Schlagwort: blockchain regulation

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Nasdaq tokenized shares face key SEC regulatory test

  • Nasdaq plans to place tokenized and traditional securities on the same order book.
  • Settlement would still run through DTCC systems despite blockchain integration.
  • Industry responses are split as regulators assess legal and operational risks.

The US Securities and Exchange Commission has begun a formal review that could determine whether tokenized shares are allowed to trade on Nasdaq, placing blockchain-based securities under close regulatory examination.

By seeking public feedback on Nasdaq’s proposed rule change, the SEC is assessing how digital representations of stocks might fit within existing market structures.

The move reflects growing interest in tokenization across financial markets, while underscoring regulators’ focus on legal certainty, settlement integrity, and investor protection.

Any decision is likely to influence how quickly blockchain technology is adopted within mainstream equity trading.

According to the SEC filing, Nasdaq has asked for approval to list and trade securities in tokenized form.

This step has triggered a broader consultation process covering regulatory, technical, and policy considerations.

The review will determine whether tokenized shares can operate alongside traditional equities without altering core market safeguards.

Regulatory review begins

Under Nasdaq’s proposal, tokenized stocks and exchange-traded products would trade in parallel with conventional shares.

Both formats would appear on the same order book and carry the same shareholder rights.

Clearing and settlement would continue through the Depository Trust and Clearing Corporation, while blockchain technology would be used to improve operational efficiency.

The SEC’s request for feedback signals that no approval is guaranteed.

Instead, regulators are evaluating whether tokenized securities can deliver faster and cheaper settlement without creating new risks.

The consultation marks the start of a deeper assessment rather than a final decision.

How tokenized shares would trade

If approved, Nasdaq’s framework would allow blockchain-based shares to trade just like regular stocks.

Investors would not need separate systems or accounts, as tokenized and traditional securities would coexist within the same trading environment.

Settlement would still rely on DTCC systems, ensuring continuity with current market processes.

Experts argue that this structure preserves investor protections while allowing blockchain to reduce settlement times and operational costs.

The SEC’s review will assess whether these efficiency gains outweigh potential complexities introduced by tokenized record-keeping.

Industry views divided

Market reactions to the proposal have been mixed. Industry groups have voiced support, pointing to the potential for tokenization to enhance market efficiency and modernise post-trade processes.

Regulatory developments elsewhere also suggest increasing openness.

The US Commodity Futures Trading Commission has approved a pilot programme allowing tokenized assets to be used as collateral, indicating broader acceptance of blockchain-based financial instruments.

However, opposition has emerged from firms including Ondo Finance and Cboe Global Markets.

These companies argue that the SEC should delay approval until the DTCC provides clearer guidance on how tokenized trades would be settled.

Their concern centres on the fact that all such transactions would still depend on DTCC infrastructure, making settlement clarity critical.

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Crypto oversight in US tightens as CFTC and FDIC leadership near confirmation

  • Mike Selig is positioned to replace Acting Chair Caroline Pham at the CFTC if confirmed.
  • The CFTC has already expanded crypto oversight through collateral approvals and spot trading permissions.
  • Travis Hill’s confirmation would formalise his interim role at the FDIC and continue crypto-friendly banking policies.

Crypto regulation in the United States is entering a more defined phase as Senate procedures bring key financial watchdog appointments closer to completion.

Two agencies with direct influence over digital assets, the Commodity Futures Trading Commission and the Federal Deposit Insurance Corp., are on the verge of formal leadership changes, as per a CoinDesk report.

President Donald Trump’s nominees to chair both regulators have advanced through the Senate confirmation process, signalling a potential shift in how crypto markets and crypto-linked banking are supervised.

While the final votes have not yet taken place, recent developments suggest that decisions are approaching, narrowing uncertainty around regulatory direction.

Senate clears path for final votes

The Senate moved the process forward on Thursday by approving a resolution that clears the way for final confirmation votes.

The measure passed by a 52–47 margin and applies to a large group of nominees being considered together, reports CoinDesk.

Mike Selig, nominated to lead the CFTC, and Travis Hill, nominated to become chairman of the FDIC, are among the names included.

A spokeswoman for Senate Majority Whip John Barrasso said on X that the final vote is likely early next week, though the chamber remains days away from formally confirming the candidates.

Republicans in the Senate have adopted a strategy of voting on dozens of nominations in batches rather than individually. In this round, lawmakers are deciding on 97 confirmation questions at the same time.

Selig and Hill represent only two of those positions, but both roles carry outsized importance for the crypto sector.

The approach has helped accelerate confirmations but has also compressed scrutiny of individual nominees.

CFTC positions itself as crypto regulator

Selig currently serves as a senior official at the Securities and Exchange Commission, where he has been working on crypto-related issues.

If confirmed, he would replace Acting Chair Caroline Pham, who has guided the CFTC through a series of initiatives seen as supportive of digital asset markets.

Under Pham’s leadership, the CFTC has positioned itself as an active player in crypto supervision, even as Congress continues to debate broader market structure legislation.

The agency is widely expected to take a leading role in crypto oversight if lawmakers eventually pass a bill that formally assigns authority.

Even without new legislation, the CFTC has already expanded its reach.

It has created a CEO council to advise on policy matters, approved the use of Bitcoin BTC $92,157.53, Ether ETH $3,237.28, and USDC, along with other payment stablecoins as collateral, and allowed registered firms to offer spot crypto trading services.

These steps have embedded crypto more deeply into regulated financial activity.

FDIC banking stance comes into focus

At the FDIC, Hill has already been serving as interim chief, meaning his confirmation would formalise an existing role rather than introduce new leadership, notes CoinDesk.

During his interim tenure, Hill has pursued policies that indicate a more accommodating stance toward crypto banking.

This includes engagement with banks that provide services to digital asset firms, an area that has previously faced uncertainty due to regulatory caution.

Oversight framework begins to align

Together, the pending confirmations point toward a more coordinated regulatory environment for crypto in the US.

With leadership at both the CFTC and FDIC close to being finalised, oversight of crypto markets and crypto-related banking may soon operate under clearer and more consistent supervision.

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Satoshi Nakamoto statue arrives at NYSE in major crypto culture shift

  • Satoshi Nakamoto statue arrives at NYSE, marking crypto’s growing Wall Street acceptance.
  • Artwork joins global series as Bitcoin’s history and mainstream adoption gain symbolic recognition.
  • Institutional embrace of Bitcoin accelerates as public entities hold over 3.7M BTC.

The New York Stock Exchange has become the latest home for Valentina Picozzi’s “disappearing” Satoshi Nakamoto statue, signalling how far digital assets have travelled since the time when crypto was treated as unwelcome on Wall Street.

The arrival of the piece was announced in an X post on Wednesday, positioning the NYSE as shared ground for traditional finance and emerging decentralised systems.

The installation also aligns with the anniversary of the Bitcoin mailing list, launched on 10 December 2008, adding symbolic weight to a moment that highlights Bitcoin’s shift from niche idea to mainstream fixture.

NYSE installation

The statue was brought to the NYSE by Bitcoin company Twenty One Capital, which began trading this week.

The artwork itself is by Picozzi, who has been developing her “disappearing” Satoshi series under her Satoshigallery handle.

The New York installation is the sixth piece in a global project she plans to expand to 21 locations.

Her post on X described the placement at such a prominent financial centre as a milestone for the ongoing series.

The display at the NYSE contrasts sharply with the period when crypto was considered taboo across Wall Street.

Bitcoin’s long path

The statue’s arrival coincides with a key date in Bitcoin’s history, falling close to the anniversary of the Bitcoin mailing list launched by Satoshi Nakamoto on 10 December 2008.

Nakamoto mined the genesis block on 3 January 2009, creating the first 50 Bitcoins and setting the foundation for the wider industry.

More than a year after that, on 22 May 2010, Laszlo Hanyecz made the first documented Bitcoin purchase, spending 10,000 Bitcoin to buy two Papa John’s pizzas.

In the years that followed, the asset faced significant resistance.

Institutions and banks kept their distance, and governments attempted to restrict crypto activity through actions widely described as part of Operation Chokepoint 2.0.

Even high-profile sceptics in global finance dismissed the technology before eventually revising their positions.

Institutional shift

The landscape began to change when major financial figures, such as BlackRock’s Larry Fink, shifted from doubt to active interest.

Wall Street institutions moved quickly, increasing participation through exchange-traded funds and direct Bitcoin purchases for corporate treasuries.

Public companies, private companies, countries, and ETFs now hold more than 3.7 million Bitcoin collectively, according to Bitbo.

The total value exceeds 336 billion dollars, showing how deeply Bitcoin has entered mainstream portfolios.

Against this backdrop, the installation at the NYSE serves as a visible marker of how crypto has become integrated into financial culture instead of remaining an outsider technology.

Global statue project

Picozzi’s work has taken the Nakamoto figure to five other locations: Switzerland, El Salvador, Japan, Vietnam, and Miami, Florida.

The collection is intended to reach 21 statues worldwide, a nod to Bitcoin’s capped supply of 21 million tokens.

Her design centres on the idea of disappearance, with the figure positioned as if fading into its surroundings.

The artwork depicts Nakamoto as a hacker in a familiar seated pose, laptop open, representing both the anonymity of Bitcoin’s creator and the programmers who built the broader ecosystem.

The NYSE installation marks the latest step in Picozzi’s effort to trace Bitcoin’s cultural footprint through public art, linking major global locations with the technology’s origins and evolution.

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Argentina moves to reshape crypto rules as banks prepare for Bitcoin services

  • A new framework would allow trading, custody, and approved coins.
  • Banks must follow strict KYC, AML, and CNV regulations.
  • High inflation has pushed people toward Bitcoin and stablecoins.

Argentina is preparing for a major shift in how its financial system treats digital assets, with regulators working on a plan that could allow banks to offer Bitcoin and other crypto services for the first time in three years.

The move marks a notable shift for a country where crypto has become a day-to-day tool for people trying to manage inflation, and it signals a wider effort to bring informal crypto activity into regulated channels.

The change remains under review, but internal planning shows that Argentina wants its banking system to play a formal role in crypto access, custody, and compliance.

Banks and crypto rules evolve

Argentina’s central bank, the Banco Central de la República Argentina, has restricted banks from handling crypto since May 2022.

The regulation was designed to contain financial risks and prevent money-laundering activity during a period of economic instability.

The policy now sits at the centre of a broader reassessment of how digital assets fit into a financial system that is struggling with persistent inflation and rising demand for stable alternatives.

Since December 2023, the arrival of President Javier Milei has reshaped the conversation.

His administration has promoted financial freedom, arguing that people should be able to choose different forms of money, including Bitcoin.

This shift has influenced how regulators approach the current ban and has accelerated work on a new framework.

New framework plans grow

Reports indicate that the central bank is developing a system that would permit banks to integrate crypto into their services.

The plan includes trading access, custody options, and a list of approved coins, limited to assets such as BTC, ETH, USDC, USDT, and XRP.

Banks would need to comply with strict rules under the CNV, follow enhanced KYC and AML procedures, and operate crypto activities through legally separate units with additional capital, security, and liquidity requirements.

The approach represents a transition from prohibition to controlled participation.

Argentina would be one of the first inflation-hit economies to regulate crypto within mainstream banking rather than leaving it to informal platforms.

The change also aims to reduce regulatory gaps and improve transparency across transactions that citizens already rely on to protect their savings.

Inflation pressures fuel demand

Crypto adoption has grown rapidly in Argentina over the past three years as households look for ways to preserve value.

With inflation reaching 1,427% in 2023 and still rising more than 2% each month, people have turned to Bitcoin and dollar-linked stablecoins to manage daily expenses, store money, and avoid exposure to the peso’s depreciation.

Regulators now want this activity to operate under formal safeguards.

Allowing banks to support crypto services would offer a safer environment, limit the use of unregulated exchanges, and help authorities strengthen financial monitoring.

It would also create a more structured relationship between digital assets and traditional banks during a period of economic stress.

Timeline points to 2026

Although approval is not final, experts suggest that the updated rules could be ready around April 2026. Work on the technical structure is already underway.

If the proposal moves forward, Argentina could become a key example of how a country facing extreme inflation integrates crypto into conventional financial channels.

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UK recognises crypto as property in major digital asset shift

  • UK law now formally recognises cryptocurrencies as personal property under new legislation.
  • The Property Digital Assets Act gives courts clearer rules for ownership and asset recovery.
  • Rising crypto adoption pushed the UK to strengthen legal clarity for digital asset rights.

The UK has made a major change to how digital assets are treated in law, confirming that cryptocurrencies and other electronic tokens qualify as personal property.

The update became official when the Property Digital Assets Bill received royal assent in the House of Lords this week, with Lord Speaker John McFall announcing that King Charles had formally approved it.

The move arrives as crypto adoption continues to rise across the country and as courts have been settling digital asset disputes without a clear statutory framework.

By writing this principle into legislation, the UK aims to reduce uncertainty for users when proving ownership, recovering stolen assets, or handling digital holdings during insolvency or estate processes.

UK gives digital assets a clear legal status

Until now, UK courts recognised crypto as property only through common law, meaning judges reached conclusions based on earlier rulings rather than a specific statute.

The new law follows a 2024 recommendation from the Law Commission of England and Wales, which said that digital assets should be treated as a new form of personal property because they do not fit neatly into existing categories.

Personal property in the UK traditionally falls into two groups: a “thing in possession,” which refers to physical items, and a “thing in action,” which refers to enforceable rights such as debts or contracts.

Digital assets sit between these definitions.

They exist electronically, can be transferred like possessions, and are used in financial systems, yet they do not align perfectly with one category.

The bill clarifies that digital or electronic items can still be recognised as property even if they are neither a physical object nor an enforceable claim.

The Law Commission warned that the unclear fit of digital assets could complicate court decisions, especially when resolving disputes involving ownership or loss.

Growing adoption pushes the UK toward stronger rules

The new legislation forms part of a wider push to build a structured framework for digital assets.

The goal is to strengthen consumer protection while encouraging innovation in digital finance.

Adoption continues to expand. Late last year, the financial regulator reported that roughly 12% of UK adults hold cryptocurrency, up from 10% in its previous findings.

The rise signals that more users are engaging with digital assets, making legal clarity an essential part of future policy planning.

By recognising crypto as personal property and preparing broader regulations, the UK is aiming to support the digital economy while giving users a firmer understanding of their rights.

The shift is expected to shape future industry practices and improve how courts interpret disputes involving blockchain-based assets.

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