Policy

Policy coverage from the StreamSage Policy desk. Sources on every story. Page 9.

• Google avoids forced AdX breakup in antitrust case

  A federal judge rejected the DOJ's bid to sell the ad exchange, accepting behavioral remedies instead.

• Tether sued over early freeze of $42.4 million USDT

  Thai businessmen claim Tether blocked tokens on informal request, months before a U.S. seizure warrant was issued.

• Buying memecoins with credit cards on Robinhood Wallet and Fomo appears to sidestep card network crypto rules

  The Block reported that buying specific memecoins on Fomo and Robinhood Wallet allows users to bypass standard card network rules for cryptocurrency purchases.

• HMRC reports £1.38B in UK crypto gains with 240 holding half

  17,600 individuals filed £1.38B in capital gains, while 240 investors accounted for £717M and total disposals reached £13.8B.

• US collaborates with Venezuela interim government on conditional oil deal

  Following Maduro's ouster, Washington is working with interim President Delcy Rodriguez, with relations subject to numerous conditions set by Trump.

• Ninth Circuit rules Kalshi sports contracts are not swaps

  The August 28 ruling creates a circuit split with the Third Circuit over the Commodity Exchange Act definition of a swap.

• Chopra-led California agency launches enforcement orders

  The new Business and Consumer Services Agency issued early orders requiring broker-dealers to return $1.3 million and securing $7 million in restitution.

• Connecticut sues Kalshi over sports event contracts

  The lawsuit escalates a months-long dispute over whether federal CFTC preemption blocks state gambling laws.

• SEC sends crypto custody rule concept to White House for review

  The agency is revisiting its failed 2023 proposal after the Small Business Administration warned it would hurt smaller investment advisers.

• Meta settles child-safety lawsuit for $18 billion

  Meta has agreed to an $18 billion settlement with state officials, resolving a lawsuit over child safety on its platforms.

• SEC sends crypto custody rule changes to White House

  The SEC sent proposed changes to its custody rules for digital assets to the Office of Information and Regulatory Affairs this week.

• Dallas Fed warns tokenized deposits could strip $700 billion from U.S. banks' lending capacity

  Dallas Fed economists estimate tokenized deposits could reduce U.S.

• US Trustee Seeks Examiner for $1.5B EchoStar Hughes Deals

  The US Trustee asked a court to appoint an examiner to investigate $1.5 billion in unusual transactions between EchoStar Corp. and its bankrupt subsidiary.

• Kalshi Asks SEC to Slow Product Launches From Rival Cboe

  PYMNTS reports that Kalshi asked the Securities and Exchange Commission to pause approval of Cboe Global Markets' new binary options contracts.

• Bitcoin Policy UK tells Parliament 40% of transfers blocked

  The group stated that 40% of bank-to-exchange transfers are being blocked in Britain, a figure reported by Bitcoin Magazine.

• Bessent's Iran sanctions drive oil to biggest 3-week drop

  The move sparked de-escalation hopes, but analysts point to China's role as Iran's top buyer as the key variable for sanctions effectiveness.

• Stand With Crypto backs 32 House candidates for midterms

  The PAC is supporting 32 House candidates, while a procedural vote on the Clarity Act is set for September 15.

• Bessent unveils Treasury twist plan to lower long-term yields

  Treasury Secretary Scott Bessent announced a buyback of long-term US debt funded by short-dated securities, citing elevated yields.

• Senate sets Sept. 15 cloture vote for CLARITY Act as CFTC hints at fallback

  A 60-vote procedural test is scheduled for the Digital Asset Market Clarity Act while the CFTC signals it may act under existing authority if the bill stalls.

• US-Canada Trade Talks Collapse as 50% Tariffs Take Effect

  Ottawa pledged dollar-for-dollar retaliation after negotiations failed, according to Bloomberg News.