The White House says it remains on track to pass the CLARITY Act, a major crypto market structure bill, by its original July 4 target date. In a recent interview, White House chief crypto adviser Patrick Witt said negotiations are advancing on three areas Democratic senators flagged as priorities: the Senate Agriculture Committee's approach to defining the CFTC's role in crypto markets (referred to as "Ag"), ethics provisions, and developer protection language under the BRCA. Witt said work is progressing daily, with groups "at the table" exchanging draft language, and he maintained he is optimistic the July 4 timeline can still be met. The comments come after earlier reports suggested ethics talks had a "rocky" start. Even so, the Senate schedule is crowded, and lawmakers have until just before the August recess to get the bill over the finish line. Prediction markets remain unconvinced. As of publication, Polymarket implied a 51% chance the bill passes by year-end. Kalshi, which has roughly double Polymarket's volume in the same market, put the odds at 46%. Together, pricing suggests investors see the outcome as close to a coin flip. For the near-term timeline, Kalshi traders assigned about a 30% probability the bill clears before August. While those July odds have risen roughly 10 percentage points over the past two days, they remain low, highlighting a gap between White House confidence and market expectations. Beyond limited floor time, analysts—including at JPMorgan—have warned the legislation could bog down over stablecoin yield issues. With few additional details emerging from negotiations, the bill's path remains uncertain. Key takeaways: - The White House says it can still meet a July 4 deadline for passing the CLARITY Act. - Prediction markets are roughly 50/50 on year-end passage and price about a 30% chance of passage by July.

Polish President Karol Nawrocki on June 11 signed seven bills into law and vetoed three, including legislation intended to regulate the country's cryptoassets market. He said he supports bringing the sector under clear rules, but argued the bill failed to deliver effective consumer protection. The package he rejected also contained an amendment limiting certain taxes and a healthcare-related measure. Nawrocki said the vetoes were driven by considerations of citizens' rights, regulatory effectiveness and patient safety. The cryptoassets bill had been closely watched as a key step toward a new rulebook for Poland's digital-asset industry. Nawrocki said the final text largely omitted proposals drafted by his office, with only one of 16 priority amendment areas reflected in the version presented for signature. He added that the bill was nearly identical to a draft he has already vetoed twice. Nawrocki said he would be prepared to approve the legislation if lawmakers revise it to meet the stated objectives, leaving the door open to another attempt in parliament. As it stands, the current proposal cannot advance without further political action. Prime Minister Donald Tusk criticized the decision in a post on X, saying: "It sounds unbelievable, but the president has vetoed the cryptocurrency bill again. He seems more entangled in it than everyone thought." The comments add political tension to an already delayed regulatory process. In his own statement, Nawrocki said the presidency is not meant to automatically sign or block laws and that decisions should reflect responsibility for citizens, the state and Poland's future. He also argued that major public decisions should not be made without explanation or debate. Despite the vetoes, seven other bills received presidential approval. They covered issues including court probation officers, national and ethnic minorities, personal and corporate income tax rules, spatial planning, e-health services, inheritance and donation tax, and Poland's participation in the Eurodac system. Separately, the president submitted his own healthcare proposal to the Sejm, focused on access to treatment for people living with HIV and changes to diagnostic funding for hepatitis C patients in prisons. With the crypto bill again stalled, Poland remains without the proposed framework for its digital-asset market. Lawmakers may amend the draft, build broader support or pursue a different legislative route. For crypto firms and users, the near-term outcome is unchanged: regulatory rules remain unsettled as European markets continue adapting to wider EU crypto regulation. Disclaimer: This content is for informational and educational purposes only and does not constitute financial advice. The publisher is not responsible for losses resulting from the use of any content, products or services referenced. Readers should exercise caution before taking any action related to the company.

Delaware lawmakers have moved House Bill (HB) 441 forward for Senate consideration, setting the stage for a statewide ban on cryptocurrency kiosks commonly known as crypto ATMs. On June 11, HB 441 was placed on the agenda of the Senate Banking, Business, Insurance and Technology Committee. The measure would prohibit installing or operating crypto ATMs and would require existing machines to be removed within 90 days of enactment. Enforcement would include the ability to seek injunctive relief, civil penalties of up to $10,000, and private lawsuits for damages. The proposal, sponsored by Rep. Cyndie Romer, follows passage in the Delaware House of Representatives. Sources said the bill cleared the chamber with one member absent and was referred to the Senate committee after being reported out of the House Economic Development, Banking, Insurance and Commerce Committee on June 9, 2026, with one favorable vote and seven "on its merits" votes. Backers include the Delaware Department of Justice, Delaware State Police, AARP Delaware, the Delaware Bankers Association, and the Delaware Bank Commissioner. Supporters describe the legislation as a consumer-protection response to fraud rather than a stance against cryptocurrency itself. Lawmakers say the push is driven by a rise in scams tied to crypto kiosks, particularly affecting seniors and other vulnerable consumers. FBI data logged more than 13,400 kiosk-related complaints in 2025, with nationwide losses topping $388 million. In Delaware, residents reported 181 crypto-related complaints and 255 wallet-related complaints last year, with combined losses of about $26.9 million. Romer called the kiosks "a predatory cash grab," citing fees reaching as high as 20%, compared with roughly 0.4% to 1% on online exchanges. Delaware Attorney General Kathy Jennings said people can be persuaded to send large sums through these kiosks and later are unable to recover the money. Delaware's move comes as more states tighten rules around crypto kiosks. Since 2023, at least 30 states have enacted legislation addressing the machines, with momentum accelerating in 2025–2026. Delaware joins Indiana, Tennessee, and Minnesota in pursuing or enacting outright bans, while New Jersey's Senate Bill S2141 is advancing similar restrictions. Other states are opting for stricter regulation instead of a ban. North Carolina's HB 920 passed the House unanimously, 115–0, and has moved to the Senate. The bill would require fraud warnings, receipts, exchange-rate disclosures, live customer support, a 14% fee cap, and updated daily transaction limits. At the federal level, the Stop Crypto ATM Scams Act would establish nationwide standards for crypto kiosks, including AML compliance, ID verification, scam warnings, suspicious-activity reporting, transaction caps of $2,000 to $7,500, and live support, while allowing states to impose tougher rules or bans. If Delaware's HB 441 becomes law, crypto ATMs currently operating in the state would need to be removed within 90 days. Operators who fail to comply could face court orders, civil fines of up to $10,000, and private claims for damages. Disclaimer: This article is for informational and educational purposes only and does not constitute financial advice. Coin Edition is not responsible for losses resulting from the use of any content, products, or services mentioned. Readers should exercise caution before taking action related to any company.

Nigel Farage, leader of Reform UK, has sharply reduced his public media appearances in recent weeks as Parliament investigates whether he failed to declare a £5 million (about $6.4 million) gift from cryptocurrency billionaire Christopher Harborne ahead of the 2024 general election. Figures show Farage held 20 press conferences in the first four months of the year, but just one in May, after the previously undisclosed donation was reported on April 29. Critics note Reform UK later promoted a number of crypto-friendly proposals, including cutting the capital gains tax rate on crypto assets to 10% from 24% and creating a national Bitcoin reserve held at the Bank of England. After the UK Parliament's Commissioner for Standards said an inquiry would be opened, Reform UK removed a draft digital finance policy document from its website at the end of May. (FT)

Sam Bankman-Fried has lost his most significant appeal to date, tightening the former FTX chief executive's remaining legal options as a separate clemency request continues to sit with the White House. A three-judge panel of the U.S. Court of Appeals for the Second Circuit on Friday unanimously upheld Bankman-Fried's 2023 fraud conviction and the 25-year sentence imposed after the collapse of the FTX cryptocurrency exchange. Circuit Judge Barrington Parker, writing for the panel, called the government's case "robust," saying the trial record provided ample support for the jury's verdict. Prosecutors argued Bankman-Fried diverted about $8 billion of customer money from FTX to Alameda Research, the trading firm he founded, describing the conduct at trial as a "fraud of epic proportions." A federal jury convicted him in 2023 on seven counts, including fraud and conspiracy. The appeals court endorsed prosecutors' central narrative: Bankman-Fried publicly told customers, investors and regulators that assets were safe while using FTX funds for personal spending, political donations, investments and real estate purchases. The panel rejected claims that U.S. District Judge Lewis Kaplan wrongly excluded evidence the defense said would have supported Bankman-Fried's belief that FTX could meet customer withdrawals. Citing precedent, the court held that fraud is complete when money is obtained through deception. Under that standard, customers were defrauded once their funds were moved to Alameda, regardless of any later intent or belief about repayment. Bankman-Fried has consistently maintained he did not steal customer funds, acknowledging management failures at FTX but denying criminal wrongdoing. Earlier attempts to win a new trial also fell short. He filed and later withdrew a Rule 33 motion asserting newly discovered evidence, and Judge Kaplan later denied a retrial request after concluding the witnesses in question were not newly discovered. Prosecutors also contested defense assertions that FTX remained solvent before its collapse, pointing to reports that the exchange held just 105 Bitcoin against customer claims of roughly 100,000 Bitcoin. Separately, Bankman-Fried has applied for a presidential pardon, described in filings as a "pardon after completion of sentence." Public backing appears limited. President Donald Trump told The New York Times earlier this year that he did not plan to pardon Bankman-Fried, and the White House has directed reporters to those comments. Senator Cynthia Lummis has also said she hoped Trump would not grant clemency given the losses suffered by customers. Now 34, Bankman-Fried is serving his sentence at a low-security federal prison near Santa Barbara, California. Bureau of Prisons records list his current release eligibility as 2044. His lawyers did not immediately respond to requests for comment on the ruling. Bankman-Fried can still ask the full Second Circuit to rehear the case en banc or petition the U.S. Supreme Court, but Friday's decision closes a major route to overturning the conviction. For the crypto sector, the ruling stands as a major accountability marker stemming from one of the industry's largest failures. It also reinforces the ongoing regulatory and criminal risks faced by exchanges and executives, underscoring that deceptive commingling of customer assets can carry severe penalties.

The U.S. Securities and Exchange Commission has proposed rolling back two longstanding provisions of Regulation NMS that shape how U.S. equity orders are routed and quotations are displayed. The initiative is pitched as a cleanup of legacy market mechanics, though it could also carry indirect implications for tokenized equities. What the SEC is proposing The agency is seeking to rescind Rule 611, known as the Order Protection (Trade-Through) Rule, and Rule 610(e), which restricts locked and crossed quotations. Adopted in 2005, Rule 611 generally limits trading venues from executing trades at prices inferior to protected quotes displayed on other venues. Rule 610(e) governs situations where bids and offers across venues produce locked or crossed markets. The SEC argues that, after two decades of market evolution, the rules have contributed to "unintended complexity." It says removing them would simplify equity market structure, reduce trading complexity, and lower costs. Estimated savings and process The SEC estimates annual cost savings of about $54.2 million to $77 million for exchanges, alternative trading systems (ATSs), broker-dealers, and OTC market makers, citing reduced compliance, monitoring, and order-routing infrastructure costs. The proposal will be published in the Federal Register and will be subject to a 60-day public comment period. It is not final and could be revised or withdrawn depending on feedback. Why digital-asset market structure is paying attention The SEC did not present the proposal as a crypto or tokenization initiative. Still, digital-asset market-structure observers are watching closely because tokenized equities and real-world-asset platforms ultimately must operate within the U.S. securities framework. Onchain trading models, particularly automated market makers (AMMs) that trade against liquidity pools using pricing formulas, typically do not route each order to check the national best bid and offer the way traditional venues do. Under a strict trade-through regime, that mismatch can create compliance tension if a tokenized-stock AMM executes at prices that diverge from protected quotes on other venues. In theory, removing rigid per-trade routing requirements could make it easier to design blockchain-based equity trading systems that fit within regulatory constraints. The SEC's stated motivation, though, is simplification and cost reduction in traditional markets$not building a tokenization framework. Key caveats Repealing these Reg NMS rules would not automatically legalize tokenized stocks or eliminate other regulatory hurdles. Exchanges, broker-dealers, ATSs, custody providers, and tokenized-asset platforms would still need to comply with a range of securities-law obligations. Other exchange-level rules and FINRA requirements may also need updates, and changes to Regulation NMS alone would not remove every barrier. Bottom line The SEC's proposal represents a meaningful rethink of legacy U.S. equity market plumbing. While not a crypto rulemaking and not an endorsement of tokenized equities, it could indirectly reduce certain structural frictions for onchain trading models. The public has 60 days to comment. Source: U.S. Securities and Exchange Commission (SEC Newsroom proposal).

Brazil's Chamber of Deputies Committee on Finance and Taxation (CFT) has approved Bill PL 5819/2025, empowering courts to order the freezing of assets held by suspects at cryptocurrency exchanges and banks, according to Livecoins. Approved on June 10 local time, the proposal would also raise prison terms for cyber fraud to six to ten years, up from four to eight years, with sentences increased by one-third when organized crime is involved. The bill also allows preventive detention when there is a risk of flight or when losses exceed 100 minimum wages. Next, the measure heads to the Constitution and Justice Committee (CCJ) and still requires approval in full sessions of both chambers.

Brazil's Chamber of Deputies Committee on Finance and Taxation (CFT) has approved a bill aimed at curbing cyber fraud, including provisions that would allow authorities to freeze cryptocurrency balances held by individuals under police investigation, ME News reported on June 13 (UTC+8). The proposal would amend relevant sections of the Criminal Code to raise penalties for cybercrime. Offenses carried out via social media or phone calls would face tougher punishment, while convictions for cyberattacks would carry prison terms of 6 to 10 years, up from the current 4 to 8 years. Under the bill, judges would be empowered to freeze suspects' assets held on Bitcoin exchanges and in bank accounts. Preventive measures outlined in the text also include freezing physical assets and restricting access to payment systems. The bill now moves to the Committee on Constitution and Justice (CCJ) for review, with the process expected to conclude in the coming days. (Source: ChainCatcher)

Odaily Planet Daily reports that the U.S. Commodity Futures Trading Commission (CFTC) has sued New Mexico Governor Michelle Lujan Grisham, Attorney General Raúl Torrez, and other officials in the U.S. District Court for New Mexico, aiming to stop the state from applying its gambling regulations to prediction market platforms. The dispute follows New Mexico's lawsuit against Kalshi, in which the state alleged the platform offered sports betting to New Mexico residents without authorization and allowed participation by users below the state's legal gambling age of 21. The Attorney General's office has argued that lawful gambling in New Mexico may operate only under tribal-state gaming compacts or within a tightly regulated state framework. The CFTC contends that platforms such as Kalshi list federally regulated derivatives contracts, not gambling products under state law. CFTC Chair Michael Selig said New Mexico is trying to extend state gambling laws to federal derivatives exchanges that fall under the CFTC's exclusive jurisdiction. In recent months, the CFTC has filed similar suits against Wisconsin, Illinois, Arizona, Connecticut, and New York as it seeks to reaffirm its oversight of sports-related prediction markets. The agency also proposed broader rules for prediction markets this week, which would generally continue to allow sports-related contracts.