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California’s Digital Financial Assets Law Takes Effect as Crypto Licensing Deadline Passes

On 1 July 2026, the licensing requirements under California’s Digital Financial Assets Law (DFAL) took effect, requiring cryptoasset businesses conducting covered activities with or on behalf of California residents to hold a licence from the California Department of Financial Protection and Innovation (DFPI), have submitted a completed licence application, or fall within a statutory exemption.

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United States SEC and CFTC Seek Comment on Harmonising Portfolio Margining and Cross-Margining Frameworks Across Securities and Derivatives Markets

On 26 June 2026, the United States Securities and Exchange Commission and the United States Commodity Futures Trading Commission issued a joint request for public comment on potential approaches to further implement and harmonise portfolio margining and cross-margining frameworks across securities, security-based swaps, futures, swaps and related positions.

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