Launchy Regulatory Roundup #41 - GENIUS and CLARITY Act Move Forward

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Welcome to our 41st edition of the regulatory roundup. If you know anybody who would benefit from this content, please help us spread the word!

In Today's Edition:

• Headline: GENIUS and CLARITY Act Move Forward 💨 

• Global Legal Roundup

• Case Study: How to Legally Stake Crypto in 2025 🔎 

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HEADLINE

GENIUS and CLARITY Act Move Forward

State of play: Two major crypto-related bills have cleared key votes in the US Congress, signaling momentum toward federal regulation of digital assets.

GENIUS Act (Stablecoin Regulation):

• The Senate voted 68-30 to advance the GENIUS Act, which aims to integrate stablecoins into the mainstream US financial system.

• The bill now moves to full debate.

• However, it faces pushback from Democrats, who cite weak consumer safeguards and concerns over Trump’s ties to crypto businesses.

CLARITY Act (Crypto Market Structure):

• The House Financial Services and Agriculture Committees both approved the CLARITY Act.

• CLARITY Act defines the regulatory roles of the SEC and CFTC, sets new rules for crypto exchanges and brokers, and protects self-custody rights.

• An amendment also clarified that non-controlling blockchain developers won’t be classified as money transmitters.

• Still, Democrats proposed changes to prevent conflicts of interest linked to Trump and ban potential future bailouts of crypto firms.

What’s Next: The GENIUS Act heads to full Senate debate and vote. If it passes, it moves to the House for further consideration.

• The CLARITY Act awaits a full House floor vote. If approved, it would still need to be reconciled with any Senate version or counterpart.

Why it Matters: The GENIUS Act could legitimize stablecoins in the US but raises concerns over political influence and national security.

• The CLARITY Act provides much-needed regulatory certainty for developers, exchanges, and users, helping the US remain competitive in crypto innovation.

Our Take: For meaningful crypto regulation to succeed, bipartisan trust and safeguards, not political self-interest, must lead the way.

GLOBAL LEGAL ROUNDUP

America:

• 🇺🇲 US Senate to vote on amended stablecoin bill on June 17.

• 🇺🇲 Connecticut lawmakers vote to prohibit crypto use in government.

• 🇺🇲 FTX users fight to unlock $2.2B in still-disputed bankruptcy claims.

• 🇺🇲 US senators question Meta’s stablecoin plans amid GENIUS Act debate.

• 🇺🇲 SEC, Ripple file motion to release $125M in escrow as case winds down.

• 🇺🇲 Former Blockchain.com exec joins SEC as director of trading and market.

• 🇧🇷 Brazil ends crypto tax exemption, imposes 17.5% flat rate on gains.

Europe:

• 🇺🇦 Crypto asset reserve bill lands in Ukraine’s parliament

APAC:

• 🇻🇳 Vietnam legalizes crypto under new digital technology law.

• 🇸🇬 Ant International eyes stablecoin licenses in Singapore, Hong Kong.

• 🇦🇺 Australia unmasks $123M crypto laundering ring behind security firm.

CASE STUDY

How to Legally Stake Crypto in 2025

Credits to Cointelegraph for the original article

State of play: The SEC’s new 2025 guidance officially clears solo staking, delegated staking, and custodial staking, as long as they directly support a proof-of-stake (PoS) network’s consensus.

• These activities are now considered technical services, not securities offerings, removing them from the scope of the Howey test.

• This update gives the green light to validators, node operators, and staking service providers, while offering clarity and protection for stakers.

• However, yield farming, guaranteed-return products, and staking that resembles lending or investment contracts are still restricted.

Our Take: By drawing a clear line between protocol staking and speculative schemes, the SEC’s framework supports wider PoS adoption while ensuring compliance and transparency across the board.

Take a peek at our referral reward at the bottom of this issue. Share this newsletter and receive our comprehensive database of crypto regulations around the world👇

NOTEWORTHY READS & MEME

• Hester Peirce’s speech on DeFi and the American Spirit.

• Coin Center’s expert opinion on Tornado Cash case in NL.

• Miles Jennings’ read on the end of the foundation era in crypto.

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Disclaimer: All the information presented in this publication and its affiliates is strictly for educational purposes only. It should not be construed or taken as financial, legal, investment, or any other form of advice.