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In brief Crypto firms can apply for UK authorization from September 30 to February 28, 2027, ahead of the regime taking effect on October 25, 2027. Overseas firms dealing, arranging or safeguarding for UK retail customers are caught, with no overseas persons exclusion available. Missing the February deadline costs firms the transitional cover that lets them keep operating while their application is assessed. Britain’s Financial Conduct Authority has told crypto firms how its incoming rulebook applies to them, publishing perimeter guidance on Wednesday, two weeks before applications for authorization open.The guidance covers issuing qualifying stablecoins, running trading platforms, dealing and…
For decades, the mechanics of global equity indexing were treated as plumbing—hidden, technical, and resolutely administrative. Providers like Morgan Stanley Capital International (MSCI) designed benchmarks to reflect the economic reality of public markets, not to shape it. Their mandate was descriptive, serving as a transparent mirror of global capital flows, sector weightings, and free-float market capitalizations. That architectural assumption has quietly fractured. Today, the sheer scale of passive index-tracking capital has transformed benchmark administrators from passive cartographers into de facto market regulators. When an index provider determines the eligibility criteria for inclusion in indexes such as the MSCI Global Investable…
Berkshire Hathaway has sold another 30 million Bank of America shares, a stake worth about $1.7 billion. The moves show up in Berkshire’s latest 13F filing covering the second quarter, with Warren Buffett’s successor Greg Abel took continuing a years-long BofA selling spree. Berkshire now holds 483.4 million shares worth about $27.5 billion, with Bank of America remaining one of its largest holdings. The firm also cut Capital One by 58%, to 3 million shares worth about $602 million. It trimmed Ally by 7%, to 27 million shares worth about $1.24 billion, or roughly 9% of the company. The sales came…
In brief Five hundred officers will be recruited across police forces, the National Crime Agency and the Crown Prosecution Service. The £500 million comes from the economic crime levy and runs over three years. It will build upon Operation Destabilise, the case against Russian cash-to-crypto networks. Britain will recruit 500 officers to trace and seize criminal money, backed by £500 million over three years, the Home Office said on Tuesday.The money funds a new Anti-Money Laundering and Asset Recovery Strategy and comes from the economic crime levy on regulated firms. Officers will be spread across police forces, the National Crime…
A man who orchestrated a massive Ponzi scheme has admitted taking more than $25 million from investors. The DOJ says Siddharth Jawahar, an Indian national who has lived in the United States illegally since 2005, will serve an 11-year prison term plus three years of supervised release. Prosecutors say he took in more than $35 million from investors, but invested only about $10 million. He used the rest to pay earlier victims and fund private plane flights, luxury hotels and expensive restaurants. “Jawahar used money from new investors to repay older investors and to fuel an extravagant lifestyle that included travel…
Federal authorities are charging two former engineers at a major brokerage with misusing secret company information to trade cryptocurrency derivatives ahead of public announcements. The U.S. Department of Justice says the pair accessed nonpublic details about which tokens Robinhood Crypto planned to list and then bought perpetual futures on the decentralized exchange Hyperliquid before those listings became public. Prosecutors allege the defendants breached confidentiality duties owed to their employer while trading between 2025 and 2026. Each defendant profited more than $50,000 from the trades. Says U.S. Attorney Jamie McDonald, “Misappropriating confidential information to trade in the derivatives markets for personal…
In brief CoinEx will formally close on Dec. 22, 2026, nine years to the day after it launched, with new signups already halted and spot trading ending Sept. 29. Founder and CEO Haipo Yang said he rejected a sale in favor of a “clean ending,” and CoinEx will repurchase its CET token at its original 0.005 USDT listing price with no cap. CoinEx joins BitMEX and BitMart in a wave of 2026 exchange closures, months after facing separate scrutiny over alleged Iran-linked crypto flows. Cryptocurrency exchange CoinEx said Tuesday it will cease operations and begin an orderly wind-down, closing the…
September 16th, 2026 – London, United Kingdom New developments extend BASIS across real-world asset and AI-native infrastructure while introducing automated reward restaking for BTC, ETH, SOL, and PAXG participants BASIS, the institutional-grade crypto yield and staking platform built on market-neutral execution infrastructure, is continuing to expand its institutional footprint with three new developments: an ecosystem partnership with XDC Network, a collaboration with Zypher DAO, and em-dash (Auto Earn an automated) reward restaking feature now live for BTC, ETH, SOL, and PAXG participants. Yield Infrastructure Meets Real-World Financial Infrastructure BASIS and XDC Network have announced a new partnership exploring opportunities at…
In brief The Senate votes on cloture for the Clarity Act at 2:15 p.m. ET Tuesday, needing 60 votes to advance H.R. 3633 to floor debate. Sen. Cynthia Lummis says the revised bill folds in more than 120 Democratic demands, including new ethics restrictions Trump agreed to accept. Polymarket’s odds on Clarity becoming law in 2026 fell to 19% Tuesday from 35% a day earlier, as Bitcoin slipped back below $77,000. Sen. Cynthia Lummis, a long-time proponent of Bitcoin and digital assets, says Democrats are out of reasons to reject the Clarity Act, but supporters of the landmark cryptocurrency legislation…
In brief Senators voted down cloture on the motion to proceed to the Clarity Act. The vote concerned a procedural step toward considering the bill, not final passage. Today’s result followed months of negotiations over crypto ethics rules and stablecoin rewards. The U.S. Senate on Tuesday failed to clear a key procedural hurdle for the Clarity Act, setting back efforts to establish a federal framework for crypto markets.In a 49 to 50 vote, Senators voted to reject cloture on the motion to proceed—a step that limits debate on whether to take up the legislation and requires 60 votes.Myriad: Will Congress pass…
In brief OpenAI President Greg Brockman said the company has delayed several launches and reworked internal processes after safety and security concerns forced a rethink. The shift followed a May incident in which an OpenAI model without completed alignment training broke out of a research sandbox and reached Hugging Face’s production system. Brockman argued any coordinated industry slowdown should apply only to frontier labs building the most powerful system. OpenAI has already slowed down some of its most advanced AI development because of safety and security concerns, company President Greg Brockman said in a Bloomberg podcast interview published Monday.Brockman told…