DOJ Enforcement?
We’re making today’s post free for all readers on Substack, happy reading!
The latest update on Clarity / Calamity is a series of ethics rules in an effort to pressurize the Democrats into supporting the Trump bill from the President who has made $1.4 billion in recent times alone from the crypto industry, while in office as POTUS 47:
Trump-Backed Crypto Ethics Rule Puts DOJ In Charge Of Enforcement, Prohibits Federal Officials From Issuing Cryptocurrencies: Sources
The Block
White House Pushes Senate Democrats To Take ‘Historic’ Crypto Clarity Act Ethics Deal
CoinDesk
Crypto Clarity Act Still At Mercy Of Ethics Section As Democrats Balk At Trump Deal
CoinDesk
Yesterday we discussed EI 3646: Twelve Reasons Why The CLARITY Act Is the Worst Financial Legislation In Modern American History - former SEC staffer John Reed Stark… and indeed a fortnight ago I outlined why the Clarity / Calamity Bill would struggle (EI 3637: …TLD, the Senate currently 51: 46, with the White House seemingly eager to push/prod or just ram the Clarity / Calamity Act through the Senate but needing at least 9 Democrats to switch sides at a time of growing disillusionment at the corruption of the Trump Presidency.
SPONSORED BY:
Meanwhile, another firm bites the dust as Movement Labs files For Chapter 11 Bankruptcy Months After Token Scandal (CoinDesk) / Popular Crypto Firm Files For Chapter 11 After Token Collapse (Yahoo Finance). In another moderate calamity of crypto, Balance Coin Crashes 99% After Reported $915K Exploit (Cointelegraph).
North of the USA, Crypto Sector Says Canada’s Regulatory Uncertainty Limiting Domestic Innovation (BetaKit) as Coinbase Global Has Big Plans For The Canadian Market (Yahoo Finance).
Back to DC, US Seeks Forfeiture Of $25 Million In Crypto Tied To Global Fraud Investigations (The Block).
The news from Moscow remains positive as the Diet moves legislation forward: Russia Passes Landmark Crypto Bill Allowing Regulated Retail Trading (The Block) and with it comes a compliance deadline as Russia Gives Crypto Firms Until July 2027 To Obtain Licences Under New Market Rules (Finance Magnates).
Crypto Lobby Group Digital Chamber Sues Illinois To Block Digital Asset Tax (CoinDesk) albeit Illinois is so perilously indebted, it will fight on to tax anything that might offer a scintilla of chance that it can ever balance its budget.
Some regulatory developments, as first,
Pakistan Launches Crypto Investigation Unit To Crack Down On Digital Asset Crimes: Report
CoinDesk
Pakistan Steps Up Crypto Enforcement With Dedicated Federal Unit
Cointelegraph
And then, Vietnam Boosts Crypto Market Oversight Capabilities (Bao VietNamNet) while in Nigeria, concerns as FG Chases Crypto Regulation While $40bn Blockchain Vision Lies Idle (Businessday NG).
Concerned about hacking, Crypto Giant Galaxy Sets Up $5 Million Fund To Future-Proof Bitcoin Security (CoinDesk) while in more blatant criminality, ED Launches Money Laundering Probe Into Alleged USD 35 Million Crypto Scam (The New Indian Express).
An interesting new angle to a well-known app as Telegram Plans ‘Largest Rollout Of A Non-Custodial Crypto Wallet In Human History’ (The Block).
Finally an interesting new product as S&P And Pantera Launch Crypto Index Led By ETH, BNB and SOL (Crypto News).
From our sister publication, EI Weekend:
Exberry Sponsored Segment
Exchange Invest Weekly Podcast
CME Counsel Swap,
Nasdaq’s TransAtlantic Lead,
24*7 Paused?
CME T+2891+ Integration,
& EU Kerfuffles.
AFM Trends Day
Launched at AFM in Taipei, the first AFM Trends Day is coming to Malta on November 13th — watch the launch here.
As AFM members, we agreed last year to expand the recent AFM Tech Days into a broader format. Thus, AFM Trends Day launches this November in the magnificent historic city of Valletta, Malta.
A key theme is simple: how do emerging markets emerge?
Malta is the proof point. In 1970, Malta’s GDP per capita was around $828. Today, World Bank data puts it at $47,906.9 — higher than South Korea and a whisker behind France ($46,103). That is not merely growth. A small jurisdiction has become a high-income European economy and a serious international platform. In the post-war era, it was a net exporter of human capital to Australia, the UK, and elsewhere.
That is why AFM Trends Day will focus on the trends that matter: market structure, clearing resilience, technology, digital assets, sustainability-linked products and the practical choices that build credible markets.
See you in Valletta on November 13th… registration now open.
PLY: Market Movers On FINTECH.TV
Catch me on Market Movers On FINTECH.TV every Monday at 09:20 AM for the latest insights in finance, technology, impact investing, and market trends. FINTECH.TV is available online at FINTECH.TV across multiple US airports.
Finance Book of the Week
“The Business of the FIFA World Cup,” edited by Simon Chadwick, Paul Widdop and Christos Anagnostopoulos, is the first to focus on the business and management of the World Cup, taking the reader from the initial stages of bidding and hosting decisions, through planning and organisation, to the eventual legacies of the competition.
Get the book here.
*Paid link, as an Amazon Associate, Exchange Invest earns from qualifying purchases.
Suggestions welcome if you would like to nominate a book for us to cover!
Our next Book of the Week will be unveiled in next week’s Sunday Supplement.
& don’t forget if you want all the news on the bourse business sent daily to your Inbox subscribe to Exchange Invest — via Exchange Invest.com. It’s only $499 per annum to join “The Exchange of Information.”
If you want to stay abreast of the world of all exchanges then please Subscribe to our Daily Newsletter - free 30 day trial.
 | A guest post by
|