Flash News

TREE NEWS update: A Michigan court has ordered Kalshi to continue blocking sports prediction markets, converting a temporary restraining order from June into a preliminary injunction. Violations would incur a fine of $500,000 per day. The ruling keeps the prediction market platform from offering sports event contracts in the state pending further legal proceedings.

TREE NEWS update: A two-day symposium on antitrust enforcement to protect businesses was held in Dalian, Liaoning province, on September 2-3. Officials reviewed progress and set next steps, emphasizing the fight against ‘involutionary’ competition to build a unified national market and ensure fair competition.

TREE NEWS update: The CFTC has filed to dismiss CME’s lawsuit challenging its crypto perpetual futures rules, arguing CME lacks standing because it is free to list perp futures as a designated contract market. The CFTC called the suit ‘much ado about nothing.’

TREE NEWS update: Thailand’s Securities and Exchange Commission has finalized its cryptocurrency “travel rule,” requiring digital asset operators to identify senders and receivers of every transaction from February 27, 2027. Operators must implement transfer risk policies, collect customer and counterparty identity data, and retain records for at least five years. Non-compliant transfers will be prohibited. The rule, aimed at combating money laundering and terrorist financing, aligns Thai standards with FATF recommendations, including verifying user control over self-custody wallet funds.

TREE NEWS update: SEC Chair Paul Atkins said in a Fox Business interview that the CLARITY Act will be voted on in the Senate on September 15, expecting passage and presidential signature, making the US the ‘global crypto capital.’ He noted regulators are advancing rules to modernize for blockchain and crypto assets. Despite the vote delay, SEC and CFTC continue crypto policy work, with the SEC submitting a crypto custody framework proposal to the White House last week.

TREE NEWS update: Brazil’s Congress passed a critical minerals bill granting the government greater power to review mining transactions. Brazil holds the world’s second-largest rare earth reserves after China, along with other key minerals for smartphones, EVs, and military drones. President Lula, who pushed the legislation as part of his sovereignty-focused agenda, argues Brazil should process more minerals domestically to retain value.

TREE NEWS update: A Michigan court has issued a preliminary injunction against Kalshi, ordering the prediction market to continue blocking state residents from accessing sports event contracts. The injunction, effective September 3, converts a temporary restraining order from June into a formal ruling, with violations subject to a $500,000 daily fine.

TREE NEWS update: The FBI seized approximately $560,000 in cryptocurrency, along with domains and servers, allegedly used by Hamas’s military wing to collect donations and recruit supporters. The action targeted digital assets and infrastructure tied to the group’s fundraising efforts.

TREE NEWS update: A US federal judge has blocked the Trump administration’s latest executive order restricting birthright citizenship, dealing a setback to the policy. The ruling halts implementation of the measure, which sought to limit automatic citizenship for children born in the US to non-citizen parents. The judge’s decision marks a legal challenge to the executive action.

TREE NEWS update: Federal authorities and private-sector partners, including CrowdStrike, have disrupted malware that redirected about $150,000 in cryptocurrency over the past eight years. The operation targeted the malware used in crypto thefts, marking a coordinated effort to combat cybercrime in the digital asset space.

TREE NEWS update: Coinbase has launched regulated crypto derivatives for eligible Canadian traders, offering perpetual and dated futures with up to 10x leverage. The move expands the exchange’s presence in Canada as major US trading platforms increasingly enter the market.

TREE NEWS update: New Jersey Attorney General Jennifer Davenport and acting gaming enforcement chief Mary Jo Flaherty filed a petition asking the U.S. Supreme Court to review their enforcement action against prediction market Kalshi over sports event contracts. The petition cites civil cases from at least 20 state gaming regulators and argues Kalshi may still violate state law despite CFTC compliance. It challenges an April 2-1 ruling by the Third Circuit. Kalshi spokesperson Dani Lever said the company disagrees with the appeal and maintains confidence in the lower court decision.

TREE NEWS update: New Jersey’s Attorney General and gaming regulators filed a petition for a writ of certiorari to the US Supreme Court, seeking to block Kalshi from offering sporting event contracts to state residents. The move escalates the state’s legal challenge against the prediction market platform.

TREE NEWS update: New Jersey has petitioned the U.S. Supreme Court to decide whether sports betting on prediction markets falls under federal or state jurisdiction. The state seeks to resolve the regulatory ambiguity surrounding these platforms, which have grown rapidly. The Court’s decision could set a precedent for how prediction markets are overseen nationwide.

TREE NEWS update: The US Treasury Department has issued multiple new general licenses related to Venezuela, the Trump administration announced. The licenses permit certain activities involving Venezuelan coal, gold, and mining sectors. This move eases restrictions on some transactions with the sanctioned country.

TREE NEWS update: Crypto exchanges, asset managers, market makers and consumer groups have submitted comments to the SEC on its proposed regulatory framework for new ETFs, covering crypto assets, private assets, event contracts and leveraged strategies. The Crypto Council for Innovation urged extending some ETF relief to non-ETF exchange-traded products, while a16z argued against treating all new ETFs alike, and Grayscale opposed new portfolio limits for mature digital asset products. Chainalysis suggested using public blockchains for real-time monitoring, Kalshi backed event contracts in registered funds, and Public Citizen opposed retail access to them.

TREE NEWS update: The Crypto Council for Innovation, Grayscale, and a16z urged the SEC to adopt tailored rules for novel ETFs, asking the regulator to preserve existing fund classifications and streamline reviews for new exchange-traded products. The groups argue that current frameworks may not accommodate innovative structures, calling for a more flexible approach.