Policy

Policy coverage from the StreamSage Policy desk. Sources on every story. Page 4.

• Reform UK plan cuts crypto gains tax to 10%

  The reported measure would save 240 high-earning investors over £100 million annually, per The Independent.

• Crypto’s first big tax win comes with a catch for stakers and everyday payments

  Crypto tax win leaves staker liability unresolved

• CFTC grants developers relief from broker registration

  The move expands a previous ruling for Phantom into a wider framework for software tools connecting users to regulated derivatives markets.

• FCA Visits Three London Sites in Second P2P Crypto Sweep

  The FCA, HMRC and Met Police issued cease and desist letters at three premises on September 10, with no registered P2P crypto businesses operating in the UK.

• FCA orders traders to shut down three illegal crypto trading hubs in London

  The regulator, acting with police and tax authorities, issued cease-and-desist letters to stop unregistered peer-to-peer businesses.

• SEC roundtable covers 24-hour trading and tokenized securities

  The agency discussed extending market hours to a 24/7 schedule just one hour after approving an exemption for tokenized securities trading.

• Senate fails to advance Clarity Act, U.S. crypto stocks slide 10%

  Coinbase and Circle shares fell 10% after Tuesday's vote, leaving the industry without a federal framework and awaiting SEC and CFTC rulemaking.

• House panel locks in 20-year floor for federal Bitcoin

  The Financial Services Committee cleared the American Reserve Modernization Act with a 28-21 vote, mandating that seized or acquired coins remain frozen for two decades.

• CFTC Issues No-Action Position for Passive Software Providers

  Staff said the move mirrors Staff Letter 26-09 and extends that relief broadly to passive software providers under specified conditions.

• SEC Token Exemption Carries Hard Stop Conditions

  The SEC’s new tokenized stock exemption requires immediate trading halts if the underlying stock stops, a constraint the press release emphasizes.

• Celsius Debtors Sue BitMEX for Over $100 Million

  Celsius debtors claim BitMEX wrongly liquidated a leveraged BTC position during the March 2020 market crash, contradicting CEO statements made the day after.

• House Committee Advances US Bitcoin Reserve Bill on Party-Line Split

  The House Financial Services Committee reported H.R.

• South Korean police charge 26 Polymarket users over $12.7M in bets

  Police cite Criminal Act Article 246 to treat order-book event contracts as illegal gambling, while users argue the platform is a derivatives market.

• Clarity Act Cloture Fails as House Cancels Votes Before Recess

  Coinbase shares fell about 7% after the bill stalled, with industry leaders saying the SEC and CFTC will now take the lead on digital asset rules.

• XRP Drops 8% as Senate Blocks CLARITY Act Progress

  Cumulative ETF inflows for XRP stand at $1.71 billion, a figure the market is now testing against the regulatory setback.

• House Committee Advances First-Ever Crypto Tax Bill

  The Digital Asset Tax Certainty Act cleared the Ways and Means Committee 38 to 5 on Wednesday, setting up a post-election path through the House.

• UK AML Shift Targets Crypto Networks With £500M Investment

  New strategy deploys 500 officers and expands FCA oversight to 60,000 firms to disrupt tech-enabled illicit finance infrastructure.

• US Charges Five Over Alleged Russian Assassination Plot

  The Justice Department unsealed charges against five individuals linked to Russian intelligence services.

• Celsius estate pursues $495 million BitMEX claim before trading ends

  The complaint targets a leveraged long contradicting delta-neutral claims, filed 11 days before BitMEX stops trading.

• House panel advances first federal crypto tax framework

  The Digital Asset Tax Certainty Act passed 38-5, exempting fees under $10, as the Senate’s Clarity Act failed.