Big News From the SEC

Congress may be waiting until September on Clarity, but the SEC has put its own crypto framework on the table. “Regulation Crypto” would exempt certain crypto companies and offerings from U.S. securities rules, which should make it easier for crypto companies to issue tokens and raise money. Its proposal includes a lighter exemption for raises up to $5 million and a larger route for as much as $75 million over 12 months. Issuers would have to disclose what they plan to build but the biggest potential shift might come later: some tokens could gain a path out of ‘securities’ status once the promised work is finished. Read more →

The proposal comes days after the agency abruptly canceled last Friday’s scheduled meeting over an “unforeseen scheduling issue.”

Krak Card is now available to U.S. customers, with up to 2% cashback paid in dollars or Bitcoin after transactions settle. For comparison, Coinbase already offers debit and member-only credit cards, while Robinhood leans on its Gold credit card. It is free to order, with tiers available to qualifying users. Kraken’s pitch? Rewards deposited directly into accounts instead of another points system. Read more →

Robinhood’s CEO, Vlad Tenev, wants U.S. investors brought into what he calls a global tokenization supercycle. Robinhood’s stock tokens already offer users in more than 120 countries economic exposure to over 190 U.S. stocks, backed 1:1 by underlying shares. They are not the same as owning shares directly, though, as Tenev explains in a new article on X, he expects future designs could carry full shareholder rights. His pitch turns on whether blockchain-based markets can fix the settlement and ownership frictions exposed by GameStop. Read more →

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