The Securities and Exchange Commission could be emerging victorious in the race to secure the leading role in regulating stablecoins. Additional clarity on the demarcation of regulatory mandates between the SEC, Article Futures Trading Commission and the Treasury Section could come from the President'southward Working Group for Fiscal Markets' (PWG) written report that was expected past the end of October but failed to arrive before the end of last week. The mandate to regulate cryptocurrency in the The states remains dispersed across a host of actors, and a single PWG report will not remedy this one time and for all. All the same, having major government actors draw the lines amidst each other would be valuable.

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Stable-value coins?

Gary Gensler's vision of treating stablecoins as securities — every bit in, the SEC chair's famous rebranding of stablecoins into stable-value coins — could come to fruition if the leaked reports regarding the agency's takeover of the domain are supported by the text of the much-predictable Treasury report. It tin take a long time for Congress to stride into the void and establish the limits of each regulator'southward authority over various classes of digital assets, so frameworks drafted past executive bodies themselves can stick for a while.

FATF'southward uncertain guidance

The Fiscal Activeness Task Strength (FATF), an intergovernmental organization designed to assist standardize member states' Anti-Money Laundering rules, has issued a once-postponed update to its 2022 "Guidance for a Risk-Based Approach to Virtual Assets and Virtual Nugget Service Providers." The document clarifies some central definitions and details how the FATF surveillance rules apply to domains like stablecoins, peer-to-peer transactions, nonfungible tokens (NFTs) and decentralized finance (DeFi).

Some of the virtually contentious points of the previous iteration of the framework, issued in April, included the latitude of the virtual nugget service providers (VASPs) definition and the scope of financial surveillance nether the then-called Travel Dominion. The crypto community'southward cess of the degree to which industry participants' objections were addressed in the update ranges from "very bad" to "somewhat better."

BTC revolution is here

Volt Equity'due south "Bitcoin Revolution" exchange-traded fund, or ETF, adds to a concatenation of recent launches of Bitcoin (BTC)-tracking regulated instruments on major U.Due south. exchanges. This new offering represents an increasingly popular format of Bitcoin-linked products that deal with neither "physical" Bitcoin nor BTC futures, instead tracking an alphabetize of companies whose valuation is directly tied to the fortunes of the crypto market. While some observers are skeptical of such a model's prospects at present that BTC-futures ETFs are accessible, information technology will exist interesting to lookout man how both models' performances stack upwardly in the following months.