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Some crypto asset issuances may be exempt from SEC registration; SEC formally proposes Regulation Crypto Assets
Odaily News: Fox Business crypto reporter posted on X platform that the U.S. Securities and Exchange Commission (SEC) has formally proposed Regulation Crypto Assets, establishing a new framework for crypto asset fundraising in the United States. The proposal would allow certain issuances to raise up to $5 million cumulatively over four years or up to $75 million annually without SEC registration; establish a conditional safe harbor for crypto assets after key management responsibilities of the issuer conclude; and exempt relevant issuances from certain state securities registration requirements. The proposal has now entered a 60-day comment period.
SEC Tokenization Innovation Exemption Further Delayed, Details Not Yet Disclosed
Odaily Odaily News: Fox Business crypto reporter posted on X platform, stating that according to a source familiar with the matter, the U.S. Securities and Exchange Commission's tokenization innovation exemption will be further delayed, and relevant details will remain undisclosed for now. The source noted that one possible reason is that the tokenization provisions in Section 10505 of the Clarity Act have been under repeated consultation among stakeholders, and any action taken by the SEC through the innovation exemption could affect the compromise plan for those provisions. This means that until the path forward for the Clarity Act becomes clearer, the exemption may remain on hold. The SEC still plans to hold a public meeting at 10 a.m. tomorrow, during which it intends to propose new rules and exemptions for fundraising transactions involving crypto assets, namely Regulation Crypto Assets.
The bill outlines rules for handling digital assets in the event of an exchange or custodian bankruptcy
Fox Business crypto journalist posted on platform X, stating that the bill specifies the rules for handling digital assets when an exchange or custodian becomes insolvent. This legislation helps ensure customer assets receive the same protections as traditional financial assets and remain the property of the customers, rather than becoming part of the company's bankruptcy estate. This could help prevent a repeat of situations like FTX.
a16z Leads Special’s Funding Round; Former DOGE Team Bets on AI-Driven M&A Cost Reduction
According to Tech in Asia, Special, an AI-powered M&A firm co-founded by Nate Cavanaugh and Justin Fox—both former staff members of the U.S. government’s Department of Government Efficiency (DOGE)—has announced a funding round of undisclosed amount, led by Andreessen Horowitz (a16z). Investors include Antonio Gracias, founder of Valor Equity Partners; Anthony Armstrong, former CFO of xAI; Brian Armstrong, CEO of Coinbase Global; and Shyam Sankar, CTO of Palantir Technologies. Special plans to acquire service-based businesses by automating workflows with AI to reduce costs, and has already reached an agreement to acquire a Texas-based healthcare company, which will be integrated into Figure Health—the company’s business line focused on aging populations.
With less than 24 hours until the Senate's first major test, Democrats are expected to discuss Clarity Act strategy tonight
According to an Odaily report, a Fox Business crypto reporter posted on X that Senate Democrats are expected to meet tonight to discuss Clarity Act strategy and coordinate a counterproposal to the text Republicans released last night, even though Republicans insist that the text is their "last, best, and final" offer. The bill will face its first major test on the Senate floor in less than 24 hours.
US House Republican Whip Emmer: Concerned that BRCA amendments will eliminate criminal liability safe harbor
Odaily News: A Fox Business crypto reporter posted on X that US House Republican Whip Emmer told Kristin Smith at the Solana Institute summit that he is concerned about the amendments to the BRCA. Emmer said: "I don't like the fact that you've essentially given up the safe harbor on the criminal liability side. I do worry that local district attorneys will generally turn it more into a weaponized tool." Emmer was the original proposer of the BRCA and first introduced the bill in the House in 2018.
US Senate Republicans release new version of Clarity Act text, incorporating ethics proposal agreed to by Trump
Odaily report: A Fox Business crypto reporter posted on X that U.S. Senate Republicans have released a new version of the "Clarity Act" text, which incorporates a revised ethics proposal agreed to by Trump and adjusts provisions related to the "Blockchain Regulatory Certainty Act," stablecoin yield, and the so-called "Ag" section. Republicans called this their "last, best, and final" offer to Democrats ahead of Tuesday's vote to end debate proceedings.The new text narrows the scope of the "Blockchain Regulatory Certainty Act" to the Bank Secrecy Act and civil enforcement, and removes specific language extending related protections to criminal cases, including prosecutions under Section 1960. The ethics proposal includes requiring Trump to sell "substantial" crypto-related financial interests or place them in a blind trust, and allows state attorneys general to enforce the ethics provisions; the stablecoin yield clause adds a "circuit breaker" mechanism, under which federal regulators can intervene if there is evidence of large-scale flows from community bank deposits into stablecoins, with Treasury Secretary Scott Bessent serving as the adjudicator.The "Ag" section adds new restrictions on vertical integration, including related-party transactions and conflicts of interest involving digital commodity exchanges, brokers, and dealers, and clarifies that state consumer protection laws still apply; the developer protection clause will not constitute an exemption from derivatives law, nor will it affect prediction markets.
Non-decentralized DeFi protocols will need to register with the CFTC, U.S. Senate Republicans release updated CLARITY Act text
Odaily reports: A Fox Business crypto reporter posted on X that U.S. Senate Republicans have released an updated text of the CLARITY Act following negotiations during the August recess. The ethics section appears unchanged, and the BRCA and stablecoin yield sections also remain the same. The updates include: requiring non-decentralized DeFi protocols to register with the U.S. Commodity Futures Trading Commission; limiting DeFi provisions to spot or cash digital commodity transactions, seemingly aimed at addressing tribes' concerns about blockchain-based prediction markets; and clarifying the authority of credit unions to conduct cryptocurrency business.
OCC and FDIC Move to Clarify Bank Regulatory Rules, Linking Practices to Illegal Conduct or Significant Financial Risk
Odaily News: Fox Business crypto reporter stated on the X platform that the U.S. Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation are advancing toward finalizing a rule to define "unsafe or unsound practices" in bank regulation. The term has remained loosely defined for years, relying largely on the broad discretion of bank examiners. Under the rule, regulators must tie determinations that a practice is "unsafe or unsound" to actual violations of law or significant financial risk, thereby reducing the likelihood of pressuring banks—including those serving legitimate clients such as crypto companies—over vague reputational or procedural concerns. The rule marks another important step toward dismantling "Operation Choke Point 2.0."
SEC Tokenization Innovation Exemption Further Delayed, Details Not Yet Disclosed
Odaily Odaily News: Fox Business crypto reporter posted on X platform, stating that according to a source familiar with the matter, the U.S. Securities and Exchange Commission's tokenization innovation exemption will be further delayed, and relevant details will remain undisclosed for now. The source noted that one possible reason is that the tokenization provisions in Section 10505 of the Clarity Act have been under repeated consultation among stakeholders, and any action taken by the SEC through the innovation exemption could affect the compromise plan for those provisions. This means that until the path forward for the Clarity Act becomes clearer, the exemption may remain on hold. The SEC still plans to hold a public meeting at 10 a.m. tomorrow, during which it intends to propose new rules and exemptions for fundraising transactions involving crypto assets, namely Regulation Crypto Assets.
AmericasCUs Supports Majority of Clarity Act, Calls for Strengthening Stablecoin Yield Provisions
Fox Business crypto journalist posted on X that former NCUA Chairman Rodney Hood stated last week that credit unions play an important role in modernizing the financial system. A few days later, AmericasCUs, along with credit union leagues in all 50 U.S. states, supported the vast majority of the Clarity Act. However, they echoed the banking industry's concerns regarding the bill's stablecoin yield provisions, urging senators to strengthen the language. These groups believe that the current Tillis-Alsobrooks compromise could still allow for "functionally passive" reward structures, potentially causing deposits to flow out of local credit unions.
U.S. FBI Joins Forces with Multiple Countries to Dismantle Several “Pig Butchering” Cryptocurrency Fraud Networks, Arresting 276 Suspects
According to Fox News, the U.S. Federal Bureau of Investigation (FBI), in collaboration with law enforcement agencies in Dubai, China, and Thailand, conducted a large-scale multinational joint operation that successfully dismantled at least nine overseas cryptocurrency scam centers and arrested 276 suspects, involving millions of dollars in illicit funds. In this operation, the U.S. District Court for the Southern District of California filed federal charges of wire fraud and money laundering against six suspects. Those charged include nationals from Myanmar and Indonesia, who operated scam organizations under names such as “Sanduo Group” and “Giant Company.” Dubai police arrested 275 suspects, while the Royal Thai Police apprehended one additional fugitive. These scam networks employed the “pig-butchering” scheme—building fake friendships or romantic relationships to gain victims’ trust, then luring them into transferring funds to fraudulent cryptocurrency investment platforms, after which the proceeds were laundered and transferred to criminal accounts. This operation aligns with the executive order signed by Trump on March 6, 2026, aimed at combating overseas criminal networks that exploit U.S. citizens. The FBI’s dedicated initiative, “Operation Level Up,” has notified approximately 9,000 victims and recovered roughly $562 million in losses for U.S. citizens. The FBI urges victims to report incidents through the Internet Crime Complaint Center (IC3).
Non-decentralized DeFi protocols will need to register with the CFTC, U.S. Senate Republicans release updated CLARITY Act text
Odaily reports: A Fox Business crypto reporter posted on X that U.S. Senate Republicans have released an updated text of the CLARITY Act following negotiations during the August recess. The ethics section appears unchanged, and the BRCA and stablecoin yield sections also remain the same. The updates include: requiring non-decentralized DeFi protocols to register with the U.S. Commodity Futures Trading Commission; limiting DeFi provisions to spot or cash digital commodity transactions, seemingly aimed at addressing tribes' concerns about blockchain-based prediction markets; and clarifying the authority of credit unions to conduct cryptocurrency business.
Recognizing digital assets' potential to drive economic growth, G20 commits to a clear path for responsible innovation
Odaily News: Fox Business crypto correspondent posted on X platform, stating that the G20 Chair's Statement released today by @SecScottBessent mentions digital assets. Finance ministers and central bank governors from the world's 20 largest economies recognized the potential of digital assets to support economic growth and committed to establishing a "clear path" for responsible innovation.The statement also called for improvements to cross-border payments, including extending the operating hours of systems used by banks and central banks for processing large-value or time-sensitive payments, promoting broader adoption of ISO 20022 — the global messaging standard used by banks — and simplifying the process for cross-border transfers of financial services data.Additionally, G20 members are awaiting the release of the Financial Stability Board's research findings on the cross-border impact of global stablecoins.
NVIDIA CEO Jensen Huang: AI Will Create Hundreds of Thousands of New Jobs, Driving Explosive Growth in Demand for Skilled Trades Workers
According to Fortune, NVIDIA CEO Jensen Huang stated in an interview with Fox Business that the AI wave will not destroy jobs but instead create hundreds of thousands of new positions. He specifically noted that with the massive construction of infrastructure such as semiconductor fabs and AI data centers, trades like electricians, plumbers, and technicians will see a surge in demand. Huang predicted this will be the "largest infrastructure buildout in human history." NVIDIA has already committed to providing up to $105 billion in financial support for a new OpenAI data center in Ohio. However, the U.S. faces a severe shortage of skilled trades workers, with an estimated 2.1 million trade positions expected to remain vacant by 2030. In response, Blackstone, Ford, Google, and other companies have jointly launched the "U.S. Skilled Trades Alliance," aiming to expand skills training across 30 states nationwide.
Trump plans to deploy $400 million in super PAC funds to support Republican candidates in the midterm elections
Odaily News: Citing sources, Fox News reporter Aishah Hasnie revealed that Trump will begin tapping into approximately $400 million from his personal super political action committee "MAGA Inc" to support Republicans facing competitive races in the November midterm elections this year.
BlockchainAssn Files Amicus Brief Supporting Custodia, Urging Supreme Court to Review Federal Reserve Master Account Discretion
: Fox Business crypto reporter posted on X that BlockchainAssn, a crypto industry organization, has filed an amicus brief supporting Custodia Bank's petition to the U.S. Supreme Court, urging the Court to review whether regional Federal Reserve banks have the authority to deny eligible state-chartered banks access to master accounts. The organization warned that lower court rulings in favor of the Federal Reserve grant the central bank broad power to disqualify industries or companies it does not recognize from accessing banking services, effectively determining which state-chartered banks are permitted to operate. Meanwhile, the Federal Reserve Bank of Kansas City has been granted an extension until September 11 to respond to Custodia's petition.
Registered funds can use on-chain money market fund FOBXX to manage cash; SEC Division of Investment Management issues no-action letter to FTDA_US
Odaily News: Fox Business crypto reporter posted on X platform that the Securities and Exchange Commission's Division of Investment Management has issued a no-action letter to FTDA_US, allowing its registered funds to use Franklin Templeton's on-chain money market fund FOBXX to manage cash, including securities lending collateral. The exemption allows Franklin Templeton to custody these fund shares and record ownership through its blockchain-integrated system, without needing to comply with certain traditional rules established for physical securities. Franklin Templeton stated that this structure supports intraday trading, hourly net asset value calculations, and faster transaction processing.
Related news
With less than 24 hours until the Senate's first major test, Democrats are expected to discuss Clarity Act strategy tonight
According to an Odaily report, a Fox Business crypto reporter posted on X that Senate Democrats are expected to meet tonight to discuss Clarity Act strategy and coordinate a counterproposal to the text Republicans released last night, even though Republicans insist that the text is their "last, best, and final" offer. The bill will face its first major test on the Senate floor in less than 24 hours.
US House Republican Whip Emmer: Concerned that BRCA amendments will eliminate criminal liability safe harbor
Odaily News: A Fox Business crypto reporter posted on X that US House Republican Whip Emmer told Kristin Smith at the Solana Institute summit that he is concerned about the amendments to the BRCA. Emmer said: "I don't like the fact that you've essentially given up the safe harbor on the criminal liability side. I do worry that local district attorneys will generally turn it more into a weaponized tool." Emmer was the original proposer of the BRCA and first introduced the bill in the House in 2018.
US Senate Republicans release new version of Clarity Act text, incorporating ethics proposal agreed to by Trump
Odaily report: A Fox Business crypto reporter posted on X that U.S. Senate Republicans have released a new version of the "Clarity Act" text, which incorporates a revised ethics proposal agreed to by Trump and adjusts provisions related to the "Blockchain Regulatory Certainty Act," stablecoin yield, and the so-called "Ag" section. Republicans called this their "last, best, and final" offer to Democrats ahead of Tuesday's vote to end debate proceedings.The new text narrows the scope of the "Blockchain Regulatory Certainty Act" to the Bank Secrecy Act and civil enforcement, and removes specific language extending related protections to criminal cases, including prosecutions under Section 1960. The ethics proposal includes requiring Trump to sell "substantial" crypto-related financial interests or place them in a blind trust, and allows state attorneys general to enforce the ethics provisions; the stablecoin yield clause adds a "circuit breaker" mechanism, under which federal regulators can intervene if there is evidence of large-scale flows from community bank deposits into stablecoins, with Treasury Secretary Scott Bessent serving as the adjudicator.The "Ag" section adds new restrictions on vertical integration, including related-party transactions and conflicts of interest involving digital commodity exchanges, brokers, and dealers, and clarifies that state consumer protection laws still apply; the developer protection clause will not constitute an exemption from derivatives law, nor will it affect prediction markets.
Non-decentralized DeFi protocols will need to register with the CFTC, U.S. Senate Republicans release updated CLARITY Act text
Odaily reports: A Fox Business crypto reporter posted on X that U.S. Senate Republicans have released an updated text of the CLARITY Act following negotiations during the August recess. The ethics section appears unchanged, and the BRCA and stablecoin yield sections also remain the same. The updates include: requiring non-decentralized DeFi protocols to register with the U.S. Commodity Futures Trading Commission; limiting DeFi provisions to spot or cash digital commodity transactions, seemingly aimed at addressing tribes' concerns about blockchain-based prediction markets; and clarifying the authority of credit unions to conduct cryptocurrency business.
Recognizing digital assets' potential to drive economic growth, G20 commits to a clear path for responsible innovation
Odaily News: Fox Business crypto correspondent posted on X platform, stating that the G20 Chair's Statement released today by @SecScottBessent mentions digital assets. Finance ministers and central bank governors from the world's 20 largest economies recognized the potential of digital assets to support economic growth and committed to establishing a "clear path" for responsible innovation.The statement also called for improvements to cross-border payments, including extending the operating hours of systems used by banks and central banks for processing large-value or time-sensitive payments, promoting broader adoption of ISO 20022 — the global messaging standard used by banks — and simplifying the process for cross-border transfers of financial services data.Additionally, G20 members are awaiting the release of the Financial Stability Board's research findings on the cross-border impact of global stablecoins.
NVIDIA CEO Jensen Huang: AI Will Create Hundreds of Thousands of New Jobs, Driving Explosive Growth in Demand for Skilled Trades Workers
According to Fortune, NVIDIA CEO Jensen Huang stated in an interview with Fox Business that the AI wave will not destroy jobs but instead create hundreds of thousands of new positions. He specifically noted that with the massive construction of infrastructure such as semiconductor fabs and AI data centers, trades like electricians, plumbers, and technicians will see a surge in demand. Huang predicted this will be the "largest infrastructure buildout in human history." NVIDIA has already committed to providing up to $105 billion in financial support for a new OpenAI data center in Ohio. However, the U.S. faces a severe shortage of skilled trades workers, with an estimated 2.1 million trade positions expected to remain vacant by 2030. In response, Blackstone, Ford, Google, and other companies have jointly launched the "U.S. Skilled Trades Alliance," aiming to expand skills training across 30 states nationwide.