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Recent federal litigation by Polymarket against Massachusetts may determine whether the regulation of prediction markets in the United States falls under federal or state jurisdiction. Polymarket argues in the lawsuit that Congress has granted exclusive regulatory authority over "event contracts" (prediction markets for sports, politics, etc.) to the Commodity Futures Trading Commission (CFTC), and therefore state governments do not have the power to independently prohibit or regulate these platforms.The lawsuit aims to prevent Massachusetts Attorney General Andrea Campbell from potential enforcement actions, following a preliminary injunction issued by the state court against Polymarket's competitor Kalshi, which determined that its sports-related contracts constituted unlicensed sports betting. The regulatory conflict between the federal government and the states is intensifying, with prediction market platforms claiming they are regulated as derivatives markets by the CFTC and can operate nationwide, while states like Massachusetts and Nevada view them as a "sports betting loophole" that circumvents state gambling laws, leading to multiple lawsuits and injunctions.The outcome of Polymarket's appeal could reshape the regulatory framework for prediction markets in the United States, determining whether these platforms can operate free from state gambling law restrictions or must comply with varying rules across states, and it may ultimately be appealed to the U.S. Supreme Court.

SEC Chairman Paul Atkins posted on X platform that this week is significant for cryptocurrency and fully supports Congress in clarifying the jurisdictional division between the SEC and the Commodity Futures Trading Commission.The most important thing to do for investors right now is to move the crypto asset market out of the regulatory gray area. He looks forward to President Trump signing a bipartisan-supported market structure bill in the coming months, based on legal provisions recognized by both parties, to promote market innovation while protecting investors' rights.

SEC Chairman Paul Atkins posted on the X platform that this week is significant for cryptocurrency and fully supports Congress in clarifying the jurisdictional division between the SEC and the Commodity Futures Trading Commission.The most important thing to do for investors right now is to move the crypto asset market out of the regulatory gray area. He looks forward to President Trump signing a bipartisan-supported market structure bill in the coming months, based on legal provisions recognized by both parties, to promote market innovation while protecting investors' rights.

The Crypto-Asset Reporting Framework (CARF), developed under the leadership of the Organisation for Economic Co-operation and Development (OECD), officially came into effect on January 1, 2026, covering the first batch of 48 countries and regions.The framework requires Crypto Asset Service Providers (CASPs) to disclose user transaction information to tax authorities and submit annual reporting, covering activities such as transactions, exchanges, and asset transfers, to promote global tax transparency and enhance cross-border data exchange. CARF aims to fill the regulatory gap in the digital asset sector within the existing Common Reporting Standard (CRS) and plans to initiate regular information exchange among member countries starting in 2027. All EU member states, the UK, Brazil, the Cayman Islands, and other regions will be the first to participate, while countries like Australia, Canada, Singapore, Switzerland, and the UAE are expected to join by 2028. The United States plans to connect to the system in 2029. The OECD stated that this framework brings crypto assets under tax regulatory standards comparable to those of the traditional financial system, significantly reducing the space for tax evasion using crypto assets.

According to the OECD's Crypto Asset Reporting Framework (CARF), 48 jurisdictions, including the UK and the EU, will officially begin collecting standardized data in 2026.The framework requires relevant service providers to collect more detailed customer information, verify tax residency, and report users' balances and transactions to local tax authorities annually. This data will then be shared cross-border according to existing information exchange agreements. Lucy Frew, a partner at the international law firm Walkers, stated on the X platform that CARF will fundamentally change the compliance model for digital asset businesses and their clients. For exchanges, this will involve redesigning Know Your Customer and anti-money laundering processes, as well as upgrading reporting systems. Asher Tan, CEO of the UK licensed exchange CoinJar, stated that users will be required to provide additional tax residency information. Meanwhile, tax professionals pointed out that while CARF does not create new taxes, it makes existing rules easier to enforce, and tax authorities will be able to identify reporting discrepancies more efficiently through standardized machine-readable data, advising users to resolve historical tax issues during the voluntary disclosure period.

According to The Block, SEC Chairman Paul Atkins stated at the Blockchain Association's annual policy summit on Tuesday that many types of initial coin offerings (ICOs) should be considered non-securities transactions, falling outside the jurisdiction of Wall Street regulators.He explained that this is precisely what the SEC wants to encourage, as such things do not fall under the definition of securities. Atkins specifically mentioned the token classification he introduced last month, which divides the crypto industry into four major categories of tokens. He noted last month that network tokens, digital collectibles, and digital tools should not be considered securities in themselves.On Tuesday, he reiterated that ICOs involving these three types of tokens should also be regarded as non-securities transactions, meaning they are not subject to SEC regulation. Atkins also mentioned that, regarding ICOs, the only category of tokens that the SEC believes it should regulate is tokenized securities, which are the tokenized forms of securities that are already under SEC oversight and traded on-chain.He further explained that ICOs span four themes, three of which fall under the jurisdiction of the CFTC, and the SEC will let the CFTC handle related matters while focusing on regulating tokenized securities.

According to a press release from the Hong Kong government, the Hong Kong government has launched a public consultation on the implementation of the reporting framework for crypto assets and the revised Common Reporting Standard (CRS) issued by the Organisation for Economic Co-operation and Development (OECD).The government plans to complete local legislative amendments within the next year, aiming to automatically exchange tax information related to crypto asset transactions with cooperating tax jurisdictions starting in 2028, and to implement the newly revised Common Reporting Standard from 2029. The Secretary for Financial Services and the Treasury, Christopher Hui, stated that this move aims to demonstrate Hong Kong's commitment to promoting international tax cooperation and combating cross-border tax evasion, which is crucial for maintaining Hong Kong's reputation as an international financial center.The OECD announced this reporting framework in 2023, allowing cooperating tax jurisdictions to automatically exchange tax information related to crypto asset transactions annually. Since 2018, Hong Kong has been exchanging financial account information with partners according to the OECD's Common Reporting Standard. The public can submit their opinions on the relevant proposals until February 6, 2026.

Bitdeer Chairman and CEO Wu Jihan confirmed on social media that the company's newly built mining facility in Massillon, Ohio, caught fire today. He stated that two of the 26 buildings collapsed, with no injuries reported; the senior management team has rushed to the scene and will conduct a further investigation into the matter.

According to Cointelegraph, a New York jury failed to reach a consensus in the case of brothers Anton Peraire-Bueno and James Peraire-Bueno, leading U.S. District Judge Jessica Clarke to declare a mistrial. The MIT graduates were charged with fraud and money laundering related to a 2023 Ethereum blockchain vulnerability that resulted in the theft of $25 million in digital assets.It is alleged that the brothers used an MEV bot to "trick" users into making trades. Although they orchestrated this scheme for months, it was reported that they made a profit of $25 million in just 12 seconds.

According to documents from the Delaware Bankruptcy Court, FTX's recovery trust has officially withdrawn its previously submitted motion, which was intended to implement "restricted procedures" in certain foreign jurisdictions to advance the execution of the restructuring plan.After the court expressed objections during the hearing on October 23, the motion has been unconditionally withdrawn, marking a phased victory for affected creditors in their pursuit of rights. If there are plans to restart the procedure in the future, a new motion must be submitted and the notification process must be followed.

ChainCatcher news, according to Bloomberg, the European Systemic Risk Board (ESRB) has passed a proposal to ban "multi-jurisdictional" stablecoins, which are stablecoins issued simultaneously in the EU and other jurisdictions, led by the European Central Bank (ECB).Although the proposal is not legally binding, it will put pressure on national regulators to implement related restrictions or explain how to ensure financial stability without adopting the ban.

ChainCatcher news, encrypted journalist Eleanor Terrett posted on the X platform that the jury in the case of Tornado Cash co-founder Roman Storm has deadlocked on some charges today.Judge Failla immediately issued an Allen charge, instructing the jury to resume deliberations. If the deadlock continues, the court will accept partial verdicts, and the government may refile the remaining charges. The results of the jury's renewed deliberation are currently awaited.

ChainCatcher news, according to Cointelegraph, Tornado Cash co-founder Roman Storm is on trial in the Southern District Court of New York, and both the prosecution and defense have completed their closing arguments, with the jury set to begin deliberating on his guilt.The prosecution charges him with conspiracy to commit money laundering, violating sanctions against North Korea, and operating an unlicensed money transfer business, which could result in a maximum sentence of 40 years. The defense emphasizes that he had no intention of assisting in criminal activities, and that Tornado Cash, as a technological tool, should not be held accountable for its misuse.

ChainCatcher news, the account FTX Historian tracking the FTX bankruptcy and compensation situation, posted a summary of last night's FTX hearing on X. The core content of the hearing is: For creditors in "restricted jurisdictions" (such as China), their funds will not be immediately confiscated as proposed in the original FTX recovery plan, but creditors will be allowed to transfer to non-restricted jurisdictions.FTX Historian further stated that for affected creditors, such as those who completed KYC in China but now reside in other jurisdictions like Singapore, this may be a pathway to claim compensation, although it may require further information updates and more time costs.

ChainCatcher news, according to Fox News, U.S. House Representative Anna Paulina Luna has filed criminal charges with the Department of Justice, claiming that Federal Reserve Chairman Powell committed perjury twice.Luna wrote in her letter: "On June 25, 2025, Powell testified under oath before the U.S. Senate Committee on Banking, Housing, and Urban Affairs regarding the renovation of the Federal Reserve's Eccles Building. In his statement, he made several significant false statements."Luna also stated: "Additionally, in a letter to the Director of the Office of Management and Budget (OMB) Russell Vought, Powell indicated that the change in the project's cost from $1.9 billion to $2.5 billion was insignificant. However, documents reviewed by congressional investigators indicate that the scope and cost overruns of this project are fundamentally and substantially not minor issues." Perjury can result in a maximum of 5 years in prison, in addition to fines. (Jinshi)

ChainCatcher message, former President Trump stated, "I have asked the Department of Justice to release all grand jury testimony regarding Jeffrey Epstein

ChainCatcher message, FTX creditor representative Sunil tweeted that the FTX Bahamas claims process may fall under the jurisdiction of UK/EU rules and requires additional approval.

ChainCatcher news, according to Jinshi reports, the chairman of the U.S. Securities and Exchange Commission, Atkins, stated that stablecoins fall under the jurisdiction of banking regulators.

ChainCatcher news, according to Cointelegraph, Paradigm submitted an amicus brief to a New York court in support of Tornado Cash co-founder Roman Storm, urging the jury to accurately understand the legal definition of "money transmission business."Paradigm emphasized that Storm, as a software developer, did not control user funds, and the prosecution's allegations violate existing laws and FinCEN guidelines.Paradigm warned that if Storm is convicted, it could have a chilling effect on crypto, AI, and open-source software development.

ChainCatcher news, according to official sources, FTX has announced a partnership with distribution service provider Payoneer to assist in disbursing compensation funds to retail customers in eligible jurisdictions.At the same time, FTX reminds users to be vigilant against phishing emails and fake websites impersonating the official site to avoid asset loss.