Political memecoins blur public power and private profit: GSN CEO

GSN CEO Ryan Kirkley says political memecoin rules should target financial conflicts without restricting stablecoins or tokenization.

• GSN CEO Ryan Kirkley advocates for regulations targeting financial conflicts of interest related to political memecoins, rather than broad restrictions on digital assets.
• He proposes focusing rules on officials' ownership, promotion, control, disclosure, and financial benefit from such tokens, distinguishing them from stablecoins and tokenized financial assets.
• Kirkley suggests California's approach can serve as a model for other jurisdictions to address political conflicts without complicating broader crypto regulations.

Topics: Political endorsements opposition, Legal regulatory, Blockchain usage, Pro innovation policy, Securities law classification, Private enterprise ledgers

Tags: #politicalmemecoins #ryankirkley #globalsettlementnetwork #financialconflicts #disclosure #assetclassification #californiaab2409 #tokenization #stablecoins #publicoffice

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SEC Innovation Exemption: What RIAs Need to Know About Tokenized Stocks

A $74M pre-IPO scam targeted 800+ investors. Learn the warning signs advisors can teach clients to spot private-market investment fraud.

• The SEC has issued a temporary 'Innovation Exemption' allowing qualifying venues to trade tokenized NMS stocks on-chain using permissioned AMMs, creating a new execution landscape for listed equities.
• This exemption is a five-year, conditional measure, not a new asset class, focusing on secondary trading of genuine NMS stock tokens with specific investor protection conditions.
• RIAs should understand this evolving framework for its implications on best execution, custody, and disclosure, and have an opportunity to provide input during the public comment period.

Topics: Asset types, Legal regulatory, Institutional adoption, Financial instruments, Securities law classification, Asset manager initiatives

Tags: #secinnovationexemption #tokenizedstocks #registeredinvestmentadvisors #tokenizedsecuritiesvenues #automatedmarketmakers #blockchain #nmsstock #bestexecution #custody #disclosure

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US probes insurers owned by billionaire Mark Walter over asset disclo…

• US prosecutors and the SEC are investigating Mark Walter's insurance companies, Delaware Life and Clear Spring Life, for alleged inadequate disclosure of asset ownership.
• The investigation focuses on whether private credit investments were made with counterparties tied to Walter's holding company, TWG Global, leading to a significant reclassification of affiliated investments.
• Regulators are concerned about asset managers using insurer funds for risky investments and the treatment of affiliated assets, with S&P Global Ratings revising Delaware Life's outlook to 'negative'.

Topics: Asset types, Legal regulatory, Risk default, Private credit high yield, Securities law classification, Credit counterparty risk, Investor protection disclosure

Tags: #markwalter #delawarelife #clearspringlife #sec #usattorneysoffice #privatecredit #affiliatedinvestments #guggenheiminvestments #regulatorycapital #disclosure

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CFTC chair Selig defends decision to approve ‘perps’ in U.S.

Michael Selig said that incumbents will always fear the future, but it's important to develop the new asset class domestically rather than only offshore.

• CFTC Chair Michael Selig defended the agency's approval of perpetual futures (perps) for Bitcoin and other cryptocurrencies in the U.S.
• Selig emphasized the importance of developing new asset classes domestically under robust regulations, rather than allowing them to develop solely offshore.
• He dismissed concerns about leverage and complexity, highlighting planned disclosures and suitability assessments for traders.

Topics: Legal regulatory, Jurisdictions, Institutional adoption, Securities law classification, Regulatory sandboxes pilots, Onboarding prime brokerage

Tags: #michaelselig #cftc #perpetualfutures #kalshi #bitcoin #derivatives #regulation #usmarket #leverage #disclosure

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