Crypto World
SEC Submits Crypto Custody Rule Overhaul to White House for Review
The U.S. Securities and Exchange Commission (SEC) has begun moving toward a major update to custody rules that govern how investment advisers and investment companies hold client assets, a change that could directly affect institutional crypto custody.
According to the SEC’s regulatory filings, the agency submitted “Amendments to the Custody Rules” to the White House Office of Information and Regulatory Affairs (OIRA) on Aug. 25 as part of the federal review process. The proposal would then return to the SEC for internal consideration before potentially being released for public comment.
Key takeaways
- The SEC has sent proposed custody rule updates to OIRA for review under White House regulatory procedures.
- The changes target how investment advisers and investment companies hold client assets, including crypto, under the Investment Advisers Act and Investment Company Act.
- The stated goal is to reduce uncertainty for institutions trying to comply with existing federal securities rules while holding digital assets.
- The draft is not yet public, and OIRA and the White House Office of Management and Budget can request modifications before it returns to the SEC.
What the SEC is trying to change
The SEC’s regulatory agenda indicates that the custody proposal could amend existing rules or introduce new requirements under the Investment Advisers Act and the Investment Company Act. Those frameworks apply to firms managing client money and other assets, including assets that may be held in custody arrangements—an area where market participants have long sought clearer guidance for digital-asset holdings.
In its description of the effort, the SEC said the intended purpose is to clarify how companies can hold crypto for clients while remaining consistent with the agency’s securities-law custody framework. The SEC emphasized that the proposal is designed to address uncertainty, but it has not yet published the rule text for public scrutiny.
Once OIRA completes its review, the draft would come back to the SEC. From there, the commission would decide whether to circulate the proposal for public comment.
How the OIRA process could shape timing and scope
The custody rule effort is currently in a pre-publication stage. As reported by Bloomberg, the SEC sent the proposal to OIRA, which sits within the White House Office of Management and Budget, on Aug. 25. That step matters because it is not merely administrative: the White House can ask for changes before the proposal returns to the SEC.
Only after that review cycle would the SEC determine whether to release the proposal for public comment—an important milestone for institutions because public comments can influence how custody obligations, compliance expectations, and operational constraints are ultimately written into regulation.
At present, the main practical takeaway for affected firms is that the proposal is moving, but the actionable details remain unavailable. Custody providers and asset managers will likely be watching for the published draft text and any adjustments that occur during OIRA’s review.
Why this fits the SEC’s broader digital-asset direction
Bloomberg linked the custody rule initiative to the SEC’s wider effort to support the Trump administration’s digital asset agenda, even as a separate piece of market-structure legislation remains stalled in Congress.
The article noted that the broader goal is occurring while the CLARITY market structure bill is still pending in the Senate. According to Cointelegraph’s earlier reporting, the bill is expected to face a cloture vote after lawmakers return from the August recess in September, suggesting continued legislative uncertainty around digital-asset rules at the federal level.
In that environment, rulemaking inside the SEC becomes particularly consequential for institutional participants. Custody is not just a compliance checkbox; it affects how funds and advisers structure client asset handling, choose custody models, and document safeguards—core concerns for asset managers considering or already providing crypto exposure.
From enforcement to rulemaking: institutional impact
Crypto market participants have closely tracked the SEC’s shift in posture under Paul Atkins, who became chair in 2025. Multiple reports in the crypto industry described a move away from what critics called “regulation through enforcement” toward formal rulemaking.
Earlier coverage from Cointelegraph has said Atkins pledged to end the SEC’s prior approach and to pursue policy development through established rulemaking channels. That shift is reflected in reported enforcement decisions as well: Cointelegraph previously reported that the SEC dismissed several cases against prominent crypto companies in 2025, including its lawsuit against Coinbase, as it sought to reshape how it regulates digital assets.
The SEC’s custody-rule proposal fits into that broader pattern. Even though the SEC has been less aggressive in some enforcement areas, institutions still need regulatory clarity for the mechanics of custody and client asset protection—areas where existing uncertainty can slow adoption or increase compliance risk.
For investors and intermediaries, a clearer custody framework could translate into better-defined standards for eligibility, controls, and operational practices. It may also reduce the reliance on case-by-case enforcement logic when deciding how to hold and safeguard client assets that include crypto.
What to watch next
Readers should watch for the custody proposal to be published after the OIRA/OMB review and for the SEC’s decision on whether to open a public comment period. The key uncertainty remains the draft’s contents—especially how it will address crypto custody within established custody rules under the Investment Advisers Act and Investment Company Act.
Crypto World
TxFlow L1 Strengthens Its Infrastructure with OpenZeppelin Audit as Its On-chain Ecosystem Expands
Independent OpenZeppelin review of TxFlow’s bridge contract marks another step in TxFlow’s approach to security as its L1, DEX, and builder ecosystem continue to develop.
TxFlow announces the completion of an independent security audit by OpenZeppelin, one of the world’s most established blockchain security firms, trusted by major organizations and protocols including Coinbase, the Ethereum Foundation, Uniswap, Aave, Arbitrum, ZKsync, Compound, and others.
OpenZeppelin’s review covered TxFlow’s bridge contract, a critical component of the infrastructure supporting the movement of capital between external networks and TxFlow L1. OpenZeppelin’s review identified zero critical and zero high-severity findings. One medium-severity finding was identified and resolved during the audit process.
The independent review forms part of TxFlow’s broader approach to incorporating external security expertise as its financial infrastructure and ecosystem continue to develop. Alongside TxFlow DEX and continued L1 development, TxFlow is also building Builder Code, with additional details to be announced as both initiatives move closer to release. Together, these developments support TxFlow’s broader objective: to build a Layer 1 designed specifically for financial markets, bringing trading, liquidity, and financial applications onto one blockchain where all finance happens.
Security at TxFlow L1 is a continuous responsibility: An Independent Review by OpenZeppelin
As part of this commitment, we work with leading independent security experts to rigorously assess our infrastructure. In 2026, OpenZeppelin completed a security audit of Bridge2, the USDC bridge connecting Arbitrum One to TxFlow L1. TxFlow aims to continue to strengthen its security architecture, monitoring, and operational safeguards as the network evolves. The audit report provides the technical scope, findings, and assessment from OpenZeppelin and is available for the community to review directly.
TxFlow’s broader bridge infrastructure supports deposits and withdrawals across Arbitrum One, Ethereum, Base, Polygon PoS, and Solana. TxFlow’s documented bridge flow includes controls around the movement of funds, including validator-approved withdrawals and a built-in safety wait before withdrawals are completed.
These controls form part of TxFlow’s approach to protecting one of the most important functions of financial infrastructure: the movement of capital between networks.
Global-Grade Security from the Ground Up
TxFlow is building its security program with the standards expected of serious financial infrastructure in mind. To support that approach, TxFlow engaged OpenZeppelin, one of the world’s most established blockchain security firms. OpenZeppelin has completed more than 900 security audits, identifying more than 10,000 issues, including 700+ critical and high-severity vulnerabilities, across blockchain protocols and financial infrastructure.
Its security work spans major crypto organizations and ecosystems including Coinbase, the Ethereum Foundation, Uniswap, Aave, Arbitrum, ZKsync, Optimism, and Compound, as well as established financial institutions and infrastructure providers including DTCC, Fidelity Digital Assets, WisdomTree, ANZ, and CACEIS.
For TxFlow, working with globally recognized security specialists at an early stage establishes a clear approach: independently review critical infrastructure as the network and ecosystem grow. Security is not an add-on to financial infrastructure. It is part of the infrastructure itself.
Building Infrastructure for On-chain Finance
TxFlow L1 is designed specifically for financial markets and applications.
TxFlow DEX, a fully on-chain central limit order book for perpetual markets, is the first application built on TxFlow L1. The DEX is the first product operating on a broader infrastructure layer. TxFlow L1 is designed to support multiple financial applications and markets on the same network, including perpetuals, spot markets, prediction markets, and new categories of on-chain financial products. Through TxFlow Improvement Protocol (TIP) Liquidity Standards, Channels can connect to common execution, settlement, and liquidity infrastructure rather than operating as isolated applications.
For traders, that means infrastructure designed around markets from the start.
For builders, it creates a foundation for developing new financial applications on a network designed for trading, liquidity, and settlement.
What’s Next: Builder Code
Alongside continued development of TxFlow L1 and TxFlow DEX, the team is building two new ecosystem initiatives: TxFlow Builder Code.
Builder Code is being developed to expand how builders and ecosystem participants can contribute to and grow alongside the network. For the TxFlow community, these initiatives represent the next stage of ecosystem growth: more ways for traders to participate, more ways for builders to contribute, and more activity across the TxFlow network.
About TxFlow L1
TxFlow L1 is a high-performance blockchain built for on-chain financial infrastructure, organized around TIP Liquidity Standards that define how financial products are built, composed, and settled on-chain. TxFlow DEX is the first Channel on TxFlow L1, a CLOB orderbook DEX for perpetual trading, processing over 250,000 TPS with one-block finality. Through its TxFlow Improvement Protocol standards and Channel architecture, TxFlow enables spot markets, derivatives, prediction markets and future financial products to operate on the same chain while connecting to shared execution and settlement infrastructure where all finance happens. TxFlow L1 is building an open, composable and community-owned financial ecosystem in which each new application can strengthen the infrastructure available to those that follow.
About OpenZeppelin
OpenZeppelin is a leading security partner for on-chain finance, trusted by organizations including DTCC, Fidelity Digital Assets, WisdomTree, Coinbase, Uniswap, Aave, and the Ethereum Foundation. Since 2015, OpenZeppelin has secured more than $35 trillion in value transferred and delivered 900+ security engagements, surfacing more than 10,000 vulnerabilities across critical on-chain infrastructure. Its open-source smart contract libraries are an industry standard used across leading stablecoins, tokenized assets, and blockchain applications.
Learn more about TxFlow:
The post TxFlow L1 Strengthens Its Infrastructure with OpenZeppelin Audit as Its On-chain Ecosystem Expands appeared first on BeInCrypto.
The filing suggested that the building could be replaced by a large outdoor amphitheater overlooking the Potomac River. The lawyers said that “such a replacement will fail to adequately honor President John F. Kennedy, but would be simpler and more economical to build, operate, and maintain.”
The filing marks an unusually explicit reference by the Trump Administration to the possibility of demolishing the venue, which first opened its doors in 1971 as a living memorial to President John F. Kennedy, who was assassinated in 1963.
How the fight over the Kennedy Center escalated to demolition threats
At the start of Trump’s second term, he overhauled the center’s governing board and replaced several members with allies. That board voted in December 2025 to rename the venue as the “Trump Kennedy Center.” In February, he also ordered the center to close for two years to make way for renovations.
In May, a judge ruled that only Congress could rename the center and temporarily blocked both the name change and the planned closure. The judge ordered Trump’s name removed from the building.
Bitcoin slipped below $78,000 shortly after the Wall Street open as US inflation data landed higher than expected, pushing risk assets lower and weighing on crypto sentiment. The move followed a stronger-than-forecast July Personal Consumption Expenditures (PCE) print—an inflation measure the Federal Reserve closely tracks—setting up a busy stretch for traders with additional catalysts later in the week.
With markets now parsing what the latest inflation signal could mean for the policy outlook, attention is also turning to Nvidia’s upcoming earnings release, widely viewed as a near-term driver of broader market volatility. Meanwhile, technical analysts are warning that recent strength may still fall short of a durable trend change.
Key takeaways
- July US PCE inflation came in above expectations, with the year-on-year rate at 3.7% versus 3.6% expected.
- BTC’s decline accelerated after the Wall Street open, aligning with weaker moves in US equities and gold breaking below $4,600 per ounce.
- Analysts are watching the August monthly close for confirmation or rejection of ongoing technical resistance themes.
- Traders are also looking ahead to Nvidia’s Q2 earnings as a potential volatility catalyst for risk assets.
July PCE surprises higher and pressures risk appetite
According to the Bureau of Economic Analysis’ official release, the July PCE price index increased 0.2% from the previous month, and the same 0.2% gain was reported for the core measure excluding food and energy. On the year, the headline PCE rate rose to 3.7%, edging above the 3.6% forecast.
TradingView data tracked intraday weakness of up to roughly 1% for BTC on the day as US markets opened lower. The same risk-off dynamic also showed up beyond crypto: the article notes US stocks were down at the open and gold dipped through $4,600 per ounce.
For investors, the key point is not only whether inflation is moving, but whether it is moderating quickly enough to influence expectations around monetary policy. The report highlights that markets had been reacting to June’s PCE slowdown—described as the first month-on-month decline in six years—so the July print reduced confidence that progress was continuing at the desired pace.
Commenting on the broader implication, trading resource The Kobeissi Letter said on X that US inflation remains “nearly double” the Federal Reserve’s 2.0% target, reinforcing the idea that the latest data did not offer immediate reassurance for rate-cut hopes.
Fed week ahead: inflation data before major policy messaging
The PCE release landed with the Federal Reserve’s annual Jackson Hole economic symposium approaching. The article notes that Fed chair Kevin Warsh is expected to deliver the keynote speech on Friday, which places a premium on how markets interpret the inflation trajectory into that event.
In practical terms, this means traders are likely to treat today’s data as an input into the policy narrative rather than a one-off market mover. If inflation readings stay stubborn, markets may scale back expectations for easing; if they ease further, pressure on risk assets could fade. Either way, the upcoming Fed communications increase the probability that volatility could rise again even if crypto’s move already reflects the immediate reaction.
Tech earnings on deck as Nvidia could set the tone
Beyond macro data, the article points to corporate earnings as the next plausible short-term driver for market behavior. It highlights Nvidia’s upcoming Q2 earnings release as a potential catalyst for risk-asset volatility.
While the piece does not claim new results, it cites expectations including quarterly revenue of $92.3 billion and notes that analysts at Raymond James forecast CPU revenue at Nvidia could grow from 3% to 5% of total by 2028, broadening its addressable market.
For crypto investors, Nvidia matters less for fundamentals inside the blockchain sector and more for how large-cap tech performance influences overall liquidity and risk appetite. If earnings are perceived as supportive, BTC could find follow-through buyers; if they disappoint, the broader de-risking impulse may continue to spill into digital assets.
BTC technical outlook: focus shifts to the August monthly close
After the pullback, market participants are increasingly turning to higher-timeframe technical levels rather than reacting to day-to-day candles. The article emphasizes an upcoming August monthly candle close as a key point for determining whether BTC can extend a rebound or whether it remains trapped within a broader downtrend structure.
Trader and analyst Rekt Capital warned that BTC/USD could continue forming “lower highs,” referencing a sequence that has been in place since October 2025. In an X post, he said that “a Monthly Close below the blue resistance” would not only confirm another “Macro Lower High,” but also build “confluent resistance” tied to a broader macro downtrend.
Rekt Capital also directed attention to the 50-week exponential moving average (EMA) near $77,251. The article notes that Bitcoin’s last monthly close above this level occurred in October 2025. In his view, maintaining a reclaim and hold around that trend metric would be necessary for the rebound to stop being categorized as merely a temporary “relief rally” within a larger bear market.
Notably, this framing sets up a clear debate for traders: whether recent upside is transitioning into a durable reversal, or whether the market is still only bouncing within a corrective regime. Because monthly closes carry more weight than intraday price action, this creates a well-defined checkpoint for bulls and bears alike.
The near-term downside pressure from macro data may not automatically invalidate technical bullish cases, but it increases the odds that resistance levels will be tested more aggressively before the month ends. In other words, the market is now balancing two competing forces—macro-driven risk sentiment and chart-driven trend confirmation.
Heading into the next sessions, traders should watch how BTC responds once the immediate PCE-driven reaction cools, whether Nvidia’s earnings shift broader risk appetite, and—most importantly—where Bitcoin’s price settles relative to the resistance and the 50-week EMA ahead of the August monthly close.
Acting alongside legends like Carol Burnett and Bernadette Peters, Curry cemented himself as a scheming villain, the type of role he would continue to play in movies like Home Alone 2, Muppet Treasure Island, and The Three Musketeers.
In a 2020 interview with Forbes, Curry reminisced on the experience: “Rooster was a hustler, and people love that kind of character,” he said. “He was a lot of fun.”
Clue
In the 1985 board game adaptation Clue, Curry played the energetic butler Wadsworth, where he showcased his physical comedy. One of the most memorable moments comes at the film’s end, when Wadsworth runs about the mansion, trying to summarize the night’s events and explain the identity of the killer.
Since his death, tributes from his Clue co-stars have poured in.
“What an unbelievable joy to have shared a sound stage with him and to engage with such a master talent,” Lesley Ann Warren, who played Miss Scarlet in the murder mystery movie, wrote. “I adored him.”
The group behind the Grand Theft Auto VI (GTA 6) leaks hit back at Rockstar Games within hours on Wednesday. It repeated its demand for physical discs and accused the studio of playing the victim.
CyberLeek, the account driving the leak campaign, posted its answer on X. The reply reignited a dispute that has run since June.
Rockstar Writes to Fans, But Skips the GTA 6 Physical Discs Question
Rockstar broke a week of silence on Wednesday with an open letter to its community. The studio called the leaks heartbreaking for its team. It apologized to fans for the long wait.
“It would be an understatement to say that having videos of Grand Theft Auto VI gameplay leak this way has been heartbreaking for our team, and this is obviously not how we intended for you to see the game after all this time.”
Rockstar Games, statement
The full Rockstar statement thanks supporters, confirms the Nov. 19 launch, and warns that spoilers may hurt the intended experience.
However, it never mentions discs and never names CyberLeek. That silence triggered the reply, which cast the studio as the aggressor rather than the injured party.
The group has released footage in daily batches since Aug. 18. Its demands include pressed discs for pre-orders and an offline fallback for single-player content.
It also wants an end to what it calls fake single-player expansions. That means content already sitting in the game files, locked until players pay again. CyberLeek says it will not stop until publishers apologize and commit to change.
Why the Ownership Fight Keeps Growing
Rockstar confirmed in June that boxed copies will hold a download code instead of a disc. Buyers therefore get a license, not a physical product. Take-Two chief executive Strauss Zelnick told analysts on Aug. 7 that discs no longer make sense for consumers.
Meanwhile, the wider industry is moving the same way. Sony will stop pressing game discs in January 2028. A PlayStation disc backlash petition has since gathered hundreds of thousands of signatures.
Still, the preservation movement itself has pushed back. Stop Killing Games, a campaign for continued access to purchased titles, rejected the leak tactics outright.
“Using illegal means to make a point is unacceptable to us and does nothing to protect our right to keep using what we paid for.”
Stop Killing Games, statement
Money clouds the protest further. CyberLeek also sells ad space inside its leak videos. Brands must send 400 Monero (XMR), worth roughly $172,000, just to open the conversation.
That fee buys no placement, only a reply. The privacy coin is trading near $431. A separate CyberLeek meme coin rally added 1,400% last week.
Take-Two has shed market value since the leak campaign started.
Netflix airs an extended GTA 6 look on Thursday, and Rockstar hopes official footage retakes the story. Whether that works or simply gives leakers a bigger audience becomes clear within days.
The post GTA 6 Leakers Demand a Physical Disc Release. Will Rockstar Accept? appeared first on BeInCrypto.
When things are calm, make a plan for next time
When communication resumes, you might be so relieved that you simply pretend nothing happened. But unless the pattern itself is addressed, the next disagreement might end the same way.
Needle suggests leading with curiosity: “Can you help me understand what was happening for you when you needed to step away?” Once you’ve listened, describe the impact without claiming to know the person’s intent: “When I didn’t hear from you and didn’t know whether we would talk again, I felt anxious and disconnected. I’m OK with taking space during conflict, but I need to know we’ll come back to it.”
Then decide together what a future timeout will look like. Avigail Lev, a clinical psychologist in San Francisco, encourages couples to agree in advance on how either person will signal that they need a break, roughly how long it will last, what they’ll do to calm down, and who will restart the conversation. If the person needs longer, they should still check in at the agreed-upon time and provide a new endpoint. Some couples and families even choose a code word that means the conversation is pausing, Wilson says—not that the relationship is disappearing.
Bitcoin (BTC) slipped under $78,000 following Wednesday’s Wall Street open after US inflation data came in above expectations.
Key points:
- Bitcoin sees further downside after US PCE inflation data came in 0.1% higher than expected in July.
- Markets await Nvidia Q2 earnings release as Wednesday’s next potential volatility catalyst.
- BTC price analysis warns over 25% weekly gains forming a bear market relief rally.
Higher-than-expected PCE data pressures Bitcoin
Data from TradingView tracked up to 1% daily BTC price losses, with US stocks also opening lower and gold breaking below $4,600 per ounce.
BTC/USD one-hour chart. Source: Cointelegraph/TradingView
The downside came after the July print of the US Personal Consumption Expenditures (PCE), known as the Federal Resrve’s “preferred” inflation gauge, hit 3.7% year-on-year, above the anticipated 3.6%.
“From the preceding month, the PCE price index for July increased 0.2%. Excluding food and energy, the PCE price index also increased 0.2 %,” the Bureau of Economic Analysis’ (BEA) official release confirmed.
US PCE index data (screenshot). Source: BEA
Markets appeared disappointed by the results following June’s unexpected drop in PCE gains, which included their first month-on-month decrease in six years.
“US inflation continues to run at nearly double the Fed’s 2.0% target,” trading resource The Kobeissi Letter responded in a post on X.
The PCE numbers come a day before the Fed’s annual Jackson Hole economic symposium, with chair Kevin Warsh due to make the keynote speech on Friday.
Investors are watching for today’s Q2 earnings report from technology giant Nvidia report, anticipated to bring short-term risk-asset volatility. The company is expected to record $92.3 billion quarterly revenue, including CPU revenue that analysts at Raymond James forecast could grow from 3% to 5% of NVDA’s total by 2028, expanding its addressable market.
Related: Supply absorption ‘key question’ as Bitcoin fails to reclaim $80K: Analysis
Analyst sets key targets for BTC price monthly close
Examining recent price action, Bitcoin market participants turned to the upcoming August monthly candle close.
Urging a cautious approach, trader and analyst Rekt Capital warned that BTC/USD was in danger of continuing its series of lower highs in place since October 2025.
“A Monthly Close below the blue resistance would not just solidify another Macro Lower High but would also build a confluent resistance in association with the Macro Downtrend,” he commented on X alongside a chart showing a downward-sloping resistance trend line.
BTC/USD one-month chart. Source: Rekt Capital on X.com
Rekt Capital added that unless the cycle of lower highs was broken, Bitcoin’s rebound over the past week could still be classed as a “relief rally” within the broader bear market. He focused on the 50-week exponential moving average (EMA) at $77,251 as a further trend line to reclaim and hold going forward, with Bitcoin’s last monthly close above it coming in October 2025.
BTC/USD one-month chart with 50-week EMA. Source: Cointelegraph/TradingView
More than three-quarters of Americans view cryptocurrency in workplace retirement plans as risky, as concerns over retirement security mount across the United States, according to a new survey from The National Institute on Retirement Security.
The survey found that 77% of Americans consider crypto in workplace retirement plans risky, including 46% who view it as very risky, while 53% oppose employers offering crypto as an investment option.
The skepticism comes as 80% of respondents said the US faces a retirement crisis, up from 67% in 2020, while 61% expressed concern about achieving financial security in retirement.
Affordability pressures are also weighing on retirement savings, with 68% saying it is becoming harder to prepare for retirement and 77% saying debt prevents them from saving adequately.
The survey was conducted by Greenwald Research between Oct. 24 and Nov. 14, 2025, and included 1,203 Americans aged 25 and older, with results weighted by age, gender and income.
Americans view of crypto in retirement plans. Source: National Institute of Retirement Security
Related: Bernstein forecasts Bitcoin to reclaim $125K by late 2026 ahead of cycle peak
US policymakers move to broaden alternative assets in 401(k)s
While the report indicates Americans broadly view crypto as risky for retirement, the Trump administration and federal regulators have moved to broaden access to alternative assets in retirement accounts, bringing crypto and other nontraditional investments further into the retirement savings debate.
The US Department of Labor rescinded guidance in May 2025 that had urged 401(k) plan fiduciaries to exercise “extreme care” when considering cryptocurrency investments, returning instead to a neutral approach that neither endorses nor discourages crypto in retirement plan investment menus.
On Aug. 7, 2025, President Donald Trump signed an executive order aimed at expanding access to alternative assets in defined-contribution retirement plans, including investment vehicles that hold digital assets, while directing the Labor Department and US Securities and Exchange Commission to consider regulatory changes to facilitate access.
Trump’s executive order expanding alternative asset access in 401(k) plans. Source: Federal Register
A few days later, the Labor Department rescinded 2021 guidance that had discouraged 401(k) fiduciaries from considering alternative assets, saying investment decisions should instead be evaluated under a neutral, principles-based approach.
More recently, in March 2026, the Labor Department proposed rules outlining how 401(k) fiduciaries could include alternative assets in investment lineups, including safe harbors intended to reduce litigation risks while requiring consideration of factors such as fees, liquidity, valuation and performance.
The proposal has faced pushback from lawmakers, with Sens. Bernie Sanders and Elizabeth Warren and Rep. Bobby Scott urging the Labor Department in June to withdraw it, citing crypto’s volatility and what they described as insufficient investor safeguards.
Magazine: SEC’s proposed crypto rules probably won’t spark new ICO boom
Potentially taxable onchain crypto activity reached at least $457 billion globally in 2025, while international reporting rules may capture only a fraction of it, according to a new Chainalysis report.
The US accounted for an estimated $112.6 billion of the total, while North America led all regions with $134.6 billion, followed by the European Union at $125.1 billion.
The estimates include realized gains, income from activities such as mining, staking and lending, and crypto-denominated payments across six major blockchains, but exclude trading and other activity conducted within centralized exchanges.
Chainalysis said transactions covered by the Organisation for Economic Co-operation and Development’s (OECD) Crypto-Asset Reporting Framework (CARF) account for just 14% of the onchain taxable activity it identified. The remaining 86% includes activity on decentralized exchanges, peer-to-peer transfers, onchain income streams and payments.
CARF, developed by the OECD in 2022, requires covered crypto service providers to report customer transaction data to tax authorities.
CARF covers only 14% of potentially taxable onchain crypto activity.
Source: Chainalysis
Related: Chainalysis sues US over $95M ICE contract with TRM Labs
CARF’s limits on onchain tax reporting
CARF data collection began on Jan. 1, 2026, in 48 jurisdictions, including the United Kingdom and European Union, requiring covered crypto platforms to collect additional customer and tax residency information.
Under CARF, in-scope crypto providers collect customer and tax residency information and report transaction data to domestic tax authorities, which can then share that information across borders.
CARF framework. Source: OECD
CARF’s focus on crypto intermediaries also helps explain the gaps highlighted by Chainalysis. Colby Mangels, a former OECD adviser who worked on CARF, told Cointelegraph in January that the framework was designed around intermediaries that facilitate crypto transactions as a business.
Much of decentralized finance therefore remains outside the reporting perimeter, as there may be no centralized operator or custodial relationship on which to impose reporting requirements.
That could change as regulators develop rules for decentralized platforms. Mangels said tax authorities are watching developments in anti-money laundering regulation, including efforts to determine when DeFi platforms or their operators should be treated as regulated crypto service providers.
Magazine: SEC’s proposed crypto rules probably won’t spark new ICO boom
XRP is leading a broader pullback in the crypto market on August 26, sliding roughly 6.6% over 24 hours to trade near $1.37, the worst performance among the top 10 cryptocurrencies.
The decline follows one of the token’s strongest weekly rallies in recent memory, and traders are now watching whether the pain has only just begun.
What Triggered the Sudden Reversal
XRP rocketed from a cycle low of $0.9877 on August 17 to a three-month high of $1.69 by August 22, a nearly 70% gain that outpaced Bitcoin’s 23.6% and Ethereum’s 28.1% over the same stretch.
That speed left momentum indicators deeply overbought, with the daily RSI reaching 88, a level last seen during July 2025’s all-time high near $3.65.
Crypto analyst ChartNerdTA described the surge as a genuine breakout rather than noise, driven by a liquidity trap for short sellers and positive funding rates. The subsequent unwind has since produced an 18% decline from the $1.70 peak, pulling the price into the $1.40-$1.38 range.
Broader market conditions compounded the move. Bitcoin cleared $80,000 for the first time in months on Tuesday before cooling back toward $78,000 on Wednesday, dragging altcoins lower as traders braced for tonight’s core PCE inflation data and NVIDIA’s earnings report ahead of Jackson Hole.
Why the $1.40 Level Matters So Much Right Now
ChartNerdTA characterizes the pullback as a healthy correction, resetting overbought conditions rather than a trend reversal. The critical battleground sits at $1.40.
A daily close below that level would expose structural supports between $1.30 and $1.20, with a deeper breakdown risking a return toward $1.00.
Reclaiming the weekly 50 EMA near $1.54 would restore short-term bullish control and open a path back toward $1.70, with longer-term targets extending toward $1.80-$2.00 if momentum returns.
Analyst EGRAG CRYPTO offered a more cautious counterpoint, referencing a fractal pattern first shared in March. While acknowledging the risk of confirmation bias in relying on fractals, the trader warned that failing to retest recent lows could leave momentum traders sidelined, chasing local tops only to panic-sell subsequent bottoms.
Not every signal point is bearish, however. XRP-linked ETFs have logged six consecutive days of net inflows, according to SoSoValue data, suggesting the current weakness reflects a leverage unwind rather than institutions exiting positions.
CryptoQuant analyst Pelinay separately flagged long liquidations reaching $4.66 million, up 31.82% in a single day, warning that selling pressure could persist before any stabilization.
Subscribe to our YouTube channel to watch leaders and journalists provide expert insights.
Whether this marks a constructive reset or the start of a deeper corrective phase will likely hinge on the bulls’ ability to defend $1.40 in the coming sessions.
The post XRP Leads Crypto Market Pullback With Nearly 7% Drop: Is the Rally Over? appeared first on BeInCrypto.
NPFL Set to Earn $7.5m from Three-Year Euromatch Sponsorship Deal
ASUS Expands 2026 TUF Gaming Lineup With New TUF Gaming 16 and A15
Helena Bonham Carter, 60, enjoys London stroll with art historian boyfriend, 38
-
Fashion5 days agoWeekend Open Thread: Madewell – Corporette.com
-
Business4 days agoMusk’s Tesla, SpaceX Confirm $16.8 Billion ‘Terafab’ Chip Plant as World’s Largest Building in Texas
-
Crypto World21 hours agoSpaceX stock could rise 75% to $240, JPMorgan says
-
Crypto World5 days agoanatomy of crypto’s biggest liquidation event since 2021
-
Crypto World2 days agoA $30 Billion AI Fund Implodes, Now the SEC Is Investigating Wall Street’s Role
-
Politics4 days ago6 months on, Irish renters crushed by effects of government housing bill
-
NewsBeat4 days agoThe ‘Lucky Dip Gang’ causing carnage for clicks: After five thugs were killed speeding in the wrong direction on a motorway, GUY ADAMS investigates a sick new trend… and why police aren’t even allowed to pursue them
-
Business3 days agoMystery AI Model ‘Ox Alpha’ Draws Developers With Free Access as Chinese Lab Origins Remain Debated
-
News Videos7 days agoDon’t Leave Your Financial Future To Chance | August 19, 2026
-
Business6 days agoFive Below: Kids Discount Retailer Reaps Rich Rewards
-
Business2 days agoModerna CEO warns China is pouring state money into mRNA technology
-
Business5 days agoUK firms in critical financial distress rise 9% to 53,756
-
Business2 days agoNVIDIA Stock Drops Nearly 2 Percent to $210 on Seventh Losing Day Ahead of Critical AI Earnings
-
Sports4 days agoDeshaun Watson fires back at Browns fans after being booed: ‘It’s a disrespectful thing’
-
Crypto World17 hours agoDid Trump Just Move SpaceX Stock With One Truth Social Post?
-
Entertainment7 days ago10 Most Perfect Fantasy Shows of the Last 25 Years
-
Crypto World6 days agoOptimism-funded team's deciding vote shifts $49 million in OP tokens away from users
-
Tech7 days agoOpenAI confirms ChatGPT is down as logins and signups fail
-
Crypto World3 days agoGoogle Gemini AI Predicts Ethereum Could Become the Trade Retail Misses in 2026
-
Business6 days agoPayPal and Venmo now accepted for tuition at several universities
You must be logged in to post a comment Login