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CFTC Opens Next Phase of Crypto Sprint, Seeks Public Input on Broader Rules

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In brief

  • Acting chair Caroline Pham said Thursday the sprint expands to custody, leveraged retail trading, and consumer protections, with feedback due October 20.
  • The initiative is part of a four-phase process that began August 1, running alongside the SEC’s Project Crypto.
  • Observers told Decrypt the U.S. is shifting from enforcement to enablement, positioning itself to set global standards in digital asset markets.

The Commodity Futures Trading Commission is proceeding with the third phase of its “crypto sprint,” a series of accelerated rulemaking efforts designed to implement recommendations from the President’s Working Group on Digital Asset Markets.

“The Administration has made it clear that enabling immediate trading of digital assets at the Federal level is a top priority,” acting CFTC chair Caroline Pham wrote in a statement on Thursday.

The CFTC’s latest sprint expands beyond spot crypto trading to address all remaining recommendations from the working group’s report on strengthening American leadership in technologies such as crypto and digital assets.



The CFTC appears to be “trying to lay a regulatory bedrock by seeking to establish a unified, federal-level spot market for crypto assets,” Andrew Rossow, a public affairs attorney and CEO of AR Media Consulting, told Decrypt.

“It begins to address this state-by-state fragmentation and long-time occupancy of this grey zone,” Rossow said, adding that he thinks the moves are made as part of a “federal legitimacy strategy” to create “foundational reform.”

Still, retail investors would “most likely benefit from heightened protections,” once the “federal handcuffs” are lifted to restore trust in a space “long tarnished by poor oversight,” he added.

What’s it all about

The report seeks to provide a unified federal framework for digital asset markets, addressing gaps in market structure, custody, stablecoin regulation, and anti-money laundering standards.

Remaining sprints are expected to tackle unresolved issues around DeFi oversight, banking access, tax clarity, and inter-agency coordination.

Thursday’s announced sprint is the third in a four-part series. The first, on August 1, laid the framework. The second, on August 4, launched the spot trading initiative. 

The latest expands to broader rulemaking, while a forthcoming fourth sprint is expected to translate stakeholder feedback into formal rules and supervisory guidance.

“The U.S. is asserting control over digital dollars and setting the standards others may follow,” Ray Youssef, CEO of crypto messaging and P2P trading app NoOnes, told Decrypt. “Countries that once hesitated may be pushed to adopt similar frameworks or risk falling behind in the race to modernize finance.”

The CFTC has set an October 20 deadline for comments on the broader set of recommendations. The federal agency did not immediately respond to Decrypt’s request for comments.

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Federal Committee To Review State-Level Rules

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US federal regulators are set to review state regulations of stablecoins to “even out” rules across jurisdictions under the new federal regulatory framework for the sector, the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act.

State-Level Stablecoin Rules To Face Federal Review

A federal committee led by the US Treasury Secretary is expected to start evaluating state-level regulatory regimes to determine whether they are similar to the federal regulatory framework under the GENIUS Act.

Following last month’s enactment of the landmark crypto legislation, the Stablecoin Certification Review, comprised of the US Treasury Secretary and the chairmen of the Federal Reserve and the Federal Deposit Insurance Corporation, is in charge of reviewing state-by-state rules and “establish broad-based principles for determining whether a State-level regulatory regime is substantially similar to the Federal regulatory framework under this Act.”

Excerpt from the GENIUS Act. Source: congress.gov

The requirement aims to level out regulatory approaches between states to make compliance by stablecoin issuers more seamless across jurisdictions, as issuers face a different set of rules and policies depending on each jurisdiction, with some states having a stricter approach to the industry while others have a more welcoming strategy.

Gavin Meyers, a financial services regulatory partner at Pierson Ferdinand LLP, told Bloomberg Law that “It creates a potential for less of a mosaic of state-by-state regulation, which kind of plagues other aspects of the financial industry,” asserting that “eliminating that barrier is a highly beneficial aspect of the committee.”

“There will be some wiggle room in states that have been more favorable to crypto generally, like Wyoming,” Meyers affirmed. Notably, Wyoming has passed over 45 pieces of crypto-related legislation since 2016, including a bill in 2023 that authorized a state commission to issue stablecoins pegged to the US dollar.

Moreover, it launched Frontier (FRNT), the US’s first state-issued stablecoin, on seven blockchains, including Ethereum, Solana, and Avalanche, on August 19. Nonetheless, “due to lingering regulatory hurdles, the token is not yet available to the public,” noted crypto journalist Eleanor Terrett on X.

The Importance Of Clear Frameworks

According to the Bloomberg Law report, the federal Committee is ready to “even out the state-by-state approach, curtailing stricter regulatory regimes or building upon permissive state frameworks.”

Rosemary Spaziani, a partner at Gibson Dunn & Crutcher LLP, told the news media outlet that “If 40 states all sign on to what the federal government does, those are going to be pretty simple rubber stamps—they’re going to adopt a model act and incorporate it into their laws,” while “the ones that deviate are probably going to be a bit of a bottleneck.”

Additionally, the companies hoping to enter the stablecoin sector will likely welcome federal oversight to avoid potential compliance issues. Meyers noted that “If you are licensed by whichever state that qualifies under the ‘GENIUS Act,’ that certification is good across the country.”

Recently, leading banking associations sent a joint letter to the US Senate Banking Committee calling for amendments to the GENIUS Act. The associations asked the lawmakers to address multiple “loopholes” in the landmark legislation, arguing that a clear regulatory framework is crucial for the digital assets market.

Among the recommendations, they urged the Committee to strengthen the prohibition on interest payments related to payment stablecoins and to repeal a section of the GENIUS Act that allows uninsured, out-of-state-chartered financial institutions to operate without the host states’ approval, which could complicate regulation.

Bitcoin’s performance in the one-week chart. Source: BTCUSDT on TradingView

Featured Image from Unsplash.com, Chart from TradingView.com

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Best Presales to Buy as US Aims for More Crypto & Banking Rules
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Best Presales to Buy as US Aims for More Crypto & Banking Rules

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The GENIUS Act sets the stablecoin baseline.

But when the House and Senate reconvene in early September, Washington will wade into one of the most consequential financial policy seasons in years – one that could redraw lines between banks, fintechs, and crypto firms.

The GENIUS Act might be revised. The CLARITY Act goes to the House. The SEC and CFTC weigh in on various regulations – and of course, the courts will have their say as well.

As lawmakers and regulators advance a mix of statutes and rules that touch everything from stablecoins and token classification to open banking and federal payments, Washington’s fall agenda could set crypto’s course for the foreseeable future.

And it could also set up these three of the best crypto presales for instant post-launch success.

Will GENIUS Be Revised?

In July, the GENIUS Act became the first federal framework for payment stablecoins. It requires full-reserve backing, AML/BSA compliance, and empowers Treasury and the OCC on oversight.

Early commentary noted several potential loopholes and complications with the act. Perhaps that’s to be expected with a ‘first-ever’ piece of legislation, but it has already highlighted the need for further clarification – and perhaps additional legislation. Agencies now must write implementing rules, and Treasury has opened a public comment process through mid-October.

In the meantime, the ICBA wrote an open letter to the US Congress highlighting flaws with the GENIUS Act that could undermine key provisions in US interstate commerce.

Banking trade groups (ABA, BPI, ICBA, and others) support a federal framework but want Congress to repair perceived GENIUS Act loopholes.

Those include treatment of interest/yield on stablecoins via affiliates, limits on non-financial company issuers, and a controversial interstate provision (often cited as Section 16(d)) that they say undermines the dual banking system.

Expect lobbying to intensify as committees take up follow-on technical fixes.

The CLARITY Act Is Up Next as Agencies Push Modernization

The CLARITY Act (Digital Asset Market Clarity Act of 2025) would define ‘digital commodities,’ create CFTC registration categories (exchanges, brokers, dealers), and help settle the SEC–CFTC divide on many tokens.

The bill has administration backing and is expected to move when Congress returns. Passage would give market participants clearer lanes for token listings, custody, and disclosures.

Regulators aren’t waiting on Congress. The SEC and CFTC continue to stake out interpretation territory on what is a security vs. a commodity. At the same time, the CFPB’s Open Banking Rule (Section 1033) has hit a dramatic twist – the Bureau, under new leadership, moved to have its own rule vacated and is preparing a narrower rewrite.

In the meantime, the fate of the law remains in the courts’ hands. They’ve stayed the rule during the reset, leaving fintech data-sharing rights and obligations in limbo for the fall.

Meanwhile, the White House and Treasury kicked payments modernization into high gear: paper checks for most federal payments end on September 30, 2025.

Over 3M people are employed by the federal government, not to mention contractors, consultants, and everyone else receiving payments.

The end of paper checks should rapidly push more Americans toward faster, digital financial rails. That’s the perfect setting to launch a crypto presale.

Bitcoin Hyper ($HYPER) – Hybrid Layer 2 Expands Bitcoin For DeFi, Faster Payments

Bitcoin Hyper ($HYPER) gives Bitcoin users faster payments, lower fees, and native on-chain staking – all through a Bitcoin Canonical Bridge that deposits wrapped $BTC on the Solana Virtual Machine (SVM).

It’s an innovative architecture that uses SVM’s lightning-fast payment resolution and ability to execute the complex smart contracts necessary for DeFi. At the same time, Bitcoin Hyper preserves final settlement for the Bitcoin original layer, leveraging the OG crypto’s rock-solid security and dependability.

What is Bitcoin Hyper? It’s the next evolution of Bitcoin, pushing the ecosystem forward without losing the unique features that make $BTC such a great store of value.

Read all the details in our guide on how to buy Bitcoin Hyper, and check out the project whitepaper for more info. We think the project’s price could skyrocket from the current $0.012755 to $0.32 by the end of 2025.

Visit the Bitcoin Hyper presale to learn more.

SUBBD Token ($SUBBD) – Unlock $85B Content Creation Market

SUBBD Token applies one red-hot market – crypto – to another – content creation. By placing a content creation platform on-chain, SUBBD unlocks new ways for fans and creators to interact, using $SUBBD as a utility token.

Platform staking benefits, platform discounts, early access and behind-the-scenes content – everything is possible to token holders with $SUBBD.

The platform also features a full suite of advanced AI content management tools. Human creators can deploy AI influencers, use AI content workflows, and create AI livestreams to boost their own content.

The content creation market is already blisteringly hot, valued at $85B – bigger even than the crypto meme coin market and the best meme coins. That’s one reason we predict $SUBBD’s price could reach $0.301, a 435% increase from its current $0.056225.

The presale has already brought in well over $1M, so check out how to buy SUBBD.

Learn exactly what SUBBD is, then visit the presale page now.

BlockDag ($BDAG) – Directed Acrylic Graphs Achieve True Utility

DAGs – Directed Acrylic Graphs – power BlockDag, one of crypto’s most advanced Layer-1 blockchains. It’s a security-focused ecosystem with the Bitcoin-inspired Proof-of-Work consensus mechanism.

Proof-of-Work, and Blockdag’s security-focused approach, goes a long way to explain why $BDAG has experienced one of the best crypto presales of 2025, raising an incredible $376M.

With 150B coins, $BDAG’s tokenomics prioritizes mining operations, then the presale. Hold $BDAG to pay network fees and stake it to earn more on your tokens.

The testnet is now live as BlockDAG nears the conclusion of the presale.

Key Dates in Fall Agenda as Best Presales Launch

  • Early September: Congress returns; watch for CLARITY Act markups and hearings on GENIUS Act fixes.
  • End of September: Federal paper checks mostly end.
  • By Oct. 17: Treasury comment deadline on GENIUS Act implementation.
  • Throughout the fall, there will be court updates and CFPB actions on 1033, SEC/CFTC guidance shaping token classification, and proposed regulations on AI in digital finance.

The US government, under President Donald Trump and a wave of crypto-friendly appointees, could be about to transform the US economy. Digital initiatives and pro-crypto policies are just the beginning, and $SUBBD and $HYPER look ready to profit.

Do your own research – nothing here is financial advice.

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.



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Illinois Governor Slams Trump’s Crypto Backers While Signing New Rules

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Illinois on Monday approved two new laws that give state regulators stronger tools to police crypto businesses and curb scams at cash-to-crypto kiosks.

The governor used the moment to criticize US President Donald Trump for recent federal moves that, according to his office, loosen protections for consumers.

State Gives Regulator New Powers

SB 1797 hands the Illinois Department of Financial and Professional Regulation authority to supervise digital-asset exchanges and related firms.

“While the Trump Administration is letting crypto bros write federal policy, Illinois is implementing common-sense protections for investors and consumers,” Governor JB Pritzker said.

While Trump lets crypto bros write federal policy, Illinois is implementing common-sense protections for investors and consumers.

Today, I’ve signed into law first-of-their-kind safeguards in the Midwest for cryptocurrency and other digital assets.

We won’t tolerate fraudsters.

— Governor JB Pritzker (@GovPritzker) August 18, 2025

According to lawmakers, the measure forces companies to hold enough money, put up cybersecurity and anti-fraud systems, make clear investment disclosures, and meet customer service standards similar to other financial services.

The bill passed the state Senate in April and will make it clearer who answers to state rules and who does not.

Kiosk Rules Aim To Curb Scams

The second law, SB 2319, targets cryptocurrency kiosks and ATMs. Reports have disclosed several concrete limits: operators must register with regulators, kiosks must offer full refunds to qualifying scam victims, transaction fees can’t exceed 18%, and new customers face a $2,500 daily limit.

Those specific numbers are meant to slow down bad actors and give people a clearer path if they’re cheated. State lawmakers and consumer advocates have said those steps are long overdue.

BTCUSD trading at $115,077 on the 24-hour chart: TradingView

A Political Line Drawn

Pritzker used his signing remarks to draw a contrast with Washington. Based on reports from the governor’s office, he accused the federal government of stepping back from protections after an April signing that overturned a revised IRS rule about who counts as a broker in decentralized finance.

“At a time when fraudsters continue to evolve and consumer protections are being eroded at the federal level, Illinois is sending a clear message that we won’t tolerate taking advantage of our people and their hard-earned assets,” ​Pritzker said.

He framed the state laws as a direct response to growing fraud and a federal posture he sees as friendlier to industry players than to everyday users.

Featured image from ABC News, chart from TradingView

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Kraken Becomes Latest to Win a License Under Europe’s New Rules

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In brief

  • The license allows Kraken to operate under MiCA across the EU.
  • It follows Coinbase’s own approval in Luxembourg last week.
  • MiCA came into full force at the end of last year, establishing clearer rules for the industry across the region.

Kraken has secured a regulatory license under the European Union’s Markets in Crypto Assets (MiCA) framework, the company announced Wednesday. The authorization, granted by the Central Bank of Ireland, enables Kraken to offer crypto services across 27 EU member states, as well as three EEA member states.

“Securing a license from the Central Bank of Ireland… [is] a powerful signal of Kraken’s commitment to expanding the crypto ecosystem through responsible innovation,” Arjun Sethi, co-CEO of Kraken, said in a statement.

“Being the first major global crypto platform to receive authorization from the CBI affirms Kraken’s commitment to building for the long term,” he added. “This license reflects that effort and places us in a strong position to expand our product offering, grow our institutional and retail client base, and deliver secure, accessible, and fully regulated crypto services to millions more people across the EU.”

The euro currently accounts for 17.5% of global fiat spot crypto trading volume, more than double compared to a year earlier, according to the exchange.

An eye on Europe

The approval comes just a week after rival exchange Coinbase announced it had received a similar license in Luxembourg. Both moves highlight how major crypto platforms are racing to align with MiCA ahead of its phased implementation.

MiCA, which has been fully enforced since the end of last year, introduced a unified regulatory regime for crypto asset service providers across the EU.



However, in recent weeks, the ability of firms licensed in one member state being able to offer their services across the entire bloc without needing separate approvals elsewhere has drawn criticism.

Some industry participants and regulators warn it may encourage firms to seek approval in jurisdictions with lighter-touch regulatory regimes, then expand operations more broadly, an issue that has also been seen in other industries.

Peter Curk, CEO of UK-based ICONOMI, previously warned that this could lead to a “race to the bottom” in regulatory enforcement standards. 

The European Securities and Markets Authority is currently reviewing Malta’s licensing practices and is expected to release a report on its findings.

Kraken already holds Virtual Asset Service Provider registrations in Ireland, Belgium, France, Italy, the Netherlands, Poland, and Spain.

Edited by Sebastian Sinclair

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Senate Banking Committee Sets Out Plan For Crypto Market Rules

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In brief

  • Senate Republicans on the Banking Committee have outlined principles for market structure legislation.
  • The principles emphasise clarity around regulation, promoting innovation and consumer protection.
  • It comes as Democrats attempt to prevent the Trump family’s extensive crypto investments.

The Senate Banking Committee on Tuesday released a new set of principles aimed at guiding the development of comprehensive crypto market legislation.

“As Congress considers a regulatory framework for digital assets, our top priority must be providing legal clarity and certainty without stifling innovation,” Senator Thom Tillis (R-NC) said. “These principles strike the right balance by protecting consumers, promoting innovation, and clearly defining the roles of regulators.”

Those principles, spearheaded by Senate Banking Chairman Tim Scott (R-SC), Subcommittee on Digital Assets Chair Cynthia Lummis (R-WY), and Senators Tillis and Bill Hagerty (R-TN), emphasize clearly defining the legal status of digital assets, delineating regulatory jurisdiction, and modernizing oversight to support responsible innovation. 

They also call for narrowly tailored anti-money laundering measures and a commitment from regulators to embrace technological development.

Senator Lummis noted in a hearing after the guidelines were announced that they are designed to make discussions on digital asset market structure more productive than those around stablecoins. 

“America desperately needs digital asset legislation that promotes responsible innovation and protects consumers,” she said in a statement. “While the European Union and Singapore have established clear regulations, the U.S. continues to sit on the sidelines.”

The release of these principles came ahead of a subcommittee hearing the same day featuring testimony from Coinbase, Multicoin Capital, and others on bipartisan legislative proposals.



It also follows recent momentum behind the Digital Asset Market Clarity Act, which would remove the SEC’s oversight of the crypto industry in favor of the Commodity Futures Trading Commission. That passed two House committees on June 11 and is now expected to face a full vote.

Meanwhile, crypto-related policymaking continues across the federal government. On Monday, U.S. Federal Housing Finance Agency director Bill Pulte said the agency would examine how crypto holdings might factor into mortgage applications.

Pulte, a crypto supporter since 2019 and recent Trump appointee, disclosed significant digital asset holdings earlier this year.

The promotion of crypto in government by those with significant crypto holdings, however, has raised alarms, particularly when it comes to the president himself. 

On Monday, Sen. Adam Schiff (D-Calif.) introduced the COIN Act, which would bar the president and immediate family members from profiting from digital assets while in office. 

Schiff’s bill comes days after bipartisan passage of the Trump-backed GENIUS Act, which critics argue could enable such profits under a regulatory veneer. In any case, Schiff voted in favor of the GENIUS Act. 

Edited by Sebastian Sinclair

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Iran Conflict Dumps Crypto, North Korean Hackers Target Crypto Wallets, EU MiCA Rules Make Investors Double Down on Best Wallet, and More…

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Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Stay Ahead with Our Immediate Analysis of Today’s Crypto Presales

Check out our Live Update Coverage on the Best Crypto Presales for June 23, 2025!

With so many institutions and countries adopting crypto, the presale market is also heating up. The biggest difference is that it offers more diversified, unique early investment chances with potentially much bigger payoffs than regular stablecoins or BTC.

We provide real-time news on new presale projects, whale buys, funding and development milestones, as well as vital alerts. Everything you need to navigate potential opportunities and risks.

This page is updated frequently throughout the day, as we get the latest insider scoops on the hottest presales, so keep refreshing!

Disclaimer: Crypto investments are high-risk and you could lose your entire capital. Our content is informational only, and it does not constitute financial advice. We may earn affiliate commissions at no extra cost to you.

Get Solaxy to Weather the Storm After Trump’s Airstrikes on Iran

June 23, 2025 • 07:28 UTC

The crypto market quaked after Trump’s attack on several Iranian nuclear sites. This sent crypto into a dump dive, with over $595M bullish bets liquidated within 24 hours. Ethereum, XRP, and even Bitcoin slid down.

However, despite the market chaos, traders are looking toward altcoins and crypto presales that might soar this year.

One such project has proven their worth time and time again: Solaxy ($SOLX.

As the first-ever Solana Layer-2, $SOLX aims to enhance the blockchain with better speed and zero failed transactions. By combining Ethereum’s liquidity with Solana’s speed, Solaxy is sure to soar. The presale has raised over $56M, and 1 $SOLX is now $0.001766.

The project might be the best play for investors looking to weather the current storm and make smart investments. Read more.

Read more about Solaxy on the official site.

Best Wallet Token to Soar After Coinbase Secures EU-Wide MiCA License

June 23, 2025 • 07:28 UTC

The crypto industry is at a crossroads as Coinbase’s MiCA license is waiting for approval in Europe. That would make it one of the first crypto companies aligning itself fully with the new regulatory framework.

Coinbase would be able to operate seamlessly across all 27 EU states under one license (an incredible leap forward for crypto accessibility in Europe).

With more regulatory obstacles left in the dust, investors are becoming increasingly bullish. This makes presale tokens with real utility shine through the crowd.

One such coin is Best Wallet Token ($BEST). As the native token of a top non-custodial wallet (Best Wallet), $BEST supercharges the privacy-focused ecosystem. Investors get lower fees, better staking rewards, and early access to presales.

Best Wallet and its token are perfectly positioned to benefit from Europe’s crypto expansion as more investors are coming in. Read more.

Read more about Best Wallet Token on the official site.

North Korean Hackers Keep Targeting the Crypto Industry

June 23, 2025 • 07:28 UTC

The North Korean hacker group known as Famous Chollima is targeting crypto job applicants on a wide scale. They’re using a job application process to deceive those active in the crypto industry with a Python-based malware dubbed PylangGhost.

Victims, mostly India-based at the time of writing, are deceived into downloading the malware on their devices under the guise of “video drivers” being required for the process. The malware is delivered via a zip file with an innocuous name, such as nvidia.py. Once installed, the script harvests sensitive data such as browser sessions, wallet data (MetaMask, Phantom), and login credentials.

Windows and Mac systems are affected, but Linux systems appear to be safe. As attacks on crypto owners increase, crypto presales and wallets, such as Best Wallet, are stepping up their security and verification process, introducing MFA methods that make it difficult to extract funds from victims even if their credentials are leaked.

Read more about Best Wallet on the official site.

$BTC Season Confirmed, $112K Next as Smart Money Seek Double Exposure with $BTCBULL

June 23, 2025 • 07:28 UTC

$BTC breaks past $105K as a massive green candle forms on the three-hour chart. Community sentiment is 82% bullish, while the ASI hits 22 – clear Bitcoin Season.

Now, watch for immediate resistance at $112K where $BTC will retest its record high, with an extended target at $120K if momentum holds.

As meme coin 24-hour trading volume is down 24%, smart money seeks greater $BTC exposure. This is precisely why BTC Bull Token ($BTCBULL) presale raised $7.6M so fast – it gives direct $BTC exposure through airdrops scheduled for $BTC’s $150K and $200K milestones.

The presale won’t last forever, but $BTC’s bull run is just getting started.

Read more about BTC Bull Token on the official site.

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Meta tells the Oversight Board it isn't removing the word 'transgenderism' from its hate speech rules
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Meta tells the Oversight Board it isn’t removing the word ‘transgenderism’ from its hate speech rules

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If anyone was holding out hope that the Oversight Board would provide some kind of check on Meta’s rewritten hate speech policy, Meta has just made it clear exactly where it stands. The company published its formal response to the board’s criticism, and has declined to commit to any substantive steps to change its rules.

The Oversight Board previously criticized Meta’s January policy changes as “hastily announced” and wrote that it was “concerned” about the company’s decision to use the term “transgenderism” in its rewritten community standards. The company’s policy, announced by Mark Zuckerberg in January shortly before President Donald Trump took office, now permits people to claim that LGBTQ people are mentally ill.

“We do allow allegations of mental illness or abnormality when based on gender or sexual orientation, given political and religious discourse about transgenderism and homosexuality and common non-serious usage of words such as ‘weird,'” the policy now states. In a decision related to two videos depicting public harassment of transgender women, the Oversight Board had sided with Meta on its decision to leave the videos up. But the board recommended that Meta remove the word “transgenderism” from its policy. “For its rules to have legitimacy, Meta must seek to frame its content policies neutrally,” the board said.

The word has a long association with discrimination and dehumanization, human rights groups have said. Human Rights Campaign noted that the term is “socially and scientifically invalid” and “often wielded by anti-trans activists to delegitimize transgender people.” GLAAD has likewise noted that “framing a person’s transgender identity as a ‘concept’ or ‘ideology’ reduces a core identity to an opinion that can be debated, and therefore justifies dehumanization, discrimination, and real-world violence against transgender, nonbinary, and gender nonconforming people.”

In its formal response, Meta officials said they were still “assessing feasibility” of removing the word from its policies. The company said it would “consider ways to update the terminology” but added that “achieving clarity and transparency in our public explanations may sometimes require including language considered offensive to some.”

Meta also declined to commit to the board’s three other recommendations in the case. The board had recommended that Meta “identify how the policy and enforcement updates may adversely impact the rights of LGBTQIA+ people, including minors, especially where these populations are at heightened risk,” take steps to mitigate those risks and issue regular reports to the board and the public about its work.

It had also recommended that Meta allow users to designate other individuals who are able to report bullying and harassment on their behalf, and that the company make improvements to reduce errors when people report bullying and harassment. Meta said it was “assessing feasibility” of these suggestions.

Meta’s response raises uncomfortable questions about just how much influence the ostensibly independent Oversight Board can have. Zuckerberg said that Meta created the Oversight Board so that it wouldn’t have to make consequential policy decisions on its own. Previously, the social network has asked the board for help in major decisions, like Donald Trump’s suspension and its rules for celebrities and politicians. But Zuckerberg’s decision to roll back hate speech protections and ditch third-party fact checking took the board by surprise.

Meta has always been free to ignore the Oversight Board’s recommendations, but it has allowed it to influence some of its more controversial policies. That seems like it could be changing, however. Zuckerberg’s decision to roll back hate speech protections and ditch third-party fact checking took the board by surprise. And the company now seems to have little interest in engaging with the board’s criticism of those changes.



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Thailand’s SEC Consults on Rules Allowing Exchanges to Offer Utility Tokens, Monitor Issuers

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Thailand’s Securities and Exchange Commission (SEC) opened a consultation on rules for exchanges to issue their own utility tokens.

The regulator is proposing allowing crypto exchanges, or a person related to the exchange, to issue utility tokens for blockchain transactions, it said on its website. Exchanges will have to disclose the names of anyone related to token issuers so the SEC can monitor for insider trading.

The consultation comes as the regulator looks to strike a balance between allowing innovation while preventing illicit activity. In May it said citizens will be blocked from accessing crypto exchanges including Bybit and OKX from June 28, citing violations of the Digital Asset Business Act.

In March it added Tether’s USDT stablecoin and Circle’s (CRCL) USDC to its list of approved tokens that can be traded on exchanges. Previously, only bitcoin

, ether , XRP , stellar and some tokens used in the Bank of Thailand’s settlement system were approved by the SEC.

Thailands’ SEC will be gathering opinions on its rules up until July 21, it said.



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Asmongold calls out Twitch for “anti-competitive” multistreaming rules

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Kick streamer Asmongold put Twitch on blast for its rules on multistreaming that he believes are biased towards the purple platform.

In June, Asmongold and Tectone made the leap over to Kick as part of a new commitment to multistreaming and immediately revealed how much more money they were making as a result.

With so much attention on multistreaming, many creators followed suit including FaZe, OTK and numerous other streamers, but that suddenly shed light on Twitch’s policies towards simulcasting.

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Of note, a streamer by the name of ‘Nutty’ was banned for violating those rules, which prevent creators from showing other websites’ chats, providing links to off-platform streams or merging features.

On June 18, Asmongold reviewed those guidelines during a broadcast and was absolutely baffled at how restrictive they can be.

Asmongold accuses Twitch of trying to “monopolize” multistreaming

“Twitch, I’m not even kidding you, puts it as a rule that if you simulcast, you have to read Twitch chat,” he said. “Oh my God.”

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He continued on, reading the guidelines, and grew flustered at Twitch’s wording, adding that they should just state they don’t want viewers going to competing websites.

Asmongold calls out Twitch for their archaic TOS surrounding simulcasting

Says they enforce these rules meticulously because they’re losing market share

“Twitch puts it as a rule that if you simulcast you have to read Twitch chat..Twitch wants to give themselves an edge..over… pic.twitter.com/rzxmZfolXL

— yeet (@Awk20000) June 19, 2025

“None of this makes sense…The reason this exists is because Twitch wants to give themselves an edge in multistreaming and they know because they have the biggest platform, they can afford to do that,” he explained.

“This is total anti-competitive behavior. There is no benefit for any streamer. There is no benefit for any user. This is purely something Twitch can do so they can monopolize their platform.”

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Asmongold further labeled these policies “detrimental” to the user experience but believes that Twitch won’t be able to get away with this forever as competition in the streaming space from Kick and YouTube intensifies.

In fact, according to StreamsCharts, Kick viewership grew by 29% in May alone, something the site’s co-founder, Bijan Tehrani, used to put Twitch on blast.

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“Twitch banning multistreamers proves only one thing: the party’s better elsewhere and they’re terrified you’ll find out,” he said.

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Twitch banning multistreamers proves only one thing: the party’s better elsewhere and they’re terrified you’ll find out. https://t.co/Q4Ep7umAd6

— Bijan Tehrani (@BijanTehrani) June 19, 2025

Tehrani further echoed some of Asmongold’s points, adding: “Twitch is afraid of losing their monopoly. Instead of innovating or giving creators more they are going to do what they’ve always done which is engage in pathetic anti-competitive behavior.”

Only time will tell if Twitch decides to change its multistreaming rules, especially now that more and more creators are giving it a shot.

Even Valkyrae, in a request ahead of its time, urged Twitch to modify its guidelines back in April, as she risked a ban for showing YouTube chat while streaming on the Amazon-owned platform.

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