Market Intelligence

In the last hour, the U.S. SEC proposed “Regulation Crypto Assets,” a framework that could make token financing legal again through new capital-raising exemptions, while Cuomo urged Congress to pass the CLARITY Act, saying the U.S. is lagging on crypto rules. Away from digital assets, the commodity backdrop is subdued: central banks slashed their gold purchases in early 2026, a notable shift for the precious-metals complex. For FX, the main watch point is whether the clearer U.S. regulatory path influences cross-border capital flows and the dollar; no major standalone currency data points appear. Crypto markets are now focused on the rulebook’s details. The SEC’s proposal is its first full crypto framework after a long delay, with exemptions intended to streamline capital formation for digital-asset entrepreneurs and bring issuers back to the U.S. The Trump administration says it will keep advancing regulation even though the CLARITY Act has stalled in Congress. Institutional infrastructure is also expanding: Citi plans to launch Bitcoin custody for institutions by year-end. Meanwhile, Wyoming’s stablecoin move is tied to the LayerZero exodus, and the new rules are reviving the legal question XRP made famous. Watch how federal rulemaking, state-level initiatives, and custody expansion evolve together.