North Carolina has broken with the wave of states fighting prediction markets in court, using its new budget to tax platforms like Kalshi and Polymarket at 6% while explicitly declining to regulate them – a posture that effectively recognizes federal authority over the sector even as other states sue to assert their own. Sportsbooks in […]
The post White House Defends Trump as CFTC Vacancies Stall Crypto Bill appeared on BitcoinEthereumNews.com.
The White House defended President Donald Trump’s regulatory appointments as Senate disputes over agency vacancies threaten progress. Lawmakers continue debating the stalled crypto market structure bill and the role of federal regulators. Officials sent a letter to congressional leaders to challenge claims about Trump’s nomination strategy. They argued that Democrats blocked several civilian nominees while Trump still selected some bipartisan candidates. Additionally, the administration said it sought Democratic recommendations for Securities and Exchange Commission and Commodity Futures Trading Commission roles. However, officials said they received no responses from Democratic leaders. Consequently, the White House blamed the ongoing vacancies on political disagreements rather than executive delays. 🚨NEW: The White House is pushing back on Senate Democrats’ claims that the Tr
The post Hyperliquid Policy Center, Phantom Urge CFTC To Ease Onchain Software Registration Rules appeared on BitcoinEthereumNews.com.
TLDR: HPC and Phantom filed a joint letter urging CFTC to clarify registration rules for developers. The letter asks CFTC to give registered exchanges a path to adopt onchain infrastructure. HPC and Phantom want the Phantom no-action letter codified into a permanent formal rule. The filing responds directly to a CFTC request on rules hindering market participants. Hyperliquid Policy Center and Phantom have urged the CFTC to clarify that publishing onchain protocol software does not require registration. The two firms submitted a joint comment letter this week addressing onchain market infrastructure. Their filing asks regulators to modernize outdated rules built around custodial intermediaries. It calls for a clear registration pathway for exchanges adopting onchain systems. The letter also pushes to codify the existing Phantom no-action letter into for
The post SPI Asks CFTC to Bring Blockchain-Friendly Reforms appeared on BitcoinEthereumNews.com.
Key Highlights On Thursday, the Solana Policy Institute submitted comments urging the CFTC to update the outdated rules that create obstacles for blockchain-based innovations. In the filing, Solana Policy Institute urged regulators that non-custodial front-ends should not be classified as intermediaries just for allowing users to submit transactions. The response comes after the CFTC’s June 2026 request for the public to boost fintech innovations. On July 9, Solana Policy Institute submitted its response to the U.S. Commodity Futures Trading Commission (CFTC) request for public input on barriers to fintech innovation. In the official document, the non-profit organization mentioned the need to update old regulatory frameworks to support blockchain-based markets and non-custodial interfaces like wallets. The Solana Policy Institute mentioned in the response that “These comments focus on three
The post Kalshi Plans Expansion Into Gold, Currency, and Energy Perpetual Futures Markets appeared on BitcoinEthereumNews.com.
Key Highlights Kalshi is requesting regulatory clearance for perpetual futures covering gold, currencies, and energy. The trading venue intends to move past cryptocurrency-focused derivative offerings. Precious metals, particularly gold, represent a top strategic focus for upcoming launches. Regulatory examination by the CFTC may establish precedents for energy-linked perpetual contracts. Legacy derivative exchanges confront mounting competitive challenges from Kalshi’s strategic growth. Kalshi has submitted applications to broaden its perpetual futures offerings into precious metals, currency pairs, and energy commodities. This strategic initiative represents an effort to extend its regulated derivatives framework beyond cryptocurrency markets. The expansion strategy positions Kalshi in direct rivalry with long-standing exchange platforms and retail-focused tr
The post North Carolina Sides With Federal Preemption, Taxing Prediction Markets 6% While Sportsbooks Pay 23% appeared on BitcoinEthereumNews.com.
Key Takeaways North Carolina’s signed budget taxes prediction markets at 6% of net trading fee revenue, effective January 1, 2027. The state declines to require prediction platforms to hold a state license, recognizing CFTC authority instead. Sports betting operators face a separate, higher 23% tax on gross wagering revenue, up from 18%, effective immediately. A carveout sidestepping a fight Governor Josh Stein signed North Carolina’s $34 billion fiscal-year budget on July 7, enacting Senate Bill 257 – now Session Law 2026-41 – after more than a year of negotiations. The budget’s two key gambling provisions pull in opposite directions: the first raises the tax on licensed online sports betting from 18% to 23% of gross wagering revenue, effective immediately. The second, taking effect January 1, 2027, imposes a 6% tax on prediction market ope
The post SEC and CFTC Vacancies Fuel Clarity Act Debate appeared on BitcoinEthereumNews.com.
White House says it requested SEC and CFTC nominee names as Clarity Act talks raise pressure over vacant seats. The White House has rejected Senate Democrats’ claims over vacant minority seats at the SEC and CFTC. In a letter to Senate leaders, it said Democratic recommendations were requested but not received. The dispute comes as Congress prepares for expected action on the Clarity Act. The bill could shape how U.S. agencies oversee digital asset markets. Senate Democrats accused the Trump administration of delaying Democratic nominees for major financial regulators. The White House response shifted blame back toward Senate Democrats. The open seats have drawn attention from lawmakers on both sides of the aisle. Meanwhile, crypto firms are watching the process because agency leadership may shape future rules. White House Pushes Back on Nomination Claims The White House said it did not refus
The post Political Stalemate Over Key Regulatory Commission Appointments appeared on BitcoinEthereumNews.com.
Amidst rising tensions in Washington, the White House has declared that no candidate names have been submitted by Senate Democrats to fill the vacant commissioner seats at the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). This statement was made public through a letter addressed to Senate Majority Leader John Thune […] Continue Reading:Political Stalemate Over Key Regulatory Commission Appointments Source: https://en.bitcoinhaber.net/political-stalemate-over-key-regulatory-commission-appointments
White House says it requested SEC and CFTC nominee names as Clarity Act talks raise pressure over vacant seats. The White House has rejected Senate Democrats’ claims over vacant minority seats at the SEC and CFTC. In a letter to Senate leaders, it said Democratic recommendations were requested but not received. The dispute comes as […]
The post SEC and CFTC Vacancy Fight Heats Up as White House Blames Democrats for Delay appeared first on Live Bitcoin News.
