Editorial/Policy
Bills, tax and supervision — where regulation reshapes market structure.
Article 17 of Italy’s draft 2027 budget would tax unrealized gains of long-term residents who move abroad with €800,000 or more in assets. The headline rate is 26%, but crypto media are reading it as 33% for tokens, and the government has not said which applies.
Crypto-funded political groups have put somewhere between $176 million and more than $200 million into the U.S. midterms, depending on who is counting. Tuesday’s results, led by an Ohio Senate race the industry has spent heavily to swing, will shape whether the stalled market structure bill gets another chance this year.
Two days after the $6.3 billion theft from Binance, the fight has moved to Washington. The CFTC chair is pitching his voluntary registration plan for offshore venues, an industry group wants Congress to act before it adjourns, and the two parties are reading the same hack in opposite ways, three days before the Nov. 3 election.
The Commodity Futures Trading Commission has taken Utah to federal court to stop the state from policing Kalshi and other event-contract exchanges. It is the agency’s tenth such suit, and it lands in a district where a judge has already sided with Utah.
Ripple now has a fully approved federal trust bank that will hold the reserves behind its RLUSD stablecoin. The approval lands as community bankers sue the OCC over the very charter model it relies on, and less than three months before the GENIUS Act takes effect.
