SEC

Paxos has achieved a major regulatory milestone by becoming the first "blockchain-native" firm registered with the SEC as a clearing agency. This approval is set to accelerate the integration of blockchain technology into traditional U.S. securities settlement and financial markets.

The SEC is poised to greenlight an Innovation Exemption framework, allowing traditional securities like Apple stock to be tokenized and traded on public blockchains. This move is highly significant as it legitimizes DeFi infrastructure and permanently integrates the established US equity market with blockchain technology.

Trump Media & Technology Group has pulled its ETF applications for Bitcoin, pivoting its strategy to utilize the '40 Act structure for greater flexibility. This move comes amid intense competition in the booming U.S. spot Bitcoin ETF market, highlighted by the launch of Morgan Stanley's low-cost offering.