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On 23 September 2025, the United States Commodity Futures Trading Commission (US CFTC) announced a new initiative to enable the use of tokenized collateral, including stablecoins, in derivatives markets. Acting Chairman Caroline D. Pham stated that this initiative forms part of the US CFTC’s crypto sprint to implement recommendations from the President’s Working Group on Digital Asset Markets report. The announcement builds on discussions at the US CFTC’s Crypto CEO Forum held in February 2025 and advances recommendations of the US CFTC’s Global Markets Advisory Committee (GMAC). Public input has been invited by 20 October 2025, with submissions to be published on CFTC.gov.

On 15 August 2025, the United States Department of Justice (DOJ) announced that crypto influencer Charles O. Parks III, also known as “CP3O,” was sentenced in the Eastern District of New York to one year and one day in prison for operating a large-scale cryptojacking scheme. Parks fraudulently obtained over $3.5 million in cloud computing resources, which he used to mine nearly $1 million in cryptocurrency. He pleaded guilty to wire fraud in December 2024. In addition to imprisonment, Parks was ordered to forfeit $500,000 and a Mercedes-Benz luxury car, with restitution to be determined.

On 17 September 2025, the United States Securities and Exchange Commission (US SEC) approved rule changes by three national securities exchanges adopting generic listing standards for Commodity-Based Trust Shares. The approval permits exchanges to list and trade products holding spot commodities, including digital assets, without filing a separate rule change under Section 19(b) of the United States Securities Exchange Act. The US SEC also approved the listing and trading of the Grayscale Digital Large Cap Fund under amended NYSE Arca rules and authorised p.m.-settled options on the Cboe Bitcoin U.S. ETF Index and the Mini-Cboe Bitcoin U.S. ETF Index. These actions streamline access to digital asset products, provide regulatory clarity, and expand the scope of exchange-traded offerings within US capital markets.

On 16 September 2025, the United States Securities and Exchange Commission (US SEC) announced that it will host a dedicated compliance webinar for large firms as part of its Regulation S-P outreach series. The event is scheduled for 25 September 2025 from 1 p.m. to 2 p.m. ET and is the first in a series of three compliance sessions tailored to different registrant types. Future webinars of this events will address transfer agents and small firms, aligned with their respective compliance deadlines under the Regulation S-P amendments adopted in 2024.

On 16 September 2025, the United States Securities and Exchange Commission (US SEC) announced the appointment of four new members to its Investor Advisory Committee. The Committee, established under Section 39 of the United States Securities Exchange Act of 1934, provides recommendations on regulatory priorities, investor protection, and market integrity. The new members will each serve a four-year term, joining the existing sixteen members. The appointments follow an invitation for interest announced earlier in 2025, and the United States SEC confirmed that another call for candidates is expected in 2026.

On 17 September 2025, the United States Commodity Futures Trading Commission (CFTC) and the United States Securities and Exchange Commission (US SEC) jointly extended the compliance date for amendments to Form PF, the confidential reporting form for private fund advisers. The new compliance date is 1 October 2026, replacing the previous deadline of 1 October 2025.

On 17 September 2025, the United Kingdom Financial Conduct Authority (UK FCA) published proposals setting out minimum standards for crypto firms. The consultation “Application of FCA Handbook for Regulated Cryptoasset Activities” seeks feedback on rules covering operational resilience, systems and controls to combat financial crime, and consumer protection. The proposals mirror requirements already applicable to traditional financial institutions but are designed to be proportionate so that United Kingdom firms can remain internationally competitive. The consultation also opens discussion on whether the United Kingdom Consumer Duty should extend to crypto firms, requiring them to deliver good outcomes for consumers. Views are also sought on complaints management, including whether consumers should be able to escalate disputes to the United Kingdom Financial Ombudsman Service. The deadline for responses to the consultation paper is 12 November 2025, while responses to the discussion paper must be submitted by 15 October 2025.

On 10 September 2025, the United Kingdom Financial Conduct Authority (UK FCA) announced that three individuals i.e. Charles Hunter, Kayan Kalipha, and Luke Desmaris, appeared before the United Kingdom Westminster Magistrates’ Court. Each defendant has been charged with one count of unauthorised promotion of high-risk financial products, contrary to Section 21(1) of the United Kingdom Financial Services and Markets Act 2000. The individuals, often referred to as ‘finfluencers’, are alleged to have used social media platforms to encourage followers to invest in foreign exchange contracts for difference (CFDs) without authorisation.

On 10 September 2025, United States Securities and Exchange Commission (US SEC) Chairman Paul S. Atkins addressed the OECD Roundtable on Global Financial Markets in Paris. In his remarks, Atkins explained how artificial intelligence (AI) is reshaping capital markets. He described the rise of agentic finance, where autonomous AI agents manage trades, capital, and risk with compliance embedded in code. Atkins urged regulators to provide commonsense guardrails while avoiding restrictive measures that could slow innovation. He framed AI as a critical driver of faster markets, lower costs, and broader access to investment strategies once reserved for large firms.

On 10 September 2025, United States Securities and Exchange Commission (US SEC) Chairman Paul S. Atkins addressed the OECD Roundtable on Global Financial Markets in Paris. In his remarks, Atkins explained the US SEC’s evolving approach to digital assets under Project Crypto. He described crypto as a permanent feature of global finance and stated that most tokens do not fall under securities law. Atkins called for predictable rules to replace enforcement-driven approaches, emphasising investor choice, integrated platforms, and freedom for innovators. His comments highlighted a decisive regulatory pivot intended to align the United States with global trends while reinforcing oversight and investor protection.

On 10 September 2025, the United States Securities and Exchange Commission (US SEC) announced that James J. Moloney will be the next Director of the Division of Corporation Finance, effective October 2025. Mr. Moloney returns to the agency after 25 years at Gibson Dunn & Cutcher, where he co-chaired the securities regulation and corporate governance practice. His appointment signals the SEC’s intention to modernise corporate disclosure rules and streamline governance frameworks. Cicely LaMothe, who has been serving as Acting Director, will return to her role as Deputy Director. SEC Chairman Paul S. Atkins praised Moloney’s experience in corporate governance and disclosure, underscoring his ability to balance innovation and capital formation with investor protection. The appointment marks a pivotal leadership transition at a time when the Division is central to advancing rule updates for mergers, acquisitions, proxy matters, and corporate reporting.

On 5 September 2025, the United States Securities and Exchange Commission (US SEC) Chairman Paul S. Atkins issued a statement following a United States Court of Appeals ruling on two 2023 rulemakings. The rules, Rule 10c-1a on securities lending reporting and Rule 13f-2 and Form SHO on short position reporting, were remanded by the Court for further economic analysis. While the Court did not vacate the rules, it found that the US SEC had failed to properly consider cumulative economic impacts. Chairman Atkins confirmed that staff have been directed to re-evaluate the rules and prepare recommendations, including possible changes and compliance date adjustments. Temporary exemptions remain in place, with compliance deadlines beginning in January 2026.