Crypto regulation · Oct 2026

ADGM Becomes the Region's First International Financial Centre to Publish Dedicated Crypto Mining Guidance

In briefADGM publishes guidance on crypto mining as the region's first such guidance

Topic evidencethe Guidance treats crypto mining as a licensable commercial activity overseen by the RA and not a regulated financial service

SummaryThe Registration Authority of Abu Dhabi Global Market (ADGM) has published its Guidance on Crypto Mining Activities in and from ADGM. Issued under section 23 of the Commercial Licensing Regulations 2025, it treats crypto mining as a licensable commercial activity overseen by the RA rather than a regulated financial service. The guidance applies a technology-neutral approach covering Proof-of-Work, Proof-of-Stake and future consensus mechanisms.

SFC approves first-ever secondary trading of tokenised public funds

In briefSFC approves first-ever secondary trading of tokenised public funds

Topic evidenceThe Securities and Futures Commission (SFC) has approved the world’s first secondary trading of tokenised public funds on an SFC-licensed virtual asset trading platform (VATP).

SummaryThe SFC has approved the world's first secondary trading of tokenised public funds on an SFC-licensed virtual asset trading platform. Two SFC-authorised tokenised money market funds can now be traded around the clock. The SFC issued a circular in April 2026 setting out requirements and safeguards for secondary trading of tokenised funds.

SEC Announces Fiscal Year 2027 Examination Priorities

In briefSEC Sets Fiscal Year 2027 Examination Priorities

Topic evidenceRisks associated with evolving market infrastructure, including Treasury clearing reforms, tokenization, and related developments.

SummaryThe SEC's Division of Examinations released its annual report on examination priorities for fiscal year 2027. It covers investment advisers, broker-dealers, self-regulatory organizations, clearing agencies and other registrants, with focus areas including fiduciary duties, retail investor protection, private funds and credit, emerging technologies, and market infrastructure such as tokenization. The report states the list is not exhaustive and may be adjusted in response to market developments.

Agency Information Collection Activities: Proposed Information Collection; Submission for OMB Review; Applications for Licensing or Registration To Issue Payment Stablecoins Under the GENIUS Act

In briefOCC proposed information collection for applications to issue payment stablecoins under the GENIUS Act

Topic evidenceApplications for Licensing or Registration to Issue Payment Stablecoins Under the GENIUS Act

SummaryThe Office of the Comptroller of the Currency has proposed a new information collection covering applications to become a permitted payment stablecoin issuer or to register as a foreign issuer under the GENIUS Act, and has sent it to OMB for review. Comments are due by November 23, 2026. Applicants must submit an overview, a detailed business plan, and information on reserve, redemption, and risk management policies, with foreign issuers also providing evidence of comparable home-country supervision.

Agency Information Collection Activities: Proposed Information Collection; Submission for OMB Review; Reporting Forms and Instructions for Permitted Payment Stablecoin Issuers Subject to the Jurisdiction of the Office of the Comptroller of the Currency

In briefOCC notice seeks comment on reporting forms for permitted payment stablecoin issuers

Topic evidencethe OCC is proposing a new information collection titled ‘‘Reporting Forms and Instructions for Permitted Payment Stablecoin Issuers Subject to the Jurisdiction of the Office of the Comptroller of the

SummaryThe Office of the Comptroller of the Currency seeks public comment on new weekly and quarterly reporting forms (PS-01 and PS-02) and instructions for permitted payment stablecoin issuers and foreign payment stablecoin issuers, and requests a new OMB control number. The forms support compliance with the GENIUS Act final rule, OCC supervision, and transparency of issuers' financial condition. The notice also responds to comments on reporting format, coordination with other federal regulators, and data standards.

Implementing the Guiding and Establishing National Innovation for U.S. Stablecoins Act for the Issuance of Stablecoins by Entities Subject to the Jurisdiction of the Office of the Comptroller of the Currency

In briefImplementing the GENIUS Act for stablecoin issuance by OCC-supervised entities: final rule

Topic evidenceStablecoins are digital assets, i.e., digital representations of value recorded on a cryptographically secured distributed ledger

SummaryThe Office of the Comptroller of the Currency issued a final rule implementing the GENIUS Act for payment stablecoin issuance and related activities by entities under its jurisdiction. The rule takes effect January 18, 2027, and responds to roughly 328 public comments. It covers reserve asset management, redemption, and capital requirements, and denies two related petitions.

Agency Information Collection Activities; Submission for OMB Review; Comment Request; U.S. Information Returns and Related Forms, Schedules, Attachments, and Published Guidance

In briefTreasury notice seeking OMB review and public comment on information returns and related tax forms

Topic evidence1099–DA ...................................... Digital Asset Proceeds From Broker Transactions

SummaryThe U.S. Treasury Department submits to OMB a combined information collection covering 51 information return forms and their schedules. The notice explains that the IRS now estimates burden with the RAAS Taxpayer Burden Model rather than form-by-form. The list includes Form 1099-DA on digital asset proceeds from broker transactions. Comments are due November 23, 2026.

Self-Regulatory Organizations; Cboe EDGX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Rule 19.3 and Rule 19.4 To Establish Generic Listing Criteria and Continued Listing Standards for Options on Commodity-Based Trusts Holding Multiple Crypto Assets and To Permit the Listing of Options on Exchange-Traded Funds

In briefCboe EDGX proposes rule change for options on multi-crypto-asset trusts and exchange-traded funds

Topic evidenceNotice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Rule 19.3 and Rule 19.4 To Establish Generic Listing Criteria and Continued Listing Standards for Options on Commodity-B

SummaryCboe EDGX Exchange filed with the SEC a proposal to amend Rules 19.3 and 19.4. It would set generic listing criteria for options on commodity-based trusts holding multiple crypto assets, requiring each underlying crypto asset to have an average daily market value of at least $700 million over the last 12 months. The proposal also permits options on exchange-traded funds as defined in Rule 6c-11 and adds continued listing standards.

CFTC Secures Federal Court Orders Requiring Former Long Island Resident and His Firm to Pay Over $288 Million for Operating a Commodity Pool Ponzi Scheme

Topic evidencethe defendants held themselves out as an investment club providing investors with an affordable solution that offered easy access to cryptocurrency and Forex trading

SummaryThe CFTC announced that a federal court in the Southern District of New York ordered Eddy Alexandre and his firm EminiFX Inc. to pay about $228.6 million in restitution, $15 million in disgorgement, and a $45.1 million penalty. The court found EminiFX was a Ponzi scheme that marketed easy access to cryptocurrency and Forex trading. As of July 2026, over $98 million had been returned to more than 28,000 investors. Alexandre is serving a nine-year prison sentence in a parallel criminal case.

「AI時代を見据えたオンチェーン金融フォーラム」（第１回）議事録の公表

In briefMinutes of the 1st Meeting of the On-Chain Finance Forum for the AI Era

Topic evidenceステーブルコインやトークン化預金と国債などの様々なトークン化資産を組み合わせることで、より効率的な金融取引の実現などが可能となるほか

SummaryThe Financial Services Agency published the minutes of the first meeting of the On-Chain Finance Forum for the AI Era, held on September 30, 2026. The meeting covered the state of on-chain finance, reports from government ministries, the Bank of Japan and the Japanese Bankers Association, and discussion among expert members. The forum plans to compile an interim report and roadmap early next year.

Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Rule 19.3 and Rule 19.4 To Establish Generic Listing Criteria and Continued Listing Standards for Options on Commodity-Based Trusts Holding Multiple Crypto Assets and To Permit the Listing of Options on Exchange-Traded Funds

In briefCboe BZX proposes rules to list options on crypto-holding commodity trusts and ETFs under generic criteria

Topic evidenceCboe Options adopted Rules 4.3.06(a)(6) and 4.4.06(c) to establish initial and continued generic listing criteria for options on commodity-based trusts holding multiple crypto assets.

SummaryCboe BZX Exchange filed a proposed rule change with the SEC to amend Rules 19.3 and 19.4. It would set generic listing and continued listing standards for options on commodity-based trusts holding multiple crypto assets, and permit options on exchange-traded funds as defined in Rule 6c-11. The rules are substantively identical to those already approved for its affiliate Cboe Options. The filing was made as non-controversial and became immediately effective.

Regulation Crypto Asset Transactions and Regulation Crypto Asset Markets

In briefAdvance Notice on Rules for Crypto Asset Transactions and Markets

Topic evidenceRegulation Crypto Asset Transactions and Regulation Crypto Asset Markets

SummaryThe Commodity Futures Trading Commission issued an advance notice of proposed rulemaking seeking public comment on how Section 2(c)(2)(D) of the Commodity Exchange Act applies to crypto asset transactions and markets. The Commission intends to develop fit-for-purpose rules for retail commodity transactions involving crypto assets, which would be conducted on designated contract markets. The notice says the absence of rules has left market participants uncertain about compliance, with retail users relying mainly on state protections. Comments are due December 14, 2026.

3iQ Receives In-Principle Approval from Abu Dhabi’s IFC 12 Oct 2026

In brief3iQ Unit Gets In-Principle Approval for ADGM Category 4 Licence

Topic evidence3iQ Middle East Ltd, has secured In-Principle Approval (IPA) for a Category 4 license from the Financial Services Authority (FSRA) of ADGM

Summary3iQ Middle East Ltd, a UAE subsidiary of digital asset investment firm 3iQ, has received in-principle approval for a Category 4 licence from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM). The announcement says the step is part of 3iQ's effort to be regulated and present in major digital asset hubs worldwide.

ESMA seeks evidence on the use of tokenised collateral in central clearing

In briefESMA seeks evidence on tokenised collateral in central clearing

Topic evidenceESMA is seeking feedback on how these models would operate throughout the collateral lifecycle, particularly in the event of a clearing member default.

SummaryESMA has launched a Call for Evidence on whether and under what conditions EU central counterparties (CCPs) could safely use tokenised collateral. It examines tokenisation models across the collateral lifecycle, including how they would operate in the event of a clearing member default. Contributions are due by 15 January 2027, and ESMA will assess feedback in Q1 2027.

Proposed Agency Information Collection Activities; Comment Request

In briefNCUA proposes revising Call Report Form 5300 and seeks public comment

Topic evidenceRevisions include the collection of data on a credit union’s involvement with payment stablecoin activities.

SummaryThe National Credit Union Administration proposes revising the NCUA Form 5300 Call Report and its instructions and requests public comment. The revision adds a new Schedule J, Payment Stablecoin Activities, to collect data on credit unions' involvement with payment stablecoins. The proposed changes would take effect with the March 31, 2027 report date. Comments are due by December 8, 2026.

Agency Information Collection Activities; Proposed Collection; Comment Request; Information-Sharing Initiative: Digital Assets Criteria Form

In briefTreasury seeks comment on extension of Digital Assets Criteria Form for information-sharing

Topic evidenceInformation-Sharing Initiative: Digital Assets Criteria Form. OMB Control Number: 1505–0286. Type of Review: Extension without change of a currently approved collection.

SummaryThe U.S. Treasury Department requests public comment on extending, without change, an information collection for its Digital Assets Criteria Form under the Information-Sharing Initiative. The form gathers details on an applicant's identity, legal status, digital asset function, regulatory status and cybersecurity capacity so Treasury can decide whether to grant access to its non-public cyber threat information. Comments are due December 8, 2026.

ESMA sets out supervisory expectations on services related to unauthorised stablecoins

In briefESMA sets out supervisory expectations on services related to unauthorised stablecoins

Topic evidenceCrypto-asset service providers (CASPs) authorised under MiCA should cease providing services related to non-MiCA-compliant stablecoins to clients in the European Union.

SummaryThe European Securities and Markets Authority has issued an opinion on crypto-asset services involving stablecoins (ARTs and EMTs) that do not comply with MiCA. It says MiCA-authorised crypto-asset service providers should stop providing services related to such non-compliant stablecoins to EU clients, and that national authorities should ensure appropriate controls are in place. Remaining legacy exposures should be remediated within three months of publication.

無登録で暗号資産交換業を行う者の名称等の公表

In briefPublic notice of names of unregistered virtual currency exchange operators

Topic evidence暗号資産交換業者は金融庁・財務局への登録が必要です。利用する際は登録を受けた事業者か確認してください。

SummaryThe Financial Services Agency published lists of domestic and overseas operators that conducted virtual currency exchange business without registration and were issued warning letters, with their names, addresses and business details. The FSA notes the listings do not necessarily reflect current operations and names or addresses may no longer be accurate. Virtual currency exchange operators must register with the FSA or Finance Bureau, and users are urged to confirm registration before use.

Self-Regulatory Organizations; Investors Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Establish Listing Standards and Withdrawal Criteria for Options on Commodity-Based Trusts Holding a Single Crypto Asset or Multiple Crypto Assets and To Amend Rules Regarding Position and Exercise Limits for Options on iShares Bitcoin Trust ETF

In briefSEC notice of IEX rule change establishing listing and withdrawal standards for options on crypto-asset commodity-based trusts and amending position and exercise limits for IBIT options

Topic evidenceto establish listing criteria and withdrawal standards for options on commodity-based trusts that hold a single crypto asset or multiple crypto assets

SummaryThe SEC published notice of a rule change filed by Investors Exchange LLC (IEX). The change sets listing criteria and withdrawal standards for options on commodity-based trusts holding one or more crypto assets, and amends position and exercise limits for options on the iShares Bitcoin Trust ETF (IBIT). The rule change became effective upon filing, and comments are due by October 27, 2026.

Economic Secretary to the Treasury speech for UK Digital Assets Week

In briefEconomic Secretary to the Treasury's speech at UK Digital Assets Week

Topic evidenceRegulations I took through in February bring a broad range of cryptoasset activities within the FCA regulatory perimeter from 25 October 2027.

SummaryThe Economic Secretary to the Treasury gave a speech at UK Digital Assets Week arguing that the UK should move quickly to digitise its financial markets. The speech notes that HSBC and ClearToken have received approval to operate live digital securities depositories in the Digital Securities Sandbox, and that the government's Digital Gilt Instrument (DIGIT) is planned for a pilot issuance in the first quarter of 2027. It also outlines progress on the regulatory framework for cryptoassets and stablecoins.

ADGM FSRA Invites Industry Feedback on Proposed DeFi Risk Management Guidance

In briefADGM regulator seeks feedback on proposed DeFi risk management guidance

Topic evidenceproposed DeFi Risk Management Guidance (the Guidance) which sets out the FSRA’s expectations for how Authorised Persons and Recognised Bodies should identify, assess monitor and manage risks arising f

SummaryThe Financial Services Regulatory Authority (FSRA) of ADGM has published a Consultation Paper on proposed guidance for managing risks from decentralised finance (DeFi). The guidance sets out expectations for how authorised persons and recognised bodies should identify, assess, monitor and manage risks from their DeFi engagements, covering governance, due diligence, financial crime controls and client asset safeguards. Comments are due by 30 November 2026 and may be sent to fsra.consultation@adgm.com.

Proposal of Special Measure Regarding Convertible Virtual Currency Mixing, as a Class of Transactions of Primary Money Laundering Concern; Withdrawal

In briefWithdrawal of the proposed special measure treating convertible virtual currency mixing as a class of transactions of primary money laundering concern

Topic evidenceFinCEN is withdrawing its finding that international CVC Mixing is a class of transactions of primary laundering concern, and the proposed rule, published on October 23, 2023

SummaryFinCEN has withdrawn its October 2023 finding and proposed rule that would have treated cross-border convertible virtual currency (CVC) mixing as a primary money laundering concern under Section 311 of the USA PATRIOT Act, requiring enhanced recordkeeping and reporting. The withdrawal reflects commenters' concerns that the broad definition of CVC mixing could chill legitimate activity and impose a heavy reporting burden on financial institutions. FinCEN says it will continue monitoring CVC mixer activity.

Requirements for Certain Transactions Involving Convertible Virtual Currency or Digital Assets; Withdrawal

In briefUS Rule Withdrawal on Crypto Mixing and Unhosted Wallet Transactions

Topic evidenceFinCEN is withdrawing its finding that international CVC Mixing is a class of transactions of primary laundering concern, and the proposed rule, published on October 23, 2023

SummaryFinCEN withdrew a 2023 proposed rule targeting cross-border crypto mixing transactions. It cited commenters' concerns that the broad definition of mixing could chill legitimate activity and impose a heavy reporting burden. FinCEN said it will keep monitoring mixer activity for money laundering indicators. It also withdrew a 2020 proposal on transactions involving unhosted wallets.

Hong Kong Monetary Authority and Bank Negara Malaysia Strengthen Bilateral Cooperation

In briefHKMA and Bank Negara Malaysia agree to strengthen bilateral cooperation

Topic evidenceEstablish a joint policy-focused workstream to promote compliant cross-border stablecoin use cases between Hong Kong and Malaysia.

CFTC Seeks Public Comment on Advanced Notice of Proposed Rulemaking Relating to Regulation Crypto Asset Transactions and Regulation Crypto Asset Markets

In briefCFTC Seeks Comment on Early Proposal for Crypto Asset Transaction and Market Rules

Topic evidenceCommission intends to use the information and comments received to inform potential future agency action, such as a rulemaking, with respect to section 2(c)(2)(D) and CTXs.

SummaryThe Commodity Futures Trading Commission published an Advanced Notice of Proposed Rulemaking seeking public comment on a planned framework for retail crypto asset commodity transactions (CTXs). The notice asks how to prevent abusive practices, share crypto-specific industry best practices, and codify a “crypto asset market” designated contract market registration category. Comments are due within 60 days of Federal Register publication.

Proposal of Special Measure Prohibiting the Transmittal of Funds Regarding Transactions Involving the A7 Network's Sub-Agents

In briefProposed special measure banning fund transmittals tied to A7 Network sub-agent transactions

Topic evidenceTreasury Sanctions Cryptocurrency Exchange and Network Enabling Sanctions Evasion and Cyber Criminals

SummaryFinCEN proposes a finding that transactions involving non-U.S. companies controlled by the A7 Network are a class of primary money laundering concern linked to Russian illicit finance. The notice proposes prohibiting covered financial institutions from certain fund transmittals involving these transactions. Written comments are due November 4, 2026.

SEC Proposal Would Address How Investment Advisers and Funds Can Custody Crypto Assets Under the Federal Securities Laws

In briefSEC proposes rules on how advisers and funds may custody crypto assets

Topic evidenceThe Securities and Exchange Commission today proposed new rules and amendments to provide a tailored framework for the custody of crypto assets for registered investment advisers and regulated funds

SummaryThe SEC proposed new rules and amendments creating a framework for registered investment advisers and regulated funds to custody crypto assets. The proposal would allow self-custody of crypto assets under certain conditions and permit state trust companies to act as custodians for client and regulated fund crypto assets. The public comment period is 60 days after publication in the Federal Register.