CFTC Denies Kalshi’s Plan to Let Users Bet on Control of U.S. Congress
Regulators said the plans weren’t in the public interest, after a court squabble involving rival service PredictIt
Policy
Sam Bankman-Fried Sort of Had a Rough Day
Yesterday was arguably not a great day for Sam Bankman-Fried. First, the judge overseeing his case rejected all seven of his proposed expert witnesses*, questioning at least one’s qualifications and saying some others really wouldn’t be relevant to the case.
Binance, U.S. Affiliate, Changpeng ‘CZ’ Zhao File to Dismiss SEC Lawsuit
Binance, Binance.US and Changpeng Zhao filed to dismiss a Securities and Exchange Commission (SEC) lawsuit Thursday, claiming the regulator hadn’t “plausibly alleged” various securities-related violations.
Sam Bankman-Fried Will Remain in Jail Through the Start of His Trial
An appeals court rejected his attorneys’ attempt to free him in the run-up to the trial.
Judge Blocks Sam Bankman-Fried’s Proposed Witnesses From Testifying
Judge Lewis Kaplan, who’s overseeing Sam Bankman-Fried’s trial, granted the U.S. Department of Justice’s motion to block all of the FTX founder’s proposed witnesses from testifying at his trial next month.
Ex-Senator Who Once Shepherded Crypto Legislation Sees No Path in Current Congress
Former U.S. Sen. Pat Toomey, who tried and failed to push his own crypto legislation through Congress before leaving at the start of the year, can’t see how the current Senate will have any better luck, despite recent progress in the House of Representatives.
Vivek Ramaswamy is Drafting a ‘Crypto Policy Framework’
Republican presidential candidate Vivek Ramaswamy will release a crypto policy paper.
U.S. CBDC Efforts Opposed in Legislation Advanced by House Republicans
A crypto-related bill meant to stifle a future U.S. central bank digital currency is now heading toward consideration on the floor of the U.S. House of Representatives after committee approval Wednesday, marking further progress for digital assets legislation in Congress.
U.S. SEC’s Crypto Enforcement Chief Warns More Charges Coming to Exchanges, DeFi
The U.S. Securities and Exchange Commission (SEC) isn’t done chasing down crypto exchanges and decentralized finance (DeFi) projects it sees as violating securities laws in the same vein as Coinbase Inc. (COIN) and Binance, said David Hirsch, head of the agency’s Crypto Assets and Cyber Unit.
Crypto Wants a De Minimis Tax Exemption in the U.S.
The leaders of the Senate Finance Committee, Sens. Ron Wyden (D-Ore.) and Mike Crapo (R-Idaho) published an open letter in July asking the crypto industry to weigh in on crypto tax issues, including loans, staking, mining, constructive sales and wash trading. These comments were due earlier this month.