The New York State Gaming Commission filed a lawsuit in the New York County Division of the New York State Supreme Court, seeking to compel Kalshi to comply with a subpoena issued on July 31. The lawsuit covers matters including sports event contracts, businesses targeting users under 21, advertising, and corporate structure, aiming to assess whether civil penalties should be imposed on Kalshi and other entities. Kalshi has not yet publicly responded. Previously, the New York State Attorney General and Governor sued Kalshi on July 31, seeking at least $36 billion in damages; Federal Judge Torres dismissed Kalshi's preliminary injunction request on July 7.

ARK Invest data shows that the number of global stablecoin holding addresses has exceeded 300 million, of which EVM chain accounts for about 94%.

Tuttle has submitted a series of applications for leveraged ETFs, including a 2x long Asian Storage ETF and a 2x long Zcash ETF. (Source: Bloomberg)

The French Ministry of Finance, the Financial Markets Authority (MFMA), the Bank of France, and the Prudential Regulation Authority (PRA) have recommended that the European Commission allow third parties to issue stablecoin rewards under certain conditions, and oppose extending the interest rate ban to staking and lending activities. The four institutions argue that platforms should disclose reward information and refrain from promising guaranteed returns, and that regulators should monitor the impact of rewards on bank deposits. The European Central Bank (ECB) and other EU national central banks advocate maintaining the ban and including rewards, lending, and staking activities within the restrictions. The European Commission must submit its MiCA review report by June 30, 2027. (Source: Bitcoin.com News)

Mike Selig, chairman of the U.S. Commodity Futures Trading Commission (CFTC), expressed disappointment that Congress failed to pass the Claritism Act, which would have ensured customer protection for crypto asset trading. Selig was pushing for a voluntary federal registration path for crypto exchanges, applying the same protection mechanisms to the U.S. derivatives market, covering platforms offering leveraged, margin, or financed retail trading. The Senate voted 49-50 on September 15 to prevent the bill from moving forward; the CFTC opened a public comment period for the framework on October 5, with a deadline of December 14. (Source: Bloomberg)