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The SEC wants to let credentials and a new exam, not just wealth, determine who can invest in private companies For decades, the velvet rope around private markets has had one bouncer: your bank …

The SEC wants to let credentials and a new exam, not just wealth, determine who can invest in private companies For decades, the velvet rope around private markets has had one bouncer: your bank balance. The SEC now wants to hire a second one who checks your knowledge instead. Coinbase CEO Brian Armstrong is a fan. On October 11, 2026, he publicly backed the agency’s plan to open accredited investor status to more Americans, arguing that retail investors have missed out on private markets for far too long. What the SEC is proposing On September 30, 2026, the US Securities and Exchange Commission unveiled a significant overhaul of the rules that decide who counts as an accredited investor. That label matters because it is the ticket into private deals, the early-stage rounds that happen long before a company ever lists on an exchange. Right now, qualifying mostly comes down to money. You need a net worth of $1 million, excluding your primary residence, or income of $200,000 individually ($300,000 jointly) over the past two years. The new proposals would add pathways that have nothing to do with how rich you are. Holders of professional credentials such as the CPA, CFA, and CFP, along with certain FINRA licenses, could qualify under the plan. Advertisement There is also a do-it-yourself option. The SEC has proposed a new FINRA-administered exam of approximately 75 questions, costing approximately $100, with a passing result valid for 10 years. The package goes beyond individual eligibility. It includes related proposals for regulated funds, designed to widen participation while keeping investor protections in place. AI, tech, and the markets they move—in one daily briefing. Daily. Free. Join 34,000+ readers across crypto, finance, and policy. Email address Subscribe free We respect your privacy. Unsubscribe anytime. Nothing is final yet. The public comment deadline for the accredited investor notices is December 4, 2026, which means the proposals could still change before any rule takes effect. Armstrong’s case for merit over money Armstrong framed the proposals as a “huge step forward” in democratizing private market access. His core argument is that wealth thresholds have shut out a large group of people who could reasonably evaluate early-stage opportunities. That position lines up neatly with the agenda of SEC Chairman Paul Atkins. Atkins has emphasized expanding individual participation in private capital markets while still guarding against investment fraud and other risks to investors. Why the wealth test has drawn criticism Critics of the current rules point to a structural shift in how companies grow. Firms are staying private longer, which means much of their value creation happens before ordinary investors can buy a single share. The wealth-based tests were meant as a proxy for sophistication. The new proposals signal a gradual move toward knowledge-based assessments as a more direct measure. What this means for investors and Coinbase For Coinbase, the interest is not purely philosophical. According to the research findings, Coinbase could strategically position itself to facilitate tokenized offerings and pre-IPO investments under a clearer regulatory framework. That is a potential business opportunity, not an announced product. There are risks worth watching. Private investments are typically illiquid, harder to value, and more exposed to fraud than public stocks, which is exactly why Atkins keeps pairing access with protection in his messaging. The next milestone is December 4, 2026, when the comment window closes.

Hong Kong is getting its second spot Solana fund, giving investors another regulated route to SOL through a brokerage account Hong Kong is about to get a second spot Solana ETF. Pando Finance’s fund …

Hong Kong is getting its second spot Solana fund, giving investors another regulated route to SOL through a brokerage account Hong Kong is about to get a second spot Solana ETF. Pando Finance’s fund is scheduled to start trading on the Hong Kong Stock Exchange on October 13, 2026, under the ticker 2831.HK. The fund is a passive vehicle. It tracks the CME CF Solana Dollar Index, specifically the variant built on the Asia Pacific closing price. Subscriptions were open from October 6 to 12. The indicative issue price sits between HKD 7.8 and 8.0 per share. Shares trade in lots of 100. That puts the entry ticket at approximately HKD 800 at issue. The management fee is 0.6%. The estimated ongoing charges ratio is higher, at 1.6%, so the total cost of holding the fund runs well above the headline management fee. Advertisement The fund will not pay dividends. It also will not use leverage, so investors get plain, one-to-one exposure to the index. An HKEX circular dated October 9, 2026, confirmed the fund’s eligibility along with its custody and settlement arrangements. Pando Finance holds the licenses needed to allocate 100% of a portfolio to virtual assets, which is what allows a fully crypto-backed fund like this to exist. The news moving money, markets, and the world—before your day starts. Daily. Free. Join 34,000+ readers across crypto, finance, and policy. Email address Subscribe free We respect your privacy. Unsubscribe anytime. Pando’s third act, Hong Kong’s second Solana fund This is Pando Finance’s third spot virtual asset ETF. The firm previously launched Bitcoin and Ethereum products, so the Solana fund extends an existing lineup rather than marking a debut. It is also not first to market with Solana in Hong Kong. Huaxia already launched a spot Solana ETF on the exchange, trading under 03460. Globally, according to a Solana official statement, spot Solana ETFs worldwide hold about $1.9 billion in net assets and have drawn around $1.6 billion in cumulative inflows. What this means for investors and the market For institutions with mandates that bar direct crypto holdings, an exchange-listed fund from a licensed manager can be the difference between “not allowed” and “approved.” With Huaxia already in the market, the two Solana funds will be compared on cost, trading volume and tracking accuracy. Pando’s 1.6% estimated ongoing charges will be a key data point in that comparison. Pricing off the Asia Pacific close aligns the fund’s valuation with Hong Kong trading hours. The lack of dividends means returns depend entirely on price movement minus fees.

The crypto investment manager's UAE subsidiary moves closer to regulated operations in ADGM, though full permissions still depend on meeting further conditions 3iQ Corp. is one step closer to running a regulated business in …

The crypto investment manager's UAE subsidiary moves closer to regulated operations in ADGM, though full permissions still depend on meeting further conditions 3iQ Corp. is one step closer to running a regulated business in Abu Dhabi. On October 12, 2026, the crypto investment manager announced that its UAE-based subsidiary, 3iQ Middle East Ltd, received in-principle approval for a Category 4 license. The green light comes from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM). Full operational permissions will depend on 3iQ Middle East meeting additional regulatory conditions. What a Category 4 license actually covers A Category 4 license allows 3iQ Middle East to act in an advisory role. It also permits the firm to provide non-discretionary investment arrangements, meaning the advisor can recommend and arrange deals, but the client retains the final say on what gets bought or sold. 3iQ frames the approval as part of a broader strategy to establish regulated operations in key digital asset markets around the world, viewing its Abu Dhabi entry as a vital piece of serving accredited investors globally. Advertisement The Further partnership and a $100 million head start The license news did not arrive in isolation. It follows a strategic partnership between 3iQ and Further, a local digital asset investment manager. The goal of that tie-up is to improve institutional access to digital assets through 3iQ’s Managed Account Platform, known as QMAP. QMAP has already gathered $100 million in seed capital linked to sovereign investment. The news moving money, markets, and the world—before your day starts. Daily. Free. Join 34,000+ readers across crypto, finance, and policy. Email address Subscribe free We respect your privacy. Unsubscribe anytime. Why Abu Dhabi, and why it matters 3iQ is not a newcomer to regulated crypto products. The company launched the first Bitcoin and Ethereum ETFs on a major stock exchange. Arvind Ramamurthy, ADGM’s Chief Market Development Officer, said the in-principle approval reflects rising interest from international firms in the region’s digital asset offerings. What this means An advisory and arranging license in Abu Dhabi, combined with the QMAP platform and the Further partnership, gives the firm a local base to court institutional clients in the region. The license is likely to strengthen investor confidence in Abu Dhabi’s digital asset market. In-principle approval is a milestone, not a finish line. Until 3iQ Middle East satisfies the remaining regulatory conditions, it cannot operate with full permissions, and timelines for that process were not specified. 3iQ’s entry may encourage additional firms to pursue similar moves into the UAE’s digital asset space.

The Cyprus-based IT distributor is leaning into server sales for AI projects after shares rose approximately 476% this year Asbis Enterprises spent years as the kind of company most investors scrolled past. It distributes …

The Cyprus-based IT distributor is leaning into server sales for AI projects after shares rose approximately 476% this year Asbis Enterprises spent years as the kind of company most investors scrolled past. It distributes IT hardware across Europe, the Middle East and Africa. Then AI showed up. Now the Limassol-based distributor is steering its business toward data centers and AI infrastructure. Shares listed on the Warsaw Stock Exchange have climbed approximately 476% in 2026. That surge has pushed the company’s market capitalization above $2.5 billion. The numbers behind the rally In the second quarter of 2026, Asbis posted revenue of $1.69 billion, up 79% from the same period a year earlier. Net income hit a record $44.3 million for the quarter, a 265% jump year over year. Advertisement Revenue for the first half of 2026 reached $2.97 billion, a 76% increase, while net profit came in at $80.6 million. The servers and server blocks segment brought in $723.4 million in the second quarter, which works out to 43% of total revenue. That segment grew 285% year over year. AI, tech, and the markets they move—in one daily briefing. Daily. Free. Join 34,000+ readers across crypto, finance, and policy. Email address Subscribe free We respect your privacy. Unsubscribe anytime. NVIDIA GPU servers made up approximately 80% of server sales in the quarter. Estimated revenue for August 2026 reached $604 million, a 91% increase from a year earlier. From smartphones to server racks Asbis built much of its business on more familiar product lines, including smartphones. AI-related infrastructure has taken over as the primary growth engine. NVIDIA named Asbis a “Star Performer” for Eastern Europe in 2026. In September 2026, Asbis received the AMD Datacenter Peak Explorer Award. Management has pointed to incoming orders from several regions, including Western Europe, as evidence that AI demand has staying power. The company also reports a server pipeline valued at $860 million. What this means for Asbis and its shareholders Roughly four out of five server dollars depend on NVIDIA products, so Asbis is effectively tied to the supply, pricing and product cycles of a single vendor. Watch monthly revenue estimates, how much of the $860 million pipeline converts into actual sales, and whether server revenue keeps growing as a share of the total. Also worth watching is whether demand from Western Europe, which management has flagged, becomes a meaningful contributor.

Saudi authorities have released CCTV footage capturing a devastating attack on Riyadh’s King Khalid International Airport that occurred on October 10, resulting in 13 fatalities and over 300 injuries. The strike, which has been …

Saudi authorities have released CCTV footage capturing a devastating attack on Riyadh’s King Khalid International Airport that occurred on October 10, resulting in 13 fatalities and over 300 injuries. The strike, which has been claimed by Yemen’s Houthi movement, has escalated tensions in the region, prompting concerns over the security of Saudi airspace. The release of this footage highlights the impact on both civilians and infrastructure, as well as the ongoing threats faced by the country. Markets have reacted to these developments, with a notable increase in the implied probability of a formal closure of Saudi airspace. Key Takeaways The release of CCTV footage appears to have heightened security concerns, suggesting a potential formal closure of Saudi airspace. Market pricing indicates a 7.5% probability of airspace closure by November 1, with a recent increase from 6%. The January 1, 2027, market shows an 18% probability, reflecting an expectation of continued regional instability. What to Watch The Saudi General Authority of Civil Aviation (GACA) and Saudi Air Navigation Services (SANS) are key actors to monitor for any formal announcements regarding airspace closure. Further Houthi attacks on Saudi infrastructure could influence market expectations. Additionally, international responses, particularly from aviation safety agencies like the FAA and EASA, may impact market dynamics. Watch for any signs of de-escalation or ceasefire announcements, which could shift market pricing towards a NO outcome.

This article examines how recent events may relate to prediction market pricing. It reflects interpretive analysis of publicly available information and is provided for informational purposes only. Watch for any statements or actions from …

This article examines how recent events may relate to prediction market pricing. It reflects interpretive analysis of publicly available information and is provided for informational purposes only. Watch for any statements or actions from Iran’s Supreme Leader, Ayatollah Ali Khamenei, or the judiciary that may further indicate internal political shifts. Any public support or criticism from key figures like Mojtaba Khamenei or Ahmad Vahidi could influence market perceptions about Pezeshkian’s political future. Developments in Iran’s domestic policies or international negotiations may also impact the president’s standing and market sentiments. Iranian President Masoud Pezeshkian recently stated that objections from the judiciary could impede government appointments. This statement underscores the judiciary’s influential role in Iran’s political framework, operating under the broader authority of Supreme Leader Ayatollah Ali Khamenei. The judiciary’s power to review and block appointments highlights ongoing constraints on presidential authority, suggesting potential friction between Iran’s executive and judicial branches. This development occurs amid broader political dynamics, with markets observing potential implications for Pezeshkian’s leadership stability. Disclaimer This article contains analysis of publicly available information and market data and is for informational purposes only. It does not constitute investment advice or a recommendation to buy, sell, or hold any asset or contract. Content may include AI-assisted interpretation and may be incomplete or subject to change. Market conditions may evolve rapidly, and the timing of information may affect how it is interpreted. Market participants may act on similar information at or around the time it becomes available. You are solely responsible for any decisions made based on this content. For additional details, please review our full Disclaimer & Risk Disclosure.

Anthropic, the artificial intelligence lab known for its Claude model family, has reportedly entered into a multiyear cloud-services agreement with IREN, a data-center operator formerly involved in bitcoin mining. This development, reported by The …

Anthropic, the artificial intelligence lab known for its Claude model family, has reportedly entered into a multiyear cloud-services agreement with IREN, a data-center operator formerly involved in bitcoin mining. This development, reported by The Information, has not yet been confirmed by either company. IREN had previously mentioned a contract with an unnamed “leading frontier AI lab,” which is now believed to be Anthropic. This agreement aligns IREN with Anthropic’s network of infrastructure partners, including AWS and Google, as the company continues its expansive data-center initiatives. Anthropic was last valued at $965 billion following a significant funding round. Key Takeaways The reported deal between Anthropic and IREN suggests a strengthening of Anthropic’s infrastructure capabilities, potentially bolstering its operational stability. Market pricing indicates that this development may be consistent with an increase in Anthropic’s valuation as it continues to expand its technological reach. Anthropic’s recent valuation and strategic partnerships, including this potential deal, appear to support scenarios where the company’s market value could rise further. What to Watch Observers should monitor any official confirmation from Anthropic or IREN regarding the cloud-services deal, as such announcements could influence market sentiment. Additionally, any updates on Anthropic’s infrastructure expansion or new strategic initiatives may indicate further impacts on its valuation trajectory. Market participants will likely pay close attention to Anthropic’s financial activities and partnerships as the end of the year approaches, given the potential implications for its market valuation.

Circle has minted approximately $3.5 billion worth of USDC on the Solana blockchain over the past week, as reported by @SolanaFloor. This substantial issuance adds to the overall supply of the stablecoin on the …

Circle has minted approximately $3.5 billion worth of USDC on the Solana blockchain over the past week, as reported by @SolanaFloor. This substantial issuance adds to the overall supply of the stablecoin on the network, suggesting heightened activity and liquidity. While this development could indicate increased use of USDC on Solana, it does not necessarily confirm that all minted tokens have entered circulation or signify a direct rise in market demand. Advertisement The minting of USDC by Circle, a prominent player in the stablecoin market, reflects its ongoing commitment to expanding the availability of its dollar-pegged token across various blockchain networks. As of October 8, 2026, Circle reported a global USDC circulation of about $73 billion. The recent minting on Solana aligns with broader trends of leveraging the blockchain’s speed and low transaction costs to facilitate digital asset transactions. Market participants have taken note of this significant minting activity, which may impact Solana’s market dynamics. Observers suggest that increased liquidity could potentially influence Solana’s price, though the ultimate effect remains uncertain. Key Takeaways The recent minting of $3.5 billion USDC on Solana by Circle suggests increased liquidity and network activity. This development aligns with Circle’s strategy to expand USDC’s availability across various blockchains, contributing to its $73 billion global circulation. Market participants are considering the implications of this issuance on Solana’s price, with potential for positive influence, though the outcome is not guaranteed. What to Watch Observers will be watching for any immediate impacts on Solana’s market price, especially in relation to the $190 price target for October. Key indicators include any announcements from Solana Labs or significant changes in volume and liquidity. Additionally, regulatory developments or further integration announcements involving Solana and USDC could provide further clarity on the network’s future performance.

Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial …

Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Singapore, October 12, 2026 – From October 6 to 8, the global crypto industry turned its attention to Singapore for TOKEN2049, a major international industry event. Taking advantage of the gathering, HTX pursued a multifaceted approach encompassing global industry engagement, ecosystem development, and brand awareness. HTX Ventures exhibited at TOKEN2049, where its booth welcomed a steady stream of visitors. HTX DAO hosted “Future Night” and “HTX DAO Reunion,” bringing together industry perspectives and community voices. Meanwhile, a private industry dinner provided an opportunity for invited industry participants, ecosystem contributors, and partners to connect and exchange views. From the public stage of a global summit to in-depth exchanges with ecosystem participants and face-to-face conversations with industry peers, HTX’s presence at TOKEN2049 reflected diverse efforts in industry networking, ecosystem development, and partnership building. Beyond providing opportunities for international industry engagement, these events reflected HTX’s ongoing efforts to strengthen industry connections and foster ecosystem collaboration. Taking the Global Crypto Stage: Strong Visitor Interest at the HTX Ventures Booth As a major annual event for the global crypto industry, TOKEN2049 brings together project teams, investment firms, developers, crypto exchanges, and industry builders from around the world. It serves as an important platform for tracking industry trends, forging business connections, and exploring opportunities for global collaboration. From October 7-8, HTX Ventures, HTX’s global investment arm, exhibited at TOKEN2049 at the Sands Expo and Convention Center in Singapore, with its booth located at Level 5, PB5-47 and PB5-48. Throughout the event, the exhibition floor remained busy, drawing a steady stream of industry participants. The HTX Ventures booth welcomed numerous visitors, offering an engaging, interactive brand experience through brand displays, on-site community activities , and branded merchandise. These activities encouraged visitors to stop by and connect with the team, bringing the HTX brand into face-to-face interactions with members of the global crypto community. Meanwhile, Justin Sun, Advisor to HTX, attended related events and delivered a speech before visiting the HTX Ventures booth to engage with the team and other industry participants, further strengthening HTX’s connections with the global crypto industry. For the crypto industry, the value of an international summit lies not only in raising brand awareness but also in building meaningful connections with industry participants. By combining booth displays, on-site activities, and industry engagement, HTX Ventures brought the brand closer to the global crypto community, creating more opportunities for connections across the investment ecosystem, project discussions, and potential partnerships. From steady visitor traffic at its booth to a diverse range of on-site activities, HTX Ventures maintained a strong presence at TOKEN2049, providing HTX with another valuable opportunity to strengthen its connections across the global crypto industry. From Industry Trends to Ecosystem Development: HTX DAO Advances Community Co-Building While the TOKEN2049 booth served as HTX’s brand showcase to the global crypto industry, the series of events hosted by HTX DAO took these conversations further, exploring broader topics such as industry trends, community building, and ecosystem development. On the evening of October 6, HTX DAO hosted the “Future Night” event in Singapore. Molly, an HTX DAO ambassador, shared the latest developments in ecosystem mechanisms, community building, and the on-chain ecosystem. Justin Sun, a core supporter of HTX DAO, delivered a video address sharing his perspectives on trends in the crypto industry and the future development of the digital economy. Sun noted that the crypto industry is deepening its ties with traditional finance, driving the continued digital transformation of global financial infrastructure. AI is changing how wealth is created, while crypto and digital finance are reshaping how wealth is held and transferred. He further noted that stablecoins could play a greater role in global payments and settlements, while the use of traditional assets such as bonds, funds and gold on-chain will continue to evolve. As AI agents become increasingly involved in economic activity, demand for digital identities, account infrastructure, and the ability to transact autonomously is also likely to grow. In his view, the long-term value of technology lies in its ability to deliver tangible productivity gains. The free flow of value in the digital world will be a key trend to watch over the next decade. On ecosystem development, Molly said HTX DAO is exploring potential token utility and ecosystem applications, alongside other initiatives aimed at supporting the development of its ecosystem. For community building, HTX DAO plans to establish regional community hubs in the fourth quarter, enabling members to organize events, exchange ideas, and contribute to the development of the community’s culture. Nearly 200 active volunteers are already contributing to these efforts on their own initiative. To strengthen its on-chain ecosystem, HTX DAO is engaging university developers from around the world through initiatives such as hackathons. Several projects are currently being explored or developed, including potential applications within the $HTX ecosystem. Molly emphasized that ecosystem development requires a long-term commitment. HTX DAO will continue to strengthen its infrastructure, foster an active community, and drive the adoption of ecosystem applications. As an ecosystem participant, HTX continues to gather user feedback and explore improvements to its platform and user experience, with a view to better understanding and responding to evolving user needs. From discussions on industry trends to practical initiatives in community development and the on-chain ecosystem, the Future Night event highlighted HTX DAO’s sustained commitment to long-term ecosystem development health and provided a platform for global community members and industry contributors to connect and collaborate. III. From Online Communities to In-Person Gatherings: The HTX DAO Reunion Strengthens Ecosystem Connections Ecosystem growth depends not only on mechanisms and technology, but also on trust among community members and sustained collaboration among participants united by shared goals. From October 6 to 8, HTX DAO hosted the HTX DAO Reunion, bringing together industry representatives, ecosystem partners, and community members aboard a yacht for face-to-face discussions in an informal setting. Unlike traditional conferences built around structured agendas and formal presentations, the event created a more informal setting for participants to exchange views on industry trends, community development, and potential collaborations, fostering a deeper mutual understanding. For a DAO ecosystem to develop sustainably, community means more than online discussions and on-chain governance. It also depends on meaningful personal connections, ongoing exchanges, and active participation. By creating more diverse opportunities for in-person engagement, HTX DAO is strengthening its ties with community members and partners, opening up new possibilities for community-driven development, ecosystem collaboration, and future partnerships. From themed discussions to open exchanges, and from online participation to in-person engagement, HTX DAO is exploring diverse approaches to community building and continually strengthening connections among ecosystem participants. VIP Industry Gathering: Strengthening Face-to-Face Engagement with Ecosystem and Industry Partners Alongside public engagement with the global industry, HTX also made strengthening relationships with industry peers and partners a priority during Singapore Week. During the week, HTX hosted a private industry dinner attended by invited industry representatives, ecosystem contributors, and partners. Compared with large industry summits, private gatherings provide a more personal setting for direct conversations. These face-to-face interactions allow HTX to listen more closely to partners and exchange views on industry developments, market developments and potential future collaborations. As the crypto industry evolves, fostering industry relationships requires an understanding of ecosystem developments, effective communication, and the cultivation of long-term partnerships. Face-to-face engagement helps build mutual understanding, laying the groundwork for expanded collaboration across the sector. From industry discussions at the global summit to in-depth conversations in private settings, HTX is continuously strengthening its relationships with industry partners through engagement at multiple levels. Driving Long-Term Growth Through Global Engagement: HTX Expands Ecosystem Collaboration Throughout TOKEN2049 Singapore Week, HTX engaged across multiple fronts, including global industry dialogue, ecosystem development, brand visibility, and industry networking. HTX Ventures leveraged the international summit to expand its industry network and boost brand engagement through booth activities and in-person interactions. HTX DAO explored industry trends, community building, and the on-chain ecosystem, strengthening connections with community members and developers. Meanwhile, a series of in-person events and private industry gatherings provided further opportunities for HTX to engage with industry peers, ecosystem contributors, and partners. While each initiative served a different purpose, they all contributed to the same overarching goal of building broader, deeper, and more enduring industry relationships as the global crypto industry continues to evolve. For participants in the crypto industry, brand influence stems not only from market visibility but also from sustained engagement in industry development, responsiveness to user needs, and efforts to foster collaboration among communities, projects, and partners. Looking ahead, HTX intends to continue its engagement with industry participants, ecosystem contributors, and partners, while exploring opportunities for ecosystem collaboration and platform improvements, subject to applicable regulatory requirements. By strengthening connections among global communities, developers, projects, and industry partners, HTX aims to explore new opportunities for the development of digital finance and blockchain ecosystems. From the global industry stage to the front lines of ecosystem development, HTX will continue to bring industry participants together through open collaboration and drive ecosystem growth through long-term commitment. Media inquiries, please contact glo-media@htx-inc.com.

Former acting chairman of the Commodity Futures Trading Commission Caroline Pham says Washington does not need to pass new laws regulating digital assets. Caroline Pham spoke at TOKEN2049 Singapore about the Commodity Exchange Act. …

Former acting chairman of the Commodity Futures Trading Commission Caroline Pham says Washington does not need to pass new laws regulating digital assets. Caroline Pham spoke at TOKEN2049 Singapore about the Commodity Exchange Act. Read More: He Says His Binary Options Strategy Brings In $2,000 a Week—Watch Him Trade Live Her statements follow proposed CFTC rules for retail crypto derivatives trading released on October 5. Proposed legislation related to crypto, the CLARITY Act, stalled in September. Why Existing CFTC Authority Matters for Crypto Pham said that the broad commodity definition in the law includes electronic goods and other new products. Onions and movie tickets are two products specifically exempt from the law. Pham also said artificial intelligence computer products may be included. There are limits to commodity classification; even if the underlying is classified as a commodity, not all futures contracts involving that underlying are regulated by the CFTC. Other regulated activities and investment-related scams affect consumers. JUST IN: Former #USA CFTC Acting Chair Caroline Pham says the agency’s jurisdiction covers ‘almost everything’ and can regulate most #Crypto activity without new legislation. — Crypto News (@News_crypto) October 12, 2026 Current CFTC chair Michael Selig also pointed out differences between authorities granted by current law and those that would require new legislation. Congress could enact a law requiring all exchanges to register, although existing laws may regulate some current retail market participants. The October 5 rule proposals, Regulation CTX and Regulation CAM, would impose requirements on leveraged and margined crypto asset transactions and investments by retail investors. Regulatory options for these activities include registered crypto asset marketplaces and creation of a new designated contract market. These rule proposals are open for comment and may change. Read More: IRS Clears Crypto Trusts to Stake Assets Without Losing Key Tax Status Pham proposed additional regulations for crypto exchanges to protect American consumers. Other policy actions by Pham include launching the Crypto Sprint program in August 2025, covering spot trading, perpetuals and SEC coordination. Tokenized Deposits and Stocks Enter the Debate Pham also questioned whether stablecoins alone can serve wholesale settlement. She estimated that immediately settling a full trading day onchain might require roughly $15 trillion in cash, not an official requirement. She favors tokenized bank deposits for institutions because they could preserve banking relationships and net settlement practices. Stablecoins, in her view, remain useful when counterparties need simultaneous asset and payment transfers. BREAKING: 🇺🇸 CFTC Chair Mike Selig says he will regulate crypto without Congress to stop another FTX. — Ash Crypto (@AshCrypto) October 9, 2026 MoonPay, where Pham serves as chief legal and administrative officer, launched MoonPay Trade in June 2026 to support institutional access to blockchain networks and digital asset settlement. Looking ahead, Pham predicted meaningful trading in genuine tokenized shares on NYSE and Nasdaq by around 2028. Unlike synthetic price-tracking tokens, these instruments would retain shareholder rights, including voting. Read More: Trump Adviser Calls for Powell Exit as Bitcoin Watches Fed’s Next Move The SEC granted conditional, temporary relief for eligible tokenized stock venues in September. Nasdaq is working with Kraken parent Payward on equity tokens targeted for the second quarter of 2027, while an ICE–OKX initiative seeking approval covers shares in 63 NYSE-listed companies. Both require regulatory clearance. Pham also suggested clearer rules could encourage NFTs for memberships and loyalty programs. Her forecasts are not confirmed launch commitments.