法律 · 10780

EU considers incorporating DeFi vaults into MiCA, analysis says regulation is difficult

Comparatively, according to Cointelegraph, the European Commission is evaluating whether to include crypto loans (including DeFi vaults) in the Crypto Asset Market Regulation (MiCA). The relevant targeted consultations began on May 20, 2026, and the deadline for feedback is September 30. MiCA originally excluded crypto lending and partially excluded completely decentralized activities, but Brussels is currently reviewing these gaps. EU digital asset lawyer Yuriy Brisov said that there is no “treasury” category in EU law, and lawyers need to define it by function rather than label. Treasury divides economic functions such as lending between smart contracts and multiple participants (such as Morpho Vault V2 owners, curators, allocators, and sentinels), making it difficult to handle a single regulated entity. Cahill partner Jonathan Galea cautioned that “DeFi lending” should not be included as a single label; otherwise, products with different structures may be one-size-fits-all. Curve founder Michael Egorov said that if it is regulated, it should be treated differently, because DeFi does not require all the guarantees of traditional lending, and may require other rules.

1m ago

Fairmint CEO: Tokenizing stocks may recreate the 1960s Wall Street “paper crisis”

Comparing news, according to CoinDesk, Joris Delanoue, CEO of on-chain securities infrastructure provider Fairmint, said that the boom in tokenized stocks may recreate a digital version of Wall Street's “paper crisis” in the late 1960s. At that time, US stock trading volume surged, and the back-office that relied on paper stock certificates was overwhelmed, and settlement failures increased. The New York Stock Exchange closed for a while on Wednesday to clean up the backlog, which eventually promoted infrastructure reforms such as central depository and depository trust companies. Delanoue said the main question was whether the crisis was being recreated digitally. Exchanges, special purpose vehicles (SPVs), token wrappers, and proprietary ledgers may split ownership records as tokenized stocks grow. Some products only provide economic exposure to underlying stocks rather than legal ownership. Investors may rely on intermediaries and face uncertainty about voting rights, dividends, and asset claims when the issuer or SPV goes wrong. The global tokenized stock market has grown from less than $500 million at the end of the first quarter to around $2 billion.

1m ago

Morgan Stanley survey: Wall Street interns are passionate about predicting markets and AI; 68% use AI tools every day

Comparatively, the Morgan Stanley Equities Research Team conducted an annual survey of more than 500 North American summer interns, most of whom were under the age of 21. Over a quarter of interns said they had used predictive market apps in the past year, with Kalshi and Polymarket being the most common choices; 55% of users used multiple betting apps at the same time. The prediction market is receiving more scrutiny in the US, and several states have taken legal or regulatory measures against related platforms. The Morgan Stanley Employee Code of Conduct covers trading and investment matters, including predicting the market, but no further details were disclosed by people familiar with the matter. According to another national survey, 21% of US adult respondents have used predictive marketplaces, and 37% of people aged 18 to 34 have used predictive marketplaces. On the AI side, 68% of interns use AI tools every day, up from 35% last year and 14% in 2024; about 70% paid for AI tools at their own expense, up from 52% last summer. Meanwhile, 61% of respondents are concerned that AI will replace financial jobs, and 74% are concerned about job substitution in other industries. More than 60% of people are interested in using humanoid robots at home, and 10% say they may become early adopters.

1m ago

Keeta wrote to hackers after the attack: Returning funds within 72 hours is exempt from liability

Comparing news, regarding the recent attack on the public payment chain Keeta, Keeta Network CEO Ty wrote to the attackers saying that the investigation had made substantial progress and that evidence that could identify the attackers had been collected. This includes information such as IP addresses related to the attack and infrastructure information such as VPNs and VPS used, user agents and technical environments that initiated unauthorized requests, relevant email addresses, and software and infrastructure service providers used. Relevant evidence has been saved and submitted to relevant parties. The attackers are required to return all funds obtained from this attack within 72 hours, and KTA, ETH, or USDC are accepted for repayment. If the funds are returned in full, they are willing to give a certain reward and resolve the matter without legal liability. All rights to pursue legal and financial claims will be reserved if the return is overdue. Ty previously posted that the root cause of the security incident has been confirmed and the patch is being tested. This issue is an isolated issue with the affected component and does not affect Keeta's anchor system or any external connectivity systems. None of the KTAs on Base were affected. The Keeta mainnet will continue to be read-only until the patch is fully tested and appropriate additional safeguards are in place before full operation is restored. The team is actively evaluating the best practices to fully reimburse all affected users.

1m ago#On-chain dynamics

South Korea plans to launch a new securities market in mid-November, and the STO market is at a critical turning point

Comparatively, the Korea Exchange (KRX) plans to launch a new securities market on November 16. At that time, assets such as art, real estate, and music copyright will be traded like stocks through securities accounts. According to reports, the Korea Exchange is currently advancing the construction of relevant trading systems and preparations for market participants, and will conduct simulated trading for 6 weeks from October 6 to November 13. The official opening time may be adjusted according to the financial supervisory authority's approval process for listed products. After the market opens, investors can trade through securities company accounts, and the trading time is consistent with the stock market. Analysts believe that the securities token issuance (STO) industry in the Korean market is already at an important turning point. Although new securities listed and traded in November will be temporarily issued and registered using traditional electronic securities methods, subsequent tokenized securities based on blockchain distributed ledger issuance and management will gradually be implemented after the relevant laws are officially implemented in February 2027. (TheDailyEconomy)

9h ago

South Korea plans to open virtual asset accounts to about 3,500 companies, and the central bank plans to test AI proxy deposit tokens by the end of 2026

Comparing news, Factblock CEO and Korea Blockchain Week organizer Andrew Park said that the Korean crypto market is shifting from being driven by retail transactions to institutional digital finance. The focus of global financial institutions and enterprises has moved from tokens, exchanges, and prices to escrow, tokenization, stablecoins, payment and settlement infrastructure, and regulatory compliance. The Korea Financial Services Commission has proposed a framework to open corporate virtual asset accounts to approximately 3,500 listed companies and registered professional investors. The National Assembly of Korea has officially passed amendments to the Electronic Securities Act and the Capital Markets Act to incorporate tokenized real-world assets and security tokens into a unified legal framework. The Bank of Korea has completed initial testing of the Project Hangang real-world deposit token project and plans to conduct the second phase of institutional testing in late 2026. Related technical experiments have used wholesale deposit tokens to allow AI agents to execute automated conditional transactions. This article is sponsored by GENG, Build Your Fortune on GENG (https://geng.one)

10h agoburnking

Opinion: Changing key provisions of the Clarity Act would cause legislation to fail and should be passed as soon as possible

Comparing news, Summer Mersinger, CEO of the US Blockchain Association (Blockchain Association), wrote that there are less than four weeks left until the US Senate votes to advance the “Clarity Act” debate on September 15. Reopening the provisions that have been under negotiation for several months at this time will not improve the bill; on the contrary, it will restart the unfinished negotiation process, which may eventually lead to the failure of the legislation. Mersinger said that the two proposed revisions proposed by the American Bankers Association (ABA) — replacing the existing standard with substantially similar interest and removing the word “simply” were not simple text adjustments, but major policy changes. She pointed out that similar interest is essentially a flexible legal standard, which may allow regulators to expand the scope of interpretation; and removing Solely will change the scope of application of stablecoin income restrictions in the GENIUS Act and affect the policy boundaries previously set by Congress. Mersinger stated that ABA's concerns that stablecoins may cause bank deposits to be lost have no real basis. The data shows that since the GENIUS Act was passed, bank of America deposits have grown for three consecutive quarters, with a cumulative increase of more than 800 billion US dollars. She stressed that what is really needed to protect consumers is to establish a digital asset regulatory framework. The Clarity Act will clarify the regulatory boundaries between the US Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), require registration of platforms serving US users, and implement customer asset isolation, information disclosure, and conflict of interest management rules. Mersinger finally called on the US Senate not to restart negotiations. The bill has been completed, the relevant work has been completed, and the Senate has an opportunity to push it forward on September 15, and it should be passed directly.

18h ago

Crypto industry association sues Illinois to challenge 0.2% digital asset tax

According to CoinDesk, the Crypto Innovation Commission (CCI) and Blockchain Association (Blockchain Association) recently filed a civil lawsuit in Sangam County, Illinois, to officially join the legal challenge to the state's digital asset tax policy. The move comes on the heels of a lawsuit initiated by the Digital Chamber of Commerce (Digital Chamber) last month, and marks a further escalation of the industry alliance's rivalry. The plaintiff alleges that the state's new tax law violates the US Constitution, the Illinois Constitution, and the Internet Tax Freedom Act. The source of the dispute is that the tax law requires entities that conduct business or provide services to residents in the state to pay a 0.2% digital asset transaction or storage tax if their annual income exceeds $100,000. Although lawmakers expect the measure to raise $60 million in the state budget each year, the plaintiffs said the move constituted a 'unique punitive treatment' for digital assets due to the lack of corresponding taxes on traditional assets, suspected of unjust allocation of resources through tax codes.

21h ago

CFTC Chairman Says It Will Defend Exclusive Regulatory Authority to Predict Markets and Set Rules

Comparing news, CFTC Chairman Selig posted on social media that Congress has given the CFTC exclusive control over forecasting markets. The CFTC will not only defend its jurisdiction and oppose states' attempts to repeal federal laws and apply state anti-Chinese cuisine laws to designated contract markets (DCM), but it will also exercise that power by establishing clear rules for these markets. Selig said that the CFTC will actively maintain a unified regulatory framework at the federal level, ensure that the prediction market operates under a clear compliance path, and avoid the impact of state-level anti-Facebook rules on federally regulated DCM.

1d ago

BitMart: A potential restructuring plan is being prepared to resume some operations in stages

Comparing news, BitMart issued an announcement stating that it is developing a potential restructuring plan as an alternative to a full shutdown. The plan may include a phased resumption of partial operations under an orderly arrangement and distribution to creditors, but further legal, financial, operational and regulatory assessments are required. BitMart has appointed White & Case as legal advisors for the restructuring to help evaluate possible solutions and develop a framework for restructuring and phased resumption of operations. BitMart said it is currently working with consultants to develop a roadmap and will aim to provide further updates by September 9, 2026.

1d ago