Lawmakers just released a much-awaited crypto market structure bill. Here's what it means for digital assets and what comes next

Good morning, ladies and gentlemen. Thank you for that kind introduction and for the invitation to join you today as we continue the conversation about how America will lead the next era of financial innovation. When I spoke recently about American leadership in the digital finance revolution, I described “Project Crypto” as our effort to match the energy of American innovators with a regulatory framework worthy of them. Today, I would like to outline the next step in that journey. At its core, this next step is about basic fairness and common sense as it relates to the application of the federal securities laws to crypto assets and related transactions. In the coming months, I anticipate that the Commission will consider establishing a token taxonomy that is anchored in the longstanding Howey investment contract securities analysis, recognizing that there are limiting principles to our laws and regulations. Much of what I will describe builds upon the pioneering work of the Crypto Task Force that Commissioner Hester Peirce leads. Commissioner Peirce has laid out a framework for coherent, transparent treatment of crypto assets under the federal securities laws, grounded in economic reality rather than in slogans or fear. Let me reiterate that I share her vision. I value her leadership, her hard work, and her perseverance in championing these issues over the years. I am very pleased that she took this task on. I will organize my remarks around three themes: first, the importance of a clear token taxonomy; second, how Howey applies in a way that recognizes the fact that investment contracts can come to an end; and third, what that could mean in practice for innovators, intermediaries, and investors. *SEC TO CONSIDER ESTABLISHING A TOKEN TAXONOMY, ATKINS SAYS #BREAKING U.S. SEC Chief Atkins Says Clarity Coming on Crypto Tied to Investment Contracts #Bitcoin $BTC

Openbank, Santander's digital lender, said on Tuesday it had launched a cryptocurrency trading service in Spain, following rival BBVA. Banks are seeing growing demand from customers for crypto products after bitcoin hit record highs last month, helped by U.S. President Donald Trump's pro-crypto stance. In June, BBVA advised wealthy clients to invest up to 7 ...

The weekly data from ADP is turning into a market mover. The initial report showed a healthy +14,250 jobs but skip ahead two weeks and it's now showing a drop of 11,250K per week on average for the past four weeks. That should translate into a poor reading, though ADP itself reported +42K jobs in October. I'm not sure how to square that but today's ADP ...