The Kampala Report

[The Kampala Report @reporter141]

🚨🗞️NEW: SEC's Tokenization Exemption Sparks Questions Over Which Blockchains Qualify

Canton, Ethereum L2s and a big question for the SEC: What actually counts as public and permissionless? Plus, more companies object to having their shares tokenized.

https://t.co/eQqIuaFlZF

[The Kampala Report @reporter141]

New citizen right unlocked! ���🇸

[The Kampala Report @reporter141]

Are we entering the ‘it won’t be called crypto, it’ll just be finance’ era?

[Chris Dixon @cdixon]

https://t.co/pQssLkjGX8

[The Kampala Report @reporter141]

The SEC says inclusion on the list doesn’t mean a firm has met the exemption’s conditions.

[The Kampala Report @reporter141]

🚨NEW: The @SECGov says three firms have notified the agency of their intent to operate tokenized securities venues, or TSVs, under its new innovation exemption.

[The Kampala Report @reporter141]

📌Kephas Corp. is @Perpetuals_com’s U.S. subsidiary, led by founder @PGruhnPDC, the former head of FTX Europe. Its venue plans to run on Kronos X Public, a public, permissionless Layer 2, using permissioned trading pools.

[The Kampala Report @reporter141]

📌TSV LLC is owned by Ali Abrar and Ryan Trinkle, co-founders of Obsidian Systems. Trinkle also sits on the @CantonFdn board. TSV plans to operate on @CantonNetwork.

📌OKXICE is a joint venture between @okx and @ICE_Markets. It plans to operate on X Layer, OKX’s Ethereum Layer 2

[The Kampala Report @reporter141]

“Attempting to address deposit flight and economic harm after it has occurred is the wrong approach,” ABA CEO @BankersPrez says.

[The Kampala Report @reporter141]

🚨UPDATE: @ABABankers isn’t happy with the @USOCC’s final GENIUS Act rule, saying it “will preserve the status quo for crypto platforms” after the regulator dropped its proposed restrictions on stablecoin yield.

[The Kampala Report @reporter141]

🚨NEW: OCC Finalizes GENIUS Act Rules, Backs Off Stablecoin Rewards Restrictions

The @USOCC has finalized its GENIUS Act rules, dropping proposed restrictions on stablecoin rewards and leaving a major fight between banks and crypto firms unresolved.

https://t.co/Tn2WQiCYZq

[The Kampala Report @reporter141]

🚨NEW: OCC Finalizes GENIUS Act Rules, Backs Off Stablecoin Rewards Restrictions

The @USOCC has finalized its GENIUS Act rules, dropping proposed restrictions on stablecoin rewards and leaving a major fight between banks and crypto firms unresolved.

https://t.co/Tn2WQiCYZq

[The Kampala Report @reporter141]

🚨🗞️NEW: New York and Wyoming Join Forces on Crypto Regulation

Plus, the @USOCC signals its final GENIUS Act rules are coming by month-end, what to watch this week in macro and crypto, and the stories making headlines.

https://t.co/ktyy676wL3

[The Kampala Report @reporter141]

🚨🗞️NEW: Trump’s Top Crypto Adviser Has Left the White House. Now What?

Plus, Fairshake ramps up its Senate spending but holds fire on Clarity Act holdouts as the GOP’s majority narrows ahead of the midterms.

https://t.co/LZgOxoPCo1

[The Kampala Report @reporter141]

🚨NEWS: @USComptroller Jonathan Gould says the @USOCC’s final rule implementing the GENIUS Act is expected “in the very near term,” before the end of October.

He made the remarks at the Milken Institute’s “Building the New Digital Economy” event, held alongside DC Fintech Week

[The Kampala Report @reporter141]

@SECPaulSAtkins called it “a new spirit of harmonization, innovation, and investor choice.”

[The Kampala Report @reporter141]

🚨NEW: The SEC has approved @Cboe to list binary options tied to KPIs (key performance indicators) reported by public companies, including @coinbase, @RobinhoodApp and @MARA.

[The Kampala Report @reporter141]

For crypto, this creates a new way to trade crypto-linked company performance beyond betting directly on $BTC’s price. The SEC approved this specific securities-options structure, while leaving room for differently structured contracts to fall under CFTC jurisdiction.

[The Kampala Report @reporter141]

The contracts let traders take yes/no positions on metrics like Coinbase trading volume, Marathon’s BTC production and Robinhood’s customer and revenue numbers.

Robinhood is expected to be the first retail broker to offer them.

[The Kampala Report @reporter141]

“The White House appreciates his service to the Trump administration and wishes him the best in his future endeavors,” an official said

[The Kampala Report @reporter141]

🚨NEWS: patrickjwitt’s detail to the White House Crypto Council has expired, ending his role as the council’s executive director, the White House confirmed in an email to me.

[The Kampala Report @reporter141]

I’ve emailed the @WhiteHouse three times over the past week seeking comment on whether @patrickjwitt is still serving as executive director of the White House Crypto Council. No response. Witt declined to comment.

[The Kampala Report @reporter141]

Coal and firearms businesses were among those most affected. The report also cited crypto businesses and called on Congress to prevent politically motivated debanking.

[The Kampala Report @reporter141]

“We found that all of these banks had adopted reputation risk policies at various levels which allowed political considerations, public opinion, and social pressures to influence who banks deemed not worthy to access financial services.”

[OCC @USOCC]

The OCC’s supervisory review of debanking activities at the nine largest national banks it supervises found that these banks had policies that required, encouraged, or otherwise influenced banks to deny or limit access to financial services to Americans because of their political or religious beliefs or affiliations or their lawful business activities. Read about the OCC’s findings and its efforts to guarantee fair banking for all Americans. https://t.co/MveW1JnwTH