Key facts
- The SEC has postponed a planned meeting on crypto rulemaking and an innovation exemption.
- The postponement is reportedly linked to concerns surrounding the Digital Asset Market Clarity Act.
- Galaxy Research has reduced its odds for the CLARITY Act's passage to 10%.
- Factors hindering the CLARITY Act include ethics provisions and lobbying from community banks.
- President Trump is expected to meet with crypto industry CEOs this week.
- The CFTC's Innovation Advisory Committee will discuss crypto's regulatory evolution.
The U.S. Securities and Exchange Commission (SEC) has postponed a planned meeting that was set to discuss its proposed crypto rulemaking and unveil a long-delayed innovation exemption. This cancellation is reportedly linked to concerns surrounding the Digital Asset Market Clarity Act, which has faced significant political headwinds.
Galaxy Research has drastically reduced its odds for the CLARITY Act's passage to 10%, citing Senate calendar constraints, unresolved ethics provisions regarding government officials' crypto holdings, and intensified lobbying from community banks over stablecoin yield provisions. These factors have stalled the bill's momentum.
Meanwhile, President Trump is expected to meet with CEOs from the crypto, prediction market, and AI sectors this week. This gathering precedes the inaugural meeting of the CFTC’s new Innovation Advisory Committee, which will include a panel titled “Crypto’s Regulatory Evolution: From Uncertainty to Clarity.” The committee's members include executives from major crypto firms like Coinbase and Ripple, as well as traditional finance players such as CME Group and Nasdaq.
In market news, crypto majors were slightly down on the week after an overnight reversal, with Bitcoin trading around $63.5k and Ethereum at $1,900. Bitcoin ETFs saw net outflows on Friday. Separately, SafePal disclosed a data breach exposing approximately 40,000 customers' details. Israel's largest bank, Leumi, launched Bitcoin and Ethereum trading, and Paul Tudor Jones' firm increased its stake in BlackRock's Bitcoin ETF.