US Senator Cynthia Lummis said at the DC Blockchain Summit on Wednesday that Congress is "so close" to moving a digital asset market structure bill forward after unexpected hurdles in 2025. She said the biggest sticking point has been disagreement over stablecoin yield versus rewards, while adding that the DeFi provision had largely been resolved.

The US Securities and Exchange Commission said in a Tuesday interpretive notice it will outline how "non-security crypto assets" fit under federal securities laws as Congress considers market-structure legislation. The guidance sets a token taxonomy and discusses when assets may be treated as investment contracts, including airdrops, protocol mining and staking, and wrapping. SEC Chair Paul Atkins said the approach recognizes that most crypto assets are not securities, while tokenized traditional securities remain subject to securities laws.

Arizona Attorney General Kris Mayes said her office filed gambling and related criminal charges against the companies behind prediction markets platform Kalshi on Tuesday. The notice alleges Kalshi operated an illegal gambling business in Arizona without a license and offered event contracts tied to sports and state and federal elections. Kalshi called the case "paper-thin" and argued it falls under federal jurisdiction rather than state-by-state oversight.

The US Commodity Futures Trading Commission said Tuesday its Market Participants Division issued a no-action letter to crypto wallet provider Phantom Technologies. The position may let Phantom operate as a non-custodial interface linking users to a registered exchange in certain cases without registering as a broker.