Zcash price rebounded toward $847 on Sept. 3 after buyers defended the $780–$800 liquidity zone, but overbought momentum and heavy leverage leave ZEC exposed to another sharp swing.

Zcash price rebounds after testing $780

According to data from crypto.news, Zcash (ZEC) price traded near $847 at the time of writing, recovering from an intraday low around $804 and extending a rebound that began after buyers stepped in near $780. The daily candle showed a gain of roughly 3.8%, reversing part of the previous session’s decline.

The recovery follows a volatile pullback from the $880–$890 area. ZEC had climbed rapidly from approximately $500 in the second half of August, with the advance accelerating once it cleared the previous resistance zone near $600.

Profit-taking emerged after the price reached an eight-month high close to $890. ZEC subsequently fell toward $780 before stabilizing, leaving it in a broad consolidation range between approximately $780 and $890.

The wider move remains strong despite the recent turbulence. Zcash is trading well above its 20-day simple moving average at $728, the 50-day SMA at $592, the 100-day SMA at $531, and the 200-day SMA at $437.

Maintaining that alignment keeps the medium-term trend positive. However, the large distance between ZEC and its shorter moving averages also shows how quickly the rally became stretched.

Momentum remains overheated despite the recovery

The daily relative strength index stood at 70.29, just above the conventional overbought threshold. Its signal line was higher at 75.79, suggesting that momentum has started cooling even as the price remains close to its recent peak.

A declining RSI against a relatively stable price can signal fading buying strength. Confirmation would require ZEC to form a lower high or lose an established support level, as an overbought reading alone does not guarantee a reversal.

The 4-hour chart presents a more balanced picture. ZEC recovered above the Bollinger Bands’ middle line at $836 after briefly trading closer to the lower band at $803. The upper band near $870 now forms the first short-term resistance.

A 4-hour close above $870 would place the recent highs around $880–$890 back in focus. Breaking that area could allow ZEC to test $900, followed by the psychological $1,000 level mentioned by pseudonymous trader Altcoin Sherpa.

The trader said ZEC was in the “1k waiting room,” although its next move would remain closely tied to Bitcoin. According to the analyst, strength in Bitcoin could allow Zcash to outperform, while renewed weakness in the wider market would likely produce the opposite result.

The Awesome Oscillator remained slightly negative at -5.18 on the 4-hour chart. While the latest bars suggest bearish pressure is easing, a move above zero would provide stronger evidence that short-term momentum has returned to buyers.

Liquidation clusters could amplify the next ZEC move

CoinGlass’ one-week liquidation heatmap shows large concentrations of leveraged positions on both sides of the market. The nearest upside clusters appear around $870–$890, with additional liquidity extending toward $900.

A sustained move through $870 could force short sellers to close positions, adding market buy orders and potentially accelerating a retest of the recent peak. The brightest nearby concentration appears close to $890, making that zone a possible price magnet if buyers maintain control.

Downside liquidity is concentrated between $780 and $800. ZEC already approached that area during its latest sell-off, but the heatmap indicates that leveraged positions remain exposed around the same range.

Crypto market account DXT Tools said ZEC futures volume stood at $3.55 billion compared with $312 million in spot volume during an earlier snapshot. The account also placed open interest at $1.58 billion and estimated liquidation leverage at $174 million.

Those figures indicate that derivatives activity was much larger than spot buying at the time of the post. High leverage can magnify a breakout in either direction because forced closures add to existing buying or selling pressure.

The account identified $810–$815 as the first nearby liquidity band and $840–$850 as the next cluster. ZEC has since reclaimed both areas, shifting immediate attention toward the larger concentrations above $870.

Key Zcash price levels to watch

The short-term bullish case depends on ZEC holding above the 4-hour Bollinger midpoint near $836. Continued support at that level would leave $870 as the first resistance, followed by $890 and $900.

A daily close above $890 would mark a breakout from the current consolidation and could open a path toward $950 and $1,000. Bulls would still need rising spot volume to support the move, as a rally driven mainly by leveraged futures would remain vulnerable to a reversal.

The bearish scenario begins with a loss of $836. Such a move would expose $810–$803, where the 4-hour lower Bollinger Band and recent intraday support converge.

A decisive break below $780 would invalidate the current range support and could trigger another round of long liquidations. The next major daily reference would then sit near the rising 20-day SMA at $728.

For US traders, the next ZEC move may also depend on broader risk appetite. Expectations for tighter Federal Reserve policy and volatility tied to US-Iran tensions have weighed on speculative assets, while higher oil and Treasury yields could keep pressure on high-beta cryptocurrencies. Against that backdrop, ZEC’s leverage-heavy structure leaves it particularly sensitive to sudden changes in Bitcoin and the wider market.

Introduction: Why AI trading is becoming a major market trend in 2026

The way traders analyze markets is changing.

In 2026, artificial intelligence is moving from experimental technology into practical trading workflows used by investors, fintech companies, and market participants around the world.

For decades, trading decisions have relied heavily on human research, technical indicators, financial reports, and predefined strategies.

These methods remain important. However, modern markets have become significantly more complex.

Today’s traders need to process information from multiple sources, including:

• Price movements
• Market sentiment
• Economic data
• Corporate earnings
• Global events
• Cryptocurrency market activity

The challenge is no longer simply finding information.

The challenge is understanding large amounts of information quickly and turning that data into meaningful trading decisions.

This is where AI trading platforms are gaining attention.

By combining machine learning, real-time data analysis, AI agents, and automated workflows, modern AI trading solutions are helping traders improve market research and streamline trading processes.

The biggest shift brought by AI trading technology is not automation alone.

It is the transition from systems that only execute predefined rules to platforms that can continuously analyze information, evaluate market conditions, and support more adaptive decision-making.

Recommended AI trading platform in 2026: MillionPool

As interest in AI-powered trading continues to grow, traders are looking for platforms that can combine intelligent analysis with practical automation.

MillionPoolis an AI-powered trading platform designed to help users analyze market opportunities, optimize trading strategies, and simplify automated trading workflows.

Unlike traditional trading bots that rely entirely on fixed instructions, modern AI trading platforms are exploring more flexible approaches using:

• AI-driven market analysis
• Intelligent strategy assistance
• Automated workflows
• Data-based decision support

MillionPool represents this new direction of AI trading technology by focusing on helping users reduce the complexity of market monitoring and improve the efficiency of their trading process.

For traders evaluating AI trading platforms in 2026, important factors include:

• Transparency
• Risk management
• Automation capabilities
• User control
• Platform reliability

The goal of AI trading technology is not to remove uncertainty from financial markets.

Instead, it is to provide traders with better tools for understanding markets and managing their decision-making process.

What makes AI trading platforms different?

An AI trading platform uses artificial intelligence to assist with different stages of the trading process, including:

• Market research
• Pattern recognition
• Strategy evaluation
• Risk analysis
• Trading automation

Traditional trading software often follows predefined rules.

For example:

A trading bot may buy an asset when a technical indicator reaches a specific level.

While rule-based systems can be effective, they may struggle when market conditions change.

AI-powered trading platforms introduce a different approach.

Instead of relying only on fixed instructions, AI systems can analyze broader information, identify patterns, and provide additional decision support.

Modern AI trading platforms may evaluate:

• Historical price data
• Trading volume
• Market sentiment
• Economic conditions
• News information
• Asset behavior patterns

This allows traders to approach market analysis with more information and greater flexibility.

AI trading platform vs traditional trading bot

The difference between traditional trading bots and AI-powered platforms is mainly adaptability.

Traditional bots are still useful for specific strategies.

However, AI trading platforms are designed to provide broader analytical capabilities.

The purpose is not to replace traders.

Instead, AI tools help traders spend less time collecting information and more time evaluating strategies.

How multi-agent AI systems work in trading

One of the most interesting developments in AI trading is the use of Multi-Agent AI Systems.

A multi-agent system allows multiple AI agents to work together, with each agent focusing on a specific responsibility.

Instead of one AI model handling every task, different AI agents can analyze different parts of the trading process.

This creates a workflow similar to that of a professional investment team.

Market analysis agent

The market analysis agent focuses on understanding market conditions.

It may analyze:

• Price trends
• Technical indicators
• Trading patterns
• Market movements

Its role is to identify relevant information that may influence trading decisions.

Risk management agent

The risk management agent evaluates potential risks.

It may monitor:

• Market volatility
• Portfolio exposure
• Position sizes
• Changing market conditions

A strong AI trading system should not only search for opportunities but also help users understand potential risks.

Strategy optimization agent

The strategy agent focuses on evaluating different trading approaches.

It can help analyze:

• Historical performance
• Strategy effectiveness
• Market conditions
• Potential improvements

Execution agent

The execution agent supports the operational side of trading.

This may include:

• Order management
• Trading automation
• Execution timing
• Workflow optimization

By combining these different functions, multi-agent AI systems create a more complete approach to automated trading.

AI crypto trading bots: How AI is changing digital asset trading

Cryptocurrency markets operate 24 hours a day, seven days a week.

This creates unique challenges for traders because market conditions can change quickly at any time.

AI crypto trading bots can assist users by analyzing:

• Bitcoin (BTC)
• Ethereum (ETH)
• Digital asset markets
• Trading volume
• Market sentiment
• Historical patterns

For example, a crypto trader monitoring Bitcoin volatility may use an AI trading platform to review price movements, market sentiment, and historical patterns before adjusting a strategy.

AI tools can help reduce manual monitoring requirements and provide faster access to market information.

However, AI crypto trading bots should not be viewed as automatic profit systems.

They are designed to support:

• Market analysis
• Trading automation
• Strategy evaluation
• Decision assistance

Market risk remains an important factor in any trading activity.

AI stock trading platforms: Supporting modern investors

AI is also becoming increasingly relevant in traditional stock markets.

AI stock trading platforms can help investors with:

• Company research
• Market trend analysis
• Portfolio monitoring
• Risk evaluation

For markets such as NASDAQ and the New York Stock Exchange (NYSE), AI tools are being explored as a way to improve research efficiency.

A trader researching a company may use AI tools to summarize financial information, analyze historical trends, and organize market data.

The value of AI is not replacing human judgment.

Instead, AI provides additional analytical support that helps investors make more informed decisions.

How to choose an AI trading platform in 2026

With more AI trading solutions entering the market, traders should evaluate platforms carefully.

A strong AI trading platform should provide more than automation.

1. Transparency

Users should understand:

• How AI strategies are created
• What information does the system analyze
• How decisions are generated

Transparent platforms help users make better-informed choices.

2. Risk management features

Risk control is one of the most important parts of trading.

Useful features may include:

• Position management
• Risk limits
• Portfolio monitoring
• Strategy evaluation

3. Automation and user control

Automation should simplify trading, not remove user control.

Important features include:

• Market monitoring
• Strategy assistance
• Automated workflows
• Custom settings

4. Security and reliability

Before using any AI trading platform, users should consider:

• Platform reputation
• Data protection
• Account security
• Operational reliability

What traders should know before using AI trading bots

AI trading technology provides powerful analytical tools, but traders should understand its limitations.

AI does not guarantee trading results

Financial markets remain unpredictable.

Factors such as:

• Economic changes
• Regulatory decisions
• Unexpected events
• Market sentiment

can influence asset prices.

AI can improve analysis, but it cannot eliminate market uncertainty.

Strategy quality still matters

The effectiveness of an AI trading system depends on:

• Data quality
• Strategy design
• Market conditions
• Risk controls

Users should evaluate AI platforms based on technology, transparency, and risk management rather than promises of guaranteed performance.

The future of AI trading platforms

AI trading technology is expected to continue developing.

Several trends may shape the future:

More specialized AI agents

Future trading systems may include dedicated AI agents focused on:

• Market research
• Risk analysis
• Strategy development
• Portfolio optimization

More intelligent automation

AI assistants may increasingly help traders:

• Summarize market conditions
• Monitor portfolios
• Identify important signals
• Support research

Stronger risk management

Future AI platforms will likely focus more on:

• Real-time monitoring
• Adaptive strategies
• Automated controls

The next stage of AI trading will likely focus on collaboration between human decision-making and intelligent technology.

Conclusion: AI trading is moving toward a more intelligent future

AI trading platforms are changing how investors analyze markets, evaluate strategies, and manage trading workflows.

From AI crypto trading bots to AI stock trading platforms, artificial intelligence is creating new opportunities for traders who want more efficient ways to process information.

Multi-Agent AI Systems represent an important development in this transformation.

By combining specialized AI agents for market analysis, risk management, strategy optimization, and execution, next-generation trading platforms are moving beyond simple automation.

For traders exploring AI-powered solutions in 2026, the most important considerations are not only technology and automation but also transparency, security, and responsible risk management.

AI will not replace every trading decision.

Instead, the future may be a closer partnership between human traders and intelligent AI systems.

Frequently asked questions (FAQ)

The global popularity of cryptocurrency continues to rise; statistics indicate that over 52% of adults in the United States have purchased cryptocurrency, however, the market is fraught with uncertainty, characterized by shifting economic cycles and persistent high price volatility.

Whether it is Bitcoin or XRP, assets often fail to deliver strong long-term performance, leaving many investors facing the issue of their holdings stagnating and depreciating in value over time.

Consequently,EiCrypto, a leading global digital asset service provider, has launched a systematic cloud mining contract trading strategy that integrates artificial intelligence with blockchain technology. This initiative aims to offer XRP holders a potential avenue for returns, enabling users to earn over $12,000 in daily profits.

This strategy allows XRP to be stored in a separate account on EiCrypto, enabling users to experience a brand-new XRP ecosystem through contract plans. XRP investors do not need to monitor market changes, and while maintaining the potential for asset appreciation, they rely on the platform’s unique automated contract model to establish a stable profit mechanism for users.

Elvis Ismaili, CTO of EiCrypto, stated:

“We are delighted to bring this innovative strategy to our clients; it represents a truly transformative approach. Powered by unique AI capabilities, it enables clients to effectively enhance asset utilization and generate long-term, sustainable passive income without having to sell their XRP.”

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EiCrypto provides a transparent, secure, and efficient service mechanism.

Transparency: Users can view account details, hash rate status, and relevant data via the platform, ensuring a clear asset management process.

Security: The platform employs multi-layered security mechanisms, covering account safety, data protection, and risk control, to mitigate potential operational risks.

High Efficiency: Leveraging cloud computing and AI-driven automation, the platform handles hash rate deployment and daily operations; users can participate in cloud hash rate services via mobile or desktop without the need for hands-on management.

In conclusion EiCrypto is expanding its influence in the cryptocurrency market through a convenient, legitimate, and efficient contract strategy mechanism. 

An increasing number of XRP holders are shifting from traditional “buy low, sell high” investment methods to EiCrypto’s contract platform, which offers diversified asset management solutions, thereby enabling them to generate a continuous stream of cash flow by utilizing their XRP flexibly.

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The CLARITY Act has faced a new timing obstacle after House Republican leaders canceled eight voting days and scheduled the chamber to leave Washington on Sept. 17.

House calendar leaves little time for the CLARITY Act

House Majority Whip Tom Emmer’s office informed Republican members that leadership had removed the weeks of Sept. 21 and Sept. 28 from the voting calendar, cutting eight previously scheduled legislative days.

Under the revised schedule, representatives will return after Labor Day for four voting days before leaving Washington on Sept. 17. The chamber is not expected to resume regular legislative work until after the Nov. 3 midterm elections.

House leaders did not cite the CLARITY Act when announcing the calendar change. Still, the shortened session limits the time available to complete any bill that the Senate alters and sends back to the House.

The House passed its version of the Digital Asset Market Clarity Act, known as H.R. 3633, in 2025. The legislation would divide oversight of the U.S. digital asset market between the Securities and Exchange Commission and the Commodity Futures Trading Commission while creating registration rules for crypto trading platforms.

Senators have since worked on their own text, adding provisions that were not part of the measure approved by the House. If the Senate passes an amended bill, the House must accept the changes or the two chambers must negotiate a common version.

Any agreed text would then require approval from both chambers before it could be sent to President Donald Trump. With House members scheduled to leave two days after the Senate’s expected procedural vote, completing every stage in September would leave lawmakers little room for delays.

Senate vote would begin debate, not pass the bill

Senate leaders are expected to hold a cloture vote on Sept. 15 on the motion to proceed to the CLARITY Act. The vote would require support from at least 60 senators and would allow the chamber to begin formal consideration of the legislation.

Clearing cloture would not amount to final Senate passage. Senators could still debate the text, propose amendments, and hold additional procedural votes before voting on the full measure.

As crypto.news previously reported, Solana Policy Institute CEO Miller Whitehouse-Levine placed the bill’s chance of becoming law before the midterms at 10%. He cited the limited number of legislative days and unresolved negotiations between senators.

Senate Republicans cannot reach the 60-vote threshold without Democratic support. Negotiations have covered presidential crypto ethics, anti-money laundering requirements, state enforcement powers, decentralized finance and the treatment of stablecoin rewards.

Several Democrats have sought restrictions addressing financial interests held by elected officials and their families. Reuters reported in August that other lawmakers wanted stronger enforcement provisions and added safeguards for illicit-finance risks.

With the House leaving Washington shortly after the cloture vote, any lengthy Senate amendment process could push the next stage beyond the election. The House could return in an emergency, or leaders could change the calendar again, but no such plan has been announced.

Stablecoin rewards remain a key Senate dispute

Stablecoin rewards have become one of the main points of disagreement between banks and crypto companies during the Senate negotiations.

The Senate text would prohibit payments based solely on a customer holding a payment stablecoin balance while allowing certain rewards tied to transactions or other activity. Banks have argued that activity-based incentives could allow crypto platforms to offer bank-like returns without facing the same capital, liquidity, and regulatory requirements as insured depository institutions.

Crypto companies have opposed restrictions that would prevent exchanges and other service providers from sharing revenue with users. Industry representatives have also argued that a strict ban could reduce competition in dollar-backed digital payments.

The dispute follows the passage of the GENIUS Act, which created federal rules for payment stablecoin issuers. Its implementation has left lawmakers and regulators to address how third-party platforms may advertise or distribute rewards connected to stablecoins.

Whitehouse-Levine’s August assessment came as Polymarket traders placed the probability of enactment during 2026 at approximately 20%, with more than $7.2 million wagered on the contract at the time. The market has since fallen to about 18%, according to the prediction platform, although its prices represent traders’ positions rather than a formal legislative forecast.

A separate Polymarket contract places Democrats’ chance of winning the House at about 90% and their chance of taking the Senate at roughly 52%. Prediction-market probabilities can change as traders respond to polling, campaign developments, and congressional action.

If the bill remains unfinished when the current Congress ends, lawmakers will have to restart the process in the next Congress. A post-election lame-duck session could offer another opportunity, but the result of the midterms may affect whether party leaders give the measure floor time.

SEC proceeds with separate crypto rulemaking

SEC Chair Paul Atkins has remained optimistic about the Senate process despite the limited calendar. In a recent public statement, Atkins said he hoped the chamber would advance the legislation within two weeks.

As reported on Sept. 2, Atkins described the bill as part of an effort to establish statutory rules for the U.S. crypto market. Congress, however, would still need to complete each procedural step before Trump could sign it.

The SEC has also started work on rules that do not depend on the CLARITY Act’s passage. In August, the agency proposed Regulation Crypto Assets, a 402-page framework covering token offerings and qualifying investment contracts.

The proposed SEC framework includes two fundraising exemptions. One would allow eligible issuers to raise up to $5 million over 12 months, while another would permit offerings of up to $75 million under added disclosure and investor-protection requirements.

Regulation Crypto Assets also proposes a safe harbor under which qualifying tokens could cease being treated as investment contracts after meeting decentralization and disclosure conditions. Because the proposal remains subject to public comments and possible revisions, it has not created a final exemption for issuers.

The commission is separately preparing guidance known as the Innovation Exemption for tokenized securities. Atkins has said the measure could give companies a regulated route to test blockchain-based financial products, although tokenized stocks and bonds would remain subject to federal securities laws.

Bybit Pay has integrated with Mesh’s network of more than 300 wallets, exchanges and financial platforms, giving Bybit’s claimed 80 million users a direct way to spend or transfer assets held in their exchange accounts.

Bybit Pay removes a step from crypto payments

Bybit said in a Sept. 3 announcement that users can now access their exchange balances when checking out or adding funds on platforms powered by Mesh.

When Bybit Pay appears among the available payment methods, a customer can select it and use assets already held in a Bybit account. The process removes the need to withdraw funds to a separate wallet, convert them manually, or transfer them to another service before completing a transaction.

For businesses, the integration adds another payment source without requiring a separate connection to Bybit. Companies that already use Mesh can enable Bybit Pay through the same technical setup, allowing them to accept payments from eligible Bybit users.

Bybit described its customer base of 80 million as a potential market for participating merchants. The figure comes from the company and was not independently verified in the announcement.

Settlement settings form another part of the service. According to Bybit, Mesh’s programmable tools let businesses set how and when funds are settled in different markets. The announcement did not list the supported cryptocurrencies, settlement currencies, transaction fees, or geographic restrictions attached to the new option.

“People shouldn’t have to move their money to use it,” Mesh co-founder and CEO Bam Azizi said. “We bring the network to where the money already is.”

Sophie Chen, head of marketing at Bybit Card and Pay, said customers can use an asset held in their account while the receiving platform obtains its preferred asset. Such conversion and settlement functions can reduce the number of manual steps required when the payer and recipient want different currencies.

Bybit Pay is available to Mesh-connected businesses from Sept. 3, according to the exchange. Merchants must still choose to activate it before their customers can use the option.

Mesh connects more than 300 financial platforms

Mesh operates an infrastructure layer connecting wallets, crypto exchanges, and financial applications. Rather than requiring users to copy wallet addresses and arrange separate transfers, participating services can place supported accounts and payment choices inside their own interfaces.

The network covers more than 300 platforms, according to Mesh. Its tools support digital asset transfers, account connections, and payment settlement between participating services, although access to individual functions depends on the platform, asset, and market involved.

A similar model was used when CoinDCX added Mesh transfers in April 2024. The connection allowed CoinDCX customers to move assets from linked accounts without copying long wallet addresses, while transfers were initiated through an in-app menu.

PayPal Ventures had also invested $5 million in Mesh using the PYUSD stablecoin in January 2024. At the time, Mesh was developing services for payments, account aggregation, and trading across hundreds of connected platforms.

The company has since moved further into payment settlement. Merchants may receive a chosen stablecoin or fiat currency even when a customer pays with a different supported asset, depending on the configuration available through the service. Such arrangements place asset conversion behind the payment screen instead of requiring the customer to complete each step separately.

In May, Mesh also entered another public-sector use case when Bermuda adopted Stellar rails for government payments. The program coincided with an integration between Stellar and Mesh, which connected participating wallets and services to stablecoin settlement on the network.

Mesh funding has put payment infrastructure in focus

Mesh raised $75 million in a Series C funding round in January, bringing its total financing above $200 million and valuing the company at $1 billion.

Dragonfly Capital led the round, with Paradigm, Moderne Ventures, Coinbase Ventures, SBI Investment, and Liberty City Ventures also participating. The company said it would use the financing to extend its operations across Latin America, Asia, and Europe.

As crypto.news reported in January, Mesh led a week in which 14 crypto projects disclosed a combined $243.9 million in financing. The company was formerly known as Front Finance and had raised about $205 million in total at that point.

Investor interest continued in July, when Axios reported that Binance planned to lead another Mesh round at a valuation of as much as $2 billion. Neither company had formally announced or completed the reported deal when the funding talks emerged.

A transaction at the reported valuation would double the company’s January figure. The talks also included a direct connection to the exchange market because Binance, like Bybit, holds customer assets that could be used through payment tools if the relevant services are linked.

Mesh’s existing investors already include Coinbase Ventures and PayPal Ventures, giving the company financial ties to both crypto exchanges and a major payments group. Its latest integration adds Bybit’s customer accounts as another funding source across participating merchant and financial platforms.

U.S. users face separate tax and access questions

Bybit’s announcement described the Mesh connection as a global integration but did not state whether Bybit Pay would become available to customers in the United States. Access will depend on Bybit’s regional services, the location of each merchant, and the assets supported for a particular transaction.

For Americans who can access a supported crypto payment service, spending digital assets can carry a federal tax obligation even when the payment takes place directly from an exchange balance.

The Internal Revenue Service treats digital assets as property rather than currency for U.S. tax purposes. Its guidance says exchanging crypto for goods or services counts as a disposal, requiring the user to calculate any capital gain or loss from the asset’s cost basis and fair market value at the time of payment.

The IRS also requires taxpayers to report digital asset transactions even when they do not produce a taxable gain. Records should include the asset, transaction time, number of units, dollar value, and cost basis, according to the agency.

Broker reporting rules add another consideration. The IRS says certain custodial trading platforms, hosted wallet providers, and processors of digital asset payments fall within final reporting regulations. Gross-proceeds reporting began for covered transactions completed from Jan. 1, 2025, while basis reporting for certain transactions started on Jan. 1, 2026.

THAILAND

Thai businessmen sue Tether for freezing $42M in $61M pig butchering case

Two Thai businessmen have sued stablecoin issuer Tether in a New York district court, claiming it illegally froze $42.4 million in Tether USDt (USDT) in October, as part of a broader case tied to a pig butchering scheme.

The plaintiffs claimed that Tether illegally froze the $42 million without a warrant in October 2025, following an informal request from US Homeland Security Investigations.

Authorities in the Eastern District of North Carolina only issued a seizure warrant for the funds later in February 2026. The warrant directed the burn and reissuance of the tokens to a government wallet. 

While the plaintiffs didn’t dispute their involvement in the investment scam, the lawsuit tests the freezing authority of stablecoin issuers.

Thailand adopts crypto Travel Rule with self-custodial wallet checks

Thailand is tightening oversight of crypto transfers, including transactions involving self-custodial wallets, as it moves to align with global Anti-Money Laundering (AML) standards.

Thailand’s Securities and Exchange Commission (SEC) issued new Travel Rule regulations requiring digital asset operators to collect information about parties involved in crypto transfer.

The rules will take effect on Feb. 27, 2027.

Thailand SEC proposes retail access to regulated overseas crypto derivatives

Thailand’s Securities and Exchange Commission (SEC) has proposed allowing intermediaries to facilitate retail access to certain digital asset derivatives traded overseas. 

Under the proposal, eligible products would need to resemble crypto derivatives traded in Thailand, including their underlying assets, maturity, leverage and settlement methods. 

The products must also trade on an exchange that uses a central counterparty for clearing and is overseen by a regulator belonging to specified international regulatory or exchange groups. 

The consultation remains open until Sept. 30.

ASIA

Pencil Finance completes $1M onchain lending cycle for 6.6K students in Southeast Asia

Pencil Finance has completed a $1 million onchain student loan cycle, offering financing to 6,600 students in Southeast Asia who were underserved by traditional lenders.

Of the 6,600 students across 118 schools and universities in Southeast Asia, about 1,050 received direct funding. Pencil said the loans were designed for students underserved by traditional lenders, with 50% female borrowers and 93% stemming from lower-income households.

Pencil Finance claims this is the first-ever fully onchain lending cycle financing student loans transparently recorded on the blockchain network.

Asia crypto custody deals from Ripple and Coincheck

Ripple has partnered with digital asset infrastructure company SettleMint to offer financial institutions solutions for custody, issuance and management of tokenized assets across their full lifecycle.

Digital asset service provider Coincheck Group has also partnered with wallet infrastructure provider DFNS to build digital asset wallet technology and custody services in Japan.

SINGAPORE

Singapore weighs recognizing some foreign-issued stablecoins

The Monetary Authority of Singapore (MAS) is reconsidering its earlier restriction on stablecoins issued across multiple jurisdictions, proposing a route for some jointly issued tokens to qualify under its regulatory framework.

Under one proposal, stablecoins jointly issued by a Singapore issuer and a foreign issuer could be regulated under the framework and labeled “MAS-regulated stablecoins,” provided that the associated risks are sufficiently mitigated.

MAS is also considering recognizing a limited number of foreign-issued stablecoins regulated under comparable overseas frameworks, citing their potential use in cross-border wholesale transactions.

AUSTRALIA

Australia warns unlicensed crypto firms of fines up to 10% of annual turnover

Australian crypto companies relying on temporary regulatory relief have until Sept. 30 to apply for a financial services license or risk penalties, including fines reaching 10% of their annual turnover. 

The Australian Securities and Investments Commission (ASIC) said businesses requiring an Australian Financial Services license must apply for one or seek changes to an existing license before the deadline. 

ASIC has recorded more than 45 digital asset-related license applications to date. 

UAE

Standard Chartered launches spot Bitcoin and Ether trading in UAE

London-headquartered multinational bank Standard Chartered has launched spot Bitcoin and Ether trading for institutional clients in the United Arab Emirates (UAE).

The move makes Standard Chartered the first global bank to offer institutional digital asset trading in the region and the first Global Systemically Important Bank (G-SIB) with a similar offering, the bank said.

JAPAN

Japan’s Remixpoint dumps altcoins

Remixpoint, one of Japan’s largest corporate Bitcoin holders, sold all its altcoins, leaving about 1,506 BTC ($115 million) as its only cryptocurrency holding as it concentrates its crypto strategy around Bitcoin.

Remixpoint sold its Ether, Solana, XRP and Dogecoin holdings for a combined 878.8 million yen ($5.5 million), generating a 117.8 million yen ($736,000) gain, according to a Wednesday company disclosure.

The company recorded gains on its ETH, SOL and XRP sales but sold its DOGE holdings at a 3.26 million yen ($20,000) loss.

Japanese regulator seeks stablecoin tax exemption

Japan’s Financial Services Agency (FSA) submitted a request to exempt trust-type stablecoins from mandatory tax filings starting in fiscal year 2027.

Metaplanet moves 4,800 BTC worth $377M to Coinbase

The Japanese Bitcoin treasury company has transferred 10,270 BTC to Coinbase Prime this week, triggering speculation about the company selling its holdings.

Japan’s FSA Warns Hong Kong-Based IZAKA-YA Over Unregistered Services

Japan’s Financial Services Agency issued a formal warning to Hong Kong-based Izakaya Limited, alleging its cryptocurrency exchange services are unregistered.

SBI Holdings Takes 20% Stake in Indonesia’s Ajaib Group

Japan’s SBI Holdings will spend $270 million to acquire a 20% stake in Indonesian online brokerage Ajaib Group. The aim is to expand its crypto business across the region and to promote SBI’s yen stablecoin JPYSC.

HONG KONG

Hashkey joins DTCC working group as first Asian crypto service provider

Hashkey joined the Depository Trust & Clearing Corporation’s (DTCC) Digital Assets Advisory Services Industry Working Group as its first Asian digital asset service provider. 

Hashkey joins over 100 other global financial institutions including JPMorgan Chase, Goldman Sachs, Nasdaq and the New York Stock Exchange.

DTCC custodies $114 trillion in liquid assets, including stocks and exchange-traded funds. Its working group was formed to connect traditional finance with decentralized finance (DeFi) infrastructure. DTCC plans to launch access to tokenized securities in October.

Bitcoin Asia conference ‘subdued’

The mood at Bitcoin Asia in Hong Kong was subdued according to the South China Morning Post.

Despite a pep talk by Binance founder Changpeng Zhao who declared Bitcoin “will for sure become more important than gold” the bear market hangover was all too evident.

“Psychologically, I think this has been one of the hardest bear markets we’ve had, because this time it wasn’t just the price of bitcoin that took a hit,” said Brandon Green, CEO of conference organiser BTC, during his opening address.

“This time, the Bitcoiners’ ego also took a hit.”

OSL Group Reports 65.8% Revenue Surge

Hong Kong-based digital asset firm OSL Group reported a 65.8% revenue increase in its first-half financial results.

SFC warns Star Bridge Capital is unlicensed

Hong Kong’s Securities and Futures Commission has added Star Bridge Capital Group to its Alert List following forced liquidation anomalies and millions in trader losses.

KOREA

Mirae Asset lays out crypto, stablecoin, tokenization plans for Digital X

South Korean financial group Mirae Asset plans to build a 150 trillion won ($109 billion) digital asset business around Digital X, the crypto exchange formerly known as Korbit, according to The Korea Times.

The report said Digital X will focus on crypto, stablecoins, real-world assets and security token offerings, with plans to tokenize physical assets including gold, silver and electricity.

The expansion plans follow Mirae Asset Consulting’s acquisition of a 97.15% stake in Korbit in July for a cumulative 141.4 billion won. The exchange was subsequently rebranded as Digital X, marking the first time an affiliate of a South Korean financial group acquired control of a domestic crypto exchange.

Kalshi, the prediction-market platform, is reportedly looking to expand into energy derivatives with a West Texas Intermediate (WTI) crude oil perpetual futures contract that would never expire—potentially positioning it as the first oil-linked “perps” product to trade on a regulated US venue.

According to a person familiar with the matter cited by Bloomberg, Kalshi could file the product with the Commodity Futures Trading Commission (CFTC) as soon as next week. Reuters reports the contract would trade 24 hours a day, five days a week. Cointelegraph has reached out to Kalshi for comment.

Key takeaways

• Kalshi reportedly plans to file a WTI crude oil perpetual futures contract with the CFTC that would have no expiration date.
• If approved, it would be the first oil-linked perpetual futures product to trade on a regulated US exchange environment.
• The proposal would support near-continuous trading (24/5), reflecting ongoing regulatory debate over 24/7-style market structure.
• Kalshi’s derivatives push comes amid separate legal fights over how federal commodities rules interact with state gambling enforcement.

Why “perpetual” crude oil futures would matter

Perpetual futures—commonly shortened to “perps”—are derivatives that do not carry an expiration date. In practical terms, that structure can allow traders to hold positions indefinitely rather than rolling exposure into new contracts as maturity approaches.

If Kalshi’s WTI perpetual is approved, traders would gain a regulated venue for long-duration exposure to crude oil-linked price movements without the operational friction of frequent contract rollovers. The reported 24 hours a day, five days a week schedule would also reduce downtime relative to traditional futures market hours, which investors often cite as a key drawback for strategies that depend on continuous monitoring.

CFTC moves toward 24/7 and energy-linked perps

The report lands in the middle of an active regulatory review. In June, the CFTC sought public comments on extending standard futures contracts to 24/7 trading and on permitting perpetual contracts tied to physically delivered or storable energy commodities, including crude oil.

Those efforts have already produced friction. In July, the CFTC halted the self-certified listing of a CME Group contract intended to introduce 24/7 crude oil futures trading. The regulator said it was examining whether the product complied with federal commodities law.

Kalshi’s reported filing would place a new bet on the same broader agenda: how to structure continuously operating derivatives markets under existing commodities regulations. Should the CFTC approve a perpetual format for a storable, physically linked commodity like crude, it could effectively widen the set of instruments available to US traders while also testing the regulator’s willingness to treat perps as compatible with current statutory frameworks.

Regulatory spillover: other perpetual products and “onshore” arguments

Interest in perpetual derivatives is not limited to energy. Earlier coverage noted that Ondo Finance submitted comment letters to the SEC and CFTC on Aug. 24 urging regulators to bring stock-linked perpetual futures “onshore.” In those letters, Ondo argued that perpetual contracts tied to individual stocks could operate within the existing security futures framework without requiring entirely new rules.

While Kalshi’s proposal is specific to WTI crude oil rather than equities, the parallel underscores a common industry theme: market operators are pressing for clearer pathways to list perpetual derivatives in regulated markets rather than leaving them to offshore arrangements or fragmented venues.

Kalshi faces jurisdiction questions beyond derivatives design

Kalshi’s expansion into oil-linked perps also intersects with a different, ongoing dispute over jurisdiction and enforcement. The company’s prediction-market business has been dealing with questions about whether federal commodities law preempts state-level gambling enforcement against event contracts traded on CFTC-regulated exchanges.

On Tuesday, a Michigan state court issued a preliminary injunction barring Kalshi from offering sports-related event contracts in the state and ordered it to maintain geofencing that blocks Michigan residents. The legal battle continues at the federal level as well.

On Wednesday, New Jersey asked the US Supreme Court to address the jurisdictional dispute after federal appeals courts issued conflicting decisions in cases involving New Jersey and Nevada, Reuters reported.

Taken together, the filings described by Bloomberg and Reuters highlight two tracks of Kalshi’s current challenge: first, convincing regulators that new derivative structures—like perpetual oil-linked contracts and 24/5 trading—fit within commodities law; and second, navigating how state gambling restrictions apply when contracts are offered on CFTC-regulated platforms.

What to watch next

If Kalshi submits the WTI perpetual proposal as early as next week, the key question will be how the CFTC evaluates compliance for (1) a no-expiration perpetual structure tied to a storable energy commodity and (2) the market-hours approach for near-continuous trading. Traders and builders should watch the regulator’s response closely, since approval could set an important precedent for other energy-linked perps—while the outcome of Kalshi’s jurisdictional litigation could shape how far its broader prediction-market model can expand in the US.

Revolut has received conditional approval from the Office of the Comptroller of the Currency to form a U.S. national bank, with a 2027 launch, a $95 million capital injection and stablecoin service planned if regulators grant the remaining clearances.

Conditional approval moves Revolut closer to a 2027 launch

Revolut said on Sep. 3 that the OCC had conditionally approved its application to establish Revolut Bank US, N.A., taking the fintech through one stage of a process that began with its charter application in March.

Conditional approval does not allow the proposed bank to begin operating immediately. Revolut must satisfy the OCC’s conditions, secure deposit insurance from the Federal Deposit Insurance Corporation, and obtain approval from the Federal Reserve. The company will also need the OCC’s final authorization before opening the bank.

Planned for Stamford, Connecticut, the new entity would receive an initial capital contribution of about $95 million, according to the company. Revolut expects the operation to open in the first half of 2027 and employ about 160 people.

“We’re grateful for the OCC’s open and transparent dialogue throughout this process,” Revolut U.S. CEO Cetin Duransoy said. He added that the decision keeps Revolut “on track for a 2027 launch of our proposed national bank.”

Founder and group CEO Nik Storonsky described the decision as a foundation for offering Revolut’s full range of services in the United States. The company says it now serves more than 80 million customers globally.

Under its earlier U.S. banking plan, Revolut proposed serving customers who regularly use several currencies, including people with financial ties to Europe, Latin America and Asia. Duransoy previously said the company would rely on existing ATM networks instead of opening physical branches.

Revolut currently offers services to American customers through Lead Bank, an FDIC member. Receiving a final national charter would allow the fintech to provide covered banking products through its own U.S. bank rather than depend on a partner for the underlying accounts.

Revolut bank plans include deposits, credit and foreign exchange

Once authorized to operate, Revolut Bank US plans to offer checking accounts, credit cards, installment loans, and foreign exchange services. The company has also listed a stablecoin among the products expected from the proposed bank.

For U.S. customers, the charter would place eligible deposit accounts within the federal banking system. FDIC insurance, however, would apply to qualifying bank deposits rather than crypto assets or stablecoins, and coverage would depend on the proposed bank obtaining FDIC approval.

Revolut’s earlier product plan also included multicurrency deposits, investment accounts, stock trading and crypto trading. According to Reuters, business banking could follow the initial consumer launch, while mortgages are not part of the company’s first three-year plan.

The stablecoin proposal will face a separate federal rulebook. Under the GENIUS Act, which became law in July 2025, only permitted issuers may issue payment stablecoins in the United States. OCC proposals implementing the law cover reserves, redemptions, audits, risk controls, custody and supervision for issuers under the agency’s authority.

A national bank charter alone, therefore, would not settle every question around Revolut’s planned token. The issuer, structure, and launch conditions would need to comply with the stablecoin framework and any final regulations in force when the product reaches customers.

The planned U.S. token would add a crypto payment product to an institution also offering conventional deposits and credit. Revolut has not disclosed the stablecoin’s currency, network, reserve structure or planned release date.

Recent licenses have expanded Revolut’s regulated banking network

Outside the United States, Revolut spent 2026 adding banking and payments approvals in several markets. The company received banking licenses in the United Kingdom, Australia, and France, while its UAE business obtained a payments license.

In August, Revolut secured a French banking license, which created its second banking base in the European Union alongside Lithuania. The French entity is intended to support locally regulated deposits, lending, and savings products, beginning with customers in France before serving other Western European markets.

The French approval followed Revolut’s full U.K. banking license in March and its Australian banking authorization in July. During the same period, the company began operating as a bank in Mexico.

Revolut says it is also pursuing licenses in Brazil, Colombia, Peru, Argentina, and South Africa. The company’s expansion plan covers markets where it already has customers as well as countries where it wants to provide locally regulated lending and deposit services.

For crypto operations, the fintech holds authorization under the European Union’s Markets in Crypto-Assets framework through the Cyprus Securities and Exchange Commission. Dubai’s Virtual Assets Regulatory Authority also gave Revolut in-principle approval in July for services that could include crypto brokerage, exchange and asset management, subject to final authorization.

Revolut X, the company’s separate crypto trading platform, supports third-party AI assistant connections that can help customers examine portfolios, review market information and prepare trades. Revolut says customers retain control of the final order rather than allowing an outside assistant to execute it independently.

EURR gives Revolut an existing stablecoin product in Europe

Revolut has already entered the stablecoin market in Europe through EURR, a euro-backed token being distributed to eligible customers in Denmark, Poland and Portugal.

As crypto.news reported in August, EURR is issued by Bridge Building S.A., the Luxembourg entity of stablecoin infrastructure company Bridge, which Stripe acquired in 2025. Revolut Digital Assets Europe distributes the token through its regulated crypto service.

EURR is designed to maintain a value of €1 and initially operates on Ethereum. Bridge manages the token’s reserves under the European Union’s MiCA requirements, while Revolut plans to extend availability to other European Economic Area markets when its regulatory and operational preparations are complete.

Selected customers can move EURR to compatible external wallets, with access scheduled to increase as distribution and liquidity develop. Revolut has said additional networks and stablecoins linked to other national currencies are being considered, but it has not identified which currencies would follow the euro.

Senator Cynthia Lummis has backed the CLARITY Act as a way to extend Wyoming’s digital-asset model across the United States before a Sept. 15 Senate vote requiring 60 votes to advance.

Lummis presents Wyoming as a model for the CLARITY Act

Senator Cynthia Lummis said in an X post that Wyoming established rules for digital-asset businesses years before Congress began working on a federal market structure framework. The Wyoming Republican argued that the state’s experience shows lawmakers can regulate the industry while allowing companies to operate and raise money in the United States.

“Wyoming built a legal framework for digital asset companies years before Washington even started paying attention to digital assets, and we’ve proven it works,” Lummis said.

According to Lummis, the CLARITY Act follows the state’s approach by setting “clear rules that keep builders here” and applying them throughout the country. Her comments place business retention at the center of the bill’s case for passage as lawmakers debate whether federal uncertainty has pushed some crypto activity outside the United States.

Wyoming has enacted more than two dozen blockchain and digital-asset laws since 2018. State lawmakers created legal definitions for several forms of blockchain-based property and approved special-purpose depository institutions, commonly called SPDIs, to serve digital-asset companies under a state banking charter.

Unlike conventional banks, Wyoming SPDIs were designed to hold digital assets and provide related financial services under state supervision. The model gave crypto firms a defined legal route for custody and banking activities while federal agencies continued to apply existing securities, commodities, and banking laws on a case-by-case basis.

Federal adoption of a Wyoming-style system would not copy every state provision. The CLARITY Act deals with national trading, fundraising, disclosure and regulatory jurisdiction, while Wyoming’s laws cover state-chartered institutions and the legal treatment of digital property. Lummis has presented both frameworks as products of the same policy choice: writing specific rules before deciding whether a company has violated them.

CLARITY Act would divide SEC and CFTC authority

The CLARITY Act would create federal categories for digital assets and use those classifications to determine whether the Securities and Exchange Commission or the Commodity Futures Trading Commission has authority. Qualifying digital commodities would fall under the CFTC’s spot-market supervision, while the SEC would retain authority over assets and transactions that meet securities-law requirements.

Under the proposed framework, crypto exchanges, brokers, and dealers handling digital commodities would enter a federal registration system. Issuers of certain assets would also have to provide disclosures covering their operations, token ownership, and blockchain networks.

A May guide to the bill reported that the 257-page proposal contains six titles and uses a 20% control threshold when assessing whether a blockchain system has reached mature status. The test considers whether one person or a coordinated group controls enough of a network or its assets to influence its operation.

For US token issuers, the classification process could affect how they raise capital and whether secondary-market trading falls under SEC or CFTC rules. Investors could also receive different disclosures and customer protections depending on an asset’s category and the platform on which it trades.

The bill includes provisions for non-custodial software developers, wallet providers, and blockchain validators. Developers who publish or maintain software without controlling customer funds would not automatically face the registration duties imposed on exchanges or other centralized intermediaries.

As crypto.news previously covered, developer protections have remained part of the Senate dispute over decentralized finance and anti-money laundering controls. Lawmakers have debated how to protect people who write open-source software without creating an exemption for businesses that exercise control over transactions or customer assets.

Customer crypto would receive bankruptcy protection

Customer property in a failed crypto company represents another part of the proposed framework. Under the bill, digital assets held for customers would be treated as customer property in a Chapter 7 bankruptcy rather than becoming part of the failed company’s own estate.

Such treatment could help separate customer holdings from assets available to a company’s general creditors. The distinction matters when a platform enters liquidation because customers may otherwise have to pursue claims alongside unsecured creditors instead of recovering specifically identified assets held on their behalf.

The legislation links that protection to the way a company holds and records customer property. Custody arrangements, ownership records, and the terms accepted by users can affect how assets are handled in bankruptcy, leaving the statutory language and later agency rules important for US holders.

Wyoming’s framework addressed a related problem at the state level by defining control and ownership interests in digital assets. Lummis has cited that legal groundwork as evidence that lawmakers can write rules for crypto property without relying entirely on court decisions made after a company fails.

Alongside custody provisions, the CLARITY Act would impose disclosure and operating requirements on registered market participants. The SEC and CFTC would receive rulemaking assignments, requiring both agencies to write detailed standards after passage rather than putting every compliance requirement directly into the statute.

The CFTC’s prospective role would be especially large because the agency does not currently have general statutory authority over digital-commodity spot markets. Its existing remit focuses mainly on derivatives and enforcement against fraud or manipulation involving commodities.

Sept. 15 vote is a procedural test, not final passage

The House approved the CLARITY Act in July 2025 by a 294-134 vote, with 78 Democrats joining Republicans. In May 2026, the Senate Banking Committee advanced its portion of the legislation by a bipartisan 15-9 vote.

Senate Majority Leader John Thune later filed cloture on the motion to proceed, placing the bill in line for a procedural vote at 2:15 p.m. ET on Sept. 15. The motion needs support from 60 senators before the chamber can begin debate, consider amendments and move toward a final passage vote.

A recent Senate calendar analysis found that lawmakers will return from the August recess on Sept. 14 with 14 working days left before midterm campaigning limits the available legislative window. Even if cloture succeeds, senators could still change the text before voting on the full measure.

SEC Chair Paul Atkins said he expects the legislation to advance and wants it to reach President Donald Trump for his signature. Atkins’ support comes as the SEC develops separate digital-asset rules that can proceed without congressional approval.

Agency rulemaking, however, would not replace the Senate process. Congress can set permanent statutory boundaries between the SEC and CFTC, while rules adopted by either agency must remain within the authority already granted by federal law and can be revised by a future commission.

Changes in the Senate would also require the House to approve identical language before the legislation could reach the president. House leadership has canceled sessions during the second half of September ahead of the midterm election recess, leaving little time for the chamber to consider an amended Senate version during the month.

Coinbase has filed two SEC notice registrations dated Sept. 1 as it works to bring single-stock perpetual contracts to the United States through its regulated derivatives exchange and brokerage.

Coinbase said in a Sep. 3 post on X that it is working to offer single-stock perpetual contracts in the United States after submitting SEC notice registrations for two of its regulated derivatives businesses.

“We’re working to bring single stock perps to the US,” the company said.

The attached documents show that Coinbase Derivatives, LLC filed Form 1-N, while Coinbase Financial Markets, Inc. submitted Form BD-N. Both notices carry a Sept. 1 filing date.

According to the company, it plans to work with the Securities and Exchange Commission and the Commodity Futures Trading Commission as it brings more financial products into the U.S. market. Coinbase did not announce when trading could start or identify which listed companies could serve as the underlying assets.

Coinbase filings establish a dual SEC-CFTC route

Under SEC rules, Form 1-N allows an exchange regulated by the CFTC to register with the SEC for the sole purpose of trading security futures products. Coinbase Derivatives has operated as a CFTC-designated contract market since 2020, according to the company’s regulatory disclosures.

The SEC’s Form 1-N instructions state that the notice supplies the agency with information about the exchange’s ownership, operations, rules, trading systems and disciplinary procedures. Filing the document does not turn Coinbase Derivatives into a general-purpose stock exchange such as Nasdaq or the New York Stock Exchange.

For the brokerage side, SEC Form BD-N allows an eligible CFTC registrant to register as a broker-dealer solely for trading security futures. SEC rules require the applicant to be registered with the CFTC as either a futures commission merchant or an introducing broker and to hold membership in the National Futures Association or another qualifying association.

Coinbase Financial Markets is already registered as a futures commission merchant with the CFTC. Its new notice would support customer access to security futures listed through the affiliated Coinbase Derivatives exchange.

According to the CFTC, futures on individual securities and narrow-based stock indexes are classified as security futures products. Such contracts carry features of both securities and futures, placing them under the joint authority of the SEC and CFTC.

The two filings therefore cover distinct functions: Coinbase Derivatives would provide the market where contracts are listed, while Coinbase Financial Markets would serve as the regulated intermediary for customers. Neither document shown in the announcement contains contract terms nor confirms final clearance for a commercial rollout.

Single-stock perpetuals would extend an existing overseas product

Coinbase launched stock perpetual futures for eligible customers outside the United States in March, according to the company’s International Exchange announcement. U.S. persons were expressly barred from using the service.

The initial international selection provided synthetic exposure to Apple, Microsoft, Alphabet, Amazon, Nvidia, Meta, and Tesla. Coinbase also listed contracts tied to the SPY and QQQ exchange-traded funds, which track the S&P 500 and Nasdaq-100, respectively.

According to Coinbase, the international single-stock contracts traded continuously, including during weekends, and initially offered leverage of up to 10 times. ETF perpetuals provided leverage of up to 20 times, while positions were settled in USDC and could be cross-margined with other spot and perpetual holdings.

Perpetual futures differ from standard futures because they have no fixed expiration date. Coinbase’s international products use a funding mechanism to keep contract prices near the value of their reference assets, allowing traders to maintain leveraged long or short exposure without purchasing the underlying shares.

Terms used outside the United States should not be treated as confirmed specifications for the proposed U.S. products. Coinbase has not said whether its domestic contracts would trade around the clock, settle in USDC, or carry the same leverage limits. The company also has not confirmed whether its first U.S. lineup would match the seven technology stocks offered internationally.

For American traders, the proposed contracts would provide derivatives exposure rather than ownership of the referenced shares. Coinbase’s international product description says stock perpetual holders do not receive shareholder rights associated with the underlying securities, such as voting rights.

Coinbase has expanded regulated derivatives access

The registration notices follow several additions to Coinbase’s derivatives business during 2026. In May, CFTC staff granted Coinbase Financial Markets regulatory relief connected to eligible U.S. institutions accessing certain derivatives listed on Deribit, the offshore platform Coinbase acquired.

In June, crypto.news reported US approval for Coinbase to provide access to global crypto perpetual futures. Chief Executive Brian Armstrong said at the time that years of regulatory work were needed to create a compliant route for U.S. customers into a market that had largely operated overseas.

Coinbase has also moved into additional national markets. On Sept. 2, the company launched 23 futures for eligible Canadian investors, covering perpetual and dated contracts tied to Bitcoin, Ether, Solana and 20 other crypto assets. Supported Canadian products offer leverage of up to 10 times.

Company market data showed Coinbase Derivatives with about $1.75 billion in 24-hour volume as of Sept. 3, compared with approximately $9.7 billion on Coinbase International Exchange. Coinbase’s figures cover each venue’s full derivatives activity and do not isolate trading in stock perpetuals.

Perpetual contracts remain contested in the US

Coinbase’s stock-product plan arrives while U.S. courts and regulators are still considering how some perpetual contracts should be classified. In June, CME Group sued the CFTC over the regulator’s treatment of crypto perpetuals offered through platforms including Coinbase and Kalshi.

According to CME’s complaint, perpetual contracts fit the definition of swaps under the Dodd-Frank Act and should not be regulated as ordinary futures. The exchange operator accused the CFTC of departing from its past approach and bypassing procedures required for swap products.

The CFTC rejected CME’s position and called the case “frivolous,” according to court coverage of the dispute. No final ruling has invalidated the regulator’s existing route for crypto perpetual contracts.

CFTC officials have separately identified leverage, funding-rate volatility, manipulation, and price convergence as possible risks in perpetual markets. In a June 2025 address, then-Acting Chair Caroline Pham said some commenters questioned whether contracts without an expiry could perform the risk-management and price-discovery roles associated with traditional futures.

Stock perpetuals can present additional trading-hour concerns because the contracts may remain active while the exchanges listing their reference shares are closed. Coinbase’s international risk disclosure warns that equity perpetuals involve liquidity, execution and price-volatility risks, particularly outside regular stock-market hours.

The Sept. 1 notices do not state whether the U.S. contracts would operate continuously or pause when the underlying equity markets close. Coinbase also has not disclosed proposed funding calculations, position limits, margin requirements, clearing arrangements or safeguards for periods when fresh stock prices are unavailable.