The U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) will hold a joint roundtable on Sept. 29 to advance regulatory coordination in the digital asset sector.

In a Sept. 5 joint statement, the agencies said fragmented oversight in the past had discouraged innovation and driven some crypto activity overseas. They stressed that harmonization is no longer optional, noting that a failure to coordinate has created uncertainty that hinders economic activity even when products are legally permissible.

SEC Chairman Paul Atkins and CFTC Acting Chairman Caroline Pham emphasized that harmonization can lower barriers, improve efficiency, and reaffirm US leadership in financial markets.

According to the financial regulatory chiefs:

“By working in lockstep, our two agencies can harness our nation’s unique regulatory structure into a source of strength for market participants, investors and all Americans.”

The event follows the President’s Working Group on Digital Asset Markets recommendations, which urged regulators to create a fit-for-purpose framework that supports innovation while protecting investors.

Key priorities

The Sept. 29 roundtable will examine measures to align US markets with the global, always-on economy.

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Among the priorities under consideration is the expansion of trading hours across select asset classes. The financial regulators said markets such as foreign exchange, gold, and crypto already operate continuously, and extending trading windows could improve liquidity while maintaining investor protections.

The agencies also plan to review frameworks for prediction markets and perpetual contracts. By clarifying rules for event-based contracts and onshoring compliant perpetual swaps, they aim to channel more trading activity back to US platforms.

Another proposal centers on portfolio margining. A coordinated framework could allow firms to recognize offsetting positions across asset classes and reduce capital inefficiencies.

The SEC and CFTC stressed that harmonized margin requirements would make net exposures easier for market participants while preserving risk safeguards.

The agencies further intend to explore exemptions that provide safe harbors for decentralized finance (DeFi) projects. These exemptions would create structured environments for peer-to-peer trading of spot, leveraged, or margined products without undermining investor protection standards.

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We are excited to announce that Kraken has secured a crypto-deduction regulation (MICA) license from the Central Bank of Ireland (CBI) based on the European Union market.

This marks a pivotal milestone in Europe’s expansion, unlocking the ability to scale faster across the region by providing regulated services and directly engaging clients in all 30 EEA countries.

“Along with securing a license from the Central Bank of Ireland, which has a long legacy and experience as a strict financial regulator, it is not just about compliance, but it is a strong signal of Kraken’s commitment to expanding crypto ecosystems through responsible innovation.

“Being the first major global crypto platform licensed by the CBI, we confirm that we affirm Kraken’s commitment to building it in the long run. Trust is the most valuable currency in crypto, and over the past few years we have worked tirelessly to meet CBI’s gold standard expectations. Our secure, accessible, fully regulated cryptographic services service serves millions of people across the EU.”

“We are deeply grateful for the professionalism of the Central Bank of Ireland and the consistent support of the Irish government and IDA. This collaboration is a blueprint for how the public and private sectors can work together to build a safer and more innovative financial future for Europe.

Expanding a strong foundation

Kraken already has Virtual Asset Service Provider (VASP) registrations in major European markets such as Ireland, Belgium, France, Italy, the Netherlands, Poland and Spain. We were the main force in euro-denominated crypto trading, which introduced the first BTC/EUR trading pair in 2013. Today, Kraken’s platform is most liquid and trusted in euro trading, reflecting the region’s deep roots.

Alongside MIFID licenses, where MIFID and EMI licenses are now protected by groups, Kraken is able to extend its regulated services to millions of clients across the EU. Together, these licenses support great growth opportunities across retail, professional and institutional client segments, including spot trading, derivatives, and payments.

For clients, MICA offers additional assurance that Kraken’s services will comply with a consistent set of EU-wide regulatory standards, including stronger consumer protection, greater transparency and robust surveillance, such as enhanced consumer protection, greater transparency and robust surveillance, for Craken to strengthen long-term trust over the long term.

We look forward to announcing the launch of a regulated crypto derivative in Europe and providing clients and partners with access to a range of liquid futures equipment within an all-recognized regulatory framework.

Eligible clients and partners in the European Economic Area (EEA) are now able to trade a wide range of crypto derivatives, including both permanent and fixed maturity agreements. These products comply with the Financial Instruments Directive (Mifid II) market and offer them through MIFID-regulated investment companies that we acquired earlier this year.

One of Europe’s most fluid onshore regulatory brokers and crypto derivative exchanges, Kraken Derivatives offers facility-grade infrastructure, strong local FIAT support and flexible collateral options. This allows traders to optimize capital allocation and manage risk more effectively. The launch of MiFID controlled futures is an important step to strengthening our market position by providing these benefits under a reliable regulatory regime.

“Europe is one of the fastest growing regions for digital asset trading and investment, some of the most sophisticated and demanding clients and institutions,” says Shannon Kurtas, head of Kraken. “The launch of regulated derivatives in Europe is very timed to meet this growing demand, highlighting our commitment to providing reliable and compliant access to the best markets and trading opportunities.”

Since acquiring its first regulated crypto derivatives venue in 2019, it has built one of the deepest global liquidity pools for crypto-trading derivatives. The deployment of the mid-fid control derivative marks another major milestone. This strengthens our leadership as a comprehensive and compliant platform for crypto trading in Europe.

Kurtas added: “With a regulated framework, clients and partners are increasingly looking for comprehensive products. This launch allows futures to be traded seamlessly as part of a complete product from one of Europe’s most established platforms.

Our new derivative offerings are available through Payward Europe Digital Solutions (CY), a Cyprus-based entity regulated under MiFID II.

A federal judge has approved a motion to suspend the lawsuit filed by a group of state attorneys general and the advocacy group DeFi Education Fund against the U.S. Securities and Exchange Commission (SEC).

The complaint filed in November alleges that the SEC acted beyond its authority in filing enforcement actions against crypto exchanges, arguing that the power the regulator asserts over digital assets belongs to individual states.

“[W]ithout Congressional authorization, the SEC has sought to unilaterally wrest regulatory authority away from the States through an ongoing series of enforcement actions targeting the digital asset industry, premised on the theory that practically all purchases and sales of digital assets are ‘investment contracts.’”

On April 16th, Judge Gregory Van Tatenhove of the Eastern District of Kentucky ordered a 60-day pause on the deadlines and legal proceedings related to the case following the appointment of pro-crypto businessman Paul Atkins as the new SEC chair.

The development comes as the SEC takes a more friendly approach to the digital assets industry. The securities watchdog has already dropped numerous key crypto cases, including those involving the blockchain payments firm Ripple and the crypto exchange Kraken.

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The Dubai Financial Services Authority (DFSA) has invited firms to express interest in joining its Tokenization Regulatory Sandbox before April 24, 2025.

In a March 17 announcement, the DFSA—an independent regulator overseeing the Dubai International Financial Centre (DIFC)—stated that the initiative targets firms looking to offer tokenized investment products and services.

The sandbox provides a controlled environment for testing tokenized financial solutions under regulatory supervision.

This initiative comes as tokenization gains traction worldwide. Data from Rwa.xyz shows that the real-world asset (RWA) tokenization market is valued at approximately $18.86 billion. The sector has seen over a 5% increase in users in the past month alone.

Who can participate?

The DFSA outlined that eligible services include tokenized equities, bonds, sukuk, and collective investment fund units.

Both existing DFSA-authorized firms looking to expand into tokenization and new applicants that meet the necessary requirements can apply.

Applications will be accepted from March 17 until April. Once submitted, firms will undergo an assessment process. Successful applicants will gain access to structured testing opportunities and tailored regulatory guidance within the sandbox.

According to the DFSA, only firms with strong business models and a solid grasp of regulatory compliance will be selected.

The initiative falls under the regulator’s broader Innovation Testing License program, designed to help companies refine financial products before full authorization.

UAE’s pro-crypto approach

The tokenization sandbox aligns with the UAE’s broader push to strengthen its position as a global leader in digital finance.

This month, the authorities approved a cross-border payment license for Ripple, a crypto payment firm. The license makes Ripple the first blockchain-based payment provider to receive regulatory clearance in Dubai’s financial ecosystem.

Outside of Dubai, Abu Dhabi has also taken steps to integrate stablecoins into its financial system, incorporating Tether’s USDT for broader institutional use.

Moreover, Coinbase and Chainlink have launched a joint initiative aimed at expanding institutional crypto adoption in the region.

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In a significant development for one of crypto’s largest non-profits, the Ethereum Foundation (EF) has revealed a new leadership structure consisting of two co-directors. This move comes after backlash from community members on the recent struggles and issues of the ETH ecosystem.

EF Introduces Two Executive Directors

On Saturday, March 1, the Ethereum Foundation unveiled its new leadership structure consisting of two co-executive directors — Hsiao-Wei Wang and Tomasz Stańczak. This new structure will come into place following the changes that saw former executive director Aya Miyaguchi take up the role of the organization’s president.

Wang, a core researcher at the EF, has experience in several research areas and was a major contributor to the Ethereum beacon chain — launched in December 2020. “Just as Ethereum continues to evolve, so does the EF—but the core values we have upheld for years remain unchanged,” Wang said in reaction to her appointment with a post on social media platform X.

Stańczak is the founder of Nethermind, one of the largest execution clients on the Ethereum blockchain. According to the announcement blog post, the crypto founder will be looking to replicate Nethermind’s effective talent recruitment and training pipeline at the Foundation.

Source: @tkstanczak/X

The announcement blog post read:

Under the leadership of Hsiao-Wei and Tomasz, EF is going to ensure that Ethereum and the ecosystem can grow while at the same time making sure that this growth advances the core values that motivated Ethereum’s existence in the first place, such as open source, permissionless global collaboration, privacy and security.

Wang and Stańczak will resume their new roles as co-executive directors of the Foundation on March 17, 2025. It is worth noting that Stańczak will “continue to be involved in Nethermind, but is in the process of transitioning out of his CEO position.”

Danny Ryan Returns To Ethereum Ecosystem

Wang is not the only EF researcher that will be assuming a higher role in the ecosystem. Former developer Danny Ryan will now return as co-founder of Etherealize, which will serve as the institutional marketing and product arm for the Ethereum ecosystem. The leadership position at Etherealize will be shared with Vivek Raman.

Ryan said in a post on X:

Our work at [Etherealize] sits at the confluence of real adoption, commonsense regulation, ecosystem development, and critical R&D across L1, L2, and the application layer. Where [Vivek] serves as a bridge from the real world into Ethereum, I’ll serve as a bridge from Ethereum back into the real world.

As of this writing, the Ether token is valued at $2,212, reflecting a 20% price decline in the past seven days.

The price of ETH on the daily timeframe | Source: ETHUSDT chart on TradingView

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