US crypto & fintech regulation, in plain English
Every major rule from FinCEN, OCC, OFAC, the SEC and CFTC — explained, with who it affects and what to do. Free, always current, no signup.
Major rule trackers
The GENIUS Act: federal rules for payment stablecoins
Signed into law — illicit-finance rules being finalized (expected mid-2026)
The first major U.S. digital-asset law. It creates a federal licensing and supervision regime for payment-stablecoin issuers: 1:1 reserves in cash or short-dated Treasuries, bank-like safety-and-soundness standards, and full BSA/AML obligations. Treasury, FinCEN, and OFAC are now writing the implementing rules.
Open trackerU.S. Congress · SEC · CFTCThe CLARITY Act: who regulates crypto — the SEC or the CFTC?
Advancing through Congress — joint SEC/CFTC guidance already issued
The market-structure bill that aims to end the SEC-vs-CFTC turf war over crypto. It sets statutory rules for when a digital asset is a security (SEC) versus a digital commodity (CFTC), replacing years of enforcement-by-litigation with a defined regulatory perimeter.
Open trackerSEC Approves NYSE Arca Listing of T. Rowe Price Active Crypto ETF
The SEC has approved a proposed rule change allowing NYSE Arca to list and trade shares of the T. Rowe Price Active Crypto ETF as a Commodity-Based Trust Share under NYSE Arca Rule 8.201-E. This expands the universe of SEC-approved crypto investment products available to retail and institutional investors. Compliance officers at broker-dealers, custodians, and exchanges supporting ETF distribution or custody should assess whether their AML, KYC, and product onboarding frameworks cover this new product.
NYSE Arca Seeks Extended Review Period for Commodity-Based Trust Share Listing Standards
The SEC has designated a longer review period for NYSE Arca's proposed rule change that would amend the generic listing standards for commodity-based trust shares under Rule 8.201-E. These listing standards govern products such as spot Bitcoin and digital-asset ETFs, making this directly relevant to compliance teams supporting exchange-listed crypto products. The extended timeline signals continued regulatory scrutiny of how digital-asset trust products are listed and governed.
Nasdaq Proposes Updated Generic Listing Standards for Commodity-Based Trust Shares
Nasdaq has filed Amendment No. 1 to a proposed rule change that would modify the generic listing standards for commodity-based trust shares under Rule 5711(d), with the SEC designating a longer review period. This is relevant to crypto compliance teams because commodity-based trust shares are frequently used as the vehicle for spot Bitcoin and other digital-asset ETFs, and changes to listing standards can affect how such products are structured, disclosed, and traded.
Cboe Amends Fee Schedule for Bitcoin ETF Index Options
Cboe Exchange has filed an immediately effective rule change updating transaction fees for its Bitcoin U.S. ETF Index Options (CBTX) and Mini Bitcoin U.S. ETF Index Options (MBTX). Compliance officers at broker-dealers and exchanges offering Bitcoin ETF-linked derivatives should note that fee structure changes can affect client disclosures, best-execution analysis, and product documentation.
SEC Reviews Listing Rules for Options on Multi-Crypto Asset Trust ETFs
MEMX LLC has filed a proposed rule change to establish listing criteria and withdrawal standards specifically for options on commodity-based trusts that hold multiple crypto assets. This signals continued regulatory infrastructure development around crypto ETF derivatives products. Compliance officers at exchanges, custodians, and broker-dealers should monitor this filing as it may expand the range of listed crypto-linked derivatives products and affect product approval, risk, and AML/KYC program scope.
SEC Approves Higher Position Limits for Bitcoin ETF Options on Cboe
Cboe Exchange has filed a rule change—effective immediately—to increase the position and exercise limits for options on the iShares Bitcoin Trust ETF. Higher position limits expand the scale at which institutional and retail participants can trade Bitcoin ETF derivatives, potentially increasing transaction volumes and associated AML/KYC monitoring obligations for brokers and clearing firms. Compliance teams at broker-dealers and exchanges should reassess whether their surveillance thresholds and large-trader reporting processes remain calibrated for the new limits.
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