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On 18 July 2025, the US Securities and Exchange Commission (US SEC) Chairman Paul S. Atkins issued a statement describing US President Trump's signing of the US GENIUS Act into law as a monumental step forward for crypto assets and financial markets, reiterating the potential of blockchain technologies to revolutionise US financial infrastructure, emphasising the need for clear rules to boost efficiency and lower costs, and inviting market participants to engage with US SEC staff on integrating payment stablecoins into securities markets to advance America's leadership in crypto innovation. In the statement titled "Statement on President Trump Signing the GENIUS Act into Law," US SEC Chairman Paul S. Atkins discussed the law's broader implications for the sector. "President Trump’s signing the GENIUS Act is a monumental step forward for crypto assets, financial markets, and our country. As I have stated previously, blockchain and crypto asset technologies have the potential to...

On 18 July 2025, the US Securities and Exchange Commission (US SEC) Commissioner Hester M. Peirce issued a statement marking the signing of the US GENIUS Act into law as an important milestone for regulatory clarity in crypto, confirming payment stablecoins are not securities, noting their broad use as payments mechanisms, and aiming to protect users and the financial system through oversight by state and federal banking regulators while urging the US SEC to provide guidance for registrants' use of stablecoins. In her statement titled "Smart Start: Statement on the GENIUS Act," US SEC Commissioner Hester M. Peirce emphasised the law's role in advancing crypto regulation. "The signing of the GENIUS Act into law marks an important milestone in the effort to bring regulatory clarity to crypto—a necessary prerequisite for innovation in our markets to flourish and for the American public to benefit from that innovation," Peirce stated. She continued: "The new law confirms that payment...

On 17 July 2025, the US Securities and Exchange Commission (US SEC) Chairman Paul S. Atkins issued a statement congratulating the US House of Representatives on passing the US GENIUS Act, commending the collaborative efforts of the US House and US Senate, and highlighting it as a historic milestone for crypto entrepreneurs, financial market participants, by providing clear regulatory rules for payment stablecoins to encourage innovation, efficiencies, cost reductions, transparency, and risk mitigation in financial transactions. The US GENIUS Act, formally sponsored by US Senate Banking Committee Chairman Tim Scott, US House Financial Services Committee Chairman French Hill, US Senator Cynthia Lummis, and US Senator Bill Hagerty, represents a legislative effort to establish a regulatory framework for payment stablecoins within the broader context of blockchain and crypto asset technologies. The purpose of the US GENIUS Act is to provide clear rules for innovators in payment...

On 10 July 2025, the United States Securities and Exchange Commission (US SEC), through Release No. 2025-98, announced that it has filed a civil complaint in the U.S. District Court for the Northern District of Georgia against First Liberty Building & Loan, LLC, a Newnan, Georgia-based lender, and its founder and owner Edwin Brant Frost IV. The action seeks emergency relief in connection with an alleged $140 million Ponzi scheme that defrauded approximately 300 investors over more than a decade. The complaint alleges that, between 2014 and June 2025, the defendants offered and sold promissory notes and loan participation agreements to retail investors, promising annual returns of between 8% and 18%. Investors were told that their funds would be used to make short-term bridge loans to small businesses, often to be refinanced through Small Business Administration (SBA) or commercial loans. However, according to the US SEC’s findings, a significant portion of the funds was either...

On 9 July 2025, the United States Securities and Exchange Commission (US SEC) published the Notice of Filing of Amendment No. 2 to Proposed Rule Change to Amend the Bitwise Bitcoin ETF Trust and the Bitwise Ethereum ETF in Order to Permit In-Kind Creations and Redemptions, filed by NYSE Arca, Inc. The proposed Amendment No. 2 seeks to amend the currently approved operational framework of the Bitwise Bitcoin ETF Trust and the Bitwise Ethereum ETF to allow for in-kind creation and redemption of shares, in addition to the existing cash-based model. Proposed Amendments in Amendment No. 2 NYSE Arca, Inc. proposes to amend representations in the rule filings governing the Bitwise Bitcoin ETF Trust (the “Bitcoin Trust”) and the Bitwise Ethereum ETF (the “ETH Trust”) to permit in-kind creations and redemptions. Both Trusts are Delaware statutory trusts and are listed on NYSE Arca, Inc. under Rule 8.201-E, which governs Commodity-Based Trust Shares. The amendments would allow authorised...

On 9 July 2025, US SEC Commissioner Hester M. Peirce published a statement titled “Enchanting, but Not Magical: A Statement on the Tokenisation of Securities”, where she discussed the increasing adoption of blockchain technology for the tokenisation of securities. Commissioner Peirce stated that, despite the innovative potential of tokenisation to facilitate capital formation and enhance asset utility, tokenised securities remain subject to existing US federal securities laws. She warned that blockchain technology does not change the legal nature of the underlying asset; therefore, all market participants, including both new entrants and established firms, must adhere to US SEC regulations when issuing, distributing, or trading tokenised securities. Commissioner Peirce also pointed out the unique risks associated with third-party tokenisation, such as counterparty risks, and reminded distributors of their disclosure obligations under US SEC rules. She encouraged market participants...