federal appellate courts are now split on the issue, and New Jersey has a September 3 deadline to petition the U.S. Supreme Court for review.Kalshi said it will seek further review and believes current U.S. Commodity Futures Trading Commission (CFTC) rules do not prohibit sports event contracts. Robinhood said it plans to appeal; the CFTC, meanwhile, noted that derivatives structured as swaps qualify as swaps, and except for onions and movie box office revenue, the law provides no related exemptions. (Bitcoin.com News)

North Korean hackers active on Hyperliquid, Trump pushes platform to move to US

Investigations reveal that North Korean hackers have moved tens of millions of dollars in funds on the decentralized exchange Hyperliquid; meanwhile, the Trump administration is pushing for the protocol to launch in the United States and seeking compliance.

Former U.S. Representative George Santos banned for life from Kalshi and fined $71,400 for manipulating his own prediction market appearances

Odaily News The prediction market platform Kalshi has permanently banned former U.S. Representative George Santos and fined him $71,400. Kalshi determined that he manipulated markets related to whether he would attend the State of the Union address, profiting $17,800 from the scheme.In a disciplinary notice issued on August 28, Kalshi's compliance department stated that Santos made multiple large trades in the relevant markets between February 2 and 25. Since he could influence the market outcome, platform rules prohibited him from trading in that market; he subsequently made false or misleading statements regarding his attendance plans in an attempt to influence the prices of the "Yes" and "No" contracts.Kalshi determined that the statements were intended to manipulate prices and did cause price movements, resulting in violations of rules against market manipulation, trading on event outcomes, and fraudulent manipulation. He was also penalized for failing to cooperate with the investigation. This penalty marks the first time Kalshi has issued a lifetime ban against a former member of Congress. (Decrypt)

CLARITY Act passage probability drops to 13% this year, Senate procedural vote set for September 15

Odaily News Prediction market platform Polymarket shows that the implied probability of the CLARITY Act passing and becoming law in 2026 is 13%, with related contract trading volume of approximately $11.5 million, a significant decline from the 82% priced by the market in February.The U.S. Senate plans to hold a procedural vote on the bill on September 15. The motion to invoke cloture to start the vote was filed by Majority Leader John Thune and typically requires 60 votes. Prediction market platform Kalshi puts the probability of a Senate vote occurring before October 1 at 91%, with related market trading volume exceeding $1.25 million.The CLARITY Act aims to establish a federal regulatory framework for crypto markets, with the U.S. Commodity Futures Trading Commission (CFTC) exclusively regulating spot digital commodity markets, and the U.S. Securities and Exchange Commission (SEC) overseeing certain securities offerings and exchange activities. The bill still faces disagreements over conflicts of interest between officials and the crypto industry, stablecoin yields, and protections for decentralized finance and non-custodial software developers. (Bitcoin.com News)

Trump says current interest rates are too high.

US President Trump publicly stated that current interest rate levels are too high, drawing market attention to the direction of the Federal Reserve's monetary policy.

Trump said he respects Fed Chair Warsh and stated that he will act according to his duties.

US President Trump publicly affirmed his respect for Federal Reserve Chair Wash, noting that he will independently fulfill his necessary duties, thereby stabilizing expectations for the current monetary policy framework.

Offshore crypto perpetual contract trading volume reaches $9 trillion, former SEC and CFTC officials call for reduced regulatory burden

Odaily News: The U.S. Securities and Exchange Commission (SEC) and the U.S. Commodity Futures Trading Commission (CFTC) are advancing cryptocurrency regulatory rulemaking, having solicited public comments on the definitions of swaps, security-based swaps, and emerging products, as well as on the boundaries of regulatory jurisdiction.Former CFTC Chairman Chris Giancarlo, former CFTC commissioners Brian Quintenz and Sharon Brown-Hruska, and former SEC commissioner Steven Wallman, among others, stated in a joint letter supported by Kalshi that similar risks should be subject to similar regulation, avoiding overlapping rules that increase compliance costs.Kalshi estimates that offshore perpetual contract trading volume will exceed $9 trillion in 2025, up from approximately $2.8 trillion two years ago. Chris Giancarlo said that if U.S. regulation is calibrated to actual risk rather than maximum burden, related liquidity could flow back to the United States.Last week, the SEC submitted proposed revisions to custody rules for investment advisers and investment companies to the White House Office of Information and Regulatory Affairs (OIRA) for review, aiming to clarify requirements for regulated investment institutions providing digital asset custody services. The SEC's "Reg Crypto" proposal has been published in the Federal Register, with public comments open until October 20. (Decrypt)

Hyperliquid is in talks with Kraken's parent company regarding entry into the U.S. market

Odaily News: According to market sources, Hyperliquid is in discussions with Kraken's parent company about entering the U.S. market.

September 1 Key Focus: Multiple Macroeconomic Data Releases and Remarks from Fed Officials

Today will see the release of China’s manufacturing PMI, the preliminary Eurozone CPI, the U.S. ISM Manufacturing PMI, and JOLTS job openings, among other key macroeconomic data. Federal Reserve official Barr will speak this evening, with markets closely monitoring policy signals.

SEC to Repeal Shareholder Proxy Proposal Rules

According to Bloomberg, the U.S. Securities and Exchange Commission (SEC) plans to repeal rules regarding shareholders of listed companies submitting proxy proposals. The proposal was submitted to the White House Office of Management and Budget (OMB) for review last week.

Kalshi Permanently Bans Former U.S. Rep. George Santos, Marking the Platform’s First-Ever Case

According to The Block, prediction market platform Kalshi announced a permanent ban on former U.S. Representative George Santos, marking the first time the platform has imposed a permanent ban on an individual user. Kalshi's compliance department determined that Santos engaged in prohibited trading in markets related to the State of the Union Address (SOTU)—by publicly announcing whether he would attend two weeks prior to the event, he caused significant price volatility in the associated contracts, constituting suspected market manipulation. Santos was fined over $71,000. Previously, the U.S. Commodity Futures Trading Commission (CFTC) had already filed charges against him regarding the same incident. Santos settled with the CFTC by paying $35,000, without admitting or denying the allegations.

tZERO与 ICE 达成合作协议,共同布局代币化证券市场基础设施

据官方公告,tZERO 集团与洲际交易所(ICE)于 2026年 8月 31 日宣布达成一系列合作协议,共同推进代币化证券市场建设。双方签署谅解备忘录(MOU),tZERO 将作为 ICE 旗下 NYSE 关联数字交易平台的首席设计合作伙伴,负责开发数字转移代理及经纪商-交易商基础设施,以支持代币化证券交易的链上结算。 ICE 同时宣布参与 tZERO 最新一轮融资,并获得 tZERO 区块链专利组合的授权许可,该专利组合涵盖 23 个专利族、103 项专利,覆盖合规转移逻辑、可升级智能合约框架等核心技术。此外,双方还将评估在 ICE 清算所中使用 tZERO 代币化资产进行抵押管理的可能性。

C1 Fund Bets on Polymarket in Q2, Portfolio Expands to 11 Crypto Companies

Odaily News Crypto asset investment fund C1 Fund (NYSE: CFND) has announced its Q2 2026 performance results. As of June 30, the fund's net asset value (NAV) stood at $42.63 million, with a NAV per share of $6.49. The fair value of its investment portfolio was approximately $33.07 million, accounting for 77.5% of net assets.C1 Fund added Polymarket to its holdings in Q2, bringing its total investment portfolio to 11 companies. These span sectors including crypto payments, custody, compliance, staking, exchanges, development infrastructure, and prediction markets. Its two largest exposures are Ripple (17.5% of net assets) and Payward, the parent company of Kraken (16.9%).As of July 31, C1 Fund has repurchased and canceled 249,300 shares of its own stock at a total cost of approximately $824,000. The company is currently authorized to repurchase up to $3 million worth of shares. Management stated that buybacks conducted when the share price falls below NAV help enhance the per-share NAV for remaining shareholders.Additionally, Kraken and Blockchain.com have publicly announced that they have confidentially submitted potential IPO applications to the U.S. SEC; BitGo completed its IPO in January 2026. C1 Fund also revealed that an early partial issuer repurchase by Ripple generated approximately a 150% return on investment for the fund in just over four months. (Businesswire)

Etherscan launches AI tool suite, supporting AI agents to access data from over 60 EVM chains

Odaily News: The suite covers over 60 EVM-compatible chains and provides AI agents with structured, verified, real-time on-chain data access through three methods: MCP, CLI, and Skills. Etherscan MCP supports programming agents like Claude and Codex in querying on-chain information via natural language; the CLI tool outputs results in JSON, table, or CSV format in the terminal and comes with an interactive interface; the Skills module includes built-in features such as Orchestrator, contract auditing, transaction debugging, and workflow orchestration. Etherscan stated that developers can refer to the official documentation to use these tools and can submit feedback or share applications built on top of them.

Russia's largest bank, Sberbank, predicts that first-year crypto trading volume will reach $46.4 billion.

According to The Block, Anatoly Popov, deputy chairman of Russia's largest bank Sberbank, stated that Russia's new cryptocurrency regulations will officially take effect on September 1, 2026, with the volume of regulated crypto transactions expected to reach 4 trillion rubles (approximately $46.4 billion) in the first year, and projected to grow to around 7.5 trillion rubles (approximately $87.1 billion) by 2029.

Sberbank, Russia's largest bank, plans to include ETH and USDT in crypto-backed loans.

According to CoinDesk, Russia’s largest bank, Sberbank, plans to include Ethereum (ETH) and the Tether stablecoin (USDT) in its cryptocurrency collateral lending program, listed alongside Bitcoin (BTC) as acceptable collateral, once regulatory approval is granted. Deputy President Anatoly Popov stated that the bank will gradually expand its accepted asset scope after adapting to Russia’s new cryptocurrency regulations. Last August, the Central Bank of Russia had already placed BTC, ETH, and USDT on a draft list of digital currencies permitted for open trading at domestic exchanges. Sberbank had previously issued Russia’s first bitcoin collateral loan to mining firm Intelion Data last December. Notably, USDT carries additional sanctions risks; Tether can freeze tokens linked to sanctioned entities without a court order, while Sberbank has been subject to U.S. and EU sanctions since 2022. Russia’s new cryptocurrency law will officially take effect on September 1, and market participants must complete their licensing applications by July 2027.