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Nate Geraci reports that, following the recent failure of the Clarity Act to advance less than three weeks ago, regulators have issued notable updates. The SEC has granted an innovation exemption to facilitate trading of tokenized securities. In addition, the CFTC has provided a no action position for developers of passive software products such as Phantom and Metamask, and released updates to its FAQs.
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Geraci previously reported the SEC's approval of the first 3x leveraged bitcoin and ether ETFs, describing it as a significant development for crypto-linked investment products here. In an earlier update, he noted that DraftKings had opened betting markets for bitcoin price and U.S. CPI results, expanding the range of non-traditional financial products available to users here. These prior moves add context to recent regulatory actions affecting trading platforms and digital assets.