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Republican Sen. Cynthia Lummis, who has led U.S. Senate crypto legislation efforts, said negotiations have reached their limit as Democrats continue to demand additional revisions, according to CoinDesk. Ahead of a scheduled Senate procedural vote on the CLARITY Act, a digital asset market bill, Lummis said Republicans submitted a final compromise that reflected more than 110 Democratic requests and tighter ethics provisions related to President Donald Trump, but Democrats were still seeking further concessions. With uncertainty over whether the bill can secure the 60 votes needed to advance in the Senate, Lummis said no further concessions were possible and urged Democrats to take part in the vote. If passed, the bill would clarify regulatory lines between the U.S. SEC and CFTC, while a failure would leave regulatory uncertainty in place for the time being.

Jeffrey Fisher, Supreme Court counsel for former FTX CEO Sam Bankman-Fried, filed a petition with the U.S. Supreme Court on Sept. 10 arguing that an $11 billion forfeiture order violates the Eighth Amendment’s ban on excessive fines. In a radio interview, Fisher argued the $11 billion ruling was a monetary judgment rather than a recovery of actual assets, and would effectively block Bankman-Fried’s future income even after release, leaving Bankman-Fried in lifelong poverty. Fisher also said jurors were shown only customer loss figures during the trial, while information on the bankruptcy estate’s repayment plan, which he said repaid 105% of customer claims thanks to the success of its Anthropic investment, was restricted and kept from the jury.

Bulgaria’s parliament passed a tax law amendment requiring detailed information on crypto users to be reported to the National Revenue Agency, or NRA, as part of implementing European Union directives including DAC8. The bill passed with 149 votes in favor, none against, and 10 abstentions. Under the amendment, crypto-asset service providers, or CASPs, must submit users’ identifying information, including names, addresses, dates of birth, and taxpayer numbers, along with all transaction data such as total transaction amounts, volumes, and fiat conversion records, to the NRA. Industry groups and privacy advocates have pushed back, citing higher compliance costs and the risk of data leaks, while authorities cited efforts to curb tax evasion and comply with the EU regulatory framework. The move is seen as a step toward improving transparency in virtual asset taxation ahead of the Dec. 31, 2025 deadline for adoption by EU member states.

U.S. Sen. Kirsten Gillibrand, a prominent bipartisan voice on crypto policy in the Senate, is privately urging fellow Democratic senators to vote for the Clarity Act ahead of a vote on the virtual-asset market structure bill, according to Solid Intel.

Kraken has officially launched xStocks, an on-chain yield vault for tokenized stocks and ETFs. The offering covers tokenized versions of Nvidia (NVDAx), SPY (SPYx), and QQQ (QQQx). Users can supply those assets to Solana-based DeFi lending markets such as Kamino to earn interest in the form of tokenized stocks. Withdrawals are processed within three days, and asset manager Sentora handles risk management. The service is available to users in some jurisdictions, including the European Economic Area, and excludes certain regulated markets such as the U.S. and the UK.

Strategy said its current U.S. dollar-denominated assets are enough to cover annual interest and dividend payments for the next 3.9 years.

The U.S. House Financial Services Committee will hold a markup session on Sept. 16 and begin voting on the “2026 Reserve Modernization Act” (H.R. 8957), a bill centered on creating a Strategic Bitcoin Reserve. The bill calls for establishing a bitcoin-only strategic reserve and a separate digital asset reserve for altcoins under the U.S. Treasury. Confiscated bitcoin would be held permanently in the national treasury, while proceeds from sales of other altcoins would be used to buy additional bitcoin or repay U.S. government debt. It also includes a study of a budget-neutral strategy to purchase bitcoin over five years without issuing new government debt or raising taxes. The measure was introduced on a bipartisan basis by Republican Rep. Nick Begich and Democratic Rep. Jared Golden, and expectations are rising that approval could fuel government-level bitcoin buying.

U.S. Senate Democrats plan to hold a closed-door meeting to coordinate their response to the CLARITY Act ahead of a Senate floor vote, Eleanor Terrett, host of Crypto in America, said. Republicans have prepared a roughly 630-page amendment and presented it as a final version, while Democrats are considering a counterproposal centered on tighter ethics rules for public officials and the Trump family’s cryptocurrency businesses. The Senate is also preparing for a cloture vote to advance the bill to the floor.

Strike CEO Jack Mallers said Bitcoin and artificial intelligence could free humanity from hard labor. In an interview with Bitcoin Magazine, Mallers said money is fundamentally an abstraction of human time and energy, adding that Bitcoin and AI could help people reclaim their time and refocus on creative work.

A proposal has been submitted to the Balancer protocol governance forum to wind down operations and distribute $9 million in treasury assets to token holders. The proposal is under discussion, with a Snapshot vote scheduled between Sept. 25 and Sept. 29, according to the forum post. If approved, BAL holders would be able to burn their tokens starting in May 2027 and receive a pro rata share of the treasury. The proposal also calls for liquidity pools to switch to withdrawal-only mode starting on Oct. 30 and for contributors to be notified of the shutdown by Oct. 31.

Major exchanges have seen $107 million worth of futures liquidated in the past hour. In the past 24 hours, $362 million worth of futures have been liquidated.

Robinhood Chain’s rapid growth is being supported by Robinhood’s strong brand, its permissionless design, gas fees subsidized through grants, and an expanding virtuous cycle between memecoins and tokenized stocks, The Block reported, citing an analysis by StoneX. Since its July 1 launch, Robinhood Chain’s total value locked has surpassed $1 billion within months, while daily DEX trading volume reached $1.88 billion as of Sept. 13.

The UK Financial Conduct Authority said it plans to develop a joint roadmap on financial asset tokenization with the Bank of England later this year after gathering industry feedback, Cointelegraph reported. The regulator received 123 submissions on wholesale tokenization, and most respondents identified post-trade processes, particularly the transfer of collateral assets between counterparties, as the biggest opportunity for tokenization. Based on the feedback, the FCA and the Bank of England plan to draw up a roadmap that will set out specific target timelines for advancing tokenization in the UK’s institutional and wholesale financial markets.

Discussions to unify the EIP-8130 and EIP-8141 frame transaction standards broke down last week, leaving Ethereum layer one and Base to pursue separate account abstraction standards. According to EtherLabs researcher Derek Chiang, both proposals aim to support features such as gasless transactions and passkeys, but Ethereum layer one places greater emphasis on censorship resistance, privacy, and security, while Base and other layer twos give more weight to scalability, configurability, and regulatory compliance. Chiang said the divergence could fragment EVM transaction standards and wallet user experience, though wallets and applications may ultimately abstract away chain-level differences so users do not see them.

The three major U.S. stock indices closed lower today. - S&P 500: -0.48% - Nasdaq: -0.56% - Dow Jones: -0.29%

Coinbase said it will end trading support for eight trading pairs as of Sept. 15, aiming to improve market integrity and strengthen liquidity. The affected pairs are ANKR/EUR, BAT/BTC, BAT/ETH, COMP/BTC, FIL/BTC, GRT/BTC, JASMY/USDT and YFI/BTC.

U.S. Treasury Secretary Scott Bessent said the CLARITY Act is essential to U.S. technological leadership and the administration would take action if stablecoins harm regional banks, Cointelegraph reported.

Patrick Witt, executive director of the White House crypto council, said he was very optimistic as the U.S. Senate prepared for an initial procedural vote to advance floor consideration of the CLARITY Act, CoinDesk reported. Witt said Republicans had accepted 95% of the Democratic negotiating team’s demands on the CLARITY bill, while President Donald Trump had shown a willingness to make additional compromises on government ethics provisions. He described those provisions as historic and unprecedented. Witt added that whether the bill secures enough votes in the Senate is a political calculation rather than a policy one, and said the measure deserves bipartisan support. He also said the administration is trying to correct past mistakes that sought to destroy the industry. Addressing concerns that stablecoin rewards offered by banks could trigger deposit outflows, Witt dismissed them as entirely hypothetical and speculative. Referring to lengthy bipartisan negotiations, Witt also questioned what more opponents wanted and argued that if lawmakers oppose the CLARITY Act simply because they dislike crypto, they should say so openly.

Traders are building spot Ethereum ETF positions to use as collateral for CME futures trades and generate yield, a factor that helps explain relatively strong demand for Ethereum ETFs, Bitfinex Alpha said, according to Wu Blockchain. The report said Ethereum ETFs posted $197 million in net inflows last week and $324 million so far in September, exceeding the $307 million recorded by Bitcoin ETFs. It added that ETH ETFs are showing relatively strong momentum given that assets under management for BTC ETFs are about six times larger than those for ETH ETFs.

Coinbase urged users on X to contact U.S. senators and ask them to vote in favor of CLARITY.

According to CoinNess market monitoring, BTC has risen above $79,000. BTC is trading at $79,007.89 on the Binance USDT market.

U.S. Treasury Secretary Scott Bessent said passage of CLARITY, a crypto market structure bill, is essential for the United States to win the global technology competition.

Eight U.S. banking industry groups sent a letter to Senate leadership criticizing newly added anti-disintermediation safeguards in the CLARITY bill as ineffective, according to Eleanor Terrett. The groups said the mechanism would kick in only after substantial deposit outflows had already occurred and urged further changes to close loopholes that could effectively allow interest-like rewards to be paid on stablecoin balances.

Robinhood CEO Vlad Tenev said on X that the company plans to add in-kind redemption, allowing direct exchange into underlying shares, and voting rights to its stock tokens.

Eleanor Terrett, host of Crypto in America, said on X the U.S. crypto industry is expressing disappointment after the new CLARITY bill narrowed developer protection provisions under the Blockchain Regulatory Certainty Act. Terrett said most industry participants see the omission of criminal liability protections as regrettable, but not as an issue serious enough to derail the broader bill.