Launchy Regulatory Roundup #50 - CFTC Opens Next Phase of Crypto Sprint
Code Writing Isn’t a Crime

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In Today's Edition:
Headline: CFTC Opens Next Phase of Crypto Sprint 💨
Global Legal Roundup
Case Study: Code Writing Isn’t a Crime 🔎
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HEADLINE
CFTC Opens Next Phase of Crypto Sprint

State of play: The CFTC has launched the next phase of its "Crypto Sprint" initiative, part of Trump’s crypto roadmap, to implement recommendations from the President’s Working Group on Digital Asset Markets.
Acting Chair Caroline Pham said the agency is seeking public feedback by Oct. 20, 2025.
It seeks to expands beyond spot crypto trading to issues like registration, custody, and oversight.
The move follows the SEC’s “Project Crypto,” with Paul Atkins stressing that few tokens are securities while aiming to modernize rules for on-chain markets.
What’s Next: The CFTC will collect comments through Oct. 20 and then outline rules on custody, registration, and trading oversight, likely coordinating closely with the SEC’s “Project Crypto.”
Why it Matters: This signals the US moving from pilot programs to full federal frameworks, giving crypto markets clearer guardrails and legitimacy.
Our Take: Whether this becomes real clarity or just more red tape will depend on how bold the agency is willing to be.

GLOBAL LEGAL ROUNDUP
America:
🇺🇲 Judge unfreezes $57M linked to Libra token scandal.
🇺🇲 SEC Chair says ‘very few’ crypto tokens are securities.
🇺🇲 US OCC drops consent order against Anchorage Digital.
🇺🇲 Sen. Cynthia Lummis aims for year-end deadline for crypto bill.
🇺🇲 IRS crypto boss Trish Turner resigns just 3 months into the role.
🇺🇲 Anti-CBDC provision added to US House's must-pass defense bill.
🇺🇲 Tyler &Cameron Winklevoss donate 188 Bitcoins to pro-Trump PAC.
🇺🇲 US court grants brief stay in Coinbase lawsuit involving biometric data.
🇺🇲 Illinois governor signs new crypto laws targeting exchanges and ATMs.
🇺🇲 Pennsylvania lawmaker proposes ban on public officials trading crypto.
🇺🇲 US court signs off on $13M BlockFi settlement after objection withdrawn.
🇺🇲 Crypto groups push back on banking industry’s call to amend GENIUS law.
Europe:
APAC:
🇨🇳 China weighs allowing yuan-backed stablecoins.
🇰🇷 South Korea orders exchanges to halt crypto lending services.
🇰🇷 South Korea’s financial regulator to submit stablecoin bill in October.
🇯🇵 Japan eyes 20% flat tax for crypto trades, path to ETF offering.
🇯🇵 Japan to approve its first yen-denominated stablecoin as early as this fall.
🇹🇼 Taiwan prosecutors charge 14 suspects in $41M BitShine crypto fraud.

CASE STUDY
Code Writing Isn’t a Crime

Acting Assistant Attorney General Matthew Galeotti
Credits to The Block for the original article
State of play: The US Justice Department signaled a major policy shift as Acting Assistant Attorney General Matthew Galeotti said that writing code without ill intent is not a crime.
His comments follow the Tornado Cash verdict against Roman Storm, sparking calls for the case to be dropped.
Galeotti clarified that decentralized software with no third-party custody will not face unlicensed money transmitter charges.
Meanwhile he is also stressing the DOJ will continue to prosecute fraud, money laundering, and sanctions evasion.
Our Take: This is a clear attempt to draw a line between innovation and crime. The DOJ is signaling it won’t criminalize developers just for publishing code, but the Tornado Cash verdict shows the gap between policy shifts and courtroom outcomes.
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