SEC Extends Review of PENGU and T. Rowe Crypto ETF Filings as Grayscale Seeks Options Approval
The U.S. Securities and Exchange Commission extended the review timelines for two proposed crypto ETFs—a Pudgy Penguins (PENGU) fund and a T. Rowe Price active crypto product—adding roughly 45 days of additional evaluation. The extensions were processed under the SEC’s 19b-4 pathway, giving the agency more runway to assess market structure, investor protections, and manipulation […]
Ripple Rules Out IPO Despite $40B Valuation and Wall Street Backing
Ripple says it is not planning an initial public offering, even after reaching a $40 billion private valuation and attracting significant interest from traditional finance. The company frames staying private as a deliberate choice, supported by fresh capital and a more stable regulatory backdrop.
SEC Charges Fake Crypto Platforms and AI Investment Clubs in Alleged $14 Million Scam
The U.S. Securities and Exchange Commission has charged a network of purported crypto trading platforms and AI-themed investment clubs, alleging a retail fraud that raised at least $14 million. Filed on December 22, 2025, in the U.S. District Court for the District of Colorado, the complaint targets three platforms and four investment clubs for conduct […]
Tokenized Stocks Go Onchain, but the SEC Still Controls the Keys
Tokenized stocks are advancing on public and permissioned blockchains, but U.S. securities regulators insist that control and custody remain a regulated function. The SEC’s Division of Trading and Markets has tied crypto-asset securities to broker-dealer custody rules via December 17, 2025 guidance, confirming that tokenized equities must sit inside existing “possession or control” frameworks rather […]
Ex-SEC Lawyer Breaks Down the Compliance Playbook for Tokenized RWAs
Former SEC counsel Ashley Ebersole argues that regulatory engagement, not technology, has been the principal bottleneck to making Real-World Assets (RWAs) compliant, and that recent shifts in U.S. regulatory posture are opening a realistic path for fully regulated tokenization. RWA models that satisfy securities requirements now turn on custody-and-contract architectures that clearly confer beneficial ownership […]
AFT urges Senate to withdraw Responsible Financial Innovation Act over tokenization risks to the $39 trillion retirement market
The American Federation of Teachers, representing 1.8 million members, has urged the U.S. Senate to withdraw the Responsible Financial Innovation Act, arguing it poses material risks to the $39 trillion retirement market. The union frames its appeal around a tokenization provision in the crypto market structure bill, linking a regulatory change to potential erosion of […]
CZ’s YZi Labs Launches Bid to Take Over the Largest BNB Treasury
YZi Labs has launched a formal boardroom challenge against CEA Industries (BNC), the publicly traded company that positioned itself as the world’s largest BNB treasury. Holding roughly 5% of BNC, YZi Labs filed an SEC consent solicitation after citing a 92% share-price collapse and a 0.79x NAV discount as evidence of management failure and governance […]