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US House to Vote on Two Landmark Crypto Bills Next Week

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Next week, there will be significant legislative activity as the US House of Representatives prepares to vote on two key bills, H.R. 5403 and H.R. 4451. These bills are poised to have a substantial impact on the regulation of digital currencies and securities within the United States, potentially reshaping the financial landscape.

House to Vote on Crypto Regulation Bills

The first of the bills, H.R. 5403, known as the CBDC Anti-Surveillance State Act, proposes stringent limitations on the Federal Reserve’s involvement with digital currencies. Specifically, it would prevent the Federal Reserve from issuing Central Bank Digital Currencies (CBDCs) directly to individuals and from using CBDCs to execute monetary policy. Moreover, the act seeks to stop the Department of the Treasury from directing the issuance of a CBDC, aiming to protect citizens from potential financial surveillance and control.

 

This bill has extensive implications as it reinforces the separation between government institutions and direct consumer financial products. By restricting these capabilities, the bill advocates for a more privatized approach to digital currency, away from federal oversight and control.

 

Concurrently, H.R. 4451, titled the Securities Clarity Act, intends to refine the definition of what constitutes a security. The bill clearly exempts investment contract assets, which are sold pursuant to an investment contract and are not inherently securities, from being treated as such for regulatory purposes. This classification directly affects how cryptocurrencies are viewed and managed under federal law, potentially easing the regulatory burden on crypto companies.

 

Also Read: Michael Saylor Shares Bullish Bitcoin (BTC) Tip As Price Crosses $67K

 

This bill’s clarity is expected to encourage innovation and investment within the crypto space by offering a clearer regulatory framework. It aims to remove significant uncertainties that currently cloud the classification and treatment of digital assets.

Bipartisan Support for Crypto Regulation Grows

These legislative efforts follow the US Senate’s recent decision to repeal Staff Accounting Bulletin 121 (SAB 121), which garnered bipartisan support and indicates a growing legislative focus on digital currency and asset regulation. In addition, influential groups such as the Crypto Council Innovation (CCI) and prominent firms like Coinbase and Gemini have expressed their support for another related bill, the Financial Innovation and Technology for the 21st Century Act (FIT 21).

 

FIT 21 proposes a comprehensive regulatory framework for digital assets managed jointly by the Commodity Futures Trading Commission (CFTC) and the SEC. This act focuses on customer protection measures such as fund segregation, risk disclosures, and conflict of interest regulations, enhancing the overall stability and transparency of the digital asset market.

Also Read: XRPL Startup XPMarket Initiates Token Swap After Distribution Error

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Maxwell is a crypto-economic analyst and Blockchain enthusiast, passionate about helping people understand the potential of decentralized technology. I write extensively on topics such as blockchain, cryptocurrency, tokens, and more for many publications. My goal is to spread knowledge about this revolutionary technology and its implications for economic freedom and social good.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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US SEC Acknowledges Fidelity’s Filing for Solana ETF

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The U.S. Securities and Exchange Commission (SEC) has formally acknowledged the filing for Fidelity’s spot Solana (SOL) Exchange-Traded Fund (ETF).

This marks a key development in the financial industry, as Fidelity seeks to list its Solana ETF on the Cboe BZX Exchange. The acknowledgment comes after Fidelity submitted a proposed rule change, paving the way for the potential approval of the product.

Fidelity’s Spot Solana ETF Proposal

The SEC’s acknowledgment follows Fidelity’s filing to list and trade shares of the Fidelity Solana Fund under the Cboe BZX Exchange. The proposed rule change, initially submitted on March 25, was later amended on April 1, 2025, to clarify certain points and add additional details.

The amended proposal aims to list the Solana ETF under BZX Rule, which pertains to commodity-based trust shares. According to the Cboe BZX Exchange, Fidelity plans to register the shares with the SEC through a registration statement on Form S-1.

Fidelity’s experience with crypto ETFs, having launched the Fidelity Wise Origin Bitcoin Fund (FBTC) and the Fidelity Ethereum Fund (FETH), has prepared it for this new initiative. FBTC has drawn substantial interest, accumulating nearly $17 billion in assets, while FETH currently manages around $975 million.

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Kelvin is a distinguished writer with expertise in crypto and finance, holding a Bachelor’s degree in Actuarial Science. Known for his incisive analysis and insightful content, he possesses a strong command of English and excels in conducting thorough research and delivering timely cryptocurrency market updates.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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US Senate Banking Committee Approves Paul Atkins Nomination For SEC Chair Role

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The U.S. Senate Banking Committee has voted to approve Paul Atkins’ nomination for the role of Chair of the Securities and Exchange Commission (SEC). The vote, which took place on Thursday, passed with a narrow margin of 13-11, along party lines.

Paul Atkins, nominated by President Donald Trump, now moves one step closer to taking over the top regulatory position at the US SEC.

Senate Banking Committee Approves Paul Atkins Nomination

Paul Atkins’ nomination for SEC Chair has received approval despite sharp opposition from Democratic members of the Senate Banking Committee. The vote was entirely split, with Republicans supporting Atkins and all Democrats opposing the decision.

This partisan divide highlights the contentious nature of Atkins’ confirmation, which had been under scrutiny for several reasons.

The committee’s approval now clears the path for Atkins to proceed to the full Senate for a final confirmation vote. Given the Republican-controlled Senate, it is widely expected that Atkins will secure the necessary votes to take over the SEC leadership. With Republicans holding a 53-47 majority in the Senate, the confirmation process is anticipated to move forward swiftly.

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Kelvin Munene Murithi

Kelvin is a distinguished writer with expertise in crypto and finance, holding a Bachelor’s degree in Actuarial Science. Known for his incisive analysis and insightful content, he possesses a strong command of English and excels in conducting thorough research and delivering timely cryptocurrency market updates.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Kraken Obtains Restricted Dealer Registration in Canada

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Cryptocurrency exchange Kraken has obtained a Restricted Dealer registration in Canada. The registration comes after completing a pre-registration undertaking (PRU) process with Canadian authorities.

The exchange has also announced the appointment of Cynthia Del Pozo as its new General Manager for North America. Del Pozo will oversee Kraken’s growth initiatives in Canada.

Kraken Completes PRU Process In Canada

Kraken’s Restricted Dealer registration marks the completion of a thorough pre-registration undertaking (PRU) process with Canadian regulators. The registration places Kraken under the supervision of the Ontario Securities Commission (OSC). This oversight ensures users have access to secure crypto products within a properly regulated local ecosystem.

According to the Canadian Securities Administrators (CSA), the Restricted Dealer registration is one of eight firm registration types in Canada. This particular classification is used for firms that “do not quite fit under any other category.” It also comes with specific requirements and conditions set by securities regulators.

Kraken’s regulatory achievement comes during a period of change in the Canadian crypto sector. Just months earlier, competitor Gemini exchange announced its departure from the Canadian exchange market by the end of 2024. This was a move that surprised many and raised questions about cryptocurrency regulation clarity in the country.

Kraken Introduces New Canadian GM

Del Pozo has joined Kraken to lead its Canadian operations as the new General Manager for North America. She has nearly 15 years of experience in corporate development, operations, and fintech consulting. Del Pozo will help to guide Kraken’s expansion across Canada during this important phase of crypto’s development in the region.

“Canada is at a turning point for crypto adoption, with a growing number of investors and institutions recognizing digital assets as a vital part of the financial future. I’m thrilled to join Kraken’s mission at this critical moment, and to lead our expansion efforts, ensuring we continue to serve our clients long-term with innovative and compliant products,” said Del Pozo.

In her role, Del Pozo will focus on strengthening Kraken’s regulatory relationships and also scaling the company’s presence throughout North America.

Del Pozo also commented on the registration achievement: “This Restricted Dealer registration is testament to the high bar Kraken has always set for consumer protection, client service, and robust security. We’re excited to continue expanding our world-class investment platform and to deliver innovative products that provide real-world utility to Canadians.”

The Exchange’s Continued Growth In Canada

Over the past two years, the cryptocurrency exchange has shown steady expansion in Canada while working through the PRU process with regulators. During this period, the exchange has doubled its team size and monthly active users.

According to the official blog post figures, the firm now has more than $2 billion CAD in total client assets under custody. Kraken has also increased support for some of the most popular cryptocurrencies. It provides several CAD spot trading pairs that enable Canadians to trade crypto without paying expensive foreign exchange fees.

According to Innovative Research Group’s 2024 Investor Survey, 30% of Canadian investors currently own or have owned cryptocurrencies. Likewise, a KPMG Canada survey discovered that 30% of Canadian institutional investors now have exposure to cryptocurrencies, which means widespread adoption across investor types.

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Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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